Management Flashcards
What is management?
This is the process of organizing available resources of a business and coordinating activities/people to achieve agreed upon goals
Name seven functions of management
delegating
planning
coordinating
organizing
motivating
leading
supervising
Define planning
The systematic process of setting goals and means to achieve those goals to satisfy organizational objectives
Define organizing
This is the process of structuring resources, tasks and activities to achieve desired objectives. It also inccludes obtaining necessary information on each task beforehand to ensure it is done efficiently
Define directing
This is when managers guide subordinates by giving them instructions to perform given tasks
Define delegating
Delegating is giving subordinates the authority to carry out specific tasks, make decisions and ensure that others are completing their tasks. This reduces the manager’s workload.
Define controlling
When a manager measures activites of subordinates against planned performance ensuring everything conforms to the plan
Define coordinating
Managers must ensure that everything runs smoothly and harmoniously
Define motivating
This is when managers ensure subordinates are inspired to perform tasks well
List the people who managers have a responsibility to
owners, employees, customers, society, the government
What is a manager’s responsibility to the owner?
Their responsibility is to ensure efficiency in every aspect of the business
What is a manager’s responsibility to the employees?
To ensure they’re paid fair wages and have good working conditions
What is a manager’s responsibility to the customers?
To ensure all products or services are of good quality and reasonably priced
What is a manager’s responsibility to society?
To ensure that the business disposes of harmful waste properly and find ways to reduce harmful air pollution
What is a manager’s responsibility to the government?
To ensure the business follows all government regulations and legislations
