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Final Study Guide

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1. One should ensure a comprehensive knowledge of the Core Learning Objectives, delineated in each Weeks Overview, Objectives and Weekly Activities, sub section "The Objectives" and denoted by a light blue box with a black key in it. Key areas include the following:

1. Know and briefly describe the five basic management functions.
(1) Planning: Deciding what objectives to pursue and what to do to achieve those objectives.
(2) Organizing: Grouping activities, assigning activities, and providing the authority necessary to carry out the activities.
(3) Staffing: Determining human resource needs and recruiting, selecting, training, and developing human resources.
(4) Leading: Directing and channeling human behavior toward the accomplishment of objectives.
(5) Controlling: Measuring performance against objectives, determining the causes of deviations, and taking corrective action where necessary.

2. Define "management" and explain the managerial significance of "effectiveness" and "efficiency".
Management - ability to organize and allocate the resources of land, labor, and capital to achieve the company’s objectives and mission. the difference between effective and efficiency management is that efficiency is getting the job done using minimum resources to produce maximum output and effective means doing the right things at the right time to produce what is needed. Essentially, "someone that can lead their team toward the goal/achievement." Effective and efficient management is fundamentally the difference between doing the right things and doing things right.

3. List five methods that can used to train or develop employees.
On-the-job-training (OJT): Trainee is shown how to perform the job and allowed to do it under supervisor's supervision. - Vestibule training: procedures and equipment similar to those used in the actual job are set up in a

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