GENERAL KNOWLEDGE

Detailed explanation-1: -Once standards are set in a department, they should not be revised. Procedures can be developed to describe how a policy should be implemented. An organizational chart is a visual device that lists the policies and procedures of a business.

Detailed explanation-2: -In order to be effective, a business plan should always be in writing. Effective planning is less important to the success of a business than other management functions, such as organizing, implementing, and controlling. The results of strategic planning are goals and strategies that guide the entire business.

Detailed explanation-3: -Controlling involves ensuring that performance does not deviate from standards. Controlling consists of three steps, which include (1) establishing performance standards, (2) comparing actual performance against standards, and (3) taking corrective action when necessary.

Detailed explanation-4: -The basic five functions of management are planning, organizing, staffing, directing, and controlling.

Detailed explanation-5: -Organizing: is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives.