Commerce Accountancy

Business and Project Management

1,444 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

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

Hainmann observes that, "management is the function of getting things done through people and directing the efforts of individuals towards a common objective.  He expressed management as an art of getting things done by the people and through the people by directing in order to achieve common goals more efficiently and effectively.

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, employee

  3. People, people

  4. Manager, People
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Hicks defined management as a process that involved people and human science. He expressed management as an art of getting things done by the people and through the people in order to achieve common goals more efficiently and effectively. 

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

Following are the importance of management :-
(1) It arranges the factors of production, assembles and organizes the resources.
(3) It utilizes all the physical & human resources productively.
(5) It get maximum results through minimum input by proper planning and by using minimum input.Management can be defined as a process of getting things done with the aim of achieving goals effectively and efficiently. In absence of management no organization can run successfully.

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

Koontz & O'Donnell state that management means,"Getting things done ____________."

  1. Through people

  2. With people

  3. Through and with people

  4. By the people and through the people
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Koontz & O'Donnell state that management means,"Getting things done by the people and through the people. He expressed management as an art of getting things done by the people and through the people in order to achieve common goals more efficiently and effectively.

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 includes :-
a) Administrative management- Administration is concerned with policy-making and management deals with policy implementation.
b) Operative management- Management also looks after the activities and makes sure that all the required activities are done in an effective manner.
Multiple choice business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

As per TQM principles which of the following is problem _________.

  1. Process

  2. People

  3. Both process and people

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

As per TQM principles, process is problem. TQM is a process of transformation where the old system can no longer be maintained. TQM stands for Total Quality Management

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

It is a process of transformation where the old system can no longer be maintained ____________.

  1. Crisis

  2. Stress Management

  3. TQM

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

TQM is a process of transformation where the old system can no longer be maintained. TQM stands for Total Quality Management. As per TQM principles process is problem.

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 does not correctly depict the TQM principle?

  1. Every employee is responsible for quality.

  2. Quality is a long-term investment.

  3. People, not Processes, are the problem.

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

People, not processes, are the problem. TQM is a process of transformation where the old system can no longer be maintained. TQM stands for Total Quality Management. As per TQM principles process is problem.

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

Administration is a process of.

  1. Laying down broad policies

  2. Objectives of the organization

  3. Either (a) or (b)

  4. Both (a) & (b)
Reveal answer Fill a bubble to check yourself
D Correct answer
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.
Multiple choice business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

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?

  1. Certainty, Uncertainty, Risk

  2. Certainty, Uncertainty, Maximax

  3. Certainty, Minimax, Risk

  4. Maximax, Uncertainty, Risk
Reveal answer Fill a bubble to check yourself
A Correct answer
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.

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

Drucker assigns three jobs to 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
Reveal answer Fill a bubble to check yourself
A Correct answer
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.
Multiple choice business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

Board of directors of any company is normally concerned with.

  1. Management

  2. Administration

  3. Health of managers

  4. None of above
Reveal answer Fill a bubble to check yourself
B Correct answer
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.'

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

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

  1. Interpersonal Role

  2. Informational Role

  3. Decisional Role

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
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.
Multiple choice business organisation importance of management introduction and characteristics of management meaning, nature and importance of management basics of management

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

  1. True

  2. False

  3. Partly true

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

Modern management theory rejects the 'one best way' approach, favoring contingency theory, which suggests that the most effective management style depends on the specific situation.

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

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?

  1. Clarity in organizational action

  2. Personnel satisfaction

  3. Basis for organizational change

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