Management MCQ Questions

Dividing work among team members and assigning responsibilities to each individual.

A structure where different departments are created for each product line.

The process of moving an employee to a higher position with increased responsibilities and pay.

A type of training conducted outside the workplace environment, often in simulated settings.

Moving an employee to another position within the same organization, often at a similar level.

A test evaluating someone's potential to learn new skills.

The process of influencing and guiding others to achieve organizational goals.

A motivation theory stating that people have a hierarchy of needs, starting with basic needs and progressing to higher-level ones.

A fixed asset is a long-term tangible asset that a company owns and uses in its operations. These assets are not intended for resale and have a useful life of more than one year.

Planning is a mental exercise that involves setting objectives and developing courses of action to achieve those objectives. It helps guide the organization's future actions.

An organization's social objective is to contribute positively to society. This includes providing employment opportunities, promoting ethical practices, and supporting local communities.

A standing plan is a long-term plan that provides general guidelines for repetitive activities. It is used over and over again, unlike single-use plans.

Delegation is the process of assigning authority and responsibility to others to perform specific tasks. It involves the transfer of tasks, authority, and responsibility from a manager to a subordinate.

Time study is a technique used in work study to analyze the time taken to complete a specific task. It helps identify inefficiencies and improve productivity.

A budget is a financial plan that outlines the estimated income and expenses for a specific period. It is a type of standing plan used for financial control and resource allocation.

Top management is the highest level of management in an organization. They are responsible for setting the overall strategic direction and making major decisions.

Management is a goal-oriented process, meaning that every action undertaken by the management is directed towards achieving and accomplishing specific goals and objectives. It's like aiming for a specific target in archery; every action is deliberate and focused on hitting that target.

Efficiency in management refers to doing things correctly and using the least amount of resources (time, money, efforts, etc.) to achieve a desired outcome. It's about getting the most out of what you have, similar to squeezing the most juice out of an orange.

Coordination in management is the process of unifying and integrating all the different activities and efforts within an organization. It ensures that everyone is working towards the same goals and in a synchronized way, similar to a well-rehearsed orchestra where each instrument plays its part in harmony.

Principles of management are guidelines or rules that have been developed over time through observations and experiences of successful managers. These principles provide managers with a framework for making decisions and taking actions in various situations. Think of them as general recipes for success in management

The principles of management were not born in a laboratory but were formed through the accumulated experiences and observations of successful managers over time, similar to a chef refining their recipes through years of practice.

Henri Fayol, a prominent figure in the field of management, was a mining engineer. He gained extensive experience in managing large mining organizations and made significant contributions to the understanding of management principles. His insights are still relevant today.

A marketing philosophy that emphasizes understanding and meeting customer needs as the key to success.

A set of controllable, tactical marketing tools that a company uses to produce the response it wants in the target market.

A product that has a long lifespan and can be used multiple times.

A unique name, symbol, or design used to identify and differentiate a product or service from competitors.

Factors influencing the price of a product, including its cost, demand, and government regulations.

The process of managing the physical flow of goods from the point of origin to the point of consumption.

A legal framework designed to protect consumer rights and address unfair business practices.

Management is the process of planning, organizing, staffing, directing, and controlling. It involves coordinating the efforts of individuals and resources to achieve organizational goals.

A communication network where information flows strictly through a supervisor and no direct communication occurs between subordinates.

Off-the-job training is any training that takes place outside the normal work environment. It often involves formal classroom settings, simulations or workshops.

A core concept in Maslow's Hierarchy of Needs, representing the need for safety and security in both personal and professional life. It encompasses job security, stability, and a sense of control over one's environment.

Centralization is the concentration of decision-making power in the hands of a few individuals at the top of a hierarchy.

A barrier to communication arising when employees feel there are no incentives for providing valuable suggestions, potentially discouraging them from offering their ideas.

Liberalisation refers to a reduction in government controls and restrictions on businesses. It promotes economic freedom and reduces bureaucracy.

A vital management function that helps ensure organizational goals are achieved, involves monitoring, measuring, and correcting deviations from pre-set standards.

A critical stage in the controlling process where managers focus on key areas of performance, rather than attempting to control every single aspect of the organization's operations.

The Business Environment is the sum of all external and internal factors that affect a business's operations. These include economic, political, social, technological, and legal factors.

Maslow's Hierarchy of Needs is a motivational theory that proposes that people are motivated by five levels of needs, starting with basic physiological needs and progressing to self-actualization.

A primary aim of financial management is to enhance the value of the business for its owners, primarily shareholders, by ensuring financial decisions lead to profit maximization and growth.

Principles of Management are fundamental guidelines that managers use to plan, organize, staff, direct, and control the activities of an organization to achieve organizational goals. They offer a framework for logical thinking, problem-solving, and decision-making.

Assets that are expected to be converted into cash within one year, such as inventory, accounts receivable, and cash on hand.

This financial decision involves deciding how to distribute profits to shareholders, including the amount to be paid as dividends and the amount to be retained for future investment.