Podcast
Questions and Answers
Which of the following are common features of an organization? (Select all that apply)
Which of the following are common features of an organization? (Select all that apply)
An organization is a collection of two or more people who work together in a structured way to achieve a specific goal or set of goals, according to Stoner and Freeman (2009).
An organization is a collection of two or more people who work together in a structured way to achieve a specific goal or set of goals, according to Stoner and Freeman (2009).
True
Which of the following is NOT a reason why we need organizations?
Which of the following is NOT a reason why we need organizations?
A business is any economic activity carried out to satisfy [blank] and wants.
A business is any economic activity carried out to satisfy [blank] and wants.
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Which of the following is NOT a classification of business organizations?
Which of the following is NOT a classification of business organizations?
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Which of these are NOT bases for classifying business organizations? (Select all that apply)
Which of these are NOT bases for classifying business organizations? (Select all that apply)
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According to Koontz and Donnel, objectives can be classified based on the level of significance and time horizon.
According to Koontz and Donnel, objectives can be classified based on the level of significance and time horizon.
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Resources are considered limited, meaning that they are not always available in sufficient quantities to meet all needs.
Resources are considered limited, meaning that they are not always available in sufficient quantities to meet all needs.
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What does the acronym DM stand for in the context of limited resources?
What does the acronym DM stand for in the context of limited resources?
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Efficiency refers to 'doing things right', while effectiveness refers to 'doing the right thing', according to Drucker.
Efficiency refers to 'doing things right', while effectiveness refers to 'doing the right thing', according to Drucker.
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Productivity is the relationship between the output generated by a production or service system and the input provided to create this output.
Productivity is the relationship between the output generated by a production or service system and the input provided to create this output.
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What is productivity a combination of?
What is productivity a combination of?
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Which of the following is a function of management?
Which of the following is a function of management?
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Management can be viewed as both a science and an art, with both theory and practice being crucial for success.
Management can be viewed as both a science and an art, with both theory and practice being crucial for success.
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What is the ultimate aim of management?
What is the ultimate aim of management?
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Study Notes
Session 1: Introduction to Organization and Management
- Management can be applied in various contexts, including individual, family, organizational, national, and international settings.
Part I: Introduction to Organization - Contents
- What is an organization? A group of people working together in a structured manner for a shared purpose. Organizations aim for specific, or multiple, goals.
- Common features of an organization: Include people, structure, and a common objective.
- Different definitions of organizations: Various definitions exist, with differing emphasis on factors like people, structure, or purpose. Key definitions include: a group of people with a shared purpose (Cambridge); a collection of people with a structured approach to achieving goals (Stoner and Freeman); and a structured arrangement of individuals aiming for a particular purpose (Robbins and Coulter).
- Why we need organizations? To achieve tasks too complex or expensive for individuals, to meet basic human needs, to meet psycho-emotional needs, and for the creation and dissemination of knowledge.
- What is a business organization? A collection of individuals working towards specific goals using limited resources to produce goods or services.
- Classification of business organizations: Organizations can be classified as private or public, for profit or not for profit. Examples listed in the document include Keells, Coca-Cola, and Dialog, though others could be listed depending on the specifics of the class.
- Objectives of organizations: Objectives refer to the desired results that guide organizational activities. Objectives differ in the level of impact they hold.
Other definitions on Understanding an Organization
- Organizations are considered socio-economic entities, meaning they have both social and economic roles.
Why we need Organizations?
- Accomplishing tasks beyond individual capacity, provision for human needs, fulfillment of psycho-emotional requirements, and preservation of knowledge.
What is a Business?
- A business is any activity focused on satisfying human needs and desires.
Business Organization
- A structured group of individuals producing goods and services, utilizing resources to achieve specific goals and objectives.
Classification of business organizations.
- Private and Public organizations
- Profit and Non-profit organizations
Objectives of Business Organizations
- Objectives are defined as the aimed-for end results.
- They are classified by their importance and time horizon.
- Organizations often have multiple objectives.
Part II: Management - Contents
- What is management? Management is not a universally agreed-upon concept.
- Management as a process: Covers planning, organizing, leading, and controlling.
- Management as an Art or a Science? Management is considered both an art and a science. A science because it relies on principles and theories, and an art because it involves applying that knowledge to achieve practical results.
- Management Core concepts: Include resources, efficiency, effectiveness, productivity, and process.
- Why need management?: Efficiency, effectiveness, improved use and distribution of resources.
Different Definitions of Management
- Management as the art of directing people to achieve goals.
- Management as the process which involves planning, organizing, directing, and controlling.
- Management as the process of managing organizational members and resources to achieve objectives.
- Management as the attainment of organizational targets effectively and efficiently through activities like planning, organizing, controlling and leading.
Management in Organisations
- Management encompasses planning, organizing, leading and controlling of limited resources to succeed in today's dynamic markets.
- Different resources such as human, physical, financial, and information capital must all be managed.
Core Concepts of Management
- Resources: Human, financial, physical, and informational resources in an organization.
- Efficiency: Minimizing the use of resources to meet objectives.
- Effectiveness: Appropriateness of objectives and the degree to which they are achieved.
- Productivity: The relationship between input and output relating to processes.
- Process: The sequence of activities used in an organization.
- Goals/Objectives: The desired outcomes of an organization.
- Environment: Factors outside the organization affecting it.
High Performing Organizations
- High-performing organizations combine effectiveness and efficiency, attaining goals efficiently.
Productivity
- Productivity is the relationship between output and input. It's calculated by output/input
Management – as a Process
- Management is a process including the coordination of organizational elements through planning, organizing, leading and control.
Four Functions of Management
- Planning, organizing, leading, and controlling are all vital to running a functional business.
Management Is It a Science or an Art?
- Management combines the principles of a science and the practical application of an art.
Why Management?
- To optimize resources, address market competition, enhance quality, and stay current with business trends.
Questions and Clarifications
- Questions regarding and clarifications about management and organizational structures.
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Description
Explore the foundational concepts of organization and management in this quiz. Understand what constitutes an organization, its features, and various definitions provided by renowned sources. Discover the necessity of organizations in managing complex tasks effectively.
