Management

Question 1

what is the definition of management

Answer 1

refers to the process of organising, planning, directing and controlling resources, including people, within a business in order to achieve its objectives efficiently and effectively.

Question 2

what are the 4 functions of management

Answer 2

-planning:what actions are needed to achieve objectives.
-organising:arranging resources effectively.
-directing:motivating and leading employees.
-controlling:monitoring and making sure activities stay on track

Question 3

what are the 4 roles of management

Answer 3

-setting objectives
-decision making
-leading & motivating staff
-coordinating activities

Question 4

what are the three types of planning

Answer 4

-strategic:top of business, long term
-tactical:middle management, actionable steps
-operational:implementing steps on day to day basis

Question 5

what is management by objectives(MBO)

Answer 5

system where managers and employees agree on specific measurable goals, progress is reviewed regularly.

Question 6

what are advantages of MBO

Answer 6

-clear focus
-improved communication
-sense of responsibility

Question 7

what are disadvantages of MBO

Answer 7

-time-consuming
-too much focus on targets, lack of creativity
-demotivating if goals are unrealistic

Question 8

when was McGregors theory published

Answer 8

1960

Question 9

in short what does threory X suggest

Answer 9

workers are lazy and need control, mainly motivated by fear of punishment.

Question 10

in short what does theory Y suggest

Answer 10

workers are motivated and capable of self direction, e.g tech company