Mgt503 VU Midterm Current Papers Fall 2011 of Virtual university of paksitan (www.vusolutions.com)
Total questions was 32, MCQs were 28 and 4 long question. MCQs was mostly from old paper.
Which of the following is NOT one of Fredrick Taylor's four principles of management?
► Avoid cooperation with workers page no16
► Scientifically select and then train workers
► Divide work and responsibility
► Study tasks scientifically and develop best method to perform it
Ali is a Branch Manager at Mutual Saving Bank. If he is an average middle manager, which of the following management activities is he likely to spend the greatest amount of time?
► Planning
► Controlling
► Leading
► Organizing
Who stands responsible for managing contingent situations?
۩ Spokesperson
۩ Monitor
۩ Leader
۩ Disturbance handler
Explain programmed decision making. 3
"A organization cannot work effective until the open system use" are u agree this statement? 03
What is system theory and how it works? (05) Answer page number 25
What are the unique characteristics that emphasize the significance of rational decision making? 05
ANSWRE
According to the rational model of decision making, managers engage in completely rational decision processes, ultimately make optimal decisions, and possess and understand allinformation relevant to their decisions at the time they make them. including all possible alternatives and all potential outcomes and ramifications
Steps:-
identifying a problem.
identifying the decision criteria.
allocating weights to the criteria
involves developing alternatives
analyzing alternatives.
involves selecting an alternative
choosing a course of action and implementing the alternative
involves evaluating the decision effectiveness
Managerial decision making is assumed to be rational; that is, choices that is consistent and value maximizing within specified constraints. The assumptions of rationality are summarized below.
a These assumptions are problem clarity (the problem is clear and unambiguous); goal orientation (a single, well-defined goal is to be achieved); known options (all alternatives and consequences are known); clear preferences; constant preferences (preferences are constant and stable); no time or cost constraints; and maximum pay off.
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