Modern Management Practices Multiple Choice Questions
1. The primary stakeholders are:
A. Customers.
B. Suppliers.
C. Shareholders.
D. Creditors.
Answer: C.Shareholders.
2. . The goal of corporate governance and business ethics education is to:
A. Teach students their professional accountability and to uphold their personal Integrity to society.
B. Change the way in which ethics is taught to students.
C. Create more ethics standards by which corporate professionals must operate.
D. Increase the workload for accounting students.
Answer: C.Create more ethics standards by which corporate professionals must operate.
3. . The corporate governance structure of a company reflects the individual companies’:
A. Cultural and economic system.
B. Legal and business system.
C. Social and regulatory system.
D. All of the above.
Answer: D.All of the above.
4. . The internal audit function is least effective when the department:
A. Is non-independent.
B. Is competent.
C. Is objective.
D. Exhibits integrity
Answer: A.Is non-independent.
5. . Under the _____________, both internal and external corporate governance mechanisms are intended to induce managerial actions that maximize profit and shareholder value.
A. Shareholder theory.
B. Agency theory.
C. Stakeholder theory.
D. Corporate governance theory.
Answer: A.Shareholder theory.
6. . One of the objectives of the Sarbanes-Oxley Act was to:
A. Increase the cost of compliance with federal regulations.
B. Force foreign companies to delist from U.S. capital market exchanges.
C. Improve the quality and transparency of financial reporting.
D. Increase the compliance burden for small companies.
Answer: C.Improve the quality and transparency of financial reporting.
7. . An organization’s appropriate tone at the top promoting ethical conduct is an example of:
A. Ethics sensitivity.
B. Ethics incentives.
C. Ethical behavior.
D. Consequentialist.
Answer: C.Ethical behavior.
8. . An independent director is one who:
A. Did not attend a school supported by the company.
B. Does not have outside relationships with other directors.
C. Does not have any other relationships with the company other than his or her directorship.
D. All of the above.
Answer: C.Does not have any other relationships with the company other than his or her directorship.
9. . The chairperson of the board of directors and CEO should be leaders with:
A. Vision and problem solving skills.
B. The ability to motivate.
C. Business acumen.
D. All of the above.
Answer: D.All of the above.
10. . A board that is elected in a classified system is known as a:
A. Diversified board)
B. Staggered board)
C. Rotating boa
D. d) Declassified board)
Answer: A.Diversified board)
11. . Customer Relationship Management is about
A. Acquiring the right customer
B. Instituting the best processes
C. Motivating employees
D. All of the above
Answer: D.All of the above
12. . CRM technology can help in
A. Designing direct marketing efforts
B. Developing new pricing models
C. Processing transactions faster
D. All of the above
Answer: D.All of the above
13. . A _________ is an organized collection of detailed information about individual customers or prospects that is accessible, actionable and current for marketing purposes such as lead generation and others.
A. Customer database
B. Customer mailing list
C. Business database
D. None of the above
Answer: A.Customer database
14. . _______uses sophisticated mathematical and statistical techniques such as neutral networking and cluster analysis.
A. Data mining
B. Data survey
C. CRM
D. None of the above
Answer: A.Data mining
15. . The main drawback of CRM is
A. Implementing CRM before creating a customer strategy
B. Rolling out CRM before changing the organization to match
C. Stalking, not wooing, customers
D. All of the above
Answer: D.All of the above
16. . The marketing messages committed to customers wishes is a part of
A. Permission marketing
B. Activity marketing
C. Supplier marketing
D. None of the above
Answer: A.Permission marketing
17. . The method used to assess real cost of providing services to an individual customer is
A. Cost based accounting
B. Activity based accounting
C. Turnover based accounting
D. Price based accounting
Answer: B.Activity based accounting
18. . _______is any occasion on which the brand or product is used by end customers.
A. Customer touch point
B. Retailers touch point
C. Company touch point
D. None of the above
Answer: A.Customer touch point
19. . _________ is the study of how individuals, groups and organizations select, buy, use and dispose off goods, services, ideas or experiences to satisfy their needs and wants.
A. Consumer behavior
B. Product cycle
C. Purchase behavior
D. None of the above
Answer: A.Consumer behavior
20. . A consumer buying behavior is influenced by
A. Cultural and social factors
B. Personal factors
C. Both a and b
D. None of the above.
Answer: C.Both a and b
21. . ________ exerts the broadest and deepest influence on buying behavior.
A. Social factors
B. International factors
C. Personal factors
D. Cultural factors
Answer: D.Cultural factors
22. . ________ is the fundamental determinant of a person’s wants and behavior.
