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Definitions of management
Several definitions of management have been given by different scholars. Mary Follet defined management as "having work done through others." Another popular definition is that "management is a set of activities directed at the efficient utilization of resources in pursuit of one or more goals. (Therefore according to this definition management is a process of achieving goals). This process involves four major activities; planning, organizing, directing and controlling.
The key characteristics of management are that:a) Management is systematic i.e. it is a process that follows certain activities.
b) Management is pervasive i.e. it is practised in all organizations, private and public, small and big, social and business and at all levels in these organizations. In other words management is universal.
c) Management is complex i.e. it involves several different activities that managers must engage in and which keep varying or changing frequently.
What is the principle of parity of authority and responsibility? The principle of parity of authority and responsibility states which in delegating; managers should match the r
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The culture of the organisation will be strongly affected by the history of changes in the organisation and how they were accomplished.Culture is related to shared values and belie
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C ommunication and reporting Effective communication among all project stakeholders is a leading factor to the success of a project. Sharing knowledge empowers every project s
Which of the following statements about variable and fixed expenses, as they relate to relevance , is/ are true? (1) Variable expenses may or may not be, relevant costs? (2) Varia
Q. Why do projects always seem to cost more than expected? In general this seems to stem from three causes. The first may merely be an overly optimistic cost estimate. Sometime
J, the Finance Director, is preparing for an important negotiation with P, the Marketing and Sales Director, regarding the way the company's sales targets will be set in the future
Improving the quality of manufactured parts and decreasing the production cycle time requires the use of high powered software programs integrated with computer controlle
The influence an organisation will normally have over its macro environment will be Limited or non existent
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