BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

PRINCIPLES AND PRACTICE OF MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A purchase manager had to purchase 500 tonnes of raw material from the supplier who quoted the least. The purchase was made from his son who is also a supplier who quoted a high price ____ Which principle of management is violated.
A
Scalar chain
B
Order
C
Subordination of individual interest to general interest
D
Initiative
Explanation: 

Detailed explanation-1: -A purchasing manager should have good management skills, market researching tactics, negotiation skills, communication skills, and marketing capabilities. Profitable decision making is a very important requirement that is needed in the purchasing management field.

Detailed explanation-2: -Management principles help to solve various organizational problems in a pre-defined manner. They guide actions appropriate to the situation. This results in efficient decisions and optimum utilization of scarce organizational resources and increases organizational productivity and profits.

Detailed explanation-3: -A bachelor’s degree and a few years of work experience in procurement is typically required for purchasing manager positions. BLS data indicates purchasing managers typically have at least five years of experience as a buyer or purchasing agent before moving up into management.

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