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CBSE Questions for Class 12 Commerce Business Studies Controlling Quiz 11 - MCQExams.com
CBSE
Class 12 Commerce Business Studies
Controlling
Quiz 11
A neutral third party who facilitates a negotiated solution by using reasoning, persuasion and suggestions for alternatives is called _____________.
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Mediator
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Arbitrator
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Conciliator
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Consultant
Explanation
Unbiased third-party that mediates situations between two or more parties. His job is to look at all facts involved in the situation and make suggestions with the goal of reaching an amicable decision. A mediator may be appointed by an outside party such as the court, or one of the parties involved may hire a mediator.
In Integrative Bargaining, there is a _______________.
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Win-win situation
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Win-lose situation
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Neutral situation
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Not determined
Explanation
Integrative or Interest-based bargaining is a negotiation strategy in which all parties collaborate to find beneficial outcomes for each. The strategy focuses on finding a ‘win-win’ solution by developing mutually beneficial agreements. Interests, needs, and concerns of each party are taken into consideration to ensure that there is mutual agreement instead of a conflict.
Job ___________ is the process of describing jobs and arranging their interrelationships.
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Design
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Analysis
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Enlargement
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Description
Explanation
Job design is the next step after job analysis. It aims at outlining and organizing tasks, duties and responsibilities into a single unit of work for the achievement of certain objectives. It also outlines the methods and relationships that are essential for the success of a certain job. In simpler terms it refers to the what, how much, how many and the order of the tasks for a job.
A third party to a negotiation who has the authority to dictate an agreement is called ___________.
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Mediator
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Arbitrator
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Conciliator
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Consultant
Explanation
An arbitrator reviews testimony and evidence presented by the disputed parties at a hearing and resolves the dispute by issuing a decision that may include an award of money. You can think of an arbitrator as a private judge hired by the disputing parties to resolve their dispute.
The area within the union and the employer are willing to concede, when bargaining, is called ____________.
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collective bargaining
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negotiation
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good faith bargaining
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bargaining zone
Explanation
The bargaining zone is the area where each side’s bargaining range overlaps, and is the area in which agreement is possible. Through the bargaining process, negotiators for each side need to determine the other’s party’s likely bargaining range, whether the ranges overlap, and if so, how best to maximize a settlement for their party within the bargaining zone. For example, management’s bargaining range for a wage increase is 1% to 6%. The union’s range is 4% to 10%. So the bargaining zone is between 4% and 6%.
In which of the following bargaining types the parties try to maximize their respective gains, through a Zero-sum game _____________.
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Distributive/conjunctive bargaining
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Cooperative bargaining
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Productivity bargaining
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Composite bargaining
Explanation
Distributive bargaining is a competitive bargaining strategy in which one party gains only if the other party loses something. It is used as a negotiation strategy to distribute fixed resources such as money, resources, assets, etc. between both the parties.
Maria must negotiate with her team on where they will sit in their new building. Some want to be closer to the break room because of the convenient access to the microwave. Others prefer to be where it's quiet.
Maria has some discretion with her budget, and may be able to purchase a microwave and specialty coffee maker for her team's workspace.
This scenario call for a __________________ approach.
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distributive
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integrative
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productivity
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none of these
Explanation
An integrative approach in a negotiation is a collaborative way in which a decision is undertaken where the parties mutually benefit. Is is basically a win-win situation for the parties.
A trusted third party who provides an informal communication link between the negotiation and the opponent is a ______________.
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Mediator
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Arbitrator
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Conciliator
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Consultant
Explanation
Conciliation is an alternative out-of-court dispute resolution instrument.
Like mediation, conciliation is a voluntary, flexible, confidential, and interest based process. The parties seek to reach an amicable dispute settlement with the assistance of the conciliator, who acts as a neutral third party.
Cooperative bargaining is also known as _______________.
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Integrative bargaining
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Intra-organisational bargaining
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Distributive bargaining
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Productivity bargaining
Explanation
Integrative bargaining means a collaborative effort towards a win-win situation where they can find a suitable solution. Cooperative bargaining means the one and the same, since it involves cooperation from others.
