Business Management Chapter 1 Questions and Answers ( Certified solutions)

Business Management Chapter 1 Questions and Answers ( Certified solutions) Management - ANS- is the process of accomplishing the goals of an organization through the effective use of people and other resources. Planning - ANS- •involves analyzing information and making decisions about what needs to be done. Organizing - ANS- •is concerned with determining how plans can be accomplished most effectively and arranging resources to complete work. Staffing - ANS- focuses on finding individuals with the right skills to do the work. Leading - ANS- •requires working with employees to ensure they are motivated and have the resources needed to help carry out plans and get the work done. Controlling - ANS- •involves evaluating results to determine if the company's objectives have been accomplished as planned. Managers - ANS- •are people who complete all four management functions on a regular basis and have authority over other jobs and people. Supervisors - ANS- are managers whose main job is to direct the work of employees. Executives - ANS- •are top-level managers who spend almost all of their time on management functions and decisions that affect the entire company. Middle Managers - ANS- complete all of the management functions, but spend most of their time completing specialized work in one management function or are responsible for a specific part of the company's operations. Industrial Revolution - ANS- •was the era of the eighteenth and nineteenth centuries in which machine power replaced human and animal power in the production process, leading to major business and social changes. Management Science - ANS- ●is the careful, objective study of management decisions and procedures in order to improve the operation of businesses and organizations. Classical Management - ANS- studies the way work is organized and the procedures used to complete a job in order to increase worker productivity. Administrative Management - ANS- •identifies the most effective practices for organizing and managing a business. Behavioral Management - ANS- is directed at organizational improvement through understanding employee motivation and behavior. Quality Management - ANS- is a total commitment by everyone in an organization to improve the quality of procedures and products by reducing waste, errors, and defects. Business competition - ANS- is the rivalry among companies for customers. Management strategy - ANS- ●is a carefully developed overall approach to leading an organization