Question : Statement 1: Management is considered a profession.
Statement 2: It requires specialized knowledge, skills, and ethical standards.
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 true, and Statement 2 is false.
Solution : The correct answer is (c) Statement 1 is true, and Statement 2 is false.
Statement 1 is true because management is often considered a field of study and practice. However, it is not universally considered a "profession" in the same way as fields like medicine or law.
Statement 2 is false because while management does require specialized knowledge and skills, it does not have the same standardized ethical and licensing requirements that are characteristic of traditional professions like medicine or law. There are ethical standards in management, but they are not as standardized and regulated as in some professions.
Question : Statement 1: The management process is continuous and ongoing.
Statement 2: It involves a series of interconnected functions that are performed repeatedly.
Question : Statement 1: Effective management can lead to a competitive advantage for an organization.
Statement 2: It helps in delivering products and services more efficiently than competitors.
Question : Assertion: Management is considered a profession.
Reason: It requires specialized knowledge, skills, and ethical standards.
Question : Assertion: Management is considered an art.
Reason: It requires the application of skills, knowledge, and creativity to achieve organizational goals.
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