GNG 2.0 Chapter 1 Management Notes - RAJAT ARORA SIR - PDF

GNG 2.0 By RAJAT ARORA SIR Ch- 1 Nature and Significance of Management DAY -1 GNG 2.O By Rajat Arora Sir KEY WORDS FOR THE CHAPTER 1) Management 2) Efficiency 3) Effectiveness 4) Process 5) Pervasive, conti...

GNG 2.0 By RAJAT ARORA SIR Ch- 1 Nature and Significance of Management DAY -1 GNG 2.O By Rajat Arora Sir KEY WORDS FOR THE CHAPTER 1) Management 2) Efficiency 3) Effectiveness 4) Process 5) Pervasive, continuous and dynamic function 6) Intangible force 7) Coordination and its importance 8) Levels of management – top, middle, and lower 9) Nature of management – As an art, as a profession and as a science 10) Objectives of management MNEOMICS FOR MANAGEMENT 1. CHARACTERISITCS OF MANAGEMENT Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR M - multidimensional P - pervasive C - continuous G – goal oriented process D – dynamic function I – intangible force G – group activity GNG 2.O By Rajat Arora Sir 2. MANAGEMENT AS AN ART T – Theoretical knowledge PA – Personalised application PC – Practice and creativity 3. MANAGEMENT AS A SCIENCE S – Sysmematic body of knowledge O – Developed through observation E – Based on experimentation 4. LEVELS OF MANAGEMENT T - Top level M – Middle level O – Operational level 5. CHARACTERISTICS OF COORDINATION P – Pervasive R – Responsibility of all managers I – Integrates group efforts C – Continous E – Ensures unity of Action D – Deliberate function 6. IMPORTANCE OF COORDINATION G – Growth in size F – Functional differentiation S – Specialisation IMPORTANT QUESTIONS – Q 1. Which function of management ensures work accomplishment as per plan? a) Planning Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR b) Directing c) Controlling d) Organising Q 2. All the businessmen prefer their children to do MBA and then join business. This is related to a) Management as Science b) Management as an Art c) Management as a profession d) Management as both Science and Art Q 3. It involves leading, influencing and motivating the employees to perform the assigned task". Which function of management is highlighted in the above statement? a) Staffing b) Planning c) Directing d) Controlling Q 4. "What distinguishes a successful manager from a less successful one is the ability to put the principles into practice." Which aspect of the nature of management is highlighted in the above statement? a) Management as a science b) Management as an art c) Management as a profession d) Management is an intangible force Q 5. Identify the dimension of the characteristic of management- "it is multidimensional", which specifies that the task of management is to make the strengths of human resources effective and their weaknesses irrelevant towards achieving the organisation's objectives. a) Management of work b) Management of people c) Management of operations d) Management of goals Q 6. "A manager in a conscious manner has to ensure that even where members of a department willingly cooperate, coordination gives direction to the willing spirit" The characteristic of coordination being highlighted above is: a) Coordination is the responsibility of all managers b) Coordination is a deliberate function c) Coordination integrates group efforts d) Coordination is a continuous process Q 7. The production department at Karishmaa Ltd, a firm manufacturing readymade garments for men has an objective to increase production by 10% but the Sales department Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR does not approve of the increase in production, till changes are brought about in the product to incorporate latest fashion. These kinds of conflicts bring to light the following importance of the force that can help to accomplish the linking of activities of various departments: a) Growth in size b) Functional differentiation. c) Specialization d) Efficiency Q 8. Silico Ltd. has appointed the former Consulting executive of Shri Shakti Ltd. Rajan Bahl as its Vice President. What will be his basic task? a) To integrate diverse elements and coordinate activities of different departments. b) To carry out plans formulated by top managers. c) To oversee the efforts of the workforce. d) Help to maintain quality of output Q 9. Unlike professions such as medicine or law which require a practising doctor or lawyer to possess valid degrees, nowhere in the world is it mandatory for a manager to possess any such professional degree. Identify the characteristic of the profession being discussed above which is not being strictly met by management. a) Well defined body of knowledge b) Restricted Entry c) Professional Association d) Ethical code of conduct Q 10. KTX Group is rolling out an initiative to help create wealth for its employees through the implementation of Employee Stock option. Through motivation and leadership the management will help individuals to develop team spirit, cooperation and commitment to the success of the group. The following importance of management is highlighted above: a) Management helps in achieving personal objectives b) Management helps in the development of society c) Management creates a dynamic organisation d) Management increases