Question

Management should be based on :

• A. only absolute values
• B. only relative values
• C. both absolute and relative values
• D. goals only

Hint:

Value-based management is never purely rigid or purely fluid; it requires a combination of absolute principles (for stability) and relative values (for adaptability).

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
In home management and resource theory, decision-making and standard setting are guided by a core system of values, goals, and standards.

Step 2: Detailed Explanation:
- Absolute Values: These are fundamental, non-negotiable principles that do not change based on context or situation (e.g., honesty, integrity, health, safety). They provide a stable, long-term foundation for management decisions.
- Relative Values: These values are contextual, flexible, and dependent on changing personal situations, resources, and social environments (e.g., convenience, comfort, cost-effectiveness). They allow managers to adapt to immediate needs and make trade-offs.
Effective resource management must balance both types of values: maintaining absolute core standards while adjusting relative priorities to optimize daily goals.

Step 3: Final Answer
Management should be based on both absolute and relative values.