Business Studies Test - 34

Autocratic leadership (1) involves top-down control with limited input from subordinates, so B is the match.

Democratic leadership (2) encourages collaboration and consultation, allowing employees to influence decisions, making A the correct answer.

Job enrichment (3) involves increasing the variety and responsibility in tasks, hence C is the fit.

Career advancement opportunities (4) help employees grow and progress in their careers, so D fits well.

Planning is commitment to a certain work to achieve specific results. The two types of plane are Standing plans and Single-use plans.

Standing Plans- These plans are formulated to guide managerial decisions and actions on problems which are recurring in nature. They are also known as ‘repeated use plans’.

Single use plans- These plans are used to solve a particular problem that is non-recurring in nature.

Programmes are the combinations of objectives,policies,procedure and rules all these plans together form a program.The programs are made to get the systematic working in the organisation. For example:-Construction of shopping mall,Development of a new product etc. , And development of a new product involves objective policies procedure and rules.

Profitability can be increased by various methods like reducing cost, increasing turnover costs, increasing productivity, and increasing efficiency. 

All of the mentioned methods can be achieved by effective planning. By achieving these methods by planning it will help in increasing profitability, not decreasing it.

Single use plan is developed to address a specific organizational situation. Such a plan is typically used only once because the specific situation to which they apply does not recur. Consider, for example, the plan of SAP Americas, a leading provider of enterprise resource planning and ecommerce solutions, to build a new corporate headquarters. A sophisticated plan was necessary to finance, construct, and move into the new building.

Method is not a strict rule or a rigid policy like a rule or a law, which prohibits you from doing a certain thing and that's why no penalty is charged. it's not a necessity to follow a method, whereas for a law or a rule it is.

A decision matrix is a series of values in a table of columns and rows that allows a person to visually compare possible solutions by weighing their variables based on importance.

Performance management is not part of the decision-making matrix, it is concerned with performance of organization, a department, employee or a particular task.

Training, Lectures and Seminar are different types of methods.  Methods are a standard way of doing jobs for attaining objectives. They are more detailed than procedure. They are helpful in simplifying the work for different jobs and different methods are adopted.

A cash flow budget is a summary of the projected cash inflows and outflows for a business over a period of time. The time period is usually a future accounting period and is divided into quarters or months.

A → 1: Growth objectives focus on expanding market share and ensuring long-term business development.

B → 2: Profit objectives are aimed at generating revenue and ensuring business profitability.

C → 3: Social responsibility involves ethical business practices, contributing positively to society.

D → 4: Managerial efficiency involves optimizing the use of resources and reducing operational costs.