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Nature And Significance Of Management

Question

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Hero Ltd.'s target is to produce 20,000 shirts per month at a cost of 150 per shirt.The production Manager could achieve this target at a cost of 170 per shirt. Doyou think the Production manager is 'efficient'? Give reason in support of youranswer.

Solution

No, the production manager is not 'efficient' because he had achieved the target but not incost-effective manner.

Some More Questions From Nature and Significance of Management Chapter

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.

State any two characteristics of management.

What is meant by Management?

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