Management Involves Four Functions or Processes First Identified by Henri

question 35

Multiple Choice

Management involves four functions or processes first identified by Henri Fayol in 1916. Which of the following functions is most likely associated with aligning people and resources?

• A) Planning
• B) Controlling
• C) Organizing
• D) Directing

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Definitions:

Financial Expertise

Specialized knowledge and skills in finance, enabling an individual to make informed money management decisions.

Production Area

Part of a business where goods are manufactured or assembled.

Controllable Variance

The difference between the actual amount of variable factory overhead cost incurred and the amount of variable factory overhead budgeted for the standard product.

Factory Overhead

The indirect costs associated with manufacturing, such as utilities, maintenance, and salaries for management.