Business Studies

Nature and Significance of Management

Question:

Define management.

Answer:

Management is defined as a process of getting things done with the aim of achieving goals effectively and efficiently.
or
It is a process of designing and maintaining an environment in which individuals working in groups, can achieve selected objectives efficiently and effectively.

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Nature and Significance of Management

Q 1.

Name any two important characteristics of management.

Q 2.

Ritu is the manager of the Northern division of a large corporate house. At what level does she work in the organisation? What are her basic functions?

Q 3.

Why is management considered a multi-faceted concept?

Q 4.

“A successful enterprise has to achieve its goals effectively and efficiently” Explain.

Q 5.

Define management.

Q 6.

Co-ordination is the essence of management. Do you agree? Give reasons.

Q 7.

Management is a series of continuous inter-related functions. Comment.

Q 8.

Management is considered to be both an art and science. Explain.

Q 9.

Discuss the basic features of management as a profession.

Q 10.

Do you think management has the characteristics of a full fledged profession?