Ch: 5 Introduction To Management

Question 1

Management

Answer 1

A process by which plans are made and resources organised and controlled in order to achieve objectives

Question 2

Management skills

Answer 2

Leading, motivating, communicating

Question 3

Management activities

Answer 3

Planning, organising, controlling

Question 4

Management characteristics

Answer 4

Problem solving ability, flexibility, charisma, hard working, initiative

Question 5

Ways management and enterprise are different

Answer 5

Idea generation
Risk taking / level of risk
Running the business
Control
Level of reward

Question 6

Leading

Answer 6

Managers must have a clear vision for the future
Encourage employees to work together
Choose the most appropriate leadership style for success

Question 7

Motivation

Answer 7

Must find what motivates their employees
Can offer financial/ non financial rewards

Question 8

Communicating

Answer 8

Good manager must be able to exchange information effectively
Must know that their message is clear and concise

Question 9

Planning

Answer 9

Must identify overall business goals and break them into manageable tasks
Develop plans to achieve these goals

Question 10

Organising

Answer 10

Identify the roles and tasks that need to be performed by the staff/ put organisational structure to complete the tasks