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Saturday, February 24, 2018

Business Studies Objective Type Questions

CHAPTER-1: NATURE AND SIGNIFICANCE OF MANAGEMENT
1. “Anything minus management is nothing”. What does this statement tell?
Ans: This statement tells about the importance of management in the organisation. Here Anything refers to all types of business and non-business activities and nothing refers to failure or loss.

2. Management is multi dimensional. Write one dimension.
Ans: Three Dimensions:
(i) Management of work: It is concerned with performance of tasks in an organisation.
(ii) Management of people: It implies dealing with employees as individuals and dealing with individuals as a group.
(iii) Management of operations: It is interlinked with both management of work and management of people.

3. Name the level of management the following posts belong to:  Purchase Manager and Superintendent.
Ans: Purchase Manager – Middle level management.  
Superintendent – Lower level management.

4. What do you mean by “efficiency” and Managerial Effectiveness?
Ans: MANAGERIAL EFFECTIVENESS: The effectiveness of the managers is measured in the effectiveness of the organization in achieving the organizational goals. 
Managerial efficiency is the proportion of total organization resources that contribute to productivity during the manufacturing process.

5. Which function of management ensures that actual activities conform to planned activities? Or Name the functions which reviews the operations in a business unit.
Ans:  Controlling

6. Who are regarded as middle management in a business organisation?
Ans: operational supervisors

7. List two social objectives of management.
Ans: 1. Providing equal employment opportunities and 2. Providing Good Quality Product

8. What is POSDCORB? Who coined the term?
Ans: P – Planning. O – Organising, S – Staffing, D – Directing, C – Coordinating, O – Organising, R – Reporting and B – Budgeting. This term is coined by L. Gullick and L. Urwick.

9. Why is coordination known as essence of Management?                      
Ans.: Because it is not a separate function of Management rather it forms a major part of all the other functions of Management. It is the base of all other function of management.

10. Implementation of plan is the function of which level of management?                           

Ans: Middle Level Management/ Lower level mgt.

11. At which level business policy is framed?                     
Ans: Top Level

12. Management is intangible and dynamic. (True or false)                                  
Ans: True 

13. Who defined management as the art of getting things done through others?               
Ans: Harold Koontz

14. Why is it said management principles are universal?             
Ans: Universal Application: Management principles are applied in every situation, where the objectives are attained through group efforts. All social, economic, political, cultural or even religious organizations apply management principles for the successful operations of their activities.

15. How management is an intangible force?
Ans: Management is intangible: It cannot be seen but it can be felt through the performance of the workers. Mismanagement if any is quickly noticed and is a sign of poor management.

16. What do you mean by management?
Ans: Management is the coordination of all resources through the process of planning, organizing, directing, staffing and controlling in order to attain stated objectives effectively and efficiently.  Effectively means doing the right task, completing activities and achieving goals and efficiently means to attain objectives with least amount of resources at a minimum cost.

17. Write one important objective of Management.
Ans: Obtaining maximum output with minimum input:  A successful management must achieve the objectives of the business by making optimum utilization of available resources effectively.

18. Why is it said that management is pervasive?           
Ans: Because it is needed in all spheres say-business and non business organization.

19. Why management is Goal oriented?
Ans: Every management activity is directed towards achieving predetermined objectives of the organisation. That is why management is a goal – oriented process.

20. “Management is a continuous process.” Elucidate the statement.
Ans: It is a never ending process. It is concerned with constantly identifying the problem and solving them by taking adequate steps. It is an on-going process.

21. Why management is called a Dynamic Function?

Ans: Management is dynamic: Under dynamic environment management faces several challenges hence efforts are made to develop and use new techniques for managing the organizations effectively and efficiently.  As social change takes place, management also changes to overcome the problems whenever they arise.

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