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: - Which of the following means management should promote a team-spirit of unity and harmony among employees?
- Matrix organisation violates which of the following management principles?
Match the List-I with List-II
LIST I LIST II A. Organisational Structure I. Refers to the delegation of authority throughout the organisation. B. Span of Management II. Groups activities on the basis of products. C. Divisional Structure III. Refers to the number of subordinates under a supervisor. D. Decentralisation IV. The framework within which managerai and operating tasks are operated.
Choose the correct answer from the options given below:Match the List-I with List-II
LIST I LIST II A. Unity of Command I. Maintaining high morale among employees is imperative B. Unity of Direction II. Hierarchical, formalised communication channel C. Scalar Chain III. Functions have only one plan and one boss D. Espirit de Corps IV. Sub-ordinates reports to only one boss
Choose the correct answer from the options given below:
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