Commerce Accountancy

Business and Project Management

1,444 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

The operative function of a Human Resource Manager means

  1. Those tasks or duties which are specifically entrusted to the personnel department under the general supervision of personnel manager

  2. Those that are the basic functions of planning, organising, directing and controlling in relation to his department

  3. Human resource manager gives advice on human resource matters as he has specialised education & training in managing human relations.

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The operative functions are those tasks or duties which are specifically entrusted to the personnel department under the general supervision of personnel manager. These are concerned with employment, development, compensation, integration and maintenance of personnel of the organization.

Multiple choice

Mathematical approach to management is closely related to

  1. Empirical approach of management

  2. Interpersonal behaviour approach of management

  3. Corporate approach of management

  4. Decision theory approach of management
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Operation researchers and analysts are of the opinion that if planning, decision-making, organizing, etc. conform to logical processes, then the same can easily and suitably be presented in mathematical symbols. The leaning of this school is heavily on expressing and interpreting the basic relationship of the problems in terms of determined goals. In a way, it is thus closely related to decision theory approach.

Multiple choice

Which one of the following methods is used frequently by an organization to decide its strategic goal?

  1. Group discussion

  2. Brain storming

  3. Interview

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

Strategic goals are business plans that identify and target internal goals, but provide only general guidance on how those plans can be attained. The purpose of a brainstorming session is to work as a group to define a problem, and find, through creative thinking, the best group decision for a plan of action to solve it. Therefore, by brain storming an organization is able to decide its strategic goal.

Multiple choice

In exponential smoothening method, which one of the following is true?
  1. 0 $\leq$ $\alpha$ $\leq$ 1 and high value of $\alpha$ is used for stable demand
  2. 0 $\leq$ $\alpha$ $\leq$ 1 and high value of $\alpha$ is used for unstable demand
  3. $\alpha$ $\geq$ 1 and high value of $\alpha$ is used for stable demand
  4. $\alpha$ $\leq$ 0 and high value of $\alpha$ is used for unstable demand
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

High value of ‘$\alpha$’ shows more weightage is given to immediate forecast. Less value of ‘$\alpha$’ shows less weightage is given to immediate forecast or almost equal weightage is given. So high value of ‘$\alpha$’ is chosen when nature of demand is not reliable or unstable.

Multiple choice

A moving average system is used for forecasting weekly demand. F1(t) and F2(t) are sequences of forecasts with parameters m1 and m2, respectively, where m1 and m2(m1 > m2) denotes the numbers of weeks over which the moving averages are taken. The actual demands shows a step increase from d1 to d2 at a certain time. Subsequently,

  1. neither F1(t) nor F2(t) will catch up with the value d2

  2. both sequences F1(t) and F2(t) will reach d2 in the same period

  3. F1(t) will attain the value d2 before F2(t)

  4. F2(t) will attain the value d2 before F1(t)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Multiple choice

The product structure of an assembly P is shown in the figure. Estimated demand for end product P is as follows

           
Week
1
2
3
4
5
6
Demand
1000
1000
1000
1000
1200
1200

Ignore lead times for assembly and sub-assembly. Production capacity (per week) for component R is the bottleneck operation. Starting with zero inventory, the smallest capacity that will ensure a feasible production plan up to week 6 is

  1. 1000

  2. 1200

  3. 2200

  4. 2400
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

$\text{Hence, the smallest capacity that will ensure a feasible production plan up to week 6 is 2200}$

Multiple choice business organisation office management office circulars concept of office management introduction to office management record management and office equipment

______ is/are clue(s) which indicate(s) the need for systems analysis under office management.

  1. Describe Present System

  2. Decide on the Project for Study

  3. Analyse and Improve the Present System

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

Systems analysis involves describing the current system, selecting projects for study, and analyzing/improving the system; all are indicators of the need for such analysis.

Multiple choice business organisation office management office circulars concept of office management introduction to office management record management and office equipment

Event management skills of office manager include which of the following?

  1. Ability to solve problem

  2. Plan and organise events

  3. Networking with key persons

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

Effective event management requires a combination of problem-solving, planning, organization, and networking skills.