✅ Correct Answer: A, B, C and D Only

📘 Explanation:
Henry Mintzberg identified four modes of strategic decision-making that organizations can use to develop their strategies:

1. Entrepreneurial Mode: In this mode, strategic decisions are largely driven by the vision and boldness of a single leader or entrepreneur. It focuses on innovation and risk-taking decisions aimed at growth.

2. Adaptive Mode: This mode reflects a reactive approach where decisions evolve based on changing circumstances. It focuses on incremental changes and adjustments rather than large strategic shifts.

3. Planning Mode: A more formal and structured approach, the planning mode involves a systematic analysis of goals, resources, and strategies through formalized processes, aiming for long-term stability.

4. Logical Incrementalism Mode: This mode is a blend of planning and adaptation, where decisions are made in small steps, allowing for gradual adjustments based on learning and feedback.

These four modes help to understand how different organizations approach the process of formulating and implementing strategies.

✅ Final Answer: A, B, C and D Only

✅ Correct Answer: Friendliness and helpfulness

✅ Explanation: According to the passage, in a company with a culture focused on customer service, the core values such as communication, professionalism, and customer satisfaction shape employee behavior. This results in employees demonstrating behaviors like friendliness and helpfulness when interacting with customers. These behaviors are aligned with the company’s mission statement of providing high-quality customer service.

❌ Why the other options are incorrect:

• Competitiveness and aggression: These behaviors are more likely in a company culture focused on competition and achieving success at any cost, not in a customer service-focused culture.

• Independence and autonomy: While these traits may be important in some cultures, they are not specifically mentioned in the context of customer service in the passage.

• Innovation and creativity: These behaviors could be part of other organizational cultures, especially those focused on innovation, but the passage specifically emphasizes friendliness and helpfulness in a customer service-focused culture.

✅ Final Answer: Friendliness and helpfulness

✅ Correct Answer: Greenfield Investment

📘 Explanation:

Greenfield Investment is a type of Foreign Direct Investment (FDI) where a parent company builds its operations in a foreign country from the ground up. This includes constructing new production facilities, offices, or other infrastructure, and it often involves hiring local employees and actively managing the business.

FDI, particularly Greenfield Investment, indicates a long-term interest and significant control over the foreign enterprise, distinguishing it from other forms of international capital flow.

❌ Why the other options are incorrect:

• Foreign Portfolio Investment: This involves purchasing financial assets like stocks and bonds in a foreign country and does not give the investor control over business operations. It is a short-term investment and not a type of FDI.

• Qualified Foreign Investment: This refers to regulated investments by foreigners in certain markets (like India’s Qualified Foreign Investors scheme) and generally applies to portfolio investments, not FDI.

• Commercial Loans: These are debt-based financial instruments and do not involve ownership or control over foreign business operations. They are not classified as FDI.

✅ Final Answer: Greenfield Investment

✅ Correct Answer: Self Employed Women’s Association (SEWA)

✅ Explanation:

Ela Bhatt is the founder of the Self Employed Women’s Association (SEWA), a trade union established in 1972 in Ahmedabad, India.

SEWA advocates for the rights of low-income, self-employed women workers, aiming to secure full employment, which encompasses work security, income security, food security, and social security like health care, child care, insurance, pension, and shelter.

Under her leadership, SEWA grew rapidly, with nearly 2 million members across India by 2023.

The organization operates on Gandhian principles of truth, non-violence, and integration of all people.

❌ Why the other options are incorrect:

• Mukta Services: There is no widely recognized association or organization by this name linked to Ela Bhatt.

• Lijjat Papad: This is a cooperative of women in India, known for producing papad. While similar in empowering women, it is not associated with Ela Bhatt.

• Avya Global Connect: This organization does not have any known association with Ela Bhatt.

✅ Final Answer: Self Employed Women’s Association (SEWA)

✅ Correct Answer: D. Median, and E. Percentiles

📘 Explanation:

Positional Averages are measures of central tendency that depend on the position of values in an ordered dataset. These include:

• Median (D) → The middle value when data is arranged in order.

• Percentiles (E) → Values that divide data into 100 equal parts, based on position.

Why Not A, B, and C?

• Geometric Mean (A) → A mathematical average, calculated using multiplication and roots.

• Harmonic Mean (B) → Another mathematical average, based on reciprocals.

• Mode (C) → A frequency-based measure, not based on position in an ordered dataset.

✅ Final Answer: D. Median, and E. Percentiles

✅ Correct Answer: Aggressiveness and Competitiveness

✅ Explanation: The passage explains that in a company where the culture revolves around competition, employees are likely to display behaviors such as aggressiveness and competitiveness in order to achieve the highest results. This type of behavior aligns with a competitive environment where employees strive to outperform each other.

❌ Why the other options are incorrect:

• Cooperation and teamwork: These behaviors are more likely to be seen in a company culture focused on collaboration, not in a competitive environment.

• Friendliness and helpfulness: These behaviors are mentioned in the context of a customer service-oriented culture, not a competitive culture.

• Indifference and passiveness: These behaviors would be less likely in a competitive culture, as the environment is expected to encourage proactive actions and high performance.

✅ Final Answer: Aggressiveness and Competitiveness

✅ Correct Answer: Income elasticity of demand

📘 Explanation:

• Income Elasticity of Demand is classified as one of the 4 types of elasticity.
• Elasticity is always measured as % Change in Quantity / % Change in one factor (considering effects of other variables are constant.)
• The 4 types of elasticity are classified as
  1. Price Elasticity,
  2. Income Elasticity,
  3. Cross Elasticity and
  4. Advertising Elasticity.

Why the other options are incorrect: ❌

❌ Revenue and price elasticity of demand: Not defined as a standard elasticity type.

❌ Gross elasticity of demand: Not defined as a standard elasticity type.

❌ Promotional elasticity of demand: Not defined as a standard elasticity type.

✅ Final Answer: Income elasticity of demand

✅ Correct Answer: A-II, B-I, C-IV, D-III

✅ Explanation:

• A. Rotating work shifts (II. Administrative policies and strategies): The scheduling of rotating shifts is typically an administrative decision and a strategy implemented within an organization. Such schedules may impact employee health and well-being.

