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English Quiz for IBPS PO & CLERK : Part 13

English Quiz for IBPS PO & CLERK : Part 12
Directions (1-10) : Read the following passage carefully andanswer the questions given below. Certain words/ phrases have been given inbold to help you locate them while answering some of the questions.
Management education gained new academic stature within USUniversities and greater respect from outside during the 1960’s and 1970’s.Some observers attribute the competitive superiority of US corporations to thequality of business education. In 1978, a management professor, Herbert A.Simon of Carnegie Mellon University, won the Nobel Prize in economics for hiswork in decision theory. And the popularity of business education continued togrow, since 1960, the number of master’s degrees awarded annually has grown from under 5000 to over 50,000 in the mid 1980’s as the MBA has become known as‘the passport to the good life’. By the 1980’s, however, US business schools faced critics who charged that learning had little relevance to real business problems. Some went so far as to blame business schools for the decline in US competitiveness. Amidst the criticisms, four distinct arguments may be discerned. The first is that business schools must be either unnecessary or deleterious because Japan does so well without them. Underlying this argumentis the idea that management ability can not be taught, one is either born withit or must acquire it over years of practical experience. A second argument is that business schools are overly academic and theoretical. They teach quantitative models that have little application to real world problems. Third, they give inadequate attention to shop floor issues, to production processes and to management resources. Finally, it is argued that they encourage undesirable attitudes in students, such as placing value on the short term and‘bottom line’ targets, while neglecting longer term development criteria. Insummary, some business executives complain that MBA’s are incapable of handling day to day operational decisions, unable to communicate and to motivate people, and unwilling to accept responsibility for following through on implementation plans. 

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