Management Principles MCQs

The development of one best way of performing tasks through the application of science methods.

The Industrial Revolution led to the development of management techniques for dealing with larger and more complex organizations.

<p>The Hawthorne studies explored the impact of workplace factors, like lighting and work breaks, on employee productivity. They discovered that social and psychological factors had a significant influence on performance.</p> Signup and view all the answers

<p>Centralization</p> Signup and view all the answers

<p>System theory views organizations as complex systems that transform inputs into outputs within their environment.</p> Signup and view all the answers

<p>Contemporary emphasizes employee participation, while Classical focuses on top-down decision making</p> Signup and view all the answers

<p>It promoted Ireland as an investment location, primarily in the USA, and opened the market for Irish companies to reach 250 million European consumers.</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>The IDA focused on attracting foreign direct investment (FDI) in high-growth sectors like technology, electronics, and pharmaceuticals, emphasizing job creation, regional development, and offering attractive incentive packages.</p> Signup and view all the answers

<p>It represented a coordinated approach involving government, employers, trade unions, and the farming community, which helped stabilize the economy, restore competitiveness, and lay the foundation for the subsequent economic boom known as the Celtic Tiger.</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>EU membership transformed Ireland's economic and industrial policy by providing Structural and Cohesion Funds for infrastructure and education, fostering an export-driven economy, attracting FDI, and encouraging market-oriented policies.</p> Signup and view all the answers

<p>To keep abreast of developments that may lead to new entrants in the domestic economy and facilitate decisions on international expansion.</p> Signup and view all the answers

<p>The increasing and deepening interactions and connections between individuals, groups, and organizations across the world.</p> Signup and view all the answers

<p>Trading alliances, like economic blocs, involve close economic cooperation and integration between member countries, leading to free trade, the elimination of tariff barriers, and the free flow of goods and money.</p> Signup and view all the answers

<p>The BRICS nations represent a shift in the balance of economic power, fuelled by their abundant natural resources and the emergence of large middle classes, leading to increased economic growth and consumption.</p> Signup and view all the answers

<p>'Macro environment' refers to factors that affect all organizations, including political, economic, technological, social, and ethical contexts. 'Competitive environment' relates to the rivalry among existing customers, the threat of new entrants, the bargaining power of buyers and suppliers, and the threat of substitute products and services.</p> Signup and view all the answers

<p>Planning is essential for establishing aims and objectives, choosing a course of action to achieve them, and bridging the gap between where the organization is and where it wants to be.</p> Signup and view all the answers

<p>Strategic Planning</p> Signup and view all the answers

<p>Tactical Planning</p> Signup and view all the answers

<p>Operational Planning</p> Signup and view all the answers

<p>The planning process is important to formulate strategy, guide future action, form a hierarchy of plans, and involve defining corporate objectives, conducting internal and external analyses, and revising corporate objectives.</p> Signup and view all the answers

<p>MBO improves employee understanding of goals, increases commitment to goals, and enhances the planning process.</p> Signup and view all the answers

<p>Contingency planning helps organizations prepare for unforeseen circumstances.</p> Signup and view all the answers

<p>The Miles and Snow typology categorizes business-level strategies into prospector, defender, analyzer, and reactor. A prospector explores new market opportunities and embraces change; a defender focuses on defending existing operations; an analyzer combines aspects of both; and a reactor reacts to changes introduced. This typology can be applied, for example, to the technology sector, where companies like Apple (prospector), Microsoft (defender), Amazon (analyzer), and Nokia (reactor) have adopted different strategies.</p> Signup and view all the answers

<p>Porter's generic strategies include differentiation, cost leadership, and focus. Differentiation aims to make products and services unique, cost leadership focuses on offering the lowest-cost product, and focus targets a specific regional market, product line, or customer segment.</p> Signup and view all the answers

<p>Corporate-level strategies extend across industries and focus on the degree of diversification. Two primary types of diversification are related diversification and unrelated diversification. Related diversification involves producing similar products in various markets, while unrelated diversification involves producing diverse products across different markets.</p> Signup and view all the answers

<p>Decision making is fundamental to management, as it involves selecting a course of action from a range of alternatives and plays a vital role in planning.</p> Signup and view all the answers

<p>Programmed Decisions</p> Signup and view all the answers

<p>Non-Programmed Decisions</p> Signup and view all the answers

<p>Decisions are made under conditions ranging from complete certainty to risk and uncertainty. Under certainty, all alternatives and consequences are known. Under risk, the outcomes are uncertain, but the probability of each outcome can be estimated. Under uncertainty, both the alternatives and their outcomes are uncertain, requiring reliance on intuition and judgment.</p> Signup and view all the answers

<p>Rationality in decision making refers to a process of evaluating available evidence, considering all alternatives, and making choices that lead to the best outcomes.</p> Signup and view all the answers

<p>Bounded rationality argues that decisions are constrained by limited mental capacity, emotions, and environmental factors. Individuals make choices that are satisfactory rather than optimal.</p> Signup and view all the answers

<p>Political forces can influence decision making through legitimate power, reward power, and expert power.</p> Signup and view all the answers

<p>Group decision making can lead to a greater number of perspectives, improved processing of information, increased creativity, and a sense of ownership and commitment.</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>Group decision making can be improved by using techniques like brainstorming, the Delphi method, and nominal group technique.</p> Signup and view all the answers

<p>Organizing involves the process of dividing tasks between groups, individuals, and departments, and coordinating their activities to achieve organizational goals.</p> Signup and view all the answers

<p>Organizational structure refers to the formal arrangement of tasks, responsibilities, and relationships within an organization.</p> Signup and view all the answers