• B. Line-staff conflicts (I. Organisational structure and design): Conflicts between line and staff can often arise due to poor organizational design or unclear lines of authority, resulting in miscommunication and disagreements between different organizational groups.

• C. Appraisal system (IV. Organisational process): The performance appraisal system is an organizational process that involves evaluating employee performance. If poorly designed or biased, this can create stress, dissatisfaction, and feelings of inequity.

• D. Polluted air (III. Working conditions): Polluted air is a direct result of working conditions in the physical environment. Inadequate ventilation or poor air quality in the workplace can lead to health-related stress for employees.

✅ Final Answer: A-II, B-I, C-IV, D-III.

✅ Correct Answer: A, B and E only

📘 Explanation:

Properties of Regression Coefficients:

✅ (A) r = (byx ​× bxy) ^ 0.5​​ (Correct)

• This is a correct mathematical relationship between the correlation coefficient r and the regression coefficients byx​ and bxy​.
• This property states that correlation (r) is the square root of the product of regression coefficients.

✅ (B) “Change in origin is not affected” (Correct)

• Regression coefficients are NOT affected by a change in origin (adding or subtracting a constant to X or Y).
• If we shift both x and y by adding/subtracting a constant (e.g., shifting data by a mean value), the regression coefficient remains unchanged.
• Thus, this statement is correct.

❌ (C) “Change in scale is not affected” (Incorrect)

• Regression coefficients ARE affected by a change in scale (multiplying or dividing all values by a constant).
• If we multiply or divide x or y by a constant, the regression coefficients change.
• Thus, this statement is incorrect.

❌ (D) “If both regression coefficients have a negative sign, the correlation coefficient will also be negative” (Incorrect)

• This statement seems correct at first, but let’s analyze it carefully:
  • The correlation coefficient r depends on the square root of the product of regression coefficients: r=(byx×bxy)^0.5​​
  • The product of two negative numbers is positive.

✅ (E) “If one regression coefficient is greater than one, the other must be less than one” (Correct)

• There is a key mathematical property:  byx × bxy ≤ 1
  • This means that if one regression coefficient is greater than 1, the other must be less than 1 to satisfy this inequality.
  • Thus, this statement is correct.

✅ Final Answer: A, B and E only

✅ Correct Answer: A-IV, B-II, C-I, D-III

✅ Explanation:

To match the types of variances in Material Cost Variance with their respective formulas, we need to understand each variance type and the related formula:

1. Material Cost Variance (A)

Formula: IV (Standard Price × Standard Quantity) – (Actual Price × Actual Quantity)
Explanation: The Material Cost Variance represents the difference between the expected (standard) cost of materials and the actual cost of materials used in production. This is calculated as:

$$\text{Material Cost Variance}=(\text{Standard Price }\times \text{Standard Quantity})-(\text{Actual Price }\times \text{Actual Quantity})$$

This formula compares the total expected cost of materials versus the actual cost incurred.

2. Material Price Variance (B)

Formula: II (Standard Price – Actual Price) × Actual Quantity
Explanation: The Material Price Variance measures the difference between the expected price of material and the actual price paid for the material, based on the quantity actually purchased. It is calculated as:

$$\text{Material Price Variance}=(\text{Standard Price }-\text{Actual Price})\times \text{Actual Quantity}$$

This variance shows if the company paid more or less than expected for the materials.

3. Material Usage Variance (C)

Formula: I (Standard Quantity – Actual Quantity) × Standard Price
Explanation: The Material Usage Variance represents the difference between the actual quantity of material used in production and the standard quantity expected to be used, valued at the standard price. It is calculated as:

$$\text{Material Usage Variance}=(\text{Standard Quantity }-\text{Actual Quantity})\times \text{Standard Price}$$

This variance shows whether materials were used more efficiently or inefficiently.

4. Material Mix Variance (D)

Formula: III Standard cost of actual quantity of actual mixture – Standard cost of actual quantity of standard mixture
Explanation: The Material Mix Variance calculates the effect of using a different mix of materials than the standard mix, while keeping the total quantity constant. It is calculated as:

$$\text{Material Mix Variance}=\text{Standard Cost of Actual Quantity of Actual Mixture }-\text{Standard Cost of Actual Quantity of Standard Mixture}$$

This variance helps understand the impact of using a different combination of materials.

✅Final Answer: A-IV, B-II, C-I, D-III

✅ Correct Answer: G. Myrdal and P. Streeten

✅ Explanation:
The Structuralist Theory of Inflation was developed primarily by economists like Gunnar Myrdal and Paul Streeten, who argued that inflation in developing countries stems from structural rigidities—such as supply bottlenecks, sectoral imbalances, and institutional constraints. This theory emphasizes that inflation is not merely a result of excess money supply, but rather the outcome of deeper economic and social issues that restrict supply responsiveness and limit policy flexibility.

❌ Why the other options are incorrect:

• V.N. Pandit: An Indian economist known for his work on macroeconomic policy, but not associated with the formulation of structuralist inflation theory.

• Milton Friedman: A leading proponent of the monetarist theory of inflation, which attributes inflation primarily to excessive growth in the money supply.

• Fritz Machlup: Known for contributions to knowledge economics and international trade, not for structuralist inflation theory.

• Keynes: Developed Keynesian economics, which emphasizes demand-side factors and underemployment equilibrium but did not focus on structural causes of inflation in developing economies.

✅ Final Answer: G. Myrdal and P. Streeten.

✅ Correct Answer: Creative thinking and problem-solving

🧾 Explanation:

The passage explains that AI automates repetitive and routine tasks, freeing employees to focus on more complex and creative work. This indicates that skills like creative thinking and problem-solving will become increasingly important as AI takes over simpler, routine jobs.

❌ Why the other options are incorrect:

• Manual Labour:
  The passage does not emphasize manual labor and suggests automation is reducing routine work.

• Routine administrative task:
  These tasks are specifically mentioned as being automated by AI, so their importance will likely decrease.

• Following predefined procedures:
  Similar to routine tasks, predefined procedures are likely to be automated, reducing the need for human involvement in such work.

