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Explain the following as factors affecting the requirements of working capital:
Production cycle
Concept: Fixed Capital
Sanchit, after completing his entrepreneurship course from Sweden returned to India and started a coffee shop 'AromaCoffeeCan' in a famous mall in New Delhi. The speciality of the coffee shop was the special aroma of coffee and wide variety of flavours to choose from. Somehow, the business was neither profitable nor popular, Sanchit was keen to find out the reason. He appointed Sandhya, an MBA from a reputed college, as a Manager to find out the causes for the same.
Sandhya took feedback from the clients and found out that though they loved the special unique aroma of coffee but were not happy with the long waiting time being taken to process the order. She analysed and found out that there were many unnecessary obstructions in between which could be eliminated. She fixed a standard time for processing the order.
She also realised that there were some flavours whose demand was not enough. So, she also decided to stop the sale of such flavours. As a result of a short period, Sandhya was able to attract the customers
Identify and explain any two techniques of scientific management used by Sandhya to solve the problem.
Concept: Concept of Marketing Management
'Beauty Products Ltd' is a natural and ethical beauty brand famous for offering organic beauty products for men and women. The company uses plant-based materials for its products and is the No. 1 beauty brand in the country. It not only satisfies its customers but also believes in the overall protection of the planet.
Identify the marketing management philosophy being followed by 'Beauty Products Ltd
Concept: Concept of Marketing Management
What is meant by 'Management'?
Concept: Concept of Management
What is meant by 'effectiveness' in management?
Concept: Concept of Management
What is meant by 'Management'?
Concept: Concept of Management
State any three objectives of management
Concept: Concept of Management
What is meant by ‘Privatisation’?
Concept: Levels of Management
Name any two important characteristics of management.
Concept: Importance of Management
Identify the reason which makes management important in the light of the fact that it is generally seen that individuals in an organization resist change, as a change often means moving from a familiar, secure environment into a newer and a more challenging one.
Concept: Importance of Management
Top management plans for the entire organization. According to these plans the organizational structure is developed and staffed. In order to ensure that these plans are executed according to plans, directing is required. Any discrepancies between actual and realized activities are then taken care of at the stage of controlling. Name and explain the process highlighted above which started at the planning stage itself and is implicit and inherent in all the functions of management in an organization.
Concept: Coordination as an Essence of Management
Explain any three points that highlight the importance of 'Coordination'.
Concept: Coordination as an Essence of Management
Assertion (A): Management is concerned with efficient use of resources.
Reasoning (R): For management both efficiency and effectiveness need to be balanced.
Concept: Concept of Management
Captcha Ltd. is a construction company in which all the employees learn various ways of dealing with diverse situations from their seniors. Company provides financial as well as non-financial incentives. This helps the employees to grow and develop their abilities. The organisation behaves as a responsible constituent of society and always creates good quality products. It has a positive image in the market. The training modules are excellent and the employees always try to find unique ways of providing solutions in the context of rapidly changing business environment. This has helped the organisation to adjust smoothly.
Identify and state three points of importance of management being highlighted here.
Concept: Importance of Management
Explain why is it said that principles of management are 'mainly behavioural' and 'contingent' in nature. Also explain how principles of management 'provides managers with useful insights into reality' and 'helps in thoughtful decision-making'.
Concept: Concept of Management Principles
Explain unity of command and equity as principles of general management
Concept: Concept of Management Principles
Explain briefly Unity of Direction and Order as principles of general management.
Concept: Concept of Management Principles
Explain briefly Initiative and Esprit de Corps as principles of general management
Concept: Concept of Management Principles
Explain briefly Espirit de Corps and Order as general principles of management.
Concept: Concept of Management Principles
What is meant by 'efficiency' in management?
Concept: Concept of Management Principles
