BUSINESS CHAP 1 - Nature & Significance of Management

Identify the process that provides the requisite amount, quality, timing and sequence of efforts, which ensures that planned objectives are achieved with a minimum of conflict.

• Management

• Planning

• Co-ordination

• Controlling

Co-ordination is considered to be the essence of management because

• It is a common thread that runs through all the activities within the organisation

• It is implicit and inherent in all functions of the organisation

• It is a force that binds all the functions of management

• All of the above

Management is essential for the organisations which are

• Non-profit organisation

• Service organisations

• Social organisations

• All of the above

Answer explanation

Management is essential for all types of organisations irrespective of their size or type.

. It is a force that binds all the functions Of management.

• Co-ordination

• Planning

• Cooperation

• Management hierarchy

This function of Management related to placing the right person at the right job is

• Organising

• Staffing

• Planning

• Controlling

Jay is working as a marketing manager in a company. Has been given the task of selling 100000 units of a product at the cost of ₹100 per unit within 20 days. He is able to sell all the units within the stipulated time, but had to sell last 1000 units at 20% discount in order to complete the target. In such a situation, he will be considered to be

• An efficient manager

• An effective manager

• Both effective and efficient manager

• None of the above

Which of the following statements does not pertain to middle level management?

• They are responsible for all the activities of the operational managers

• They are responsible for the welfare and survival of the organisation

• The interpreter the policies made by top level managers

• Co-operate with other departments for the smooth running of the organisation

Answer explanation

They are responsible for the welfare and survival of the organisation- top level management

Identify the level of management which does not interact with the work force directly

• Supervisory management

• Operational management

• First line managers

• Middle level management

Answer explanation

The middle level managers interact with the supervisory/operational/first-line managers who in turn interact with the workers directly

Which of the following is a function of top level management?

• Ensuring quality of output

• Assigning necessary duties and responsibilities to their departments organisation.

• Taking responsibility for all the activities of the business and its impact on the society

• Ensuring that the safety standards are maintained within the organisation.

Answer explanation

Ensuring quality of output; Ensuring the safety standards are maintained within the organisation – lower level management and assigning necessary duties and responsibilities to their departments – middle level management.

Which of the following is not a designation related to lower level management?

• Plant Superintendent

• Supervisors

• Section officers

• Marketing Manager