Nature and Significance of Management

When someone refers to the word management, it is regarding the managing and placing things in order to achieve a goal but then if we define it in a basic manner, Management is simply a problem solving process. The process of management involves 5 basic steps- 1. Planning. 2. Organizing. 3. Staffing. 4. Decision-making. And 5. Leading.

When we talk about its nature, it consists of a few points- 

1. Management is a universal process. 
2. The agenda of producing substances if the key.
3. It is directed to achieve an ultimate goal.
4. It is elite in thought processing and actions.
5. It  establishes a sense of leading figure or authoritative figure.
6. Management is a ‘ process’. 

The significance of management has other points to add. Those are-

1. To achieve a goal as a team or a group of individuals.
2. The efficiency within and outside of an organization increases.
3. Creates a sense of hierarchy in an organization. 
4. Develops society.

MCQS

1. What is Management?
2. 1. It is a process.
   2. Is it an organization.
   3. It is a way people work.
   4. It is a business term.

Ans- A. 

It is a process to solve a problem or in order to achieve an ultimate goal.

2. Why is management required?

1. 1. To achieve a personal goal.
   2. To achieve a collective goal and develop.
   3. To make money.
   4. To have good stability. 

Ans- B.

Management is directed towards achieving a goal together as a group of individuals. A goal is a collective one and not that of a person for his/her own selfish means.

3. What is a prime key for a successful management process?

1. 1. Coordination.
   2. Understanding.
   3. Good HR
   4. More salary.

Ans- A. 

Coordination is the most important element unless there’s mo coordination it is impossible to hold an organisation. 

4. What kind of process is management?

1. 1. Hierarchical 
   2. Organizational.
   3. Mental.
   4. Universal. 

Ans- D. 

The process of management is universal and practiced everywhere around the globe. It is not a single entity.

5. What effect does management have on society?

1. 1. It gives society money.
   2. It unites the society.
   3. It develops society.
   4. It divides society.

Ans- C.

When an organisation developed & paves opportunities for betterment, it somewhere develops the society & paves way for more progress. 

6. What is the factor of Production in management?

1. 1. To produce goods in large number.
   2. To organise resources & factors to create an office.
   3. To Produce more substances.
   4. New variation in management.

Ans- B.

In order to produce, the utilisation of available resources & make use of it wholey is very vital without an effective use of resources, the production wouldn’t take place.

7. What is management in reference to a profession?

1. 1. A manager should be educated & equipped with skills to hold his managerial responsibilities.
   2. It’s a management process.
   3. It involves managing humans.
   4. It is a profession of continuous organising & looking after employees.

Ans- A.

For a manager to be a good one, it is important for that individual to be well qualified educationally & has skills to be a responsible manager.

8. What kind of environment a manager creates?

1. 1. Managerial Environment
   2. Business Environment
   3. Strict work Environment
   4. Production Environment

Ans- B.

Management creates a sense of business environment as it deals with an organisation which is directed to work in order to produce goods & make money. 

9. Why does a management style has to be Flexible?

1. 1. To make more room for opportunities.
   2. Management shouldn’t be flexible at all.
   3. To centralise the organisation.
   4. To adapt the changes as the opportunities come up.

Ans- D.

Flexibility is essential as in an organisation there’s never a stability. An organisation undergoes changes, new dimensions & faces new challenges everyday so hence an organisation should be flexible. 

10. Why is controlled behaviour an aspect of management?

1. 1. To create similarities.
   2. To make sure everything is under control.
   3. To connect create a sense of control & coordination between the employees.
   4. To control employes as per managers will.

Ans- C.

Controlling here doens’t means to control actions of people rather it referes to control & monitoring of actions which is directed to th result.

11. Which of the following designationd aren’t in the hierarchy of top level management?

1. 1. Chairman
   2. Production manager.
   3. Director.
   4. President.

Ans- D.

The production manager is a post of middle level management & deals with the activities of production & manages office of the lower level.

