Notesale: Turn your study into money

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Q
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Management in all business areas and
organizational activities are the acts of getting people together to accomplish desired goals and
objectives efficiently and effectively
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The art of planning, co-coordinating, & controlling on industrial activity is called ​industrial
management
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James Lundy says, ‘’Management is principally a task of planning, co-coordinating,
motivating & controlling the efforts of others towards a specific objective
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’’
·
H
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’’
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According to Scanlan & kinz, “Management is the coordination & integration of all
resources, both human & technical to accomplish various specific results
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”
So it is clear that management comprises, planning, organizing, staffing, leading or directing,
and controlling an organization effort for the purpose of accomplishing a goal
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Q
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ANS:
THE OBJECTIVES (GOALS) OF MANAGEMENT
Management is a social process
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The objectives of management are given below:
1
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​Survival & growth:

The main objective of management is to secure maximum outputs with minimum efforts &
resources
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This combination
results in reduction of various costs
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Because, business world too much dynamic
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Pitter F
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”
3
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4
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This in turn helps in
providing maximum benefits to the employee in the shape of good working condition, suitable
wage system, incentive plans on the one hand & higher profits to the employer on the other
hand
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​Human betterment & social justice:

Management serves as a tool for the upliftment as well as betterment of the society
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It provides justice through its uniform policies
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Development of material resources
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Creating vast market & ensuring mass production
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Supply of quality goods at a competitive price
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Development of product line
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Ensuring maximum customer services
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Creating production oriented working environment
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Development of labor-management relationship
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WHAT ARE THE MAJOR ACTIVITIES (FUNCTIONS) OF MANAGEMENT?
ANS:
MAJOR ACTIVITIES (FUNCTIONS) OF MANAGEMENT :
Management operates through various functions, often classified as
1
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organizing,

3
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Controlling/monitoring
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) and generating plans for action
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”
Organizing: Prof
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”(Implementation)

●

●

●
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making optimum use of the resources required to enable the successful carrying out of
plans
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M
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Job analyzing, recruitment, and hiring individuals
for appropriate jobs
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L
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”Determining what needs
to be done in a situation and getting people to do it
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Motivation : M
​
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Motivation is also a kind of basic function of management, because
without motivation, employees cannot work effectively
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Q: WHAT IS MOTIVATION?
ANS:
MOTIVATION:
The word Motivation originated from “Motive” which means want, need, impulse or drive
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”
They want impulse or drive finds expression through motive
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It is
motive which prompts a person to action
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Motivation is the key to work performance
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Motivation is said to be ​intrinsic or
extrinsic​
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This article refers to human motivation
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Conceptually, motivation
should not be confused with either ​volition or ​optimism​
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Motivation determines the human behavior
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Various definitions of motivation are given below:
·
George R Terry defined motivation as,” the desire within an individual that stimulates him
or her to action”
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Dotton E
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”
·
Michal J
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”

·
Edwin B
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”
·
M
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Gannon says, “Motivation basically means an individual’s needs, desires, & concepts
that cause him or her to act in a particular manner
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Gibson says, “Motivation may be defined as the state of individual’s perspective
which represents the strength of his or her propensity to exert effort toward some particular
behavior
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”

Q: EXPLAIN DIFFERENT MOTIVATING FACTORS USED IN MANAGEMENT PROCESS
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This is possible if the intensity to work willingly of a person is increased, people are
to be motivated
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e
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:
1
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Non-financial means of motivation
These are explained below:
1
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The workers will interest on their job only when they get their desired facilities
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When they become financially solvent, they perform their
work more actively
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The elements of this motivation are given below:
1
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Profit sharing
3
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Financial security
5
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Accommodation facilities
7
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Medicare facilities
9
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Rewards
11
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Canteen facilities

