Management Basics
What are the four basic functions of management?
Planning, Organizing, Leading, Controlling
An employee keeps interrupting customers while they're speaking. What communication skill should they improve?
Active listening
A company provides training to new employees before they begin working. What is the primary purpose of employee training?
Improve employee performance and productivity.
Which financial statement shows a company's revenues and expenses over a period of time?
Income Statement
A manager creates a weekly work schedule and assigns employees to different shifts. Which management function is being demonstrated?
Organizing
A team has missed three project deadlines because members were unsure of their responsibilities. What management issue is most likely causing the problem?
Poor communication / unclear delegation
A business frequently runs out of popular products because inventory isn't monitored. Which business function needs improvement?
Operations management (inventory management).
Why is creating a budget important for a business?
To plan spending, control costs, and allocate resources effectively.
A company notices customer complaints have increased. The manager reviews performance data and creates a plan to improve service quality. Which two management functions are shown?
Controlling and Planning
A business is expanding quickly but doesn't have enough trained employees to maintain quality. Which area of management should be strengthened?
Human resource management / employee training
Before opening a new location, a business studies competitors, customer demand, and costs. What management process is this part of?
Strategic planning
A manager must choose between investing in new equipment or hiring additional employees. What type of managerial skill is most important?
Decision-making / analytical thinking