management Flashcards
how can management be defined?
It is the successful administration of a business, through careful planning, organisation of employees and resources and having clear objectives and targets to be attained.
the abbreviation POLC stands for what?
Planning
Organising
Leading
Controlling
a brief description of planning
defining the goals, formulating strategies to achieve the goals and then deciding how to implement the strategies.
a brief description of organising
the manger has to get the necessary resources to get the work done and to achieve his/her goals.
a brief description of leading
leading is about helping and guiding people to achieve the goals.
a brief description of controlling
involves monitoring performance in order to compare actual performance with the original goals.
what are some things that a manger must have?
- the necessary skills
- knowledge
- experience that all factors of production are combined in a manner that will ensure success for the business.
what are some decisions that mangers make?
- the hiring of employees
- what product/ service to sell and how to advertise it
- make sure the products are of good quality
- controls the finances of the business
- ensuring that customers are happy so that they will continually support the business
what are the six additional tasks?
1) coordination
2) communication
3) decision-making
4) delegating
5) discipline
6) motivation
a brief description of coordination.
regular meetings have to be held to ensure everybody in the business works together to achieve the same goals.
a brief description of communication.
the transfer of information, ideas and feedback between people in the business.
a brief description of decison-making.
the manager must decide what has to be done that is in the best interest of the business and staff members, but he/she can only do this once all facts have been considered.
a brief description of delegating,
the manager cannot do everything and therefore he/she has to give authority and responsibility to subordinates to ensure there is a fair distribution of tasks.
a brief description of discipline.
the purpose of disciplinary action is to improve the future behaviour and it may range from verbal warnings to dismissals.
a brief description of motivation.
the manager has to encourage staff members to work towards achieving the goals of the business.
what are the levels of management/
1) Top management [Boards of Directors and CEO]
2) Middle management [Functional managers]
3) Lower management [Supervisors]