efficiency Q 11. "Management is what management does". Which feature is referred from the above statement? a) Intangible force b) Goal oriented c) Futuristic d) Continuous Q 12. Ram Murty, a Professor of Management conducted a class on 'Management principles and explained to his students the significance of management Principles. In the next class, Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR the Professor asked his students to play roles of different managers. He gave them various situations and asked them to think ke managers and previde solutions to the problems given in these situations, Each student applied the principles of management to the given situation in his own personalized. The nature of management highlighted in the above case is: a) Management as a Science b) Management as an Art c) Management both as an Art and as a Science d) Management as a Profession Q 13. Success of dubbawala (who carry tiffins to offices) of Mumbal is example of which aspect of management? Explain the importance of that aspect. Q 14. "Management is the life giving element in every business, without it the resources of production remain resources and shall never become production." Comment. Q 15. ABC Ltd. is facing a lot of problems these days. The company's profit margin is declining day by day. The production manager is blaming marketing management whereas marketing is blaming production department for not maintaining the quality. Finance department is blaming both. What quality of manager do you think is lacking? Explain it briefly. Q 16. 'Sonu Nigam' the famous playback singer always spends time for practice and adds his creativity in his singing. Like Sonu Nigam, Rajiv, manager of Headlines Ltd. uses his creativity and practises management principles under different situations to manage the business. The employees are happy and satisfied as he every day reward employees for their punctuality and efficiency. (a) Identify the nature of management highlighted above. (b) Name other two aspects of nature of management. GNG 2.O RAJAT ARORA SIR Q 17. In an organisation sales department wants to increase the sale by 20% so sales department planned to offer extra discounts to customers. Finance department raised objection on it as they say it will result in loss of revenue and company may face liquidity problem. 1) Name the importance of coordination referred here. 2) State other two importance of coordination. Q18. Management is critical ingredient of a nation's growth. Comment. Q 19. Coordination is needed at all the levels of management. Explain this statement. Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR Q 20. What aspect of the profession is exemplified in the scenario where Avesha needs to reg herself as a member of ICAI to become a Chartered Accountant? a) Service motive b) Restricted entry c) Professional association d) Ethical code of conduct Q 21. Identify the reason which makes management important in the light of the fact that it is generally seen that individuals in an organisation resist change, as a change often mes moving from a familiar, secure environment into a newer and a more challenging one a) Management helps in achieving group goals b) Management creates a dynamic organisation c) Management increases efficiency d) Management helps in the development of society DeeCee GNG 2.0 RAJAT ARORA SIR Q 22. Identify the point of significance of management illustrated in the picture. a) Management helps in achieving group goals b) Management helps in achieving personal objectives c) Management helps in development of society d) Management increases efficiency Q 23. Suresh works as a manager in QC Ltd. He follows a process which provides the perquisite amount, quality, timing and sequence of efforts and ensures that planned objectives are achieved with a minimum of conflict. Identify the function of management. a) Coordination b) Management c) Cooperation d) None of these Q 24. Management is the process of getting things done.' State the meaning of the term 'process' used in this statement. Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR Q 25. Art is concerned with personal application of knowledge.' In the light of this statement compare all the features of management with art and prove that it is an art. Q 26. Explain the features of management that do not establish it as a profession. Q 27. Rishitosh Mukherjee has recently joined AMV Ltd., A company manufacturing refrigerators. He found that his department was under-staffed and other departments were not cooperating with his department for smooth functioning of the organisation. Therefore, he ensured that his department has the required number of employees and its cooperation with other departments is improved. a) Identify the level at which Rishitosh Mukerjee was working. b) Also, state three more functions required to be performed by Rishitosh Mukherjee at this level. Q 28. Discuss the importance of coordination. OR Explain any three points that highlight the importance of 'Co-ordination'. Q 29. Top management plans for the entire organisation. According to these plans the organisational structure is developed and staffed. In order to ensure