NATURE AND SIGNIFICANCE OF MANAGEMENT
1 Rama (P) Ltd. uses environment- friendly techniques of production. Name the objective of the Company strives to attain?
Ans: Social Objectives of Management
2 Arrow Ltd.’s target is to produce 20,000 shirts / month at cost of ` 150 per shirt. The Production Manager could achieve this target at a cost of ` 170/ shirt. Do you think the Production Manager is “efficient”? Give reason in support of your answer.
Ans: No, the Production Manager is not “efficient” because he had achieved the target but not in cost effective manner.
3 Your Grand Father has retired as the Director of a manufacturing Company. At which Level of Management was he working? Different type of Functions are performed at this level. Sate any one Function?
Ans: (i) Top Level Management (ii) Determining Objectives.
4 Mr. Kumar, who is an M.B.A, has been appointed at the Post of General Manager in ABC Ltd Company. Just after his appointment he took a decision to set up a Chemical Plant near a residential colony. (The chosen location to set up the plant was favourable for many reasons to the Company). After some time, another important decision to the amount of charity been given annually to educational institutions and religious institutions was withdrawn giving the justification that it was an unnecessary burden on the Company. More emphasis was given to the share of the Company in the market and in search of modern procedures. Apart from this, a long time labor dispute was resolved by taking a balanced decision.
(i) Tell whether Mr. Kumar is at fault?
(ii) If yes, the fault is in which context?
(iii) How can the mistake be amended?
Ans:
(i)Yes. Mr. Kumar is at fault. He is avoiding the Social objectives of the management. There is a need of rethinking on two issues.
(ii) Establishing a Chemical Plant near a residential colony and,
(iii) Giving Charity
5 Ms. Bharti passed her M.B.B.S examination in the first division in 2011. Later on, the year 2014 she passed her M.S examination as an eye surgeon. She was awarded a gold medal in this examination. After completing her studies, she joined a big hospital as an eye surgeon. She is performing ten operations successfully every day. Now tell, what aspect of Ms. Bharti’s above experience is science and what aspect is art.
Ans: As we know that to get information about a subject is science and putting that information to practice is an art, so in the present case, it can be said that the study of M.B.B.S and M.S. is science and working as an eye- surgeon is an art.
6 Your Friend is working as a “worker” in a company. At what level of Organization is he “working”? What is the name of place / area where he is working?
Ans: He is working at the non-managerial level of Organization. He can’t be the part of any managerial level as he is not a Manager. The Manager is a person who has subordinates and there is no subordinate of him. Hence, he is known as non-managerial member. Platform Area is name of the place where he is working.
7 You have three brothers. They are working in three different MNC’s as General Manager, Supervisor and Deputy Personnel Manager. What functions of Management do you think they are performing in their Companies? Are they performing the same functions of Management? If yes, how?
Ans: All the three brothers of mine are working on three different levels of Management, Such as Top, Middle and Lower level Management. They are performing the same functions of management such as, Planning, Organizing, Staffing, Directing and Controlling. It means all the functions of Management are performed at all the three levels of Management. But there is only a difference of degree. For Example, Planning is considered as the most important function at the top while at the lower level directing is all important.
8 Mr. Raman is working as “Plant Superintendent” in A.B.C Ltd Company. Name the Managerial Level at which he is working? State any four functions he will perform as “Plant Superintendent” in this company?
Ans: He is working at Middle Level Management. His functions are as follows;
i) Interpreting Policies: At this Level, policies framed by Top level managers are interpreted. Like the Marketing Manager introduces his salesman to the sales policy of the company that at no cost credit sales will be made.
ii) Preparing Organizational Set-up: Every Middle Level manager prepares outline of his respective department in accordance with the objectives of the Organization.
iii)Appointing Employees: Every departmental Manager appoints employees to fulfill the activities of his department.
iv) Issuing Instructions: Departmental Managers direct their subordinates about what to do and how they have to do. Needful resources are made available to subordinates so that they can do the assigned jobs intermittently.
9 Mega Ltd. was manufacturing water-heaters. In the first year of its operations, the revenue earned by the company was just sufficient to meet its costs. To increase the revenue, the company analyzed the reasons of less revenues. After analysis the company decided.
1.To reduce the labour cost by shifting the manufacturing unit to a backward area where labour was available at a very low rate.
2. To start manufacturing solar water-heaters and reduce the production of electric waterheaters slowly. This will not only help in covering the risks, but also help in meeting other objectives too.
a. Identify and explain the objectives of management discussed above.
b. State any two values which the company wanted to communicate to the society.
Ans. a. The objectives of management referred to are:
i Organisational Objectives: It refers to the utilization of human and material resources considering the interest of all share holders.
Ii Social Objectives: It refers to the consideration of the interest of the society during managerial activities.
b.Values
i Providing employment opportunities
ii Development of backward regions.
10 XYZ Power Ltd. set up a factory for manufacturing solar lanterns in a remote village as there was no reliable supply of electricity in rural areas. The revenue earned by the company was sufficient day by day, so the company decided to increase production to generate higher sales. For this they decided to employ people from the nearby villages as very few job opportunities were available in that area. The company also decided to open schools and crèches for the children of its employees.
a. Identify and explain the objective of management discussed above.
b. State any two values which the company wanted to communicate to the society.
Ans.
The objectives of management referred to are:
a. The objectives of management referred to are:
i. Organisational Objectives: It refers to the utilization of human and material resources considering the interest of all share holders.
ii. Social Objectives: It refers to the consideration of the interest of the society during managerial activities.
b.Values
i Providing employment opportunities
ii Development of backward regions.
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