ANSWERS TO STUDY QUESTIONS
1. Why is management important to society?
For a society to survive and prosper there must be maintained efficient and effective management of the production of goods and services.
2. Why is management important to individuals?
The management function is a source of employment to 18% of the growing work force. It offers good salaries, status, and opportunities for personal growth.
3. What is the role of the manager?
The role of the manager is to guide and combine the organization’s human and physical resources through specific tasks, and to encourage behavior toward attainment of organizational goals.
4. Define management.
Management is defined as a process of working with and through people and other organizational resources.
5. How are the four functions of management related?
Each management function is essential to ongoing processes, and all functions are interrelated so that the performance of one is dependent on the performance of all others.
6. Should excellence characteristics impact management functions?
According to Peters’ and Waterman’s In Search of Excellence, excellent companies exhibit eight distinctive characteristics. Parts of each of those attributes can be related to the management functions.
a. Planning: Peters’ and Waterman’s related attributes consist of a bias for action, which limits the time spent planning; close to customers which focuses the planning for customer needs; and stick to the knitting, which assures that planning will be directed toward the right goals. b. Organizing: Peters’ and Waterman’s related attributes consist of simple form, lean staff for an uncomplicated organization; simultaneous loose-tight properties, which uses a decentralized organization guided by values more than policies; autonomy and entrepreneurship, which permits the structure to be more flexible. c. Influencing: Peters’ and Waterman’s related attributes consist of: productivity through people, which involves viewing people as resources, not just tools; using teams and encouraging ideas through quality circles; hands on, value driven, which suggests the avoidance of “we/they” attitudes and instead connotes being approachable by workers who share corporate values. d. Controlling: Peters’ and Waterman’s related attributes consist of some of those previously mentioned, such as simultaneous, loose-tight properties, a bias for action, and simple form, lean staff, which suggests that control is best accomplished through commonly shared values and a simple and responsive system which is uncluttered by policies and procedures.
7. What resources do managers have available?
a. People or human resources: this includes the employees as well as their skills and knowledge. b. Monetary resources: the financial resources needed to do business. c. Raw materials: the physical ingredients used in operations. d. Capital resources: the machines and equipment used in operations.
8. How do resources relate to production?
The resources serve as the inputs, which are then combined to produce outputs or production.
9. Describe managerial effectiveness.
It is managers’ ability to accomplish organizational goals through the utilization of available resources.
10. Describe managerial efficiency.
Efficiency relates to the amount of inputs required to produce outputs, or how many outputs are produced by the inputs. The higher the proportion of inputs or resources contributes to productivity, the more efficient the manager.
11. What is “the universality of management”?
The basic management functions and skills are applicable to all kinds of organizations—whether business or nonbusiness, profit or nonprofit. The only difference is the emphasis which may be placed on certain management functions and skills.
12. What is a career?
A career is an individual’s sequence of work-related...
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