Management Introduction Questions and Answers 71 to 80

Management Introduction 

Questions 71 to 80

71.	The bargaining power of buyers, as described by Porter, is high when (a) There are only a few players in the industry (b) Their purchases form a large chunk of the sellers’ total sales (c) There are no substitutes for products being purchased (d) Products or services are critical to the buyer’s business (e) There are great differences in products, in terms of features, manufactured by various suppliers.
72.	The conflict-resolution approach that corresponds with a high level of assertiveness and a low level of cooperativeness, is referred to as (a) Compromising (b) Collaborating (c) Forcing (d) Avoiding (e) Accommodating.
73.	Which approach to decision-making under conditions of uncertainty believes that individual attitudes toward risk vary with events, with people and positions? (a) Risk analysis (b) Risk communication (c) Decision trees (d) Utility theory (e) Game theory.
74.	Which of the following are characteristics of a closed system? I.     It is perfectly deterministic and predictable. II.     There is no exchange between the system and the external environment. III.    It is a realistic view. IV.   It is flexible and adaptable. (a) Both (I) and (II) above (b) Both (I) and (IV) above (c) Both (II) and (III) above (d) Both (III) and (IV) above        (e) (I), (II) and (III) above.
75.	Information that originates outside the organization is known as external information. Which of the following is an example of external information in an organization? (a) Daily receipts and expenditures (b) Salesperson quotas (c) Descriptions of customer satisfaction with products and services (d) Quantity of an item in hand or in inventory (e) Cost and selling price of the company’s item.
76.	The major disadvantage of the divisional structure is (a) Diseconomies of scale (b) Requires people with general managerial capabilities (c) Managerial vacuum (d) Duplication of activities and resources (e) It is slow in responding to changes.
77.	Power based upon identification with a person who has desirable resources or personal traits is known as (a) Coercive power (b) Legitimate power (c) Expert power (d) Referent power (e) Reward power.
78.	Which of the following decision-making models emphasizes short-run solution of a problem rather than long-term goal accomplishment? (a) Rational model (b) Satisficing model (c) Incremental model (d) Garbage-can model (e) Decision tree.
79.	Which of the following is usually the first step followed in the recruitment procedure? (a) Designing job description (b) Developing a job specification (c) Performing job analysis (d) Attracting a pool of applicants (e) Selecting best recruits.
80.	Which of the following is not a part of the human resource management function in most organizations? (a) Sanctioning (b) Performance appraisal (c) Training (d) Human resource planning (e) Compensation.

Answers

71.	Answer :  (b) Reason : The bargaining power of buyers, as described by Porter, is high when their purchases form a large chunk of the sellers’ total sales.
72.	Answer :  (c) Reason : The conflict-resolution approach that corresponds with a high level of assertiveness and a low level of cooperativeness, is referred to as Forcing. Hence, from above discussion, we can infer that option (c) is correct.
73.	Answer :  (d) Reason : The preference or utility theory is based on the belief that individual attitudes toward risk vary with events, with people and positions.
74.	Answer :  (a) Reason : The following statements are characteristics of a closed system : ·      It is perfectly deterministic and predictable. ·      There is no exchange between the system and the external environment.
75.	Answer :  (c) Reason : Descriptions of customer satisfaction with products and services are examples of external information in an organization. Hence from above discussion, we can infer that option (c) is correct. Options (a), (b), (d) and (e) are all examples of internal information in an organization.
76.	Answer :  (d) Reason : Duplication of activities and resources is a major disadvantage of the divisional structure.
77.	Answer :  (d) Reason : Power based upon identification with a person who has desirable resources or personal traits is known as referent power.
78.	Answer :  (c) Reason : Incremental model emphasizes short-run solution of a problem rather than long-term goal accomplishment. (a) Rational model is a model of managerial decision-making, which suggests that managers engage in completely rational decision process, ultimately make optimal decisions and process, and understand all information relevant to their decisions at the time they make them. (b) Satisficing model describe the way modern managers must, of necessity, make decisions with incomplete information by choosing from among the few most likely alternatives. (d) Garbage can model is a non-rational model of management decision-making stating that mangers behave in virtually a random pattern in making non-programmed decisions. (e) Decision tree is a quantitative decision-making tool based on a graphic model that displays the structure of a sequence of alternative courses of action and usually shows the payoff associated with various paths and the probabilities associated with future conditions.
79.	Answer :  (c) Reason : The Recruitment Procedure consists of the following steps : ·      Performing Job Analysis. ·      Designing Job Description. ·      Developing a Job Specification. ·      Attracting a Pool of Applicants. ·      Selecting Best Recruits. Hence, from above discussion, we can infer that option (c) is correct.
80.	Answer :  (a) Reason : Sanctioning means giving formal permission or approval. It not a part of the human resource management function in most organizations. Hence, from above discussion, we can infer that option (a) is correct. Options (b), (c), (d) and (e) are all parts of the human resource management function in most organizations.

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