✅ Final Answer: Creative thinking and problem-solving

✅ Correct Answer: A, B, C and D Only

✅ Explanation:
The operational methodology of a Self Help Group (SHG) involves several structured steps designed to empower members, build financial discipline, and foster sustainable livelihoods. These typically include:

• A. Village meeting of women in villages by MFI (Microfinance Institution): This is often the initial step where awareness is created and women are mobilized to form groups.

• B. Group formation: Core to SHG methodology, members are typically homogeneous and voluntarily come together to form a group.

• C. Group Training for 5-7 days on procedures and business development skills: This ensures that members understand how the SHG functions, including savings, lending, bookkeeping, and income-generating activities.

• D. Group meeting once in a week for mobilizing saving, disbursing and repaying loans: Regular meetings are essential for maintaining financial discipline and group cohesion.

❌ Why the other option is incorrect:

• E. Lending money for long term loans: SHGs primarily focus on short-term and small-ticket loans aimed at meeting immediate consumption or working capital needs. Long-term lending is generally not part of their standard operational methodology, especially in early stages.

✅ Final Answer: A, B, C and D Only

✅ Correct Answer: A – IV, B – III, C – I, D – II

📘 Explanation:

• A – IV (Stratified random sampling): When the size of all strata is equal, stratified random sampling is used to ensure each subgroup is adequately represented.
• B – III (Judgement sampling): When information can be provided by a few knowledgeable respondents, judgement sampling is used, where the researcher selects respondents based on their expertise or knowledge.
• C – I (Quota sampling): If information is required from a particular stratum of the population, quota sampling is used to ensure representation from that specific group.
• D – II (Convenience sampling): When quick information is needed, convenience sampling is preferred as it involves selecting respondents who are readily available.

Final Answer: A – IV, B – III, C – I, D – II

✅ Correct Answer: E, D, C, B, A

📘 Explanation:

The World Trade Organization (WTO) has held a series of ministerial conferences and trade negotiation rounds. The correct chronological order among the given options is:

• E. Doha Conference (2001): Marked the launch of the Doha Development Agenda, focusing on trade and development.

• D. Cancun Conference (2003): A continuation of the Doha Round but failed due to disagreements between developed and developing nations.

• C. Hong Kong Conference (2005): Some progress was made, particularly in phasing out agricultural export subsidies.

• B. Geneva Conference (2009): Continued negotiations but with little substantive progress.

• A. Bali Conference (2013): Notable for the successful conclusion of the Trade Facilitation Agreement.

✅ Final Answer: E, D, C, B, A

✅ Correct Answer: Decision Support System (DSS)

📘 Explanation:

A Decision Support System (DSS) is designed to help managers make decisions in ill-structured or semi-structured situations, where problems are complex and not routine. DSS often uses tools like complex spreadsheets and “what-if” models to simulate different scenarios and analyze potential outcomes, supporting better decision-making.

❌ Why the other options are incorrect:

• Management Information System (MIS): Primarily focuses on providing routine, structured information and reports to manage operations efficiently but does not handle complex or unstructured decision scenarios.

• Knowledge Work System (KWS): Supports knowledge workers in creating and integrating new knowledge but is not primarily focused on decision-making with what-if analysis.

• Executive Support System (ESS): Provides senior executives with summarized information and easy access to external and internal data, usually for strategic decisions, but less focused on interactive “what-if” modeling.

✅ Final Answer: Decision Support System (DSS)

✅ Correct Answer: Deficit Account

📘 Explanation:

The Balance of Payments (BOP) is a systematic record of all economic transactions between residents of a country and the rest of the world. It consists mainly of:

• Current Account: Records trade in goods and services, income, and current transfers.

• Capital Account: Records capital transfers and acquisition/disposal of non-produced, non-financial assets.

• Financial Account: Tracks investment flows (not listed here but part of BOP).

• Official Reserves Account: Shows changes in a country’s reserves of foreign currency and gold held by the central bank.

There is no specific “Deficit Account” in the Balance of Payments. The term “deficit” refers to when the BOP or one of its components is negative, but it is not an account itself.

✅ Final Answer: Deficit Account

✅ Correct Answer: C, D and E Only

🧾 Explanation:

The International Monetary Fund (IMF) was established in 1944 at the Bretton Woods Conference with the primary aim of ensuring the stability of the international monetary system. Its key objectives include:

• C. To regulate the exchange rates and enforce the rules:
  The IMF oversees the international monetary system and monitors the economic and financial policies of its member countries to ensure exchange rate stability.

• D. To promote exchange stability, maintaining orderly exchange arrangements and avoiding competitive exchange devaluation:
  A core mission of the IMF is to support stable exchange rates and discourage practices that could lead to instability in international trade.

• E. To assist in establishment of a multilateral system of payments in respect of current transaction between members:
  The IMF promotes the elimination of foreign exchange restrictions and helps establish a system where current transactions between countries can proceed freely and predictably.

❌ Why the other options are incorrect:

• A. To provide long-term funds at concession rates to the poorest member countries:
  This is primarily the role of the World Bank and its affiliates like the International Development Association (IDA), not the IMF.

• B. To promote the development of Private enterprises in member countries:
  This is mainly the function of the International Finance Corporation (IFC), part of the World Bank Group, not the IMF.

✅ Final Answer: C, D and E Only

✅ Correct Answer: It represents resultant employee actions

✅ Explanation: Organizational behavior refers to the actions and behaviors exhibited by employees within the organization, which are shaped by the company’s culture. It is the outcome or result of the organizational culture that influences employee actions. For instance, if a company’s culture promotes customer service, the behavior of employees will likely include friendliness and helpfulness when interacting with customers.

❌ Why the other options are incorrect:

• It defines organizational goals: Organizational behavior does not define goals. It is the result of how employees act based on the organizational culture. Organizational goals are typically set by management or leadership.

• It determines managerial decisions: While organizational behavior may influence managerial decisions, it does not directly determine them. Managerial decisions are based on various factors, including strategies, goals, and performance.

• It outlines employee training programs: Employee training programs are designed to improve or modify organizational behavior, but organizational behavior itself is not directly responsible for outlining training programs.

✅ Final Answer: It represents resultant employee actions.

