Management Principles and Functions Flashcards

Vocabulary flashcards based on management principles, organizational levels, and objectives as outlined in the Transcend PU College lecture notes.

Functions of Management

Management activities that include Planning, Staffing, and Controlling, but exclude Cooperation.

Top level management

The management level that consists of the Chairman and is responsible for policy formulation.

Coordination

The essence of Management.

Organisational objective of management

Objectives consisting of Survival, Profit, and Growth.

Efficiency

Refers to the doing the task correctly and with minimum cost.

Management

Considered as both Art and Science and identified as multidimensional.

Policy formulation

The specific management function assigned to Top level management.

Multidimensional

A quality of Management because it deals with work, people and operations simultaneous.

Providing employment opportunities

An activity that is NOT considered an Organisational objective of management.

Policy making

An activity listed as NOT being an objective of management.