Which of the following is the best definition for management?

  1. Managerial economics is The correct answer was: b. a field that applies economic theory and the tools of decision science.

Agreed with Mr Emad ..................................

Answer option __________________b

Option   b

-------------

Thanks

. a field that applies economic theory and the tools of decision science. Is rught

by Ayoub Tartir , PMP, GWCPgM, CISA, CISSP, CAP, CSSLP, FITSP-D, CEH, CHFI, CCNA, CCNA Security, Security+, Network+ , IT Security Expert , Information Unlimited Inc. (IUI)
7 years ago

My answer is also option (B)

by Nasir Hussain , Sales And Marketing Manager , Pakistan Pharmaceutical Products Pvt. Ltd.
7 years ago

 b. a field that applies economic theory and the tools of decision science.....................................................................................................

by mohamed badawy , Head Of Operations , Almajdoui Logistics Company
7 years ago

answer b............................................................................................

answer B ____________________________________

by Khaled Anwar , Senior Sales Engineer , "Automotive company''
7 years ago

The answer is : Option ( B )

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  • Why is this definition considering as the best definition of management?
  • Organizing:
  • Controlling:
  • Some Example of other definition of management
  • Why there are deference in management definitions
  • Related Articles:
  • What is the best concept of management?
  • Which one of the following statements best describes management?
  • Which of the following best describes management quizlet?
  • What are the 3 concepts of management?

Question 1

3.33 / 3.33 pts

As stated in the Study Guide, who is responsible for coining the term “Surveillance

Capitalism”?

Correct!

Shoshana Zuboff

Elizabeth Warren

Edward Snowden

Hal Varian

Question 2

3.33 / 3.33 pts

Which of the following are signs of economic de-globalisation?

(1) The rapid growth of cross-border capital movements.

(2) The rapid growth of international migration.

(3) The decline of international trade.

Correct!

Option (3) only.

Options (1) and (2).

All of the listed options.

Options (1) and (3).

Question 3

3.33 / 3.33 pts

The process of making legislation involves three readings. Which of the following best

describes the First Reading?

Major amendments to the Bill are effected during the First Reading.

The Bill is introduced but no discussion takes place on the Bill.

The Bill is introduced and debated during the First Reading.

Parliament decides during the First Reading whether the Bill should

be referred to a Select Committee.

Which one of the following statements is incorrect?

Contracts can occur on a daily basis.

All contracts must be in writing.

All contracts are agreements.

Contracts do not necessarily require consideration to

be enforceable.

Which one of the following is a requirement for promissory estoppel to be established?

The promisee relied on the promise to his detriment.

The promisee relied on the promise and altered his

position.

The promise was in writing.

The promisor and the promisee did not have an existing

legal relationship.

A parol contract is ____________.

preferred to a contract in writing because it is easy to ascertain

its precise terms.

a contract where there is no consideration.

often used for complex business transactions.

an oral contract which is valid and binding.

Which one of the following is correct?

Consideration is required in every promise and there is no room for

equitable doctrines.

The law will not interfere with the parties' bargain even if there is a

great discrepancy in the value of one party's promise.

Promissory estoppel may enable a promise which is not supported

by consideration to be enforceable.

Because of the significant and essential role that management plays in our lives, you will find many books and articles talking about management and its importance. That’s good. But this large volume of literature has produced many definitions of management. So the question became now what the best definition of management is?

The best definition of Management refers to the optimal way to accomplish tasks and achieve goals, using Planning, Organizing, Staffing, Directing, and Controlling functions or processes.

Additionally, a lot of important information regarding management and its works can be derived from this definition. This article will cover this information and more. Let’s go

Table of Contents

1

  • Why is this definition considering as the best definition of management?
  • Explanation of the best definition of management
  • Some Example of other definition of management
  • Why there are deference in management definitions
  • Conclusion
  • Related Articles:

Why is this definition considering as the best definition of management?

This definition, through simple words, was able to describe the mission of management and explain how to achieve this mission.

The mission of management is to accomplish tasks and optimally achieve goals. To reach its goals, the management use Planning, Organizing, Staffing, Directing, and Controlling functions.

As previously mentioned, much information can be deduced from the definition of management. The following sections show a detailed explanation of this information:

Optimal way: Management is described as an optimal way to accomplish tasks and achieve goals. From this part of the definition, you know that functions may be completed in many ways, but management is optimal to achieve goals.

An optimal way means ensuring goals and accomplishing tasks with fewer resources or without wasting resources.

Resources are all the capabilities that the management uses, for example, money, staff, time, technology, etc.

Using these functions Planning, Organizing, Staffing, Directing, and Controlling. From this part of the definition, you can know management is not a random operation. But instead uses specific steps to achieve its goals. These steps call management functions. And they are Planning, Organizing, Staffing, Directing, and Controlling.

Planning:

Planning refers to the process of defining goals, the future direction of the organization, determining the missions and resources needed to achieve those targets.

