Management Principles Quiz

Management Principles

Planning

• Involves setting goals, objectives, and strategies for the organization
• Involves decision-making and problem-solving
• Types of planning:
  • Strategic planning: long-term, overall direction of the organization
  • Tactical planning: short-term, specific objectives
  • Operational planning: day-to-day activities
• Key steps in planning:
  1. Establish goals and objectives
  2. Identify alternatives
  3. Evaluate alternatives
  4. Choose an alternative
  5. Implement the plan
  6. Monitor and evaluate the plan

Organizing

• Involves allocating resources, assigning tasks, and structuring the organization
• Types of organizational structure:
  • Functional structure: organized by function (e.g. marketing, finance)
  • Divisional structure: organized by product or geographic location
  • Matrix structure: combination of functional and divisional structures
• Key aspects of organizing:
  • Job design: defining tasks and responsibilities
  • Departmentalization: dividing the organization into departments
  • Delegation: assigning tasks and responsibilities

Leading

• Involves influencing and motivating employees to achieve organizational goals
• Types of leadership styles:
  • Autocratic: centralized decision-making
  • Democratic: participative decision-making
  • Laissez-faire: minimal supervision
• Key aspects of leading:
  • Motivation: inspiring and motivating employees
  • Communication: effective communication with employees
  • Leadership traits: vision, empathy, integrity, and confidence

Controlling

• Involves monitoring and correcting the organization's performance
• Types of control:
  • Feedforward control: anticipating and preventing problems
  • Concurrent control: monitoring and correcting performance in real-time
  • Feedback control: correcting performance after it has occurred
• Key aspects of controlling:
  • Setting standards: establishing performance metrics
  • Measuring performance: tracking and evaluating performance
  • Corrective action: taking action to correct deviations from standards

Human Resource Management

• Involves managing the organization's workforce
• Key aspects of HRM:
  • Recruitment and selection: attracting and hiring employees
  • Training and development: enhancing employee skills and knowledge
  • Performance management: evaluating and improving employee performance
  • Compensation and benefits: rewarding employees
  • Employee relations: maintaining positive employee relationships