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Business Management MCQ Questions and Solutions with Explanations | Management

Business Management MCQ Questions and answers with easy and logical explanations. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Management MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department exam. Page-6 section-1

Each section contains 100 MCQs on Business Management .
51
The decision which does not incur any expenses is known as _________.
Discuss
Answer & Solution
Answer: Option C
Solution:
The decision which does not incur any expenses is known as non-economic decision. Non-economic activity is an activity performed gladly, with the aim of providing services to others without any regard to monetary gain. Those human activities which are undertaken for personal satisfaction or to satisfy human sentiments are non economic activities.
52
Strategic planning is
Discuss
Answer & Solution
Answer: Option A
Solution:
Strategic planning is long term planning. Strategic planning is based on establishing a long-term plan to achieve a specified mission, through the attainment of broad-ranging objectives.
53
The decision which is implemented within the concerned department is known as ___________.
Discuss
Answer & Solution
Answer: Option B
Solution:
The decision which is implemented within the concerned department is known as departmental decision. Departmental Decision' is taken by the managers of the respective departments. And, the decisions that cover the activities of the enterprise as a whole and are taken by the top-level executives are known as 'Enterprise Decisions'.
54
Strategic planning is done at
Discuss
Answer & Solution
Answer: Option A
Solution:
Strategic planning is done at high levels of management. Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals.
55
Decision taken by committee formed by the top management for specific purpose is ________.
Discuss
Answer & Solution
Answer: Option A
Solution:
Decision taken by committee formed by the top management for specific purpose is group decision. Group decision-making commonly known as collaborative decision-making is a situation faced when individuals collectively make a choice from the alternatives before them.
56
Operational planning is done at
Discuss
Answer & Solution
Answer: Option B
Solution:
Operational planning is done at lower level of management. Operational planning (OP) is the process of planning strategic goals and objectives to tactical goals and objectives. They link the strategic plan with the activities the organization will deliver and the resources required to deliver them.
57
Crisis decision is also known as ________.
Discuss
Answer & Solution
Answer: Option D
Solution:
Crisis decision is also known as spot decision. Crisis decision-making (CDM) is challenging and prone to failure. Most CDM schemes are strong at certain aspects of the overall CDM process, but almost none are strong at all of them.
58
Operational planning is
Discuss
Answer & Solution
Answer: Option A
Solution:
Operational planning is short-term planning which focuses on achieving the company's tactical objectives.
59
A decision taken to meet unexpected situations is known as ________.
Discuss
Answer & Solution
Answer: Option B
Solution:
A decision taken to meet unexpected situations is known as crisis decision. In a crisis, decisions have the potential to impact the organisation involved.
60
The assumptions about future derived from forecasting and used in planning are known as
Discuss
Answer & Solution
Answer: Option A
Solution:
The assumptions about future derived from forecasting and used in planning are known as planning premises. Planning premises are the anticipated environment in which plans are expected to operate. They include assumptions or forecasts of the future and known conditions that will affect the course of plans such as prevailing policies and existing company plans that controls the basic nature of supporting plans.