Management Principles and Practices Quiz

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Questions and Answers

Which of the following best describes management?

The process of adapting goods or services to meet the changing needs of customers
The process of allocating financial resources within an organization
The process of setting the strategy of an organization
The process of coordinating the efforts of employees to achieve organizational objectives (correct)

What is the main focus of management?

Setting the strategy of an organization
Adapting goods or services to meet the changing needs of customers
Coordinating the efforts of employees or volunteers (correct)
Allocating financial resources within an organization

Which of the following is NOT a resource that management deals with?

Financial resources
Physical resources (correct)
Technological resources
Natural resources

What is the difference between 'run the business' and 'change the business' in management?

<p>'Run the business' refers to the continued delivery of goods or services, while 'change the business' refers to adapting goods or services to meet the changing needs of customers (A)</p> Signup and view all the answers