The following is not an objective of management:a)Earning Profitsb)Pol...
Policy making is not an objective of management. It is in fact a process that involves the setting up of goals and objectives for the organisation and the determining the ways to achieve the desired goals. That is, it can be said that policy making is the path through which the objectives of a management i.e. organisational objectives (such as earning profits and growth of the organisation), social objectives (such as providing employment) and personal objectives can be achieved.
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The following is not an objective of management:a)Earning Profitsb)Pol...
because management is concerned with managing an business not solving economic problems . I wish it must be helpful
The following is not an objective of management:a)Earning Profitsb)Pol...
Explanation:
Management is the process of planning, organizing, coordinating, and controlling resources in order to achieve the goals and objectives of an organization. The objectives of management can vary depending on the specific organization and its goals. However, there are certain objectives that are commonly associated with management.
Earning Profits:
One of the primary objectives of management is to earn profits for the organization. Profit is an important measure of the success and sustainability of a business. It is the excess of revenue over expenses and reflects the efficiency and effectiveness of the organization's operations. Profit is essential for the survival and growth of the organization, as it provides the necessary funds for investment, expansion, and meeting financial obligations.
Policy Making:
Another objective of management is policy making. Policies are guidelines or rules that provide a framework for decision-making and action within an organization. Management is responsible for formulating and implementing policies that align with the organization's goals and objectives. Policies help in defining roles and responsibilities, setting standards, and ensuring consistency and fairness in decision-making processes.
Growth of the Organization:
Management plays a crucial role in driving the growth of an organization. It is responsible for identifying growth opportunities, formulating strategies, and implementing plans to expand the organization's operations. This can include entering new markets, launching new products or services, acquiring other businesses, or diversifying into related industries. The growth of the organization leads to increased market share, revenue, and profitability.
Providing Employment:
While providing employment is an important consequence of the activities of management, it is not considered an objective of management itself. The primary objective of management is to maximize the value of the organization for its stakeholders, which includes shareholders, employees, customers, suppliers, and the community. However, providing employment is a social responsibility of organizations and an outcome of their operations. By creating job opportunities, organizations contribute to economic development, social stability, and individual well-being.
In conclusion, the correct answer is option D - providing employment, as it is not an objective of management itself but rather a consequence of its activities.