✅ Correct Answer: Groupthink

✅ Explanation: Groupthink is a psychological phenomenon that occurs in group decision-making, where the desire for consensus and harmony within the group overrides the realistic evaluation of alternative courses of action. In this situation, members may suppress dissenting opinions, fail to critically analyze options, and make poor decisions because they are overly focused on maintaining unanimity and avoiding conflict.

❌ Why the other options are incorrect:

• Groupshift: This refers to a change in the group’s decision-making tendencies, where members may make more extreme decisions than they would individually, often as a result of group dynamics. It is not about suppressing critical thinking for consensus, but rather about shifting the group’s risk-taking behavior.

• Brainstorming: This is a creative problem-solving technique where ideas are generated in an open and non-judgmental environment. It encourages the free flow of ideas and does not prioritize consensus over realistic evaluation.

• Nominal Group Technique: This is a structured group decision-making method that encourages equal participation and prioritizes idea generation and ranking, which helps avoid groupthink.

✅ Final Answer: Groupthink.

✅ Correct Answer: Bias and Discrimination

🧾 Explanation:

The passage specifically mentions that one concern with AI in the workforce is the potential for bias and discrimination in algorithms, which can negatively affect marginalized individuals and communities. This issue arises from how algorithmic decision-making can inadvertently perpetuate existing prejudices or inequalities.

❌ Why the other options are incorrect:

• Reduces efficiency:
  The passage states AI can enhance efficiency and productivity, not reduce it.

• Increased job satisfaction:
  This is not mentioned as a drawback; rather, job displacement and reskilling are concerns.

• Enhanced security measures:
  Security is a concern, but enhanced security measures are a positive response, not a drawback.

✅ Final Answer: Bias and Discrimination

✅ Correct Answer: Automation of repetitive tasks

🧾 Explanation:

The passage states that AI automates repetitive and routine tasks, which is a key benefit as it frees employees to focus on more complex and creative work.

❌ Why the other options are incorrect:

• Increased job displacement:
  This is mentioned as a concern or drawback, not a benefit.

• Reduced need for creativity:
  The passage suggests the opposite — AI allows workers to focus more on creative tasks.

• Decreased demand for data analysis:
  The passage highlights that AI creates new job opportunities, especially in data analytics, implying increased demand.

✅ Final Answer: Automation of repetitive tasks

✅ Correct Answer: A-IV, B-III, C-II, D-I

📘 Explanation:

These terms refer to the EPRG Framework developed by Howard V. Perlmutter, describing different orientations a company can adopt in international marketing:

🧩 Matching List I with List II:

• A. Ethnocentric Orientation → IV.
  Explanation: The company applies the domestic marketing strategy to foreign markets, assuming what works at home will work abroad.

• B. Polycentric Orientation → III.
  Explanation: The company adapts marketing strategies to meet the needs of each local market, acknowledging cultural and consumer differences.

• C. Regiocentric Orientation → II.
  Explanation: A regional approach is used, applying a common strategy to a group of similar foreign markets, such as regions with shared traits.

• D. Geocentric Orientation → I.
  Explanation: The company adopts a global marketing strategy, viewing the world as a single market and seeking to standardize marketing efforts as much as possible.

✅ Final Answer: A-IV, B-III, C-II, D-I

✅ Correct Answer: Creator Intrapreneur

✅ Explanation:
Creator Intrapreneurs are known for their ability to generate innovative ideas and proactively seek ways to improve processes, products, or services within an organization. They are the visionaries who thrive on creativity and original thinking, often identifying opportunities for innovation that others may overlook.

❌ Why the other options are incorrect:

• Employee Intrapreneur: This is a general term that refers to any employee exhibiting entrepreneurial behavior within an organization. It’s not a specific type.

• Doers Intrapreneur: These are action-oriented individuals who execute ideas effectively but may not necessarily be the originators of those ideas.

• Implementers Intrapreneur: Focused on putting plans into action; they excel at operationalizing strategies rather than originating them.

✅ Final Answer: Creator Intrapreneur

✅ Correct Answer: B, A, D, C, E

✅ Explanation: Luthans’ Organizational Behavior Modification (O.B. Mod) approach focuses on managing and improving employee behavior to enhance performance. The steps are arranged in the following order:

• B. Identify: First, you identify the behavior that needs to be changed or reinforced.

• A. Measure: Then, you measure the current level of the identified behavior.

• D. Analyze: After measuring, you analyze the factors contributing to the behavior.

• C. Intervene: Next, you intervene by applying reinforcement strategies to influence the behavior.

• E. Evaluate: Finally, you evaluate the results to determine whether the desired change has been achieved.

✅ Final Answer: B, A, D, C, E

✅ Correct answer: C → B → E → D → A.

✅ Explanation:
The correct chronological order of historical events in Operations Management is:

• C. Industrial Revolution (Late 18th century): Marked the shift from hand production methods to machines, leading to the birth of factories.

• B. Scientific Management (Early 20th century): Introduced by Frederick W. Taylor, focusing on improving labor productivity through scientific methods.

• E. Human Relations (1930s): Came after studies like the Hawthorne Experiments by Elton Mayo, emphasizing the importance of human factors in productivity.

• D. Operations Research (World War II, 1940s): Emerged to solve complex military operations problems using mathematical and analytical methods.

• A. Quality Revolution (1970s–1980s): Emphasized total quality management (TQM), continuous improvement, and customer satisfaction, particularly influenced by Japanese manufacturing practices.

✅ Final Answer: C → B → E → D → A.

✅ Correct Answer: Reporting unethical practices by their employer to outsiders

✅ Explanation: Whistleblowing refers to the act of reporting unethical or illegal practices by an organization or its employees to external authorities, often to protect the public interest or uphold ethical standards. It is typically done by an insider who discloses information about wrongdoing that may harm the organization, its employees, or society at large.

❌ Why the other options are incorrect:

• The choices made from among two or more alternatives: This describes decision-making, not whistleblowing.

• A discrepancy between some current state of affairs and some desired state: This describes a gap or difference, often related to problem-solving, but not specifically whistleblowing.

• Refers to choices that are consistent and value-maximizing: This refers to rational decision-making or ethical decision-making, not whistleblowing.

✅ Final Answer: Reporting unethical practices by their employer to outsiders

✅ Correct Answer: χ2-test

📘 Explanation:

Parametric Tests (Assume Normal Distribution)

1. Z-Test – Compares means for large samples (n ≥ 30).
2. T-Test – Compares means for small samples (n<30):
   • Independent T-test – Two unrelated groups.
   • Paired T-test – Same group before/after.
3. F-Test – Compares variances of two groups.
4. ANOVA (Analysis of Variance) – Compares means of three or more groups.
5. Pearson Correlation – Measures linear relationship between two variables.
6. Linear Regression – Predicts dependent variable using independent variable(s).

✅ Final Answer: χ2-test

✅ Correct Answer: Conflict is necessary but it can be managed and resolved

✅ Explanation:
Pluralists believe that conflict is a natural and inevitable part of any organization, as individuals and groups with different interests and values interact. However, they also argue that while conflict is inevitable, it is not inherently harmful and can be managed constructively. The focus of pluralism is on finding ways to manage and resolve conflict through negotiation, communication, and compromise, rather than avoiding or suppressing it.

❌ Why the other options are incorrect:

• Conflict is unnecessary and should be avoided at all cost: This view aligns more with unitarism, which sees conflict as undesirable and something to be avoided through harmony and unity.

• Conflict is necessary and should be ignored: This is an inaccurate view, as pluralists do not advocate for ignoring conflict; they recognize it but seek ways to manage it.

• Conflict should be eliminated through strict rules: This approach is more aligned with authoritarian or unitarist views, which seek to eliminate conflict by enforcing strict rules and controls. Pluralists, however, do not aim to eliminate conflict but rather manage and resolve it effectively.

✅ Final Answer: Conflict is necessary but it can be managed and resolved

✅ Correct Answer: 16%

✅ Explanation:
The P/V Ratio (Profit/Volume Ratio) measures how much contribution is earned per rupee of sales. When given profit figures and sales figures for two periods, the P/V ratio can be calculated using the formula:

P/V Ratio = ( Change in Profit / Change in Sales ) × 100

Here:

• Change in Profit = ₹7,00,000 − ₹3,00,000 = ₹4,00,000

• Change in Sales = ₹57,00,000 − ₹32,00,000 = ₹25,00,000

P/V Ratio = ( ₹4,00,000 / ₹25,00,000 ) × 100 = 16%

✅ Final Answer: 16%

✅ Correct Answer: To uncover strength and weakness of a business idea

✅ Explanation:
The primary objective of a feasibility study is to analyze the strengths and weaknesses of a proposed business idea or project to determine whether it is viable and worth pursuing. This includes evaluating aspects such as:

• Market feasibility (demand, competition)

• Technical feasibility (resources, capabilities)

• Financial feasibility (costs, returns, funding)

• Legal and regulatory feasibility

• Operational feasibility

This thorough assessment helps in making informed decisions before committing significant time and resources.

❌ Why the other options are incorrect:

• To persuade investors to fund a project: This may be a secondary outcome, but the feasibility study is meant for internal decision-making, not sales or promotion.

• To assess the historical background of a business: This is part of a business analysis, not the primary focus of a feasibility study.

• To outline the technical development process: That is a part of a technical plan or project plan, not the main goal of a feasibility study.

✅ Final Answer: To uncover strength and weakness of a business idea

✅ Correct Answer: Perception that efforts and purposes are not valued by others

✅ Explanation:
According to Everett Hagen’s Theory of Entrepreneurship, withdrawal of status respect is a key psychological factor that can trigger entrepreneurial behavior. This withdrawal occurs when an individual or group perceives that their efforts, goals, or values are not appreciated or respected by the larger society. This leads to frustration and a motivation to change their situation through innovation or entrepreneurship.

Hagen believed that such a status frustration creates a drive in individuals to achieve success independently—often through entrepreneurial ventures—as a way to regain lost respect and improve their social status.

❌ Why the other options are incorrect:

• Increased recognition from the group: This would reinforce status respect, not lead to its withdrawal.

• Perception that efforts and purposes are highly valued: This affirms status, so it would not create entrepreneurial tension.

• Belief in the stability of status symbols: This suggests comfort and satisfaction with existing status, not a trigger for change.

✅ Final Answer: Perception that efforts and purposes are not valued by others

✅ Correct Answer: A, B, C and D Only

📘 Explanation:
The VRIO framework is a tool used for analyzing an organization’s internal resources and capabilities to determine if they can lead to a sustained competitive advantage. VRIO stands for:

1. Valuable (A): A resource is valuable if it helps the company exploit opportunities or neutralize threats in the market. It can create value by improving efficiency or effectiveness.

2. Rare (B): A resource is rare if it is not widely possessed by competitors. If many firms have access to a particular resource, it loses its competitive value.

3. Costly to Imitate (C): This refers to the difficulty or expense involved for competitors to replicate or imitate a resource. If a resource is costly to imitate, it can provide a sustained competitive advantage.

4. Organized for Usage (D): Even if a resource is valuable, rare, and costly to imitate, it is only useful if the company is organized to fully utilize it. This involves having the appropriate structure, processes, and systems in place to leverage the resource.

The term Innovative (E) is not part of the VRIO framework. While innovation can be valuable and contribute to competitive advantage, it’s not one of the core components of the VRIO framework.

]✅ Final Answer: A, B, C and D Only

✅ Correct Answer: AI advancement may create new job opportunities

🧾 Explanation:

The passage highlights that while AI automates routine tasks and may cause job displacement, it also creates new job opportunities, particularly in areas like data analytics, machine learning, and AI development. It acknowledges both the benefits and challenges but emphasizes that with the right skills, workers can find new roles emerging from AI advancements.

❌ Why the other options are incorrect:

• AI will eliminate all job roles that require creativity:
  The passage states the opposite—AI frees workers to focus on more complex and creative work rather than eliminating it.

• AI will benefit workers in specialised technical field:
  While true, this option is narrower and less comprehensive than the selected answer, which encompasses the overall potential for new job creation.

