Question : Shreshtha Limited has been awarded recently with the Best Employer of the Year Award. The company has believed in the ideas and suggestions of its employees. There is selective disposal of decision making authority at all levels. There is no delay in delivery of orders to customers due to prompt decisions taken by employers. Identify the concept of management followed by the company.

Option 1: Authority

Option 2: Repsonsibility

Option 3: Delegation

Option 4: Decentralisation

Question : The principles of management provide:

Option 1: A standardized approach to decision-making

Option 2: Flexibility in decision-making

Option 3: Ethical guidelines for organizations

Option 4: Industry-specific strategies

Question : The principles of management provide:

Option 1: A standardized approach to decision-making

Option 2: Flexibility in decision-making

Option 3: Ethical guidelines for organizations

Option 4: Industry-specific strategies

Question : Statement 1: Lower-level management has limited decision-making authority.

Statement 2: Lower-level management implements the decisions made by top management and follows specific guidelines.

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.

Question : One way to think of the management hierarchy is as a chain of communication. The highest management makes all decisions in an organisation, therefore information moves slowly because it must pass through multiple levels. Response time is also a factor. This slows down decision-making and makes it challenging for an organisation to adjust to changing operating conditions.

Option 1: Centralised

Option 2: Decentralised

Option 3: Large

Option 4: Small