Management Principles and Practices Quiz

"Run the business" and "Change the business" are two concepts used in management to differentiate between the continued delivery of goods or services and adapting goods or services to meet the changing needs of customers.

Management is the administration of organizations, whether they are a business, a nonprofit organization, or a government body through business administration, nonprofit management, or the political science sub-field of public administration respectively.

Management involves setting the strategy of an organization, coordinating the efforts of its employees or volunteers, and managing the resources of businesses, governments, and other organizations.

<p>The term 'management' may also refer to those people who manage an organization—manager.</p> Signup and view all the answers

<p>The science of managing resources in management includes the application of available resources, such as financial, natural, technological, allocated authority, and human resources.</p> Signup and view all the answers