Nature And Significance Of Management

Question 1

Define management.

Answer 1

It has been defined as a process of getting things done with the aim of achieving goals effectively and efficiently

Question 2

Difference between efficiency and effectiveness.

Answer 2

Effectiveness in management is concerned with doing right task completing activities and achieving goals. It is concerned with the need results.
Efficiency means doing right task on time with minimum cost. It involves cost benefit analysis

Question 3

Characteristics of management.

Answer 3

1. Management is goal oriented
2. Management is all pervasive
3. Management is multi dimensional
   A) management of work
   B) management of people
   C) management of operations
4. Management is continuous
5. Management is a group activity
6. Management is a dynamic function
7. Management is an intangible force

Question 4

Objectives of management

Answer 4

1. Organisational objectives
   A) survival
   B) profit
   C) growth
2. Social Objectives
3. Personal or Individual Objectives

Question 5

Importance of management

Answer 5

1. It helps in achieving group goals
2. It increases efficiency
3. It creates a dynamic organisation
4. Helps in achieving personal objectives
5. It helps in development of society

Question 6

Management as an art

Answer 6

1. Existence of theoretical knowledge - can be related to management
2. Personalised application
   - can be related to management
3. Based on practice and experimentation
   - can be related to management

Question 7

Management as a science

Answer 7

1. Systematised body of knowledge - can be related to management
2. Principles based on experimentation - cannot be fully related to management as it is an inexact science and deals with human beings.
3. Universal Validity - cannot be fully related to management as it deals with human beings and their behaviour is different

Question 8

Management as a profession

Answer 8

1. Well defined body of knowledge -can be related to management
2. Restricted entry - not related to management
3. Personal association - not related to management
4. Ethical code of conduct - in a way or indirectly connected to management
5. Service motive - in a way or indirectly connected to management

Question 9

Levels of management

Answer 9

1. Top level
2. Middle Level
3. Lower/ supervisory /operational/foreman level

Question 10

Definition of coordination

Answer 10

The process by which manager synchronises the activities of different departments is known as coordination

Question 11

Why is coordination an essence of management?

Answer 11

It is the force that binds all the other functions of management. It is the common thread that runs through all the activities such as production, purchase, sales and finance.

Question 12

Characteristics of coordination

Answer 12

1. Coordination integrates group efforts
2. It ensures unity if action
3. It is a continuous process
4. It is the responsibility of all managers
5. It is a deliberate function
6. It is an all pervasive function

Question 13

Importance if coordination

Answer 13

1. Growth in size
2. Functional differenciation
3. Specialisation