Business Studies Quiz - Nature and Significance of Management
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1. What is the primary objective of management?
Maximizing profits · Ensuring employee satisfaction · Achieving organizational goals · Minimizing costs
2. Which of the following is NOT a characteristic of management?
Goal-oriented · Universal process · Static in nature · Multidisciplinary
3. Management is considered a process because it involves:
Only planning and organizing · A series of interrelated functions · Only controlling and directing · Setting up a business
4. Which function of management is primarily concerned with measuring performance?
Planning · Organizing · Controlling · Staffing
5. The significance of management includes:
Increased competition · Effective resource utilization · Higher employee turnover · Reduced market share
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