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Question
What is meant by 'Management'?
Solution
Management is the function of an organisation which is primarily responsible for achieving its desired goals in a given period of time in a time- and cost-efficient manner.
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RELATED QUESTIONS
‘K.S. Energy Ltd.’ was a energy efficiency consultancy company. To get the business the team leader and his team used to travel to different states to give presentation to their clients. As per the policy of the company, the team leader used to travel by air, whereas his team travelled by road/train. It was not only time consuming but also at times forced female team members to travel alone. As a result, the subordinates were not acting in a desired manner to achieve organizational goals. The CEO came to know about it. He called the team leader, discussed the matter with him and changed the travel policy of the company. It was decided that all the members including the leader would travel together in future and would usefully utilize the travelling time in discussion with the subordinates about the presentation to be given to the clients. This made a positive impact and
every member of the team started acting in a manner as desired by the team leader.
State the features of the element of the function of management used by the CEO.
Define Management.
State any three objectives of management
What is meant by 'Management of people'?
What is meant by management ?
Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
A manager obtains the required capital at 12% interest while the prevailing rate of interest happens to be10%. How would you describe such a manager?
Read the following text and answer the following question on the basis of the same:
Sana is the branch manager of ABC Handicrafts Pvt. Ltd. The company’s objective is to promote the sales of Indian handloom and handicraft products. It sells fabrics, furnishings, ready-mades and household items are made out of traditional Indian fabrics.
Sana decides quantities, variety, colour and texture of all the above items and then allocates resources for their purchase form different suppliers. She appoints a team of designers and crafts people in the company, who developed some prints for bed covers in bright colour on silk. Although the products looked very attractive and impressive, they were relatively expensive on the front of affordability for an average customer.
Sana suggested that they should keep the silk bed covers for special festive occasions and offer the cotton bed covers on a regular basis to keep costs under control.
In the above case “company’s objective is to promote the sales of Indian handloom and handicraft products.”
The above line focus on which feature of management?
Discuss the basic features of management as a profession.
______ is used extensively for all types of activities and mainly for taking charge of different activities in any enterprise.
Management is the process of designing and maintaining an environment in which ______. work together ______, efficiently and effectively accomplishing selected aims.
Read the following text and answer the questions given below:
Vinay was the Chief Operating Officer of 'Easy Solutions Ltd.', a company providing advanced software solutions to Indian Defence Services. They had been carrying on business successfully for the last twelve years and earning enough profits. But from the last one year, they realised that though the business is getting big orders which are being fulfilled on time, even then the revenues kept on decreasing. Vinay was not-able to find out where the problem was. He started keeping a close check on the progress of activities as he could sense that something was wrong. He wanted to take some action before any major damage could be done to the business. Vinay appointed a cyber security expert who monitored the company's processes and found out that the computer operator was deleting the entries from the computers and pocketing the revenues. He was caught and handed over to the police. This created an atmosphere of order and discipline in the organisation and helped in minimizing dishonest behaviour on the part of the employees.
What corrective action did Vinay take?
Match the CHARACTERISTICS of management in Column I with their correct EXPLANATIONS in Column II:
| Column I | Column II | ||
| (a) | Goal-oriented process | (i) | Management is a complex activity involving management of people, work and operations. |
| (b) | Group activity | (ii) | Some aims and objectives are the basic reason for existence of an organization. |
| (c) | Multidimensional | (iii) | Diverse individuals with different needs work together to fulfill the common organizational goal. |
Match the CHARACTERISTICS of management in Column I with their correct EXPLANATIONS in Column II :
| Column I | Column II | |
| (i) | Goal-oriented process | Management is a complex activity involving management of people, work and operations. |
| (ii) | Group activity | Some aims and objectives are the basic reason for existence of an organisation. |
| (iii) | Multi-dimensional | Diverse individuals with different needs work together to fulfill the common organisational goal. |
The management of a bag manufacturing company has recently changed. Due to this, an improvement can be felt in the way company functions. Now, targets are met according to plans, whereas, earlier deadlines were never given importance. Now there is orderliness, instead of chaos in the organisation and the employees are happy and satisfied.
From the following identify the characteristic of management which is highlighted in the above case:
Assertion (A): Management is concerned with efficient use of resources.
Reasoning (R): For management both efficiency and effectiveness need to be balanced.
Mohan, the manager of a business organisation, is very lax with his employees and subordinates. He does not give them parameters or rules for reporting to work and deadlines for completion of assignments.
Which principle of management given by Henri Fayol is NOT being followed by Mohan?
