MNG2602 BUSINESS MANAGEMENT UNIVERSITY ASSIGNEMNT 1

1. Management is the process of working with and through others to achieve business objectives, by balancing effectiveness and efficiency and by making use of scarce resources, in a changing environment. 2. Sustainability focuses on the triple bottom line of the organization, related to the systematic social, environmental and _____ issues. 3. Planning involves the allocation of organizational resources to relevant departments or individuals and the definition of tasks, roles and responsibilities to achieve organizational goals. 4. Which one of the following is an example of the informal management of business ethics? 5. _____ an implicit agreement whereby members of society grant organizations the license to operate through public consent, with the expectation that organizations will address certain societal needs. 6. According to the stakeholder salience model, _____ stakeholders are likely to have a formal mechanism in place that acknowledges the legitimacy of the relationship with the organization. 7. The four functions of a manager are (i) _____; (ii) _____; (iii) _____; and (iv) _____. 8. _____ play(s) an important role in the informal management of business ethics. 9. The structuring of an organization into a hierarchy, where the organization and its members are governed by clearly defined rational decision-making rules is known as _____ management. 10. The performance of five managerial functions for successful management, namely planning, organizing, coordinating, commanding and control is the essence of _____ management. 11. Directing and coaching are branches of _____ skills that a manager should have. 12. _____ is based on four pillars, namely the systems approach, a customer focus, people involvement and a process of continuous improvement. 13. Mintzberg’s three categories of managerial roles are (i) _____; (ii) _____ and (iii) _____. 14. Which one of the following principles of the United Nations Global Compact (UNGC) highlights that businesses should undertake initiatives to promote greater environmental responsibility? Principle 15. Which one of the following researchers was best known for his/her contribution to the bureaucratic approach to management?