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Home Questions WGMTNQCQ53
Target Exam

CUET

Subject

Business Studies

Chapter

Nature and significance of Management

Question:

Match the following:

1. North-east women entrepreneur  A. Cost-benefit analysis
2. Efficiency B. Goal oriented
3. Effectiveness  C. Candles
4. Characteristic of management D. Completing task
Options:

1-B, 2-A, 3-D, 4-C

1-C, 2-A, 3-D, 4-B

1-A, 2-C, 3-D, 4-B

1-D, 2-C, 3-A, 4-B

Correct Answer:

1-C, 2-A, 3-D, 4-B

Explanation:

* Namchi Designer Candles has been receiving numerous awards such as Northeast Women Entrepreneur of the year 2015-2016 for Sikkim and Sreemanta Shankar Mission of Guwahati on 26th April 2018 at New Delhi.

* 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.

* Being effective or doing work effectively basically means finishing the given task. Effectiveness in management is concerned with doing the right task, completing activities and achieving goals. In other words, it is concerned with the end result.

* Characteristics of management includes: Goal oriented, pervasive, multi-dimensional, continuous process, group activity etc.

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