. TRUE OR FALSE struction: Before each statement, write TRUE if the statement is correct or FALSE if the statement is incorrect.
1) Management is goal-oriented when they achieve specific goals.
2) Management is multidisciplinary such as management techniques, principles, and theories.
3) The process of measuring or comparing one's own products, services, and practices with those of the recognized industry leaders in order to identify areas for improvement is called Benchmarking.
4) SWOT analysis is a technique used to determine and define your skills, weaknesses, opportunities and threats.
5) Corporation is a business organization which consists of two or more persons who bind themselves to contribute money or industry to a common fund with the intention of dividing profits among themselves.
6) Planning is the process by which managers establish goals and define the methods by which these goals are to be attained.
7) The efficiency of the plan means its contribution to the purpose and objectives, offset by the costs and other factors required to formulate and operate it.
8) Prioritization matrices is a process of identifying a set of feasible alternatives and choosing a course of action from them.
9) Interrelationship diagram is a systematic method to outline all the details needed to complete a given objective or process.
10) Affinity Diagram is a tool use for organizing a large amount of disorganized information into groups based on their natural relationships and affinity. ​