3 Views

Question : The nature of management is influenced by:

Option 1: Government policies
   

Option 2: Economic conditions
  

Option 3: Technological advancements

 

Option 4: All of the above


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: All of the above


Solution : The correct answer is (d) All of the above

Management is not isolated from external factors, and it is shaped by various influences, including government policies, economic conditions, and technological advancements. Let's briefly discuss each of these influences:

Government policies: The policies and regulations set by governments can have a significant impact on how organizations operate and how managers make decisions. Government policies related to taxation, labor laws, environmental regulations, and industry-specific regulations can shape the overall business environment and influence management practices.

Economic conditions: The state of the economy, including factors such as inflation, interest rates, market trends, and consumer behavior, affects how organizations operate and make decisions. Economic conditions can impact management strategies, resource allocation, financial planning, and overall business performance.

Technological advancements: Advances in technology have a profound impact on how organizations function and how managers carry out their roles. Technological innovations can change business processes, communication methods, data management, and customer interactions. Managers need to adapt to these technological advancements and leverage them to improve productivity, efficiency, and competitiveness.

Therefore, all three factors (government policies, economic conditions, and technological advancements) influence the nature of management in the modern business world.

Related Questions

UPES Integrated LLB Admission...
Apply
Ranked #28 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS University Rankings | 16.6 LPA Highest CTC
SLAT 2025 - The Symbiosis Law...
Apply
Conducted by Symbiosis International (Deemed University) | Ranked #5 in Law by NIRF | Ranked #2 among best Pvt Universities by QS World Rankings
Jindal Global Law School Admi...
Apply
Ranked #1 Law School in India & South Asia by QS- World University Rankings | Merit cum means scholarships
Symbiosis Law School Pune Adm...
Apply
NAAC A++ Accredited | Ranked #5 by NIRF
Nirma University Law Admissio...
Apply
Grade 'A+' accredited by NAAC
ISBR Business School PGDM Adm...
Apply
180+ Companies | Highest CTC 15 LPA | Average CTC 7.5 LPA | Ranked as Platinum Institute by AICTE for 6 years in a row | Awarded Best Business Scho...
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books