• AI will lead to a decrease in overall workforce productivity:
  The passage mentions that AI can enhance efficiency and productivity, making this option incorrect.

✅ Final Answer: AI advancement may create new job opportunities

✅ Correct Answer: C, A, E, B, D

📘 Explanation:

Here’s the correct chronological sequence of the major developments in the international monetary system:

1. C. Specie Commodity Standard (Pre-19th century):
   The earliest form, where money was backed by a physical commodity such as gold or silver, often in coin form.

2. A. Gold Standard (19th century – early 20th century):
   Countries fixed their currencies to a specific amount of gold. It was formalized in the 1870s and collapsed in the 1930s during the Great Depression.

3. E. Fixed Parity System (Bretton Woods System, post-WWII – 1971):
   Currencies were pegged to the US dollar, which was convertible to gold. This created fixed exchange rates.

4. B. Smithsonian Arrangement (1971):
   An attempt to preserve fixed exchange rates after the collapse of the Bretton Woods system. It was a temporary measure and soon failed.

5. D. Floating Rate Regime (Post-1973 – Present):
   After the failure of fixed exchange systems, countries allowed their currencies to float freely in the market, determined by supply and demand.

✅ Final Answer: C, A, E, B, D

✅ Correct Answer: A-II, B-I, C-IV, D-III

✅ Explanation:
The correct matching of theories and their propounders is as follows:

• A – Theory of Opportunities and Innovation: Propounded by Peter F. Drucker (II). Drucker is widely recognized for his contributions to management and entrepreneurship, emphasizing the importance of identifying opportunities and innovation in the business world.

• B – Theory of Profit: Propounded by Frank H. Knight (I). Knight is famous for his work on profit, particularly in the context of uncertainty and risk, and his distinction between risk and uncertainty in economic theory.

• C – Theory of Entrepreneurial Supply: Propounded by Thomas Cochran (IV). Cochran contributed to the theory of entrepreneurial supply, examining how entrepreneurs come into play in various economic environments.

• D – Psychoanalytic Theory: Propounded by Sigmund Freud (III). Freud developed psychoanalysis, focusing on the unconscious mind, and the psychological forces that influence human behavior.

✅ Final Answer: A-II, B-I, C-IV, D-III.

✅ Correct Answer: McKinsey

📘 Explanation:
The 7-S Framework for organizational change was developed by McKinsey & Company, a global management consulting firm. It was introduced by consultants Robert Waterman, Tom Peters, and Julian Phillips in the early 1980s. The framework identifies seven internal elements of an organization that must be aligned for it to be successful.

1. Strategy – The plan or direction the organization is taking to achieve its goals.

2. Structure – The way the organization is arranged, including reporting lines and hierarchical setup.

3. Systems – The processes and procedures that support the organization’s operations.

4. Shared Values – The core beliefs and culture that guide the behavior and decisions of the organization.

5. Skills – The capabilities and competencies of the employees.

6. Style – The leadership approach and how leaders interact with their teams.

7. Staff – The human resources or people who make up the organization.

This framework helps organizations to analyze and understand how these elements interrelate and how changes in one area might affect others, making it a powerful tool for managing organizational change.

❌ Why the other options are incorrect:

• Peter Drucker: While Peter Drucker made significant contributions to management theory, he did not create the 7-S Framework.

• Dale Yoder: Known for his work in human resource management, Yoder did not develop the 7-S Framework.

• Mintzberg: Henry Mintzberg is well-known for his work on organizational structures and strategy, but he did not propose the 7-S Framework.

✅ Final Answer: McKinsey

✅ Correct Answer: Protection of personal data and cybersecurity

🧾 Explanation:

The passage highlights that as AI advances, it is important to ensure that personal data is protected and that AI systems are secure against cyberattacks. Privacy and security are major concerns regarding AI’s impact on the workforce.

❌ Why the other options are incorrect:

• Improved job security for all workers:
  The passage mentions job displacement and the need for reskilling, indicating job security is not guaranteed.

• Increased bias in decision making:
  Bias is a concern, but the goal is to avoid or reduce bias, not increase it.

• Decreased efficiency in operations:
  The passage states AI can enhance efficiency and productivity, not decrease it.

✅ Final Answer: Protection of personal data and cybersecurity

✅ Correct Answer: ₹ 6,060

📘 Explanation:

Step 1: Compute Row and Column Penalties

• The penalty is calculated by subtracting the smallest cost from the second-smallest cost in each row and column.

Row Penalties

Column Penalties

• The highest penalty is 12 (column W2), so we allocate first in W2.

Step 2: Allocate to the Lowest-Cost Cell in the Highest Penalty Column (W2)

• The lowest cost in W2 is 8 (F2, W2).
• Allocate the minimum of supply (160) and demand (130) → 130 units allocated to (F2, W2).

| F2 → W2 = 130 units | | Supply left in F2 = 160 – 130 = 30 | | Demand left in W2 = 130 – 130 = 0 → Column W2 is fulfilled |

Step 3: Recalculate Penalties (Ignoring W2)

• The highest penalty is 10 (Row F3), so we allocate first in F3.

Step 4: Allocate to the Lowest-Cost Cell in F3

• The lowest cost in F3 is 16 (F3, W3).
• Allocate the minimum of supply (100) and demand (150) → 100 units allocated to (F3, W3).

| F3 → W3 = 100 units | | Supply left in F3 = 100 – 100 = 0 → Row F3 is fulfilled | | Demand left in W3 = 150 – 100 = 50 |

Step 5: Recalculate Penalties (Ignoring F3 and W2)

• The highest penalty is 6 (W3 column), so we allocate to the lowest-cost cell in W3.

