Tag: importance of management

Questions Related to importance of management

A risk management system should mean that a company will ____________________.

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. Avoid all risks

  2. Reject any attempt to categories risk

  3. Consider the likelihood of risks materializing

  4. Establish risk-avoiding controls irrespective of their costs

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Correct Option: C
Explanation:

A risk management system should mean that a company will consider the likelihood of risks materializing. Risk management system deals with identifying and controlling threats to an organization's earnings.

In the past three to four decades, many management theorists, and writers have made remark about contribution in the study of management. By studying the various approaches to management analysis, we can understand the concept of management and have a better understanding of managerial functions. Which approach to management emphasizes managing people by understanding their individual psychological needs?

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. Interpersonal Behaviour Approach

  2. Empirical Approach

  3. Decision Theory Approach

  4. Contingency Approach

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Correct Option: A
Explanation:

In the past three to four decades, many management theorists, and writers have made remark about contribution in the study of management. By studying the various approaches to management analysis, we can understand the concept of management and have a better understanding of managerial functions. Interpersonal behaviour approach to management emphasizes managing people by understanding their individual psychological needs.Scholars belonging to Interpersonal Behaviour Approach feel that study of management should be based on interpersonal relations. It is also known as Behavioral science approach. It focuses on human relations and employees well being.

Administration is a process of.

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. Laying down broad policies

  2. Objectives of the organization

  3. Either (a) or (b)

  4. Both (a) & (b)

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Correct Option: D
Explanation:
Administration is a process of laying down broad policies and objectives of the organisation, management directs and guides the operations of an organisation towards realizing the objectives set-forth by the former.
Administration is a process through which decisions are reached. Administration is the process of directing and controlling life in any social organization such as schools or in an industry.

The success of an organization greatly depends on the decisions that managers make. What are the three decision-making conditions, which managers deal with, in analyzing decision alternatives?

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. Certainty, Uncertainty, Risk

  2. Certainty, Uncertainty, Maximax

  3. Certainty, Minimax, Risk

  4. Maximax, Uncertainty, Risk

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Correct Option: A
Explanation:

The success of an organization greatly depends on the decisions that managers make. Certainty, Uncertainty and risk are the three decision-making conditions, which managers deal with, in analyzing decision alternatives. These decision making conditions helps to achieve organizational goals and objectives.

Which of the following factors shapes the ethical behaviour of the members of an organization?

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. The supervisor's behaviour

  2. Organizational culture

  3. Code of ethics

  4. All of the above

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Correct Option: D
Explanation:

The supervisor's behaviour, organizational culture and code of ethicss- all these factors shapes the ethical behaviour of the members of an organization. All the factors helped to shape values and beliefs of the employees and helps to maintain proper code of ethics inn the organization.

Drucker assigns three jobs to management.

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. Managing a business; managing managers; and managing workers and work

  2. Managing a employees; managing managers; and managing accounting work

  3. Managing a business; managing creditors; and managing accounting work

  4. None of above

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Correct Option: A
Explanation:
Drucker assigns three jobs to management:a) Managing a business 
b) managing managers
c) managing workers and work
According to Peter Drucker these three jobs will help to conduct proper functioning of all the activities in an organization.

Board of directors of any company is normally concerned with.

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. Management

  2. Administration

  3. Health of managers

  4. None of above

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Correct Option: B
Explanation:

b'Board of directors of any company is normally concerned with Administration. Administration is often described as a top-level function. Administration can be defined as the universal process of efficiently organizing people and resources in order to achieve the organizational objectives.'

According to Henry Mintzberg, a manager's work has role of.

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. Interpersonal Role

  2. Informational Role

  3. Decisional Role

  4. All of above

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Correct Option: D
Explanation:
According to Henry Mintzberg, a manager\'s work has role of :-
a) Interpersonal role- Managers have to communicate and interact with other human beings, thus he should possess interpersonal role.
b) Informational role- Managers provide information to other employees working in an organization to carry out required activities.
c) Decisional role- Managers take decisions on behalf of the organization to achieve the set organizational objectives in an efficient manner.

Management theory and science advocate the "one best way to do things" in the light to every situation.

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. True

  2. False

  3. Partly true

  4. None of above

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Correct Option: B

Management by Objectives (MBO) is a system for achieving organizational objectives,enhancement of employee commitment and participation. Which of the following is NOT an advantage of MBO?

business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

  1. Clarity in organizational action

  2. Personnel satisfaction

  3. Basis for organizational change

  4. Flexibility

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Correct Option: D
Explanation:

Management by Objectives (MBO) is a system for achieving organizational objectives,enhancement of employee commitment and participation. Flexibility is not an advantage of MBO. This approach is appropriate of executives and supervisory personnel who can understand it in a better way. MBO is not easy to administer. It involves considerable time, thought and interaction between the superior and the subordinate.