Business Studies: Nature And Significance Of Management Quiz

2.

The primary or first function of every manager is __________________.

Planning
Staffing
Coordination
Organizing

Correct Answer

A. Planning

Explanation

The primary or first function of every manager is planning. Planning involves setting goals, determining the best course of action to achieve those goals, and developing strategies to accomplish them. It is a crucial function as it provides direction and helps in making informed decisions. Without proper planning, managers would not be able to effectively allocate resources, coordinate activities, or achieve desired outcomes. Therefore, planning is the fundamental function that lays the foundation for all other managerial activities.

Rate this question:

1

3.

Completing the task with minimum cost and optimum utilisation of resources is called __________________.

Efficiency
Effectiveness
Coordination
Organising

Correct Answer

A. Efficiency

Explanation

Efficiency refers to the ability to complete a task with minimum cost and optimum utilization of resources. It focuses on achieving the desired outcome in the most effective and productive manner. Efficiency ensures that resources are not wasted and that tasks are completed in a timely and cost-effective manner. It is an important aspect of any organization or individual's performance as it helps to maximize output while minimizing input.

Rate this question:

2

4.

Management works with the following objectives:

Objective of profit maximization
Objective of sales maximization
Objective of becoming market leader
Multiple objective

Correct Answer

A. Multiple objective

Explanation

The explanation for the given correct answer, "Multiple objective," is that management typically works towards achieving multiple objectives simultaneously. While profit maximization and sales maximization are common objectives, becoming a market leader is also often sought after. It is important for management to balance these objectives and prioritize them based on the company's overall strategy and goals. Having multiple objectives allows for a more comprehensive approach to decision-making and ensures that the company considers various aspects of its operations and performance.

Rate this question:

3

5.

Coordination is

An essence of management
A function of management
None of the above
Part of Management

Correct Answer

A. An essence of management

Explanation

Coordination is an essence of management because it plays a crucial role in achieving organizational goals. It involves harmonizing and integrating the efforts of different individuals and departments within an organization to ensure that they work together towards a common objective. Effective coordination helps in avoiding duplication of efforts, resolving conflicts, and maximizing productivity. It is an essential function of management as it facilitates effective communication, collaboration, and cooperation among team members. Coordination is a key element in the successful implementation of plans and strategies, making it a vital aspect of management.

Rate this question:

5

6.

The process of creating an internal environment, where individual work effectively and efficiently for achievement of goal is known as

Coordination
Delegation
(c) Management
Planning

Correct Answer

A. (c) Management

Explanation

The process of creating an internal environment where individuals work effectively and efficiently for the achievement of goals is known as management. Management involves organizing, planning, coordinating, and delegating tasks to ensure that the resources of an organization are effectively utilized to achieve the desired objectives.

Rate this question:

2

7.

Liaison with the outside world is the function of:

Top Level
Supervisory Level
Middle Level
All of the above

Correct Answer

A. Top Level

Explanation

Top level management is responsible for establishing and maintaining relationships with external stakeholders such as customers, suppliers, government agencies, and the general public. They represent the organization in external meetings, negotiations, and partnerships. This role involves networking, communication, and building strategic alliances to ensure the organization's interests are protected and its objectives are achieved.

Rate this question:

2

8.

Management is a process because:

It involves series of steps
It leads to systematic working
It involves one single activity
None of the above

Correct Answer

A. It involves series of steps

Explanation

Management is considered a process because it involves a series of steps that need to be followed in order to achieve a desired outcome. These steps typically include planning, organizing, leading, and controlling. By going through these steps, managers are able to systematically work towards achieving their goals and objectives. This systematic approach helps ensure that resources are effectively utilized and tasks are completed in a coordinated manner. Therefore, the correct answer is that management involves a series of steps.

Rate this question:

1

9.

Coordination does not come by chance but is a __________________ process. (Take care of spelling)

Correct Answer
deliberate

Explanation
Coordination is not a random or spontaneous process, but rather a deliberate and intentional one. It requires careful planning, communication, and collaboration among individuals or groups to achieve a common goal. Deliberate coordination involves consciously organizing and aligning efforts, resources, and actions to ensure efficient and effective outcomes. It involves actively considering and making strategic decisions to synchronize activities, allocate responsibilities, and establish clear channels of communication. By being deliberate in the coordination process, individuals or groups can enhance productivity, minimize conflicts, and achieve desired results.

Rate this question:

3

10.

The function of management, which creates various departments is called __________________.

Planning
Staffing
Organising
Directing

Correct Answer(s)

A. Planning
A. Organising

Explanation

The correct answer is Organising. Organising is the function of management that involves creating various departments within an organization. It is the process of arranging resources and activities in a structured manner to achieve the goals and objectives of the organization. This includes determining the tasks to be performed, grouping them into departments, assigning responsibilities, and establishing relationships between different departments. Organising helps in creating a framework for effective coordination and collaboration among different parts of the organization.

Rate this question:

3

Business Studies: Nature And Significance Of Management Quiz

Management is used only in Business Organisations.

Quiz Preview

The primary or first function of every manager is __________________.

Completing the task with minimum cost and optimum utilisation of resources is called __________________.

Management works with the following objectives:

Coordination is

The process of creating an internal environment, where individual work effectively and efficiently for achievement of goal is known as

Liaison with the outside world is the function of:

Management is a process because:

Coordination does not come by chance but is a __________________ process. (Take care of spelling)

The function of management, which creates various departments is called __________________.