Business Studies Test

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Business Studies Test - 35

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Weekly Quiz Competition

Question 1
5 / -1

Directions For Questions

Direction: Read the passage and answer the question that follow:

In today's competitive business environment, the value of human resources cannot be overstated. A company's success largely depends on having the right people in the right roles. Organizations like Infosys, a leading IT company, have always emphasized the importance of staffing as an ongoing process that requires careful planning and strategy. The company, for example, not only focuses on recruiting employees but also places a significant focus on retaining them by offering opportunities for development and career progression. It acknowledges the role of leadership in creating a culture that attracts and retains talent. Narayana Murthy's leadership, marked by humility and a commitment to employee empowerment, is a prime example of this approach. He believes that an organization’s most valuable asset is its human capital, and investing in staffing decisions is crucial for sustainable success.

...view full instructions

What is the primary factor contributing to a company’s success, according to the passage?

A
Financial investments

B
Marketing strategies

C
Human resources

D
Technological advancements

Solution

Human resources

The passage emphasizes that having the right people in the right roles is the key to a company's success.
Question 2
5 / -1

Directions For Questions

Direction: Read the passage and answer the question that follow:

In today's competitive business environment, the value of human resources cannot be overstated. A company's success largely depends on having the right people in the right roles. Organizations like Infosys, a leading IT company, have always emphasized the importance of staffing as an ongoing process that requires careful planning and strategy. The company, for example, not only focuses on recruiting employees but also places a significant focus on retaining them by offering opportunities for development and career progression. It acknowledges the role of leadership in creating a culture that attracts and retains talent. Narayana Murthy's leadership, marked by humility and a commitment to employee empowerment, is a prime example of this approach. He believes that an organization’s most valuable asset is its human capital, and investing in staffing decisions is crucial for sustainable success.

...view full instructions

What is Infosys’ approach to staffing?

A
Focus on recruitment alone

B
Focus on recruitment and retention with development opportunities

C
Only focusing on recruitment

D
Providing minimal career progression

Solution

Focus on recruitment and retention with development opportunities

The passage explains that Infosys emphasizes recruitment, retention, and providing opportunities for development and career growth.
Question 3
5 / -1

Directions For Questions

Direction: Read the passage and answer the question that follow:

In today's competitive business environment, the value of human resources cannot be overstated. A company's success largely depends on having the right people in the right roles. Organizations like Infosys, a leading IT company, have always emphasized the importance of staffing as an ongoing process that requires careful planning and strategy. The company, for example, not only focuses on recruiting employees but also places a significant focus on retaining them by offering opportunities for development and career progression. It acknowledges the role of leadership in creating a culture that attracts and retains talent. Narayana Murthy's leadership, marked by humility and a commitment to employee empowerment, is a prime example of this approach. He believes that an organization’s most valuable asset is its human capital, and investing in staffing decisions is crucial for sustainable success.

...view full instructions

Which leadership style is highlighted as important for staffing success?

A
Humble and empowering leadership

B
Authoritarian leadership

C
Laissez-faire leadership

D
Transactional leadership

Solution

Humble and empowering leadership

Narayana Murthy’s leadership style, marked by humility and empowerment, is highlighted in the passage as key to staffing success.
Question 4
5 / -1

Directions For Questions

Direction: Read the passage and answer the question that follow:

In today's competitive business environment, the value of human resources cannot be overstated. A company's success largely depends on having the right people in the right roles. Organizations like Infosys, a leading IT company, have always emphasized the importance of staffing as an ongoing process that requires careful planning and strategy. The company, for example, not only focuses on recruiting employees but also places a significant focus on retaining them by offering opportunities for development and career progression. It acknowledges the role of leadership in creating a culture that attracts and retains talent. Narayana Murthy's leadership, marked by humility and a commitment to employee empowerment, is a prime example of this approach. He believes that an organization’s most valuable asset is its human capital, and investing in staffing decisions is crucial for sustainable success.

...view full instructions

What is the role of leadership in staffing, according to the passage?

A
Only hiring the best candidates

B
Creating a culture that attracts and retains talent

C
Focusing solely on financial rewards

D
Ensuring quick recruitment

Solution

Creating a culture that attracts and retains talent

The passage mentions that leadership plays a crucial role in creating a culture that attracts and retains talent.
Question 5
5 / -1

Directions For Questions

Direction: Read the passage and answer the question that follow:

In today's competitive business environment, the value of human resources cannot be overstated. A company's success largely depends on having the right people in the right roles. Organizations like Infosys, a leading IT company, have always emphasized the importance of staffing as an ongoing process that requires careful planning and strategy. The company, for example, not only focuses on recruiting employees but also places a significant focus on retaining them by offering opportunities for development and career progression. It acknowledges the role of leadership in creating a culture that attracts and retains talent. Narayana Murthy's leadership, marked by humility and a commitment to employee empowerment, is a prime example of this approach. He believes that an organization’s most valuable asset is its human capital, and investing in staffing decisions is crucial for sustainable success.