A. Culture
B. Attitude
C. Value
D. None of the above
Answer: A.Culture
23. . Indian marketers use a term called socioeconomic classification, which is based on the _______ of chief wage earner.
A. Education
B. Occupation
C. Both a and b
D. None of the above
Answer: C.Both a and b
24. . Socioeconomic system classifies urban households into _____ broad categories.
A. 4
B. 8
C. 6
D. None of the above
Answer: B.8
25. . For the rural areas, the socioeconomic system use _________ of the chief wage earner.
A. Occupation and Type of home
B. Education and occupation
C. Education and type of home
D. None of the above
Answer: A.Occupation and Type of home
26. . Socioeconomic system classifies rural households into _____ broad categories.
A. 8
B. 6
C. 4
D. None .
Answer: C.4
27. . Social class is indicated by ________variables.
A. Single
B. Several
C. Known
D. None .
Answer: B.Several
28. . A person’s _________ are all the groups that have a direct or indirect influence on their attitudes or behavior.
A. Inspirational groups
B. Reference groups
C. Dissociative groups
D. None.
Answer: B.Reference groups
29. . Process of manage information about customers to maximize loyalty is said to be
A. company relationship management
B. supplier management
C. retailers management
D. customer relationship management
Answer: D.customer relationship management
30. . In buyer decision process, percentage of potential customers in a given target market is called
A. customer funnel
B. company funnel
C. marketing funnel
D. retailers funnel
Answer: C.marketing funnel
31. . Aggregate value of customer’s base is classified as
A. shareholder value
B. base value
C. retention value
D. marketers base value
Answer: A.shareholder value
32. . Record which is based on business customers past purchases, sales price and volumes is classified as
A. business database
B. customer database
C. databases marketing
D. company marketing .
Answer: A.business database
33. . Whole cluster of benefits when company promises to deliver through its market offering is called
A. value proposition
B. customer proposition
C. product proposition
D. brand proposition
Answer: A.value proposition
34. . Third step in customer’s value analysis
A. assessing attributes importance
B. assessing company’s performance
C. monitoring competitors performance
D. both b and c
Answer: D.both b and c
35. . All costs customer expects to incur to buy any market offering is called
A. total economic cost
B. total functional cost
C. total customer cost
D. total functional cost .
Answer: C.total customer cost
36. . Percentage or number of customers who move from one level to next level in buying decision process is called
A. conversion rates
B. marketing rates
C. shopping rates
D. loyalty rates
Answer: A.conversion rates
37. . Customized products and services for customers and interaction to individual customers are part of
A. retailers management
B. customer relationship management
C. company relationship management
D. supplier management
Answer: B.customer relationship management
38. . Company’s ‘customer relationship capital’ is another name of
A. satisfied customers
B. dissatisfied customers
C. customer retention
D. customer conversion.
Answer: A.satisfied customers
39. . Company’s monetary, time and energy cost, all are included in
A. total customer cost
B. psychological cost
C. personal benefits
D. image benefits
Answer: A.total customer cost
40. . A person or company that yields a revenue more than incurred costs of selling and serving is called
A. dissatisfaction
B. superior value
C. profitable customers
D. satisfied customers .
Answer: C.profitable customers
41. .The process of MBO starts with —–
A. setting up of obligation
B. Fetron plan
C. Review
D. All
Answer: A.setting up of obligation
42. .Management is a —–
A. profession
B. principles
C. performance
D. None
Answer: A.profession
43. .Management is a —–Activity
A. single
B. group
C. both group and single
D. None
Answer: B.group
44. . Management applies to —-
A. Business unit
B. Family
C. government
D. All
Answer: D.All
45. .A manager needs three skills such as technical, human and —
A. Conceptual
B. Process
C. Accuracy
D. None
Answer: A.Conceptual
46. .Management is a wider concept than administration according to—
A. Oliver Sheltom
B. Fayol
C. Hernold Koontz
D. William Newman
Answer: B.Fayol
47. .MBO was developed by —-
A. Peter.F.Drucker
B. Chester Bernard
C. Fayol
D. None
Answer: A.Peter.F.Drucker
48. . MBO offers the basis for assessing the —
A. operations
B. performance
C. equality
D. None these
Answer: B.performance
49. . who is referred to as father of modern management?
A. Baybrooke and Lindblom
B. Benett G stewartt
C. C K Prahlad
D. Drucker
Answer: D.Drucker
50. . Technological advancement can create new ——-advantages that are more powerful than existing Advantages.
A. Cost advantage
B. profit advantage
C. Competitive
D. Differentiation.
Answer: C.Competitive
51. The goal of corporate governance and business ethics education is to:
A. Teach students their professional accountability and to uphold their personal Integrity to society.
B. Change the way in which ethics is taught to students.
C. Create more ethics standards by which corporate professionals must operate.
D. Increase the workload for accounting students.
Answer: C.Create more ethics standards by which corporate professionals must operate.
