Question : Statement 1: The success of management depends solely on external factors such as the economy and market conditions.
Statement 2: The success of management depends on both internal and external factors.
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 success of management is not solely dependent on external factors like the economy and market conditions. Internal factors, such as effective leadership, organizational culture, strategic decision-making, and the efficient use of resources, also play a significant role in determining the success of management.
Statement 2 is true because the success of management depends on both internal and external factors. Effective management takes into account a combination of factors, including the organization's internal capabilities and external environmental conditions, to make strategic decisions and achieve its objectives.
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