Using least amount of input to achieve maximum output refers to achieving controlling offoctivenoss © efficiency goal attainment is used by marketers to systematically collect and analyze publicly available information about customers and competitors in the market place. Marketing research © Market inteligence Intermal data Marketing myopia Which of the following would notbe an operations activity in 2 fast-food restaurant? © Advertising new salad dishes Purchasing tomatoes Planning the layout of the serving areas Cooking Chinese dish The inputs to a transformation process include all of the following except Material People Information © Transportation Regional factors for location planning include all of the following except: Raw materials Markets Labor considerations © AttitudesPsychological tests for executive selection are helpful, but have a serious limitation, which is: cost in terms of time and of interpretative gracing © lack of agreement on what traits should be induded dislike of many competent managerial candidates in being subjected to them wastage of pracious time Discipline actions are required in case of: Option (iis correct, Option (i) 8 correct Option is conect © Option (v) is correct Actions taken by manager to enforce organisations standard. Concurrent rules, © Discipline ections Empowerment LeverageA balanced scorecard usually includes: Option (i) is correct Option (i) is correct Option (i) Is correct Option (iv) is correct Internal benchmarking can be nurtured by: Option ()is correct Option (i is correct Option (ii) is correct © Option (v)is correctBudgetary control can be improved by: Option () Is correct Option ¢i © Option (v) is corect The process of enabling workers to Set their own work goals and make their own decisions Participation, ® Empowerment Benchmark, Flexibility is a numeric pian for allocating resources to specific activities. Benchmark Scorecard Six sigma(Outputs of goods and services produced divided by the inputs needed provides effectiveness: assets turnover © productivity leverage control takes place during an activity. Management by walking around ® Concurront Feedforward Benchmarking 's a performance measurement tool that looks at more than just the financial perspeciive. Benchmarking, Gep analysis © Balanced scorecard Business process re-engineering How efficiently organization is using its assets is determined by liquidty ratios leverage ratios © activity ratios profitabiity ratios,ratios tests the firm’s ability to meet short-term obligations. © Liquidity Leverage Activity Profitability When a manager is out in the workplace interacting directly with employees, itis called concurrent control © management by walking around feedforward control management by objectives 's the fundamental rethinking and racical redesign of business processes, to achieve dramatic improvements in critical contemporary measures of performance such as quality, cost, serviceand speed Business process outsourcing © Businass process re-engineering Balance scorecard Six sigma In method of performance appraisal, evaluator utilizes feedback from supervisors, employees, coworkers in order to appraise employees’ performance. ® 360- Degree Appraisal MBO. Muttiperson comparison Critical incidentWhich of the following is not the measure might be used to assess the work of the finance function using a balance scorecard? Value enhancements Customer satisfaction Profits for investment @ Leamning and taining is a process if systematic companion of a service, proactive @h process, provide @ target for action in order to improve competitive position © Benchmarking Gap analysis Statistical process control Continuous important When a company extends existing brand names to new forms, colours, sizes, ingredients or flavours of an existing product category, it is called cobranding A division/Strategic Business Unit (SBU) that has high market growth rate and high relative market share, would be classified as in a Boston Consulting Group (CG) matrix. ® star question marks og cash cowThe goal of marketing is (i) To attract new customers bv promisina superior value Option (i)is correct Option (iis correct Option (i) is correct © Option (v) is correct means the marketing logic by which the company hopes to create customer value and achieve profitable relationships. © Marketing strategy HRM Market equity Marketing process is defined as managing profitable customer relationships. Management process ® Marketing Human resource management Controlling task are human needs as shaped by incividual personality and culture. Comforts Demands ValuesAllow budget approach of marketing that relies on ingenuity, cleverness, and surprise rather than traditional techniques refer to as: Bull marketing Menkey marketing Cow marketing ® Guernila marketing involves dividing a market into smaller groups of distinct needs, characteristics or behaviours that might require separate marketing strategies or mixes, Positioning Market targeting © Market segmentation Product differentiation Nestle leveraged the strength ofits ‘Magg/’ to launch ‘Maggi Noodles’, ‘Magi Tomato Ketchup’ and ‘Maggi Soup’. Thisis an example of. line extension new brands ‘multi brands © brand extension . 