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The steps of the strategic management process are the following: (1) defining the business and developing a mission, (2) evaluating the firm's internal and external strengths, weaknesses, opportunities, and threats, (3) formulating a new business direction, (4) translating the mission into strategic goals, and (5) formulating strategies or courses of action. Steps (6) and (7) entail implementing and then evaluating the strategic plan. Which function of the management process includes selecting employees setting performance standards?Which function of the management process includes selecting employees, setting performance standards, and compensating employees? Explanation: D) The staffing function of the management process is also known as the human resource management function.
Which basic functions of management involves maintaining employee morale motivating subordinates?Answer and Explanation: The correct answer is B) leading. Reason: Leading is one of the important functions of management. It consists of maintaining the level of motivation among the subordinates.
Which activity is part of the controlling function of the management process?The basic control process, wherever it is found and whatever it is found and whatever it controls, involves three steps: (1) establishing standards. (2) measuring performance against these standards. and (3) correcting deviations from standards and plans. 1.
Which of the following represents the five functions of planning organizing?The five basic functions are planning, organizing, staffing, leading, and controlling. Planning activities include establishing goals and standards, developing rules and procedures, and developing plans and forecasts.
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Which management function includes setting standards such as sales quotas and quality standards?
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