gHALOTIA CLASSE, (9883034569/9330960172) Principle & Practice of Management [1* sem] [Subjective| Contents: S.No. Chapters Page Number 1 Syllabus & Content 01-07 2 Chapter 1: Introduction (2+2+2+2+5+5+10=28 Marks) (Focus) 08-35 3 Chapter 2: Planning (2+2+2 +5 +5=16 Marks Ay 36-53 4 Chapter 3: Organising (2 +2 +2+2+5+10=23 Marks) (Focus) 54-7 5 Chapter 4A: Directing (5 Marks approx) TA-75 6 Chapter 4B: Leadership (2+ 5+ 10 = 17 Marks Approx) 716-83 7 Chapter 5A: Motivation (2+ 10 = 12 Marks Approx) 84-92 8 Chapter SB: Co-ordination (2 +5 = 12 Marks Approx) 93-95 9 Chapter SC: Control: (2+ 10= 12 Marks Approx) 96-101 10. Mock Test paper (Set A & Set B), Top 10 & Top 8 Qns 102-104 Per Subject: = 750; All Subjects: = 2,500. Almost Daily Classes till last Day of Exam. Online, offline & recorded all options. Offline classes at Girish park centre. Contact office for details BOOK PRICE: = 150ADMISSION GOING ON FOR B.com Crash course: PER SUBJECT: & 750 ALL SUBJECTS: = 2500 SYLLABUS OF OLD BATCH HAS BEEN COMPLETED. NOW RESTART CLASSES FROM THE VERY BEGINNING. CONTACT 9883034569 DAILY CLASSES TILL EXAMS: FOR SUGGESTIONS/MOCK TEST/ALL UPDATES: Join telegram: https://t.me/CU_bcom 1sem Join telegram: https://t.me/bhalotia Follow the BHALOTIA CLASSES channel on WhatsApp: https://whatsapp.com/channel/0029VaHYVO MF1YIM1es6uU19 For All updates & Exam time free Marathon Subscribe: https://www.youtube.com/@Bhalotiaclasses Contact office 9883034569/9330960172 for Details. (10 am to 7 pm)Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) Ast Semester (2023-24) Principle & Practice of Management [New Syllabus] Tutorial examination: 25 marks; Semester-end Examinations: 75 marks Unit-4: Introduction: [Marks: 15 Approx] Management-definition, importance, functions, levels of management, managerial tasks and skills Management theories - Classical (Taylor & Fayol), Neo-classical (Elton mayo & Mary Parker Follet) and Modem School of management (Peter Drucker & Michael Porter) Managerial roles (Mintzberg), Social Responsibility of Management and its significance Unit-2: Planning: [Marks: 15 Approx! Meaning, nature, purpose, types, premises, elements of planning and limitations of planning: Strategic planning. concept, process and importance Decision Making - concept, importance; Environment analysis and SWOT analysis [concept and clements] Unit-3: Organizing: [Marks: 15 Approx] Concept, need, principles, steps in organising, different organization structure [line, staff, fanctional, project and new organisational structure ~ basic concepts] Departmentation-need, basis, Delegation of Authority. ements, principles; Centralization and Decentralization of Authority; Span of Management; concept and. factors determining span of management a) Directing: concepts, elements and importance, b) Leadership: Concept, importaneg, types, Major thearies of Leadership (Likert’s system four theory, Blake and Mouton’s Managerial Grid theory, Fred Fiedler’s situational leadership, Tannenbaum & Schmidt's Behavioural Model, Trait theory of leadership) Unit- 5: Motivation, Co-ordination and Gontrol: [Marks: 15. a) Motivation: Concept, steps, importance, Motivation theories:_Maslow’s Need-Hierarchy theory, Herzberg’ s Two- factor theory and McGregor’s theory of X and Y, b) Coordination: concepts, importance, principles: c) Control: concepts, importance and Managerial tools of control QUESTION PATTERN: 10 Questions of 2 Marks Each (out of 15) 5 Questions of 5 Marks Each (out of 8) 3 Questions of 10 Marks Each (out of 5) = 1= Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) Chapter 1: Introduction e een aws ul 12 13. 14, 15. 16. 17. 18. 19, 20, 2. 24, 25, 2. Define Management. [Important] [2 Marks] [90% ]****[RKB] Discuss the Importance of management. [67%] (BHALOTIA) (9883034569) [5 Marks] “Management _is a_process” Discuss. OR What are the functions of Management? [Very Important]**** [99%] [BH ALOTIA] [9883034569] [10 Marks] ‘Is Management a profession”- Comment [BHALOTIA] “Management is both @ Science and an Ait”- Conunent [RKB] State the Universality of Management [BEALOTIA] What is POSDCORB [Very Important] **** [2 Marks} [99% Mention levels of management with a diagram, [2 Marks) [90% What is top level Management? [BHALOTIA] What is Middle level Management? [BHALOTIA] What is Lower level Management? [2 Marks] [30%] (amp) State two Managerial Tasks. [2 Marks] [30%] [BHALOTIA] State some Managerial Skills [2 Marks] [BHALOTIA] State four Features of Management. [BHALOTIA] Mention Top Schools of Management Thought. [BHALOTIA] Explain Classical School of management. OR (a) Whois the father of scientific management? (b) Who What are the elements of scientific management? Discuss the Merits of scientitie management, [BHALOTIA] Discuss the Demerits of scientific management [RKB] Discuss, in brief, fourteen principles of management as propound Hmp]*** (60% Distinguish Between Fayol and Taylor’s Theories of Management. [5 Marks] [40%] [BHALOTIA] Explain Neo-classical school of management OR What is Hawthrone experiment? (2 Marks) [Important]}** [50%] Explain Modern School of management, (BHALOTIA) (9883034569) What Are the ten Management Roles according to Mintzberg's? [5 Marks] [Important] [30% (BHALOTIA) (9883034569) Wha Social_Responsibi {BHALOTIA) (9883034569) Discuss significance _of Social__Responsibility of Management. _[5_Marks|__[60%] (important)****** (BHALOTIA) — 2- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) What is scientific management? [2 Marks] [90%] [VVI****** Discuss five basic features of scientific management, [RKB] Who is the father of scientific management? [2 Marks] [VV] [99%] [Very important] Discuss the important elements of scientific management. Discuss the principles of Taylor’s Scientifie Management. Discuss the five advantages of Taylor’s “scientific management”. (BHALOTIA) (9883034569) Discuss the five limitations of Taylor’s ‘scientific management’, (BHALOTIA) (9883034569) State the contribution of F..W. Taylor in evaluation of management thought, (BHALOTIA) Describe the contribution of Henry Fayol in modern management. OR Discuss the contributions of Henry Fave] to the development of management thought. 110M] [VVII"*"199%1 37. Explain Henry Fayol’s any five principles of management. [5 Marks] [Important]*****[70%] (BHALOTIA) (9883034569) 38. Write a note on Henry Fayol's functions of management. [5 Marks] [Important] [50%] (BHALOTIA) (9883034569) 39. Discuss the Contributions of Administrative Management Theory of Henry Fayol’s. (BHALOTIA) 40. Who is called the father of modern management process? [70% 41. What are the benefits of applying Fayol’s principles of management? (BHALOTIA) (9883034569) 42. Discuss the limitations of Henry Fayol’s theory of Administrative management. (BHALOTIA) 43. Discuss the contributions of Elton Mayo in Human Relations Approach. (BHALOTIA) (9883034569), 44, What is Hawthorne efieet? (BHALOTIA) (9883034569) 45. Discuss the importance of Hawthorne experiment in modem management. (BHALOTIA) 46, Discuss the contributions of Mary Parker Follet to the behavioural school of management. [5 Marks] 47. Discuss the contributions of Peter Drucker (BHALOTIA) (9883034569) 48. Discuss the contributions of Michael Porter. (BHALOTIA) (9883034569) Chapter 2: Planning 49. Define planning OR What do you mean by Planning? [2 Marks] [Very Important] [99% ]****** 50. Discuss the Features/Nature/Characteristics of Planning. RKB 51. Discuss the purposes (Objectives) of planning in an organization [BHALOTIA] $2. Bri lain the importance of ‘planning’. [5 Marks]******* [Important] [80% | 53. What are the elements (Components) of planning? [Imp]*** [50%] [BHALOTIA] 54. What are the limitations of Planning: [5 Marks] (Bhalotia) (9883034569) (RKB) [30%] (BHALOTIA) 55. Discuss the steps in the planning process. [10 Marks] [Imp]** [60%] (BHALOTIA) (9883034569) 56, Discuss the different types of plans. (Bhalotia: 9883034569) 57. “Planning is_a continuous process”- Explain. [2 Marks] [Imp] [90%] [Very imp]***** (BHALOTIA) — 3- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 58. 59, 61. ‘What is Derivative planning? (BHALOTIA) (9883034569) Define Operational Planning, (BHALOTIA) (9883034569) ‘What are the measures to be adopted by an organisation for making its planning effective? Give, an idea of the Planning Premises OR What are the premises of Planning? OR What is Planning Premises [2 Marks] [Very Important]******** [99% | Disouss the importance of Planning Premises. (BHALOTIA) What are the types of Planning Premises (Bhalotia) 9883034569) (RKB) (BHALOTIA) (9883034569) Discuss the Barriers of effective Planning. [10 Marks] [Important] [30%] Bhalotia: 9883034569) What is Strategic Planning? [2 Marks] [Very Imp]******[99%| What are the characteristics of Strategic Planning? [RKB] Discuss the benefits of strategic planning. [BHALOTIA] [9883034569] Discuss the Importance of Strategic Planning. (Bhalotia: 9883034569) (RKB) Discuss the process of Stategic Planning. (Bhalotia: 9883034569) (RKB) ‘What is Decision-Making? [2 Marks] [Very Important) (RKB)*****{90% | Define Decision Making. [2 Marks] [Very Important)***** (Bhalotia: 9883034569) [90%] Mention four Characteristics of Decision Making. [2 Marks] (Bhalotia: 9883034569) Discuss_the_importance_of_ Decision Makin; 10_Marks]****** [Very Important] [80% (Bhalotia: 9883034569) (RKB) Discuss the different steps of Decision-Making? (Bhalotia: 9883034569) (RKB) (Bhalotia) Discuss some decision-Making Techniques. (Bhalotia) What Is a SWOT Analysis? [2 Marks] [99%] [Very Imp]***** What are the elements of SWOT analysis? (Bhalotia) Why Is SWOT Analysis Important? (Bhalotia) What are the limitations of SWOT analysis? [2 Marks] ‘What is environmental analysis? [2 Marks] [Very Important] (Bhalotia: 9883034569)" Importance of environmental analysis (Bhalotia) ‘What are the elements (components) of environmental analysis? (Bhalotia) What is PESTLE Analysis? [RKB] [9883034569/9330960172] Chapter 3: Organising What is organising? [2 Marks] [Very Imp] [99% |***** (Bhalotia: 9883034569) Discuss the Importance or Significance or Need of Organising. [5 Marks] [30%] (BHALOTIA) (9883034569) State the basic principles of an ideal organisation. [10 Marks] [Important] ***[ 60%] (BHALOTIA) ‘Organisation is a process’ — Discuss OR What are the steps of organising. [Very Imp] [99%] 0. Marks**** — 4~ Admission going on for crash course. One Subject 750, All Subjects: 2500 JBhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 88. Discuss the features ofa sound organisation. [RKB] 89, Define Organisation. [2 Marks] [imp] [30%] 90. What do you mean by organisation structure? [2 Marks] [Very Imp]*****190% 91, Features of an Organization Structure (BHALOTIA) (9883034569) 92. What are the different forms of organization Structure? [5 Marks] [30%] (BHALOTIA) (9883034569) 93. Define line organisation. [2 Marks} [very Impl [90%|** 94, Discuss the advantages of line organisation, [RKB] 95, Define a chart for a Line and Staff organisation. 