Question
Match the items of List - I with the items of List - II and select the code of correct matching :List - I List - II a. Sales Revenue Maximization i. Williamson's Model b. Maximization of a firm's growth rate ii. Cyert-March Hypothesis c. Maximization of Managerial Utility function iii. Baumol's Theory d. Satisficing behaviour model iv. Marri's Theory
The correct answer is
a-iii, b-iv, c-i, d-ii
To solve this question, we must correctly match the items of List - I with those in List - II based on well-known economic theories and models.
- **Sales Revenue Maximization - Baumol's Theory:** Baumol's Theory focuses on maximizing sales revenue, given that managers prioritize sales over profits after reaching a satisfactory profit level. This leads to the match: a-iii.
- **Maximization of a Firm's Growth Rate - Marris's Theory:** Robin Marris proposed that firms aim to maximize their balanced growth rate, which includes maximizing demand for the firm’s products and supply of managerial resources, thereby matching b-iv.
- **Maximization of Managerial Utility Function - Williamson's Model:** Oliver E. Williamson's Model emphasizes that managers prioritize their utility over profit maximizing, including elements like additional expenses on staff perquisites or growth, linking to c-i.
- **Satisficing Behaviour Model - Cyert-March Hypothesis:** The Cyert-March Hypothesis suggests that firms aim to satisfy rather than maximize due to constraints like bounded rationality. Thus, the match is d-ii.
Given these matches, the correct answer from the options provided is:
a-iii, b-iv, c-i, d-ii.
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Important Questions from Principles and functions of management - Teaching
- Match the functions of management
LIST-I LIST-II A. Planning I. activates the organizational methods to work efficiently for achieving organizational purposes. B. Organizing II. to bridge the gap between where we are and where we want to be C. Staffing III. to provide it with everything useful. D. Directing IV. manning the organizational structure.
Choose the correct answer from the options given below: - Assertion (A) : Management of time can be practiced to tackle peak loads
Reason (R) : Allocation of work to family members will be a helpful method - Arrange the steps in preparation of time schedule in the proper sequence :
(a) List all items under flexible and inflexible activities
(b) Write out plan
(c) Determine time sequence
(d) Estimate appropriate time requirements
(e) Balance total estimated time to the available time - Match List – I with List – II and indicate your answer with the help of the codes given :
List - I
(Roles)List - II
(Description)p. Liaison 1. Transmits information to different members of the organisation. q. Disseminator 2. Responsible for representing the organisation at major transactions. r. Negotiator 3. Maintains a network of outside contacts who provide favours and information to the organisation. s. Entrepreneur 4. Searches around for opportunities and also starts innovative projects
Codes: - Arrange the following steps of planning in a sequence :
I. Preparation of derivative plans.
II. Determination of objectives
III. The use of strategy
IV. Providing follow up to the proposed course of action.
V. Establishment of planning premises
VI. Timing and sequence of operations
VII. Selection of the operating plan
Codes :
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