Nature of Management and Change

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What is effective management?

Back

Coordinating business resources to achieve specific goals in the most efficient and effective way.

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What are interpersonal skills in management?

Back

The ability to communicate, motivate, lead and inspire people to work well together.

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What is communication in a business context?

Back

The clear exchange of information between people; can be verbal, non-verbal, written, or oral.

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What does strategic thinking involve?

Back

Seeing the business as a whole and planning long-term goals accordingly.

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What is a manager’s vision?

Back

A clear, shared sense of direction that guides business decisions and actions.

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Define problem-solving in management.

Back

Identifying, analysing, and resolving issues that arise in the business.

Front

What is decision-making in business?

Back

Choosing the best course of action among alternatives.

Front

Define flexibility in management.

Back

The ability to adapt quickly to changing situations.

Front

What does it mean to reconcile conflicting stakeholder interests?

Back

Balancing the different and sometimes opposing needs of stakeholders.

Front

What are the six business goals?

Back

Profit, market share, growth, share price, social, and environmental goals.