Chapter 1

Question 1

What is the definition of business management

Answer 1

Its the process of utilising an organisations resources to achieve specific objectives through the functions of planning, organising, leading and controlling

Question 2

List the 6 additional management functions

Answer 2

-co-ordination
-Decision making
-Communication
-Motivation
-Delegation
-Discipline

Question 3

Explain Co-ordination

Answer 3

Its the process in which the various functions in the business are treated as a unit

Question 4

Explain Decision making

Answer 4

Various solutions are considered and the best solution is chosen

Question 5

Explain communication

Answer 5

It involves the transfer of messages between the business and its external and internal environment

Question 6

Explain motivation

Answer 6

The process in which the owner and manager persuade the employees that they should voluntarily do their jobs as best as possible

Question 7

Explain delegation

Answer 7

The process by which tasks are allocated to employees with the neccessary power and responsibility to enable them to the tasks

Question 8

Explain Disipline

Answer 8

It shapes the behaviour of employees so that their conduct helps to ensure the successful operation of the business

Question 9

List the management skills that a manager should have

Answer 9

-Technical skills
-Interpersonal skills
-Conceptual skills
-Diagnostic skills
-Communication skills
-Decision making skills
-Time management skills

Question 10

Explain technical skills

Answer 10

-Managers spend tine training sub-ordinates and answering questions about work related problems

Question 11

Explain interpersonal skills

Answer 11

The ability of a manager to communicate with, understand and motivate both individuals and groups

Question 12

Explain conceptual skills

Answer 12

The managers ability to see and understand the business as whole as well as how parts fit together

Question 13

Explain diagnostic skills

Answer 13

They enable a manager to visualise the most appropriate response to a situation.

They diagnose and analyse a problem in the business by studying symptoms and developing a plan

Question 14

Explain communication skills

Answer 14

A managers ability to convery ideas and information effectively and to receive ideas and information effectively

Question 15

Explain decision making skills

Answer 15

A managers ability to recognise and identify problems and opportunities to formulate alternative courses of action and implement the best solution to solve problems and capitalize on opportunities

Question 16

Explain time management skills

Answer 16

A managers ability to prioritize work, work effectively and efficiently and delegate responsibility effectively