Management Fundamentals Quiz

Management according to Harold Koontz is 'The art of getting things done through and with people in formally organized groups, It is an art of creating an environment in which people can perform as individuals and yet to co-operate towards attainment of group goals.' According to Henry Fayol, 'To manage is to forecast and to plan, to organise, to command, to co-ordinate and to control.'

Values and ethics are significant in management as they guide decision-making, influence organizational culture, and contribute to the reputation and success of the organization. They help in fostering trust and integrity within the organization, and create a positive work environment.

According to George R Terry, management is 'a distinct process consisting of planning, organising, actuating, and controlling performed to determine and accomplish the objectives by the use of people and resources.'

The levels of management are top-level management, middle-level management, and first-level management. At the top-level, managers require conceptual skills and are involved in strategic planning. Middle-level managers need human skills and are responsible for implementing the plans and strategies formulated by top-level management. First-level managers need technical skills and are involved in supervisory roles and coordinating the activities of non-managerial employees.

The evolution of management thoughts traces the development of management theories over time, from classical to modern approaches. Different schools of management thought include the classical school, behavioral school, quantitative school, systems school, and contingency school, each with its own perspective on management principles and practices.