Prelim Exams (POM P1)

• What is Community?

  There must be a group of people – two or more persons –

  who are interconnected, interrelated and interdependent; people who communicate and are concerned with one another;
• What is common purpose?

  These persons must have common objectives; i.e., they all agree on at least one objective that is worth pursuing and achieving together
• What is Cooperation?

  Each member of the group works to the best that he or she can to contribute towards the achievement of their shared objectives
• What is coordination?

  The group members work together; i.e., all their efforts are interrelated and coordinated, all aimed at the achievement of their common objectives; coordination implies both harmony and unity of direction.
• What is an organization?

  It is a group of people working together to achieve common objectives. This basic definition implies that at least four conditions must exist to have an organization
• What is the Purpose of Organization?

  Organizations exist primarily to serve and satisfy needs of others and their own.
• What are the four conditions that must be exist to have an organization?

  Community, Common Purpose, Cooperation, and Coordination
• The 5 categories of Abraham Maslow’s Hierarchy of Needs Theory are Survival needs, Safety needs, Social needs, Self-esteem needs, and Self-actualization needs
• To the distribution of these products to customers – there must be valued-added
• Value Added are consist of suppliers, resources, organization, products, and customers
• Management is a process – it consists of a series of actions, changes, and functions designed to bring about desired results.
• Management involves working with resources – the 6Ms: manpower, money, materials, machines, methods, moment (time), and information.
• The management process involves performing the managerial functions of planning, organizing, staffing, leading, and controlling.
• The purpose of management is basically two-fold
• Pursue the achievement of organizational objectives; thus, the need for managers to be results-oriented.
• Promote harmonious working together in the organization; thus, the need for managers to have a systems-perspective and to be relationship-oriented; and, at the same time,
• It is not enough that the organization achieves objectives; managers must see to it that these objectives are achieved effectively and efficiently.
• Managers the people in the organization who are responsible for the management process
• Managers need to be continually aware that the organization exists as a part of an environment that is constantly changing
• Managers need to be continually aware that the organization exists as a part of an environment that is constantly changing
• Planning involves choosing or setting objectives and then determining the course of action needed to achieve them.
• Organizing involves determining the activities and resources required to implement the strategies, combining them into a formal structure, assigning responsibilities, and delegating authority.
• Staffing involves filling, and keeping filled, with the right people the various positions in the organizational structure.
• Leading involves influencing people so that they will do their best, in harmony with the other members, to contribute to the achievement of the organization’s objectives.
• Controlling involves devising ways and means to ensure that the planned performance is actually achieved.
• The management process are consist of: planning, organization, staffing, leading and controlling
• Vision – what the organization sees itself becoming into.
• Mission – why the organization exists; the organization’s basic purpose for existence.
• Effectiveness means doing the right thing.
• Efficiency means doing things right.
• Promote relationships. To create a positive environment where people can harmoniously work together.
• Achieve results. To achieve organizational objectives effectively and efficiently.
• Effectiveness takes precedence over efficiency, but it’s best to pursue both
• Effectiveness takes precedence over efficiency, but it’s best to pursue both
• The term management functions refers to planning, organizing, staffing, leading, and controlling
• The term functional areas of management refers both to the major functional areas (marketing, finance, and production/operations) and the minor functional areas (personnel or human resource management, purchasing, maintenance, industrial engineering, accounting, management information systems, distribution, public relations, and so on).
• Marketing is the functional area responsible for making the decisions related to the 5 Ps – people (customers), product (goods/services), promotion, place (distribution) and pricing.
• The functional area responsible for making the decisions related to the 5 Ps – people (customers), product (goods/services), promotion, place (distribution) and pricing.
• The Major functional area are consist of: Production Operations, Marketing, and Finance
• Finance is the functional area responsible for making the financing, investment and dividend decisions.