Eight Business Functions

Question 1

General management

Answer 1

Creates a vision and a mission for the business and ensures that these are achieved through the goals and objectives of the business.

Question 2

What resources make it possible for a business to reach its goals and objectives?

Answer 2

Effective planning, organizing, activating, leading, directing and controlling.

Question 3

3 levels of management

Answer 3

Top
Middle
Lower

Question 4

Top management

Answer 4

Responsible for whole business
Planning
Long- term strategic decisions
CEO, chairman of a board, management committee

Question 5

Middle level management

Answer 5

Responsible for certain functions
Medium- term tactical decisions
Monitor activities within department
Manager

Question 6

Lower level management

Answer 6

Responsible for smaller work areas
Implement objectives
Short -term Day-to-day decisions
Offer suggestions and feedback to middle
Basic teacher, supervisor in sales

Question 7

Management tasks

Answer 7

Top management : planning, organizing, control

Lower managers: leading

Question 8

What is planning?

Answer 8

Planning is the process in which a manager considers the future, set goals and objectives and decides how to carry out the activities of the business to achieve its goals and objectives.

Question 9

Steps of planning:

Answer 9

1. Get all the info needed
2. Analyze the info and set long- term goals
3. Consider different plans to achieve the goals
4. Choose best plan and decide on action to be taken
5. Decide on back-up plan
6. Implement the chosen plan
7. Follow up make sure plan is successful, adjust it or change to back up if necessary.