'Management has to adapt to the changes according to the need of time'. Identify the feature of management reflected in the above statement.

Dynamic function

The correct answer is option 4: 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.

Management is a dynamic function because it involves continuously responding and adapting to changes in the internal and external environment of the organization. The statement emphasizes the need for management to be flexible and responsive to changing circumstances, indicating that management practices and strategies must evolve over time to remain effective.