New IFSCA Phase 1 Results Out - Enroll Here for Phase 2

    Register

    Question

    Read the following passage and answer the next 3 question (Q24-Q26) Management has been described as a social process involving responsibility for economical and effective planning and regulation of operation of an enterprise in the fulfillment of given purposes. It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are common to each and every manger irrespective of his level or status. Different experts have classified functions of management. According to George & Jerry, “There are four fundamental functions of management i.e. planning, organizing, actuating and controlling”. According to Henry Fayol, “To manage is to forecast and plan, to organize, to command, & to control”. Whereas Luther Gullick has given a keyword ’POSDCORB’ where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting. But the most widely accepted are functions of management given by KOONTZ and O’DONNEL i.e. Planning, Organizing, Staffing, Directing and Controlling.

    Assignment of any responsibility or authority by a supervisor to a subordinate for carrying out specific activities is called Delegation. Delegation is a part of which of the following management functions?  

    A Planning Correct Answer Incorrect Answer
    B Organising Correct Answer Incorrect Answer
    C Staffing Correct Answer Incorrect Answer
    D Directing Correct Answer Incorrect Answer
    E Controlling Correct Answer Incorrect Answer

    Solution

    Organizing is the process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals. According to Henry Fayol, “To organize a business is to provide it with everything useful or its functioning i.e. raw material, tools, capital and personnel’s”. To organize a business involves determining & providing human and non-human resources to the organizational structure. Organizing as a process involves: •            Identification of activities. •            Classification of grouping of activities. •            Assignment of duties. •            Delegation of authority and creation of responsibility. •            Coordinating authority and responsibility relationships.  

    Practice Next