BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Effectively
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Efficiently
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Both of them
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None of them
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Detailed explanation-1: -Achieve alignment so that individual and team objectives are supporting company goals. Make progress measurable and track it on an ongoing basis. Use a continuous feedback loop to provide coaching and support. Recognize individuals’ contribution and encourage development.
Detailed explanation-2: -These objectives are Survival, Profit and Growth of an organisation.
Detailed explanation-3: -The role of a manager is to provide common guidance and direction to the individual efforts for the fulfilment of organisational goals. Increasing the efficiency: Management helps in increasing the efficiency of the business by increasing productivity through efficient planning, organising, controlling and directing.
Detailed explanation-4: -Key organizational goals can also include: employee and management performance, productivity, profitability, innovation, market share and social responsibility goals.