Management MCQs

Porter’s generic strategies are

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A. Low price, differentiation, focus
B. Cost leadership, differentiation, cost focus, focus differentiation
C. Price leadership, differentiation, focus
D. Low cost, differentiation, focus differentiation
✅ The correct answer is option B.
Porter’s generic strategies are cost leadership, differentiation, cost focus, focus differentiation. Porter’s generic strategies describe how a company pursues competitive advantage across its chosen market scope. There are three/four generic strategies, either lower cost, differentiated, or focus.

MBO is a

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A. Technique of management
B. Process of management
C. Steps in management
D. Procedure in management
✅ The correct answer is option A.
MBO is a technique of management. Management by objectives (MBO) is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees.

Supplementary Parts are usually short messages with natural, casual use of language.

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A. Formal reports
B. Informal reports
C. Short reports
D. Progress report
✅ The correct answer is option C.
Short reports are supplementary Parts are usually short messages with natural, casual use of language. A short report is usually written to inform the authority concerned or specific readers about a specific matter so that they can make appropriate decision about the matter.

Price which is paid by bidders and is accepted by all other bidders is classified as

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A. highest price
B. lowest price
C. zero price
D. peak price
✅ The correct answer is option B.
Price which is paid by bidders and is accepted by all other bidders is classified as lowest price. A bidder is someone who offers to pay a certain amount of money for something that is being sold.

Bonds rated lower than triple-B bonds by Standard and Poor’s are considered as

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A. split bonds
B. automated bonds
C. junk bonds
D. sinking bonds
✅ The correct answer is option C.
Bonds rated lower than triple-B bonds by Standard and Poor’s are considered as junk bonds. Junk bonds are bonds that carry a higher risk of default than most bonds issued by corporations and governments.

Difference between corresponding static budget and flexible budget amount is called

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A. sales volume variance
B. sales mix variance
C. sales quantity variance
D. market share variance
✅ The correct answer is option A.
Difference between corresponding static budget and flexible budget amount is called sales volume variance. Sales volume variance is the change in revenue or profit caused by the difference between actual and budgeted sales units.

All the parameters in the linear programming model are assumed to be ____________.

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A. Variables
B. Constraints
C. Functions
D. None of the above
✅ The correct answer is option B.
All the parameters in the linear programming model are assumed to be Constraints. For a problem to be a linear programming problem, the decision variables, objective function and constraints all have to be linear functions. If the all the three conditions are satisfied, it is called a Linear Programming Problem.

Which of the following aptly describes the role of line managers and staff advisors namely HR professionals?

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A. Staff advisors focus more on developing HR programmes while line managers are more involved in the implementation of those programmes
B. Line managers are concerned more about develop.ing HR programmes whereas staff advisors are more involved in implementing such programmes
C. Staff advisors are solely responsible for developing, implementing and evaluating the HR programmes while line managers are not all involved in any matters concerning HR
D. Line managers alone are responsible for developing, implementing and evaluating the HR programmes while staff advisors are not all involved in any matters concerning HR.
✅ The correct answer is option A.
Staff advisors focus more on developing HR programmes while line managers are more involved in the implementation of those programmes aptly describes the role of line managers and staff advisors namely HR professionals.

Products that are used directly in the production of a final product but are not easily identifiable are categorised as

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A. Accessory products
B. Component parts
C. Consumable supplies.
D. Assembly components
✅ The correct answer is option E.
Products that are used directly in the production of a final product but are not easily identifiable are categorised as Process materials. Materials processing is the series of operations that transforms industrial materials from a raw-material state into finished parts or products.