2 promotion tool, that is defined as “any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor’ ® Advettisng Sole promotion Direct marketing Public relation,Acompany must consider four special service characteristics when designing marketing programs. means that service cannot be seen, tested, felt, heard, or smelled before they are bought. Inseparebilty Variability Business buyers can be segmented geographically, demographically, user status and loyalty siatus. ‘segmentation divide a market into different groups-based on social ciass, life style, or personallty characteristics. geographic Beneft © Psychographic Occasion ‘A company is sald ts be’emplaying strategy, when f introduces, new flavors, sizes etc) to an existing brand. family branding multi-branding © line extension brand retention Sony introduced the world’s frst high-definition television (HDTV) to the Japanese market with a very high price. This type of pricing refers to as; rmerket-penetration pricing product.ine pricing captive-product pricing © market-skimming pricingCartridges with printer is an example of © Captive-produet Optional product By-product Preduct bundle Marketing stimuli con: GV nenduet Option i)is correct Option (i is comet Option (ii) is correct © Option (v) is corect Consumers are highly involved in a purchase and perceive significant differences among brands. This type of buying behaviour refers to as: habitual buying behaviour variety-seeking behaviour ® complex buying behaviour dissonance reducing buying behaviourKFC started to provide its food in containers that are environment friendly and can be recycled. This activity of KFC shows that the company is following © societal marketing concept product concept seling concept sales concept Adivision/Strategic Business Unit (SBU) that has low market growth rate and high relative market share, would be Classified as in a Boston Consulting Group (BCG) matrix. star question marks dog @ cash cow Afirm has decided to localize its products and series to meet local market demands which one of the following approaches is a good approach for this segmentation? © Geographic Demographics Psychographics Behavioral The process of building and maintaining proftable customer relationships by delivering customer satisfaction is known as societal marketing management duality management partner relationship management © customer relationship managementPricing strategy in which initially low price is set to capture a large market share is market-skimming pricing © market-penetration pricing captive product pricing optional-product pricing products are consumer products that customers usually buy frequently, immediately and with minimal comparison and buying effor. ® Convenience ‘Shopping Specialty Ursought Selection tool which is very rarely used: ® physical examinations interviews vaitten tests application form Employees with different backgrounds and different cultures refers to depression @ divorsty segmentation ethical dlemmaCodes of ethics for workforce doesn't include: © dress in casual way don't use ebusive language follow rules comply with safety regulation Purpose of HR planning includes © meeting future HR needs minimization of cost ensuring qualty product mainiain profitability (Once a company have a pool of applicants for job, next step in HRM process is interview test @ selection orientation Introducing a new employee to his/her job and organization is called training ® ofientation performance simulation aptitude testingBenefits of realistic job preview (RJP) does not includes: job satisfaction reduce tumover Information about company promotion Physical requirements for a job is mostly for. purpose. promotion insurance bonus appraisal Benefits of workforce diversity includes: Option (i) is correct Option (i) is correct Option (ii) is correct Option (iv) is correctThe principles of conduct governing an individual or a group are called (i) Ethies © Option () is correct Option is comect Option (ii) is correct Option (is correct Which one of the following is a relatively good predictor for supervisory positions? Performance-simulation tests © Wiltten test Interviews: Physical examinations describes the minimum qualification that a person must possess to Successfully perform a jab. Job description ® Job specification Recruitment Human resource management Option (i correct, Option (i) is correct Option (ii) is correct © Option (iv) is correctThe are permanently employed people who represent the distinctive knowledge and competences of the firm. technical core ‘workors group © professional core bureaucratic aroup means temporary or permanent involuntary termination that may last only for afew days or extend to years. Early retirement Firing Attrition © Loyot expresses the vertical expansion of a job by adding planning and evaluating responsibilities. Job design Job depth ® Job enrichment Job enlergement is a training method in which employees participate in role playing, Simulations, or other face-to-face types of training. Job rotation Intemal Transfer © Experiential exercises Workbooks! manualsWhich one of the following is a part of the recruitment rather than the selection process? @ Job analysis Interviewing Testing ‘Asaesoment centre Which one of the following is not the aim of reward system? Encouragement Metivation ® Fletime Qualiy of staf