Question : Statement 1: The nature of management remains constant across different industries.
Statement 2: Different industries require different management approaches.
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 false, and Statement 2 is true.
Solution : The correct answer is (d) Statement 1 is false, and Statement 2 is true.
Statement 1 is false because the nature of management can vary across different industries and organizations. While there are general management principles and practices, the specific challenges, objectives, and approaches in management may differ based on the industry, the organization's size, its culture, and other factors.
Statement 2 is true because different industries often require different management approaches to address the unique needs, challenges, and regulatory requirements that each industry presents. Managers may need to adapt their practices and strategies to align with the specific context of the industry in which they work.
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