Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Nature and significance of Management

Question:

Match the following

LIST I LIST II
A) Organising                           I) Essence of management
B) Coordination II) Assigning duties
C) Protection of environment III) Personnel objectives of management
D) Competitive salary and perks IV) Social objectives of management
Options:

A-II, B-I, C-III, D-IV

A-I, B-II, C-IV, D-III

A-I, B-II, C-III, D-IV

A-II, B-I, C-IV, D-III

Correct Answer:

A-II, B-I, C-IV, D-III

Explanation:

A) Organising is the management function of assigning duties, grouping tasks, establishing authority and allocating resources required to carry out a specific plan. Once a specific plan has been established for the accomplishment of an organisational goal, the organising function examines the activities and resources required to implement the plan.

B) Coordination is sometimes considered a separate function of management. It is however, the essence of management, for achieving harmony among individual efforts towards the accomplishment of group goals. Each managerial function is an exercise contributing individually to coordination. Coordination is implicit and inherent in all functions of an organisation.

C) Protection of environment- Social objectives involves the creation of benefit for society. As a part of society, every organisation whether it is business or non-business, has a social obligation to fulfill. This refers to consistently creating economic value for various constituents of society. This includes using environmental friendly methods of production, giving employment opportunities to the underpreviledged sections of society and providing basic amenities like schools and healthcare, etc., for community. The box given below illustrates how a company can fulfill its social responsibility.

D) Competitive salary and perks- This is a personnel objectives. Organisations are made up of people who have different personalities, backgrounds, experiences and objectives. They all become part of the organisation to satisfy their diverse needs. These vary from financial needs such as competitive salaries and perks, social needs such as peer recognition and higher level needs such as personal growth and development. Management has to reconcile personal goals with organisational objectives for harmony in the organisation.