Question : Statement 1: The primary objective of management is to maximize profits.
Statement 2: The primary objective of management is to achieve organizational goals efficiently.
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 while profit maximization is an important goal for many businesses, it is not the primary objective of management for all organizations. The primary objective of management is to achieve organizational goals efficiently, which can include various goals such as profit, growth, sustainability, social responsibility, and more. The specific goals of an organization can vary depending on its nature and mission.
