Business Studies- Nature and Significance of Management

Plant Superintendent ✘ Supervisors ✘ Section officers ✘ Marketing Manager ✔

Operations Head ✘ Sales Manager ✘ Chief Operating Officer ✘ Divisional Manager ✔

Different functions within the organisation ✘ Different levels in the organisation ✘ Management as a multidimensional activity ✘ Management as a group activity ✔

President ✘ Vice-President ✘ Chairman ✘ Production Manager ✔

The principles of management lack universal validity ✘ The principles of management lack universal applicability ✘ The principles of management have to be modified according to the given situation ✘ Management involves dealing with human behaviour and outcomes cannot be predicted with utmost accuracy ✔

The principles of management have universal validity ✘ The principles of management have universal application ✘ Different principles of management are brought into effect differently by different managers ✘ It is not important for the practising managers to be a member of a professional association. ✔

It helps an organisation to adapt to the changes ✘ Seeks to integrate individual efforts ✘ It helps in development of the society ✘ All of the these ✔

Earning enough revenue to cover costs ✘ Earning sufficient profits to cover risks of business ✘ Increase in the prospects of business in the long run ✘ Providing free education to their employees children ✔

An intangible force ✘ A group activity ✘ A dynamic function ✘ A multidimensional activity ✔

Organisation is a collection of diverse individuals with different needs. ✘ Achievement of common goal requires teamwork and co-ordination of efforts in a common direction. ✘ Each member of the organisation may have different individual goals but they must travel together towards common goals. ✘ All of the these ✔