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Management Principles Overview

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Questions and Answers

What type of objectives can management classify?

Technological objectives, Individual objectives, Market objectives

Investment objectives, Environmental objectives, Strategy objectives

Organisational objectives, Social objectives, Personal objectives (correct)

Financial objectives, Marketing objectives, Production objectives

Management has the ability to adapt to changes in the environment.

True

What is the main objective of any organization as mentioned in the content?

To utilize human and material resources to the maximum possible advantage.

Management is responsible for setting and achieving _______ for the organisation.

objectives Signup and view all the answers

Match the following types of objectives with their descriptions:

Organisational Objectives = Achieving goals for the organization Social Objectives = Fulfilling responsibilities towards society Personal Objectives = Individual goals of employees Economic Objectives = Focus on profit, survival, and growth Signup and view all the answers

What does management help individuals achieve?

Personal goals and group success Signup and view all the answers

Management only focuses on financial objectives and ignores social needs.

False Signup and view all the answers

What is one way management helps to maintain a competitive edge in an organization?

By helping individuals adapt to changes. Signup and view all the answers

Management helps build ________ spirit, cooperation, and commitment to group success.

team Signup and view all the answers

Match the following objectives with their descriptions:

Achieving personal goals = Motivating individuals Commitment to group success = Building team spirit Development of society = Serving multiple objectives Maintaining competitive edge = Adapting to changes Signup and view all the answers

Study Notes

Nature and Significance of Management

Management involves multiple dimensions and is important for any organization’s success.
Management must enable growth and development of all members in the organization as needs and opportunities change.
Management is a dynamic function that must adapt to the changing environment.

Importance of Management

Management helps achieve group goals by coordinating efforts towards a common objective.
Management helps individuals achieve personal goals while contributing to the overall organizational goal.
Management plays a crucial role in the development of society.

Management As A Profession

Management is not a profession in the traditional sense but has characteristics of one.
Management is based on a well-defined body of knowledge.
There are professional associations for managers, but they have no statutory backing.
Management requires a degree of professional ethics.

Functions of Management

Coordinating is a critical function of management, ensuring unity of action in achieving common objectives.
Coordination is a continuous process, starting with planning and continuing throughout the control phase.
Coordination is all-pervasive, required at all levels of management due to the interdependent nature of activities.

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Description

This quiz delves into the nature, significance, and functions of management. It explores how management contributes to organizational success, facilitates personal goal achievement, and adapts to changing environments. Understand the professional aspects and ethics of management as well.