1) ​Fair wages:
Fair wages is an effective instrument in the hands of a manager for inspiring people at work
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2) ​Profit sharing:
Generally owner is the main obtained of the profit
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Thus a company may develop
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Usually,
during special occasions bonus is given through the workers & subordinates
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So they can actively perform their work
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4) ​Financial security:
Every worker has a desire to future financial security
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5) ​ Advance:
At present in our country many company gives advance to the worker or subordinates from their
provident fund against their raw wages
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This also inflamed them to work properly
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If a worker has no good
accommodation facilities he or she cannot give concentration to his/her work
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If it is not possible to manage
accommodation facilities for the workers an allowance should be managed for them
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So the managers have a responsibility to manage
the transportation facilities for the workers & subordinates
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For this reason they awakened to work
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It will reduce misunderstanding & build up good human relations
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If the workers are motivated internally they
present a good job
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Thus a
company may failure to earn profit
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9) ​Promotion:
Promotion is concerned with a question of rising financial convenience
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So efficient employee should be promoted & suitably rewarded
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The employees perform their work
properly
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11 ​Rationing facilities:
The rationing facilities at a very lower cost incite the employees to work
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12 ​Canteen facilities:
By working a long time workers become tired
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But
time value of a company is most important
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By
taking this process time is properly utilized abreast of recreation of the employees
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The
elements of this motivation are given below:
1
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Security
3
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Personal power & rights
5
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Appreciation of worthwhile work
7
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Democratic management
9
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10
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Granting union right
12
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Creating education facilities
14
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The working place
should have well ventilation, net & clean, sufficient healthy latrines, canteen facilities, restroom,
etc
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2) ​Security:
Job security should be ensured to the employees
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It
may not be benedictory for a company
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So the work must be
attractive for them
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They want to
get personal power & rights beside with fundamental rights at their job sectors
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5) ​Fair treatment:
Proper & fair treatment is given to the employee
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6) ​Appreciation of worthwhile work:
Human loves to hear the appreciation of worthwhile work & impressed by it
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7) ​Training facilities:
Proper & adequate training to the employee is to be provided
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It is benedictory for the development of any company
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Before taking a serious decision their opinion are considered
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They develop a sense of belonging
to the organization leading to high morale
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So it is necessary to establish
equity among them
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By this union they can express their
opinions
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13)
​Creating education facilities:
Employees work at industry whole day
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They cannot
educate their child
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For this reason the company
should have to create education facilities to their children
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14)
​ Other motivational arrangements:
Other motivational arrangements include:
·
Sports facilities for the workers
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·
Arranging picnic
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·
Proper division of work
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·
Proper management also plays a great role in boosting up morale of the workers
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·
The management should make necessary effort to find out reasons for employees
dissatisfaction if any prevailing among them
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To get all these necessities one
has to possess money
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Money is an indispensable
thing like oxygen for survival which can buy anything to everything in this world
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Money makes the world go round, and nowhere is this
truer than in the workplace
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This is the sole reason why money attracts people, exhibiting its
novel character of being a great motivator at work places
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There are some circumstances where money is the best recognition for extra work, there are
other times it is inappropriate
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People are motivated by
money the most, and cash is a fair and effective way for management to show appreciation to
hardworking staff
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But, in the same time this is demeaning, trivializing, and bad for morale
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Some employees have financial goals, others have professional goals, and
others have personal goals
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Since every
person is motivated by something different, money may not work for every employee
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These people do not often need rewards or
encouragement to keep them motivated to complete or finish a task
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Others are extrinsically motivated, or need outside forces to keep them interested in
completing a chore or tasks
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For these above reason money is considered as a powerful motivator
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ANS:
PLANNING:
Planning is the first function of management
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It involves setting
of goals, objectives and deciding the line of actions
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Planning helps manager to look into future
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It is thinking before doing
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Definitions from the scholars are below​:
·
George R
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·
Koonts O’Donnell:- “Planning is an intellectually demanding process; it requires the
conscious determination of courses of action and the basing of decision on purposes,
knowledge and considered estimates”
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E
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It involves the
selection of objectives, policies, procedures and programmers from among alternatives”
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·
W
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Newman and Charles E
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:- “The process of planning covers a wide
range of activities, all the way from initially sensing that some thing needs doing to firmly
deciding who does what when……… It is a combination of all these that culminates in a
decision about what should be done
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Planning is a
thinking process which is needed for Future
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It is
necessary function at all management levels, top, middle and lower
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(1) ​Planning is a continuous process:- Planning determines the objectives which is to
be accomplished in future
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Plan is an instrument to attain the predefined goal in future
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This change demands changes in the plan to meet the future
requirements
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(2)
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It is goal oriented
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It prepares a blue print for attaining
objectives of the enterprise
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Planning is all pervasive:- Planning concerns all managers
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The top management concerns with strategic planning, middle management
looks after administrative planning and lower level management deals with operative planning
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​Planning is the primary function:- Planning is the first function of management
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Other managerial functions are designed to support the
attainment of objectives of the enterprise
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Thus all other managerial functions are to be planned to make them effective
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​Planning facilitates efficiency:- Planning brings about efficiency in operations
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(6)
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Process of planning is accommodative
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​Planning helps in coordination:​ - Planning attains the coordination between different
departments of the organization
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Coordination is the essence of management
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​Planning has certain limitations:- Planning has certain limiting factors such as money, men,
machinery materials
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Q:​ ​WHAT ARE THE CHARECTERESTICS OF A GOOD PLAN?
ANS:
THE CHARECTERESTICS OF A GOOD PLAN”
Characteristics of a good plan are given below
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§ It should provide necessary guidelines and standard of performance
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It should be accommodative
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§ It should be realistic, possible and reasonable
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e
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§ It should usher prosperity and growth of the enterprise
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EXPLAIN DIFFERENT TYPES OF PLANNING
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The planning
process involved various steps which are discussed as below:
[#] Clarifying the problem: The first step in the process of planning is to define the problem
clearly and precisely for which the plan is to be formulated
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[#] Securing complete information and making analysis: Sufficient information is required to
decide the action to be taken
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Several factors govern the activities to be planned
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External factors include political and socio-economic conditions, fiscal policy of the
govt
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Internal factors are including resources, men, machines, technical
knowhow, policies, strategies, budgets etc
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[#] Ascertaining planning premises and constraints: After making the analysis of information
collected certain assumptions are to be made regarding future
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Existence of govt
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In the light of
these assumptions and limitations alternative plans are to be determined
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All these alternatives should be found out and are evaluated in the right of the
organizations requirements
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The operations research
has provided various methods to evaluate different alternatives
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If it is found that more than one alternative are equally good and viable then manager
may prefer their combination in executing a plan
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This helps in maintaining the continuity of operation
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These plans play a supportive role
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It is therefore necessary to
provide for follow up to see whether everything is going according to plans
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e
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Q
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ANS:
Advantages of planning are given below​:Ø The achievement of goals or objectives of the enterprise become easier because planning
enables the direction of efforts towards predetermined objectives
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Ø Planning enables the enterprise to make sufficient adjustment to adapt to future changes
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All the activities can be coordinated in a
systematic way to achieve the goals of the business enterprise
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Planning helps management to adopt
modern methods of operation and to improve the quality of product to attract the customer
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Ø Planning provides sufficient insight to the managers to avoid mistakes
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Planning determines the times for starting and
completing the projects, set standards of performance
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Budget is one of the effecting controlling tools in the hands of manager
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Coordination is the
essence of management
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Ø Planning facilitates through examination of alternatives
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Question: DEFINE DECISION MAKING & EXPLAIN DIFFERENT STAGES IN DECISION
MAKING
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Decision making is the principal
responsibility of a manager
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One decision is followed by a series of decisions
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Problem solving refers to finding and implementing a course of action
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This makes the manager’s job challenging

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