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Questions and Answers
What dual aspects does management encompass?
What dual aspects does management encompass?
What is the primary role of top managers?
What is the primary role of top managers?
Which type of managers primarily manage first-line managers?
Which type of managers primarily manage first-line managers?
Which of the following best describes first-line managers?
Which of the following best describes first-line managers?
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What is a common characteristic of art in management?
What is a common characteristic of art in management?
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What is primarily demonstrated by the figurehead role of a manager?
What is primarily demonstrated by the figurehead role of a manager?
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Which managerial role involves fostering innovation and change within the organization?
Which managerial role involves fostering innovation and change within the organization?
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What are the three main categories of managerial roles identified by Henry Mintzberg?
What are the three main categories of managerial roles identified by Henry Mintzberg?
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In which role does a manager serve as a link between various stakeholders and other organizations?
In which role does a manager serve as a link between various stakeholders and other organizations?
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What best describes the decisional role of a manager in an organization?
What best describes the decisional role of a manager in an organization?
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Which skills are essential for effective managerial performance at different levels?
Which skills are essential for effective managerial performance at different levels?
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Which of the following roles primarily focuses on handling disturbances and crises?
Which of the following roles primarily focuses on handling disturbances and crises?
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Which role is related to ensuring that relevant information is communicated effectively across the organization?
Which role is related to ensuring that relevant information is communicated effectively across the organization?
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Which function is considered most important for top managers?
Which function is considered most important for top managers?
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What is the primary role of the organizing function in management?
What is the primary role of the organizing function in management?
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What distinguishes an organization from a group of individuals?
What distinguishes an organization from a group of individuals?
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In which management level is leading considered the most important function?
In which management level is leading considered the most important function?
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Which management function involves monitoring, comparing, and correcting work?
Which management function involves monitoring, comparing, and correcting work?
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What is the least important function for middle managers according to the hierarchy of management functions?
What is the least important function for middle managers according to the hierarchy of management functions?
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What role does planning play in the context of management functions?
What role does planning play in the context of management functions?
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Which is NOT a common characteristic of organizations?
Which is NOT a common characteristic of organizations?
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What role does a manager play in resolving conflicts among subordinates?
What role does a manager play in resolving conflicts among subordinates?
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Which role involves deciding the distribution of resources among individuals and groups in an organization?
Which role involves deciding the distribution of resources among individuals and groups in an organization?
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Which of the following best describes the role of a spokesperson?
Which of the following best describes the role of a spokesperson?
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In management, what does efficiency primarily refer to?
In management, what does efficiency primarily refer to?
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Which component is considered part of the 'art' of management?
Which component is considered part of the 'art' of management?
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What defines the area of 'science' in management?
What defines the area of 'science' in management?
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Which of the following is a characteristic typically associated with science rather than art?
Which of the following is a characteristic typically associated with science rather than art?
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What outcome does management strive to achieve?
What outcome does management strive to achieve?
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What is the primary focus of management according to the description provided?
What is the primary focus of management according to the description provided?
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Which of the following represents an element of management?
Which of the following represents an element of management?
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In the context of management, what does 'efficiency' refer to?
In the context of management, what does 'efficiency' refer to?
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Which of the following is NOT a primary activity of management?
Which of the following is NOT a primary activity of management?
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What does 'effectiveness' in management primarily emphasize?
What does 'effectiveness' in management primarily emphasize?
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Which organization resource is NOT typically considered in management?
Which organization resource is NOT typically considered in management?
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What is the expected score breakdown for the mid-term and final exams in this course?
What is the expected score breakdown for the mid-term and final exams in this course?
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Which of the following is NOT a part of business activities outlined?
Which of the following is NOT a part of business activities outlined?
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Study Notes
Introduction to Business Management
- This course is an introduction to concepts, principles, problems, and practices of Business Administration.
- The course examines managerial activities and business activities.
Content
-
Part One: Managerial Activities
- Introduction to management
- Planning
- Organizing
- Leading
- Controlling
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Part Two: Business Activities
- Forms of Organizations
- Marketing
- Operations and Production
- Purchasing and Warehousing
- Finance and Accounting
Course Grading Policy
- Students demonstrate competency through various approaches, including mid-term and final exams.
- Mid-term exam: 40 points
- Final Exam: 60 points
What is Management?
- Management is a set of activities or process to achieve organizational goals/objectives by efficiently and effectively using resources.
- Elements of Management:
- Set of activities (planning-organizing-leading-controlling)
- Organizational goals (profit, growth)
- Resources (material, financial, human, capital, information)
- Efficiency and Effectiveness
Efficiency vs Effectiveness
- Efficiency: Doing things right (getting the most output with the least waste and inputs).
- Effectiveness : Doing the right things (Attaining organizational goals)
Management: Science or Art?
- Science: Collection of systematic knowledge, truths, inferences & experimental principles.
- Art: Known rules, skills, expertise and experience to achieve a desired result.
- Management combines both science & art with scientific principles and skillful talent.
Who are Managers?
- Managers coordinate the work of others to achieve organizational goals.
Levels of Management
- Top Management: President, CEO, Executive Vice Presidents
- Middle Management: Plant managers, division managers, department managers
- First-line Management: Foreman, supervisors, office managers
- Non-managerial Employees: Employees that are not managers
Classifying Managers
- Top Managers: Responsible for organization-wide decisions, plans & goals
- Middle Managers: Manage the work of first-line managers.
- First-line Managers: Manage the work of non-managerial employees.
Importance of Management Functions
- Importance of planning, organizing, leading, and controlling differs depending on the level of management.
What Do Managers Do?
- Planning: Defining goals, strategies, and plans to achieve goals.
- Organizing: Arranging and structuring work to achieve goals.
- Leading: Working with people to achieve goals.
- Controlling: Monitoring, comparing, and correcting work.
What is an Organization?
- A deliberate arrangement of people to accomplish specific purposes. Common characteristics:
- Distinctive purpose (goal)
- Composed of people
- Deliberate structure
Skills Approach
- Technical skills: Knowledge and proficiency in a specific field.
- Human skills: Ability to work well with others.
- Conceptual skills: Ability to think abstractly and conceptually about organizational situations.
Skills Needed at Different Management Levels
- Top managers need high conceptual skills.
- Middle managers need high human skills.
- Lower level managers need high technical skills.
Roles of a Manager
- Roles of a manager: Groups under Interpersonal, Decisional and Informational Roles.
-
Interpersonal Roles:
- Figurehead: Represents the company on social occasions.
- Leader: Motivates and encourages.
- Liaison: Relates to people outside the organization (e.g., suppliers).
-
Decisional Roles:
- Entrepreneur: Innovates and identifies new ideas.
- Disturbance handler: Resolves conflicts and crisis.
- Resource allocator: Decides distribution of resources.
- Negotiator: Negotiates with internal/external parties.
-
Informational Roles:
- Monitor: Gathers and analyzes internal/external information.
- Disseminator: Transmits info to other employees.
- Spokesperson: Transmits info to external parties
Assignments
- Further study is required on topics of assignments and organizational activities.
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Description
Test your understanding of business management principles, including key managerial activities and business operations. This quiz will cover topics from planning to finance, ensuring you grasp the core concepts essential for effective management.