96, Discuss the features of Line and Staff Organization, 97, What is Formal Organisation? What are the advantages & Disadvantages of Formal organisations 98, Give an outline and state the advantages & Disadvantages of Informal organisation, (BHALOTIA) 99, What is meant by fimetional structure of an organisation? [2 Marks] [30%] (BHALOTIA) (9883034569) 100. What are the advantages ofa functional structure? 101. What are the Limitations of Functional Structure? 102. What is meant by Project structure of an organisation? (BHALOTIA) (9883034569) 103. What is Departmentation? [2 Marks] [99%] [VVI]**** 104. Explain the necessity (need) of Departmentation. [5 Marks] [70% ] (BHALOTIA) (9883034569) 105. Define Departmentation. Discuss the advantages and disadvantages of departmentation. [10 M] [30%] 106. Discuss the different types/basis of Departmentation. (BHALOTIA) (9883034569) [30%] 107. What is Delegation of Authority? [VVI]***[2 M] [99% 108. Discuss the elements of delegation of authority. [5M 109, Discuss the prineiples of ‘Delegation of Authority” 110. What is Centralisation of Authority? (Bhalotia: 9883034569) 111. What is Decentralisation of Authority [2 Marks] (Bhalotia: 9883034569) [30%] 112. Difference between Centralization and Decentralization (BHALOTIA) (9883034569) 113. Distinguish between Delegation & Decentralisation [5 Marks] [Very Important]****** (90% 114. What is Span of management (span of control)? [2 Marks] [99%] (Bhalotia)************ 115. Explain the determinants of span of Management OR Explain the factors determining span of management (span of control) [5 Marks] [Imp] [30%]** — 5- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) Chapter 4A: Directing 116. 117, 118, 119. ‘What is Directing? [2 Marks] [80%] [Very imp] ‘What are the main Features of Directing? ‘What are the Elements or techniques of Direction? (5 Marks) [60%] [60%] Discuss the Importance of directing? (5 Marks) [70% Chapter 4B: Leadership 120. 121 122, 123, 124, 125. 126. 127, 128, 129, What is leader ship? [2 Marks] [90%] (Bhalotia)**** Discuss the importance of leadership. [5 M] [70%]*** State the essential qualities (Traits) of a good leader. [5 Marks) [80%|**** (BHALOTIA) State five features of Leadership. [5 Marks] [50%]** Explain in brief leadership styles, [5 Marks] [80%]*** (BHALOTIA) (9883034569) Explain_the continuum _leadership_theory_of Tannenbaum and Schmidt. Iwviys***190% Discuss _Blake _and Mounton’s _le: 180%1***#[BHALOTIA] 19883034569] Discuss Likert’s system four theory in brief Discuss Fred Fiedler’s situational leadership in brief. [BHALOTTA] [9883034569] Discuss Trait theory of leadership [BHALOTIA] [9883034569] ship theory. [10 Marks] [Important] Chapter 5A: Motivation 130, 131 132, 133, 134. 135. 136. 137. 138, 139. 140. 141 Define Motivation? [2 Marks] [90%] [BHALOTIA| State the features of motivations. [BHALOTIA] State the elements of motivations. Discuss the importance of motivation, [5 Marks] [Important] [60%] Explain Maslow's Theory of motivation. [70% i of Motivation OR Explain ‘Dissatisfiers' and 'Motivators' in Herzberg's theory of Motivation. [60%] [BHALOTIA] [9883034569] Compare Maslow’s theory and Herzberg’ s theory of motivations. [95%] [10 Marks] Compare Maslow’s theory and Herzberg’ s theory of motivations. [Another answer [95% Analyse the factors of Motivation. [BHALOTIA] What is Carrot and stick theory of motivation? ks] [50%] [BHALOTIA] [9883034569 Discuss in brief the MeGregor’s Theory X_ & Theory Y of motivation. [80%] [Important]**** Differences between theory X & theory Y [70%] (Lmportant)**** (Bhalotia: 9883034569)" — 6— Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) Chapter 5B: Coordination 142. Define Co-ordi 1? (2 Marks) (90%) (imp) [BHALOTIA] [9883034569] 143. State two features of co-ordinations. [2 Marks] 144, State the importance of co — ordination or Co-ordination is the essence of Management” — 5 Mark: Vv saree 145. Mention four principles of Co-ordination. |? Marks} [Very Important] [90% ]**** 146. § e five principles of coordination. [5 Chapter 5C: Control 147. Define Control. [2 Marks] (Bhalotia: 9883034569) 148. Explain the features of a good control system. 149. State the ortance of control in management. [5M] [Very Important] [60%]***** 150. Briefly state the modern tools of controlli [5 Marks] [Very Important] [95% ]******** 151. Distinguish between planning & Control. [2 M] [30%] 152. Mention four limitations of control. [30%] 153. Control is a continuous process" -Explain. [2M] [80%] [BHALOTIA] [9883034569] 154. "Control is the most important function of management" Explain. [2 Marks] [70% 155. Explain the relationship between planning and control. [2 Marks] [70%] [Important]**** 156. Briefly discuss budgetary control. 157. ‘Return on Investment’ is a tool of control. comment. 158. “Ratio Analysis is a tool of control” Comment 159. State the steps in Control. (Bhalotia:9883034569) ADMISSION GOING ON FOR B.com Crash cours PER SUBJECT: = 750 ALL SUBJECTS: & 2500 DAILY CLASSES TILL EXAMS Join telegram: https://t.me/CU_bcom 1sem Join telegram: https://t.me/bhalotia — 7- Admission going on for crash course. One Subject 750, All Subjects: 2500 JBhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) Chapter 1: Introduction Management-definition, importance, funetions, levels of management, managerial tasks and skills Management theories - Classical (Lavlor & Fayol), Neo-classical (Elton mayo & Mary Parker Follet) and Modern School of management (Peter Drucker & Michael Porter) Managenal roles (Mintzberg), § 1. Define Management. [Important] [2 Marks] [90%]****[RKB] Definitions of management by various author Different management authors have defined management as follows (a) Henri Fayol “Management is to forecast, to plan, to organize, to command, to coordinate and control activities of others.” (b) MP, Rollett “Management is the art of getting things done through people.” [Very Imp] (©) Harold koontz “Management is the art of getting things done through others and with formally organised groups.” (@ FW. Taylor “Management is the art of knowing what you want to do and then seeing that they do itin the best and the cheapest manner.” (©) George R.Terry “Management is a distinct process consisting of planning, organising, actuating and controlling; utilising in each both science and arts, and followed in order to accomplish pre- determined objective.” (® Peter Drucker “Management is a multipmpose organ that manage a business and manages managers and manages workers and work.” 2. Discuss the Importance of management. [67%] (BHALOTIA) (9883034569) [5 Marks] ‘The importance of management is discussed below from different respects (a) It helps in Achieving Group Goals - It arranges the factors of production, assembles and organizes the resources, integrates the resources in effective manner to achieve goals. (b) Optimum Utilization of Resources - Management utilizes all the physical & human resources productively. Management provides maximum utilization of scarce resources by selecting its best possible alternate use in industry from out of various uses. — 8— Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) (© Management Increases Efficiency: A manager increases efficiency through the optimum utilisation of all the resources such as man, machine, material and money. (d) Management Creates a Dynamic Organisation: Manager creates a favourable environment through introducing employees to the benefits of adapting to changes. (©) Management Helps in Achieving Personal Objectives: Managers make employees able through motivation, good leadership and open communication. As a result, they attain their individual objectives, () Reduces Costs - Management uses physical, human and financial resources in such a manner Which results in best combination, This helps in cost reduction, (g) Establishes Sound Organization - No overlapping of efforts (smooth and coordinated fimnetions) Management fills up various positions with right persons, having right skills, training and qualification. (h) Establishes Equilibrium - It enables the organization to survive in changing environment. (i Essentials for Prosperity of Society- Efficient management leads to better economical production which helps in turn to increase the welfare of people. 3. “Management is a process” Discuss. OR What are the functions of Management? [Very Important]**** [99%] [BHALOTIA] [9883034569] [10 Marks] Luther Gullick has given a keyword POSDCORB” where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting, But the most widely accepted are functions of management given by KOONTZ and O'DONNEL ie. Planning, Organizing, Staffing, Directing and Controlling, 1. Planning: organization’ s direction. It is a rational and systematic way of making decisions today that will affect the future of the company. It involves predicting of the future as well as attempting to control the events, It involves the ability to foresee the effects of eurrent actions in the long run in the future Planning is the process of choosing appropriate goals and actions to pursue and then determining what strategies to use, what actions to take, and deciding what resources are needed to achieve the goals, — 9- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 2. Organizing: Organizing as a process involves: (a) Identification of activities. () Classification of grouping of activities. (©) Assignment of duties. (@) Delegation of anthority and creation of responsibility (©) Coordinating authority and responsibility relationships. 3. Staffing Staffing involves: (@) Manpower Planning (estimating man power in terms of searching, choose the person and giving the right place), () Recruitment, Selection & Placement, Promotions & Transfer. (©) Training & Development, Remuneration, Performance Appraisal. 4. Directing ‘The directing function is concerned with leadership, commnnication, motivation, and supervision so that the employees perform their activities in the most efficient manner possible, in order to achieve the desired goals, (a) The leadership clement involves issuing of instructions and guiding the subordinates about procedures and methods () The communication must be open both ways so that the information can be passed on to the subordinates and the feedback received from them. (©) Motivation is very important since highly motivated people show excellent performance with less direetion from superiors. (@ Supervising subordinates would lead to continuous progress reports as well as assure the superiors that the directions are being properly carried out 5. Controlling Controlling is the last function of Management. ‘The controlling function involves: Establishment of standard performance b, Measurement of actual performance c. Measuring actual performance with the pre-determined standard and finding out the deviations. 