Test: Nature And Significance Of Management - 2 - Commerce MCQ

• The three levels of management typically found in an organization are low-level management, middle-level management, and top-level management.
• Top-level managers are responsible for controlling and overseeing the entire organization.

The board of directors, president, vice-president, and CEO are all examples of top-level managers.

These managers are responsible for controlling and overseeing the entire organization. They develop goals, strategic plans, company policies, and make decisions on the direction of the business.

Planning is deciding in advance what to do, how to do when to do, and who is to do it. Planning involves setting objective sand developing appropriate courses of action to achieve these objectives.

Cooperation is the act of cooperating or acting together for a common goal, with the goal of assisting one another. It is more or less active help from a person, organization, or other entity

Correct option is B. Middle level management

The work performed by top level management is complex and stressful as their basic task is to integrate diverse elements and coordinate the activities of different departments according to the overall objectives of the organisation.

Efficiency means doing the task correctly and with minimum cost.
Effectiveness in management is concerned with doing the right task, completing activities and achieving goals.

Efficiency means doing the task correctly and with minimum cost.
Effectiveness in management is concerned with doing the right task, completing activities and achieving goals.

A process is an instance of program execution. This means, for example, that if you open up two browser windows then you have two processes, even though they are running the same program.
The life-cycle of a process can be described by a state diagram which has states representing the execution status of the process at various times and transitions that represent changes in execution status.
The operating system maintains management information about a process in a process control block (PCB). Modern operating systems allow a process to be divided into multiple threads of execution, which share all process management information except for information directly related to execution. This information is held in a thread control block (TCB).
Threads in a process can execute different parts of the program code at the same time. They can also execute the same parts of the code at the same time, but with different execution state:
They have independent current instructions; that is, they have (or appear to have) independent program counters.
They are working with different data; that is, they are (or appear to be) working with independent registers

Management is a group activity. Management is an activity which is necessary wherever there is a group of people working in an organization.

Management is an intangible force as we cannot feel or touch it. The presence of management can be felt in the way an organization functions.

Management is Multi Dimensional:
- Management involves various dimensions and aspects that need to be considered and addressed.
- It encompasses planning, organizing, leading, and controlling activities to achieve organizational goals.
- It includes decision-making, problem-solving, and resource allocation.
- It involves managing people, processes, and resources effectively and efficiently.
Management is Required in Small Business Firms:
- While the extent of management may vary in small business firms, it is still crucial for their success.
- Effective management ensures proper utilization of resources, improves productivity, and enhances profitability.
- It helps in setting goals and objectives, developing strategies, and making informed decisions.
- It ensures effective coordination among different functions and departments within the firm.
Management is not an Individual Activity:
- Management is a collaborative effort that involves working with and through others.
- It requires effective communication, delegation, and teamwork.
- Managers need to motivate, guide, and supervise their subordinates to achieve desired outcomes.
- Collaboration and coordination among individuals and teams are essential for effective management.
In conclusion, management is a multi-dimensional process that is required in small business firms. It involves various activities and requires collaboration and coordination among individuals and teams.

MANAGEMENT is all about the art of getting things done through others. All the elements are non-living and can be controlled in an organisation but we need people to manage and direct the non-living things into most productive uses.

Objectives of management include organizational, social and personal. So political objective is not an objective if management. 

Organizational objective is not concerned with supply of quality goods as it is a concern of operational level of management.

Providing facility of school and hospital is the social objective of management. Social objectives it involves the creation of benefit for society.

Chief marketing officer and managing director is a part of top level management. Top Management consist of the senior-most executives of the organisation by whatever name they are called.

Yes management is both science and art. Science can be defined as systematic body of the knowledge. Its principles are based on a cause and effect relationship.

Dynamic Function

Management is considered a profession where dynamic functions play a crucial role. This means that managers need to be adaptable, flexible, and able to respond to changes and challenges within the organization and its external environment. Managers are responsible for planning, organizing, directing, and controlling resources to achieve organizational goals effectively and efficiently. They also need to possess skills such as leadership, communication, decision-making, and problem-solving to be successful in their roles. While qualifications and backgrounds may vary, being able to perform these dynamic functions is essential for anyone who wants to excel in the field of management.

 

The word management denotes a function, a task, a discipline.

Effectiveness in management is concerned with doing the right task, completing activities and achieving goals.