Management Nature & Significance

Aarna company’s target production is 8,000 units in a year. To achieve this target the manger has to operate on double shifts due to power failure most of the time. The manage is able to produce 8,000 units bu at a higher production cost.

            In the above case, tell the status of the manger:

• Manager was effective

• Manager was efficient

• Manger was effective but not efficient

• Manager was efficient but not effective.

In a factory, a product is manufactured, in a garment store, a customer's need is satisfied and in a hospital a patient is treated. Management translates their work in terms of goals to be achieved and assigns the means to achieve it.

Identify the dimension of management discussed here.

• Management of operations

• Management of work

• Management of people

• Non of the above

A petrol pump needs to be managed as much as a hospital or a school. What managers do in India, the USA, Germany or Japan is the same. How they do it may be quite different. This difference is due :o the differences in culture, tradition and history.

Identify the characteristics of management that has been mentioned here.

• Management  is a goal oriented process

• Management is all pervasive

• Management is multi-dimensional

• Management is a continuous process

Identify the reason which makes management important in the light of the fact that it is generally seen that individuals in an organization resist change, as a change often means moving from a familiar, secure  environment into  a  newer and  a  more challenging one.

• Management helps in achieving group goals

• Management creates a dynamic organization

• Management increases efficiency

• Management helps in the development of society

Alo a mobility platform is in the process of laying off 400-500 employees in a move aimed at driving cost efficiency. Which objective of management will the firm not be able to achieve by carrying out this process

• Efficiency

• Social

• Profit

• Survival

The Topper group is looking to make a foray into manufacturing of semiconductors and it has set up a business to seize the business opportunity and add to its prospects in the long run. The company has already pivoted into a number of new projects like electronics, SG network equipment, as well as semiconductors. Which economic objective of management does the business seek to fulfill?

• Survival

• Growth

• Profit

• Efficiency

KTX Group is rolling out an initiative to help create wealth for its employees through the implementation of Employee Stock option. Through motivation and leadership the management will help individuals to develop team spirit, cooperation and commitment to the success of the group. The following importance of management is highlighted above:

• Management helps in achieving personal objectives

• Management helps in the development of society

• Management creates a dynamic organisation

• Management increases efficiency

'In order to be successful, an organisation must change its goals according to the needs of the environment.' Which characteristic of management is highlighted in the statement?

• Management is dynamic

• Management is a goal oriented process

• Management is a group activity

• Management is all pervasive

To meet the objectives of the firm, the management  of Angora Ltd. offers employment to physically challenged persons. Identify the objective it is trying to achieve.

• Organisational objective

• Personal objective

• Social objective

• Technical Objective

A manager does the Cost-Benefit Analysis in order to achieve efficiency. To this end, he takes into account the relationship between Input and Output. Which of the following factors is not included in Input?

• Money

• Material 

• profit 

• Persons