Question : Statement 1: The primary objective of management is to maximize profits.
Statement 2: The primary objective of management is to achieve organizational goals efficiently.
Option 1: Both statements are true
Option 2: Both are incorrect
Option 3: Statement 1 is true, and Statement 2 is false.
Option 4: Statement 1 is false, and Statement 2 is true.
Correct Answer: Statement 1 is false, and Statement 2 is true.
Solution : The correct answer is (d) Statement 1 is false, and Statement 2 is true.
Statement 1 is false because while profit maximization is an important goal for many businesses, it is not the primary objective of management for all organizations. The primary objective of management is to achieve organizational goals efficiently, which can include various goals such as profit, growth, sustainability, social responsibility, and more. The specific goals of an organization can vary depending on its nature and mission.
Question : Statement 1: Effective leadership is essential for successful management.
Statement 2: Leaders inspire and motivate employees to achieve organizational goals.
Question : Statement 1: The management principles of planning, organizing, leading, and controlling are interrelated and interdependent.
Statement 2: Each function supports and complements the others to achieve organizational goals.
Question : Statement 1: Management is the process of achieving organizational goals.
Statement 2: Management is limited to profit-oriented organizations.
Question : Statement 1: The management principles used in the public sector can also be applied in the nonprofit sector.
Statement 2: Both sectors have similar organizational structures and goals.
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