Management Functions
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Questions and Answers

What does 'process' in the definition of management refer to?

  • The primary functions or activities performed by management (correct)
  • The resources used to achieve the goals
  • The overall goal of management
  • The evaluation of management's performance

    • What is the main difference between effectiveness and efficiency?

  • Effectiveness is concerned with the process, while efficiency is concerned with the end result
  • Effectiveness is concerned with doing the right task, while efficiency is concerned with doing the task correctly (correct)
  • Effectiveness is concerned with the end result, while efficiency is concerned with the process
  • Effectiveness is concerned with doing the task correctly, while efficiency is concerned with doing the right task

    • What is the relationship between inputs and outputs in terms of efficiency?

  • If fewer inputs are used, more outputs are derived (correct)
  • If more inputs are used, fewer outputs are derived
  • If more inputs are used, more outputs are derived
  • If fewer inputs are used, fewer outputs are derived

    • What is the ultimate goal of efficient management?

    <p>To reduce costs and ultimately lead to higher profits</p> Signup and view all the answers

    Why is it important for management to balance effectiveness and efficiency?

    <p>Because they are interrelated and affect the overall performance of the organization</p> Signup and view all the answers

    What happens when a company focuses on efficiency but not effectiveness?

    <p>The company's goods do not reach the market and demand declines.</p> Signup and view all the answers

    What is the result of a manager being effective but not efficient?

    <p>The manager is able to produce the goods but at a higher production cost.</p> Signup and view all the answers

    What is the aim of all managers?

    <p>To achieve high effectiveness with minimum resources.</p> Signup and view all the answers

    What is the result of poor management?

    <p>Both inefficiency and ineffectiveness.</p> Signup and view all the answers

    What is the consequence of undue emphasis on high efficiency without being effective?

    <p>The company's management is considered poor.</p> Signup and view all the answers

    Study Notes

    Management Definition and Key Concepts

    • Management is a process of getting things done to achieve goals effectively and efficiently.
    • The process involves primary functions or activities: planning, organising, staffing, directing, and controlling.

    Effectiveness in Management

    • Effectiveness means doing the right task, completing activities, and achieving goals.
    • It is concerned with the end result or outcome of a task.

    Efficiency in Management

    • Efficiency means doing a task correctly and with minimum cost.
    • It involves a cost-benefit analysis, considering the relationship between inputs and outputs.
    • Efficiency is increased when:
      • More benefits are derived from fewer resources or inputs.
      • Fewer resources are used to achieve the same benefit or output, resulting in lower costs.

    Input Resources

    • Input resources include: money, materials, equipment, and personnel required to do a particular task.
    • Management is concerned with the efficient use of these resources to reduce costs and increase profits.

    Effectiveness vs Efficiency

    • Effectiveness and efficiency are interrelated but distinct concepts.
    • Management must balance both effectiveness and efficiency to achieve goals.
    • Being effective but not efficient can lead to high production costs.
    • Being efficient but not effective can result in not achieving target production.
    • High efficiency is often associated with high effectiveness, but undue emphasis on efficiency without being effective is not desirable.

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    Description

    This quiz covers the definition and primary functions of management, including planning, organizing, staffing, directing, and controlling.

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