Principle of Business

What is management?

• Managing committee for a business

• The process of bringing the liabilities and assets together

• The process of bringing factors of production together

One group to whom managers are responsible for is, society.

• True

• False

What is the role of a manager?

• To be the boss and direct different departments to succeed

• Organise people,resources and finances by setting up systems and procedures

• To manage a business

• Control the money what enters and leave the business

What does POSDCORB stand for according to the POB CSEC textbook?

• Profit,Organising,Supplier,Creativity,Owners,Reselect, Budgeting

• Planning,Organising,Staffing,Decision-making,Coordinating,Budgeting

• Planning,Organising,Staffing,Directing,Coordinating,Reporting and Budgeting

Which is NOT a function of Management?

• Planning.

• Organising.

• Employing.

• Budgeting.

Organising and Planning are two functions of management. They are the same.

• True.

• False.

Groups to whom managers are responsible for are:

• Owners/Shareholders

• Family

• Society

• Employees/Customers

• Government

A shareholder is anyone who has an interest in a business.

• True

• False