<p>Recent trends in organizational design include reducing hierarchical levels, decentralizing decision-making, and increasing the use of teams and networks.</p> Signup and view all the answers

<p>Network structure</p> Signup and view all the answers

<p>Bureaucracies are often rigid and slow to adapt, making them less effective in a complex and dynamic environment.</p> Signup and view all the answers

<p>Organizations utilize networks to enhance collaboration, foster innovation, improve efficiency, and adapt to changing market conditions.</p> Signup and view all the answers

<p>Team-based mechanisms are appealing because of their flexibility, innovation, focus on collaboration, and ability to adapt to change.</p> Signup and view all the answers

<p>The main phases of HRM in Ireland include the era of welfarists, Taylorists, bureaucrats, consensus negotiators, increased legislation, and the emergence of a more strategic role for HRM.</p> Signup and view all the answers

<p>HR Planning involves analyzing the quantity and quality of human resources available to an organization, and developing action plans to ensure that the organization has the right people in the right roles at the right time.</p> Signup and view all the answers

<p>The job description outlines the main tasks and responsibilities of a particular job role, while the person specification describes the skills, qualifications, knowledge, and experience required for successfully performing the role.</p> Signup and view all the answers

<p>Digital sources</p> Signup and view all the answers

<p>Fayol's principles emphasize the importance of clear division of labor, hierarchy, and formal rules and procedures. Weber's bureaucracy adds to this by emphasizing the importance of impersonality, selection based on merit, and a focus on efficiency and rationality.</p> Signup and view all the answers

<p>Mintzberg identifies five types of organizational structures: simple structure, machine bureaucracy, professional bureaucracy, divisional structure, and adhocracy.</p> Signup and view all the answers

<p>Leadership is about inspiring, motivating, and guiding people towards a vision or goal, while management is about planning, organizing, and controlling resources to achieve specific objectives.</p> Signup and view all the answers

<p>A leader should be a visionary, motivator, decision-maker, change agent, communicator, mentor, conflict resolver, ethical role model, collaborator, and strategist.</p> Signup and view all the answers

<p>The trait theory of leadership is criticized for its lack of universality, for neglecting the impact of situational factors, for overemphasizing innate traits over acquired skills, for lacking clarity in defining traits, and for potentially excluding potential leaders.</p> Signup and view all the answers

<p>The Managerial Grid is a framework for understanding leadership styles based on two dimensions: concern for people and concern for production. It identifies five primary leadership styles.</p> Signup and view all the answers

<p>Managers need to recognize individual needs, use a combination of intrinsic and extrinsic rewards, set clear goals, ensure fairness and equity, design jobs that are motivating, and provide continuous feedback.</p> Signup and view all the answers

<p>The three main need theories are Maslow's Hierarchy of Needs, Herzberg's Two-Factor Theory, and Alderfer's ERG Theory.</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>The main approaches to job design include scientific management, job enlargement, job enrichment, job rotation, socio-technical systems, and the job characteristics model.</p> Signup and view all the answers

<p>Control is the process of ensuring the efficient and effective achievement of organizational goals and objectives.</p> Signup and view all the answers

<p>The three steps involved in the control process are: establishing performance standards, measuring and comparing actual performance, and taking corrective action.</p> Signup and view all the answers

<p>Organizations use feedforward control, concurrent control, and feedback control.</p> Signup and view all the answers

<p>Effective control systems are accurate, timely, relevant, flexible, comprehensive, cost-effective, easy to understand, action-oriented, and integrated with organizational processes.</p> Signup and view all the answers

<p>Variable budgeting adjusts expenses based on activity levels, providing flexibility for operations that fluctuate significantly.</p> Signup and view all the answers

<p>Zero-based budgeting requires managers to justify every expense from the ground up, starting with a zero baseline for each budget period.</p> Signup and view all the answers

<p>Break-even analysis determines the sales volume needed to cover all costs, helping organizations monitor performance, manage costs, and make informed decisions regarding pricing, production, and marketing.</p> Signup and view all the answers

<p>Gantt charts are used to schedule, track progress, and manage project timelines, while PERT charts are used to analyze and schedule complex projects by mapping out tasks and their dependencies.</p> Signup and view all the answers

<p>Gantt charts use a timeline-based bar chart format, while PERT charts use a flowchart-based network diagram format. Gantt charts are suitable for simpler projects with clear timelines, while PERT charts are better for complex projects with uncertainties in task durations.</p> Signup and view all the answers

<p>Advances in IT have enabled organizations to control operations in real-time, using integrated systems like ERP, process automation, and predictive analytics.</p> Signup and view all the answers

<p>In today's dynamic business environment, organizations should focus on financial controls, operational efficiency, cybersecurity, strategic alignment, HR management, risk management, regulatory compliance, and ESG controls to ensure sustainability and resilience.</p> Signup and view all the answers

<p>The current ratio is a measure of a company's ability to pay its short-term liabilities with its short-term assets.</p> Signup and view all the answers

<p>The quick asset ratio, or acid-test ratio, measures a company's ability to meet short-term obligations using its most liquid assets.</p> Signup and view all the answers

<p>The asset turnover ratio measures how efficiently a company uses its assets to generate sales.</p> Signup and view all the answers

<p>The net profit ratio measures a company's profitability as a percentage of sales.</p> Signup and view all the answers

<p>Return on assets (ROA) measures how efficiently a company generates profits from its assets.</p> Signup and view all the answers

<p>The debt-equity ratio shows the proportion of an organization's financing that comes from debt compared to equity.</p> Signup and view all the answers