Mng3701 assignment 1 200+ questions and answers 2022/2023
Purpose of Business Organisation - answer;* To the Entrepreneur it is the profit he
makes from his business
* To the consumer it is the value of the service or product
* To employees it is their salary/wage earned
* To an organization it can be selling shares to shareholders
Stakeholders - answer;Any person or group of people that have (or claim to have) an
interest in an organization and its activities.
Stakeholder Expectations - answer;* Customers - quality products and good service
* Suppliers - payment on time
* Community - contribution in form of sponsorships or community projects
* Organized labor - treat employees with fairness, dignity and respect
Internal Stakeholders - answer;Work directly within the organisation - business owners,
shareholders, investors, employees and management
External Stakeholders - answer;Not directly associated with the organization -
community, government, organized labor (trade unions), customers, suppliers.
Triple Bottom Line (Expected from Organizations) - answer;* Be profitable
* Take responsibility for the physical environment
* Meet is social responsibilities towards the community in which it operates
Manager - answer;The person responsible for running a part of or an entire organization
Management - answer;The interlocking functions that managers perform.
Management Process - answer;"The process of working with and through others to
achieve organizational objectives in a changing environment."
Management Process Characteristics - answer;* Management is a process
* Management entails working with and through others
* Management aims to contribute to the realization of organizational goals and
objectives
* Management needs to cope with a changing environment
Interrelated Management Tasks - answer;* Planning
* Organising
* Leading
* Control
Micro (internal) environment - answer;Functions, policies, strategies, goals, objectives
and available resources.
Purpose of Business Organisation - answer;* To the Entrepreneur it is the profit he
makes from his business
* To the consumer it is the value of the service or product
* To employees it is their salary/wage earned
* To an organization it can be selling shares to shareholders
Stakeholders - answer;Any person or group of people that have (or claim to have) an
interest in an organization and its activities.
Stakeholder Expectations - answer;* Customers - quality products and good service
* Suppliers - payment on time
* Community - contribution in form of sponsorships or community projects
* Organized labor - treat employees with fairness, dignity and respect
Internal Stakeholders - answer;Work directly within the organisation - business owners,
shareholders, investors, employees and management
External Stakeholders - answer;Not directly associated with the organization -
community, government, organized labor (trade unions), customers, suppliers.
Triple Bottom Line (Expected from Organizations) - answer;* Be profitable
* Take responsibility for the physical environment
* Meet is social responsibilities towards the community in which it operates
Manager - answer;The person responsible for running a part of or an entire organization
Management - answer;The interlocking functions that managers perform.
Management Process - answer;"The process of working with and through others to
achieve organizational objectives in a changing environment."
Management Process Characteristics - answer;* Management is a process
* Management entails working with and through others
* Management aims to contribute to the realization of organizational goals and
objectives
* Management needs to cope with a changing environment
Interrelated Management Tasks - answer;* Planning
* Organising
* Leading
* Control
Micro (internal) environment - answer;Functions, policies, strategies, goals, objectives
and available resources.
