Management Principles and Practices Quiz

Management Overview

• The main focus of management is to achieve organizational goals and objectives efficiently and effectively.

Managed Resources

• The field of management typically involves managing various resources, including:
  • Human resources (people and their skills)
  • Financial resources (money and investments)
  • Physical resources (equipment, materials, and facilities)
  • Information resources (data, technology, and knowledge)

Delivery and Adaptation

• Two key concepts used in management to differentiate between continued delivery and adapting to changing needs are:
  • Efficiency (achieving goals with minimum waste of resources)
  • Effectiveness (achieving desired outcomes and adapting to changing circumstances)

Management Stakeholders

• The term used to refer to the people involved in management is stakeholders, which includes:
  • Managers (leaders who oversee and direct)
  • Employees (team members who perform tasks and support)
  • Customers (receivers of goods or services)

Management Scope

• Management encompasses various fields, including:
  • Business management (private sector)
  • Public management (government sector)
  • Non-profit management (voluntary sector)
  • Healthcare management (medical services)
  • Environmental management ( conservation and sustainability)