LEARNIT INSTITUTE OF BUSINESS AND TECHNOLOGY NTA LEVEL 4 PRINCIPLES OF MANAGEMENT
SECTION A
Question 1

Question 2

Question 3

Question 4

Question 5

Question 6

Question 7

Question 8

Question 9

Question 10

Question 11

Question 12

Question 13

Question14

Question 15

Question 16

Question 17

Question 18

Question 19

Question 20

Section B
Question 21 a) Planning establishes the basis for all other function that managers perform. i) Briefly describe the THREE why effective planning is important
Answer
i) Effective use of resources ii) Establishing goals iii) Managing risk and uncertainty

ii) Define what is meant by Traditional Goal Setting
Answer
These are the types of goals that are set at the top and then broken down into sub goals for each level of organization

iii) Briefly explain the key difference between Specific plans and Directional plans
Answer
Specific plans are that are clearly defined an leave no room for interpretation while Directional plans are flexible plans that set out general, provide focus yet allow discussion in implementation.
B) The ‘’Five Whys’’ approach is often recommended as valuable aid to effective decision making. Explain why this is the case

Question 22 a) List and briefly describe the six steps in the strategic management process
Answer
i) Identifying the organization’s current mission. Objective and strategies ii) Conducting an external analysis iii) Conducting an internal analysis iv) Formulating strategies v) Implementing strategies vi) Evaluating results

b) Explain what is meant by the ‘’Rule Of Three’’ and give on example that displays this phenomenon
Answer
Rule of