Which of the following is a key function of management?
A) Programming
B) Planning
C) Painting
D) Patrolling
Answer: B) Planning
What does SWOT stand for in management?
A) Strengths, Weaknesses, Opportunities, Threats
B) Strategies, Workflows, Objectives, Tactics
C) Systems, Ways, Operations, Technologies
D) Sales, Workforce, Output, Trends
Answer: A) Strengths, Weaknesses, Opportunities, Threats
Which management theory focuses on the efficiency of the workforce through scientific methods?
A) Human Relations Theory
B) Systems Theory
C) Scientific Management
D) Contingency Theory
Answer: C) Scientific Management
Which of the following is a common leadership style in management?
A) Authoritarian
B) Ambiguous
C) Arbitrary
D) Antagonistic
Answer: A) Authoritarian
What is the primary goal of strategic management?
A) Day-to-day operations
B) Long-term goals and objectives
C) Employee performance reviews
D) Customer satisfaction
Answer: B) Long-term goals and objectives
Which of the following describes a matrix organizational structure?
A) Hierarchical with clear reporting lines
B) Flat and decentralized
C) Combines functional and divisional structures
D) Purely project-based
Answer: C) Combines functional and divisional structures
What is the role of a “change agent” in management?
A) Maintaining the status quo
B) Initiating and managing change within the organization
C) Handling financial transactions
D) Conducting performance appraisals
Answer: B) Initiating and managing change within the organization
What does the term “benchmarking” refer to in management?
A) Setting the highest possible targets
B) Comparing performance metrics to industry bests
C) Hiring the best employees in the market
D) Evaluating past performance
Answer: B) Comparing performance metrics to industry bests
Which of the following is NOT one of the four Ps of marketing?
A) Product
B) Price
C) Promotion
D) People
Answer: D) People
What is the primary purpose of a business plan?
A) To entertain stakeholders
B) To outline the strategy for achieving business goals
C) To replace the need for a marketing plan
D) To evaluate employee performance
Answer: B) To outline the strategy for achieving business goals
Which of the following best describes “corporate governance”?
A) Managing day-to-day operations
B) The system of rules, practices, and processes by which a company is directed and controlled
C) Ensuring customer satisfaction
D) Developing marketing campaigns
Answer: B) The system of rules, practices, and processes by which a company is directed and controlled
What is the primary objective of financial management within a company?
A) Minimizing taxes
B) Maximizing shareholder value
C) Reducing employee turnover
D) Increasing market share
Answer: B) Maximizing shareholder value
What is meant by “organizational culture”?
A) The financial status of the organization
B) The physical working environment
C) The shared values, beliefs, and norms within an organization
D) The organizational structure
Answer: C) The shared values, beliefs, and norms within an organization
Which tool is commonly used in project management to illustrate the schedule of tasks?
A) SWOT Analysis
B) Gantt Chart
C) PERT Chart
D) Balanced Scorecard
Answer: B) Gantt Chart
What does CRM stand for in a business context?
A) Customer Relations Management
B) Corporate Risk Management
C) Customer Relationship Management
D) Corporate Resource Management
Answer: C) Customer Relationship Management
Which leadership style is characterized by a high level of involvement from team members in decision-making?
A) Autocratic
B) Democratic
C) Laissez-faire
D) Bureaucratic
Answer: B) Democratic
What is the main purpose of performance appraisals?
A) To provide entertainment
B) To evaluate and improve employee performance
C) To determine company profits
D) To hire new employees
Answer: B) To evaluate and improve employee performance
What does KPI stand for in management?
A) Key Performance Indicator
B) Knowledge Process Integration
C) Key Planning Initiative
D) Knowledge Performance Index
Answer: A) Key Performance Indicator
In management, what does the term “delegation” refer to?
A) Retaining all tasks and responsibilities
B) Assigning tasks and responsibilities to subordinates
C) Developing new products
D) Creating financial reports
Answer: B) Assigning tasks and responsibilities to subordinates
Which of the following is an example of a “hard skill”?
A) Communication
B) Leadership
C) Time management
D) Data analysis
Answer: D) Data analysis
What is the primary focus of supply chain management?
A) Increasing sales
B) Managing the flow of goods and services
C) Marketing new products
D) Hiring new employees
Answer: B) Managing the flow of goods and services
Which of the following is a component of emotional intelligence?
A) Technical skills
B) Self-awareness
C) Financial acumen
D) Strategic planning
Answer: B) Self-awareness
What is the main goal of customer segmentation in marketing?
A) To increase product prices
B) To divide customers into groups based on similar characteristics
C) To reduce marketing costs
D) To standardize products
Answer: B) To divide customers into groups based on similar characteristics
Which financial statement shows a company’s profitability over a specific period?
A) Balance Sheet
B) Cash Flow Statement
C) Income Statement
D) Statement of Retained Earnings
Answer: C) Income Statement
In the context of management, what does the term “span of control” refer to?
A) The geographic reach of a company
B) The number of employees directly managed by a supervisor
C) The overall budget of a department
D) The duration of a project
Answer: B) The number of employees directly managed by a supervisor
What is the primary purpose of market research?
A) To design new products
B) To understand consumer needs and preferences
C) To set employee salaries
D) To establish corporate governance policies
Answer: B) To understand consumer needs and preferences
Which of the following is a common characteristic of a transformational leader?
