📝 One-liners · 65 cards
Basics of management
What is the primary objective of management in a banking organization?
The primary objective of management in banking is to achieve organizational goals efficiently and effectively by coordinating human, financial, and physical resources while ensuring regulatory compliance and stakeholder value creation.
What is the primary difference between 'efficiency' and 'effectiveness' in management?
Efficiency is doing things right; effectiveness is doing right things.
Which management theorist is associated with the concept of 'Scientific Management'?
Frederick Winslow Taylor is associated with Scientific Management, which emphasized systematic analysis of workflows, time-and-motion studies, and standardization of tasks to improve productivity.
What is the 'unity of command' principle in classical management theory?
Each employee should receive orders from only one superior.
🔒
Unlock 65 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for Basics of management.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days