MGT503 Quiz 2 by Sahirullah

MGT503 QUIZ 02 SOLVED BY SAHIRULLAH

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Q1. Mega environment that includes attitudes, values, norms, beliefs, behaviors and demographic trends:

Technological element Legal political element

Socio-cultural element ✔

Economic element

Q2. Basic definition of ethics:

Principles that define right and wrong conduct ✔

Laws set by government Rules of a company Personal opinions

Q3. Income and age distribution, attitude to work and pursuit of healthy lifestyle are examples of:

Economic factors

Socio cultural ✔

Technological factors Legal factors Principles of Management - Practical Revision Guide

Q4. When a company meets pollution control standards established by federal government:

Social responsiveness

Social obligation ✔

Social responsibility Social policy

Q5. The socioeconomic view is that management’s social responsibility goes beyond making profits to:

Maximize shareholder wealth Follow government regulations only

Protect and improve society’s welfare ✔

Reduce employee wages

Q6. Once the complete information is gathered for solving the problem, the next step is:

Gather information Define the problem Chose a course of action

Identify the alternatives ✔

Q7. Which one of the following ethical approaches exemplifies the belief that every person has fundamental human rights that should be respected as well as protected?

Individualism approach Utilitarianism approach

Rights approach ✔

Justice approach

Q8. It is assumed that a perfectly rational decision maker:

Does not follow rational assumptions Does not consider value maximizing as an objective

Would be objective and logical ✔

Offers inconsistent decisions

Q9. The process through which raw materials changed into consumer products is termed as:

Marketing process Development process

Transformation process ✔

Procurement process

Q10. Associations of different nations like European Union & NAFTA have been established to:

Share the armies of each other Stabilize the political systems All of the given options

Promote open trade among nations ✔

MGT503 Principles of Management | Solved by Sahirullah