Mediators are widely used in ___________________.
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Labour-management negotiation
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Civil court disputes
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Both a and b
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None of these
Explanation
The mediation process is one in which parties negotiate and resolve their conflict using the help of a skilled neutral third party. Mediation can be used for a variety of purposes such as negotiating contracts, organizing a partnership, creating a new business, dismantling an existing business or resolving personnel disputes just to name a few. Mediators are used in labour-management negotiation and civil court disputes as well.
In international, labour, family and community disputes which method of negotiation is extensively used ____________.
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Mediation
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Arbitration
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Conciliation
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Consultant
Explanation
Conciliation is an alternative out-of-court dispute resolution instrument.
Like mediation, conciliation is a voluntary, flexible, confidential, and interest based process. The parties seek to reach an amicable dispute settlement with the assistance of the conciliator, who acts as a neutral third party.
Arbitration may be ___________________.
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voluntary
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compulsory
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both a and b
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none of these
Explanation
Arbitration involves the use of a neutral party to both review and help settle the dispute. The use of arbitration helps keep the matter from going to the courts, and may be either compulsory or voluntary. Compulsory arbitration is arbitration of labour disputes which laws of some communities force the two sides, labour and management
Which among the following negotiators' role is not to settle the issues but to improve the relation so as they can reach the settlement themselves?
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Mediator
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Arbitrator
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Conciliator
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Consultant
Explanation
A consultant is a third-party negotiator who is skilled in conflict management and can add their knowledge and skill to the mix to help the negotiating parties arrive at a conclusion. A consultant will help parties learn to understand and work with each other, so his role is not to settle the issues but to improve the relation so as they can reach the settlement.
An impartial third party skilled in conflict management, who attempts to facilitate creative problem-solving through communication and analysis, is a ________________.
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Mediator
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Arbitrator
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Conciliator
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Consultant
Explanation
A consultant is a skilled and impartial third party who attempts to facilitate problem-solving through communication and analysis. Consultant is most likely to have much knowledge of conflict management.
The consultant’s role is not only to settle the issues but also to improve relations between the conflicting parties so that they can reach a settlement themselves.
Instead of putting forward specific solutions, the consultant tries to encourage the parties to learn, understand and work with each other.
You are negotiating a leasing agreement on some office equipment with Robin, To salesperson for the supplier.
Which of the following could be your Reservation price?
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Accept the deal only if Robin meets or is lower than the highest monthly fee you are willing to pay
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Meet with another office equipment supplier to see what their leasing arrangements cost
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Buy used office equipment instead of leasing new equipment
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None of these
Explanation
The reservation price is the least favourable rate at which one will accept the terms of a negotiated agreement. Hence, the deal can only be accepted if Robin meets or the price is lower than the highest fee I am willing to pay.
Robert would like to assign a long-term, complex project to Curtis, despite knowing that Curtis is trying to cut down his hours at work.
Gabrielle trusts Curtis implicitly and knows that he is very capable of this type of work. This scenario call for a _______________ approach.
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Distributive
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Integrative
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Productivity
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None of these
Explanation
An integrative approach in a negotiation is a collaborative way in which a decision is undertaken where the parties mutually benefit, is basically a win-win situation for the parties.
During that weakens the other side's BATNA will ______________ your relative position.
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improve
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worsen
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either (a) or (b)
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none of these
Explanation
In negotiation, BATNA refers to our “best alternative to a negotiated agreement" Having a good BATNA plays a major role in the negotiation process. It is important to understand your own BATNA and accept the other offer if one feels it is more favourable.
Mona is negotiating with a local car dealer to buy a used car. The sticker on the window shows the final price with a disclaimer that says, "As-is." Mona wants to talk the salesperson into reducing the price.
This scenario call for a _____________ approach.
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Distributive
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Integrative
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Productivity
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None of these
Explanation
A distributive approach, it includes the process of haggling(back and forth exchange of offers). Here, Mona wants to reduce the price, which will involve haggling. As car dealer already fixed its final price for sale, and there is no formal window to negotiate price.