that these plans are executed according to plans, directing is required. Any discrepancies between actual and realized activities are then taken care of at the stage of controlling. Name and explain the process highlighted above which started at the planning stage itself and is implicit and inherent in all the functions of management in an organisation. Q 30. Dharam is a well-known businessman in the field of publishing. He owes the success of his business to his own education in business management and his team of certified management consultants. Therefore, he decides to send both his children Danush and Damini abroad to pire a degree in business management in their individual area of expertise. He feels that all over the world there is marked growth in management as a discipline, but still it is not considered to be a full-fledged profession for certain reasons. In context of the above case: a) Explain the reasons because of which Dharam considers management as a discipline. b) Critically examine the various reasons because of which management is not considered to be a full-fledged profession. Q 31. Kartik joins a garment factory as a plant supervisor in Lucknow. He observes that the output of some workers isvery low as compared to the standards set for their performance. On analyzing the reasons for the same, he finds out that a lot of time of the workers is wasted in getting the requisite materials issued form the store. Whereas on asking, the store keeper complains that there is no harmony in the working of the production department as a whole. Every day the workers approach him at the least minute to procure different kinds of threads, laces, mirrors, buttons etc. if it is not available in the store then he has to place an order with the purchase officer. As a result, Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR a lot of time of the workers is wasted. So, in order to integrate the various production activities, henceforth, Kartik ensures that the store keeper is informed well three days in advance about the requisite materials. Consequently, the store keeper is able to keep the materials ready for the workers every morning in accordance with their requirements. GNG 2.O Rajat Arora Sir In context of the above case:- a) Identify and explain the quality of management that Kartik has introduced in the working of the production department as a corrective measure to control the output of the workers. b) State briefly and two points highlighting the importance of quality of management identified in part (a) Q 32. Ajay and Sanjay are childhood friends. Sanjay had lost his right hand in an accident in childhood. They meet after a long time in a restaurant. On being asked, Sanjay tells Ajay that he feels very discontented in managing his family business after the death of his father as it doesn't match with his areas of interest. Ajay knows that Sanjay possess extraordinary skills in management although he hasn't acquired any professional degree in management. Therefore, he asks Sanjay to wind up his business in India and join him in his hotel business in Dubai as an Assistant Manager in Sales and Marketing Division. In context of the above case: Can Sanjay be deployed at the post of Assistant Manager in Sales and Marketing Division though he hasn't acquired any professional degree in management? Explain by giving suitable justifications in support of your answer. GNG 2.0 RAJAT ARORA SIR Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR Answer Key Ans 1. c) Controlling Ans 2. c) Management as a profession Ans 3. c) Directing Ans 4. b) Management as an art Ans 5. b) Management of people Ans 6. b) Coordination is a deliberate function Ans 7. b) Functional differentiation Ans 8. a) To integrate diverse elements and coordinate activities of different departments. Ans 9. b) Restricted Entry Ans 10. a) Management helps in achieving personal objectives Ans 11. a) Intangible force Ans 12. b) Management as an Art Ans 13. Coordination. For importance of coordination, (Explain) Ans 14. Yes, it is right to say that management is life giving element because of following importances: Importance of management (Explain) Ans 15. The quality which is lacking in the above case is "coordination." The manager is able to execute all the functions but he is unable to coordinate these functions and coordination is not a mere function of manager but it is the essence of management. Coordination an essence of management (Explain) Ans 16. (a) Nature of management highlighted above is "Management as an Art" (b) The other two aspects of nature of management are: 1) Management as Science 2) Management as Profession Ans 17. 