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Questions and Answers
Which one of the following best defines management?
Which one of the following best defines management?
- The process of controlling and directing resources to achieve organizational goals (correct)
- The process of hiring and firing employees
- The process of creating and implementing marketing strategies
- The process of conducting market research
What are the key functions of management?
What are the key functions of management?
- Selling, marketing, advertising, and promoting
- Planning, organizing, leading, and controlling (correct)
- Designing, manufacturing, distributing, and selling
- Researching, analyzing, evaluating, and reporting
What is the significance of management?
What is the significance of management?
- It helps in maximizing profits (correct)
- It helps in reducing costs
- It ensures customer loyalty
- It ensures employee satisfaction
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