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Business Studies: CUET Mock Test - 4


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40 Questions MCQ Test CUET Mock Test Series | Business Studies: CUET Mock Test - 4

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Business Studies: CUET Mock Test - 4 - Question 1

“This is the step where other managerial functions also come into the picture. This step would also involve organising for labour and purchase of machinery.” Identify the step of one of the functions of management highlighted above.

Business Studies: CUET Mock Test - 4 - Question 2

Sun Pharmacy planned to sell 1 crore ‘Covicare’ tablets in a year. The company received good response from the market and sold 1.5 crore tablets in a year. Seeing the progress, the company decided to increase sales target to 2 crore tablets in a year.Which major benefit of planning has the company achieved?

Business Studies: CUET Mock Test - 4 - Question 3

Super Fine Rice Ltd. has the largest share of 55% in the market. The company’s policy is to sell only for cash. In 2020, for the first time company’s number one position in the industry has been threatened because other companies started selling rice on credit also. But the managers of Super Fine Rice Ltd. continued to rely on its previously tried and tested successful plans which didn’t work because the environment is not static. This led to decline in sales of Super Fine Rice Ltd. The above situation is indicating limitation of planning which led to decline in it sales, Identify it.

Business Studies: CUET Mock Test - 4 - Question 4

Sales executive of a ‘Swatch Jal Water Purifier’ suggested the marketing manager to sell the products with the help of artificial intelligence. He suggested that a pre-recorded message may be sent to the prospective buyers and it will help save time, cost and energy for both ends. The marketing manager liked the idea but suggested him to continue with the strategy the company was already adopting.Which limitation of planning is reflected in the above case?

Business Studies: CUET Mock Test - 4 - Question 5

The Chinese companies launched ‘Vivo’ and ‘Oppo’ phones in the Indian market with high end features to tap low segment population of India. It remained successful but later the Indians in order to show patriotism, decided to boycott Chinese products. Which step of planning process, Chinese firms could not perform properly while launching their products?

Business Studies: CUET Mock Test - 4 - Question 6

A company wants to increase sales; the alternatives may be reducing prices, improving packaging, offering trade discount, cash discount after sales due to credit sales, free samples etc. Which step of planning process relates with the above examples?

Business Studies: CUET Mock Test - 4 - Question 7

To see whether plans are being implemented and activities are performed according to schedule is known as _____

Business Studies: CUET Mock Test - 4 - Question 8

Directions: There are two statements marked as Assertion (A) and Reason (R). Read the statements and choose the appropriate option from the options given below

Assertion (A): Managers need to be given some flexibility to be able to cope with the changed circumstances.
Reason (R): Planning reduces creativity.

Detailed Solution for Business Studies: CUET Mock Test - 4 - Question 8

The correct explanation to (A) is that planning leads to rigidity as managers follow a pre-decided plan and may not be in a position to change when circumstances change.

Business Studies: CUET Mock Test - 4 - Question 9

Business environment is the sum total of all the factors and forces ______ to a business.

Business Studies: CUET Mock Test - 4 - Question 10

The term ‘business environment’ means the sum total of

Business Studies: CUET Mock Test - 4 - Question 11

Investors, customers, competitors and suppliers come under ........... forces.

Business Studies: CUET Mock Test - 4 - Question 12

Specific attitudes that elected government representatives hold towards business is called.......... environment.

Business Studies: CUET Mock Test - 4 - Question 13

Even though the political conditions vary from country to country, they impact the sentiment of an investor in the business, if the instability of the political conditions cause uncertainty and make it difficult for him to predict the future.
Which feature of the Business Environment is being highlighted in the above statement?

Business Studies: CUET Mock Test - 4 - Question 14

_______ is considered as the major element of political environment.

Business Studies: CUET Mock Test - 4 - Question 15

Non-discriminatory employment practices is the part of which dimension of business environment?

Business Studies: CUET Mock Test - 4 - Question 16

Foreign Investment Promotion Board (FIPB) was setup to promote and channelise _______ investment in India.

Business Studies: CUET Mock Test - 4 - Question 17

______ is considered a major element of the economic environment.

Business Studies: CUET Mock Test - 4 - Question 18

Earlier firms used to follow production orientation concept and now they study and analyse the market first and then produce the goods.

Business Studies: CUET Mock Test - 4 - Question 19

Which one is a specific force for a garment manufacturing industry?

Business Studies: CUET Mock Test - 4 - Question 20

The cost of production increased due to increase in minimum wage rate by government is an economic dimension.

Detailed Solution for Business Studies: CUET Mock Test - 4 - Question 20

It is legal as the minimum wage rate is determined under Minimum Wages Act, 1948.

Business Studies: CUET Mock Test - 4 - Question 21

Telecom sector was opened up to private sector as a reform under Economic Policy, 1991. Nokia became the first cellular company to operate in 1994 and dominated the market. Later, it lost its market share and was absorbed by Microsoft. The management of Microsoft examined the environment and made suitable changes.Identify the point of importance of business environment with appropriate actions reflected in the above case.