4. Taking comective action = 10- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 4. “Is Management a profession”. Comment [BHALOTIA] Asa profession, management shot have the fc ing character ics: (a) Well defined curriculum (b) Body of Specialised Knowledge and Techniques (c) Formalised Methods of Acquiring Training and Experience (d) Establishment of Professional Associations, (©) formation of ethical codes for the guidance of conduct (Code of ethics) (1) Priority of Service over Economic Considerations: Conelusi To conclude, we may say that althongh management does not possess all the essential attributes of a profession, it is no doubt emerging as a profession. 5. “Management is both a Science and an Art”- Comment [RKB] Management as an Ar “Art” refers to the application of skill and knowledge to attain the desired result, Art is concerned with the practical application of theoretical knowledge, An art has the following five essentials features: (a) Practical knowledge: (b) Personnel skill (© Result-oriented approach: (@ Constructive skill (Le, creativity) (© Regular practice aimed at further improvement Management as a Science: ‘The basis of science is to search for information by means of determining the cause-effect relationship through observations and experimentation. The essential features of science are as follows. (a) Systematized body of knowledge (b) Continued observations (© Universal validity of principles (@ Principles based on experiments: Conclusion: Management is a process which combines art as well as science in getting the desired results in the best possible manner, Science provides the knowledge about the certain things and art deals with the application of knowledge and skills. Thus management is a combination of arts, science and profession = 11 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 6, State the Universality of Management. [BHALOTIA] Universality of management Management is needed in all types and sizes of organisations, at all organizational levels and in all organizational work areas, and in all organizations, no mnatter where they are located. ‘This is known as the universality of management. In the opinion of Koontz and O'Donnell "Management fimdamentals - theory and principles, have ‘universal application in every kind of enterprise and at every level of enterprise." 7. What is POSDCORB [Very Important]**** [2 Marks] [99%] POSDCORB was coined in 1937 by Luther Gulick and Lyndall Urwick Tt stands for © P: Planning © O: Organizing S: Staffing D: Directing CO: Coordinating R: Reporting B: Budgeting 8. Mention levels of management with a diagram. [2 Marks] [90%] [Very Important]********[BHALOTIA] [9883034569] ‘Now-a-days management is divided into three levels, ‘Top Management Level. (ii) Middle Management Level, (iii) Lower Management Level. Chief Executive Officer, Chief Marketing Officer, Chief Sales Officer, Chief Technology Officer, President, Managing Director Marketing Manager, Purchase Head, Sales Manager, Operations Manager, Branch Manager, Finance Manager See earl Supervisor, Foreman, Clerk, Junior Managers, Inspectors = 12 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 9. What is top level Management? [BHALOTIA] Following are the mai (a) Managing Director (b) Board of Directors (c) Chairperson (@ Chief executive Officers The functions of the top level managers are: (a) Making strategies and goals for the organisation, (b) Taking decisions regarding activities to be performed. (©) Framing policies for the organisation. (@ Responsible for welfare and survival of the organisation. jesignations assigned to indi juals working at this level: 10. What is Midd! Management? [BHALOTIA] They consist of: (a) Divisional heads and sub-divisional heads. (b) Departmental heads like purchase manager, sales manager, finance manager, personnel manager Functions performed at the middle level of management are : (a) Interpret the policies to lower management. (b) Taking decisions regarding the number of personnel in the department (©) Assigning duties and responsibilities to employees in their department. (@ Convey suggestions and grievances of the supervisory level to the top level for the overall smooth, functioning of the organisation. (©) Liable for the ultimate production of respective departments, (© To act as a link between the lower level and the management 11. What is Lower level Management? [2 Marks] [30%] (imp) This level consists of: Supervisors, Foremen, Inspectors Functions performed at the lower level of management are: (a) Providing on the job training to the workers (b) Ensuring the good performance of the workers (©) Giving feedback to the workers (@ Influence others to work more by setting an example (@) Responsible for group unity (® Actas a link between the management and the workers = 13 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 12. State two Managerial Tasks. [2 Marks] [30%] [BHALOTIA] ‘The Many Roles Managers Play in an Organization Information Roles © Monitor * Disseminator * Spokesperson Interpersonal Roles © Figurehead © Leader © Liaison Decisional Roles © Entrepreneur © Disturbance handler © Resource allocator © Negotiator 13. State some Managerial Skills [2 Marks] [BHALOTIA] (a) Technical skills (b) Communication skills, (©) Decision-making skills: (@ Human skills (© Conceptual skills (O Inter-personal skills (g) Diagnostic skills (h) Time-management skills: (Effectiveness skills 14. State four Features of Management. [BHALOTIA] @ — Mixture of Art and Science: (ii) Management as a profession: Gil) Universality: Management is a universal work-process (iv) Management is a dynamic function (¥) — Management is a continuous process (vi) Management is Pervasive (vii) Management is goal oriented process (viii), Management is Multidimensional (x) Management is a continuous process (8) Management is a group activity (xi) Intangible (sit) Composite process — 14 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 15. Mention Top Schools of Management Thought. [BHALOTIA] Different Schools of Thoughts: (A) Classical School- Contributions of Taylor and Henri Fayol; (B)_Neo-classical school-Human Relations approach and Behavioral Science Approach; (C)_ Modern School; System approach and Contingency approach 16. Explain Classical School of management. OR (a) Who is the father of scientific management? (b) Who is the founder of management process school? [2 Marks] [Very Imp]**** [99%] 1. Scientific Management School (Taylor): Frederick Winslow Taylor (1856-1915), populaily known as the “Father of Scientific Management Movement’, was the first to recognise and emphasise the need for adopting a systematic scientific approach to the task of managing an enterprise He published many papers and books and all his contributions were compiled in his book “The Principles of Scientific Management” 2. Management Process School (Henri Fayol): Henry Fayol is considered to be the “Founder of Management Process School’. He points out that management is a functional concept which is universal and applicable to any type of enterprise, be ita ‘business enterprise or otherwise 417. Mention F.W.Taylor’s principles of scientific management. [2 Marks] [80%] [Important]***** [BHALOTIA] FW, Taylor or Fredrick Winslow Taylor, also known as the “Father of scientific management” proved with his practical theories that a scientific method can be implemented to management. In 1909, Taylor published "Phe Principles of Scientific Management." ‘The four principles of management by F.W Taylor aré as follows: Science, not the Rule of Thumb- Harmony, Not Discord- Mental Revolution, Cooperation, not Individualism Development of Every Person to his Greatest Efficieney- 18. What are the elements of scientific management? ‘There are six elements of scientific management as formulated by Taylor (a) Work Study (b) Standardisation of tools and equipment (©) Scientific selection, placement and training (@ Development of fimetional foremanship (2) Introducing costing system (©) Mental system = 15- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 19. Discuss the Merits of scientific management. [BHALOTIA] @ Increase in production in mi (b) Increase in quality of product (©) Reduction in cost of production (@) Increased efficiency (©) Best use of resources and development (® Avoids labor and management disputes (2) Good working conditions imu time 20. Discuss the Demerits of scientific management [RKB] (@) Requires huge capital (b) Time-consuming (©) Not suitable for teams (@ Avoids bargaining (e) Management takes control 21. Discuss, in brief, fourteen principles of management as propounded by Henri Fayol. [10 Marks] [Imp]*** [60%] Hemy Fayolis a French Mining Engineer, who developed the concept of general theory of administration and given 14 principles of management, Henry Fayol, also known as the ‘father of modern management theory’ gave @ new perception of the concept of management. ‘The fourteen principles of management created by Henri Fayol are as below. (a) Division of work (v) Authority and responsibility: (© Discipline: (@) Unity of command: (© Unity of direction: (Subordination of individual interest to general interest: (g) Adequate remuneration: (h) Centralization: (@ Scalar chain: @ Order: (Equity (Stability in the tenure of service and security (qu) Initiative (x) Esprit de crops (Leam spirit) (unity is strength)- — 16- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) The fourteen principles of management created by Henri Fayol are: Henti believed that segregating work in the workforee amongst the worker will enhance the quality of the product, Similarly, he also concluded that the division of work improves the productivity, efficieney, accuracy and speed of the workers 2. Authority and Responsibili ‘These are the two key aspects of management. Authority facilitates the management to work efficiently, and responsibility makes them responsible for the work 3.Discipline- Without discipline, nothing can be accomplished. 4. Unity of Command. ‘This means an employee should have only one boss and follow his command, [fan employee has to follow more than one boss, there begins a conflict of interest and can create confusion. 5. Unity of Direction. ‘This means all the person working in a company should have one goal and motive which will make the work easier and achieve the set goal easily 6. Subordination of Individual Interest. This indicates a company should work unitedly towards the interest of a company rather than personal interest. Be subordinate to the purposes of an organization. 7. Remuneration. Remuneration can be monetary or non-monetary. However, it should be according to an individual's efforts they have made 8. Centralization- In any company, the management or any authority responsible for the decision-making process should be neutral. However, this depends on the size of an organization 9. Scalar Chais Fayol on this principle highlights that the hierarchy steps should be from the top to the lowest. 