Management Principles Applications NotesMarch 20, 2023
MANAGEMENT PRINCIPLES AND APPLICATIONS : 1ST SEMESTER B.COM NEP
BANGALORE CITY UNIVERSITY
Source and Credits : Indeed, Wikipedia and others.
TWO MARKS QUESTIONS AND ANSWERS
Unit 1: Introduction to Management
1) Mention the levels of Management.
Ans) The three levels of management in most organizations are top-level management, mainly responsible for overseeing all operations, middle-level management, responsible for executing plans and policies, and low-level management, responsible for direct task execution and deliverables.
2) Define Management?
Ans) Management is the process of planning and organising the resources and activities of a business to achieve specific goals in the most effective and efficient manner possible. Efficiency in management refers to the completion of tasks correctly and at minimal costs. Effectiveness in management relates to the completion of tasks within specific timelines to yield tangible results.
3) Give functions of Management?
Ans) Decision-making, planning, staffing, directing and controlling are the main functions of management.
4) What is Policy?
Ans) Policy is a deliberate system of guidelines to guide decisions and achieve rational outcomes. A policy is a statement of intent and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization