Comsats University Islamabad

Attock Campus

Introduction to Management
Assignment # 03
Submitted To:
Sir Ehtisham Mujeeb

Submitted By:
Syed Safwan Abbas
(FA18-BCS-055)
Date of Submission:
2/12/2021

Department of Computer Sciences

Question#1 Differentiate between the Following?
1. Informal and Formal planning:

 Formal planning is a written, specific, and long-term focus type that involves
shared goals for the organization. It is used for specific purposes.
 Informal planning is a type of planning which is not written down, short-term
focus; specific to an organizational unit. It is not used for specific purpose.
2. Efficiency and Effectiveness:

 Efficiency is the achievement of the ends with the least number of resources. It
means the use of minimum resources to get the maximum output, seeks to
minimize resource cost.
 Effectiveness refers to the achievement of objectives. It means attaining
organizational Goals.
3. Real and Stated goals:

 Real goals are the actual goals of an organization have when developed a new
organization. These goals intend to be completed by the organization. It may
not be written on paper.
 Stated goals These are the goals which organization tell to the public. It
contain broadly-worded official statements of the organization (intended for
public consumption) that may be irrelevant to its fundamental goals (what goes
on in the organization).
4. Rational and Intuitive decision making:

 Rational decision-making describes choices that are logical and consistent

and maximize value.
 Intuitive decision-making is a method of making decisions based on
experience, feelings, and accumulated judgment.
5. Ethnocentric and Polycentric attitude:
 Ethnocentric attitude is the parochialistic belief that the best work approaches
and practices are those of the home country.

 Polycentric attitude is the view that the managers in the host country know
the best work approaches and practices for running their business.

Question#2 Why do managers satisfice? Support your answer with the help of
a practical example?
Managers satisfice because they can't possibly analyze all information on all alternatives.
So, they satisfice rather than maximize. That is, they accept solutions that are "good
enough." They're being rational within the limits of their ability to process information.

PRACTICAL EXAMPLES:

o For example, if you buy a not perfect phone but good enough to fulfill your
requirements, you will acknowledge that smartphone even if it is not perfect.
o Similarly, if you buy new cloths that are not branded but still, they are good
enough to wear and to cover your body and is fulfilling the main requirement even
they are not branded.

Question#3 What was the lesson learned from Hawthorne's studies?

Hawthorne Studies had a game-changing impact on management principles about the role
of people in any organization. Elton Mayo concluded that people's behavior and attitudes
are closely related that group factors significantly affect individual behavior, group
standards establish individual worker output, and money is less determining production
than group standards, group attitudes, and security. These conclusions led to a new
emphasis on the human behavior factor in the management of organizations.

Although Crisis attacked the research procedures, analyses of findings and conclusions,
it’s of little importance from a historical perspective whether the Hawthorne Studies were
academically sound or their conclusions justified.