10. Order- A company should maintain a well-defined work order to have a favourable work culture, 11. Equity AlLemplovees should be treated equally and respectfully, 12. Stability. An employee delivers the best if they feel secure in their job. 13. Initiative. ‘The management should support and encourage the employees to take initiative 14. Esprit de Corps (team spirit) (unity is strength)- = 17- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 22. Distinguish Between Fayol and Taylor's Theories of Management. [5 Marks] [40%] [BHALOTIA] [RKB] Henry Fayolis a French Mining Engineer, who developed the concept of general theory of administration and given 14 principles of management. On the other hand. F.W. Taylor is an American Mechanical Engineer, who advanced the concept of Scientific Management and given 4 Principles of Management. BASIS FOR SoCo HENRY FAYOL F.W. TAYLOR Meaning Henry Fayol, is a father of modern _| F.W. Taylor, is a father of scientific management who laid down management who introduced four fourteen principles of principles of management, for management, for improving overall | increasing overall productivity. administration. Concept General theory of administration _| Scientific Management Emphasis Top level management Low level management Applicability Universally applicable Applies to specialized organizations only. Basis of Personal Experience Observation and Experimentation formation Approach Manager's approach Engineer's approach 23. Explain Neo-classical school of management OR (a) What is Hawthrone experiment? (2 Marks) [Important]** [50%] Human Relations School (Elton Mayo) (‘Hawthorne Experiment” In the early twentieth century Elton Mayo, professor at the Harvard Unversity, could realise the importance of this thought by experiments and observations in the factory of the Wester Electric Company at Hawthorne city in Chicago. These experiments and observations of Prof. Elton Mayo are known as ‘Hawthome Experiment’ He thought that the produetivity of workers depends upon human relationship, Other important propagators of this school of management thought are—Roethlis Berger, William J. Dickson, Mary Parker Follet and A. F, Maslow. — 18— Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) Human Behavioural School (Mary Parker Follet) ‘According to this school, performance of managerial activities in consideration of the conduct or behaviour of working personnel is an effective and decent management. In this respect, the contribution of Mary Parker Follet, a member of Human Behaviour School, is particularly mentionable. Other notable propagators of this school are A. F. Maslow, F. H. Herzberg, MeGregor 24. Explain Modern School of management. (BHALOTIA) (9883034569) Apart om classical, neo-classical and modern theorists, there are some other experts who have significantly contributed in the field of management. Let us study about these contributors. (a) Peter F. Drucker (b) Michael Porter Peter F. Drucker Some of the important contributions made by Peter Drucker in field of management are as follows. (a) He originated the concept of Management by Objectives (MBO) (b) He was considered as the father of modem management. (©) He considered management as both a discipline as well as a profession (@) He defined the basic fumetions of a manager which include setting objectives, organising and motivating (@) He defined three characteristics of an effective organisation, namely © Organising for performance © Least nnmber of managerial levels © Training and festing of managers for future Michael Porter Michiel Porter was a contemporary management thinker, Harvard professor and a prominent expert on. competition. He developed the theory of competitive strategy. The theory defines the way managers can influence conditions in industry while they interrelate as buyers, rivals, suppliers, and so on, In his book “The Competitive Advantage of Nations’, he has advised that countries with strict norms and regulations related to environment have more competitive advantage at the global level. Michael Porter has categorised an industry setting in five forms in his book, ‘These are as follows. (a) Fragmented industries (b) Emerging industries (c) Industries undergoing a transition to maturity (a) Declining industries (c) Global industries — 19 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 25. What Are the ten Management Roles according to Mintzberg's? [5 Marks] [Important] [30%] (BHALOTIA) (9883034569) ‘Mintzberg published his Ten Management Roles in his book, "Minizberg on Management: Inside our Strange World of Organizations,” in 1990. The ten management roles are: (a) Figurehead, (b) Leader. (c) Liaison, (@ Monitor. (e) Disseminator. (® Spokesperson. (g) Entrepreneur (a) Disturbance Handler. (@ Resource Allocator (Negotiator. The 10 roles are then divided up into three categories, as follows Category Roles Figurehead Interpersonal Leader Liaison Monitor formational Disseminator Spokesperson Entrepreneur Disturbance Handler Decisional Resource Allocator Negotiator — 20- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 26. What is Social Responsibility of Management? [2 Marks] [90%] (important)****** (BHALOTIA) (9883034569) ‘The social responsibilities of management refer fo the obligations and duties of a business or organization to contribute positively to society beyond its economic goals and objectives. Here are some examples of social responsibilities of management: (a) Ethical behavior (©) Environmental sustainability (©) Corporate social responsibility (@) Fair labor practices: (e) Customer satisfaction () Compliance with regulations: (g) Financial responsibility: 27. Discuss significance of Social Responsibility of Management. [5 Marks] [60%] (important)****** (BHALOTIA) Social responsibility is defined as the obligation and commitment of managers to take steps for protecting and improving society’s welfare along with protecting their own interest. The managers must have social responsibility because of the following reasons: (a) Organizational Resources - An organization has a diverse pool of resources in form of men, money, competencies and functional expertise. When an organization has these resources in hand, itis in better position to work for societal goals, (©) Precautionary measure- if an organization lingers on dealing with the social issues now, it would land up putting ont social fires so that no time is left for realizing its goal of producing goods and services, Practically, it is mote cost-efficient to deal with the social issues before they tum into disaster consuming @ large part if managements time: (c) Moral Obligation - The acceptance of managers” social responsibility has been identified as a ‘morally appropriate position, It is the moral responsibility of the organization to assist solving or removing the social problems (@ _ Efficient and Effective Employees Recruiting employees becomes easier For socially responsible organization, Employees ate attracted to contribute for more socially responsible organizations. For instance - Tobacco companies have difficulty recrniting employees with best skills and competencies. (@) Better Organizational Environment - The organization that is most responsive to the betterment of social quality of life will consequently have a better society in which it can perform its business operations, Employee hiring would be easier and employee would of a superior quality. ‘There would be low rate of employee tumover and absenteeism. Becanse of all the social improvements, there will be low crime rate consequently less money would be spent in form of taxes and for protection of land. Thus, an improved society will create a better business environment = 21 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 28. What is scientific management? [2 Marks] [90%] [VVI]****** Scientific management, also known as Taylorism, is a management theory developed by Frederick ‘Winslow Taylor in the late 19th century. It involves the application of scientific principles and methods to optimize and improve work processes and productivity Scientific management implies working according to standardised techniques and tools and with the help of specislised personnel so as to improve the quantity as well as the quality of the produet and the same time redncing the costs. Scientific management is also known as Taylorism. 29. Discuss five basic features of scientific management. [RKB] The following are the main characteristics of scientific management: (1) Systematic Approach: Scientific management is a systematic, analytical and objective approach to management which makes sure that all activities are carried out a systematic and scientific manner. 2) Improves the Efficiency of Workers: The main aim of scientific management is to inotease the efficiency of workers. This is done through conducting various kinds of studies such as time study, motion study and fatigue study. ‘This makes scientific management almost a tool for the enhancement of workers’ efficiency whose benefit ultimately goes to the organisation itself, G3) Useful for Large Organisations: Since the scientific management system is quite expensive to implement, it is useful only for larger organisations. Time is not far when this extensive nature of Scientific management is made less costly for small organisations. (4) Attempts to Minimise Wastes: Scientific management aims at minimising the waste of time, materials, machine, etc. This is indeed very essential to achieve higher level of performance and easier and quicker way to achieve goals. @®)Discards Traditional Management: ‘The approach of scientific management completely discards traditional management. It calls for the discarding of old techniques and adoption of new and modern techniques, with the aim of improving the eflicieney of employees. This is nothing but the outeome of complete change in attitude (©) Mental Revolution: Scientific management brings a complete change in the mental attitude of employees along with the management, The aimn is superior production targets as opposed to just chasing higher profits. (7) Increases the Productivity of Employees: The key purpose of scientific management is to boost the performance of employees — 22 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 30. Who is the father of scientific management? [2 Marks] [VVI] [99%] [Very important] (BHALOTIA) (9883034569) Frederick Winslow Taylor is known as the Father of Scientific Management, which also came to be known. as “Taylorism.” Taylor believed that it was the role and responsibility of manufacturing plant managers to determine the best way for the worker to do a job, and to provide the proper tools and training 31. Discuss the important elements of scientific management. ‘Taylor Advocated the following elements of scientific management. - 1. Work Study, 2. Standardisation of Tools and Equipment, 3. Scientific Selection, Placement and Training, 4. Development of Functional Foremanship, 5. Introducing Costing System, 6. Mental Revolution! 