Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Nature and significance of Management

Question:

'In order to be successful, an organisation must change itself and its goals according to the needs of the environment'

Which feature of management is highlighted here?

Options:

Management is a continuous process

Management is a dynamic function

Management is a goal-oriented process

Management is an intangible force

Correct Answer:

Management is a dynamic function

Explanation:

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.