Namchi Designer Candles: A Success Story of Women Entrepreneurship

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10 Questions

What is the main purpose of Smita's planning during Diwali?

To meet the increased demand for candles

What is the common goal of all organisations mentioned in the text?

To achieve their diverse goals

What is the main function of Smita's work as a manager?

To achieve the goals of the organisation

What is the significance of Namchi Designer Candles during Diwali?

Its demand increases on a yearly basis

What is the common characteristic of Namchi Designer Candles and other organisations mentioned in the text?

They all have management and managers

What is the ultimate goal of management in an organisation?

To guide individual efforts towards a common objective

What is the primary reason why management is necessary in an organisation?

To make sure that individuals make their best contribution towards group objectives

What is the definition of management given in the text?

A process of getting things done with the aim of achieving goals effectively and efficiently

What is the difference between the time spent by managers at top and lower levels in the organisation?

Managers at top level spend more time in planning and organising, while managers at lower levels spend more time in coordinating

What is the significance of management in achieving organisational goals?

It helps to achieve goals effectively and efficiently

Study Notes

Management and Its Importance

  • Management is a deliberate process that helps organisations achieve their goals, and it is essential for all types of organisations, regardless of size or purpose.
  • The main objective of management is to guide the efforts of individuals towards achieving a common goal.

Functions of Management

  • Management consists of a series of interrelated functions, including planning, organising, and communicating.
  • These functions are performed by all managers, but the time spent on each function varies depending on the level of management.
  • Top-level managers spend more time on planning and organising, while lower-level managers focus on other functions.

Definition of Management

  • Management is a process of getting things done to achieve goals effectively and efficiently.
  • Effectiveness refers to achieving goals, while efficiency refers to using the least amount of resources at a minimum cost.

Example of Management in Practice

  • Smita, the owner of Namchi Designer Candles, is a manager who performs various functions, including planning, organising, and communicating, to achieve the goals of her organisation.
  • Her daily activities include planning for special occasions, recruiting workers, communicating with suppliers, and meeting customers to gather feedback.

Management in Different Organisations

  • Management is a common thread that runs through all organisations, including schools, hospitals, shops, and large corporations.
  • Despite their differences, all organisations have management and managers working to achieve their goals.

Learn about the inspiring story of Namchi Designer Candles, a company that employs 100% women and produces unique candles, including Diwali-themed ones. Discover their success and achievements in Sikkim and beyond.

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