Principles of Management 633

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Principles of Management 2 Mark Questions1. Definition 0f management? Management is the art and science of getting work done through people. It is the process of giving direction and controlling of various activities of people to achieve the objectives of organization. KOONTZ & WEIHRICH Management is the process of designing and maintaining of an environment in which individuals working together in groups effectively accomplish selected aims. F.W.TAYLOR Management is the art of knowing what do you want to do and then seeing that is done in the best cheapest way. 2. Skills needed for managers: Technical skill 1. It refers to the ability to the tools, equipment procedure and techniques. 2. Effective supervision and co-ordination of the work a group members or subordinates. Human skill 1. It refers to the ability of the manager to work effectively as a group members and to build co-operative effort in team leaders. 2. Needed to understand people. Conceptual skill 1. It is also called as design and problem 2. To see the organization and the various component of it as whole 3. To understand how its various parts and functions mesh together 3. Different approaches of management 1. System approach 2. Contingency approach

System approach Introduction Like a human organism an organization in a system. In an organization also people task and management are independent. System concepts System theory was first applied in field of science and engineering. Contingency approach The Contingency approach is called as situational approach. It is developed by managers, consultant and researchers who tried to apply for real life situation. Some management concepts are different and are very effectively in one situation. The same concept is failed in another situation. Results or solutions differ because situations differ. In this approach the managers identify which is suitable technique for a particular solution. Particular environment of the organization at a specific time. 4. Comparison between art and science. Science: It is a systematic body of knowledge with array of principles. Art: 1. It is the application of skill in finding desired results. 2. Management is both science and art: 3. It contains general principle 4. It also an art because it require certain personal skills to achieve desired result. 5. Functions of management 1. Planning 2. Organizing 3. Staffing 4. Co ordinating 5. Controlling

6. Management level and functions. 1. Top-level management 2. Middle level management 3. Lower level management Top level management functions 1. To formulate goals and policies 2. To formulate budgets 3. To appoint top executives Middle level management functions. 1. To train motives &develop supervisory level 2. To monitor and control the operations performance Low level management 1. To train &develop workers 2. To assign job 3. To give orders and instructions 4. To report the information about the workers 7. What to you mean by social responsibility& social responsiveness. Corporate social responsibility is seriously considering the impact of the companys action on society. Social responsiveness means the ability of a corporation to relate its operations & policies to the social environment in ways that are mutually beneficial to the company and to society. 8. What is institutionalizing ethics& how it can be accomplished? Institutionalizing ethics means applying & integrating ethical concepts in to daily actions. This can be accomplished in three ways. 1. By establishing appropriate company policy or a code of ethics 2. By using a formally appointed ethics committee 3. By teaching ethics in management development programs

9. What is ethics? What are the types of ethics explain? Ethics is defined as the discipline dealing with what is good & bad and with moral duty & obligation. The three types of ethics are. Personal ethics: The rules by which an individual lives his or her personal life. Accounting ethics: The code that guides the professional conduct of accountants. Business ethics: Concerned with truth& justice & has a variety of aspects such as expectations of society. Fair competition, advertising, public relations, social responsibility, consumer autonomy & co-operate behavior. 10. What are the arguments against the social involvement of business? 1. Social involvement may reduce economic efficiency. 2. Social involvement would create excessive costs for business, which cannot commit its resources for social action. 3. Social involvement can weaken the international balance of payment. 4. it may leads to the hike in prices of the commodities 5. Incomplete support for involvement in social action &&disagreement among groups will cause friction. 6. There is a link of accountability of business to society. 11. What is tows metrics? The tows metrics is a conceptual frame work for a systematic analysis, which facilitates matching the external threats and opportunities with the internal weakness & strength of the organization. In the tows metrics T stands for threats stands for opportunities W for weakness and S for strength.

12. Defining planning premises? Planning premises are defined as the anticipated environment in which plans are expected to operate. They include assumptions or forecasts of the future & known conditions that will effects the operation of plans. 13. List out the social responsibilities of managers? Responsibilities towards share holders. Responsibilities towards employees creditors government suppliers.

competitors general public

14. What is social audit? Social audit involves a commitment to systematic assessment of the companys main activities that have a social impact reporting to the society on relevant issues. Every voluntary social program ends with a social audit social encompasses every possible area, such as pollution control, training & development promotion of minorities & so on. 15. Define code of ethics? A code is a statement of policies, principles or rules that guide behaviors codes of ethics should guide the behavior of persons in all organizations & in every day of life. 16. List out the functions of ethics committee 1. Holding regular meeting to discuss ethical issues. 2. Dealing with gray areas 3. Communicating the code to all members of organization. 4. Checking for possible violations of the code 5. Enforcing the code.

17 what is planning? Planning is a process of selecting the objectives & determining the course of action required to achieve these objectives. 18. Important observations subjected about planning? 1. Planning is obtaining a future course of action in order to achieve an objective. 2. Planning is looking ahead. 3. Planning is getting ready to do something tomorrow. 4. Plan is a trap laid down to capture the future. 19. Define mission? Mission may be defines as a statement which defines the role that an organization plays in the society. 20. Define policies? Policies are general statement or understanding which provides guidance in decisions making to various managers. 21. Explain in brief about the two approaches in which the hierarchy of objectives can be explained? There are two approaches in which the hierarchy can be explained. 1. top-down approach 2. bottom-up approach in the top-down approach, the total organization is directed through corporate objective provided by the top-level management. In the bottom up approach, the top level management needs to have information from lower level in the form of objectives. 22. Advantages of objectives: 1. Unified planning 2. Defining an organization 3. Direction

4. Individual motivation 5. Basis for decentralization 6. Basis for control 7. Co-ordination 23. Steps involved in MBO process: 1. setting preliminary objectives 2. fixing key result areas 3. setting subordinates objectives 4. matching resources with objectives 5. recycling objectives 6. Periodic resources with objectives. 7. Appraisal 24. features of MBO: 1. MBO tries to combine the long range goals of organization with short range of organization. 2. MBO involves participation of subordinate managers in the goal setting process. 3. MBO increase the organization capability of achieving goals. 4. MBOS emphasis is not only on goals but also on effective performance. 25. Definitions of MBO: According to GEORGE ODIORNE,MBO is a process where by the superior and the subordinates managers of an enterprise jointly identify its common goals, define each individuals major areas of responsibility in terms of results expected of him, and use these measures as guides for operating the unit and assessing the contribution of each of its members. KOONTZ &WEIHRICH have defines MBO as follows: MBO is comprehensive managerial system that integrates many key managerial activities in a systematic manner & that is consciously directed towards the effective and efficient achievement of organizational and individual objectives.

26. Define strategy? A strategy may be defined as special type of plan prepared for meeting the challenges posted by the activities o competitors and other environment forces. 27. Steps involved in strategic planning: 1. Mission and objectives. 2. Environmental analysis 3. Corporate analysis 4. Identification of alternatives. 5. Strategic decision making 6. Implementations review & control. 28. State the characteristic of a sound policy? 1. Relationship to organizational objectives. 2. Clarity of policy 3. A policy is a guide to thinking in decision making 4. Policies should be written 5. Communication of policies 6. Balance of policies. 7. Planned formulation. 29. List out the steps involved in formulation of policies: 1. Defining the policy area 2. Defining of policy alternatives. 3. Evaluation of policy alternatives. 4. Choice of policy 5. Communication of policy 6. Implementation