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Question
State the features of management.
Solution
The features of management can be judged from the various principles on which it is based. The following points highlight the nature of principles of management.
The following points highlight the nature of the principles of management:
i. Universal - Universality of management principles implies that they can be applied to every firm, irrespective of its size, nature or location.
ii. Act as guidelines - Management principles act as guidelines; they are considered general premises for decision making. However, they do not provide straitjacket solutions to all problems.
iii. Experiment based - Management principles have been developed through years of research and experimentation; that is why they are technical in nature. They pertain to different working situations and can be modified by managers as per the situations and requirements.
iv. Flexible - Management principles are not rigid in nature. They can be moulded by managers as per the need of the hour.
v. Behavioural - Management principles aim at influencing the behaviour of individuals; the applicability of these principles varies according to changes in human nature.
vi. Indicative of cause–effect relationship - As management principles are based on years of experimentation, they provide a definite cause and effect relationship.
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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.
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| Group A |
Group B |
| A) Henry Fayol |
1) Eight Foremen |
|
B) Principle of Unity of Direction |
2) F.W. Taylor |
|
C) Principle of Management |
3) Proper division of all activities |
|
D) Scientific Management Theory |
4) General guidelines |
|
E) Functional Organization |
5) A place for everything and everything in its place |
|
6) One head-one plan |
|
|
7) Low wage rate |
|
|
8) Harmony between the employee and management |
|
|
9) German engineer |
|
|
10) Modern Management |
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Justify the following statement.
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Match the correct pairs:
| Group ‘A’ | Group ‘B’ | ||
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| (b) | Directing | (2) | Scientific Management theory |
| (c) | Responsibility towards Government | (3) | It is the process of recruiting, selecting, placing and remunerating |
| (d) | Digital cash | (4) | To earn profit |
| (e) | Monopoly | (5) | Respecting rules and regulations |
| (6) | Exist only in cyber space | ||
| (7) | Exist everywhere | ||
| (8) | Single buyer | ||
| (9) | Modern management theory | ||
| (10) | Single seller |
