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Question
What is meant by 'Management'?
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Solution
Management is the function of an organisation which is primarily responsible for achieving its desired goals in a given period of time in a time- and cost-efficient manner.
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Management is a/an ______ process as it is an ongoing and never-ending process.
Match the CHARACTERISTICS of management in Column I with their correct EXPLANATIONS in Column II :
| Column I | Column II | |
| (i) | Goal-oriented process | Management is a complex activity involving management of people, work and operations. |
| (ii) | Group activity | Some aims and objectives are the basic reason for existence of an organisation. |
| (iii) | Multi-dimensional | Diverse individuals with different needs work together to fulfill the common organisational goal. |
Assertion (A): Management is concerned with efficient use of resources.
Reasoning (R): For management both efficiency and effectiveness need to be balanced.
|
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- Identify and state the organisational structure adopted by the company.
- State two benefits and two limitations of the identified structure highlighted in the above case.
What function of management involves arranging resources and assigning chores in a family or organization?
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