Nature and Significance of Management Test

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Nature and Significance of Management Test - 31

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Weekly Quiz Competition

Question 1
1 / -0

___________ coined the word POSDCORB.

A
Luther Gulick

B
New man and summer

C
Henry Fayol

D
Marshall

Solution

Luther Gulick coined the word POSDCORB. POSDCORB is used as an acronym for Planning, Organizing, Staffing, Directing, Coordinating, Reporting and Budgeting. It reflects classical view of organization theory. It is broadly used in the field of management.
Question 2
1 / -0

Management might plan.

A
For a short period

B
For a long run

C
For a short period or long run

D
None of the above

Solution

Management might plan- for a short period and also for long period. The time period depends on the organizational objectives. Management helps to achieve group goals. It also helps to use available resources at an optimum level.
Question 3
1 / -0

Which is true regarding coordination?

A
It is needed to perform all functions of management.

B
It required at all levels.

C
It is the most important function of an organization.

D
All of the above

Solution

Coordination is an extrinsic part of management. It is required for performing different functions at all levels of management. Be it any sort of management functions, coordination is highly required.
Question 4
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The managerial task most clearly identified with the external environment is ______.

A
Operations control

B
Processing

C
Budgeting

D
Coordination

Solution

The managerial task most clearly identified with the external environment is coordination. Sometimes, to complete a task or achieve a goal it is important to coordinate with the external environment. External environment includes government, suppliers, customers etc.
Question 5
1 / -0

According to Theo Haimann, a managerial linking process would be ___________.

A
Communication

B
Adaptation

C
Coordination

D
Operations control

Solution

According to Theo Haimann, a managerial linking process would be coordination. Coordination helps in bringing together people who works for a common goal or objective. This helps in the task to be very efficient.
Question 6
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Which of the following would be included in the coordinating and controlling function?

A
Measuring results against corporate objectives

B
Explaining routines

C
Setting standards

D
Giving assignments

Solution

Coordinating and controlling functions are carried out in order to achieve organisational goals effectively. It includes measuring the results against the specific organisational objectives. After measurement, corrective measures are taken for reaching the goal efficiently.
Question 7
1 / -0

Management is ______________.

A
An art

B
A science

C
Both art and science

D
Neither

Solution

Management is science because of several reasons—it has universally accepted principles, it has cause and effect relationship, etc, and at the same time it is art as it requires perfection through practice, practical knowledge, creativity, personal skills, etc. Management is both art and science.
Question 8
1 / -0

An efficient control system helps to ________.

A
accomplish organisational objectives

B
boost employee's morale

C
Judge accuracy of standards

D
all of the above

Solution

Essentials of an effective and efficient control system. Some of the essentials are:
1. Simplicity
2. Objectivity
3. Promptness
4. Economy
5. Flexibility
6. Accuracy
7. Suitability
8. Forward-looking Nature
9. Focus on Strategic Points
10. Motivating and Others.
Question 9
1 / -0

A firm business income is nil/negative. It shall still be allowed as deduction on account of remuneration to working partner to the maximum extent of _____________________________.

A
Actual remuneration paid as specified in partnership deed

B
Rs. 50, 000

C
Nil

D
None of the above
Question 10
1 / -0

Answer the following question.
Which of the following is not a function of management?

A
Planning

B
Staffing

C
Co-operating

D
Controlling

Solution

Cooperating is not a function of management.

Among the given options option (c) cooperating is the correct answer.
There are Five functions of a management which are as follows :

(a) planning

(b) organising

(c) staffing

(d) Directing

(e) controlling

Coordination is needed to perform all these five functions of a management

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Nature and Significance of Management Test - 31

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Nature and Significance of Management Test - 31

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Question 1

Luther Gulick

New man and summer

Henry Fayol

Marshall

Solution

Question 2

For a short period

For a long run

For a short period or long run

None of the above

Solution

Question 3

It is needed to perform all functions of management.

It required at all levels.

It is the most important function of an organization.

All of the above

Solution

Question 4

Operations control

Processing

Budgeting

Coordination

Solution

Question 5

Communication

Adaptation

Coordination

Operations control

Solution

Question 6

Measuring results against corporate objectives

Explaining routines

Setting standards

Giving assignments

Solution

Question 7

An art

A science

Both art and science

Neither

Solution

Question 8

accomplish organisational objectives

boost employee's morale

Judge accuracy of standards

all of the above

Solution

Question 9

Actual remuneration paid as specified in partnership deed

Rs. 50, 000

Nil

None of the above

Question 10

Planning

Staffing

Co-operating

Controlling

Solution

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