MNB1501 Brief Questions with Adequately Approved
Answers Graded A++ Pass
2 main schools of thought - CORRECT ANSWER ✔✔ -1. The classical approaches
2. The contemporary approaches
3 management skills - CORRECT ANSWER ✔✔ -1. Conceptual skills: the mental capacity to
view the business and its parts in a holistic manner.
2. Interpersonal skills/ humsn relationd skills: the ability to work with people.
3. Technical skills: The ability to use the knowledge or techniques of s particular discipline.
4 basic resources in company - CORRECT ANSWER ✔✔ -1. Human resources (managers)
2. Financial resources (Shareholders)
3. Physical resources (Buildings)
4. Information resources (Market research reports)
4 supporting management activities - CORRECT ANSWER ✔✔ -1. Gathering and processing of
information to make decisions possible.
2. Decision-making
3. Communication
4. Negotiation
Business ethics - CORRECT ANSWER ✔✔ -A subset of ethics that focuses on deciding
between right and wrong in the workplace and in business generally.
, Combined Value-based and stakeholder-engagement processes - CORRECT ANSWER ✔✔ -
Ofther wmerges from an original emphasis on a values-based approach but develops in a
combination approach when the company moves from setting its own objectives aligned with its
values to involving its stakeholders. This allows the company to ensure that its strategy satisfies
its own needs as well as the needs of its stakeholders.
Corporate Citizenship (CC) - CORRECT ANSWER ✔✔ -is the recognition that the organization
is an integral part of the broader society in which it operates, affording the organization standing
as a juristic person in the society with the rights but also the responsibility and obligations.
Corporate Social Responsibility (CSR) - CORRECT ANSWER ✔✔ -Companies' acknowledged
responsibility to society. Is the responsibility of the company for the impacts of its decisions and
activities on society and the environment, through transparent and ethical behavior.
Executive Director - CORRECT ANSWER ✔✔ -Members of the management team who are
appointed to the board. They are full-time employees of the company. Have a role as senior
management.
Lower management (or supervisory management) - CORRECT ANSWER ✔✔ -is primarily
responsible for operational goals/plans.
Example product manager or sales manager in the marketing department.
Management - CORRECT ANSWER ✔✔ -The process of accomplishing the goals of an
organization through the effective use of people and other resources.
Management does 4 things - CORRECT ANSWER ✔✔ -1. Planning - what should be done
Answers Graded A++ Pass
2 main schools of thought - CORRECT ANSWER ✔✔ -1. The classical approaches
2. The contemporary approaches
3 management skills - CORRECT ANSWER ✔✔ -1. Conceptual skills: the mental capacity to
view the business and its parts in a holistic manner.
2. Interpersonal skills/ humsn relationd skills: the ability to work with people.
3. Technical skills: The ability to use the knowledge or techniques of s particular discipline.
4 basic resources in company - CORRECT ANSWER ✔✔ -1. Human resources (managers)
2. Financial resources (Shareholders)
3. Physical resources (Buildings)
4. Information resources (Market research reports)
4 supporting management activities - CORRECT ANSWER ✔✔ -1. Gathering and processing of
information to make decisions possible.
2. Decision-making
3. Communication
4. Negotiation
Business ethics - CORRECT ANSWER ✔✔ -A subset of ethics that focuses on deciding
between right and wrong in the workplace and in business generally.
, Combined Value-based and stakeholder-engagement processes - CORRECT ANSWER ✔✔ -
Ofther wmerges from an original emphasis on a values-based approach but develops in a
combination approach when the company moves from setting its own objectives aligned with its
values to involving its stakeholders. This allows the company to ensure that its strategy satisfies
its own needs as well as the needs of its stakeholders.
Corporate Citizenship (CC) - CORRECT ANSWER ✔✔ -is the recognition that the organization
is an integral part of the broader society in which it operates, affording the organization standing
as a juristic person in the society with the rights but also the responsibility and obligations.
Corporate Social Responsibility (CSR) - CORRECT ANSWER ✔✔ -Companies' acknowledged
responsibility to society. Is the responsibility of the company for the impacts of its decisions and
activities on society and the environment, through transparent and ethical behavior.
Executive Director - CORRECT ANSWER ✔✔ -Members of the management team who are
appointed to the board. They are full-time employees of the company. Have a role as senior
management.
Lower management (or supervisory management) - CORRECT ANSWER ✔✔ -is primarily
responsible for operational goals/plans.
Example product manager or sales manager in the marketing department.
Management - CORRECT ANSWER ✔✔ -The process of accomplishing the goals of an
organization through the effective use of people and other resources.
Management does 4 things - CORRECT ANSWER ✔✔ -1. Planning - what should be done
