Consider the following facts about management.

A. Efficiency and effectiveness both terms have similar meaning
B. Effectiveness and efficiency both terms do not have similar meaning
C. Management has four dimensions
D. Management has three dimensions
E. Principles of management are not as exact as the Principles of Science

Choose the correct answer from the options given below.

B, D, E only

The correct answer is Option (3) - B, D, E only.

A. Efficiency and effectiveness both terms have similar meaning- This statement is false. Effectiveness in management is concerned with doing the right task, completing activities and achieving goals whereas Efficiency means doing the task correctly and with minimum cost. There is a kind of cost-benefit analysis involved and the relationship between inputs and outputs. If by using less resources (i.e., the inputs) more benefits are derived (i.e., the outputs) then efficiency has increased.

B. Effectiveness and efficiency both terms do not have similar meaning- This statement is true. Effectiveness in management is concerned with doing the right task, completing activities and achieving goals whereas Efficiency means doing the task correctly and with minimum cost. There is a kind of cost-benefit analysis involved and the relationship between inputs and outputs. If by using less resources (i.e., the inputs) more benefits are derived (i.e., the outputs) then efficiency has increased.

C. Management has four dimensions- This statement is false. Management is a complex activity that has three main dimensions not four. These  three dimension are:
* Management of work: All organisations exist for the performance of some work. In a factory, a product is manufactured, in a garment store a customer’s need is satisfied and in a hospital a patient is treated. Management translates this work in terms of goals to be achieved and assigns the means to achieve it. This is done in terms of problems to be solved, decisions to be made, plans to be established, budgets to be prepared, responsibilities to be assigned and authority to be delegated.
* Management of people: Human resources or people are an organisation’s greatest asset. Despite all developments in technology “getting work done through people” is still a major task for the manager.
* Management of operations: No matter what the organisation, it has some basic product or service to provide in order to survive. This requires a production process which entails the flow of input material and the technology for transforming this input into the desired output for consumption. This is interlinked with both the management of work and the management of people.

D. Management has three dimensions- This statement is true. Management is a complex activity that has three main dimensions. These are:
* Management of work: All organisations exist for the performance of some work. In a factory, a product is manufactured, in a garment store a customer’s need is satisfied and in a hospital a patient is treated. Management translates this work in terms of goals to be achieved and assigns the means to achieve it. This is done in terms of problems to be solved, decisions to be made, plans to be established, budgets to be prepared, responsibilities to be assigned and authority to be delegated.
* Management of people: Human resources or people are an organisation’s greatest asset. Despite all developments in technology “getting work done through people” is still a major task for the manager.
* Management of operations: No matter what the organisation, it has some basic product or service to provide in order to survive. This requires a production process which entails the flow of input material and the technology for transforming this input into the desired output for consumption. This is interlinked with both the management of work and the management of people.

E. Principles of management are not as exact as the Principles of Science- This statement is true. The principles of management are not as exact as the principles of science, their application and use is not universal. They have to be modified according to a given situation. However, they provide managers with certain standardised techniques that can be used in different situations. These principles are also used for training and development of managers.