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Principles Of Business > chapter 2 > Flashcards

chapter 2 Flashcards

1
Q

What is management

A

The use of tools to achieve the goals of the organization

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2
Q

What is a leader

A

Someone with the ability to organize influence and motivate within a team or organization to achieve agreed objectives

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3
Q

What are Good managers

A

Help to make employees more productive

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4
Q

What are Bad managers

A

Makes employees unlikely to meet its aims land objectives

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5
Q

What are organization and coordination

A

People’s and activities in order to achieve agreed aims and objectives

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6
Q

Examples of mangers

A

Directors,team leaders, supervisors,heads of departments m, head chief

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7
Q

Business management

A

A set task that help organizations to make the best use of their financial, human natural and human Mode resources

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8
Q

What are the Functions of management

A

Planning, motivating, communicating, staffing, delegating, coordinating, controlling, directing and

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9
Q

What is planning

A

Establish short term and long term goals and on formed from the leaders vision

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10
Q

What is S.M.A.R.T

A

S-specific
M-measurable
A-attainable
R-relevant
T-time passed

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11
Q

What is the Meaning of Specific

A

Must be specific and clear answer the six W’s

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12
Q

What is the Meaning of Measurable

A

Setting out clear quantifiable criteria for measuring the progress aid each goal

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13
Q

What is the meaning of Attainable

A

Goals should be possible the given period

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14
Q

What is meant by Relevant

A

Goals should be relevant they should be realistic

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15
Q

What is meant by Time based

A

What is expected during a specific period

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16
Q

What is Organizing

A

Ensure that all the necessary resources of factors of production are available they are effectively combined to achieve goals of the company

17
Q

What is Directing

A

Assigning task to employees ensuring that these are clear and achievable and in line with the overall goals

18
Q

What is Controlling

A

The performance of employees needs to be monitored against the standards of performance that have been set

19
Q

What is Coordinating

A

All the factors and department of the business function must work together to reach the overall organizational goal

20
Q

What is Delegating

A

Sharing work loads from middle and junior management mangers supervisors and floor employees

21
Q

What is Motivating

A

Creation of an enthusiastic about their job

22
Q

What do leaders do

A

Maximizes efficiency and achieve organizational goals

23
Q

What are the different leadership styles

A

Democratic or Autocratic

24
Q

What is a Democratic leader

A

When it is important to consult employers about important decisions that may affect their jobs and working conditions

25
Q

What is Autocratic

A

No time to consult with others and decisions are made quick

26
Q

What are Autocratic advantages

A
  1. Decisions made quick,
  2. There is a clear chain of command,
  3. New employees can be provided with clear directions
27
Q

What are Autocratic disadvantage

A

1.Employees may lack a sense of belonging,
2. Employees may become resentful towards the manager,
3. Worker creating and innovating may be stifled

28
Q

What are some Democratic advantage

A

Employees will feel a greater sense of belonging,
Teamwork is encouraged,
Worker creativity

29
Q

What are some Democratic Disadvantage

A

Decision making process is slow,
Employees personal preference may influence their decision making

30
Q

What is a laizer affair leader

A

Hands off manager they communicate aims and objectives to employees then leave them to organize for theirselves

31
Q

Advantages of laissez?

A

Employees feel belonging ,team work is encouraged, it provides scope for development of worker

32
Q

Disadvantage of laissez?

A

Decision making process is slow, personal preference in employees may affect efficiency,
Workers make decisions based on their preference

33
Q

What is a Charismatic leader

A

The leader has strong personality or charisma,inspiring others to follow them

34
Q

Advantages of charismatic leaders?

A

Employee developed loyalty to the leader

35
Q

Disadvantages of charismatic leaders?

A

The leaders strong person may influence employees to commit illegal activities or breach operating guidelines

36
Q

Responsibility of management?

A

Owners or shareholders: maximize profit, provide await financial reports, manage resources of firm efficiency

37
Q

Responsibility of Employees

A

Pay fair salaries, ensure safe and healthy working conditions, treat staff fairl and with respect

38
Q

Responsibility of Government

A

Pay all taxes due, comply with government regulations

39
Q

Responsibility of Customers

A

Provide goods after sale support, process customers complaints in a timely order, comply with consumer protection laws

Principles Of Business (4 decks)

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