...view full instructions

How does Narayana Murthy view human resources?

A
As a cost center

B
As an essential asset for the organization

C
As replaceable components

D
As a temporary need

Solution

Narayana Murthy views human resources as the most valuable asset for an organization. He is known for valuing human resources as one of the most critical assets, crucial for organizational success. This perspective aligns with standard business and management principles that emphasize the importance of human resources in strategic planning and company growth.
Question 6
5 / -1

Planning is a ___________

A
Useless Function

B
One time process

C
Mental Exercise

D
Obsolete Concept
Solution
Planning is primarily a mental exercise. This involves:
- Thinking ahead to organise tasks and resources.
- Setting goals and figuring out the steps to achieve them.
- Anticipating potential challenges and finding solutions.
Effective planning helps in making informed decisions and improving efficiency.
Question 7
5 / -1

Which one of the following is a limitation of planning?

A
Planning helps in decision making

B
Planning leads to rigidity

C
Planning reduces risk of uncertainty

D
Planning provides directions
Solution
Planning has several benefits, but it can also have certain drawbacks. One notable limitation is that planning can lead to rigidity. This occurs because:
- Plans may be too structured, making it difficult to adapt to unexpected changes.
- It can discourage creativity and innovation by focusing too much on sticking to the plan.
- There is often an over-reliance on the initial plan, which can hinder flexibility.
Thus, while planning is essential, it is crucial to maintain some level of flexibility to adapt to unforeseen circumstances.
Question 8
5 / -1

If a firm has decided to sell its product on cash basis only, it is part of firm's _________

A
Procedure

B
Method

C
Policy

D
Objectives

Solution

The decision of a firm to sell its product on cash basis only is a part of the firm's policy. A policy is a predetermined course of action that guides the decision-making process of an organization. It represents the guidelines that dictate the actions of individuals in the organization and reflects the overall objectives and goals of the organization. In this case, the policy of the firm is to only accept cash for its products.
Question 9
5 / -1

Programmes are ________

A
Policies

B
Not Detailed Statement

C
Rules

D
Detailed Statements

Solution

A program is a detailed plan of action aimed at accomplishing a clear business objective, with details on what work is to be done, by whom, when, and what means or resources will be used.
Question 10
5 / -1

Directions For Questions

Direction: In the questions given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements, which one of the following is correct?

...view full instructions

Assertion (A): State Commission to consumer protection is head by a President, who have been a Judge of High Court.

Reason (R): Consumer Protection Commission is a Quasi-Judicial Body.

A
Both A and R are true and R is the correct explanation of A

B
Both A and R are true, but R is not the correct explanation of A

C
A is true, but R is false

D
A is false, but R is true

Solution

The Commission is headed by a sitting or retired Judge of the High Court. The Commission is presently headed by Hon'ble Mrs. Justice Daya Chaudhary, former Judge of the Punjab and Haryana High Court. State Commission deals with the consumer complaints where the value of goods or services paid as considered exceeds Rs.One Crore but upto Rs.Ten Crore, filed by the consumers under the Act. State Commission acts as Appellate Authority under Section 41 and Section 47 of Consumer Protection Act, 2019.

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Re-Attempt Weekly Quiz Competition

Business Studies Test - 35

Result

Business Studies Test - 35

Score

-

Rank

-

SHARING IS CARING

Question 1

Financial investments

Marketing strategies

Human resources

Technological advancements

Solution

Question 2

Focus on recruitment alone

Focus on recruitment and retention with development opportunities

Only focusing on recruitment

Providing minimal career progression

Solution

Question 3

Humble and empowering leadership

Authoritarian leadership

Laissez-faire leadership

Transactional leadership

Solution

Question 4

Only hiring the best candidates

Creating a culture that attracts and retains talent

Focusing solely on financial rewards

Ensuring quick recruitment

Solution

Question 5

As a cost center

As an essential asset for the organization

As replaceable components

As a temporary need

Solution

Question 6

Useless Function

One time process

Mental Exercise

Obsolete Concept

Solution

Question 7

Planning helps in decision making

Planning leads to rigidity

Planning reduces risk of uncertainty

Planning provides directions

Solution

Question 8

Procedure

Method

Policy

Objectives

Solution

Question 9

Policies

Not Detailed Statement

Rules

Detailed Statements

Solution

Question 10

Both A and R are true and R is the correct explanation of A

Both A and R are true, but R is not the correct explanation of A

A is true, but R is false

A is false, but R is true

Solution

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