Question : Which of the following statement is correct? Statement 1- The aim of both Henry and Taylor principal is to secure maximum from available resources. Statement 2- Taylor’s contribution is expressed as scientific management.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 2 is true and statement 1 is false.
Correct Answer: Both are true
Solution : The aim of both Henry and Taylor principal is to secure maximum from available resources. Taylor’s contribution is expressed as scientific management. Hence option A is correct .
Question : Statement 1: Top-level management is responsible for day-to-day operations.
Statement 2: Top-level management is responsible for setting organizational objectives and formulating policies.
Question : Statement 1: The Foreign Exchange Regulation Act (FERA) was enacted to regulate foreign trade in India.
Statement 2: FERA was replaced by the Foreign Exchange Management Act (FEMA) in 1991.
Question : Statement 1: Lower-level management is responsible for creating long-term strategic plans.
Statement 2: Lower-level management is responsible for overseeing day-to-day operations.
Question : Statement 1: The management principles used in multinational companies are the same as those used in domestic companies.
Statement 2: Multinational companies require different management principles due to their diverse operations.
Question : Which of the following statement is correct regarding the principles of management?
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