Detailed Solution for Business Studies: CUET Mock Test - 4 - Question 21

Monitoring environment and adopting suitable business practices help in improving present performance.

Business Studies: CUET Mock Test - 4 - Question 22

Understanding of business environment may assist an enterprise in planning and policy formulation.

Business Studies: CUET Mock Test - 4 - Question 23

Our economy consists of private sector and public sector.

Business Studies: CUET Mock Test - 4 - Question 24

Identify the key elements of planning from the following.

Business Studies: CUET Mock Test - 4 - Question 25

Which of the following is a feature of planning?

Business Studies: CUET Mock Test - 4 - Question 26

Which of the following is not a step in the process of planning?

Detailed Solution for Business Studies: CUET Mock Test - 4 - Question 26

Job allocation is a part of organising process.

Business Studies: CUET Mock Test - 4 - Question 27

A Co is manufacturing garments. The manager wants to increase profits by purchasing new high speed machines or increasing the sale price or using waste materials in manufacturing stuffed toys. He decided that “using waste material” is the best solution for him. Identify the concept of management involved.

Business Studies: CUET Mock Test - 4 - Question 28

Rahul decided to start a desert cooler manufacturing business. He sets the target of earning 20% profit on sales in the first year. He was very much concerned about the future prospects of the business, which were uncertain. For this, he gathered information from the potential market and analysed that the demand for wall mounted coolers is increasing day by day. He used this information as the base for future planning. On the basis of the gathered information, he called a meeting in the following week to find new methods to achieve the objective.
Identify the function of management involved in the above case.

Business Studies: CUET Mock Test - 4 - Question 29

Gautama, Product Head at Ashok Leyland Limited, plans to make his company of the decade. For this purpose, he sets objectives, prepares strategies and other action plans keeping the internal as well as external forces in mind so that departments and individuals working in the organisation are able to decide what action should be taken and in which direction. Identify the importance of management highlighted in the case.

Business Studies: CUET Mock Test - 4 - Question 30

Which of the following steps in the process of planning states that the manager is required to make certain assumptions about the future?

Business Studies: CUET Mock Test - 4 - Question 31

To see whether plans are being implemented and activities are being performed according to the schedule, is a step of planning process. Identify the step.

Business Studies: CUET Mock Test - 4 - Question 32

On the introduction of ‘Goods and Services Tax Act’, experts in the field of business started analysing and forecasting its impact on various sectors and industries. Kanha, an established businessman, attended a few seminars and conferences organised by such experts to familiarise himself with this information. He wanted to use these forecast and conjectures to reduce the uncertainty in making decisions for the future in his business.
Name the step in the planning process that is being discussed in the above paragraph.

Business Studies: CUET Mock Test - 4 - Question 33

“A plan is framed, it is implemented, and is followed by another plan, and so on.” Identify the feature/characteristic of planning highlighted above.

Business Studies: CUET Mock Test - 4 - Question 34

“It is not always true that just because a plan has worked before it will work again. Besides, there are so many other unknown factors to be considered. This kind of complacency and false sense of security may actually lead to failure of planning.” Identify the limitation of planning highlighted above.

Business Studies: CUET Mock Test - 4 - Question 35

“Accurate forecasts become essential for successful plans.” Identify the step of one of the functions of management highlighted above.

Business Studies: CUET Mock Test - 4 - Question 36

“In financial plans, the risk-return trade-off is very common. The more risky the investment, the higher the returns it is likely to give. To evaluate such proposals, detailed calculations of earnings, earnings per share, interest, taxes, dividends are made and decisions taken.” Identify the step of planning function of management highlighted above.

Business Studies: CUET Mock Test - 4 - Question 37

Planning is the most challenging activity for the management as ______

Business Studies: CUET Mock Test - 4 - Question 38

Reliable communication limited scans the business environment and adapt itself to the changes in the environment, yet it becomes difficult to foresee the future trends. Which limitation of planning is related to the above statement?

Business Studies: CUET Mock Test - 4 - Question 39

Directions: There are two statements marked as Assertion (A) and Reason (R). Read the statements and choose the appropriate option from the options given below

Assertion (A): The various functions of management are interrelated, however, planning provides the basis for all other functions.
Reason (R): Planning is a continuous activity.

Business Studies: CUET Mock Test - 4 - Question 40

Directions: Read the following text and answer questions on the basis of the same.
After completing a diploma in interior decoration, Malini Birwal setup a small office at Chandigarh to render services. Being new in the field of entrepreneurship, she put in logical and systematic thinking involving foresight, intelligent imagination and sound judgement rather than guess work. She made certain assumptions as she knew that only accurate forecast will act as the base material upon which the plans are to be drawn. Her friend, Neeru Sharma, who has done MBA, advised her to do planning effectively as a good planning will help develop managerial response to deal with the changes and uncertain events. So, she acted in a conscious manner and made sub-plans for the juniors to follow.

Q. Which feature of planning is highlighted in the above case study?

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