MNG2601 Chapter 5EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW!!
Explain how the process, systems, contingency and responsible approaches to
management, in combination, can provide us with the necessary background to
understand the management environment.
The Process Approach - Gives us an understanding of what management does at
all levels and with each piece of the management environment. Planning,
Organising, Leading and Controlling.
The Systems Approach - Gives us a framework on how to view each individual
piece of the environment is modelled and how they relate to each other. i.e. Each
is viewed as a an open system, composed subsystems that are all interrelated and
interdependant.
The Contigency Approach - Gives us an understanding that the environment is
constantly changing and that each situation is different. Taking this into account
each manager must apply the management principles to suit the situation.
The Responsible Approach - This refers to applying the principles of Sustainability,
Responsibility and Ethics at all levels and activities of the managment process.
Distinguish between the terms strength, weakness, opportunity and threat.
Strengths - Elements or areas in a business where the business excels at and are
what separate it from the competition.
Weaknesses - Areas where a business needs to improve in order to stay
competitive.
Opportunities - Favourable external factors that could give the business a
competitive advantage.
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW!!
Explain how the process, systems, contingency and responsible approaches to
management, in combination, can provide us with the necessary background to
understand the management environment.
The Process Approach - Gives us an understanding of what management does at
all levels and with each piece of the management environment. Planning,
Organising, Leading and Controlling.
The Systems Approach - Gives us a framework on how to view each individual
piece of the environment is modelled and how they relate to each other. i.e. Each
is viewed as a an open system, composed subsystems that are all interrelated and
interdependant.
The Contigency Approach - Gives us an understanding that the environment is
constantly changing and that each situation is different. Taking this into account
each manager must apply the management principles to suit the situation.
The Responsible Approach - This refers to applying the principles of Sustainability,
Responsibility and Ethics at all levels and activities of the managment process.
Distinguish between the terms strength, weakness, opportunity and threat.
Strengths - Elements or areas in a business where the business excels at and are
what separate it from the competition.
Weaknesses - Areas where a business needs to improve in order to stay
competitive.
Opportunities - Favourable external factors that could give the business a
competitive advantage.
