Business Management - Study Mode
[#126] Which of the following is the correct formula for calculating the direct group relations of 'span of control' as given by VA Graicunas?
Correct Answer
(A) $$r = nleft( {frac{{{2^n}}}{n} + left( {n - 1}
ight)}
ight)$$
[#127] According to American School of thought, the difference between administration and management is that
Correct Answer
(A) administration is largely deterministic while management is essentially executive
[#128] The primary function of management is
Correct Answer
(C) planning
Explanation
Solution: The primary function of management is planning. Planning is a primary function of management, hence it gets primary over other management functions. It is a continuous and never ending activity.
[#129] Consumers are satisfied through
Correct Answer
(B) innovation
Explanation
Solution: Consumers are satisfied through innovation. Innovation in its modern meaning is "a new idea, creative thoughts, new imaginations in form of device or method".
[#130] Men, Money Material and Machines are included in
Correct Answer
(B) resources
Explanation
Solution: Men, Money Material and Machines are included in resources. Resource management is the process by which businesses manage their various resources effectively. Those resources can be intangible – people and time – and tangible – equipment, materials, and finances. It involves planning so that the right resources are assigned to the right tasks.