Concepts of management Flashcards
1
Q
what do organisations transform
A
resources into results
2
Q
types of transformed resources
A
- material
- time
- capital
3
Q
types of transforming resources
A
- labour
- energy
- info
4
Q
what are the results/output from an organisation
A
- product/service
- by-products
5
Q
process of management (4 functions) and explain
A
- planning
- organising
- leading
- controlling
6
Q
2 ways to measure performance (and explain)
A
- efficient (using as few resources as possible)
- effective (achieving goals)
7
Q
who are stakeholders
A
anyone with an interest in the business
8
Q
differences between top managers, middle managers and supervisory managers
A
- higher level managers have more of a liaison role
- lower level managers have more of a leader role