12. Which of the following is the prioritisation of the upper level management function?

1. 1. To giving people their responsibilities & duties in order to provide work to the employees.
   2. Making sure that the safety measures are taken & create a healthy, safe & an effective work environment.
   3. Making sure the quality of products are right.
   4. Giving salaries.

Ans-B.

More than anything the priority of the upper management employees should be making sure to create regulations for a safe & healthy work environment. 

13. What is staffing?

1. 1. Placing the people of right qualifications as per the job description.
   2. To staff people in large number.
   3. To ask HR to staff the best people.
   4. To have the biggest staff in the organisation.

Ans- A.

Staffing is alloting the person with a certain qualification to that very job. A correct assesment for staffing is very essential as it can determine the future of the company. 

14. What is a basic function of a manager?

1. 1. Organising.
   2. Planning.
   3. Controlling.
   4. Coordinating.

Ans- B.

Planning which involves a ‘plan of action’ & decoding the steps in order to achieve goal is the most primary function of a manager.

15. Which of the following is not an objective of management?

1. 1. Development of an organisation.
   2. Creating the opportunities for employment & providing people with employment. 
   3. Creation of policies & clauses.
   4. To create projects.

Ans- D.

An organisation produces, grants opportunities, gives employment & salaries but does not make or earn projects. In a business environment projects are not earned. 

16. What are the processes that come under the frame of ‘ management ‘ ?

1. 1. To manage & look over all the actions being held in the organisation.
   2. To monitor, guide & control all the happenings inside the organisation.
   3. To govern the various departments of the organisation.
   4. All of the above.

Ans- D.

Management Is not a single entity, it includes an array of processes within it. It includes planning , structuring, leading, staffing & etc. 

17. One of the prime objectives of management can be recognised as .

1. 1. To develop society.
   2. To attain a goal through teamwork & collaboration.
   3. To develop oneself & integrate skills.
   4. All of the above.

Ans- D.

Management is required for multiple things & in that process it benefits a lot of associations of people. It develops society, people learn skills & growth takes place both individually & as an organisation too.

18. Coordination is an ideal element of management as it is –

1. 1. Prime notion of management.
   2. Essence of management.
   3. Important for management.
   4. None of the above.

Ans- B.

Coordination is an essence to the process of management. Without  coordination between the subordinates & the higher management it is impossible for the production to take place & for growth to occur.

19. In an organisation how is the term of ‘growth’ being defined?

1. 1. Growth happens when there is more profit.
   2. Growth happens when there is a big leap in production.
   3. Growth is when there is demand for a product and the sale grows.
   4. Both b. and c.

Ans- D.

For an organisation to stand for a long run it is important for the organisation to grow rapidly. It being stable would be vague. But the growth of the organisation is based on the lethal production and the number of sales.

20. Which one of these statements is incorrect in reference to the term of management ?

1. 1. Management is dynamic in nature.
   2. Management is a universally applied process.
   3. Management is a rigid process. 
   4. Management process is committed to solve problems of an organisation.

Ans- C.

Process of management can never be rigid. It has to be continuous and more capable of accepting, adapting & growing. 

21. Management is not the study of ?

1. 1. A study of pure science.
   2. Study of humanity.
   3. Study of the human brain. 
   4. None of the following.

Ans- A.

Management is logical, flexible and very adaptive. It is a wide subject with a lot of elements in it but the concept of pure science doesn’t adhere here.

22. How many levels of management does an organisation have in a general sense ?

1. 1. One.
   2. Two.
   3. Three.
   4. Four.

Ans- C.

In general the management hierarchy in an organisation consists of management in three basic stages, namely-. Upper/ topper level management, middle level management and the lower level management. 

23. The individuals with the posts of Chief executive officer ( CEO ) , Chief marketing officer ( CMO ) and the executive directors fall into which level of management?

1. 1. Lower level of management.
   2. Upper/ Top level management.
   3. Middle level management.
   4. None of the above as they’re not managers.

Ans- B.

The Chief Executive officer, Chief Marketing officer & the Directors are the top level management, they’re responsible for holding the organisation & set the short term and as well as the long term goals of an organisation.