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 management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

A good manager should posses ____________ .

  1. ambition

  2. creativity

  3. self motivation

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

A successful manager requires a combination of soft skills (motivation, creativity) and personal attributes (ambition) to lead effectively.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Managers can work better if their practice is based on the principles of science in management.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Applying scientific principles to management allows for more systematic, predictable, and efficient outcomes. This is the core premise of scientific management.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Management has its own vocabulary of terms and concepts.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Management has developed its own specialized terminology, such as 'planning', 'organizing', 'controlling', and 'synergy', which are used to describe its processes.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Management does not meet the exact criteria of a profession.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Management does not have a single, universally accepted regulatory body or a strict entry examination requirement like law or medicine, so it is often considered an emerging or 'soft' profession.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Human Resource Management (HRM) is that part of management which is?

  1. Concerned with how people at work use the various resources available in organization

  2. Concerned with people at work and with their relationship with an enterprise

  3. Concerned with how manager effectively use the various resources available in organization

  4. Concerned with how manager effectively control the people in organization
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Human Resource Management is that part of the process of management specifically concerned with the people at work and with their relationship with an enterprise. It is a management process which develops and manages human elements of the enterprise. 

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Which one of the following concepts are not associated with Scientific Management?
I. Mental Revolution
II. Unity of Command
III. Rule of Thumb
IV. Time and Motion Study
V. Differential Piece Rate Plan
Select the correct code:

  1. I, II and IV

  2. II, Ill and IV

  3. II and III

  4. I, IV and V
Reveal answer Fill a bubble to check yourself
C Correct answer
Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels 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

Science is characterized by its ability to evolve through new knowledge and empirical testing. Similarly, management principles are not static and adapt as new research emerges.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

What are the skills that are required by all level of managers?

  1. Conceptual skill

  2. Technical Skill

  3. Human relation skill

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

Regardless of the management level, all managers must interact with people. Human relation skills are essential for leading, motivating, and communicating with teams.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Board of directors are concerned with ________.

  1. administration

  2. management

  3. motivation

  4. all of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Board of Directors is responsible for setting high-level policies, objectives, and strategic direction, which is the definition of administration.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Which is the skill that is not required by low level management?

  1. Human relation skill

  2. Technical skill

  3. Administrative skill

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

Administrative skills involve high-level planning and policy formulation, which are the primary responsibilities of top management, not low-level (first-line) managers.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Skill is required as an important management tool to get the job of execution done. This principle of management describes management as _______.

  1. science

  2. art

  3. both a & b

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

The practical application of knowledge to achieve specific results is the hallmark of art. When management is viewed as a tool for execution, it emphasizes the 'art' of managing.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

From rational point of view leadership is _______ for managerial person.

  1. an essential character

  2. decision making

  3. general function selected to prosperity

  4. both a & b
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Leadership is considered both an essential character trait for a manager and a key component of effective decision-making, as it involves guiding others toward a common goal.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

It is uncommon that a professional manager may ____________.

  1. apply management theories

  2. not be dynamic

  3. be focussed

  4. be creative
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Professional managers are expected to be dynamic, adaptable, and proactive in a changing business environment. Being static or non-dynamic would hinder their ability to lead effectively, making it uncommon for a successful professional manager to lack these traits.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Which one of the following line 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 abstract business problems. Decision making is a process that uses these skills, but using information to solve problems is the most direct definition of conceptual application.

Multiple choice business organisation management - nature, significance and scope management as an art, science and profession management as art, science and profession comparison of business, profession and employment levels and functions of management management functions functions and levels of management

Frederick Taylor, Frank and Lillian Gilberth strongly supported an approach to management involving the use of scientific method. This approach is known as _________.

  1. the quantitative management

  2. management science

  3. scientific management

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

Scientific management, pioneered by Frederick Taylor and the Gilbreths, focuses on using scientific methods to determine the most efficient way to perform tasks. This approach revolutionized industrial productivity in the early 20th century.