52. The corporate governance structure of a company reflects the individual companies’:
A. Cultural and economic system.
B. Legal and business system.
C. Social and regulatory system.
D. All of the above.
Answer: D.All of the above.
53. The internal audit function is least effective when the department:
A. Is non-independent.
B. Is competent.
C. Is objective.
D. Exhibits integrity
Answer: A.Is non-independent.
54. Under the _____________, both internal and external corporate governance mechanisms are intended to induce managerial actions that maximize profit and shareholder value.
A. Shareholder theory.
B. Agency theory.
C. Stakeholder theory.
D. Corporate governance theory.
Answer: A.Shareholder theory.
55. One of the objectives of the Sarbanes-Oxley Act was to:
A. Increase the cost of compliance with federal regulations.
B. Force foreign companies to delist from U.S. capital market exchanges.
C. Improve the quality and transparency of financial reporting.
D. Increase the compliance burden for small companies.
Answer: C.Improve the quality and transparency of financial reporting.
56. An organization’s appropriate tone at the top promoting ethical conduct is an example of:
A. Ethics sensitivity.
B. Ethics incentives.
C. Ethical behavior.
D. Consequentialist.
Answer: C.Ethical behavior.
57. An independent director is one who:
A. Did not attend a school supported by the company.
B. Does not have outside relationships with other directors.
C. Does not have any other relationships with the company other than his or her directorship.
D. All of the above.
Answer: C.Does not have any other relationships with the company other than his or her directorship.
58. The chairperson of the board of directors and CEO should be leaders with:
A. Vision and problem solving skills.
B. The ability to motivate.
C. Business acumen.
D. All of the above.
Answer: D.All of the above.
59. A board that is elected in a classified system is known as a:
A. Diversified board)
B. Staggered board)
C. Rotating boa
D. d) Declassified board)
Answer: A.Diversified board)
60. Customer Relationship Management is about
A. Acquiring the right customer
B. Instituting the best processes
C. Motivating employees
D. All of the above
Answer: D.All of the above
61. CRM technology can help in
A. Designing direct marketing efforts
B. Developing new pricing models
C. Processing transactions faster
D. All of the above
Answer: D.All of the above
62. A _________ is an organized collection of detailed information about individual customers or prospects that is accessible, actionable and current for marketing purposes such as lead generation and others.
A. Customer database
B. Customer mailing list
C. Business database
D. None of the above
Answer: A.Customer database
63. _______uses sophisticated mathematical and statistical techniques such as neutral networking and cluster analysis.
A. Data mining
B. Data survey
C. CRM
D. None of the above
Answer: A.Data mining
64. The main drawback of CRM is
A. Implementing CRM before creating a customer strategy
B. Rolling out CRM before changing the organization to match
C. Stalking, not wooing, customers
D. All of the above
Answer: D.All of the above
65. The marketing messages committed to customers wishes is a part of
A. Permission marketing
B. Activity marketing
C. Supplier marketing
D. None of the above
Answer: A.Permission marketing
66. The method used to assess real cost of providing services to an individual customer is
A. Cost based accounting
B. Activity based accounting
C. Turnover based accounting
D. Price based accounting
Answer: B.Activity based accounting
67. _______is any occasion on which the brand or product is used by end customers.
A. Customer touch point
B. Retailers touch point
C. Company touch point
D. None of the above
Answer: A.Customer touch point
68. _________ is the study of how individuals, groups and organizations select, buy, use and dispose off goods, services, ideas or experiences to satisfy their needs and wants.
A. Consumer behavior
B. Product cycle
C. Purchase behavior
D. None of the above
Answer: A.Consumer behavior
69. A consumer buying behavior is influenced by
A. Cultural and social factors
B. Personal factors
C. Both a and b
D. None of the above.
Answer: C.Both a and b
70. ________ exerts the broadest and deepest influence on buying behavior.
A. Social factors
B. International factors
C. Personal factors
D. Cultural factors
Answer: D.Cultural factors
71. ________ is the fundamental determinant of a person’s wants and behavior.
A. Culture
B. Attitude
C. Value
D. None of the above
Answer: A.Culture
72. Socioeconomic system classifies urban households into _____ broad categories.
A. 4
B. 8
C. 6
D. None of the above
Answer: B.8
73. For the rural areas, the socioeconomic system use _________ of the chief wage earner.
A. Occupation and Type of home
B. Education and occupation
C. Education and type of home
D. None of the above
Answer: A.Occupation and Type of home