Question : Statement 1: The management principles used in a manufacturing company may not apply to a service-based organization.
Statement 2: The management principles used in a manufacturing company are applicable to all types of organizations.
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: Statement 1 is true, and Statement 2 is false.
Solution : The correct answer is (c) Statement 1 is true, and Statement 2 is false.
Statement 1 is true because the management principles used in a manufacturing company may not directly apply to a service-based organization. Manufacturing and service industries have distinct characteristics, and while some management principles can be applicable to both, there are often significant differences in how those principles are implemented in each context.
Statement 2 is false because the management principles used in a manufacturing company are not universally applicable to all types of organizations. The nature of an organization's operations and its specific industry can impact which management principles are most relevant and effective. Different types of organizations may require unique management approaches to address their specific needs and challenges.
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