Question 1

Management is a creative and ________ process.

Accepted Answer

Management is a continuous process because it involves a series of actions and decisions that lead towards the achievement of organizational goals, and these activities are ongoing and unending.

Question 2

Which type of strategies do professional managers help organizations in chalking out?

Accepted Answer

Professional managers help organizations in developing corporate strategies, which involve long-term planning and decision-making to achieve organizational goals.

Question 3

Management exists at the ______ level of the organization.

Accepted Answer

Management exists at all levels of an organization, including lower, middle, and top levels, each with specific roles and responsibilities.

Question 4

Management is said to be the combination of

Accepted Answer

Management is considered a combination of arts, science, and profession because it involves creative practices (arts), systematic knowledge (science), and specialized skills and ethics (profession).

Question 5

______ is supposed to be immutable, unchanging and eternal.

Accepted Answer

The answer of ______ is supposed to be immutable, unchanging...

Question 6

Positive motivation makes people willing to do their work in the best way they can and improve their ________.

Accepted Answer

Performance is the correct answer because positive motivation encourages individuals to perform their tasks to the best of their abilities, leading to improved performance outcomes.

Question 7

The objective in corporate governance is

Accepted Answer

The objective in corporate governance encompasses shareholder value maximization, growth, and stability, aiming to balance these elements for the long-term success and sustainability of the corporation.

Question 8

The heart of administration is the _____ function.

Accepted Answer

Directing is considered the heart of administration because it involves leading, guiding, communicating, motivating, and supervising employees to achieve organizational goals.

Question 9

Direction is a ________ function performed by all the managers at all levels of the organization.

Accepted Answer

Direction is considered a managerial function, which involves guiding, instructing, and leading people in the organization to achieve its objectives.

Question 10

_______ is a tool for corporate governance.

Accepted Answer

Communication is a key tool for corporate governance as it ensures transparency, facilitates decision-making, and promotes accountability within an organization.

Question 11

The internal environment factor that influence management is

Accepted Answer

Labor, machines, and place are all internal factors that influence management decisions and operations within an organization. These elements are directly controllable by the organization.

Question 12

Management is said to be the combination of three factors, arts, science and the third is

Accepted Answer

Management is considered a profession in addition to being an art and a science. This is because it involves specialized knowledge, formal education and training, and adherence to a code of conduct, similar to other professions.

Question 13

One of the popular forecast is

Accepted Answer

Demand forecasting is a popular type of forecast used by businesses to predict future customer demand for products or services.

Question 14

Limitation of business planning is

Accepted Answer

Business planning can be time-consuming, often requires financial resources (making it an expensive endeavor), and can involve significant costs, including those for research, analysis, and implementation. Therefore, all the options listed are limitations of business planning.

Question 15

In management process, the most misinterpreted word is

Accepted Answer

The answer of In management process, the most misinterpreted word...

Question 16

Management as a discipline is the function of ____.

Accepted Answer

The answer of Management as a discipline is the function...

Question 17

The word _______ denotes a function, a task, a discipline.

Accepted Answer

Management is the correct term as it encompasses functions, tasks, and disciplines related to directing and controlling an organization or group of people.

Question 18

Costliness of the ________ is the overriding factor determining the extent of decentralization.

Accepted Answer

The costliness of the decision is the overriding factor determining the extent of decentralization because more critical or expensive decisions tend to be centralized to ensure they align with the organization's overall strategy and to manage risks effectively.

Question 19

______ is a tool for corporate governance.

Accepted Answer

The answer of ______ is a tool for corporate governance.
...

Question 20

The higher the ________ level of the employee, the lower the job satisfaction.

Accepted Answer

Higher educational levels can sometimes lead to mismatched job roles or unmet expectations, which can decrease job satisfaction.

Quiz 2: Management, Economics and Corporate Governance