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Nature and Significance of Management
Question
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Volvo Ltd.'s target is to produce 10,000 shirts per month at a cost of ? 100/- pershirt. The Production Manager achieved this target at a cost of ? 90/- per shirt. Doyou think the ‘Production Manager’ is effective? Give one reason in support of youranswer.

Answer

Yes, because he has achieved the target.

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Some More Questions From Nature and Significance of Management Chapter

Define management.

Clarify the following equation: Anything - Management = Zero.

Explain, in brief, ‘management’ as an activity.

Explain, in brief, ‘management’ as a process. 

How is Management a 'Goal Oriented Process'?

Management is not visible, it can only be felt. Explain.

How is management a Continuous Process?

Explain, in brief, management as a 'Dynamic Function'.

Explain 'Management of people' as a dimension of management.

Explain in brief, 'management' as a group of people having managerial responsibilityfor an enterprise.