Step 6: Allocate to the Lowest-Cost Cell in W3

• The lowest cost in W3 is 12 (F1, W3).
• Allocate the minimum of supply (200) and demand (50) → 50 units allocated to (F1, W3).

| F1 → W3 = 50 units | | Supply left in F1 = 200 – 50 = 150 | | Demand left in W3 = 50 – 50 = 0 → Column W3 is fulfilled |

Step 7: Allocate to the Remaining Cells

• Remaining supply:
  • F1 = 150
  • F2 = 30
• Remaining demand:
  • W1 = 180

Since only W1 remains:

• Allocate 30 units to (F2, W1) → (F2 is fulfilled)
• Allocate 150 units to (F1, W1) → (F1 is fulfilled)

Final Allocation Table

Step 8: Calculate Total Cost

$$\text{Total Cost}=(150\times 16)+(50\times 12)+(30\times 14)+(130\times 8)+(100\times 16)$$
= 2400 + 600 + 420 + 1040 + 1600
=6060

📝 Note:

• Initial feasible solution using VAM = 6060 units cost
• This is not necessarily optimal; we must use MODI method or Stepping Stone method to check for optimality.

✅ Final Answer: ₹ 6,060

✅ Correct Answer: A-I, B-II, C-III, D-IV

📘 Explanation:

• The VRIO Framework was developed by J.B. Barney to analyze resources for sustained competitive advantage.

• Value Chain Analysis was introduced by M.E. Porter to examine internal activities that create value.

• The Product Market Matrix is associated with H.I. Ansoff, focusing on growth strategies via products and markets.

• PEST Analysis, which examines Political, Economic, Social, and Technological factors, was developed by Johnson and Scholes as part of strategic management tools.

✅ Final Answer: A-I, B-II, C-III, D-IV

✅ Correct Answer: A. Potential opposition or incompatibility → C. Cognition and personalization → B. Intentions → E. Behavior → D. Outcomes

✅ Explanation: The Five Stages of the Conflict Process outline how conflict develops and unfolds in interpersonal or organizational settings. The correct sequence is:

1. Potential opposition or incompatibility – The source of conflict begins with the presence of conditions that create opportunities for conflict to arise (e.g., communication issues, structural factors, or personal variables).

2. Cognition and personalization – The conflict is perceived and felt. People become aware of the conflict and may experience emotional involvement.

3. Intentions – This stage involves decisions on how to handle the conflict (e.g., competing, collaborating, avoiding).

4. Behaviour – The conflict becomes visible through statements, actions, or reactions.

5. Outcomes – The result of the conflict interaction, which can be constructive (improving performance or relationships) or destructive (causing dysfunction or dissatisfaction).

✅ Final Answer: A → C → B → E → D.

✅ Correct Answer: A-II, B-I, C-IV, D-III

✅ Explanation:

Matching the correct views of conflict:

• A. The Traditional View – II
  → This view considers all conflict as harmful and something that must be avoided. It was the dominant perspective until the mid-20th century.

• B. The Human Relations View – I
  → This view sees conflict as a natural and inevitable part of group dynamics, neither inherently good nor bad. It emerged around the 1940s–1970s.

• C. The Interactionist View – IV
  → According to this view, conflict is not just natural but necessary to keep a group viable, self-critical, and creative. Encourages constructive conflict to improve performance.

• D. Functional Conflict – III
  → This refers to conflict that supports group goals and enhances performance—an outcome encouraged by the interactionist view.

✅ Final Answer: A-II, B-I, C-IV, D-III

✅ Correct Answer: Personality

✅ Explanation: Personality refers to the sum total of ways in which an individual reacts and interacts with others. It is the combination of characteristics, behaviors, attitudes, and patterns of thought that make an individual unique and influence how they respond to various situations in life.

❌ Why the other options are incorrect:

• Perception: This refers to the way individuals interpret or make sense of the world around them. It’s how one perceives reality, which may or may not influence behavior.

• Attitude: Attitude refers to a person’s feelings, thoughts, or predispositions toward a particular person, object, event, or situation. While attitudes are an aspect of personality, they are not the entire sum of a person’s behavior.

• Values: Values refer to what is important to an individual or the principles they hold dear, guiding their decisions and actions, but they are just one element of personality.

✅ Final Answer: Personality

✅ Final Answer: 400

📘 Explanation:

Final Answer: 400

✅ Correct Answer: C, E, D, B, A

✅ Explanation:

The correct sequence of components in a cost sheet from first to last is:

1. C. Raw Material Consumed

   • This is the starting point for calculating direct costs.

2. E. Prime Cost

   • Prime Cost = Direct Materials (Raw Material Consumed) + Direct Labour + Direct Expenses.

3. D. Factory Cost

   • Also called Works Cost = Prime Cost + Factory/Manufacturing Overheads.

4. B. Cost of Production

   • Factory Cost + Administrative Overheads related to production.

5. A. Cost of Sale

   • Cost of Production + Selling & Distribution Overheads (after adjusting for opening/closing stock of finished goods).

✅ Final Answer: C, E, D, B, A

✅ Correct Answer: A, C, B, E, D

📘 Explanation:

• A. Specifying Objectives – Define the purpose of forecasting (e.g., production planning, sales forecasting, inventory control).
• C. Determining the Perspective – Decide the forecasting time frame (short-term, medium-term, or long-term).
• B. Making Choice of Methods – Select an appropriate forecasting method (qualitative or quantitative) based on data availability and business needs.
• E. Collection of Data and Data Adjustment – Gather historical sales data, market trends, customer behavior, and external factors. Clean and adjust data for accuracy.
• D. Estimation and Interpretation of Results – Apply the chosen method, analyze forecasted results, and interpret insights for decision-making.

📝 Note:

1. In Theoretical Scenario, Making Choice of Methods is first followed by Collection of Data and Data Adjustment; we first decide the forecasting method and then collect the relevant data.
2. In Practical Scenario, Collection of Data and Data Adjustment is first followed by Making Choice of Methods; i.e. businesses collect data continuously. The forecasting method is chosen based on what data is available and reliable.

✅ Final Answer: A, C, B, E, D

✅ Correct Answer: Functional authority

✅ Explanation: Functional authority refers to the right delegated to an individual or department to control specific processes, practices, or policies, even if those processes or activities are undertaken by individuals in other departments. It grants power over certain functions across the organization without necessarily having direct hierarchical control.

❌ Why the other options are incorrect:

• Product authority: This would relate to authority over a product line or specific product decisions, not general functional control.

• Temporary authority: This refers to authority given for a specific period or situation, often for project-based tasks, rather than ongoing functional control.

• Service authority: This is not a common term in management theory and would not refer to the delegation of authority over processes or practices across departments.

