Advertisements
Advertisements
Question
State any three objectives of management
Advertisements
Solution
Objectives of Management:
1) Organisational objective: It refers to achieving the goals and targets as set by the
organisation. It includes the following objectives:
- Survival: The organisation must earn enough revenue to cover its overall costs.
- Profit: The earnings of the organisation must be well above the costs incurred
- Growth: It is essential for the organisation to grow to continue in the long run
2) Social objective: It refers to creating benefits for society as a whole and fulfilling one's social responsibility
3) Personal objective: It refers to meeting the personal goals of the people in the organisation along with organisational goals
APPEARS IN
RELATED QUESTIONS
'Management is the process of getting things done.' State the meaning of the term 'process' used in this statement.
Explain any four features of management.
Explain how management helps in the development of society.
What is meant by 'Management'?
Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
Answer the following question.
Management is a complex activity that has three main dimensions. Explain these dimensions.
List out the management tools.
According to the nature of management, Management can be considered as ______.
Ravi joined a marketing firm as a Sales manager. On his first day in the company, during the orientation programme, the CEO of the company told Ravi that he will have to simultaneously perform the functions of management (planning, organising, staffing, directing, controlling) all the time. Which characteristic of management was the CEO referring to?
Successful organisations do not achieve goals by chance but by following a deliberate process known as
Efficiency is concerned with
Discuss the basic features of management as a profession.
Which statement is correct regarding division of work?
______ is used extensively for all types of activities and mainly for taking charge of different activities in any enterprise.
Design phase comprises of ______
Match the CHARACTERISTICS of management in Column I with their correct EXPLANATIONS in Column II:
| Column I | Column II | ||
| (a) | Goal-oriented process | (i) | Management is a complex activity involving management of people, work and operations. |
| (b) | Group activity | (ii) | Some aims and objectives are the basic reason for existence of an organization. |
| (c) | Multidimensional | (iii) | Diverse individuals with different needs work together to fulfill the common organizational goal. |
| Different organisations have different goals. “Zeepo’ is an upcoming retail chain for providing consumer goods door-to-door, the objective of this organisation is to increase sales. 'Allie is an educational organisation working with an objective of providing education to under privileged children of the society. Management of each of these organisations unite the efforts of their employees towards achieving organisational goals. |
The characteristic of management discussed above is:
Assertion (A): Management is concerned with efficient use of resources.
Reasoning (R): For management both efficiency and effectiveness need to be balanced.
What function of management involves arranging resources and assigning chores in a family or organization?
