Introduction to Management

Question 1

Management

Answer 1

Planning, organizing, leading and controlling human and non human resources to achieve organizational goals

Question 2

Organization

Answer 2

Goal-directed, deliberately-structured group of people working together to provide specific goods and services

Question 3

Financial Bottom Line Management

Answer 3

-Prioritize profits over social & ecological impact of the organization
-pursuing self-interests ensures the good of the community
-consequential utilitarian POV

Shortcomings:
-prone to create negative social and ecological impact

Question 4

Triple Bottom Line Management

Answer 4

• profits increase when negative socio-ecological impact is reduced
• sustainable dev’t: needs of the present generation are met w/o affecting future generations
• business case to justify how an initiative will cause financial gain
• enlightened consequential utilitarian POV

Shortcomings:
- improves socio-ecological wellbeing only when there is financial gain

Question 5

Social & Ecological Thought Management

Answer 5

• maintain financial stability while improving socio-ecological impact
• practicing virtues ensures happiness in the community
• value ethics POV

Shortcomings:
- does not maximize finances