1) "Functional differentiation" 2) Other two importance: (a) Size Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR (b) Specialisation Ans 18. Management fills up various positions with right persons, having right skill, training and qualification. Management can be defined as a process of getting things done with the aim of achieving goals effectively and efficiently. In absence of management no organization can run successfully. Ans 19. Coordination is required in all group efforts in every organisation at all levels of management. It is not the responsibility of top management only. Managers at all levels are responsible for achieving coordinated efforts in their respective departments or units.The need of coordination at various levels of management may be described as follows: i ) At the top level management It has to take care that there is coordination between organisational goals and the goals of the units and sub-units formed for achieving these goals. ii) At the middle level management That is the departmental managers who have to coordinate their departmental plans with the plans of other departments. This level links the top level management with the lower level management and coordinates between them by transmission of orders downward and problems and feedback reports upward. iii) At the lower level management Coordination is required between the actual operations with the plans made and reconcile the view of management and workers. Ans 20. c) Professional association Ans 21. b) Management creates a dynamic organisation Ans 22. a) Management helps in achieving group goals As the image suggests, there is diversity in the group in term of gender, occupation, and functions. Despite the diversity, the people in the image work efficiently towards a common goal and together become the best company of the year. Ans 23. a) Coordination To implement planning in the prescribed and smooth manner, proper co-ordination between activities is essential. Co-ordination starts from the very first stage of management function i.e., planning and goes systematically with all functions. Proper co-ordination reduces conflicts between activities as well as personnel Ans 24. Process in this statement refers to the series of functions or activities that management performs to get things done. These are the functions of management like Planning, Organising, Staffing, Directing and Controlling. Ans 25. 'Art is concerned with the personal application of knowledge.' The features which compare management with art are as follows: Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR 1) There is lot of literature available in various areas of management like marketing, finance and human resources which the manager has to specialise in. Thus, there is a existence of theoretical knowledge. 2) A manager applies scientific methods and body of knowledge to a given situation, issue or a problem in his/her own unique manner. A good manager work through a combination of imagination, innovation and initiatives. 3) A good manager learns art of management by continuous practice and training over the years. He/She is involved in the activities of the organisation, studies critical situations and formulates his/her own theories for use in a given situation. Ans 26. Features of management that do not establish it as a profession are: i) Restriction to entry: The entry to a profession is restricted through a prescribed qualification. But there is no restriction on anyone being appointed as a manager in any business enterprise. ii) Professional association: All professions are affiliated to a professional association which regulates entry, grants certificate of practice There is no compulsion for managers to be members of such an association. iii) Ethical code of conduct: All professions are bound by a code of conduct which guides the behaviour of its members. AIMA has devised a code of conduct for Indian managers but there is no statutory backing for this code. iv) Service motive: The motive of a profession is to serve their client's interests by rendering dedicated and committed service. The basis purpose of management is to help the organisation achieve its stated goals which may be profit maximisation. However, profit maximisation as the objective of management does not hold true and's fast changing. So presently this feature of profession is not fully present in management. Ans 27. 1) Rishitosh Mukherjee was working at middle level of management. 2) The functions performed at middle level of management are: i) To act as a link between the top management and the workers at the lower level. ii) To motivate the employees of their respective department to achiveve the desired objective. iii) To Cooperate with other departments for the smooth functioning of the organisation. Ans 28. Coordination is the force which synchronises all the functions of management and activities of different departments. Lack of coordination results in overlapping, duplication, delays and chaos in organisation. It is concerned with all the three levels of management as if all the levels of management are looked together, they become a group and as in the case of every group, they also require coordination among themselves. Coordination is implicit and inherent in all functions of an organisation. Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR IMPORTANCE OF COORDINATION The reasons that bring out the importance or the necessity for coordination are as follows: (i) Growth in size: An organisations growth results in the increase in the number of people employed with varied individual aspirations and culture. So it is important to harmonise individual goal with the organisational goals through coordination. (ii) Functional differentiation: All Functionals differentiation: All the departments and divisions may have their own set of objectives, policies and their own style of working. However all departments and individuals are interdependent and cannot work in isolation. Thus, coordination is necessary for linking the activities of various departments. (iii) Specialisation: Contemporary organisations are defined by a high degree of specialisation. Specialisation occurs out of the complexities of contemporary technology and the heterogeneity of tasks to be executed. Companies, hence, must employ a number of experts. Specialists normally think that they are equipped to assess, decide and judge according to their professional standards. They usually do not take guidance or recommendations from others in matters concerning their field of specialisation. Ans 29. Coordination is the process highlighted above which started at the planning stage itself and is implicit and inherent in all the functions of management in an organisation. Coordination refers to the orderly arrangement of individual and group efforts to provide unity of action in the pursuit of a common goal. Coordination is considered to be the essence of management as it helps in creating a harmony among individual efforts towards the realisation of the group goals. Ans 30. a) Dharam considers management as a discipline because there exist a number of theories and principles on management which have been formulated by various management experts. It is taught in various schools and colleges, all over the world, as a separate subject of study. b) Management is not considered to be a full-fledged profession because of the following reasons 1) Restricted entry: Unlike management, the entry to the other professions is restricted through an examination or eligibility criteria like specific percentage in a particular degree or diploma. Hower, management as profession does not fulfill this criterion as anyone can be called a manager regardless of his/her academic qualifications 2) Professional association. Unlike managers, all working professionals have to be a member of an affiliated professional association which regulates their entry, grants certificate of practice and formulates and enforces code of conduct. For example, the practicing lawyers have to be a member of Bar Council of India, the practicing doctors should have membership of All India Medical Association etc. However, in case of management, although there exist several management associations like the AIMA (All India Management Association), neither does it have any statutory backing nor is it mandatory for the practicing managers to a member of such associations. Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482  GNG 2.0 By RAJAT ARORA SIR Ans 31. a) Coordination is the quality of management that Kartik has introduced in the work of the production department as a corrective measure to control the output of workers. Coordination is the process which helps to integrate the efforts of different individ with diverse needs to secure a unity of action in the pursuit of common goals. (b) The two points highlighting the importance of coordination are stated below: (i) Growth in the size. With the growth in the size of an organisation, there proportionate increase in the number of its employees. So there is a greater to unify the efforts of diverse individuals towards the realisation of organisat (ii) Functional differentiation: As a result of functional differentiation in an organis its people and activities get divided into small departments on the basis of functions like marketing, finance etc. Since each such department tends to formulate it own. Ans 32. Yes, Sanjay can be deployed at the post of Assistant Manager in Sales and Marketing Division although he hasn't acquired any professional degree in management as management is not considered to be a full-fledged profession because of the following reasons: i) Restricted entry: Unlike management, the entry to the other professions is restricted through an examination or eligibility criteria like specific percentage in a particular degree or diploma. However, management as a profession does not fulfill this criteria as anyone can be called a manager regardless of his/her academic qualifications. ii) Professional association. Unlike managers, all working professionals have to be a member of an affiliated professional association which regulates their entry, grants certificate of practice and formulates and gforces code of conduct. For example, the practicing lawyers have to be a member of Bar Council of India, the practicing doctors should have membership of All India Medical Association etc. However, in case of management, although there exist several management association like the AIMA (All India Management Association), neither does it have any statutory backing nor is it mandatory for the practicing managers to a member of such associations. Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482 GNG 2.0 Rajat Arora Sir Download DeeCee App for Class 12, CUET, CA Foundation Courses Contact Us At 011-40848482