Question : Statement 1: Management is a universal concept.
Statement 2: Management principles are specific to each organization and cannot be applied universally.
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 management is considered a universal concept in the sense that it involves fundamental principles and practices that are applicable in various organizations and contexts.
Statement 2 is also true because while there are universal management principles, the specific application of these principles can vary from one organization to another. Organizations may adapt and customize management practices to suit their unique needs and circumstances, so there can be variations in how management principles are applied.