1. Work Study: ‘Work study is related to analysing the work to be performed by eliminating umecessary operations and finding out the quicker way of doing it, Work study eliminates wasteful and unnecessary operations, reduces effort and increases productivity 2. Standardisation of Tools and Equipment: Standardisation of tools and equipment was an important element of scientific management. Taylor wanted to use only ‘the best way of doing the work. Proper tools and equipment are essential for increasing the efficiency and speed of work 3. Scientific Selection, Placement and Training: ‘The efficiency and quality of work is linked to the kind of persons selected for taking up different jobs. ‘Taylor wanted a radical change in the methods and procedures of selecting workers. Workers should be selected by considering their education, experience and attitude towards work 4. Development of Functional Foremanship: Taylor pleaded the concept of fimetional foremanship. He felt that workers and factory executives should be freed from the burden of planning and designing. Functional foremanship is the extension of the principle of specialisation or division of labour to the sphere of management. & Introducing Costing Svstem: Another important element of scientific management is the introduction of efficient system of cost accounting. It is a technique used to calculate cost per unit and total cost of production. Mental Revolution: Sunply stated mental revolution is concemed with bringing basic change in the mental attitude of workers and the management towards each other. Scientific approach means radical changes in the approach to solve problems regarding work and managerial control. — 23- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 32. Discuss the principles of Taylor's Scientific Management. F.W. Taylor or Fredrick Winslow Tayler, also Inown as the ‘Father of scientific management’ proved with his practical theories that a scientific method can be implemented to management, Four principles of management by FW Taylor are as follows: 1, Science, not the Rule of Thumb- Amanager should develop a rule of science for each aspect of a job. Following this principal ensures that ‘work is based on objective data gathered through research rather than rules of thumb. 2. Development of Every Person to his Greatest Efficiency- Scientifically select and train each worker, Prior to Taylor’s work, the selection of workers was made based on favoritism, nepotism, or random choice. Likewise, workers were usnally selected for a particular job with little consideration of whether they were physically or mentally fit to perform it. Taylor changed this viewpoint by using research to find the best worker for the job 3. Cooperation, not Individualism. Management and the workforce should work together to ensure that work is performed according to the principles of management. Taylor’s observation went against the long-established principles of both ‘management and the worker who believed that each was the other’s enemy. Rather than enmity, Taylor stressed cooperation and the need for the work relationship to be mutually beneficial 3. Division of work & responsibility Work and responsibility should be equally divided between management and workers, Previously, management set the direetives, and workers obeyed or blocked them. Taylor believed that management and workers had joint responsibilities to each other Principles of Scientific Management First. They develop a science for each element of a man’s work, which replaces the old rule- of-thumb method. Second. They scientifically select and then train, teach, and develop the workman, whereas in the past he chose his own work and trained himself as best he could, Third. They heartily cooperate with the men so as to ensure all of the work being done in accordance with the principles of the science which has been developed Fourth. There is an almost equal division of the work and the responsibility between the management and the workmen. The management take over all work for which they are better fitted than the workmen, while in the past almost all of the work and the greater part of the responsibility were thrown upon the men — 24 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 33. Discuss the five advantages of Taylor's ‘scientific management’, (BHALOTIA) (9883034569) Advantages of scientific management are as follows (a) Enhanced production: Due to harmonious relationship between management and workers, there will be increased productivity. (») Ability to control: The employees perform repetitive tasks and are therefore easily controlled by the management (©) Reduced cost of production: Due to large scale production, there is a marked decrease in the cost per unit of production, (@) Positive work environment: It stimulates management to adopt a healthy relationship with the owners. (© Reduction in production time: As all the instructions are followed in a systematic manner under scientific management, therefore there is a reduced production time. () Benefits of Division of Labour: The principle of specialisation adopted under scientific management ensures the benefits derived from the division of labour. The work is simplified and is carried out in most economical and efficient manner. 34. Discuss the five limitations of Taylor's ‘scientific management’, (BHALOTIA) (9883034569) Limitations of scientific management are as follows: (a) Exploitative devices: The benefits of increased productivity were not shared with the workers, therefore there was no change in the economic condition of the workers. () Depersonalised work: The workers were doing the same kind of work everyday, which led tomonotony. (©) Undemoeratie; There was no rotation of work, challenging tasks were performed by a specific g10up of workers while others were burdened with routine work (@ Unrealistic: ‘The scientific management theory focused mainly on the financial and physical needs of the workers, while ignoring the ego needs and social status of the workers, (©) Requires huge capital: Setting up of work study, planning department and training of workers involves considerable amount of investment. () Autocratie: It provides total control to the superiors in the way they manage the subordinates, which leads to dissatisfaction among workers — 25- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 35. State the contribution of F.W. Taylor in evaluation of management thought. (BHALOTIA) (9883034569) F.W. Taylor or Fredrick Winslow Taylor has made several important contributions to management theory and practice, Some of the key contributions are as follows: 1, Increased efficiency and productivity: One of the major contributions of scientific management is increased efficiency and productivity in the workplace. Scientific management aims to break down work processes into small, simple tasks and optimize each task to make it more efficient. This approach has led to significant improvements in work processes and increased productivity. 2. Standardization of work: Another significant contribution of scientific management is the standardization of work processes. Scientific management advocates for the use of standardized tools, procedures, and work processes to eliminate variability in work output and increase consistency in product quality. This standardization has been essential to the success of many industries, particularly those involved in mannfacturing 3. Emphasis on measurement and analysis: Scientific management advocates for the use of time and motion studies to measure work processes and optimize them for maximum efficiency. This approach has been instrumental in improving work process and worker performance. S 4. Development of management as a profession: Scientific management advocates for the development of training programs to ensure that workers have the necessary skills and knowledge to perform their jobs effectively. This approach has been instrumental inimproving worker performance and productivity §. Worker training and development: Scientific management advovates for decision-making based on data and analysis, rather than on intuition or guesswork. This approach has been instrumental in improving decision-making and organizational performance. Under scientific management, decision-making is based on data and analysis rather than on intuition or guesswork, Data is collected and analyzed to identify pattems and trends, which are then used to inform decision-making. This approach helps to ensure that decisions are based on objective data and analysis rather than on subjective opinions or biases — 26- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 36. Describe the contribution of Henry Fayol in modern management. OR Discuss the contributions of Henry Fayol to the development of management thought. [10M] [VVI]***[99%] Henry Fayol is popularly known as the father of modern management as he suggested the 14 principles of management in the 20th century, His research and findings helped several enterprises scale their production and work in an efficient manner. He concentrated on the essential parts of a manager’s work in ensuring the produetion eycle Major contuibution of Henry Fayol are as follows: (1) First to identify four functions of management. He was the first to give the fictions of management in terms of Planning, Organizing, Directing and Controlling by giving Plan, organize, command, coordinate and control as the main functions of a manager 2) Classification of activities of an Industrial_undertaking. He classified the activities of an industrial undertaking as under: (a) Technical activities: activities relating to production () Commercial activities: activities relating to buying and selling. (©) Financial activities: activities relating to arrangement and use of | (@ Security activities: activities relating to the safety of human and physical resources. (e) Accounting activities: activities relating to preparing the accounting records () Managerial activities: activities relating to getting the work done through others. inances. (3) Qualities of manager. Hemy Fayol suggested the qualities of a good manager (a) Physical qualities. (®) Moral qualities. (©) Education. (@ Knowledge (©) Experience (4) Fourteen Principles of Management: Fayol has given fourteen principles of management, Henri Fayol's techniques of management, known as the "14 Principles of Management,” include division of work, authority, discipline, unity of command, ‘unity of direction, subordination of individual interest to the general interest, remmmeration, centralization, scalar chain, order, equity, stability of tenure of personnel, initiative, and esprit de comps. — 27- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 37. Explain Henry Fayol’s any five principles of management. [5 Marks] [Important]*****[70%] (BHALOTIA) (9883034569) Fayol has given fourteen principles of management, some of them are as follows: @) Division of Work: This principle states that there should be division of work amongst the persons. Every person should be assigned a separate job, Division of work implies distribution of activities in a logical way so that each person performs his assigned work only. There should not be any duplication of work and for each work only one person