Functions of Management MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Functions of Management, a fundamental topic in the field of IC90 Human Resource Management. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Functions of Management MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Functions of Management mcq questions that explore various aspects of Functions of Management problems. Each MCQ is crafted to challenge your understanding of Functions of Management principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC90 Human Resource Management tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Functions of Management MCQs are your pathway to success in mastering this essential IC90 Human Resource Management topic.

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Functions of Management MCQs | Page 2 of 19

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Q11.
What is the nature of the goals that a Chairman plans for?

a.

Specific and detailed

b.

General and broad

c.

Flexible and adaptable

d.

None of the above

Discuss
Answer: (b).General and broad Explanation:A Chairman's plan will be in terms of the total organization, the products to be made, the areas in which to operate, the new products to be developed, the amount of profits to be earned, and so on. These plans may cover long periods of more than one year.
Q12.
What is the next step in planning after identifying the purpose to be achieved?

a.

Selecting the type and course of actions required for achieving the objectives

b.

Determining the activities to achieve the planned objectives

c.

Deciding how to allocate resources

d.

Identifying the appropriate time frame

Discuss
Answer: (b).Determining the activities to achieve the planned objectives Explanation:The next step in planning is to determine the activities to achieve the planned objectives.
Q13.
What is the mission statement of an organization?

a.

A statement indicating specific quantitative terms and time frames.

b.

A statement spelt out by the promoters or the Board of Directors.

c.

A statement that remains unchanged for quite some time and provides the rationale for all its activities.

d.

A statement indicating the values to be upheld in its operations.

Discuss
Answer: (c).A statement that remains unchanged for quite some time and provides the rationale for all its activities. Explanation:The mission statement of an organization is the broadest possible statement of why that organization has been created. It would be stated in very general terms and without a time frame. It would be spelt out by the promoters or the Board of Directors. The mission would remain unchanged for quite some time and would provide the rationale for all its activities.
Q14.
What does the mission statement of the Government of India state?

a.

The values to be upheld in its operations.

b.

The specific quantitative terms and time frames.

c.

The rationale for all its activities.

d.

The broadest possible statement of why the government has been created.

Discuss
Answer: (d).The broadest possible statement of why the government has been created. Explanation:The mission statement for the Government of India would be found in the Preamble of the Constitution of India.
Q15.
What was the mission statement of the Life Insurance Corporation of India?

a.

To spread insurance products all over India, particularly in rural areas and economically backward classes and to provide financial insurance covers against death at low premiums.

b.

To encourage local producers and entrepreneurs through its purchase policies.

c.

To ensure that none of its activities or products or processes will, in any manner, cause harm to the environment.

d.

To never resort to overcharging the customer, even if at times, there exists an opportunity to do so.

Discuss
Answer: (a).To spread insurance products all over India, particularly in rural areas and economically backward classes and to provide financial insurance covers against death at low premiums. Explanation:When the government set up the Life Insurance Corporation of India in 1956, its mission was stated to be to spread insurance products all over India, particularly in rural areas and economically backward classes and to provide financial insurance covers against death at low premiums.
Q16.
What are objectives or goals?

a.

A statement indicating specific quantitative terms and time frames.

b.

A statement spelt out by the promoters or the Board of Directors.

c.

A statement that remains unchanged for quite some time and provides the rationale for all its activities.

d.

A statement indicating the values to be upheld in its operations.

Discuss
Answer: (a).A statement indicating specific quantitative terms and time frames. Explanation:Objectives or goals are stated in specific quantitative terms and indicate how the mission would be carried forward in a specified time frame. The Zonal Office or Regional Office of an insurance company might lay down an objective for a certain percentage growth in business for the next year, while the Branch offices under it might set their contribution to that growth in terms of expectations of business, area-wise and / or agent-wise and / or plan-wise in shorter periods. Therefore, setting goals is a method of giving effect to the mission in quantitative and time-bound, actionable, and measurable terms.
Q17.
What is the difference between strategies and tactics?

a.

Strategies are specific and tactical while tactics are broad and general.

b.

Strategies are determined by local commanders while tactics are decided by top generals.

c.

Strategies are focused on achieving dominance in the market while tactics are used to achieve specific goals.

d.

Strategies and tactics are synonymous.

Discuss
Answer: (c).Strategies are focused on achieving dominance in the market while tactics are used to achieve specific goals. Explanation:Strategies differ from tactics in the extent of details and specifics, as well as time frames. In businesses, strategies are used to achieve dominance in the market, while tactics are used to achieve specific goals.
Q18.
What does corporate strategy deal with?

a.

Matters referred to in the mission statement

b.

Business positioning

c.

Distribution arrangements

d.

Use of technology

Discuss
Answer: (a).Matters referred to in the mission statement Explanation:Corporate strategy deals with matters referred to in the mission statement, such as the portfolio of interests the organization wants to pursue and whether it wants to acquire other businesses or not.
Q19.
What does business strategy deal with?

a.

Matters referred to in the mission statement

b.

Business positioning

c.

Distribution arrangements

d.

Use of technology

Discuss
Answer: (b).Business positioning Explanation:Business strategy deals with business positioning, distribution arrangements, use of capital, use of technology, and other related matters.
Q20.
What is the difference between strategies and tactics?

a.

Strategies provide only broad indications, while tactics specify operational details

b.

Strategies provide specific details, while tactics provide broad indications

c.

Strategies and tactics are synonymous

d.

Strategies and tactics have no relationship with each other

Discuss
Answer: (a).Strategies provide only broad indications, while tactics specify operational details Explanation:Strategic planning gives only broad indications and not specific details, while tactical decisions will specify operational details.
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