Definition of Management

Controlling, planning, organizing, staffing, directing

Effectiveness is concerned with the end result, while efficiency is concerned with doing the task promptly and with minimum cost

Management is the process of designing and maintaining an environment in which individuals working together in groups, efficiently accomplish selected aims

<p>Efficiency is important for management to achieve goals as it ensures the efficient use of input resources, reduces costs, and leads to higher profits</p> Signup and view all the answers

<p>Planning, organizing, directing, controlling</p> Signup and view all the answers

<p>Management of work, management of people, management of operations</p> Signup and view all the answers

<p>It involves a production process, including the flow of input material and transformation into the desired output.</p> Signup and view all the answers

<p>Management is described as dynamic because it needs to adapt to the changing environment.</p> Signup and view all the answers

<p>The level of management determines the chain of command, the amount of authority, and the status enjoyed by any managerial position.</p> Signup and view all the answers

<p>Administrative, top-level, middle-level, low-level, supervisory</p> Signup and view all the answers