Question
Delegation is considered as an important principle in
management. It is a part of the _______ management function Refer to the following information to answer the next 4 questions Management has been described as a social process involving responsibility for economical and effective planning and regulation of operation of an enterprise in the fulfillment of given purposes. It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are common to each and every manger irrespective of his level or status. Different experts have classified functions of management. According to George & Jerry, “There are four fundamental functions of management i.e. planning, organizing, actuating and controlling”. According to Henry Fayol, “To manage is to forecast and plan, to organize, to command, & to control”. Whereas Luther Gullick has given a keyword ’POSDCORB’ where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting. But the most widely accepted are functions of management given by KOONTZ and O’DONNEL i.e. Planning, Organizing, Staffing, Directing and Controlling. Source: www.managementstudyguide.comSolution
Organizing is the process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals. According to Henry Fayol, “To organize a business is to provide it with everything useful or its functioning i.e. raw material, tools, capital and personnel’s”. To organize a business involves determining & providing human and non-human resources to the organizational structure. Organizing as a process involves:
- Identification of activities.
- Classification of grouping of activities.
- Assignment of duties.
- Delegation of authority and creation of responsibility.
- Coordinating authority and responsibility relationships.
The Stolper-Samuelson theorem is a result in international trade theory. According to this theorem, an increase in the price of a good will:
According to the Economic Survey 2023-24, what measures helped reduce core inflation in India to a four-year low in FY24?
The profit-maximizing monopolist will choose the price and quantity represented by point
Which of the following statements about graphs of short-run cost curves is false?
In the Mundell-Fleming model with a floating exchange rate and perfect capital mobility, what is the effect of an increase in the money supply?
An increase in the expected rate of inflation
Consider an economy described by the following equations:
C = 100 + 0.6 ∗ (Y − T) (consumption function)
“ All Giffen goods are inferior, but all inferior goods are not Giffen”. The statement is