Question : Which of the following is a primary objective of management?
Option 1: Maximizing profits
Option 2: Minimizing costs
Option 3: Ensuring employee satisfaction
Option 4: Achieving work-life balance
Correct Answer: Maximizing profits
Solution : The correct answer is (a) Maximizing profits
Maximizing profits is a primary objective of management, especially in the context of for-profit organizations. Management aims to optimize the financial performance of the organization by increasing revenues, controlling costs, and improving efficiency. Maximizing profits enables the organization to generate resources for growth, investment, and sustainability. While other objectives, such as minimizing costs, ensuring employee satisfaction, and achieving work-life balance, are also important considerations for management, maximizing profits is a fundamental objective that ensures the organization's long-term viability and success.
Question : Which objective of management focuses on creating a positive work environment?
Option 1: Economic objective
Option 2: Social objective
Option 3: Organizational objective
Option 4: Personal objective
Question : The technique of scientific management focuses on:
Option 1: Enhancing employee creativity
Option 2: Maximizing organizational profits
Option 3: Optimizing work processes for efficiency
Option 4: Minimizing employee workload
Question : Case Study: XYZ Corporation
XYZ Corporation is a manufacturing company known for producing high-quality electronic devices. It is divided into three levels of management: top management, middle-level management, and lower-level management. The company's main objective is to expand its market reach and maintain a strong reputation for innovation and customer satisfaction.
XYZ Corporation's management team focuses on creating a positive work environment and ensuring employee well-being. This reflects which objective of management?
The primary objective of XYZ Corporation is to:
Option 1: Maximize profits
Option 2: Increase market share
Option 3: Deliver innovative products and excellent customer service
Option 4: Achieve work-life balance for employees
Question : Case Study : Incentives and Employee Satisfaction at LMN Corp
LMN Corp values employee satisfaction and offers a variety of incentives. Consider the following scenario to answer the questions.
Question :
The management at LMN Corp recognizes that fulfilling self-actualization needs involves:
Option 1: Offering health benefits
Option 2: Providing flexible work arrangements
Option 3: Encouraging skill development and growth
Option 4: Implementing strict performance evaluations
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