Question : Statement 1: Market control involves using market competition to regulate performance.
Statement 2: Market control is suitable for organizations with a hierarchical structure.
Option 1: Both correct.
Option 2: Both incorrect.
Option 3: Statement 1 correct, Statement 2 incorrect.
Option 4: Statement 2 incorrect, Statement 1 correct.
Correct Answer: Statement 1 correct, Statement 2 incorrect.
Solution : The correct answer is (c) Statement 1 correct, Statement 2 incorrect.
Statement 1 is correct. Market control is a mechanism that involves using market forces, competition, and customer demand to regulate an organization's performance. It relies on external market dynamics to influence an organization's behavior.
Statement 2 is incorrect. Market control is not inherently tied to a specific organizational structure, such as a hierarchical one. It can be applied in various types of organizational structures, depending on the industry and competitive environment. The suitability of market control is more related to the nature of the organization's products or services and the market in which it operates.
Question : Statement 1: Controlling involves setting performance standards.
Statement 2: Controlling involves evaluating employee performance.
Question : Statement 1: Decentralized control is suitable for small organizations with a centralized structure.
Statement 2: Decentralized control allows for greater autonomy and decision-making at lower levels.
Question : Which control technique involves using competition to regulate performance?
Question : Statement 1: Control charts are tools used for assessing employee performance.
Statement 2: Control charts help in monitoring and controlling processes.
Question : Statement 1: Controlling is primarily concerned with predicting future outcomes.
Statement 2: Controlling involves analyzing past performance to improve future results.
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