MAIN RESOURSES OF MANAGEMENT
WHAT ARE THE MAIN RESOURCES OF MANAGEMENT?
HUMAN, MATERIAL, INFORMATION AND FINANCIAL RESOURSES
What are the levels of management?
Three general levels of management: top managers, middle managers and first-line managers.
Why are communicational skills essential for managers?
A communicational skill is the ability of manager to share his ideas and opinions with other people both orally and in writing. This skill is a decisive factor of a manager's success
What are the most common areas of management ?
The most common areas are finance, operations, marketing, human resources, and administrations
What can you say about management in general?
management is the process of coordinating the resources of an organization to achieve the primary organizational goals.
Material resources are ...
physical material and the equipment used by an organization to make a product
Their main role is to guide and control the overall activities of the organization and develop its mission.
What does an analytic skill help a manager do?
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It helps a manager identify the main problem among many and find the causes before taking action.
What is a financial manager responsible for?
A financial manager is primarily responsible for the organization’s financial resources. Accounting and investment are specialized areas within financial management.
What is management based on?
Management is based on scientific theories and is considered a developing science.
What do firms use to keep employees content?
They use incentives such as higher-than-average pay, flexible working hours, recreational facilities, paid vacations, and inexpensive cafeterias.
What decisions are top managers responsible for making?
They are responsible for making strategic decisions, including planning, setting goals, and determining major policies.
Why is decision-making skill important for managers?
It is important because managers must choose the best actions, set goals, decide on strategies, allocate resources, and control activities.
What is a marketing manager responsible for?
A marketing manager is responsible for the exchange of products between the organization and its customers or clients. Specific areas within marketing research, advertising, promotion, sales, and distribution
What does practical application of management knowledge require?
It requires certain abilities or skills.
What are financial resources used for in organizations?
Financial resources are used to meet obligations to creditors and to pay for expenses like salaries, bills, and supplies.
They implement strategies by developing tactical plans, policies, and standard operating procedures.
They coordinate and supervise the activities of first-line managers to ensure tasks are completed effectively.
What is a conceptual skill?
A conceptual skill is the ability of a manager to see the overall picture of the organization and understand how different parts work together.
What does an administrative manager coordinate?
An administrative ( also called a general manager) is not associated with any specific functional area but provides overall administrative leadership. A hospital administrator is a good example of an administrative manager. He or she does not specialize in operations, finance, marketing, or human resources managers but coordinates the activities of specialized managers in all these areas.
What is more important than the number of managers in an organization?
The ability of managers to achieve organizational goals is more important.
Why is information important for organizations today?
Because the external environment changes rapidly, organizations need information to understand changes and adapt in order to survive and stay competitive.
They supervise employees, answer questions, and solve day-to-day problems.
They work closely with employees, give instructions, provide support, and ensure work is done properly.
What is included in administrative skills?
Administrative skills include following organizational rules, managing within a budget, and coordinating information and paperwork.
What is a human resources manager responsible for?
A human resources manager is in charge of the organization’s human resources programs. He or she engages in human resources planning, design systems for hiring, training, and appraising the performance of employees, and ensures that the organization follows government regulations concerning employment practices
How does the size of an organization affect the number of managers?
Large organizations employ many specialized managers, while small organizations may have only one manager.