Lesson 1

Question 1

is the attainment of organizational goals effectively and efficiently using functions of; planning, organizing, leading, controlling, staffing, and coordination organizational resources.

Answer 1

Management

Question 2

Functions of management:

Answer 2

Planning
Organizing
Leading
Controlling
Staffing
Coordinating

Question 3

Setting objectives and outlining steps to achieve them.

Functions of management

Answer 3

Planning

Question 4

Arranging resources and tasks to accomplish objectives

Functions of management

Answer 4

Organizing.

Question 5

Guiding and motivating employees to achieve organizational goals.

Functions of management

Answer 5

Leading

Question 6

Monitoring and evaluating progress towards goals.

Functions of management

Answer 6

Controlling

Question 7

Recruiting, training, and retaining the right personnel.

Functions of management

Answer 7

Staffing

Question 8

Ensuring all parts of the organization work together harmoniously

Functions of management

Answer 8

Coordinating

Question 9

Interpersonal Roles

Manager’s Roles

Answer 9

Figurehead
leader
Liasion

Question 10

Informational Roles

Manager’s Roles

Answer 10

Monitor
Disseminator

Question 11

Decisinal Roles

Manager’s Roles

Answer 11

Spokesperson
Entpreneur
Disturbance handler
Resource allocator
Negotiator

Question 12

Conceptual Skills
= Ability to solve long-term problems and view the total organization as an interactive system

Managerial Skills

Answer 12

Top Level Management

Question 13

Human Relations Skills
= Ability to work effectively, lead and assure harmonious interpersonal relations.

Managerial Skills

Answer 13

Middle Level Management

Question 14

Technical Skills
=Ability to use tools, apply specialized knowledge, and manage techniques

Answer 14

Lower Level Management

Question 15

Importance of Management Principles:

Answer 15

Efficiency
Effectiveness
Consistency
Adaptability
Accountability

Question 16

Streamlines processes to maximize productivity.

Importance of Management Principles

Answer 16

Efficiency

Question 17

Helps in achieving organizational goals

Importance of Management Principles

Answer 17

Effectiveness

Question 18

Establishes standard practices and procedures.

Importance of Management Principles

Answer 18

Consistency

Question 19

Aids in responding to changing environments and challenges.

Answer 19

Adaptability

Question 20

Clarifies roles and responsibilities, ensuring

Answer 20

Accountability

Question 21

The hoods or services offered by a business to meet customer needs. This includes design, features etc.

7 Ps of Marketing

Answer 21

Product

Question 22

Use of advertising, sales promotion, public relations, and personal selling to communi-cate product benefits

7 Ps of Marketing

Answer 22

Promotion

Question 23

The amount customers pay for the product, costs, competitor pricing, and customer-perceived value

7 Ps of Marketing

Answer 23

Price

Question 24

Distribute products where customers can conve – niently purchase them, including selecting the right retail location

7 Ps of Marketing

Answer 24

Place

Question 25

Provide tangible proof of product quality and service, such as packaging, branding materials, and testimonials. ## Footnote 7 Ps of Marketing

Answer 25

Physical/ Environment

Question 26

Focus on both customers and employees, ensuring that staff are trained to deliver exceptional customer service and understand the brand value ## Footnote 7 Ps of Marketing

Answer 26

People

Question 27

Ensure efficient and customer friendly processes, form order handling and delivery to after-sales service. ## Footnote 7 Ps of Marketing

Answer 27

Process

Question 28

to understand customer needs, preferences, and trends. Use this data to inform product development and marketing strategies. ## Footnote Implementing Strategy

Answer 28

Market Research

Question 29

Segment the market based on demographics, psychographics, and behaviors. Target specific segments and position the product to meet their unique needs. ## Footnote Implementing Strategy

Answer 29

Segmentation, Targeting, and Positioning (STP)

Question 30

Build and maintain strong relationships with customers through personalized communication, loyalty programs, and excellent customer service. ## Footnote Implementing Strategy

Answer 30

Customer Relationship Management (CRM)

Question 31

Develop a strong brand identity and image that resonates with the target market and differentiates the product from competitors. ## Footnote Implementing Strategy

Answer 31

Branding

Question 32

Collecting and analyzing data to understand customer needs, preferences, and market trends. ## Footnote Funtions of marketing

