Mastering Management Objectives
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Questions and Answers

What are the objectives of management?

  • To reduce costs
  • To improve employee satisfaction
  • To develop new products
  • To increase profits (correct)

Which of the following is not an objective of management?

  • To maintain a competitive advantage
  • To enhance shareholder value
  • To ensure customer satisfaction (correct)
  • To promote employee well-being

What is the main goal of management?

  • To maximize shareholder wealth (correct)
  • To promote social responsibility
  • To achieve work-life balance
  • To minimize environmental impact

Which of the following best defines economic planning?

<p>A process of allocating resources to achieve specific economic goals (D)</p> Signup and view all the answers

What is the primary purpose of economic planning?

<p>To promote economic growth and development (B)</p> Signup and view all the answers

Which of the following is NOT a characteristic of economic planning?

<p>Market-based approach (A)</p> Signup and view all the answers

Which of the following best describes economic planning?

<p>A method of allocating resources and making decisions about production and distribution (D)</p> Signup and view all the answers

What is the main purpose of economic planning?

<p>To ensure equitable distribution of resources (A)</p> Signup and view all the answers

What are the key characteristics of economic planning?

<p>Centralized decision-making, government control of production and distribution (A)</p> Signup and view all the answers

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