Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Nature and significance of Management

Question:

McDonalds, the fast food giant major changes in its menu to be able to survive in Indian market. Which feature of management is reflected in above case?

Options:

Management in an intangible force

Management is a dynamic function

Management is all pervasive

Management is multidimensional

Correct Answer:

Management is a dynamic function

Explanation:

The correct answer is option (2) : Management is a dynamic function.

* Management is a dynamic function: Management is a dynamic function and has to adapt itself to the changing environment. An organisation interacts with its external environment which consists of various social, economic and political factors. In order to be successful, an organisation must change itself and its goals according to the needs of the environment. You probably know that McDonalds, the fast food giant made major changes in its menu to be able to survive in the Indian market.

* Management is all pervasive: The activities involved in managing an enterprise are common to all organisations whether economic, social or political. A petrol pump needs to be managed as much as a hospital or a school.

* Management in an intangible force- Management is an intangible force that cannot be seen but its presence can be felt in the way the organisation functions. The effect of management is noticeable in an organisation where targets are met according to plans, employees are happy and satisfied, and there is orderliness instead of chaos.

* Management is multidimensional- Management is a complex activity that has three main dimensions. These are Management of work, Management of people, Management of operations.