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Explain any four points that highlight the importance of principles of management
Concept: Significance of Management Principles
Explain any three features Business Environment
Concept: Concept of Business Environment
Explain the following limitations of planning:
- Planning reduces creativity.
- Planning involves huge costs.
Concept: Limitation of Planning
Explain the following as limitations of planning:
- Planning leads to rigidity.
- Planning may not work in a dynamic environment.
Concept: Limitation of Planning
Give the meaning of 'accountability' as an element of delegation
Concept: Elements of Delegation
Give the meaning of 'Responsibility' as an element of delegation
Concept: Elements of Delegation
Answer the following question:
Aradhana and Gandharv are heads of two different departments in 'Yumco Ltd.' 'They are efficient managers and are able to motivate the employee of their respective departments to improve performance. However, their drive to excel in their own sphere of activity instead of giving emphasis on objectives of the enterprise has hindered the interaction between the departments that Aradhana and Gandharv are heading. Often there are inter-departmental conflicts and they have become incompatible. This has proved to be harmful in the fulfillment of the organisational objectives. The situation has deteriorated to such an extent that the CEO of 'Yumco Ltd.' has hired a consultant, Rashmi, to resolve the problem. After studying the situation closely, Rashmi found that the problem has arisen due to inflexibility and a narrow perspective on the part of both Aradhana and Gandharv. She is of the view that this situation is a result of the type of organisational structure 'Yumco Ltd.’ has adopted.
From the above information, identify the organisational structure adopted by ‘Yumco Ltd.’ and state any three advantages of the structure so identified.
Concept: Structure of Organisation
What is meant by 'functional structure' of an organisation?
Concept: Structure of Organisation
State any four points which highlight the importance of delegation in an organisation.
Concept: Concept of Delegation of Authority
Answer the following question.
With the help of any four points, explain the importance of 'Decentralisation' in an organisation.
Concept: Importance of Decentralization
Answer the following question.
‘Moga Industries Ltd,’ approached a well-established university in the city of Madurai to recruit qualified personnel for various technical and professional jobs. They selected Tanya, Ritu, Garima, and Chetan for various Vacancies in the organisation.
After the selection and placement, 'Moga Industries Ltd,’ felt the need to increase the skills and abilities, and the development of a positive attitude of the employees to perform their specific jobs better. The company also realised that learning new skills would improve the job performance of the employees. Hence, the company decided to take action for the same.
1) Name the step of the staffing process regarding which the company decided to take action.
2) State the benefits of the action to ‘Moga Industries Ltd.'
Concept: Importance of Training and Development
Explain Direct Recruitment and Advertisement as external sources of recruitment
Concept: Staffing - Recruitment Process
How is the training of employees beneficial for the organisation? State by giving any four reasons.
Concept: Concept of Training and Development
State any four advantages of external sources of recruitment.
Concept: Staffing - Recruitment Process
Answer the following question:
Sandhya is a successful manager at Mansions Enterprises. She has a team of twelve people working under her. She encourages them to set their own objectives and take decisions. She respects their opinions and supports them so that they can perform their duties and accomplish organisational objectives. To manage and exercise effective control she uses forces within the group.
As an intelligent manager, at times, she also makes use of positive aspects of informal communication. This way, she is able to unify diverse interests and ensure that targets are met.
(a) There are many theories and styles of influencing people's behaviour. Identify the style used by Sandhya which is based on the use of authority.
(b) State two positive aspects of the communication discussed above, which Sandhya is using as an intelligent manager.
Concept: Formal and Informal Communication
Answer the following question:
Ram Murthy, the CEO of ‘Goodcare Hospitals’, a leading chain of hospitals, decided to reward the good work of the doctors of his organisation. For this, he instituted two running trophies. A ‘Healthcare Achievers Trophy’ to acknowledge and appreciate the tireless efforts of the doctors who rendered selfless services to the patients and another ‘Beti Bachao Trophy’ to recognise the outstanding work done by the doctors in saving the girl child.
The CEO also wanted to improve the health services in rural areas all over the country. He decided that all doctors must work in rural areas for at least six months. He also decided that the paramedical staff should be employed locally.
(1) Identify the incentive provided by ‘Goodcare Hospitals’ to its doctors through running trophies
(2) Which needs of the doctors will be satisfied through the incentive identified in part (a)? State.
(3) State any two values that the CEO of ‘Goodcare Hospitals’ is trying to communicate to society.
Concept: Motivation - Financial and Non Financial Incentives
Explain briefly any three functions performed by a supervisor.
Concept: Function of a Supervisor
Briefly explain any three leadership styles.
Concept: Leadership Styles
Answer the following question:
In the paint industry, various raw materials are mixed in different proportions with petroleum for manufacturing different kinds of paints. One specific raw material is not readily and regularly available to the paint manufacturing companies. Bonler Paints Company is also facing this problem and because of this, there is a time lag between placing the order and the actual receipt of the material. But once it receives the raw materials, it takes less time in converting it into finished goods.
Identify the factor affecting the working capital requirements of this industry.
Concept: Factors Affecting Fixed and Working Capital Requirements
Answer the following question:
The Return on Investment (ROI) of a company ranges between 10 - 12% for the past three years. To finance its future fixed capital needs, it has the following options for borrowing debt:
Option ‘A’: Rate of interest 9%
Option ‘B’: Rate of interest 13%
Which source of debt, ‘Option A’ or ‘Option B’, is better? Give reasons in support of your answer. Also, state the concept being used in taking the decision.
Concept: Concept of Fixed and Working Capital
