Management Principles and Practices Quiz

Management involves the administration of organizations, including businesses, nonprofit organizations, and government bodies, through business administration, nonprofit management, or public administration. It is the science of managing resources and includes setting strategy, coordinating efforts of employees or volunteers, and utilizing available resources to accomplish objectives.

The activities of management include setting the strategy of an organization, coordinating the efforts of employees or volunteers, and utilizing available resources such as financial, natural, technological, allocated authority, and human resources.

In addition to the administration of organizations, the term 'management' may also refer to the people involved in the process.

<p>'Run the business' and 'Change the business' are used in management to differentiate between the continued delivery of goods or services and the adaptation of goods or services to meet the changing needs of customers.</p> Signup and view all the answers

<p>Management applies the concept of strategy by setting the strategic direction of an organization to accomplish its objectives.</p> Signup and view all the answers