Planning is the first step in the management process, and it is about identifying the directions and strategies of the organization according to the resources available to the organization.

As well as planning aims to choose between alternatives to reach the best possible return for the organization.

Organizing:

Organizing refers to the process of coordinating and allocating an organization’s resources to carry out its plans. Organizing includes developing organization structure, positions, departments, activities, and authority relationships within the organization.

Organize helps all organization parts of working together as a single unit without conflict.

Organization requires setting up a formal structure of authority through which subdivisions of work are defined, arranged, and coordinated. Each part relates to the other part in a unified and coherent manner to achieve the set goals. This is the responsibility of organizing functions.

For more information about Organizing topics, you can read these related articles:

  1. What are the Organization Processes?
  2. Is Organizing Skill or Hobby?
  3. When Management is The Problem

Staffing:

Staffing refers to the process of obtaining the right employees with appropriate qualifications or experience and hiring them to fill a position or job.

Since human resource is the essential factor in the management process, it is important to hire the right employees. The Staffing function does this duty.

Also, the Staffing function works to maintain a qualified workforce for the organization. It includes recruiting, training, developing, and evaluating employees and providing appropriate incentives and motives…

Directing:

Directing refers to the process in which the managers instruct, guide, and oversee the performance of the employees to accomplish predetermined tasks and goals

The directing function is interested in leadership, motivation, communication, and supervision to do their activities efficiently.

Controlling:

Controlling refers to the process responsible for monitoring and analyzing the deviates to take proper corrective actions.

The function of control is responsible for those activities performed to ensure that things and actions do not deviate from the pre-arranged plans.

The main job of the control function is establishing metrics for work performance, measuring performance, comparing it to these set metrics, and taking corrective actions when required.

Some Example of other definition of management

  1. The American Management Association, define management as: ‘It is the act of getting things done through others and having them do it willingly’

    Many management thinkers have defined management in their own ways. The following sections show you some of them:

  2. ‘Management is a set of activities directed at the efficient and effective utilization of resources in the pursuit of one or more goals.’
  3. ‘Management is working with human, financial, and physical resources to achieve organizational objectives by performing the planning, organizing, leading and controlling functions‘.
  4. ‘Management is a problem-solving process of effectively achieving organizational objectives through the efficient use of scarce resources in a changing environment.’
  5. ‘Management is an art of knowing what to do when to do and see that it is done in the best and cheapest way ‘.
  6. ‘Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards the attainment of group goals‘.

There are many other definitions of management, and they are all different from one another. There are many reasons for this difference. The next section of the article will explain the most important of these reasons.

Why there are deference in management definitions

  1. Sometimes some thinkers view management from a different perspective than other thinkers. This causes them to give different definitions of management.
  2. Management is concerned with various aspects of life. So each field may see management on its own side. For example, in the medical field the management definition it may differ from management definition in the commercial and industrial field.

Conclusion

Management is essential for organizations and essential to running all kinds of operations. Good management is the backbone of successful organizations.

There are many definitions of management, but we have provided you with the best definition of management.

Management defines the optimal way to accomplish tasks and achieve goals, using Planning, Organizing, Staffing, Directing, and Controlling functions.

This definition sheds light on many aspects of management with specific words.

This definition contains the primary mission of management, which is the optimal way to accomplish the tasks and achieve goals.

Also, this definition contains the steps that the management follows to reach its goal. These steps are Planning, Organizing, Staffing, Directing, and Controlling functions or processes.


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What is the best concept of management?

At the most fundamental level, management is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading and controlling. These five functions are part of a body of practices and theories on how to be a successful manager.

Which one of the following statements best describes management?

The statement which best describes management is: Management is organizing complex resources to get the job done. Management is the process of setting and achieving goals through the execution of the five basic management functions which are planning, organizing, staffing, directing and controlling.

Which of the following best describes management quizlet?

which of the following best describes management? (Management is the process of working with people and resources to accomplish organizational goals.)

What are the 3 concepts of management?

The chart of “The Management Process,” begins with the three basic elements with which a manager deals: ideas, things, and people. Management of these three elements is directly related to conceptual thinking (of which planning is an essential part), administration, and leadership.

What is the best definition for management?

: the act or art of managing : the conducting or supervising of something (such as a business) Business improved under the management of new owners. : judicious use of means to accomplish an end.

Which is the best definition of management quizlet?

Terms in this set (33) Management is defined as. The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organization's resource.

What are the definitions of management?

A'Management Is a distinct process consisting of planning, organising, actuating and controlling; utilising in each both science and art, and followed in order to accomplish pre-determined objectives." George R Terry (1877 - 1955)

Which one of the following statements best describes management?

The statement which best describes management is: Management is organizing complex resources to get the job done. Management is the process of setting and achieving goals through the execution of the five basic management functions which are planning, organizing, staffing, directing and controlling.