be held liable or responsible for his performance. (b) Authority & Responsibility: Authority implies power or right to instruct the subordinates to get the things done, Responsibility on the other hand implies the extent to which a person is liable for one’s performance. According to Fayol, there should be a balance between authority delegated to a person and his responsibility for being liable in case of deficieney in his performance (c) Discipline: Discipline implies working in an orderly manner. It involves obedience, following of instructions, orders as well as adherence to rules, procedures and methods. According to Fayol, discipline requires good superior at all levels, clear and fair agreements and judicious application of penalties. @ Unity of Command: According to Fayol, there should be one and one only boss for every individual employee, If an employee gets orders from two superiors at the same time the principles of unity of conunand is violated. (e) Unity of Direction: According to this pringiple, each group of activities with the same objective must have one head and one plan. Unity of direction is different from unity of command in the sense that the former is coneemed with funetioning of the organization in respect of its grouping of activities or planning with the later is concerned with personnel at all levels in the organization in terms of reporting relationship. ( Remuneration of employees: The quantum and method of remuneration to be paid to the workers should be fair, reasonable, satisfactory & rewarding of the efforts, (@) Sealar Chain: Scalar Chain implies chain of superiors from the ultimate or top authority to the lower rank in the organization, Scalar chain refers to the route which the commmnications follow while flowing fiom one level to the ultimate authority. There should be a scalar chain of authority and of communieation ranging from the highest to the Lowest. h) Esprit De Corps (Union is Strength): The phrase esprit de corps means the spirit of loyalty and devotion which unites the members of a group — 28— Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 38. Write a note on Henry Fayol's functions of management. [5 Marks] [Important] [50%] (BHALOTIA) (9883034569) The 5 Funetions of Management by Henti Fayol are as follows ‘The first fimction of management is planning. Planning involves setting objectives and developing a course of action for achieving those objectives, It requires managers to think ahead and anticipate potential problems ot opportunities that could impact the organization. Onee a plan has been created, itis important to monitor progress and make adjustments where necessary to ensure that objectives are still being met. 2. Organizing: ‘The second function of management is organizing. This involves putting the resources of the organization to work in a way that will best accomplish the objectives outlined in the plan. ‘This inchides things like developing structure, assigning tasks, and allocating resourees, It is emueial for ‘managers to consider both the short-term and long-term needs of the organization when organizing, Commanding: The third fimction of management is commanding. This involves giving employees the direction they need to complete their tasks and ensuring that they have the resources they need to do so. It also includes setting performance standards and providing feedback to employees on their progress. In order for this function to be effective, managers need to have a clear understanding of what they expect from their employees and be able to communicate this in a clear and concise way. 4. Coordinating: The fourth function of management is coordinating, This involves bringing all the different parts of the organization together and making sure they are working towards the same goal This includes things like communication, team building, and conflict resolution, Coordinating is important because it helps to ensure that the organization is running smoothly and efficiently Controlling: The fifth and final function of management is controlling. This involves monitoring progress towards objectives and making changes where necessary to ensure that goals are still being met. It also includes taking corrective action when problems arise, Controlling is essential because it helps managers to identify and correct issues before they get out of hand, — 29- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 39. Discuss the Contributions of Administrative Management Theory of Henry Fayol’s. (BHALOTIA) (9883034569) ‘The idea of administrative management theory is very much applicable to modem business practices Some of the contributions of administrative management can be pointed out below as: (a) This theory proposes five management functions as the foundation of the study of management ‘They are planning, organization, commanding, coordinating, and controlling. Such fimetions are common in any organization. (©) This theory provides fourteen universally applicable principles of management which are taken as basic principles of management in all organizations. (©) This theory advocates various skills and knowledge in managers to operate organizations more efficiently and effectively. Thus, managers get encouragement for acquiring skills like physical, ‘mental, moral, educational, technical, and work-related experiences. (@) Fayol classified the whole business activities into six categories technical, commercial, financial, security, accounting, and managerial. This helps to identify activities to be done to attain organizational goals and get the right man at the right job. (c) It has provided a venme for modern management theories applicable in this complex and dynamic business environment. 40. Who is called the father of modern management process? Henry Fayol is popularly known as the father of modern management as he suggested the 14 principles of management in the 20th century, His research and findings helped several enterprises seale their production and work in an efficient manner. He concentrated on the essential parts of a manager’s work in ensuring the produetion eycle 41. What are the benefits of applying Fayol's principles of management? (BHALOTIA) (9883034569) ‘There are many benefits to applying Fayol’s principles of management, including (a) Increased efliciency and productivity (©) Improved decision-making (c) Reduced costs (@) Increased employee morale (¢) Improved customer satisfaction () Enhanced organizational performance — 30- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 42. Discuss the limitations of Henry Fayol’s theory of Administrative management. (BHALOTIA) (9883034569) Some limitations of administrative management are pointed out below (a) ‘This theory has limited application for complex and dynamic business. () _Fayol’s principles cannot be applied universally in all situations as he claimed. (©) Human behavior and relations in the organization are totally ignored in this theory but these things are more crucial in maintaining good industrial relations. (@ Workers were treated as tools rather than resources. This theory is also mechanistic, in nature. 43. Discuss the contributions of Elton Mayo in Human Relations Approach. (BHALOTIA) (9883034569) Mayo was the first person to plead for the understanding of workers’ problems the context of growth of science and technology. He wished the management to understand the problems of workers and make efforts to redress them. Mayo’s work was a tuning point in the development of management thought. His main contributions are discussed as follows 1. Human Relations Approach: Mayo is rightly called the father of human zelations movement. His ideas were a milestone and a tuning point in human relations approach of the management. He recognised the importance of human beings in management. He said that human beings are complex and influential input into organisational performance, The social and psychological needs of human beings cannot be ignored, if management wants to enhance productivity. i wards: ‘The earlier assumption was that workers will work more if they are offered more monetary incentives. ‘Taylor was the main proponent of this approach Elton Mayo said that the techniques of economic incentives were not only inadequate but also unrealistic, 3. Social Man: Mayo developed a concept of ‘social man’, He said that man is basically motivated by social needs and obtains his sense of identity through relationships with others. He is more responsive to the social forces. of the informal group rather than managerial incentives and controls, He also related productivity to a social phenomenon. 4. Organisation as a Social System: Mayo was of the view that informal relationships in the organisation are more effective than formal relationships, People form informal groups to give a bent to their feelings and seek guidance for action from such groups. Hawthorne Effect — 31 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 44. What is Hawthorne effect? (BHALOTIA) (9883034569) In 1924, an experiment was conducted by Elton Mayo, an Australia-bom sociologist at the Hawthome plant of the Western Electric Company. The Hawthorne studies consisted of a series of worker productivity studies, which began around 1924 at the Wester Electric plant in Tllinois, near Chicago. ‘The Hawthome effect is the modification of behavior by study participants in response to their knowledge that they are being observed or singled out for special treatment. In the simplest terms, the Hawthorne effect is increasing output in response to being watched, 45. Discuss the importance of Hawthorne experiment in modern management. (BHALOTIA) (9883034569) In 1924, an experiment was conducted by Elton Mayo, an Australia-bom sociologist at the Hawthome plant of the Wester Electric Company. The simple experiment was aimed at evaluating the effect of ‘working conditions on produetivity. When the lighting in the work area for few workers was inereased, it was observed that the productivity . Here are a few ways in which the ‘Hawthome Effect can be used in modem workplaces. 1. Listening is important: The Hawthorne effect established that the productivity of employees increased dramatically when they felt they were being heard. In fact, this is a great lesson for today’s leadership, who need to give a patient hearing to their tearm members. 2. Observation over vigilance: The Hawthome effect established that employees tend to perform better when they are being observed, 3. Right people in the right group: Employees who are usually productive can become unproductive when placed in the wrong group. At the same time, attentive and communicated mindfulness of how others. 