Statement (I) : Management is not just a creature of the economy; it is a creator as well.
Statement (II) : He who can manage, can manage anything.
Code :

Correct option is D

The correct answer is (d) Both the statements (I) and (II) are correct.
Statement (I) is a famous assertion by Peter Drucker, highlighting that management does not merely react to economic conditions but actively shapes them through innovation and resource allocation. Statement (II) reflects the Universality of Management concept. This principle suggests that the core functions of management—planning, organizing, staffing, directing, and controlling—are transferable across different types of organizations, whether they are business, political, or social. If an individual masters these fundamental managerial skills, they can theoretically apply them to any organized human activity.
Information Booster
· Economic Creator: Management generates demand and markets rather than just satisfying existing needs.
· Universal Application: Henri Fayol was a primary advocate for the idea that management principles apply to all undertakings.
· Transferable Skills: Technical skills may vary by industry, but conceptual and human skills remain constant for effective leadership.
· Goal Orientation: Both statements emphasize that management is the "organ" of an institution that converts resources into results.
Additional Knowledge
· Option (a) is incorrect because it ignores the validity of the universality principle found in Statement (II).
· Option (b) is incorrect because it fails to recognize the proactive, creative role of management in the economy described in Statement (I).
· Option (c) is incorrect because both statements are foundational pillars taught in modern management education.