Review Questions 1. What is benchmarking? Creating a blueprint by looking at the paths taken by organizations similar to the one whose plan you are developing. Using this method you follow the recommended or existing practices of a similar organization or industry-developed standards. 2. What is the standard of due care? How does it relate to due diligence? Due care are the organizations that adopt minimum levels of security to establish a future legal defense may need to prove that
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Typical stakeholders in an organisation include: * Employees: They want to keep their employment‚ good rates of reward and also promotional opportunities. * Suppliers: They want to feel valued by the company and want frequent orders with prompt payments. * Owners: In a company it would be the stakeholders. They are often thought to be the most important stakeholders as they have set up the business and invest a lot of time into it to make it successful. Owners want to see their
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Discuss collectivism as it applies to Japanese workplace. What managerial functions does it affect? The work group is the essential element of the Japanese business world. When conducting business in Japan‚ strong relationships and loyalty to the group are critical for success. The Japanese tend to be withdrawn in their ways‚ and aren’t open to outsiders input. They are very relationship concerned and the group they belong to is their priority. According to Japanese belief‚ everyone gains when each member
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Table of Contents * The meaning of Management * Management Functions and Process * Management Approaches * Motivation Theory * The Meaning of Management Management may be defined in many different ways: “Management is the development of people and not the direction of things” - Lawrence A Appley “Management is defined as the process by which a co- operative group directs action towards common goals” - Joseph Massie “Management is a distinct process consisting of planning
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THE HISTORICAL ROOTS OF CONTEMPORARY MANAGEMENT PRACTICES The Premodern Era Organized activities and management have existed for thousands of years‚ for example‚ the construction of the Egyptian pyramids and the Great Wall of China. Michelangelo‚ the genius artist of the Renaissance era‚ was a manager himself. In order to paint the ceiling of the Sistine Chapel and other great things‚ he personally selected his workers‚ trained them‚ and assigned them to one or more teams‚ and he kept detailed
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Difference between Administration /Management Answer: There are many factors according to which administration can be distinguished from management. These are as follows: Nature of work Administration: It is concerned about the determination of objectives and major policies of an organization. Management: It puts into action the policies and plans laid down by the administration. Type of function Administration:It is a determinative function. Management: It is an executive function.
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NAME :- SUNIL KUMAR DHAKA SUBJECT:- PRINCIPLES & PRACTICE OF MANAGEMENT ANSWER:- 1(a) FUNCTIONS OF MANAGERS: All the managers have to perform certain functions in the organization to get the things done by the others. Functions of management are:- a) Planning b) Organising c) Staffing d) Leading e) Controlling f) Coordination (a) Planning: - Planning is an indispensable function of management. It determines the objectives to be achieved and the course
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systematic arrangement of work is the organizational structure. Organizational structure is composed of functions‚ relationships‚ responsibilities‚ authorities and communications of individual within each department. Organization structure can be of two types: flat and tall organization structure. Flat organization structure is a decentralized organic structure. It encourages high employee involvement in decision-making. The purpose of this structure is to create independent small business that can
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ashworth college | BM410: Sales Management & Practices | Assignment 08 | | Wayne Clough | 7/16/2013 | | Wayne Clough Student Number: AC1302019 BM410: Sales Management & Practices Assignment 08: 1. I would like to start off my paper by briefly describing the criteria identified for assessing salespersons effectiveness‚ and how the sales managers ally these criteria to the sales performance evaluations. The three criteria that are used include; outcome based measures
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First Semester EMBA Subject: Principles and Practices of Management Roll No: EMBA1/MAR13/9011 Exam Registration No. is AG13/N/607 Ques1: Management is what Management does. Justify the statement and explain. Ans: MEANING OF MANAGEMENT ’Management is the executive function that concerns itself with the carrying out of the administrative policies laid down by administration. Management directs the active operations within the enterprise and combines the work of the employees with the
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