Chapter 1 Flashcards

1
Q

What is the definition of business management

A

Its the process of utilising an organisations resources to achieve specific objectives through the functions of planning, organising, leading and controlling

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2
Q

List the 6 additional management functions

A

-co-ordination
-Decision making
-Communication
-Motivation
-Delegation
-Discipline

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3
Q

Explain Co-ordination

A

Its the process in which the various functions in the business are treated as a unit

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4
Q

Explain Decision making

A

Various solutions are considered and the best solution is chosen

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5
Q

Explain communication

A

It involves the transfer of messages between the business and its external and internal environment

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6
Q

Explain motivation

A

The process in which the owner and manager persuade the employees that they should voluntarily do their jobs as best as possible

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7
Q

Explain delegation

A

The process by which tasks are allocated to employees with the neccessary power and responsibility to enable them to the tasks

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8
Q

Explain Disipline

A

It shapes the behaviour of employees so that their conduct helps to ensure the successful operation of the business

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9
Q

List the management skills that a manager should have

A

-Technical skills
-Interpersonal skills
-Conceptual skills
-Diagnostic skills
-Communication skills
-Decision making skills
-Time management skills

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10
Q

Explain technical skills

A

-Managers spend tine training sub-ordinates and answering questions about work related problems

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11
Q

Explain interpersonal skills

A

The ability of a manager to communicate with, understand and motivate both individuals and groups

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12
Q

Explain conceptual skills

A

The managers ability to see and understand the business as whole as well as how parts fit together

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13
Q

Explain diagnostic skills

A

They enable a manager to visualise the most appropriate response to a situation.

They diagnose and analyse a problem in the business by studying symptoms and developing a plan

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14
Q

Explain communication skills

A

A managers ability to convery ideas and information effectively and to receive ideas and information effectively

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15
Q

Explain decision making skills

A

A managers ability to recognise and identify problems and opportunities to formulate alternative courses of action and implement the best solution to solve problems and capitalize on opportunities

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16
Q

Explain time management skills

A

A managers ability to prioritize work, work effectively and efficiently and delegate responsibility effectively

17
Q
A