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Management Principles and Resource Utilization Quiz

10 Questions

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Management Principles and Resource Utilization Quiz

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Questions and Answers

Who is responsible for the effective and efficient utilization of an organization's scarce resources?

Supervisors

Customers

Employees

Top management or Managers (correct)

What are the five resources that make up an organization's resources according to the text?

Man, Material, Money, Machine, Methods (correct)

Man, Material, Money, Market, Methods

Man, Material, Marketing, Machine, Management

Man, Management, Money, Machine, Methods

How does Peter Drucker describe the understanding of management in the business world?

People in business understand management perfectly

Everyone in business has a clear understanding of management

Even people in business often do not know what management does (correct)

People in business have a vague understanding of management

In simpler terms, what is management defined as in the text?

Efficient and effective coordination of organization’s employees and optimum utilization of resources Signup and view all the answers

What are the scarce resources that management focuses on according to the text?

Man, Material, Money Signup and view all the answers

What are the five resources that constitute an organization's resources?

Man, Material, Money, Machine and Methods Signup and view all the answers

Who is involved in the effective and efficient utilization of an organization's scarce resources?

Organizational leaders or top management Signup and view all the answers

In simpler terms, how is management defined in the text?

Efficient and effective coordination of activities and optimum utilization of scarce resources Signup and view all the answers

What did Peter Drucker express about the understanding of management in the business world?

People in business often do not know what management does and what it is supposed to be doing Signup and view all the answers

What is the primary challenge due to the nature of resources?

Ensuring caution in utilization of resources Signup and view all the answers