Professional Documents
Culture Documents
SET-1
Ques-1: Visualize the concept of Decision Making along with BCG model of planning
and decision making.
Answer-1
The BCG model of planning and decision making is a business strategy that is widely used,
and it aids in understanding which strategic decisions are most advantageous for a given
corporation. This is a business strategy that is frequently applied. This is because the Boston
Consulting Group was responsible for the development of the model (BCG). It is a procedure
that consists of four parts, the first of which is an analysis of the present commercial climate.
After this, the proper course of action to pursue in order to achieve the desired result will
have to be determined so that we may go on.
The BCG model may be broken down into four separate phases, which can be summarized as
follows:
1. Company Analysis At this juncture, it is essential to carry out research on the current state
of the business world and its circumstances. The scope of this investigation may
encompass, among other things, the competitive landscape, the trends in the market, the
needs of the client base, and the financial performance of the firm. Specifically, this
inquiry may focus on the financial performance of the organization.
2. The Development of the Plan: During this stage, you will be tasked with the responsibility
of constructing a complete plan by making use of the information that was obtained during
the stage that came before this one. This plan will contain a list of goals and objectives, as
well as a timetable for attaining those goals and objectives, and it will be presented in a
chronological sequence. Additionally, this plan will include a timeline for accomplishing
those goals and objectives.
3. The next step, which is known as implementation and comes after the stage that came
before it, entails putting the plan that was created in the stage that came before it into action.
This may include the introduction of new goods or services, expansion into new markets, as
well as the reorganization of activities that are currently being carried out in the business.
4. Evaluation At this point, you will assess the level of success that the plan had when it was
put into action and make any necessary revisions. During the course of this research, we will
evaluate the financial performance of the firm, the feedback obtained from customers, and the
make-up of the player pool in the competitive landscape of the industry.
With the support of the BCG model of planning and decision making, a company has the
ability to generate well-informed judgments and an efficient strategy for attaining its
objectives. The Boston Consulting Group was responsible for the development of this model
(BCG). The model offers a structured and rational approach to decision-making, which may
make it easier to choose the course of action that will result in the greatest likelihood of
success strategically.
Ques-2: Discuss the concept of Organizing while having light on the importance of the
concept.
Answer-2
Concept of Organizing
The idea of organization is central to the study of business and plays a critical role in how a
company operates to meet its objectives.
The next stage of management is organizing, which follows the phase of planning. Managers
divide up the company's resources, organize the various departments' workloads, define who
has what kind of power, and assign specific tasks to each employee. It's a convoluted
procedure that needs a lot of moving parts to work together in unison. When delegating tasks,
managers should keep each worker's unique set of abilities and interests in mind. Learning
about specialization and how it arises from the division of labour is crucial for enhancing
productivity. The following are Henri Fayol's words explaining it:
"Specialization, which boosts labour efficiency, occurs when the workforce is divided up
according to individuals' unique sets of abilities, allowing for more focused training and
education among workers. By breaking down tasks into smaller, more manageable chunks,
employees may do them more quickly and with greater precision. It's not only technical
labour that this approach may be applied to; management tasks can, too.
Types of Organizing
Organizing creates several frameworks for a company to achieve its aims. Org charts show
this. This diagram shows management and operating structures. It shows the company's
structure. Organizations can be:
Matrix: Matrix organizations employ production line and function verticals. Vertical
functions manage horizontal production lines. Finance, production, research, and sales are
divided by product. Only wealthy corporations should hire this smart company. This
system would manage product lines by function. A company with 4 products and 5
functions has 4×5 management interactions. Management relationships complicate
organizations.
Geographical or production factors separate this system. Every division handles corporate
tasks (functions like finance, marketing, etc.). Europe and Southeast Asia are separated.
Customer preferences split a corporation. The company may tailor client service and
products. Product divisions show each product line has operational tasks. Refrigerators
and phones will have their own sales, research, marketing, and engineering departments.
Importance of Organizing
Reasons to organize:
Harmony between personal and company aspirations is crucial. Organizing creates unity.
Expansion is necessary to boost earnings. Organising resources efficiently allows growth.
Well-organized management allows for improved decision-making and responsibility
allocation.
Answer-3
The term "controlling" refers to the practice of monitoring and adjusting operational variables
to ensure that the organization is on track to meet its objectives. Brech defines "controlling"
as "a systematic effort which is called as a process of reviewing actual performance against
the standards or plans with a goal to assure appropriate progress and also documenting such
experience as is obtained as a contribution to probable future demands."
