Lesson 1. Business Management Functions

Question 1

Five Management Functions which have been used by all types of organizations?

Answer 1

Planning
Organizing
Staffing
Directing and Leading
Controlling.

Question 2

Refers to making decisions on what to do, how to do it, when to do it and who should do it.

Answer 2

Planning

Question 3

Entails the efforts to put together the human, physical, financial, and information resource
needs to get the business going. This is necessary to attain the objectives of the enterprise.

Answer 3

Organizing

Question 4

Involves selecting, hiring and firing and assigning persons to their work in the organization. It is
also concerned with the provision of fair and attractive compensation package so that staff members will
do their work well.

Answer 4

Staffing

Question 5

Requires an entrepreneur to stimulate high performance of employees through leadership,
motivation and good communication. It is a must that you practice constant orientation, and
re-orientation, provision of inspiration and proper motivation across all levels of the organization.

Answer 5

Directing

Question 6

The overall exercise of an effective command and control on the different aspects of the
enterprise. The leader is the at the helm and must use a leadership style appropriate to the kind of
organization and people being led.

Answer 6

Leading

Question 7

Involves the proper monitoring of the progress of the business, taking corrective actions to
eliminate or at least minimize negative events and adopting a system that works well in the activities of
the organization.

Answer 7

Controlling