Question

List out the management tools.

Hint:

Remember: Management tools = Techniques for planning, control, and decision-making.

Answer 1

Concept: Management tools are techniques and methods used by managers to improve efficiency, decision-making, and organizational performance.
Step 1: Common management tools.

• Management by Objectives (MBO)
• Management by Exception (MBE)
• Budgetary Control
• Cost Control Techniques
• SWOT Analysis
• PERT (Programme Evaluation and Review Technique)
• CPM (Critical Path Method)
• Decision Tree Analysis

Step 2: Purpose.
These tools help in planning, organizing, controlling, and decision-making in an organization.
Step 3: Conclusion.
Thus, management tools are essential techniques that aid managers in achieving organizational goals effectively.