You are negotiating a leasing agreement on some office equipment with Robin, salesperson for the supplier.
Which of the following could be your BATNA?
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Accept the deal only if Robin meets or is lower than the highest monthly fee you willing to pay
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Meet with another office equipment supplier to see what their leasing arrangement cost
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Buy used office equipment instead of leasing new equipment
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None of these
Explanation
In negotiation, BATNA refers to your “best alternative to a negotiated agreement". Out of the given options, the 2nd option is the best alternative as per negotiations standard.
Reservation price is also known as _______________.
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Walk away
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BATNA
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ZOPA
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None of these
Explanation
The reservation price is the least favourable rate at which one will accept a deal having no other alternatives. In layman terms, it is known as the Walkway price.
You've grown as a manager in your many years at Top Co and have asked David, your supervisor, for a promotion that would give you opportunities to acquire and apply the skills. He has suggested that the two of you meet to discuss your request.
What might be your BATNA in this situation?
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Take on stretch assignments with peer managers that would let you develop to skills that interest you
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Find a job with another company that can offer you the professional challenges you're interested in
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Propose a timeline by which you would like to be promoted if David can't offer you the new role immediately
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None of the above
Explanation
In negotiation, BATNA refers to your “best alternative to a negotiated agreement". In this case, it is best for David to take up other assignments since it is the best alternative in this case. Changing the job or having to give up the idea of the promotion aren't the suitable options for him.
The number of subordinates a manager can efficiently and effectively direct is known as __________.
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Unity of Control
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Authority
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Chain of Command
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Span of control
Explanation
Span of control or span of management represents a numerical limit of sub ordinates to be supervised and controlled by a manager. A number of direct, group and cross relationships exist between a manager and his subordinates
The standards may include ____________.
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Certain cost
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Quality
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Innovativeness
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All of these
The extent to which goals have been met is called __________.
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Effectiveness
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Efficiency
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Budgeting
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Ethics
The optimum is the one which is produced __________.
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by the optimum firm
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at the maximum average cost
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at the minimum average cost
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at zero marginal cost
Explanation
The word optimum means the best or the outcome which is most likely to bring success or advantage. In business, it means a product which is produced at the minimum average cost which helps the company to earn the maximum possible profit from the existing resources.
Control is -
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One-step process
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A continuous process
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A part of motivation process
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A good substitute of planning process
Explanation
Control is an important managerial function. It is a continuous process which happens at every level of management. Controlling is followed by other operational functions of management.
____occurs when an employee or former employee commits violence against other employees on organizational grounds.
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Rumours
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Crises of organizational misdeeds
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Confrontation crises
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Workplace violence
Explanation
Workplace violence can an range from threats and verbal abuse to physical assaults and homicide. It is one of the leading causes of job-related deaths. It occurs when an employee or former employee commits violence against other employees on organizational grounds.
Decision on plant layout and location are concerned with ___________.
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system design
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system operations
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system control
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none of the above
Explanation
Decision on plant layout and location are concerned with the control system in management. Plant location or the facilities location problem is an important strategic level decision making for an organisation. One of the key features of a conversion process (manufacturing system) is the efficiency with which the products (services) are transferred to the customers. This fact will include the determination of where to place the plant or facility.
Primary function of accounting is to -
(i) Protecting business property
(ii) Administration of business strategic policies
(iii) Comply with legal requirement
(iv) Solve labour disputes
(v) Record keeping
Select the correct answer from the options given below -
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(ii), (iii) & (iv)
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(i), (iv) & (ii)
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(i) & (iii) only
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(v), (i) & (iii)
Explanation
The primary function of accounting is to protect business property and comply with the legal requirement by keeping a record of all the business transactions. The records help in determining the financial position of the company.
Hence, D is the correct option.
_____________ means Individuals believe that they control what happens to them.
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Locus of control
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Internal locus of control
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External locus of control
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Apprehension
Explanation
Locus of control is the extent of control people have in their lives which effects the outcomes of events in their lives. Internal locus of control means that people think they can control the outcomes of events happening in their lives.
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