Management Archives

771. The following are the key factors of the new economic policy.

A. Privatization

B. Market friendly state

C. Liberalisation

D. All of the above

✅ The correct answer is option D.
Privatization, Market friendly state and Liberalisation are the key factors of the new economic policy.

772. Chart which represents how regularly defect occurs in production process is classified as

A. relevant costing diagram

B. cause and effect diagram

C. control chart

D. Pareto chart

✅ The correct answer is option D.
Chart which represents how regularly defect occurs in production process is classified as Pareto chart. A Pareto chart is a type of chart that contains both bars and a line graph, where individual values are represented in descending order by bars, and the cumulative total is represented by the line.

773. Pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as

A. product life cycle method

B. life cycle budgeting method

C. life cycle costing method

D. time and material method

✅ The correct answer is option D.
Pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as time and material method. The Pricing Methods are the ways in which the price of goods and services can be calculated by considering all the factors such as the product/service, competition, target audience, product’s life cycle, firm’s vision of expansion, etc. influencing the pricing strategy as a whole.

774. A job specification is one of the areas of

A. Job analysis

B. Job design

C. Job description

D. Job summary

✅ The correct answer is option A.
A job specification is one of the areas of Job analysis. Job analysis is the process of gathering and analyzing information about the content and the human requirements of jobs, as well as, the context in which jobs are performed. This process is used to determine placement of jobs.

775. The abbreviations SDR stands for

A. Special Drawing Rights

B. Specific Drawing Rights

C. Special Depository Rules

D. Specific Depository Rules

✅ The correct answer is option A.
The abbreviations SDR stands for Special Drawing Rights. Special drawing rights (SDR) refer to an international type of monetary reserve currency created by the International Monetary Fund (IMF) in 1969 that operates as a supplement to the existing money reserves of member countries.

776. ______________ is called as a bundle of resources

A. Industry

B. Unit

C. Organization

D. Management

✅ The correct answer is option C.
Organization is called as a bundle of resources. An organization is a group of people who work together, like a neighborhood association, a charity, a union, or a corporation. Organization is also the act of forming or establishing something (like an organization).

777. An organization’s strategies should be designed so that they incorporate:

A. opportunities and threats

B. resources and capabilities

C. only traditional values of past organizations

D. opportunities, threats, resources, and capabilities

✅ The correct answer is option B.
An organization’s strategies should be designed so that they incorporate resources and capabilities. An organizational strategy is the sum of the actions a company intends to take to achieve long-term goals. Together, these actions make up a company’s strategic plan. Strategic plans take at least a year to complete, requiring involvement from all company levels.

778. While plotting constraints on a graph paper, terminal points on both the axes are connected by a straight line because?

A. The resources are limited in supply

B. The objective function as a linear function

C. The constraints are linear equations or inequalities

D. All of the above

✅ The correct answer is option C.
While plotting constraints on a graph paper, terminal points on both the axes are connected by a straight line because the constraints are linear equations or inequalities. An optimal solution is a feasible solution where the objective function reaches its maximum (or minimum) value – for example, the most profit or the least cost. A globally optimal solution is one where there are no other feasible solutions with better objective function values.

779. An Acquisition is

A. More risky than other foreign investment techniques

B. Less risky than other foreign investment techniques

C. A way to share control over foreign operations

D. A way to share risk of a new foreign investment

✅ The correct answer is option A.
An Acquisition is more risky than other foreign investment techniques. An acquisition is when one company purchases most or all of another company’s shares to gain control of that company. Purchasing more than 50% of a target firm’s stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company’s shareholders.

780. The process of grouping of similar types of works together is known as

A. Job classification

B. Job design

C. Job evaluation

D. Job description

✅ The correct answer is option A.
The process of grouping of similar types of works together is known as Job classification. The job classification takes into account the knowledge, skills and abilities that the employees need for performing the job. The job classification enables to accurately define the job descriptionand helps the organization in its recruitment and performance management process.