Tag: basics of management

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

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

  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
Reveal answer Fill a bubble to check yourself
C Correct answer
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.

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

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?

  1. Interpersonal Behaviour Approach

  2. Empirical Approach

  3. Decision Theory Approach

  4. Contingency Approach
Reveal answer Fill a bubble to check yourself
A Correct answer
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.

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

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

  1. The supervisor's behaviour

  2. Organizational culture

  3. Code of ethics

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

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.