Without safeguards, it's possible that any manager's intentions may go astray. The following
are necessary for a reliable management structure.
It is also important to tailor controls to each manager's skill level. It's impossible for a user to
properly use a control if they don't grasp its purpose.
An effective control is one that prevents the occurrence of the exception at the most crucial
time. The timely and correct writing of a name, for instance, is crucial to the successful home
delivery of a birthday cake. Both incorrect name and incorrect address (and hence incorrect
delivery time) fall outside this rule.
Objectivity of controls
While there is some subjectivity in management, controls must be objective, accurate, and
conform to a standard.
Flexibility
Changes in strategy, unanticipated events, or complete system breakdown all need controls
that can adapt to these scenarios. Sambhavi may employ budget control to set the inventory
level, but if sales are unexpectedly high or low, the control system has to be adaptable.
Putting strict regulations in place would be unthinkable in Sambhavi, a people whose culture
values openness and freedom to try new things within safe family environments. Sambhavi's
competitive edge is in its unique culture, which will undoubtedly be impacted by the
government's tight grip on the country. And therefore, it has to be appropriate for the culture.
A lax approach to management will fail in a highly structured and bureaucratic institution.
Economy of controls
Value for money is essential in controls. Inefficient is the result of making controls that cost
too much to implement. For instance, a vehicle and an airplane can't share the same steering
wheel.
SET-2
Answer-1
Introduction of Motivation
The drive that gets individuals moving toward their goals is called motivation. Motivators are
what get people up and moving. Having a strong desire to achieve one's objectives makes
people more likely to take the necessary steps toward those objectives. Possible motivational
factors include the need for money, the need for success, the need for a higher position, and
the desire to reach one's full potential.
The skill of motivating others to do their best in their work toward the common goal of
success is known as motivation.
The word "motive" is the root of the noun "motivation." The term "motive" refers to an aim,
whereas the verb "to be motivated" indicates action.
When management lives up to employees' expectations, morale soars. They count on perks
like a higher pay, bonuses, and incentives as their careers progress.
Both the success of the person and the success of the organization depend on the level of
motivation present; an individual needs motivation to achieve his goals, and an organization
needs the motivation of its workers to achieve its objectives.
The motivation for most human activity is meeting some combination of physiological and
social requirements. To put it another way, workers or employees do their responsibilities
well so as to meet their own requirements, goals, and aspirations. When employees are
inspired to do their best, they are better able to meet organizational objectives and contribute
in ways that please their superiors. It motivates subordinates to act in ways that further group
objectives and increases productivity.
Maslow’s hierarchy of needs theory:
The Hierarchy of Needs Theory proposed by Abraham Maslow is widely considered as one
of the most influential frameworks for understanding what motivates people. It is a
hypothesis in the field of psychology that attempts to explain why people are so intensely
driven in order to meet their demands, which are arranged in a hierarchical fashion.
It was initially presented by Abraham Maslow in 1943 for his article titled Theory of
Motivation. It is based on a hierarchy of needs, which begins with the demands that are the
most fundamental and then progresses on to higher levels. Maslow was the first person to
introduce it.
According to the need hierarchy theory, the primary objective is to fulfill the desire for self-
actualization, which is at the pinnacle of the hierarchy but also comes in last place.
In Maslow's theory, his hierarchy of needs is shown as a pyramid, with physiological and
safety demands at the base and higher-order, ephemeral needs at the peak. When a person's
fundamental needs are met, they may go on to focusing on their more complex wants and
desires.
2. Safety needs: After comfort, security is the next most important requirement.
Protection against harm and theft is one kind of safety concern, but other forms of
safety are as important, such as mental and physical health, enough housing, and a
secure income.
3. Love & belonging needs: Maslow's hierarchy's last lower requirements, social wants,
include human contact. Friendships and family bonds—both biological (parents,
siblings, and children) and chosen—are among these necessities (spouses and
partners). Intimacy, from sexual to emotional, is essential to kinship. From working
with a team to joining a union, club, or hobbyist organization, social groupings can
satisfy this requirement.
4. Esteem needs: Ego-driven needs start with esteem. Self-respect and self-esteem are
the foundations of self-worth (confidence in your potential for personal growth and
accomplishments). Maslow distinguishes between self-esteem based on respect and
acknowledgement from others and self-esteem based on self-assessment. This self-
esteem gives confidence and freedom.
