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Answer the following question:
Saurabh decided to start a chocolate manufacturing business. He set then a target of earning 10% profit on sales in the first year. As a good businessman, he was concerned about the future of the business, which was uncertain. He gathered information that the demand for chocolates is increasing day-by-day. He used this information as the base for future planning and shared it with his team. On the basis of the gathered information, he scheduled a meeting in the following week to find innovative ways to achieve the objectives.
List the first two steps, which have been followed by Saurabh that are related to the process of one of the functions of management.
What is meant by co-ordination?
Isha Machines was a renowned name for quality sewing machines since 1960. Mr Suresh, the owner of Isha Machines, was worried as the production had declined during the last three months. He directed the Production Manager to find out the reason. The Production Manager ordered the different supervisors to prepare a performance report of the workers working under them.
Identify the step taken by the Production Manager that is related to one of the functions of management.
A company was manufacturing 'LED bulbs' which were in great demand. It was found that the target of producing 300 bulbs a day was not met by the employees. On analysis, it was found that the workers were not at fault. Due to electricity failure and a shortage of workers, the company was not able to achieve the set targets and alternative arrangements were needed. To meet the increased demand, the company assessed that approximately 88 additional workers were required out of which 8 would work as heads of different departments and 10 would work as subordinates under each head The required qualifications and job specifications were also enlisted. It was also decided that necessary relaxation should be given to encourage women, persons from backward and rural areas and persons with special abilities to assume responsible positions in the organisation. All efforts were made to match the ability of the applicants with the nature of work.
a. Identify the functions of management discussed above
b. State the two steps in the process of each function discussed in the above para.
c. List any two values which the company wants to communicate to the society
Write the word. or phrase or tenn which can substitute the following statement~:
A function of management directly related to human beings.
A management function directly related to human resources.
State the nature of staffing.
Write a word or a phrase or a term which can substitute the following :
One of the functions of management is considered as a base for all functions.
Write a word or a phrase or a term which can substitute the following :
A process of taking steps to bring actual results and desired results closer.
Distinguish Between the following:
Planning & organising.
Distinguish Between the following:
Coordination & controlling.
Write Short Note on the following:
Importance of Controlling
Answer the following Question:
Define Co-ordination and explain its nature.
State with reasons whether the following statement is TRUE or FALSE :
Planning is of vital importance in the management process.
Staffing and Controlling
Which is not a function of Management of the following?
Read the following text and answer the following question on the basis of the same:
Simplex Limited had been taken over by Mundhra Group immediately following India's independence. Since then it enjoys a rich record of industry presence and experience. In 2005, with the aim to accelerate growth the company had gone through several rounds of meetings and discussions before launching ERP system to attract large projects. The management had done effective forecast and critical thinking regarding allocation of resources to reduce wastage. For this purpose, the company had laid down multiple courses of action to meet the challenge of adverse situations. In 2008, the company suffered loss in many projects due to the great recession despite taking many cost cutting measures. The management had taken utmost care regarding the possible outcome and timely review of the plans to achieve the set target during that hard time. In 2010 the system implemented successfully which subsequently helped the company to execute numerous projects with precision and timeliness.
"The management had done effective forecast and critical thinking regarding allocation of resources to reduce wastage." Identify the function of management mentioned here.
Which of the following statements is true about the organizing function of management?
Name the function of management which helps in the formulation of future plans, in the light of the problems that were identified and thus, helps in better planning in the future period.
Directing is the heart of the management process. Give any four reasons to support this statement.
