Unit 1: Management Process Short Questions
Unit: 1 Management Process
Fill in the blanks
Q 1: A business is an organization that makes _______ using economic resources to provide goods and services to customers.
Answer: profit
Q 2: Management is a process of planning, decision making, organizing, leading, motivation, and controlling the _______ resources, financial resources, and information resources of an organization to reach its goals efficiently and effectively.
Answer: human
Q 3: The most important four functions of management are ________, organizing, directing, and controlling.
Answer: planning
Q 4: ______ is the determination of the course of actions to achieve desired goals.
Answer: Planning
Q 5: Service business provides products without any ________ form.
Answer: physical
Q 6: ________ or, Merchandising business organization buys goods/products at wholesale price and sells them at retail price.
Answer: Trading
Q 7: A ________ business means a business organization that provides product/goods, service, and merchandising to the end customers.
Answer: hybrid
Q 8: The process of manufacturing a new product is called “________ process” in engineering.
Answer: production
Q 9: MRP means ________ Retail Price.
Answer: Maximum
Q 10: Planning is necessary to ensure proper utilization of ________ of an organization.
Answer: resources
Q 11: Management is all about optimum uses of ________ resources.
Answer: finite
Q 12: Every business wants to grow because growth means increased sales, increased profits, market share, increased demand, etc. Therefore, management has to plan for ________.
Answer: growth
Q 13: Social objectives of management include providing employment opportunities, producing quality goods and services, and paying ________ on time to the government.
Answer: taxes
Q 14: To maintain a good public image, management should develop good ________ activities.
Answer: public relations
Q 15: Henry Fayol is known as the ‘father of modern management theory’ and introduced a general theory that can be applied to all levels of ________.
Answer: management
Q 16: According to Fayol, the principle of ________ means that an employee should have only one boss and follow his command.
Answer: Unity of Command
Q 17: The principle of ________ involves treating all employees equally and respectfully, ensuring no discrimination in the organization.
Answer: Equity
Q 18: Frederick Winslow Taylor developed the management theory known as ________ management, which analyzes workflows to improve economic efficiency.
Answer: scientific
Q 19: Taylor’s principle of ‘Science, Not Rule of Thumb’ focuses on increasing efficiency through scientific analysis of work rather than using the ________ method.
Answer: Rule of Thumb
Q 20: The principle of ‘Mental Revolution’ by Taylor emphasizes the importance of changing the ________ of management and workers towards each other.
Answer: attitude
Multiple Choice Questions
Q 1: What is a business?
- An organization that operates without any economic resources
- An organization that makes a profit using economic resources to provide goods and services to customers
- An organization that provides only services to the customers
- An organization that focuses solely on non-profit activities
Answer: 2
Q 2: Which of the following is NOT a function of management?
- Planning
- Organizing
- Directing
- Marketing
Answer: 4
Q 3: What is the primary focus of planning in management?
- Monitoring employee performance
- Determining the course of actions to achieve desired goals
- Organizing resources for efficient operations
- Providing services to customers
Answer: 2
Q 4: What does organizing involve in the context of management?
- Making future plans for the organization
- Establishing internal processes and structures
- Monitoring the quality of work
- Providing expert advice to customers
Answer: 2
Q 5: Which of the following best describes a service business?
- A business that manufactures physical products
- A business that provides products without any physical form
- A business that buys goods at wholesale prices and sells them at retail prices
- A business that combines manufacturing, merchandising, and service provision
Answer: 2
Q 6: What type of business would a company like Tata Motors fall under?
- Manufacturing Business
- Service Business
- Trading Business
- Hybrid Business
Answer: 1
Q 7: Which of the following is an example of a hybrid business?
- A bank providing financial services
- A furniture store selling chairs and tables
- A restaurant that sells meals, cold drinks, and provides a dining venue
- A law firm offering legal advice
Answer: 3
Q 8: What is the primary function of directing in management?
- Organizing resources efficiently
- Monitoring employee performance
- Setting goals and leading the team
- Planning the future course of action
Answer: 3
Q 9: Which term refers to the cost of operating a factory or plant for manufacturing?
- Office Overhead
- Factory Overhead
- Retail Price
- Maximum Retail Price
Answer: 2
Q 10: What type of business is characterized by buying goods/products at wholesale prices and selling them at retail prices?
- Service Business
- Manufacturing Business
- Trading or Merchandising Business
- Hybrid Business
Answer: 3
Q 11: What is the primary objective of management for a business to survive?
- To ensure growth and expansion
- To earn profit at least equal to its cost of capital
- To provide quality goods and services
- To maintain good public relations
Answer: 2
Q 12: Which of the following is NOT a social objective of management?
- Providing employment opportunities
- Producing quality goods and services
- Paying taxes on time
- Maximizing profits
Answer: 4
Q 13: Developing good public relations activities helps in enhancing what for a business?
- Product quality
- Employee satisfaction
- Public image and goodwill
- Operational efficiency
Answer: 3
Q 14: Human Resource Management (HRM) focuses on managing the human element of the enterprise considering their resourcefulness in terms of knowledge, skills, creative abilities, talents, aptitudes, and ________.
- Education
- Potentialities
- Experience
- Performance
Answer: 2
Q 15: Materials Management involves planning, directing, controlling, and coordinating activities concerned with ________.
- Financial requirements
- Customer service
- Marketing strategies
- Materials and inventory requirements
Answer: 4
Q 16: Financial management deals with the procurement and utilization of ________ in the proper manner.
- Resources
- Materials
- Funds
- Information
Answer: 3
Q 17: Production management involves the application of management principles to the ________ process.
- Financial
- Marketing
- Production
- Sales
Answer: 3
Q 18: Who is known as the ‘father of modern management theory’?
- Frederick Winslow Taylor
- Peter Drucker
- Henry Fayol
- Elton Mayo
Answer: 3 Henry Fayol
Q 19: According to Fayol, which principle means that an employee should have only one boss and follow his command?
- Unity of Direction
- Division of Work
- Unity of Command
- Subordination of Individual Interest
Answer: 3
Q 20: The principle of ________ involves treating all employees equally and respectfully, ensuring no discrimination in the organization.
- Equity
- Stability
- Order
- Initiative
Answer: 1
Q 21: Frederick Winslow Taylor developed which management theory?
- Administrative Management
- Human Relations Management
- Bureaucratic Management
- Scientific Management
Answer: 4
Q 22: Taylor’s principle of ‘Science, Not Rule of Thumb’ focuses on increasing efficiency through ________.
- Managerial discretion
- Scientific analysis of work
- Employee intuition
- Rule of Thumb methods
Answer: 2
Q 23: Taylor’s principle of ‘Mental Revolution’ emphasizes the importance of changing the ________ of management and workers towards each other.
- Responsibilities
- Attitude
- Work processes
- Goals
Answer: 2
Q 24: Taylor’s principle of ‘Development of Every Person to his Greatest Efficiency’ highlights the importance of proper ________ and training to enhance employees’ skills and abilities.
- Selection
- Evaluation
- Compensation
- Motivation
Answer: 1