4. Gender diversity: Women are increasingly entering male-dominated professions. However, they are often made to feel unwanted by male peers, which leads to low prodnctivity 5. God of small things: Organisations need to realise that the tools used for motivation don’t need to be in the form of ‘big’ things. Sometimes, small changes work wonders in improving productivity. Hawthome’s experiments were criticized for lack of scientific and vigorous research. The experiments were too narrow to warrant generalizations. Despite these observations Mayo’s work was a tuning point in the development of management thought. — 32- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) 46. Discuss the contributions of Mary Parker Follet to the behavioural school of management. [5 Marks] [30%] According to Mary Parker Follet, the main function of a manager is to analyze the forces and emotions that play in omganization process. So, it can be said that her approach was psychological rather than physical, dynamic rather than static Her contribution to the Management can be explained as follows: (a) Authority: Formerly authority was taken to mean in terms of status of one man having power over another. This would create an adverse effect on human emotions and desires. So, the old conception of authority must be abandoned. As stich, the employer-employee relationship has to re-structure on fimetional cooperation so that each and every employee has his opportunity to contribute effectively to administration and management. (b) Conflict: ‘There may be differences in individuals, but they are valuables because each of them has a notable contribution to the progress of the group. Such differences should be considered as an avenue towards a vehicle of progress. (c)Integration: Follet looked upon business as integrative unity, According to her the whole undertaking will be recognized into sm effective unit. Hermain theme rests with how to deal fairly and fruitfully with one's fellows, to apply scientific methods to the problems of management. (d)Individual and Environment: According to her, the workers wino work in the institutions are considered more important than the institution itself. The key to the solution of problems lay in the reaction of individuals to the environment, (©) Leadership: According to Follet, he will be recognized as a leader who can energize his group, who knows how to encourage initiative, how to draw from all what they have to give. On the other hand, he will not be called a leader who merely succeeds in persuading his subordinates to follow his. (1) Control Is contended that control is a power exercised as means towards specific end. The work ‘contro is now taking on a new horizon. It is known es fact-control rather than man-control. The concept of fact-contzol leads to that of the Iaw of the situation. (g) Group: ‘No man desires to live in an isolated way, He has to take a group life, His association with fellowmen gives rise to powerful emotions which reflect his action as a member of the group. He does not want to be the sole-creator of his own thoughts and actions. He wants to share the results of work with others (h) Law of the Situatio: She said, "One of the greatest problems in industry is how to effect reconciliation between receiving orders and taking responsibility. The law of the situation brings about this reconciliation logically and persuasively. Co- active power is more effective than coercive power." (@) Co-ordination: Co-ordination is the harmonization of different pasts. Co-ordination has four aspects, namely—{a) The reciprocal relation of all the factors in a situation; (b) Direct relationship with the responsible person concemed: (c) Introduction at the eatly stages and (d) Continous process. Objectives can be achieved with harmonization of all the factors, — 33 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 47. Discuss the contributions of Peter Drucker (BHALOTIA) (9883034569) Drucker’s contributions to management: 1. Nature of management: Drucker opposed bureaucratic management and was in favour of creative management. According to him, the aim of management should be to innovate. This could be done in the form of combining old and new ideas, developing new ideas, or encouraging others to innovate. 2. Management functions: According to Drucker, management is the key organ of any organisation. In his opinion, management is performed through a series of tasks. A manager has to perform several functions such as setting of objectives, increasing productivity, organising and managing social impacts and responsibilities, and motivating employees. 3. Organisation structure: According to Drucker, there are three characteristics of an effective organisation structure as explained below: (a) The institution must be structured to achieve maximum performance, (©) It should contain least possible number of managerial levels, (©) It must be responsible for the testing and training of future managers. 4, Decentralisation A common theme aeross snuch of Drucker’s enormous body of work was his firmly held belief that managers should delegate tasks in order to empower employees, the decentralisation of management. 5, Management by objectives (MBO): This is considered to be one of the most important contributions made by Dmueker to the field of management, Management by objectives (MBO) is a management approach where equilibrium is required tobe achieved between the objectives of employees and the objectives of an organisation, ‘There are certain conditions that must be met to anake MBO management a suecess 6. Organisational Changes: According to Peter F. Drucker, swift technological development will result in speedy changes in the society. He expresses concer about the effect of these rapid changes on Inman life, He says that these changes can be counteracted by developing dynamic organisations that are adept at absorbing change — 34- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 48. Discuss the contributions of Michael Porter. (BHALOTIA) (9883034569) Michel Porter developed several analysis and management tools which include Porter's five forces analysis, value chain analysis, competitive advantage theory, strategic group analysis and generic strategies. ‘These tools are normally applied to specific management functions, The significance of these tools in the process of strategic management can be explained as follows 1L.Yalue Chain Analysis A value chain refers to the various activities that a fim perform in order to produce the end good or service ina given industry. At each stage “value is added to the produet” In order to deliver value to enstomers, companies must identify the point at which value is created or lost in their processes. Michel Porter developed.a model for analyzing the value chain in order to help in determining where value is created or lost within a fin, The costs and value associated with the activities of the fizm determines whether or not products with the best value are produced by the company petitive Advantage Competitive advantages refer to the unique attributes that distinguish a company from the rest and improves its competitiveness within an industry. According to Porter, a firm should pursue policies aimed at producing high-quality products which are then sold at high prices, Competitive advantage is attained when the firm develops attributes which enable it to outperfonn its rivals. Thns achieving competitive advantage implies the ability to realize high performance through attributes and resources. In the context of management, achieving competitive advantage involves successful implementation of strategic goals. Generic Strategies ‘The relative position occupied by a firm within an industry determines whether its profitability will be above or below the average profitability levels of the industry. Sustainable competitive advantage is the main determinant ofa firm’s ability to realize above average profits in the long-run. 4. Porter’s Hive Forces Analysis Porter developed a framework for analyzing the level of competition in an industry. His framework identifies five forces which determine the level of competition within an industry, The forees inelude “thneat of new entrants, bargaining power of buyers, threat of substitute products, bargaining power of suppliers and threat of competitive rivalry” — 35- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569): 1st Sem: PPM NEW (Subjective Qns) Chapter 2: Planning Meaning, nature, purpose types, premises, elements of planning and limitations of planning, Strat: Janning- concept, process and importance, Decision Making - concept, importance; Environment analysis and SWOT analysis [concept and elements] 49. Define planning OR What do you mean by Planning? [2 Marks] [Very Important] [99%]****** (BHALOTIA: 9883034569) Planning is the first fnction of management. Planning is the process of thinking before doing regarding the activities required to achieve a desired goal. Planning means deciding in advance what to do, why to do it, and when to do it. Planning is the process of establishing the goals and objectives of a project and determining the resources and actions needed to achieve those goals, Some important definitions of planning are given as under: 1. “Planning is deciding in advance what to do, how to do it, where to do it and who is to do it.” — Koontz and o’ Donnell. 2. ‘Planning is deciding the best alternative to perform different managerial operations for achieving predetermined goals.’ - [Henry Fayol] 3. ‘Planning is a continuous process of making present entrepreneurial decisions systematically.” ~ [Peter F. Drucker] jiscuss the Features/Nature/Characteristics of Planning. RKB la 1. Planning Contributes to the Objective. Planning is the primary funetions of management that contributes immensely to the achievement of predetermined objectives. Planning is the first step that any manager or anyone adapts to use to move towards any goal 2. Planning is all pervasive. Planning is universal, [t is requized at all levels of management and in all departments of enterprise. Of course, the scope of planning may differ from one level to another. The top level may be more concemed about planing the organization as a whole whereas the middle level may be more specific in departmental plans and the lower level plans implementation of the same 3. Planningis Futuristic. We do planning for the future, Henee itis called a futuristic process. We always stay in the present and plan for the future, Planning is never done in the past 4. Planning is Continuous process. We plan to achieve any goal. Planning is done for a specific period of time, It may be for a month, a quarter, ot a year. There is always a need for a new plan after the expiry of that period. Henee it is called a continuous process — 36 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 5, Planning Involves Choice & Decision Making. In planning, function managers evaluate various alternatives and select the most appropriate way to manage things. 6. Planning is a Mental Exercise- In planning, assumptions and predictions regarding the future are made by scaming the environment properly. This activity requires a higher level of intelligence. 7. Planning is goal-oriented: Planning is made to achieve desired objective of business 8. Planning islooking ahead: Planning is done for future. 