Why mcqs of class 12 Business studies lesson 1 Nature and Significance of Management is important ?
- these mcqs are important because these questions cover a wide topic of the chapter
- mcqs are easy to understand
- mcqs break the big topic in some small topic so they are easy to learn
- they give a short revision at the time of class 12 Business studies exam
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CLASS 12 BUSINESS STUDIES
LESSON 1 NATURE AND SIGNIFICANCE OF MANAGEMENT
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Which is not a separate function of management out of the following?
Cooperating
Controlling
Planning
Staffing
Answer - A
Explanation - Cooperating is not a separate function of management. Cooperating means working together for a common purpose or benefits. Cooperation can be there in all the functions of management. But it can not be considered as a separate function of management.
According to the nature of management, Management can be considered as:
art
science
Neither science nor art
both art and science
Answer - D
Explanation - Management is considered both art and science because the practice of management is an art. However, managers can work better if their practice is based on the principles of management. These principles constitute the science of management.
Which is not an organisational/economic objective of management out of the following?
Providing employment
Earning Profits
Survival of the organisation
Growth of the organisation
Answer - A
Explanation - Providing employment to the disadvantaged sections of society which is a part of the social objective of management.
Policy formulation is the function of:
All of these
Middle level managers
Top level managers
Operational managers
Answer - C
Explanation - Top-level managers formulate the plan and policy for the overall organisation.
Coordination can be considered as:
An essence of management
An objective of management
A function of management
None of these
Answer - A
Explanation - Coordination neither a function nor an objective of management. Coordination is the force that binds all the other functions of management. Coordination is implicit and inherent in all functions of an organisation. Therefore, coordination is the essence of management.
A good manager synchronises all the activities of different departments through the process:
Supervision
Planning
Staffing
Coordination
Answer - D
Explanation - Coordination is the process by which a manager synchronises or binds all the activities of different department and all other functions of management.
Under which function of management, policies and strategies are formulated?
Controlling
Directing
Planning
Organising
Answer - C
Explanation - Policies and Strategies are formulated under the planning function of management.
Efficiency is concerned with:
Utilisation of minimum resources
Completion of task
Right man at right job
Cooperation
Answer - A
Explanation - Efficiency is concerned with complete the task with a minimum cost of resources by using less resources (i.e., the inputs) to derive more benefits (i.e., the outputs). Efficiency is also increased when for the same benefit or outputs, fewer (minimum) resources are used and less costs are incurred.
Middle-level management consists of:
President
Finance Manager
Supervisor
Chairman
Answer - B
Explanation - Middle-level management consists of divisional and departmental heads. The finance manager comes under middle-level management.
Who is responsible for the welfare and survival of an organisation?
Operational Management
Top Level Management
Middle level Management
None of these
Answer - B
Explanation - Top Level Management is responsible for the welfare and survival of an organisation because they are responsible for all the activities of the business and its impact on society.
Which of the following is not included in Top Level Management?
Chief Executive
Managing Director
Board of Directors
Accountant
Answer - D
Explanation - Top-level management consists of the senior-most executives of the organisation. They are usually referred to as the Chairman, Board of Directors, Managing Directors etc. An accountant is not a position of senior-most executive in an organisation.
Planning is concerned with especially:
Manpower Planning
None of these
Formulation of Policies and Strategies
Management in Action
Answer - C
Explanation - Planning is concerned with a special formulation of policies and strategies. Planning is concerned with deciding in advance what to do and how to do. Objectives, Strategies, Policies, Procedures, Methods, Rules, Programme and Budget are different types of the plan which are formulated in advance.
________ aims to help each other.
Staffing
Cooperation
Coordination
Planning
Answer - B
Explanation - Cooperation is an act of working or acting together for a common purpose for the benefit it aims to help each other. It is more or less active assistance from a person, organisation etc.
Marketing and Personnel Managers are part of ________.
Top Level Management
None of these
Operational Level Management
Middle Level Management
Answer - D
Explanation - Marketing and Personnel Managers are part of Middle-level Management because Middle-Level Management consists of departmental and divisional heads or managers. Marketing, Personnel, Finance, Production etc. are different departments in an organisation.
The work performed by Top Level Management is ________.
Concerned with control of operative employees
Oversee the efforts of workforce
Complex and Stressful
Easy
Answer - C
Explanation - The work performed by Top Level Management is complex and stressful because these top-level managers are responsible for the welfare and survival of the organisation. They are responsible for all the activities of the business and for its impact on society.
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