✅ Final Answer: Functional authority.

✅ Correct Answer: A, B and C Only

✅ Explanation:
Microfinance services are aimed at providing financial access—particularly small loans, savings, and insurance—to low-income and underserved populations. Among the options:

• A. Conventional weaker section lending banks: ✅ Yes
  These include public sector banks, regional rural banks (RRBs), and cooperative banks that offer targeted loans to the weaker sections under government-mandated priority sector lending.

• B. Microfinance Institutions (MFIs): ✅ Yes
  MFIs are specialized entities that provide micro-loans and related financial services to the poor, particularly in rural and semi-urban areas.

• C. Self Help Group (SHG)-Bank Linkage Programme: ✅ Yes
  This is a flagship initiative by NABARD that connects SHGs of the poor with formal banking institutions, allowing them to access credit and savings facilities collectively.

• D. EXIM Bank (Export-Import Bank of India): ❌ No
  EXIM Bank is a specialized financial institution that supports export and import businesses, not microfinance for the poor.

✅ Final Answer: A, B and C Only

✅ Correct Answer:
A-III, B-IV, C-I, D-II

✅ Explanation:

• A. Decision theory approach: The decision theory approach focuses on making decisions, often using mathematical models and techniques to assist in decision-making.
  Explanation: Focus is on making decisions.
  (I) III

• B. Management science approach: This approach draws concepts and techniques from various fields such as engineering, economics, and statistics to improve operational efficiency and performance.

  Explanation: Draws together concepts, principles, techniques, and knowledge from other fields of managerial approach.
  (I) IV

• C. Operational approach: This approach applies mathematical models, quantitative methods, and statistical techniques to manage organizations.
  Explanation: Managing is seen as a mathematical process.
  (I) I

• D. Contingency approach: The contingency approach suggests that managerial practices and strategies must depend on the specific circumstances and context within which they are applied.
  Explanation: Managerial practice depends on circumstances.
  (I) II

✅ Final Answer:
A-III, B-IV, C-I, D-II

✅ Correct Answer: KAIZEN is subtle and its results are seldom immediately visible. It is an ongoing process and involves the entire organisation.

📘 Explanation:

• Kaizen is not dramatic or abrupt like an eruption; instead, it focuses on small, continuous improvements over time.
• It does not rely on sudden technological breakthroughs or major changes but rather on gradual refinements in processes, efficiency, and quality.
• Kaizen involves all employees, from management to frontline workers, in making small, incremental improvements that accumulate into significant long-term benefits.

✅ Final Answer: KAIZEN is subtle and its results are seldom immediately visible. It is an ongoing process and involves the entire organisation.

✅ Correct Answer: C,B, D, A, E.

✅ Explanation:
The question asks to arrange the financial institutions according to their formation from latest to earliest. Here’s the correct order based on their establishment years:

• C. National Bank for Agriculture and Rural Development (NABARD) – 1982
  Established to support rural development and manage rural credit.

• B. Regional Rural Bank (RRB) – 1975
  Created to provide credit facilities in rural areas and promote financial inclusion.

• D. National Industrial Development Corporation (NIDC) – 1954
  Formed to promote industrial growth by providing financial assistance and guidance.

• A. Industrial Finance Corporation of India (IFCI) – 1948
  Set up to provide medium and long-term finance to industrial sectors.

• E. The Reserve Bank of India (RBI) – 1935
  India’s central bank, established to regulate monetary policy and manage the country’s financial system.

✅ Final Answer: C,B, D, A, E.

✅ Correct Answer: Employee’s salary

✅ Explanation: The passage highlights that organizational culture includes factors such as core values, the company’s mission statement, and the expectations of employees. These elements shape the identity of the organization and influence how employees behave. However, employee’s salary is not mentioned as part of organizational culture. Salaries are typically related to compensation and not directly to the culture itself.

❌ Why the other options are incorrect:

• Core values: This is explicitly mentioned as part of organizational culture in the passage.

• Company’s mission: The passage refers to the company’s mission statement, which is a key element of organizational culture.

• Expectations of employees: This is clearly mentioned in the passage as being part of what shapes organizational culture.

✅ Final Answer: Employee’s salary

✅ Correct Answer: A-IV, B-III, C-I, D-II

✅ Explanation:

Let’s match Ind AS (from List I) with their related topics (from List II):

• Ind AS-12: Income Taxes

  • Reason: Ind AS 12 deals with the accounting for income taxes, including the recognition of tax liabilities and assets, and tax-related disclosures.

• Ind AS-16: Property, Plant, and Equipment (PPE)

  • Reason: Ind AS 16 prescribes the accounting treatment for tangible fixed assets like property, plant, and equipment, including the recognition, measurement, depreciation, and impairment of PPE.

• Ind AS-33: Earnings Per Share (EPS)

  • Reason: Ind AS 33 deals with the presentation and calculation of earnings per share, an important indicator of a company’s profitability.

• Ind AS-38: Intangible Assets

  • Reason: Ind AS 38 provides guidelines for the recognition, measurement, and amortization of intangible assets like patents, trademarks, copyrights, etc.

✅ Final Answer: A-IV, B-III, C-I, D-II

✅ Correct Answer: A, D, and E Only

✅ Explanation:

Flow of Funds occurs when there is a change between current and non-current accounts, i.e., movement of funds between different categories (working capital vs. non-working capital items).

Let’s analyze each case:

✅ Final Answer: A, D, and E Only

✅ Correct Answer: Personal Account

✅ Explanation: Prepaid salary is classified as a personal account because it represents an amount owed to the employee, and personal accounts typically deal with entities like individuals, organizations, or creditors. In accounting, prepaid salary is considered an asset, as it represents an advance payment for salary that will be expensed over time.

❌ Why the other options are incorrect:

Real Account: Real accounts typically relate to assets, liabilities, or property (e.g., cash, buildings, machinery). While prepaid salary is an asset, it is not classified under real accounts because it involves a specific individual or entity, making it a personal account.

Nominal Account: Nominal accounts deal with income, expenses, gains, and losses. Prepaid salary is not related to an income or expense but represents a prepaid amount related to future salary payments.

✅ Final Answer: Personal Account.