Answer 32

Market Research

Question 33

Designing and creating products that meet customer needs and preferences. ## Footnote Funtions of marketing

Answer 33

Product Development

Question 34

Communicate product benefits and persuade customers through advertising, sales promotions, and public relations. ## Footnote Funtions of marketing

Answer 34

Promotion

Question 35

Generating revenue by selling products or services to customers. ## Footnote Funtions of marketing

Answer 35

Sales

Question 36

Ensuring products are available to customers at the right place and time. ## Footnote Funtions of marketing

Answer 36

Distribution

Question 37

Setting appropriate prices based on costs, competition, and customer perceived value. ## Footnote Funtions of marketing

Answer 37

Pricing

Question 38

Providing support and building relationships to enhance customer satisfaction and loyalty. ## Footnote Funtions of marketing

Answer 38

Customer Service

Question 39

Developing strategic plans to achieve marketing goals and objectives. ## Footnote Funtions of marketing

Answer 39

Market Planning

Question 40

It refers to managing money and other financial resources in a business.

Answer 40

Business Finance

Question 41

Budgeting and forecasting future financial performance. Analyzing financial statements to make informed business decision. ## Footnote Function of Business Finance

Answer 41

Financial Planning and analysis

Question 42

Managing working capital to ensure the business can meet its short-term obligations. Securing long-term financing through loans, bonds, or investment ## Footnote Function of Business Finance

Answer 42

Capital Management

Question 43

Making strategic decisions on investing business funds in projects assets, or securities. Evaluating the potential ROI and associated risk. ## Footnote Function of Business Finance

Answer 43

Investment Management

Question 44

Monitoring and controlling costs to maximize profitability. Implementing cost-saving measures and optimizing allocation. ## Footnote Function of Business Finance

Answer 44

Cost Management

Question 45

Preparing and presenting financial reports to stakeholders, such as Statement of Financial Position, Income Statement, Cash Flow Statement ## Footnote Function of Business Finance

Answer 45

Financial Reporting

Question 46

Identifying and mitigating financial risks, including market, credit, and operational risks. ## Footnote Function of Business Finance

Answer 46

Risk Management

Question 47

The principle that a dollar today is worth more than a dollar in the future due to its potential earning capacity. ## Footnote Principles of Finance

Answer 47

Time Value of Money

Question 48

The principle that higher potential returns on investment come with higher risk. ## Footnote Principles of Finance

Answer 48

Risk and Return

Question 49

Spreading investments across various assets to reduce risk. ## Footnote Principles of Finance

Answer 49

Diversification

Question 50

The ability of an asset to be converted into cash quickly without significantly affecting its value. ## Footnote Principles of Finance

Answer 50

Liquidity

Question 51

Ensuring that the business generates more income than expenses over time. ## Footnote Principles of Finance

Answer 51

Profitability

Question 52

Using borrowed funds to increase the potential return on investment. ## Footnote Principles of Finance

Answer 52

Financial Leverage

Question 53

The theory that all available information is already reflected in asset prices, making it difficult to consistently outperform the market. ## Footnote Principles of Finance

Answer 53

Efficient Market Hypothesis

Question 54

The cost of funds used for financing a business, which includes the cost of debt and equity. ## Footnote Principles of Finance

Answer 54

Cost of Capital

Question 55

Ensuring that the business has enough cash to meet its obligations when they are due. ## Footnote Principles of Finance

Answer 55

Cash Flow Management

Question 56

Is the planning organizing, directing, and controlling of the procurement, developments, compensation, integration and maintenance and seperation of human resources to the end that individual, organizational and societal objectives are accomplished.

Answer 56

Human Resource

Question 57

Identifying staffing needs, attracting, and selecting the best candidates. ## Footnote Human Resources Functions

Answer 57

Recruitment And Selection

Question 58

Enhancing employees’ skills and capabilities. ## Footnote Human Resources Functions

Answer 58

Training And Development

Question 59

Evaluating and improving employee performance. ## Footnote Human Resources Functions

Answer 59

Performance Management

Question 60

Designing and managing employee remuneration and benefits. ## Footnote Human Resources Functions

Answer 60

Compensation And Benefits

Question 61

Maintaining positive employee – employer relationships. ## Footnote Human Resources Functions

Answer 61

Employe Relation

Question 62

Ensuring adherence to labor laws and regulations. ## Footnote Human Resources Functions

Answer 62

Compliance