A) Micromanagement
B) Inspiring and motivating employees
C) Avoiding risk
D) Maintaining the status quo
Answer: B) Inspiring and motivating employees
What is meant by “corporate social responsibility” (CSR)?
A) Maximizing profits at any cost
B) A company’s commitment to ethical behavior and contributing to economic development while improving the quality of life of employees, the local community, and society at large
C) Reducing employee benefits
D) Increasing market share through aggressive marketing
Answer: B) A company’s commitment to ethical behavior and contributing to economic development while improving the quality of life of employees, the local community, and society at large
Which conflict resolution style involves collaborating to find a mutually beneficial solution?
A) Competing
B) Avoiding
C) Compromising
D) Collaborating
Answer: D) Collaborating
What does the “5 Whys” technique aim to achieve in problem-solving?
A) To quickly implement a solution
B) To find the root cause of a problem
C) To gather team opinions
D) To develop a strategic plan
Answer: B) To find the root cause of a problem
Which motivational theory is associated with the hierarchy of needs?
A) Herzberg’s Two-Factor Theory
B) McGregor’s Theory X and Theory Y
C) Maslow’s Hierarchy of Needs
D) Vroom’s Expectancy Theory
Answer: C) Maslow’s Hierarchy of Needs
What is the primary objective of Six Sigma methodology?
A) Marketing products
B) Reducing defects and improving quality
C) Increasing employee satisfaction
D) Developing new products
Answer: B) Reducing defects and improving quality
Which of the following best describes “servant leadership”?
A) Leaders focus on their own success
B) Leaders prioritize the needs of their team members
C) Leaders make decisions without input from others
D) Leaders rely on formal authority to get results
Answer: B) Leaders prioritize the needs of their team members
What is the primary focus of human resource management (HRM)?
A) Managing the company’s finances
B) Overseeing production processes
C) Recruiting, hiring, and developing employees
D) Marketing products
Answer: C) Recruiting, hiring, and developing employees
Which of the following is an example of a qualitative research method?
A) Surveys with multiple-choice questions
B) Interviews
C) Statistical analysis
D) Regression analysis
Answer: B) Interviews
What is the main purpose of risk management in a business context?
A) To increase sales
B) To identify, assess, and mitigate potential risks
C) To improve employee performance
D) To develop new products
Answer: B) To identify, assess, and mitigate potential risks
Which of the following is a benefit of effective time management?
A) Increased stress levels
B) Decreased productivity
C) Improved work-life balance
D) Reduced accountability
Answer: C) Improved work-life balance
In the context of management, what does “Kaizen” refer to?
A) A one-time improvement effort
B) A philosophy of continuous improvement
C) A budgeting technique
D) A leadership style
Answer: B) A philosophy of continuous improvement
Which type of budgeting starts from a “zero base” each period and justifies all expenses?
A) Incremental budgeting
B) Zero-based budgeting
C) Rolling budgeting
D) Flexible budgeting
Answer: B) Zero-based budgeting
What is the primary objective of total quality management (TQM)?
A) Reducing costs
B) Improving customer satisfaction
C) Increasing employee turnover
D) Decreasing production time
Answer: B) Improving customer satisfaction
Which of the following best describes a “mission statement”?
A) A long-term financial goal
B) A statement that defines the company’s purpose and primary objectives
C) A list of products and services offered
D) A description of the company’s history
Answer: B) A statement that defines the company’s purpose and primary objectives
What is the main purpose of a balanced scorecard in management?
A) To provide a framework for managing and measuring organizational performance
B) To track daily sales
C) To calculate employee salaries
D) To develop marketing strategies
Answer: A) To provide a framework for managing and measuring organizational performance
Which management concept involves giving employees more responsibility and decision-making power?
A) Centralization
B) Specialization
C) Empowerment
D) Standardization
Answer: C) Empowerment
Which of the following is a key component of the marketing mix?
A) Technology
B) Pricing
C) Leadership
D) Innovation
Answer: B) Pricing
What does the term “lean manufacturing” refer to?
A) Producing large quantities with high inventory levels
B) Reducing waste and improving efficiency in the production process
C) Increasing product variety
D) Expanding production facilities
Answer: B) Reducing waste and improving efficiency in the production process
Which leadership style is characterized by hands-off management and allowing employees to make decisions?
A) Autocratic
B) Transformational
C) Laissez-faire
D) Transactional
Answer: C) Laissez-faire
What is the primary focus of operations management?
A) Marketing and sales
B) Production and delivery of products and services
C) Financial planning
D) Human resource management
Answer: B) Production and delivery of products and services
Which management technique involves setting specific, measurable, achievable, relevant, and time-bound objectives?
A) SWOT analysis
B) SMART goals
C) Benchmarking
D) PEST analysis
Answer: B) SMART goals
What is the main objective of cost-benefit analysis?
A) To determine the break-even point
B) To compare the costs and benefits of a decision or project
C) To increase production output
D) To evaluate employee performance
Answer: B) To compare the costs and benefits of a decision or project
Which of the following best describes “strategic planning”?
A) Short-term financial planning
B) Long-term planning to achieve major goals and objectives
C) Day-to-day operations management
D) Emergency response planning
Answer: B) Long-term planning to achieve major goals and objectives