Explain how the four management functions relate to different management activities. Explain the difference between efficiency and effectiveness. Explain how conceptual, human, and technical skills are relevant to managers.

Management Analysis

Organizational management drives organizations to accomplish identified goals through analytic processes. Through discussion and analysis, management develops new ways to improve an organization’s efficiency and to increase profitability through reduced costs and increased revenues.

This topic addresses the following competency:
• Competency 3018.1.1: Practice of Management
The graduate explains the theoretical bases, current knowledge, best practices, and trends related to the practice of management.

This topic highlights the following objectives:
• Explain how the four management functions relate to different management activities.
• Explain the difference between efficiency and effectiveness.
• Explain how conceptual, human, and technical skills are relevant to managers.
• Define ten roles that managers perform in organizations.
• Describe the innovative use of management principles.
• Explain major developments in the history of management theory.