Management Quiz Lec 4-5-6-7-8

Trust Insurance company launched its new voluntary automobile insurance product. The price of the insurance policy is 120 USD, the variable cost associated with the product is 24 USD, the fixed costs are 250 000 USD. Calculate the break-even point for the insurance company?

• 2604

• 2083

• 10417

• 1736

Which of the following decision-making techniques can be used for effectively managing inventory and control production:
I - time-series analysis
II - the economic order quantity (EOQ)
III - Pareto diagram
IV - the just-in-time (JIT) system
V - LIFO and FIFO
VI - decision tree
                              

• II, IV, V  

• I, II, V     

• II, III, IV

• I, II, III

The chain of command answers this question.

• Who reports to whom?

• Where do I go for help?

• How do I know when the task is complete?

• What are the rules?

All of the following are characteristics of a highly formalized organization EXCEPT ________.

• minimum number of rules

• explicit job descriptions

• discretion for employees

• standardized way of doing things

The furniture manufacturing company LLM launched its lucrative office chair product. The price of the chair is 800 USD, the variable cost associated with the product is 180 USD, and the fixed costs are 350 000 USD. Calculate the break-even point for the lucrative office desks.

• 565

• 912

• 750

• 810

What kind of departmentalization would be in place in a government agency in which there are separate departments that provide services for employers, employed workers, unemployed workers, and the disabled?

• customer

• product

• geographic

• outcome

Authority gives an individual the right to do this.

• give orders

• reprimand employees

• command respect

• unlimited resources

Which word best characterizes a mechanistic organization?

• bureaucracy

• collaborative

• adaptable

• informal agility

Which of the following is a key characteristic in an organization with a functional structure?

• departmentalization

• adaptability

• flexibility

• agility

The first step in Lewin's three-step description of the change process involves ________.

• unfreezing the status quo

• freezing the new state

• 
  changing to a new state

• establishing a  status quo