SYBCOM Business Management – Complete Question Bank (Modules 1–3): 38 flashcards
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1. Define management in one sentence.
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Management is the continuous process of planning, organizing, staffing, directing and controlling resources to achieve organizational goals efficiently and effectively.
2. What does 'management means getting work done through people' imply?
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It means managers achieve goals by coordinating and guiding others rather than doing all the work themselves.
3. List any five key features of management.
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Goal-oriented, continuous, universal, group activity, and dynamic.
4. Why is management called intangible?
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Because management itself cannot be seen or touched, but its results are visible in the organization's performance.
5. Name the five main functions of management.
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Planning, organizing, staffing, directing, and controlling.
6. What is the core question that planning answers?
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Planning decides in advance what is to be done, how, when, and by whom.
7. What does organizing involve?
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Organizing arranges activities, people, and resources into a structure with assigned responsibilities and authority relationships.
8. What does staffing cover?
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Staffing covers recruitment, selection, placement, training, development, and compensation of employees.
9. What is directing?
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Directing involves guiding, supervising, motivating, and communicating with employees to achieve goals.
10. What is controlling?
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Controlling compares actual performance with planned standards and takes corrective action for deviations.
11. Who is associated with Scientific Management?
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F.W. Taylor is associated with Scientific Management.
12. Who is associated with Bureaucratic Management?
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Max Weber is associated with Bureaucratic Management.
13. Who is associated with Administrative Management?
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Henri Fayol is associated with Administrative Management.
14. Name any four of Fayol's 14 principles.
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Division of work, authority and responsibility, unity of command, and unity of direction.
15. What is the neo-classical approach to management?
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The neo-classical approach includes Human Relations and Behavioural approaches, emphasizing morale, social relationships, motivation, leadership, and communication.
16. What is the Systems Approach in modern management?
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It views the organization as an open system of interrelated parts that transforms inputs into outputs through a process.
17. What is the Contingency Approach?
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The Contingency Approach states that there is no single best way to manage; the right method depends on the situation.
18. What is the Quantitative Approach?
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It uses mathematical, statistical, and analytical techniques for decision-making, such as forecasting and linear programming.
19. What does Indian ethos in management emphasize?
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It emphasizes ethical conduct, duty, self-management, human values, teamwork, social responsibility, and holistic management.
20. List the steps of planning.
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Setting objectives, analyzing situation, developing premises, identifying alternatives, evaluating alternatives, selecting best alternative, preparing supporting plans, implementation, and follow-up.
21. Why is planning important?
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Planning provides direction, reduces uncertainty, ensures optimum use of resources, facilitates decision-making, promotes coordination, reduces risk, provides basis for control, and encourages innovation.
22. What is MBO?
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Management by Objectives (MBO) is a system where managers and employees jointly set clear, measurable objectives and evaluate performance against them.
23. What is MBE?
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Management by Exception (MBE) is a control principle where managers focus only on significant deviations from standards, leaving routine matters to lower levels.
24. What is MIS?
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A Management Information System (MIS) collects, processes, stores, and provides relevant information to managers for planning, controlling, and decision-making.
25. Name any four components of MIS.
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People, hardware, software, and data are components of MIS.
26. What is decision making?
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Decision making is identifying a problem or opportunity, evaluating alternatives, and selecting the most suitable course of action.
27. Name any four decision-making techniques.
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Cost-benefit analysis, break-even analysis, decision tree, and SWOT analysis.
28. What are the essentials of sound decision making?
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Clear objective, accurate information, alternatives, evaluation, logical analysis, timeliness, flexibility, participation, and ethics.
29. How does AI support business decisions?
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AI supports through data analysis, forecasting, customer insights, risk management, automation, decision support, and personalization.
30. What must managers consider when using AI?
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Managers must consider accuracy, bias, privacy, and ethics, and ensure human oversight.
31. What is organizing?
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Organizing is identifying activities, grouping them, assigning duties, establishing authority relationships, and coordinating people and resources.
32. List the steps of organizing.
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Determining objectives, identifying activities, grouping activities, assigning duties, delegating authority, establishing relationships, providing resources, and coordination.
33. Name any four types of organization structure.
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Line, functional, line and staff, divisional, matrix, and project are types of organization structure.
34. What is formal organization?
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Formal organization is the officially planned structure of jobs, authority, and reporting relationships, deliberately created to achieve objectives.
35. What is informal organization?
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Informal organization develops naturally through social relationships among employees, based on interpersonal needs.
36. What is span of control?
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Span of control is the number of subordinates one manager can effectively supervise.
37. What is delegation of authority?
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Delegation of authority involves assigning duties, granting authority, fixing responsibility, establishing accountability, guidance, and follow-up.
38. Name any four barriers to delegation.
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Fear of losing control, lack of confidence in subordinates, poor communication, and inadequate training.
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