Commerce Accountancy

Business and Project Management

1,146 Questions

Business and project management focus on organizational resources, strategic planning, and time management techniques used to achieve corporate objectives. It includes theories of administration and continuous improvement processes. Review these commerce and management questions to prepare for business administration sections in competitive exams.

Strategic managementTime managementOrganizational resourcesAdministration principles

Business and Project Management Questions

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

Management includes ____________.

  1. administrative management

  2. operative management

  3. either (A) or (B)

  4. both (A) & (B)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Management is broadly categorized into administrative management (strategic) and operative management (execution), thus both are included.

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

Which of the following is NOT the objective of management?

  1. Not to waste the efforts of management

  2. To save the time efforts & money

  3. Management does not take care of the betterment of the society

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Objectives of management include maximizing efficiency, not wasting efforts, saving resources, and societal betterment. Option C states management does NOT care about societal betterment, which is FALSE - therefore it is NOT an objective. This creates a logical confusion, but based on the marking, C is the answer.

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

Management can be defined as science because __________.

  1. new knowledge can always change the old established principles of management.

  2. new knowledge of science help the managers.

  3. because scientists are always making new things for the managers.

  4. None of the above.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Management is considered a science because it involves a systematic body of knowledge, but it is a 'soft' science where principles evolve and change based on new findings and environmental shifts.

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

Which of the following is not a concept? Select correct option:

  1. Leadership

  2. Total quality management

  3. Human resource management

  4. IQ
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Leadership, TQM, and HRM are recognized management concepts. IQ (Intelligence Quotient) is a psychological metric, not a management concept.

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

Who stated that management means, "Getting things done through and with people"?

  1. James

  2. Koontz and O'Donnell

  3. Haimann

  4. Henry Fayol
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The definition 'Getting things done through and with people' is famously attributed to Harold Koontz and Cyril O'Donnell.

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

The five elements in the management process are __________.

  1. plan, update, lead, and supervise

  2. organize, plan, control, staff and manage

  3. plan, organize, staff, lead and control

  4. plan, lead, organize, manage and control
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Management is a dynamic process of getting things done by others with the aim of achieving common goals effectively and efficiently. Management process includes all the function that are followed by a manager as a managerial action which includes planning, leadings, organizing, managing and controlling. 

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

Which of the following is not an element of the management process?

  1. Pricing

  2. Staffing

  3. Planning

  4. Controlling
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Management is a dynamic process of getting things done by others with the aim of achieving common goals effectively and efficiently. Therefore, pricing is not an element of the management process as it is the part of marketing strategy of a company and does not relates to directly influencing human behaviour. 

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

Which is not a basic function of the management processes?

  1. Controlling

  2. Organizing

  3. Working

  4. Leading
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Management is a dynamic process of getting things done by others with the aim of achieving common goals effectively and efficiently. Management process includes all the function that are followed by a manager as a managerial action which includes planning, leading, organizing, managing and controlling. Therefore, working is not a basic function of planning. 
Multiple choice business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

Empirical approach of management says that ________.

  1. understanding of management is based on study and analysis of different cases

  2. understanding of management is based on study and analyse of interpersonal skills.

  3. understanding of management to decision making power of management

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The empirical approach to management focuses on learning from past experiences, case studies, and the analysis of successful or unsuccessful management practices. This allows managers to apply lessons learned from history to current situations.