Commerce Accountancy

Business and Project Management

1,146 Questions

Business and project management focus on organizational resources, strategic planning, and time management techniques used to achieve corporate objectives. It includes theories of administration and continuous improvement processes. Review these commerce and management questions to prepare for business administration sections in competitive exams.

Strategic managementTime managementOrganizational resourcesAdministration principles

Business and Project Management Questions

Multiple choice

Systems investigation may result from

  1. analysis investigation

  2. scheduled systems review

  3. manager's formal request

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Systems investigation is a formal process that can be triggered by various events, including scheduled reviews, specific management requests, or identified performance issues during analysis.

Multiple choice

Match the following: List-I (Author) A. H. A. Simon B. A. Etzioni C. C. E. Lindbolm D. Robert Dahl List-II (Decision-making theory)

  1. Mixed-Scanning
  2. Incrementalism
  3. Programmed and non-programmed decisions
  4. Group decision
  5. Systems Approach

  1. (a)1 (b)2 (c)4 (d)5

  2. (a)3 (b)1 (c)2 (d)4

  3. (a)2 (b)1 (c)5 (d)4

  4. (a)3 (b)1 (c)4 (d)5
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

H.A. Simon is associated with programmed/non-programmed decisions (A-3). A. Etzioni developed Mixed-Scanning (B-1). C.E. Lindblom is famous for Incrementalism (C-2). Robert Dahl is associated with group decision concepts (D-4).

Multiple choice

Which one of the following statements is incorrect in respect of Simon's decision-making theory?

  1. Deciding is as important as doing

  2. Decisions are in the final analysis composite

  3. Administrative man maximises

  4. There is always a means-ends relationship
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Herbert Simon argued that the 'administrative man' does not maximize (which is the assumption of the 'economic man') but rather 'satisfices', meaning they choose the first alternative that meets their minimum criteria.

Multiple choice

Material control aims at achieving effective _____ management.

  1. marketing

  2. production

  3. organiation

  4. material

  5. none of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Material control systems are specifically designed to manage materials effectively in an organization. The entire purpose of material control is to ensure efficient material management covering procurement, storage, and usage.

Multiple choice

The two levels of material control are quantity control and

  1. financial control

  2. value control

  3. quality control

  4. both (2) and (3)

  5. all of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Material control is generally divided into quantity control (ensuring the right amount is available) and financial/value control (ensuring the cost of materials is monitored and optimized).

Multiple choice

The first and foremost requirement of a control strategy is

  1. it causes motion

  2. it is systematic

  3. it is linear

  4. it is solution oriented
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A control strategy in AI or robotics is fundamentally designed to initiate or manage action, making 'it causes motion' the primary requirement for a system to be considered active or controlled.

Multiple choice

Directions: The following passage has five blanks numbered 1 to 5. Choose the option from the alternatives (1), (2), (3), (4) and (5) to fill blank 5.

A serendipitous (1) __________ of Journey is that Nabisco now has the information it needs to create a 'full portfolio view' of new development projects. Senior managers quickly and easily see what they have in the pipeline and (2) __________ whether the company has the right product mix for the near and long terms. Putting together or (3) __________ a rolling eighteen-month aggregate plan used to be an enormous task that required someone to check with all project teams, track down numbers and (4) __________ information together manually, Journey does this automatically by generating a web-based report that lays out project (5) __________ along a timeline. In addition to this high-level view, managers get project-specific information by drilling down on a project.

  1. deadlines

  2. milestones

  3. benchmarks

  4. goals

  5. targets
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

‘Along a timeline’ would obviously mean ‘milestones’. Milestones means progress or development, i.e. how much is to be achieved within a given time frame.

Hence, option (2) is the correct answer.

Multiple choice

In what way performance appraisal is helpful to the management?

  1. To identify strengths & weaknesses

  2. To identify only weaknesses

  3. To identify only strengths

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

During performance appraisal the appraiser will provide a form to employee in which  their will be some questions related to his work knowledge. Based on the answers he will find out  the employee's strengths and weakness.

Multiple choice

"For Managing Tomorrow" is the baseline for

  1. Business World

  2. Business Today

  3. Business Standard

  4. Economic Times
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

For Managing Tomorrow is the well-known tagline for the business magazine Business Today. It reflects the magazine's focus on future business trends.