Nature Of Management

Question 1

What is management

Answer 1

Management is a process designed to achieve an organisation objectives by using its resources effectively and efficiently

Question 2

Meaning of effectively

Answer 2

Having the intended result

Question 3

Meaning of efficiently

Answer 3

Accomplishing objectives with minimal resources

Question 4

What is a manager

Answer 4

managers make decisions on how the organization uses its resources as well as planning and controlling the activities to reach its objectives

Question 5

what is downsizing

Answer 5

this is the elimination of significant number of staff from a firm

Question 6

what is acquiring suppliers as a manager

Answer 6

is making sure that products are delivered to customers while maximizing efficiencies and providing creative solutions to help reduce expenses

Question 7

what are the functions of management

Answer 7

planning organizing directing and controlling

Question 9

what is planning

Answer 9

it is to determine the companies objectives and deciding how to accomplish them this can be the mission goals and objectives

Question 10

what is a mission

Answer 10

this answer what business are we in as a company

Question 11

what are goals

Answer 11

are aspirations of a company that are consistent and comprehensive

Question 12

what are objectives

Answer 12

general sytas that are measurable that a company may achieve

Question 13

name the 4 types of plans

Answer 13

strategic plan
tactical plan
operational plan
crisis management (contingency plan)

Question 14

what is a strategic plan

Answer 14

long range objectives and overall strategy or course of action which a firm fulfills its mission generally longer than 1 year

Question 15

wat is a tactical plan

Answer 15

short term and designed to implement the activities and objectives specified in the strategic plan generally in less than a year

Question 16

what is an operational plan

Answer 16

short term and specifies what action employees or departments are meant to do in order to achieve the tactical plan and ultimately the strategic plan, these maybe weekly or daily plans

Question 17

what is crisis management

Answer 17

deals with potential disaster such as product tempering or natural disaster even pandemics or illegal conducts by employees

Question 18

what is organization by a manager

Answer 18

managers must review plans and determine what activities are necessary to implement them while creating synergy and establishing a line od authority

Question 19

what is directing by a manager

Answer 19

this is motivating and leading employees to achieve the objectives of a firm

Question 20

what is controlling by a manager

Answer 20

its is the process of evaluating and controlling activities to keep the firm in course

Question 21

what are the 5 steps of controlling

Answer 21

1 measuring performance
2 comparing present to standard performance
3 identify differences from standard performance
4 investigating the difference from standard performance 5
5 taking corrective action

Question 22

what are the levels of management

Answer 22

high level management
middle level management
front line management

Question 23

what is high level management

Answer 23

these are top level management that make the firms strategic decision that focus on overall scheme or key ides to take advantage of the opportunities like the CEO CFO

Question 24

what is middle level management

Answer 24

these are responsible for tactical and operational planning with guide lines established by high level management such a s plant managers or division mangers

Question 25

what is front line management

Answer 25

these are supervisors for both workers and daily operations and spend most of their time directing and controlling like foreman and office mangers

Question 26

name other managers and what they do

Answer 26

financial manager - focuses on obtaining money for successful operations Production / operations manger - develops and maintains the activities in transforming resources into goods and services Human recourses manger - handles all staffing issues in a formalized manner Marketing manager -responsible for planning pricing and promoting the products and making them available to customers IT manager - implement, maintains and controls technological applications such as computer networks Administrative manager -manage a segment of a business and does not specialize in a particular function

Question 27

what 4 skills are needed by a manger and explain them

Answer 27

technical expertise - knowledge and training to perform the job Conceptual skills - to think abstract and see how parts fit together to form a whole Analytical skills ability to identify relevant issues and recognize their importance Hunan relation skills - ability to deal with people both on and of the job

Question 28

what is leadership

Answer 28

the ability to influence employees to work towards a common goal

Question 29

what are the 4 types of leadership and explain them

Answer 29

Autocratic - make all decision and tell employees what to do Democratic - involves employees in the decision making Free rein - lets employees work with out interference Authentic - passionate about showcasing the goals and values of the firm

Question 30

what is employee empowerment

Answer 30

when employees are given the ability to take responsibility and make decisions about their jobs

Question 31

what are the 6 steps in decision making

Answer 31

1 recognize and define the satiation 2 Develop options to resolve the situation 3 Analyze the options 4 selecting the best option 5 implementing the decision 6 monitoring the consequences of the decision