Bonus sto ne gi vidov

Question 1

What is management?

Answer 1

= the process of working with people and organisational resources to achieve goals efficiently and effectively.

Question 2

What are the 4 management functions?

Answer 2

Planning, organizaning, leading and controlling

Question 3

Define the types of plans (Tactical, operational and business plan)

Answer 3

Tactical plan = support for a strategic plan by transforming it into a short-term specific plan by applying it to particular parts of the organisation. It ensures adequate resources and assigns responsibility to each section and individuals involved in the strategy.
Operational plan = plan about particular procedures and processes required to keep the organisation running smoothly (staff schedule, monthly budget, performance goals for employees)
Business plan = written document that describes the actions and goals needed to support organisational strategy.

Question 4

Strategic and directional plan

Answer 4

Strategic plan = broad, long-term plan that helps to define the entire organization’s strategic mission and goals, and the actions needed to achieve them.
Directional plan = general, flexible plan that provides guidelines for an organisation’s long-term goals. Directional plans provide focus but do not include specific objectives or allocate responsibility.

Question 5

Define Organasing

Answer 5

process of orchestrating people, structure, actions, resources, and decisions to achieve goals what is going to be done, how and by whom

Question 6

Define Controlling

Answer 6

Controlling = process of monitoring activities such as financials, policies, measuring results, comparing them with goals, and correcting performance when necessary  ensuring that performance meets the objectives of goals and plans