9. Planning is an intellectual process: Planning is a mental exercise involving creative thinking, sound judgement and imagination. Planning is always based on goals, facts and considered estimates. 10. Planning is Flexible: Planning is done for the future. Since future is unpredictable, planing must provide enough room to cope with the changes in customer's demand, competition, govt. policies ete Under changed circumstances, the original plan of action must be revised and updated to make it more practical. 51. Discuss the purposes (Objectives) of planning in an organization. [BHALOTIA] [9883034569/9330960172] ‘The following are some of the important purpose of planning in an organization. a. Facilitates Accomplishment of Objectives The aim of planning is to facilitate the attainment of objectives. It focuses its attention on the objectives of the organization. b, Ensures Keonomy in Operations Since planning emphasizes efficient operation and consistency, it minimizes costs and gains economical operation, Coordinated group effort, even flow of work and deliberate decisions are due to planning, ¢. Precedes Control, Control involves those activities which are carried out to force events to conform to plans. Plans serves as standards of performance. Control seeks to compare actual performance with set standards. So control cannot be exercised without plans. d. Provides for Future Contingency: Planning is required because future is uncertain. Planning enables the management to look into the future and discover suitable alternative course of action, Facilitates Optimum Utilization of Resources, Various resources that are relevant to an organization namely, finds, physical resources, manpower, technological know-how, ete., are by and large inadequate due to demand from competing organizations and have alternative uses. — 37- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) f£. Pre-requisites for other Managerial Functions The purposes of planning is to provide a conceptual and concrete basis for initiating and undertaking other mnanagerial functions like staffing, organizing, directing and control g. All Pervasive Function: Planning is a function of managers at all levels though the seope, nature and extent of planning differs from one enterprise to another and from one level to another 1. Coordinates the Activities: Coordination is an important factor for the smooth functioning of an organization. As pointed out by H.G. Hicks, If planning is absent, various divisions of the organization may pursue different objectives: i, Provides for the Delegation of Authority Planning provides for the delegation of authority to subordinates. Well-formulated plans serve as guides to subordinates and reduce risk involved in delegation of authority. 52. Briefly explain the importance of ‘planning’. [5 Marks]******* [Important] [80%] (Bhalotia: 9883034569) (RKB) Planning is the process of establishing the goals and objectives of a project and determining the resources and actions needed to achieve those goals. Following are the major advantages of planning: 1. Planning Provides Direction- Planing provides us with direction. How to work in the future includes planing. By stating in advance, how work has to be done, planning provides direction for action. 2. Planning Reduces the Risk of Uncertainties. Uncertainty means any events in the future that change our course of action. Planning helps the manager to face uncertainty. 3. Planning Reduces Overlapping and Wasteful Activity- Overlapping means the working relationship has not been allocated specifically. If we plan, onr time will not be wasted. 4. Planning Promotes Innovative Ideas- If we are planning, then we get feedback fiom your senior ‘managers or juniors, from there you can get innovative ideas, 5, Planning Facilitates Decision- Planning helps in decisi making. With good planning, our decision- making gets accurate, it becomes feasible and it also gets improved. 6. Planning Establishes a Standard for Controlling- Controlling is incomplete without planning and planning is incomplete without controlling. 7. Focuses Attention on Objectives of that Company- Through planning, efforts of all the employees are directed towards the achievement of organizational goals and objectives. — 38 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 53. What are the elements (Components) of planning? [Imp]*** [50%] [BHALOTIA] [9883034569/9330960172] [RKB] ‘The entire process of planning consists of many aspects, These basically include missions, objectives, policies, procedures, programmes, budgets and strategies. 1. Mission ‘This is one of the first components of planning. ‘The mission of an organization basically dictates its fimdamental purposes. It describes what exactly it wants to achieve. The mission may be either written or implicit from the organization’s functioning A mission statement describes who the products and customers of a business are It shows the direction in which the business intends to move and what it aims to achieve 2. Objectives Objectives represent the end results which an organization aims to reach. We can also refer toit as goals ot targets. Not just planning but all factions of business management begin with the setting of objectives. 3. Policies Policies are basically statements of understanding ot couise of action. They guide the decision-making process for all activities of the organization, Consequently, they impose limits on the scope of decisions 4. Procedures Procedures are some of the most important components of planning. They describe the exact manner in which something has to be done. They basically guide actions for activities that managers and employees perform. 5. Budget Budgets are plans that express expected results in numerical terms. Whenever an organization expects to do something, it can make a budget to decide on its target. Most activities, targets, and decisions require budgeting. For example, an income budget shows expected financial results and profits. 6. Programme A prograinme is nothing but the outline ofa broad objective. It contains a series of methods, procedures, and policies that the organization needs to implement. In other words, it includes many other components of planning 7. Strategies A strategy in simple words refers to minute plans of action that aim to achieve specific requirements Proper implementation of strategies leads to the achievement of the requisite goals. The nature of an organization’s values and missions will determine how it will strategize. — 39- Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 54, What are the limitations of Planning: [5 Marks] (Bhalotia) (9883034569) (RKB) [30%] (BHALOTIA) (9883034569) ‘The limitations of Planning are furnished below: (1) Planning Leads to Rigidity (a) The plans are rigid in nature and have to be complied with throughout the organisation. (o) Such rigidity of plans may be internal as well as external. (©) _Intemal rigidity relates to plans, policies, programs, rules, and methods, ete. (@)_ Extemal rigidity relates to political, industrial, technological, legal and economic changes, etc. 2) Planning May Not Work in Dynamic Environment (a) The environment in which a business survives is dynamic as it keeps on changing. () _ Itis difficult for an organisation to access fisture trends, the taste of customers, natural calamity, competitors’ policies and effects of changes in the different components of the environment. (©) The organisation has to constantly adapt itself to changes because it is difficult to forecast the fiture changes with absolute accuracy. (@) The dynamic environment may sometimes lead to failure of plans 3) Planning Reduces Creativity (a) Planning is mostly done by the top management and other members (©) like middle and lower levels of management have to follow these plans. (©) They can’t deviate or change the plans made by their seniors (a) Under such circumstances, employees become orders following machines and don’t invalve creative thinking fiom their side (e) Such rigidity to comply with the laid plans kills the creativity of some talented persons. ‘4) Planning Inyolves Huge Cost (a) Formulation of plans can be too much costly because there is a lot of time and money is involved. (b) Some costs are incidental in nature like- expenses on boardroom meetings, discussions with professional experts and preliminary investigations to find out the feasibility of the plan. (c) Sometimes, cost incurred may not justify the benefits derived from the plans; it may leave a hamful effect on the enterprise. (S) Planning is a Time-consuming Process (@) Planning is a very lengthy process as it consumes a lot of time for collection, analysis, and interpretation of data (@) Due to such a lengthy process, sometimes decisions get delayed, opportunities are lost and there is not much time left for the implementation of plans. — 40 - Admission going on for crash course. One Subject 750, All Subjects: 2500Bhalotia Classes (9883034569) Ist Sem: PPM NEW (Subjective Qns) 6. Lack of Accuracy- In planning, many assumptions are made to decide about the future course of action. Sometimes planning 1s not accurate. Assuming for the future cannot be 100% accurate. 7. External limitations: ‘Natural calamity, Change in competitors” policies, Change in taste/fashion and trend in the market, Change in technologies, Change in govemment/economic policy. iscuss the steps in the planning process. [10 Marks] [Imp]** [60%] (BHALOTIA) (9883034569) Planning Process: 1. Perception of Opportunities: Perception of opportunities is not strictly a part of the planning process. But this awareness of opportunities in the external environment as well as within the organisation is the real starting point for planning. 2. Setting up the Objective. Till the manager does not have an objective, he cannot do the planning, so the goal should always be clear 3. Developing Premises- Premises means making assumptions for the future. The manager can. make the assumption by studying the past decisions, policies, studying the facts, and existing plans 4. Listing the Various Alternatives for Achieving the Objectives. After setting up objectives, the managers make a list of alternatives through which the organization can achieve its objectives 5. Evaluation of Different Alternatives- In this step of the planning process, managers evaluate and closely examine each of the alternative plans 6. Selecting an Alternative. This is the stage of planning in which the manager has to adopt a decision. Here, the manager will choose the best and most feasible plan to implement Implement the Plan. This is the step where other managerial functions are also considered. ‘The step is concerned with putting the plan into action, i¢., doing what is required. 8. Follow Up- To find out whether plans that are formulated are being implemented and activities are performed according to schedule is also part of the planning process = 41 - Admission going on for crash course. One Subject 750, All Subjects: 2500