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Question : Which objective of management focuses on the efficient use of resources?

Option 1: Economic objective
  

Option 2: Social objective
  

Option 3: Organizational objective

 

Option 4: Personal objective


Team Careers360 5th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: Economic objective


Solution : The correct answer is (a) Economic objective

The economic objective of management emphasizes the efficient utilization of resources to achieve organizational goals. This objective involves optimizing the use of financial, physical, and human resources in a way that maximizes productivity and minimizes waste. Managers strive to allocate resources effectively, streamline processes, reduce costs, and improve efficiency in order to enhance the organization's financial performance. By focusing on the economic objective, management aims to achieve sustainable growth, profitability, and long-term success. Therefore, the efficient use of resources aligns with the economic objective of management.

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