Principles of Management | Week 3
Course Name: Principles of Management
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These are Principles of Management Week 3 Assignment 3 Answers
Q1. Reputation, goodwill, and brand value can be classified as which resource:
a. Human resource
b. Tangible resource
c. Intangible resource
d. Competitive resource
Answer: c. Intangible resource
Q2. Standing plans stands for:
a. One time plan specifically designed to meet the needs of a unique situation.
b. Plans with clearly defined objectives with no scope for ambiguity and misunderstanding.
c. Ongoing plans that provide guidelines for activities performed repetitively including rules, policies and procedures.
d. Plans with a timeframe less than a year, yet organizations can use any timeframe they seem appropriate.
Answer: c. Ongoing plans that provide guidelines for activities performed repetitively including rules, policies and procedures.
These are Principles of Management Week 3 Assignment 3 Answers
Q3. In the process of strategic management, which are three main types of strategies that are included by managers while formulating strategies:
(i) Functional strategy (ii) Concentration strategy (iii) Corporate strategy (iv) Competitive strategy
a. iii-ii-iv
b. iii-ii-i
c. ii-i-iv
d. iii-i-iv
Answer: d. iii-i-iv
Q4. Arrange the planning process in a sequential order:
(i) implementing the plans (ii) identifying alternative courses of actions (iii) follow up actions (iv) setting the objectives (v) developing planning premises.
a. iii-ii-iv-i-v
b. iv-ii-iii-i-v
c. iv-v-ii-i-iii
d. iv-v-i-ii-iii
Answer: c. iv-v-ii-i-iii
These are Principles of Management Week 3 Assignment 3 Answers
Q5. In the process of planning, which of the following example encompasses the idea of “Identifying alternative courses of action”:
a. Nokia company has an objective of 2 lacs units’ sale on the basis of forecast
b. Nokia will evaluate all the alternatives and checks its pros and cons
c. Nokia selects more TV commercials and online marketing with after sales service
d. Nokia may have other alternatives like reducing price, increasing advertising and promotion, and after sales support
Answer: d. Nokia may have other alternatives like reducing price, increasing advertising and promotion, and after sales support
Q6. Tata group has been growing with the value system of JRD with the ethical values set by the founders which the group has still been adopting. What kinds of organizational assets are at play in this example:
a. Physical assets
b. Tangible assets
c. Intangible assets
d. Corporate assets
Answer: c. Intangible assets
These are Principles of Management Week 3 Assignment 3 Answers
Q7. When an organization remains in its primary business by increasing the number of products or adding more variety in their primary product line, it is referred to as which strategy:
a. Growth strategy
b. Concentration strategy
c. Renewal strategy
d. Turnaround strategy
Answer: a. Growth strategy
Q8. A general plan outlining decisions about resource allocation, priorities and action steps necessary to reach the goals is:
a. Long-term plan
b. Tactical plan
c. Strategic plan
d. Short-term plan
Answer: c. Strategic plan
These are Principles of Management Week 3 Assignment 3 Answers
Q9. A __ is anything that a firm has or has learnt to do that enables it to conceive and implement strategies that improve its efficiency and effectiveness.
a. Competition
b. Collective competency
c. Resources
d. Expertise
Answer: b. Collective competency
These are Principles of Management Week 3 Assignment 3 Answers
Q10. Which is the flexible plan that provide focused guidelines but does not bind managers into specific goals or actions:
a. Specific plan
b. Tactical plan
c. Operational plan
d. Directional plan
Answer: b. Tactical plan
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These are Principles of Management Week 3 Assignment 3 Answers
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