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 is a _______.

  1. dynamic process

  2. continuous process

  3. both (a) and (b)

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

Management is a dynamic as well as continous. Management is a dynamic process because it keeps on changing with the changes that takes place in environment. It is continous process because it is the act of coordinating the efforts of people to accomplish desired goals and objectives using available resources efficiently and effectively. It continues till the goals are achieved by organisation.

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

Mathematical approach to management is closely related to ________.

  1. empirical approach of management

  2. inter personal behaviour approach of management

  3. corporate approach of management

  4. decision theory approach of management
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Mathematical approach to management is closely related to decision theory approach. As per this approach analysis and use of mathematical model is the main work of management.

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

Hick defines management as "the process of getting things done by the ______ and through the ______".

  1. people, manager

  2. people, employees

  3. people, people

  4. manager, people,
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Hicks defines management as the process of getting things done by the people and through the people, emphasizing the human element in organizational achievement.

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

Who started 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

Koontz and O'Donnell are credited with 'Getting things done through and with people' - emphasizing both task accomplishment and human collaboration. This is a duplicate of question 478241 testing the same concept. Options A (James), C (Haimann), and D (Henry Fayol) are not associated with this definition.

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

Management by objectives (M.B.O) s given by _________.

  1. Peter Drucker

  2. Fredrick Taylor

  3. Hick

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

Peter Drucker is widely recognized as the father of Management by Objectives (MBO), a framework he introduced in his 1954 book, The Practice of Management.

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

Haimann observes that, "management is the function of _______ ".

  1. getting things done through people and directing the efforts of individuals towards a common objective.

  2. forecast, and to plan, to organize to command.

  3. the process of getting things done by the people and through the people.

  4. thinking and utilizing human, material & financial resources in such a manner that would result in best combination.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Theo Haimann defined management as the function of getting things done through people and directing the efforts of individuals towards a common objective.

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

Statemetn I :  A true manager can continue to manage the same way as he has been doing it in the past.
Statement II : Considerations of efficiency and survival require that a manager should be constantly engaged in the task of innovation. 

Select the correct answer from the options given below - 

  1. Statement I and Statement II both are true.

  2. Statement II is true but Statement I is false

  3. Statement I and Statement II both are false.

  4. Statement I is true but Statement II is false.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Statement I is false - managers cannot continue managing the same way indefinitely; environments change, requiring adaptation. Statement II is true - efficiency and organizational survival require continuous innovation. Therefore, only Statement II is true, making B correct. Management must evolve to remain relevant.

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 importance of management?
(1) It arranges the factors of production, assembles and organizes the resources.
(2) It helps the country to keep balanced approached in social order.
(3) It utilizes all the physical & human resources productively.
(4) It helps the employees to get stronger trade union.
(5) It get maximum results through minimum input by proper planning and by using minimum input.
Select the correct answer from the options given below -

  1. (4), (2) & (1)

  2. (3), (2) & (5)

  3. (1) & (3)

  4. (3), (1) & (5)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Management is important because it organizes resources (1), utilizes human and physical resources productively (3), and maximizes results through planning and efficiency (5). Points 2 and 4 are not standard primary definitions of management's importance in this context.

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

Management is a ________.

  1. science

  2. art

  3. both (a) and (b)

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

Management is considered both a science because it has a systematic body of knowledge and principles, and an art because it requires the application of skills, creativity, and personal judgment.

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

Contingency theories identify _________________.

  1. one method of management is suitable for all situations.

  2. autocratic managers achieve the best results.

  3. people are more important than the products produced.

  4. the circumstances in which a particular practice is more likely to succeed.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Contingency theory suggests that there is no single best way to manage; instead, the optimal management approach depends on the specific circumstances or situation.

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

Managers require a combination of technical competence, social and human skills and conceptual ability. Technical competence may be defined as ___________.

  1. the ability to view the complexities of the operations of the organization as a whole, including environmental influences.

  2. the ability to secure the effective use of human resources of the organisation

  3. the ability to apply specific knowledge, methods and skills to discrete tasks

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

Technical competence refers to the ability to apply specialized knowledge, methods, and techniques to perform specific tasks within an organization.

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

As per Henry Mintzberg which of the following type of role a manager's has to play? 
(1) Interpersonal Role
(2) Informational Role
(3) Decisional Role
Select the correct answer from the options given below-

  1. (1)

  2. (2)

  3. (3)

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Henry Mintzberg identified ten managerial roles, which he categorized into three main groups: Interpersonal, Informational, and Decisional roles.

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

Which one of the following lines is best associated with managerial conceptual skills?

  1. Decision making

  2. Communicating with customers

  3. Using information to solve business problem

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

Conceptual skills involve the ability to see the organization as a whole, understand complex relationships, and use information to solve business problems.