Efficiency and Cost-Benefit Analysis Quiz

Questions and Answers

Match the function of management with its description:

Planning = Process of setting goals and deciding on the actions to achieve them Organising = Process of arranging resources and tasks to meet the objectives Staffing = Process of recruiting, selecting, training, and developing employees Directing = Process of overseeing employees and guiding them towards goal achievement

Match the level of management with its characteristics:

Top Level Management = Focuses on long-term planning and strategic decision-making Middle Level Management = Coordinates activities between lower and top levels of management Lower Level Management = Supervises employees directly and ensures daily tasks are completed All Levels of Management = Involved in both decision-making and day-to-day operations

Match the concept of management with its definition:

Management = Process of planning, organizing, staffing, directing, and controlling resources for goal achievement Efficiency = Doing tasks correctly with minimum cost Effectiveness = Completing activities and achieving goals Goals in Management = Fulfilling organizational, social, and personal objectives

What does effectiveness in management primarily focus on?

Achieving goals Signup and view all the answers

Which term refers to the process of planning, organising, staffing, directing, and controlling enterprise resources for achieving organizational goals?

Management Signup and view all the answers

What is the main focus of efficiency in management?

Doing tasks correctly with minimum cost Signup and view all the answers

Which characteristic of management refers to its continuous nature?

Continuous process Signup and view all the answers

What is a key reason why management is important?

Achieving group goals Signup and view all the answers

In the context of organisations, what does efficiency focus on?

Doing tasks with minimum cost Signup and view all the answers

Which objective does management fulfill that contributes to the development of society?

Social Signup and view all the answers

What aspect of management refers to the process of guiding and leading employees towards achieving organizational goals?

Directing Signup and view all the answers

Which of the following best describes efficiency in management?

Doing tasks correctly while minimizing costs involved. Signup and view all the answers