Principles of Management | Week 4
Course Name: Principles of Management
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These are Principles of Management Week 4 Assignment 4 Answers
Q1. Which of the following is not a technique of assessing the environment?
a. Environmental scanning
b. Scenario Planning
c. Profit and loss statement
d. Forecasting
Answer: c. Profit and loss statement
Q2. Statement I: Forecasting means prediction of outcomes
Statement II: Forecasting creates a foundation for environmental scanning
Read the statements and select the correct option:
a. Both statements I and II are correct
b. Statement I is correct and statement II is incorrect
c. Statement II is correct and statement I is incorrect
d. Both statements I and II are incorrect
Answer: b. Statement I is correct and statement II is incorrect
These are Principles of Management Week 4 Assignment 4 Answers
Q3. Qualitative methods of forecasting are used when:
a. The management doesn’t have precise data
b. The management decides to make good quality forecasts
c. The management wants to make presentations to top level executives
d. The management has all the hard data to make a decision
Answer: a. The management doesn’t have precise data
Q4. Which of the following techniques can be used to determine next quarter’s revenue on the basis of last 5 years’ revenue?
a. Delphi Method
b. Time Series Analysis
c. Regression Analysis
d. Econometric model
Answer: b. Time Series Analysis
These are Principles of Management Week 4 Assignment 4 Answers
Q5. Which of the following does not come in the ambit of HR Planning?
a. Operational Planning
b. Succession Planning
c. Personnel Planning
d. HR demand forecasting
Answer: a. Operational Planning
Q6. Which of the following methods uses “structured iterative process” to forecast something?
a. Jury of Opinion
b. Market Survey
c. Focus Group Technique
d. Delphi Method
Answer: d. Delphi Method
These are Principles of Management Week 4 Assignment 4 Answers
Q7. Which of the following is best described by the sentence “Keeping the best practice in view and learning from it”?
a. Customer Evaluation
b. Benchmarking
c. Economic Forecasting
d. Market Survey
Answer: b. Benchmarking
Q8. “Rs. 4 Lakhs is expected to be spent on repairs for factory floor this year”. This statement is most likely arrived at using which technique:
a. Delphi Method
b. Benchmarking
c. Budgeting
d. Scheduling
Answer: c. Budgeting
These are Principles of Management Week 4 Assignment 4 Answers
Q9. Which of the following technique of scheduling is used if the activities are dependent on each other?
a. Gantt Chart
b. Load Chart
c. PERT
d. Gantt chart and Load Chart
Answer: c. PERT
These are Principles of Management Week 4 Assignment 4 Answers
Q10. Considering some situations to hit business in near future and planning responses for such situations is:
a. Scenario Planning
b. Project Planning
c. Programme Evaluation and Review Technique
d. Succession Planning
Answer: a. Scenario Planning
These are Principles of Management Week 4 Assignment 4 Answers
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