Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Nature and significance of Management

Question:

Management is said to be poor if it is:

Options:

Efficient but ineffective

Effective but inefficient

Both inefficient and ineffective

All of the above

Correct Answer:

Both inefficient and ineffective

Explanation:

Management aims at guiding their efforts towards achieving a common objective — a goal. Thus, management has to see that tasks are completed and goals are achieved (i.e., effectiveness) with the least amount of resources at a minimum cost (i.e., efficiency). It is important for management to achieve goals (effectiveness) with minimum resources i.e., as efficiently as possible while maintaining a balance between effectiveness and efficiency. Usually high efficiency is associated with high effectiveness which is the aim of all managers. But undue emphasis on high efficiency without being effective is also not desirable. Poor management is due to both inefficiency and ineffectiveness.