Important Short Questions and Answers: Principles of Management

1.  What is Management?

Management is the process of planning, Organizing, Directing, Staffing and controlling the various activities of the people to achieve the objectives of an organization.

2.  Define Management.

“Management is the process of designing and maintaining of an environment in which individuals working together in groups efficiently accomplish selected aims”.

3.  Write some characteristics of Management?

Management is a continuous process. Manager use the resources of organization both physical as well as human achieve the goal. Management aims act achieving the organization goals by ensuring effective use of resources.

4.  Write any two points favor for management as a science

Management principle should be verified. Reliable basis for predicting future.

5.  What is time study?

The movement which take minimum time is the best one.

6.  What is motion study?

Taylor suggested that the eliminating wasteful movements and performing only necessary movement.

7.  What is authority?

It is the power given to a person to get work from his subordinates.

8.  What is responsibility?

It is the amount of work from a man by his superior.

9.  Comment: Management is both –A science and an art

Management is a science because it contains general principles. It is also an art because it requires certain personal skills achieve desired result.

10. What is centralization?

The organization is centralized when the power is concentrated with one person.

11. What is decentralization?

If the power is fully distributed to the subordinates of the organization.

12. What is Esprit-de-corps?

This means union is strength. In organization employees should be harmony and unity.

13. What are the various levels of management?

1)Top level management. 

2)Middle level management. 

3)lower level management.

14. Write some important functions of top level management? 

1)To formulate goals and policies of the company. 

2)To formulate budgets.

3)To appoint top executives.

15. Write the functions of management?

         Planning.

         Organizing.

         Staffing.

         coordinating.

         controlling.

16. Define sole proprietorship?

The sole proprietorship is that form of business organization which owned and controlled by a single individual.

17. What is partnership?

A partnership is an association of two or more persons to carry on business and to share its profit and losses in an agreed ratio.

18. What is joint stock company?

Joint stock company is association of many persons who contribute money worth to common stock and explaining source trade and also share the profit and losses.

19. What is private limited company?

A private limited company is a company which has a minimum paid up capital dory be prescribed.

20. White is a co-operative society?

It is a voluntary association of persons for mutual benefit and it aims are accomplished through self heap and collective effort.

21. What is a social responsibility?

Society is the part of the management to interact actions wither to protect social interest a society.