Sunday, December 16, 2012

Lesson-3 on Management



Question: What is the difference between goal and purpose?
Answer:
A goal is something desired for the long term. And a purpose is an immediate result.

Question: What is the difference goal and objectives?
Answer:

Ø    Goals – are long-term aims that you want to accomplish.
Ø    Objectives – are concrete attainments that can be achieved by following a certain number of steps.
Ø    The main difference comes in their level of concreteness. Objectives are very concrete, whereas goals are less structured. Goals are hard to quantify or put in a timeline, but objectives should be given a timeline to be more effective

Question: What is Policy?
Answer:
A policy is the principle or rule to guide decisions and achieve rational outcome(s). It is the general plan of action that guides members of the enterprises in the conduct of operations.

Question: What is Procedure?
Answer:
A procedure is a specified series of actions or operations which have to be executed in the same manner in order to always obtain the same result under the same circumstances. It is the series of related tasks that make up the chronological sequence and the established way of performing the work to be accomplished.

Question: What is Method?
Answer:

Method is the established, habitual, logical, or prescribed practice or systematic process of achieving certain ends with accuracy and efficiency, usually in an ordered sequence of fixed steps. It is a prescribed manner for performing a given task giving adequate consideration to the objective facilities available and total expenditures of time, money and effort.

Question: What is Strategic Planning?
Answer:
Strategic planning is the process of identifying an organization's long-term goals and objectives and then determining the best approach for achieving those goals and objectives.

Question: What is Logistics?
Answer:
Logistics is the process of planning, implementing, and controlling the efficient, effective flow and storage of goods, services,  information and other resources from point of origin to point of consumption in order to meet the requirements of consumers .In short, Logistic are concern with having the right resources available at the right place and the right time.

Question: What is Delegation of Authority?
Answer:
Delegation of authority is the transfer of authority for specific administrative functions from a central office level to an organizational level

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