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Which of the following is a tool of Analysis of Financial Statements?
Concept: Concept of Financial Statement Analysis
The 'Inventory Turnover Ratio' from the following information will be:
| (₹) | |
| Revenue from Operations | 12,00,000 |
| Average Inventory | 2,00,000 |
| Gross loss ratio | 20% |
Concept: Activity Ratios >> Inventory Turnover Ratio
Define Management.
Concept: Concept of Management
Answer the following question.
Mita has a successful ice cream business at Bikaner, namely "Smart flavours' ice creams are utterly delicious. She makes ice creams from fresh milk and the same are available in a wide range of flavours and packs. She sets viable business objectives and works with the same in mind in order to ensure that the customers will come back for purchasing.
Having the first-mover advantage, her business was doing well. To earn higher profits, she started cutting costs. This would sometimes lead to delay in delivery and the ice cream was not reaching the market in time. Over a period of time, the demand for her ice cream declined and because of it, the competitors entered the market. She lost some of her market share to competitors.
At the beginning of the summer season, she got back to backorder for the supply of 4,000 ice cream packs of different flavors for special occasions. To ensure that the task was completed and orders delivered in time she hired additional workers. She was, thus able to produce and deliver the ice cream packs but at a high production cost. While completing activities and finishing the given task for achieving goals, Mita realized that she was ignoring one of the important aspects of management.
Identify the aspects of management that has been ignored by Mita. Also, explain the same with the help of an example.
Concept: Concept of Management
Answer the following question.
Pratap Singh is the Chief Executive Officer of Nissar Enterprises. It is an automobile parts manufacturing company. The enterprise has a functional structure, in which jobs of similar nature have been grouped together as Production, Finance, Marketing, and Human Resource. Nissar Enterprises has its manufacturing unit at Manesar. The factory has been plagued with many problems for a long time which was in the knowledge of the Production Manager, Varun Sharma. The workers had internal differences. Time and again, there were misunderstandings between the management and the workers. Keeping the problems in mind, Varun Sharma appointed Siyaram Singh who had 14 years of experience of working with the actual workforce and passing on instructions of the middle management to the workers.
Siyaram Singh met Varun Sharma to understand what the management wanted? Thereafter he met the workers and conveyed the ideas of management to them. He also promised the workers to convey their problems to the management. In this way, he cleared the misunderstanding between the management and the workers. He also sorted out internal differences and was able to unite the workers within a month of his joining. His work was acknowledged by management and he was given a certificate of good performance along with a 10% increase in salary.
(i) Siyaram Singh performed some of the functions which are required to be performed at the position he is working at. State any five other functions Siyaram Singh is expected to perform.
(ii) Name the incentives provided to Siyaram Singh.
Concept: Levels of Management
State the importance of principles of management.
Concept: Significance of Management Principles
Explain briefly discipline and scalar chain as principles of general management.
Concept: Concept of Management Principles
Explain briefly Remuneration of Employees and Scalar Chain as principles of general management.
Concept: Concept of Management Principles
Explain the following principle of management:
Scalar chain
Concept: Concept of Management Principles
Explain the following principles of management:
Harmony, not discord.
Concept: Concept of Management Principles
Explain the following principles of management:
Subordination of Individual Interest to General Interest.
Concept: Concept of Management Principles
Explain the following principles of management:
Development of Each and Every Person to His or Her Greatest Efficiency.
Concept: Concept of Management Principles
Explain the following principle of management.
Authority and Responsibility
Concept: Concept of Management Principles
Explain the following principles of management:
Co-operation, not Individualism
Concept: Concept of Management Principles
Answer the following question.
Appliances India Ltd. is engaged in the manufacturing and distribution of home appliances since 1987. It has a good name in the market as the company is producing good quality appliances. It has separate departments for manufacturing, finance, sales maintenance services, and technical services to achieve specialization.
Since the areas of operations of the company have increased and customers have become more demanding, the company decided to modify the existing principle of management to meet the changing requirements of the environment.
State the general principle of management which the company wants to modify to meet the changing requirements.
Concept: Concept of Management Principles
Explain significance of principles of management.
Concept: Significance of Management Principles
Explain 'Universal Applicability' as a feature of principles of management.
Concept: Concept of Management Principles
Explain Meeting Changing Environment requirements.
Concept: Significance of Management Principles
What is meant by ‘liberalisation’?
Concept: Impact of Government Policy Changes on Business with Special Reference to Liberalization, Privatization and Globalization in India
Giving any four points, explain the impact of government policy changes on Business and Industry.
Concept: Impact of Government Policy Changes on Business with Special Reference to Liberalization, Privatization and Globalization in India