Employers forced to work hard with inadequate rewards is termed as calculation cooperative committed Any artificial device that is able to perform functions ordinarily thought to be appropriate for human beings. ® Robot Wifi Iso 9000 Pareto charts Process of designing work so that it can be completely performed by machine, ® Automation Value-chain Arifcial transformation ‘Supply-chainSet of processes and systems used by organization for its operations. Tools: ® Technology Human resource Finance Flow method may not be suitable for: petroleum products oil paints/water paints ® auiomotiles food products Production method which customize according to specific customer Is called © Job method Batch method Flow method Kaizen method organization produces intangible output and create time or place utility for its customers Manufacturing ® Services Lean kazen80-20 tule is also referred to as © Pareto principle Check Sheets, Flowchart Pie charts Inventory costs is significantly reduced in © Justin-Time Taguchi Batch costing Six sigma Cost of quality includes: Option (iis correct Option (I) is correct Option © Option (iv) ia correctImproved quality helps in increasing profit by Option (i) is correct Option (i) is correct Option (ii) is correct © Option (iv) ® correct For the analysis of sales and customers, erganiZation uses © Customer relationship managemerfit (CRM) Distribution resource planning (ORP) Enterprise resource'planning (DRP) Optimized Production Technology (OPT) Partnership between an organization and a foreign company partner in which both share resources and knowledge in developing new products or building procuction facilities refers to as Licensing © Strategic aliance Foreign subsidiary Corporate allianceis/are service characteristic(s) that a company must consider when designing rogram Option (iis correct Option (i) is correct Option (ii) is conect © Option (v)is correct The research which gather preliminary information that helps to define problems and suggest hypotheses, refers to as research market ® exploratory product causal is the first idea-reducing stage, which helps spot good ideas and drop poor ones a5 soon as possible. Idea source ® Idea screening Concept development Idea testing Atime-phased stockreplenishment plan for all levels of a supply chain. © Distribution resource planning (DRP) Enterprise resource planning (ORP) Periodic order quantity (POQ) Economic order quantity (EOQ)‘An inventory ordering technique that issues orders on a predetermined time interval Economic order quantity (EOQ) ® Potiodic order quantity (POO) Plannad order release Plannad order receipt ‘The quantity planned to be received at a future date. Reorder quantity ® Planned order receiot Order receivable Planned order release refers to the duration ittakes'to get various components for production Reorder time ® Leadtime Ordering cycle Production cycle The dependent demand technique used in a production environment to determine material requirement is called © Matetial requirements planning (MRP) Master production schedule (MPS) Enterprise Resource Planning (ERP) (Optimized Production Technology (OPT)Master production schedule (MPS) specifies ‘what is to be purchased and when © Whats to be made and when whats to be sold and when whats to be received and when ‘An organization adopting a philosophy of minimizing waste and striving for perfection is called Customer orientation Mass customization ® Lean organization Six sigma refers to providing customers with a product when, where and how they want ® Mass customization Lean organization Six sigma Benchmarking is the stage of the business buying process in which the buyer invites qualified ‘Suppliers to Submit proposals. General need descript Problem recognition ® Proposal solicitation Supplier search's the abilily of products and services to reliably do what it s supposed to Go and to salisty customer's expectations. © Quality ‘Value ‘Value chain Variety The term operation management refers to the transformation process that converts resources: into finished goods © finished goods and services services supply chain The activities involved with receiving, handling and storing inputs to the production system are called affer sales service bound logistics operations: sales & marketing As per Michael Porter's Value Chain theory, is not regarded as primary activity ® finance inbound logistics operations ‘outbound logisticsis @ quality standard that establishes a goal of no more than 3.4 defects per million units or procedures. Tom ® Six Sigma Balanced Scorecard Kaizen are those activities relating to storing the final product and its istribution to customers. Inbound logistics Marketing and sales © Outbound logstics Operation is nota tool of TOM. Six Sigma ® Servqual Method Kaizen Quality Circles ISO certified companies have had their processes and procedures checked and verified by an dependent lawyer ® independent registrar independent lawyer judgeTotal Quality Management (TOM) and Intemational Organization for Standardization (ISO) both focuses on © customers employees, suppliers human resource The process of monitoring specific project results to determine if they comply with relevant quality standards is called duality assurance © quality control quality planning quality review