Management is the process of planning organizing staffing directing and controlling enterprise resou...........

Business Studies (CUET) NATURE SIGNIFICANCE OF MANAGEMENT

Management is the process of planning, organizing, staffing, directing, and controlling enterprise resources efficiently and effectively to achieve the goals of the organization. Effectiveness in management is concerned with doing the right task, completing activities, and achieving goals. Efficiency means doing the task correctly with minimum cost.

Case Study:

A company's target production is 10,000 units in a year. To achieve this target, the manager has to operate on double shifts due to power failure most of the time.

In the above case, the manager was:

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Effective and efficient both

Only efficient

Efficient but not effective

Effective but not so efficient

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Explanation:

Solution and Explanation:

Understanding the Concepts of Efficiency and Effectiveness

Effectiveness refers to achieving the set goal (producing 10,000 units in a year).
Efficiency means completing the task with minimal cost and effort (without wastage of resources like time, money, or effort).

Case Analysis:

The manager achieved the target of 10,000 units → This means he was effective (goal achieved).
However, he had to operate on double shifts due to power failures → This indicates inefficiency because more resources (extra working hours) were used instead of optimizing production.