Fundamental Revise General

What is the primary goal of management in a changing environment?

To achieve objectives effectively and efficiently by coordinating the activities of others through planning, organizing, leading, and controlling limited resources.

What are the tasks involved in the planning function of management?

Determining organizational goals, building strategies, and concretizing them into actionable plans.

How does organizing support the planning function?

It ensures resources are allocated effectively to implement strategies and achieve goals.

What activities are included in the leading function?

Influencing, motivating, guiding, and encouraging employees to achieve organizational goals.

What is the purpose of the controlling function?

To compare actual achievements to set goals, identify deviations, and make necessary corrections.

How are the managerial functions of planning, organizing, leading, and controlling interrelated?

Planning provides direction, organizing establishes structure, leading motivates implementation, and controlling ensures goals are met.

What are the three categories of Mintzberg’s managerial roles?

Interpersonal, Informational, and Decisional roles.

What is the role of a figurehead under Mintzberg’s interpersonal category?

Performing ceremonial and symbolic duties.

What does the decisional role of an entrepreneur involve?

Searching for opportunities and initiating new projects or ideas.

What are the three key skills required for managers?

Technical skills, human skills, and conceptual skills.

How do conceptual skills benefit managers?

They enable managers to observe the organization as a whole and solve complex problems.

What factors are included in the external environment of management?

Economy, legal-political factors, sociocultural factors, technology, nature, and the competitive environment.

How does inflation affect businesses in the external environment?

It increases costs, reduces competitiveness, and affects purchasing power.

What are the elements of the internal environment of an organization?

Financial capability, human resources, infrastructure, and corporate culture.

What is the definition of corporate social responsibility (CSR)?

The obligation to constituents beyond stockholders and beyond what is required by law or contract.

What are the benefits of implementing CSR?

Attracting customers, recruiting talent, retaining employees, improving community standards, and gaining socially conscious investors.

What are the four dimensions of managerial problems?

Certainty, risk, uncertainty, and ambiguity.

What distinguishes programmed decisions from non-programmed decisions?

Programmed decisions are routine and based on established policies, while non-programmed decisions are complex and require creative problem-solving.

What is the managerial decision-making process?

Identifying the problem, setting decision criteria, developing alternatives, analyzing them, selecting the best alternative, implementing it, and evaluating its effectiveness.

Why is planning important for organizational success?

It provides direction, clarifies goals, coordinates activities, and prepares the organization for environmental changes.

What are the steps in the planning process?

Identify mission and goals, use SWOT analysis, formulate strategies, implement them, and evaluate results.

What are the characteristics of a simple organizational structure?

Little departmentalization, centralized authority, and wide spans of control.

What are the strengths and weaknesses of a functional organizational structure?

Strengths include cost-saving specialization and clear tasks, while weaknesses include silos and lack of cross-functional understanding.

What are the five stages of team development?

Forming, Storming, Norming, Performing, and Adjourning.

What are the three main leadership styles identified by Lewin?

Authoritarian, democratic, and laissez-faire.

What is Maslow’s hierarchy of needs?

A model of human motivation comprising physiological, safety, belongingness, esteem, and self-actualization needs.

What are the types of controls in management?

Feedforward (preliminary), concurrent, and feedback control.

What are the levels of control in an organization?

Strategic, tactical, and operational controls.