Question
Which function of management involves defining goals for
the company’s future direction and determining the missions and resources required to achieve those targets?Solution
Planning is the fundamental function of management that focuses on the future course of action. It involves: • Defining objectives and goals, • Identifying the resources needed, • Deciding how, when, and by whom tasks will be performed. Planning is often referred to as the bridge between the present and the future, ensuring that an organization moves systematically towards its objectives. It is a preparatory step that lays the foundation for all other functions of management (organising, staffing, directing, and controlling). By anticipating changes and challenges, planning enables managers to reduce uncertainty and achieve desired results.
When a firm’s decision to produce decreases the wellbeing of others, but the firm does not compensate those others. It is a case of______.
...If a constant 60 is subtracted from each of the values of X and Y, then the regression coefficient is
Which of the following is a correct grouping of dimensions and indicators used in NITI Aayog’s Multidimensional Poverty Index (MPI)?
In an oligopoly, firms consider the reactions of rival firms before changing their output or price. This is known as:
Refer the following table. How many students scored up to 40 marks?
Which of the following is a property of a normal distribution?
What do you mean by ‘under conditions of a perfect competition in the product market’?
If elasticity is ‘e’, and price of the product is B, MR=?
On a graph for a monopolist or monopolistic competitor, which of the following curves coincide?
Objective function was given as Z= 4X+5Y. Four extreme points were given as (0,4), (5,0), (3,3), (3,4). Find at which point function is maximized.
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