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Nature and Significance of Management — Business Studies STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesNature and Significance of Management1 Mark
Question
Is management concerned only with doing the right task, completing activities and achieving goals without taking into consideration the cost-benefit? Give reason in support of your answer.
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Answer

Management is also concerned with cost benefit in organization. Management aims at maximum utilization of resources effectively and efficiently. Efficiency implies minimization of cost and time to achieve standard performance.

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