Answer-2:
Concept of team:
Teams consist of two or more individuals who work together to achieve a similar goal, value
and respect one another as members of the team, and see themselves as a social unit inside
the larger business. For any task from manufacturing a something or delivering a service to
running a business or making a crucial decision, there must be a team. Interdependence and
the need for cooperation among team members are the glue that keeps the group together.
In order to accomplish their goals, all teams need a way to talk to one another. Members of
the team may and do have an impact on one another, with some having more of an impact
than others on the team's direction and actions.
A group is any collection of individuals who have some kind of bond or common interest.
However, not every collection of individuals can be considered a team. When workers get
together for lunch, for instance, they are not often considered a team since they are not
working together to accomplish anything. They have to rely on one another (they can't simply
go have lunch on their own) and there's nothing driving them together but friendship.
1. We're focused.
This unites everyone. Everyone understands the group's purpose. Important and
straightforward. Cooler.
Teams utilize limited resources. Humans cost. Only deploy them for organizational
advancement.
People like winning. Many teams struggle to define victory. How can you know you're good
if you don't know what good is?
Most companies' teams succeed with outside help. They must know how to help others to be
well-supported.
Many methods work. Efficiency frequently involves common processes. Chaos ensues
without it.
To avoid the all-too-common conflict when team members believe I'm working harder than
her, this must happen.
9. We're equipped.
Communication issues cause most teamwork issues. Teamwork requires assertiveness and
transparency.
Team disagreements are normal. When unresolved or bloody, they create an issue.
Good teams recognize and address issues as they emerge. They don't deal with a "elephant."
16. We cooperate.
A team is not a group of people working alone. Teams work well together.
Answer-3:
Concept of Leadership:
Leadership is guiding a group or organization. A pastor does in his state, a commander does
in the field, and a supervisor does in his organization. Diverse leaders share key traits.
Leaders should be able to contact their counterparts, manage and guide subordinates,
intervene in conflicts, consider possibilities to resolve difficulties, allocate scarce resources,
and tackle challenges and activities.
Leadership involves pioneers, people, and outside electorates. Pioneers are made. Leadership
is a practical skill and academic field that helps people influence and lead others. Self-study,
training, preparation, and experience build great leaders.
Great leaders always try to improve their management skills. Authority is a cycle through
which one person influences others to attain a goal and organizes the relationship to make it
stronger and more aware. Leaders utilize their administration ascribes—convictions, values,
morality, character, knowledge, and abilities—to complete this cycle.
Dimension of leadership:
1. Laissez-faire leadership
Authoritarian authorities have total control. Authoritarian leaders order group members to
act. This method lets the leader make a swift choice and provide clear directions under
pressure. An authoritarian leader with a vision may unite a divided group. However,
authoritarian leaders tend to ignore excellent ideas. The manner might cause resentment and
frustration. Lewin found that authoritarian children were industrious but uncreative.
Lyndon Johnson was a successful authoritarian leader. Johnson was recognized for his
aggressiveness and legislative success in Congress. “Rome wasn't constructed in a day,”
one senator said. “Lyndon Johnson wasn't the foreman.” Johnson wanted to change
America as president. Medicare, voting rights, and civil rights were his goals. Johnson
threatened, charmed, and browbeat opponents to attain his aims. In retrospect, Johnson's
willpower pushed his historic measures through Congress.
3. Democratic leadership
Democratic leaders make decisions together. Democrats discuss and listen. This produces
joyful, inclusive, and collaborative workplaces. Good democratic leaders may stimulate
innovation. The leader decides. Lewin found democratically-led youth contributed best.
Democratic leaders Eisenhower and Mandela succeed. WWII Supreme Allied Commander
Ike. He worked hard to retain a diverse coalition despite his overwhelming authority. Allied
politicians had conflicting military goals. Ike heard these men's nonsense. Ike preferred
talking to employees than barking orders. “Leadership is nothing but admitting responsibility
for everything that goes wrong and giving your subordinates credit for everything that goes
well,” he said.
Mandela democratized equality. As ANC leader, he believed all races and parties could
participate. Mandela and the ANC won South Africa's first free election after over three
decades in prison. President Mandela may have avenged his oppressors. He included them
into his government. His judgment helped South Africa recover.