Philip DeSimone Principles of management
Jon Bryan Chapters 1-6
Due 10/7/2017
Define efficiency and effectiveness and explain their relationship to the process of management.
Efficiency is the time it takes an employee to complete a specific task. If an employee is efficient in their job they will complete their task in the least amount of time possible. Also the employee will try to use the least amount of resources possible by developing useful and time saving strategies that benefit them in the workplace. Effectiveness is the results of an employee's actions and how well they perform their task. If they are efficient and their strategies are effective the employee will prodnj duce high-quality results.
List and briefly define the four functions of management.
The four functions of management are planning, organizing, leading and controlling. We use these four functions as our backbone before looking at other parts of …show more content…
1. Growth strategy is a type of plan used to increase company profits, market share, revenues or the number of places the company does business. 2. Stability strategies are used in allowing the company to keep doing what it has been doing, keeping things the way they are. 3.Retrenchment strategies is used when a company is doing very poorly and they shrink the size of the company, or shut down lines of the business.
How do companies use situational analyses and what are the basic components of a situational analysis?
Companies use situational analysis for strength, weaknesses opportunities and threats. This is also known as SWOT analysis. The strengths and weaknesses are an assessment of the internal environment. The company also assesses opportunities and threats in the external environment. SWOT helps determine how to increase internal strengths and minimise weakness. Also helps maximizing opportunities and minimising
Jon Bryan Chapters 1-6
Due 10/7/2017
Define efficiency and effectiveness and explain their relationship to the process of management.
Efficiency is the time it takes an employee to complete a specific task. If an employee is efficient in their job they will complete their task in the least amount of time possible. Also the employee will try to use the least amount of resources possible by developing useful and time saving strategies that benefit them in the workplace. Effectiveness is the results of an employee's actions and how well they perform their task. If they are efficient and their strategies are effective the employee will prodnj duce high-quality results.
List and briefly define the four functions of management.
The four functions of management are planning, organizing, leading and controlling. We use these four functions as our backbone before looking at other parts of …show more content…
1. Growth strategy is a type of plan used to increase company profits, market share, revenues or the number of places the company does business. 2. Stability strategies are used in allowing the company to keep doing what it has been doing, keeping things the way they are. 3.Retrenchment strategies is used when a company is doing very poorly and they shrink the size of the company, or shut down lines of the business.
How do companies use situational analyses and what are the basic components of a situational analysis?
Companies use situational analysis for strength, weaknesses opportunities and threats. This is also known as SWOT analysis. The strengths and weaknesses are an assessment of the internal environment. The company also assesses opportunities and threats in the external environment. SWOT helps determine how to increase internal strengths and minimise weakness. Also helps maximizing opportunities and minimising