Question

One of the important ideas in the text's definition of management is attainment of societal goals. Which of the following options best represents this idea?

1) Effectiveness is more important than efficiency.
2) Management is unique to for-profit organizations.
3) Efficiency is more important than effectiveness.
4) Management functions of planning, organizing, leading, and controlling.

Answer 1

The best representation of the attainment of societal goals in the context of management is the functions of planning, organizing, leading, and controlling, which ultimately contribute to societal well-being and economic efficiency. Thus, the option 4 is the correct answer.

Step-by-step explanation:

The idea that the attainment of societal goals is an important concept in management relates to the notion that management goes beyond individual organizational goals to include broader societal objectives. These societal objectives often encompass economic efficiency, economic freedom, economic security, and economic growth, which are of paramount importance to the economy and society at large. Among the options provided, option 4) Management functions of planning, organizing, leading, and controlling best represents the implementation of societal goals within the management process. These functions facilitate the efficient use of resources to achieve not only organizational outcomes but also contribute to societal well-being and the achievement of widely recognized economic goals.