(1a)Please refer to the given photos.Instruction: Answer the question below and be sure to follow the directions shown in the given picture. Please refer to the concept notes shown in the subsequent picture for your guide in answering the given question. Meaning and Funciions of MĩanagemeniWhat is it?Management is defined as:the process of coordinating and overseeing the work performance of individuals workingtogether in organizations, so that they could efficiently accomplish their chosen aims orgoais.the process of designing and maintaining an environment for efficiently accomplishingselected aims.Factors that contribute to a successfui management process:Coordination-the harmonious, integrated action of the various parts and processes ofan organization.Efficiency- it refers to the optimal use of scarce resources-human, financial, physicai,and mechanical-in order to bring maximum productivity.O Effectiveness- It also means "doing things correctly" when engaged in activities.L.Management functions include the following:O Planning is the determining of the organization's goals, defining strategic actions,developing activities, and allocating appropriate organizational resources needed toachicve them.O Organizing is the assigning of tasks, setting apart of funds, and bringing harmoniousrelations among the individuals and work groups/teams in the organization.E Staffing is the filling-up of the different job positions in the organization's structure.(The factors that influence this function include: size of the organization, types of jobs,number of individuals to be recruited, and some internal and external pressures.)Leading is the influencing/motivating of others to do their best so that their workefforts result in the achievement of organizational goals.O Controlling involves the evaluating and correcting, (if necessary,) of the workperformance of individuals or work groups/teams in order to make sure that they areall working towards a goal with less errors.!! Directions: Identify the following numbered statements and write P for planning, O fororganizing, S _for staffing, L for leading and C for controlling. In 1 to 2sentences, explain your answer. Use the answer sheet provided.1. Hiring and promotion, training and development, remuneration/salary, andperformance appraisal of employees2. Supervise, motivate and guide employees.3. Creating and correcting the necessary steps to achieve the target4. Creating organizational structure or hierarchy of the business, delegation ofauthority and creation of responsibilities and tasks.5. Deciding in advance, what to do, when to do it and how it's going to be done ordeciding the mission, vision and objectives of the organization.

The term management refers to the art of getting things done through others efforts. Managers in the…

(1a) Please refer to the given photos. Instruction: Answer the question below and be sure to follow the directions shown in the given picture. Please refer to the concept notes shown in the subsequent picture for your guide in answering the given question.

(1a) Please refer to the given photos. Instruction: Answer the question below and be sure to follow the directions shown in the given picture. Please refer to the concept notes shown in the subsequent picture for your guide in answering the given question.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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