Nature and Significance of Management Test

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Nature and Significance of Management Test - 2

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Weekly Quiz Competition

Question 1
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Consider the following information: ‘Management has vast theories and principles which were developed over the years with continuous observation and experimentation. Nowadays, these theories are taught as disciplines in various institutes. However, in real life, managers must apply these theories in a unique manner as per the condition, which requires practice.’Which aspect/s of management is being highlighted in the given information?

A
Management as an art.

B
Management as a science.

C
Management as a profession.

D
All of the above.

Solution

In the given information, management is described as science, art and profession.

Similar to science, management has a bank of theories and principles which were developed over years through continuous observation and experimentation by managers in different organisations and situations. These theories and principles are widely taught, i.e. knowledge of management can be acquired. Accordingly, it can be called a profession. However, its application requires one’s own practice and expertise. Managers must apply these theories and principles according to the situation in a unique manner. Accordingly, management can be called an art.

Hence, the correct answer is option D.
Question 2
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Joy was assigned the task of producing 100 units of output using 50 units of input in 10 days. However, in 10 days, he was able to produce only 80 units while all the units of input were exhausted. Which of the following aspects is being achieved by Joy?

A
Efficiency

B
Effectiveness

C
Both effectiveness and efficiency

D
Neither effectiveness nor efficiency

Solution

Joy is neither able to achieve effectiveness nor efficiency.

Effectiveness is said to be achieved when the task is completed in the stipulated time. In the given situation, Joy is not able to produce the required output in the given time.

On the other hand, efficiency is said to be achieved when greater units of output can be produced with the same/or lesser resources or same units of output can be produced with lesser resources. In the given situation, all the units of input are exhausted even when the required output is not produced. In other words, there is wastage of resources and thus inefficiency.

Hence, the correct answer is option D.
Question 3
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Consider the following information: ‘This function of management involves setting standards of performance and accordingly comparing the present performance with the set standards.’ Which of the following functions of management is being described in the given statement?

A
Controlling

B
Organising

C
Planning

D
Directing

Solution

The given statement describes the controlling function of management. Under the controlling function, standards of performance are set. The present performance is then compared with the set standard. Accordingly, corrective actions are taken as and when there is a deviation from the set standard.

Hence, the correct answer is option D.
Question 4
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Statement 1: Principles of management were developed over years through continuous observation and experimentation. Statement 2: Principles of management can be applied as they are and do not require any modification. Which of the following alternatives is correct with regard to the given information?

A
Only Statement 1 is correct.

B
Only Statement 2 is correct.

C
Both Statement 1 and Statement 2 are correct.

D
Neither Statement 1 nor Statement 2 is correct.

Solution

Statement 1 is correct, while Statement 2 is incorrect.

Principles of management have been developed by managers through continuous observation and experimentation in different situations in different organisations. However, these principles cannot be applied as they are. As human behaviour cannot be predicted, the result of these principles cannot be accurately predicted. The principles must be modified by managers so as to suit the situation.

Hence, the correct answer is option A.
Question 5
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Jyoti recently joined ABC Ltd. where her responsibilities include the following: 1. Coordinate different activities in the organisation 2. Keep an eye on the changes in the business environment 3. Formulation of goals and objectives for the organisation According to the given information, at which level of management has Jyoti joined?

A
Top level of management

B
Middle level of management

C
Lower level of management

D
None of the above

Solution

According to the given information, Jyoti has joined at the top level of management. Top level of management comprises senior executives in the organisation such as the CEO and the President. The responsibilities as given in the question are performed by the top level of management.

Hence, the correct answer is option A.
Question 6
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Which of the following statements is not true with regard to management?

A
Management as a process cannot be seen.

B
All organisations require management.

C
Various functions of management are performed one after the other.

D
Management is dynamic in nature.

Solution

The statement that various functions of management are performed one after the other is not true. The management process is continuous. Various functions of management—planning, organising, directing, staffing and controlling—are performed simultaneously rather than one after the other. Hence the correct answer is option D.
Question 7
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Consider the following information: ‘XYZ Ltd. is a cloth-manufacturing firm. In financial year 2015-16, it earned a profit of Rs 30 crore which was well above the cost which it incurred of Rs 10 crore. One of the highlighting features of the firm is that it uses techniques of production that are environment-friendly. However, the employees of the firm are dissatisfied as the salaries they get are less than the industry standards.’ According to the given information, which of the following objectives of management are being satisfied?

A
All organisational, social, personal

B
Organisational, personal

C
Organisational, social

D
Personal, social

Solution

According to the given information, organisational and social objectives are being satisfied while personal objective is not being satisfied.

Organisational objectives refer to achieving the goals and targets as set by the organisation. One of the organisational objectives is profit, i.e. the earnings of the organisation must be well above the costs incurred. In the given situation, this objective is being satisfied.

Social objective refers to creating benefits for the society as a whole and fulfilling ones social responsibility. In the given situation, this is achieved by using environment-friendly methods of production.

Personal objective refers to meeting personal goals of the people in the organisation along with organisational goals. In the given situation, this objective is not met as the employees are not getting salaries which are at par with industry standards and are thus dissatisfied.

Hence, the correct answer is option A.
Question 8
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Providing motivation and leadership is a part of which of the following functions of management?

A
Organising

B
Staffing

C
Directing

D
Controlling

Solution

Providing motivation is a part of the directing function of management. Directing involves encouraging the employees to work efficiently towards the objectives of the organisation. For this, motivation and leadership form the two most important tools.

Hence, the correct answer is option B.
Question 9
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Which of the following levels of management would be responsible for interpreting the policies framed and for assigning work?

A
Top level of management

B
Middle level of management

C
Lower level of management

D
None of the above

Solution

The middle level of management comprising the division heads are responsible for interpreting the policies framed by the top level of management, and accordingly, they assign work to the lower level of management. They act as a link between the top level management and the lower level management.

Hence, the correct answer is option B.
Question 10
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Consider the following information:

Situation Input Used (units) Output Produced (units)

Initial 100 200

Final Situation A 100 250

Final Situation B 70 200

Based on the above information, in which of the following situations efficiency can be said to be improved?

A
Final Situation A

B
Final Situation B

C
Both Final Situation A and B

D
Neither Final Situation A nor B

Solution

Efficiency is said to be improved when greater units of output can be produced with the same/or lesser resources or same units of output can be produced with lesser resources. According to the given information, this is achieved in both Final Situation A and Final Situation B. In Final Situation A, greater units of output are produced using the same units of input. On the other hand, in Final Situation B, the same units of output are produced using lesser units of input. In both situations, efficiency is improved from the initial situation.

Hence, the correct answer is option C.

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*Situation*	*Input Used* *(units)*	*Output Produced* *(units)*
Initial	100	200
Final Situation A	100	250
Final Situation B	70	200

Nature and Significance of Management Test - 2

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Nature and Significance of Management Test - 2

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Question 1

Management as an art.

Management as a science.

Management as a profession.

All of the above.

Solution

Question 2

Efficiency

Effectiveness

Both effectiveness and efficiency

Neither effectiveness nor efficiency

Solution

Question 3

Controlling

Organising

Planning

Directing

Solution

Question 4

Only Statement 1 is correct.

Only Statement 2 is correct.

Both Statement 1 and Statement 2 are correct.

Neither Statement 1 nor Statement 2 is correct.

Solution

Question 5

Top level of management

Middle level of management

Lower level of management

None of the above

Solution

Question 6

Management as a process cannot be seen.

All organisations require management.

Various functions of management are performed one after the other.

Management is dynamic in nature.

Solution

Question 7

All organisational, social, personal

Organisational, personal

Organisational, social

Personal, social

Solution

Question 8

Organising

Staffing

Directing

Controlling

Solution

Question 9

Top level of management

Middle level of management

Lower level of management

None of the above

Solution

Question 10

Final Situation A

Final Situation B

Both Final Situation A and B

Neither Final Situation A nor B

Solution

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