Question : Statement 1: The management process involves dealing with uncertainties and risks.
Statement 2: Managers need to make decisions based on incomplete information.
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: Both statements are true
Solution : The correct answer is (a) Both statements are true.
Statement 1 is true because the management process often involves dealing with uncertainties and risks. Managers must navigate a dynamic business environment and make decisions to address uncertainties and mitigate risks.
Statement 2 is also true because managers frequently need to make decisions based on incomplete information. In real-world scenarios, managers often have to work with the information available at the time and make decisions despite not having all the facts.
Question : Statement 1: Effective management involves a top-down approach, where decisions flow from top-level management to lower levels.
Statement 2: Top-level managers have the most experience and knowledge to make crucial decisions.
Question : Statement 1: Management involves the application of skills, knowledge, and creativity.
Statement 2: Management involves the implementation of predefined procedures and guidelines.
Question : Statement 1: Lower-level management has the authority to make strategic decisions.
Statement 2: Lower-level management implements the decisions made by top-level management.
Question : Statement 1: Management is an art.
Statement 2: Management involves the application of scientific principles to achieve objectives.
Question : Statement 1: The management process is continuous and ongoing.
Statement 2: It involves a series of interconnected functions that are performed repeatedly.
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