Fani Warraich MANAGEMENT SCIENCES   -   Management

In Maslow's hierarchy of needs, which of the following is the highest level of need?

Self-actualization is like becoming the best version of yourself. It's when you?ve met all your basic needs (like food and safety) and can focus on being creative, solving problems, and reaching your full potential.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which leadership theory focuses on how leaders adapt their style based on the situation?

Contingency theory is like a chameleon that changes color based on its surroundings. It means that there?s no one-size-fits-all way to lead. A good leader adjusts their style depending on the people they are leading and the situation they are in.
Fani Warraich MANAGEMENT SCIENCES   -   Management

What is the primary objective of financial management within an organization?

Financial management is like taking care of a piggy bank. Its main job is to make sure that the company?s money grows, so that shareholders (the people who own the company) are happy with their investment.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which of the following is NOT a function of human resource management?

Human resource management is like a big help desk for employees. It takes care of hiring, paying, and evaluating employees, but it doesn't usually create the overall company strategy. That?s something top management does.
Fani Warraich MANAGEMENT SCIENCES   -   Management

What does SWOT analysis stand for in strategic management?

SWOT analysis is like a list of what you?re good at (strengths), where you need to improve (weaknesses), things that could help you (opportunities), and things that could hurt you (threats). It helps managers make smart decisions.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which of the following is a characteristic of a decentralized organization?

Decentralization is like a classroom where the teacher lets students make decisions about what activities to do. In management, this means giving lower-level managers and employees more power to make decisions, which can lead to faster and more flexible responses.
Fani Warraich MANAGEMENT SCIENCES   -   Management

What is the key difference between leadership and management?

A leader is like a cheerleader, encouraging everyone to do their best, while a manager is more like a coach who also handles logistics and makes sure things run smoothly. Both are important, but their roles are different.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which of the following best describes the concept of "span of control"?

Span of control is like the number of kids a babysitter looks after. If there are too many kids, it?s harder to give them individual attention. A manager?s span of control is the number of employees they are directly responsible for.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which management style focuses on close supervision and clear directions from the manager?

An autocratic manager is like a strict teacher who tells everyone exactly what to do and doesn?t ask for input. This style gives clear orders but doesn?t allow much flexibility or creativity from the team.
Fani Warraich MANAGEMENT SCIENCES   -   Management

What is the primary function of management in an organization?

Planning is like deciding where you want to go on a trip and how you're going to get there. It's the starting point in management, setting goals and strategies for the organization to follow.

MANAGEMENT SCIENCES