Podcast Beta
Questions and Answers
What is required to achieve quality products and services?
What does benchmarking determine?
What is trading business?
Who is considered the father of scientific management?
Signup and view all the answers
What is the process of deciding in advance what to do, how to do it, and when to do it?
Signup and view all the answers
What is the wrong statement about authority?
Signup and view all the answers
Which of the following is not included in the contents of a partnership deed?
Signup and view all the answers
What is the process of verifying conformity with a predetermined plan and taking corrective action?
Signup and view all the answers
Which factor contributes to accidents due to oily or greasy floors?
Signup and view all the answers
Who is not considered a dependent?
Signup and view all the answers
What is a safety provision for workers under the Factory Act 1948?
Signup and view all the answers
How can minimum rates of wages be fixed?
Signup and view all the answers
What does financial planning involve?
Signup and view all the answers
What type of capital is invested in assets that cannot be easily converted into money?
Signup and view all the answers
Which department floats enquiries and processes quotations?
Signup and view all the answers
What is the acceptable percentage of defects in 6 sigma?
Signup and view all the answers
Who is the sleeping partner in a business?
Signup and view all the answers
What is the maximum number of hours an adult worker can work in a factory per week?
Signup and view all the answers
What is a health provision in a factory?
Signup and view all the answers
Which act provides for protecting devices for workers?
Signup and view all the answers
What is the type of capital required to purchase a building for a company?
Signup and view all the answers
What is the income tax paid by a person with an annual income of 2,50,000 Rs?
Signup and view all the answers
What is inventory management a part of?
Signup and view all the answers
What determines the quality and timing for material planning?
Signup and view all the answers
What is the correct sequence of the management theorists?
Signup and view all the answers
What is a wrong statement about Kaizen?
Signup and view all the answers
What is the relationship between ISO 9000:2000 and ISO 9001?
Signup and view all the answers
What type of goods are provided by the service industry?
Signup and view all the answers
What is a negative effect of globalization?
Signup and view all the answers
What is the function of administration?
Signup and view all the answers
What is the top level of management also known as?
Signup and view all the answers
What is one disadvantage of forming a partnership?
Signup and view all the answers
What is an advantage of ABC Analysis?
Signup and view all the answers
What is the nature of permanent working capital?
Signup and view all the answers
Whose principles are useful for contemporary managers to manage their work efficiently?
Signup and view all the answers
What is the goal of a business firm?
Signup and view all the answers
What are the resources used to fulfill the goal of an enterprise?
Signup and view all the answers
What was the key aim of scientific management?
Signup and view all the answers
What type of organization is ONGC?
Signup and view all the answers
How many hours is an adult worker allowed to work in a factory according to the Factories Act?
Signup and view all the answers
Study Notes
Quality and Management
- To achieve quality, we require close cooperation between management and staff, commitment, and an environment where quality can flourish.
- Bench marking determines customer requirements, process capability, and standards.
- Top agro industry in India is not FabIndia, Pidilite, or Dupont India, but rather another industry.
Business and Industry
- Trading business involves buying goods and selling them without processing.
- Insurance companies include Bajaj Allianz, Max Life, and LIC, but not ICC.
- The father of scientific management is Fedrick W. Taylor.
Planning and Decision-Making
- Deciding in advance what to do, how to do it, and when to do it is called planning.
- Authority is the power to act, and authority cannot be delegated.
- A good plan may fail due to insufficient data, lack of knowledge, or overconfidence.
Operations and Control
- The process of operations involves verifying conformity with the predetermined plan and taking corrective action.
- Joint stock companies have limited liability, can undertake various activities, and have separate legal status from their members.
Human Resource Management
- Oily or greasy floors contribute to accidents due to environmental factors, not workers or management.
Financial Management
- Financial planning deals with preparing financial statements, planning for capital issues, and preparing budgets.
- The master budget coordinates various budgets.
- Custom duty is charged on movable property, not vessels or currency.
- Fixed capital is invested in assets that cannot be easily converted into money.
Supply Chain and Inventory Management
- Economic order quantity provides the optimum number of units to order.
- The ABC analysis is used to classify items based on their value.
- Inventory management involves procurement, allocation, and control of financial resources.
Miscellaneous
- Kaizen is a Japanese technique for continuous improvement that does not require heavy investment.
- Six sigma is a quality control tool that aims for 3.4 defects per million opportunities.
- The ISO 9000:2000 standards consist of three documents, including ISO 9001 for requirements.
- Service industry provides intangible goods.
- Negative effects of globalization include monopoly in business.
- The function of administration involves decision-making, policy-making, and controlling and ensuring discipline.
- Top-level management makes important decisions for the entire organization.
- Co-operatives play an important role in agriculture.
- A sleeping partner is one who does not participate in the business.
- According to the Factories Act, no adult worker should work more than 48 hours per week.
- Safety provisions include fencing of machinery, cleanliness, and washing facilities.
- Financial management involves procurement, allocation, and control of financial resources.
- Inventory management is part of material management.
- Too little inventory increases the risk of out-of-stock conditions.
- MRP determines quality and timing for material planning.
- Permanent working capital is required for every year or month.
- The goal of an enterprise is fulfilled through the use of resources like men, machines, materials, and money.
- The key aim of scientific management is to increase productivity.
- No smoking is an example of a rule.
- Project organizations are temporary in nature and can be internally formed.
- ONGC is a government sector organization.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
A set of questions related to business, industry, and quality management. Topics include quality control, benchmarking, and top agro industries in India.
