Principles

    Master this deck with 20 terms through effective study methods.

    Generated from uploaded handwritten-notes

    Created by @beebee

    What defines management?

    Accomplishing results through the efforts of others.

    What are the 5 Ms in management?

    Money, Man, Materials, Methods, Machinery.

    What is a key characteristic of management?

    Involves organized activities towards a common objective.

    How does management differ from leadership?

    Management focuses on execution, while leadership inspires and sets goals.

    What is the role of planning in management?

    Setting objectives and determining necessary steps to achieve them.

    What is the significance of objectives in management?

    They provide direction and define the purpose of activities.

    What are the managerial functions?

    Planning, organizing, staffing, directing, controlling.

    What distinguishes a tactical plan from a strategic plan?

    Tactical plans bridge the gap between strategic and operational plans.

    What is the purpose of a contingency plan?

    To address unexpected events or crises.

    What is the role of a manager as a resource allocator?

    Decides how to use available resources to enhance performance.

    What does the SMART criteria stand for?

    Specific, Measurable, Achievable, Relevant, Time-bound.

    What is the essence of the managerial role in communication?

    Facilitates information flow within and outside the organization.

    What is the difference between management and administration?

    Management focuses on execution; administration involves broader oversight.

    What is the importance of risk assessment in planning?

    Identifies potential risks to mitigate them effectively.

    What is the function of a Gantt chart?

    Visual tool to illustrate project timelines.

    What does benchmarking involve?

    Comparing processes or products against competitors.

    What is the role of a manager as a negotiator?

    Works out agreements that benefit the organization.

    What is the significance of continuous improvement in management?

    Aims for perfection through constant practice and learning.

    What is the focus of operational plans?

    Detail day-to-day activities for short-term objectives.

    What is the role of a manager in problem-solving?

    Identifies issues and develops solutions to enhance performance.