Business Quiz on Operation’s Management & Project Management

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Business Quiz

 

Article published in Financial Express dated 01/04/2019

1. ——————-is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the “best in the class”

A) Leveraging B) Benchmarking C) Crafting D) Branding

2. Which of the following is not an operational activity?

A) Production B) Communication C) Storage D) all are activities of operation.

3. A ————- measure is expressed as the ratio of output to inputs used in a production process, i.e. output per unit of input.

A) strategy B) process C) productivity D) all of these

4. Business integration is a strategy which is used to synchronize information technology (IT) to achieve immediate goals and objectives aligning with business culture. Facebook’s acquisition of Instagram in 2012 for about $1 billion is an example of

A) Horizontal integration B) Vertical Integration C) Forward integration D) Backward Integration

5. A six sigma process is a statistical tool in which ——————perfection is achieved.

A) 99.99966% B) 99.99886% C) 99.99999% D) 99.10001%

6. The term Six Sigma got registered because it was written that way when registered as a —————- trademark on December 28, 1993.

A) Kores B) Ford Motors C) Motorola D)Adobe

7. The three generic strategies by Michel Porter are cost leadership, product differentiation and focus (also called nishmanship). When a firm is unable to choose one of the strategies it is said to be  —————-

A) blurred focus on target  B) Stuck in middle C) Distargetted strategy D) Stuck in bottom

8. A time and motion study is a business efficiency technique combining the Time Study work of Frederick Winslow Taylor with the Motion Study work of

A) Henri Fayol B) Frank and Lillian Gilbreth C) Max Weber D) Elton Mayo

9. A proportionate saving in costs gained by an increased level of production is called

A) Unit cost B) Scaling per unit C) Economies of Scale D) Productivity

10. The cost of labour needed to produce one unit of output is called

A) Labour productivity B) Unit labour cost C) Unit cost D) All of these

11. ——————is a philosophy that takes a total system approach to creating efficient operations through the elimination of waste.

A) Mass Customization B) Lean Systems C) Location Analysis D) Reengineering

12. ———–airport made India proud because it created a record; it’s the first airport to run on solar power since August 2015. The airport has photovoltaic (PV) panels laid across 45 acres near the cargo complex.

A) Chennai B) Trivandrum C) Hyderabad D) Cochin

13. —————— is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in project financing and is primarily intended to provide a minimum standard for due diligence and monitoring to support responsible risk decision-making prior to lending for projects.

A) Glass Ceiling Principles B) Storming Principles C) Equator Principles D) Dark Horse Principles

14. In 1980s the ———————-Project, which involved construction of dam on the Narmada River in India, got harshly criticized worldwide for its adverse environmental and social impacts. It was built in order to provide electricity and irrigation water to downstream regions, the construction of this dam resulted in the forced dislocation of more than 200,000 native people.

A) Tehri Dam B) Bhakra Nangal C) Hirakud Dam D) Sardar Sarovar

15. A bottleneck slows down the process of a business operation. Dr. Eliyahu M. Goldratt’s novel ———– is about systems management processes. This book can be used as a case study in operations management, with a focus on the theory of constraints, and how to ease them, and applications of these concepts in real life. The book was released about thirty five years back.

A) The Goal B) The Class C) The Case D) The Hell

16. A ———– Is a scheduling process that describes the set of related deliverables; these are the significant points in time or an event that mark important moments during the project.

A) Milestone B) Baseline C) Work plan D) Activity

17. This famous chart is a bar chart that displays the scheduled information graphically. These are very useful in the planning and scheduling of the projects. It is also helpful in managing the relationship between tasks. Which chart am I talking about?

A) Bar hart B) Gant Chart C) Line Chart D) Pie Chart

18. ——————— Plan refers to the second plan if your plan A doesn’t work.

A) SaaS plan B) Oracle Plan C) Contingency Plan D) Sword plan

19.The processes of redesigning a company’s processes to increase efficiency, improves quality, and reduce costs is called —————

A) Change management B) Reengineering C) Customization D) Finalization step

20.—————-is the largest project of its kind ever undertaken worth $62 billion. The project involves drawing water from southern rivers and supplying it to the dry north. Name the project .

A) The South-to-North Water Diversion Project in China B) the South-to-North Water Diversion Project in Singapore C) the South-to-North Water Diversion Project in London D) the South-to-North Water Diversion Project in California

Answers:

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