Nature and Significance of Management Quiz-1

Successful organisation do not achieve goals by chance but by following a deliberate process knwon as

• planning

• coordination

• controlling

• management

Answer explanation

Successful organizations achieve goals through a deliberate process called management. It involves planning, coordination, controlling, and more. However, management is the key to success.

________________ is the process of designing and maintaining an environment in which individuals working togather in groups efficiently and accomplish selected aims

• management
• planning
• organising
• coordination

Both company A and company B are using the same amount of resources however the output of company A is higher than that of company B. Identify the concept in which the company A as an edge over the company B.

• Effectiveness
• Efficiency
• Both effectiveness and efficiency

• None of the above

Tina work in an export house where maximum emphasis is placed on cutting down of cost. The company employs less labour to keep the cost of production low. As a result, the export house has to bear huge losses some times due to delay in completion of an export order. Identify the concept of management being ignored by the export house.

• Efficiency
• effectiveness
• Both effectiveness and efficiency

• none of the above

Diya and Riya work as a sales coordinators in separate divisions of a company in order to outbeat Riya Diya offers 10% discount to the customers as to boost sales and complete the sales target much before the stupulated time. identify the concept of management being ignored by the Diya

• Efficiency
• effectiveness
• Both effectiveness and efficiency

• none of the above

Effectiveness relates to

• doing the right task

• completing activities

• achieving goals

• all of the above

Answer explanation

Effectiveness relates to doing the right task, completing activities, and achieving goals, which are all encompassed by the correct choice 'all of the above'.

Anirban is working as a finance manager of ''shourya Limited.' a company dealing in exquisite designer jewellery. he has been ask to raise 200 crore with in next month to find the new project of a company. since the present interest coverage ratio of the company is low, the head (finance) is the option that the required capital should be raised through equity. moreover, the flotation cost should not exceed 8% of the funds raised. Anirban is able to raise the required fund after 8 months at 6% flotation cost he cannot be a aknowledge as an

• effective manager
• efficient manager
• both effective and efficient manager

• None of the above

Narayan work as a production manager in global enterprises Ltd. he has been given the task of getting 1000 units of hand woven table mats manufactured at the cost of 150 per units with in 10 days. in the order to be acknowledged as an effective manager, he must ensure that ___________

• the cost of production does not exceed 150 per unit
• The work is completed in 10 days even at the higher cost per unit.
• The cost of production is less than 150 per unit
• all of the above

Management is said to be poor if it is ____________

• Efficient but ineffective
• effective but inefficient
• Both inefficient and ineffective
• all of the above

It is difficult to demark the time spent by a manager in performing the particular function on a particular day as he may have to perform all the function simultaniously while doing his work. Identify the feature being highlighted in the given case.

• management is a goal oriented
• management is multidimentional
• management is all pervasive
• None of the above