UGC NET Management Unit - IX Flashcards

24 sample cards from the Unit - IX deck

Sampled from the end of the deck, so these are different cards from the ones shown on the syllabus page.

1. What is the difference between the IMF and the World Bank?

   The IMF focuses on monetary cooperation, exchange-rate stability, and short-term balance-of-payments support; the World Bank provides long-term loans for development projects and poverty reduction.

2. What is the role of the IDA within the World Bank Group?

   The International Development Association provides interest-free or low-interest concessional loans (credits) and grants to the world's poorest countries.

3. What is the role of the IFC within the World Bank Group?

   The International Finance Corporation promotes private-sector development by providing investment, loans, and advisory services to private enterprises in developing countries.

4. What does MIGA do in the World Bank Group?

   The Multilateral Investment Guarantee Agency provides political-risk insurance and credit enhancement to investors and lenders to encourage foreign direct investment in developing countries.

5. What are the main uses/applications of computers in management?

   Data processing, decision support, record-keeping/accounting, inventory and production management, financial analysis, marketing/CRM, HR management, communication, planning, forecasting, and report generation.

6. Define a Management Information System (MIS).

   An integrated, computer-based system that collects, processes, stores, and disseminates information to support managerial planning, control, and decision-making at all levels of an organization.

7. What are the main objectives/functions of an MIS?

   To provide timely, accurate, and relevant information to managers; support planning and control; improve decision-making; increase efficiency; and facilitate coordination across the organization.

8. What type of decisions does an MIS primarily support?

   Structured and semi-structured decisions, mainly at the operational and middle-management (tactical) levels, through routine summary, exception, and periodic reports.

9. What are the components of an MIS?

   People (users), Hardware, Software, Data/Database, and Procedures (and communication networks) working together to convert data into useful information.

10. Define a Decision Support System (DSS).

    An interactive computer-based information system that helps managers use data and models to solve semi-structured and unstructured problems, supporting (not replacing) human decision-making.

11. What are the main components of a DSS?

    (1) Database/Data management subsystem, (2) Model base/Model management subsystem, (3) User interface (dialog subsystem), and the user/decision-maker.

12. What is the difference between MIS and DSS?

    MIS provides routine, predefined reports for structured decisions and operational/tactical control; DSS is flexible, interactive, and model-driven, supporting semi-structured/unstructured decisions for non-routine problem-solving.

13. What kind of decisions does a DSS support?

    Semi-structured and unstructured decisions, typically at the middle and top (strategic) management levels, involving 'what-if' analysis and modelling.

14. What is a Transaction Processing System (TPS)?

    A computer-based system that records and processes the routine day-to-day transactions of an organization (e.g., sales, payroll, orders); it forms the data foundation for MIS and other systems.

15. What is an Executive Information System (EIS) / Executive Support System (ESS)?

    A specialized information system designed for top executives, providing easy access to internal and external summarized strategic information to support high-level, unstructured strategic decisions.

16. What is an Expert System?

    A computer system that uses a knowledge base and inference rules to emulate the decision-making ability of a human expert in a specific domain, providing advice or solutions.

17. Distinguish between data and information.

    Data are raw, unprocessed facts and figures; information is processed, organized, and meaningful data that is useful for decision-making in a specific context.

18. What are the desirable characteristics (qualities) of good information?

    Accuracy, relevance, timeliness, completeness, conciseness, clarity, reliability, cost-effectiveness, and being in an appropriate form for the user.

19. What is the meaning of 'balance of trade' versus 'balance of payments'?

    Balance of trade is the difference between the value of a country's merchandise exports and imports; balance of payments is the broader record of all economic transactions (goods, services, capital, transfers) between a country and the rest of the world.

20. What is a tariff in international trade?

    A tax or duty imposed by a government on imported (or sometimes exported) goods, used to raise revenue and protect domestic industries from foreign competition.

21. What is a non-tariff barrier (NTB)?

    Any restriction on trade other than tariffs, such as import quotas, licensing requirements, embargoes, standards, subsidies, and administrative regulations that limit imports/exports.

22. What is the database component's role in a DSS versus an MIS?

    In an MIS the database supplies data for standardized periodic reports; in a DSS the database (often with external data) feeds models and ad-hoc, interactive queries for flexible analysis.

23. What is 'what-if analysis' in the context of a DSS?

    A simulation technique where the decision-maker changes input values/assumptions in a model to observe the effect on outcomes, helping evaluate alternative scenarios before deciding.

24. What is the conditionality associated with IMF loans?

    IMF financial assistance is generally provided subject to 'conditionality' - the borrowing country must adopt specified economic policy reforms (structural adjustment, fiscal/monetary measures) to correct its balance-of-payments problems.

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Unit - IX flashcards FAQ