Principles of Management Question Bank PDF

PRINCIPLES OF MANAGEMENT QUESTION BANK UNIT 1 2 Marks 1. Define Management. - Management is the process of planning, organizing, leading, and controlling resources (people, finances, 9me) to achieve organiza9onal goals effec9vely and efficiently. 2. Define Produc6vity. - Produc9vity refers to the ra9o...

PRINCIPLES OF MANAGEMENT QUESTION BANK UNIT 1 2 Marks 1. Define Management. - Management is the process of planning, organizing, leading, and controlling resources (people, finances, 9me) to achieve organiza9onal goals effec9vely and efficiently. 2. Define Produc6vity. - Produc9vity refers to the ra9o of outputs (goods and services) to inputs (resources like labor, materials, etc.). It measures how efficiently resources are being used in produc9on. 3. What are the func6ons of Managers? - The main func9ons of managers are: 1. Planning: SeHng objec9ves and determining the course of ac9on. 2. Organizing: Arranging resources and tasks to achieve objec9ves. 3. Leading: Mo9va9ng and direc9ng people to work towards goals. 4. Controlling: Monitoring performance and making necessary adjustments. 4. Write the different levels of Management. - The three main levels of management are: 1. Top-Level Management: Includes CEOs, board members, and execu9ves responsible for overall policy and strategy. 2. Middle-Level Management: Department heads, division managers, responsible for implemen9ng policies and overseeing day-to-day opera9ons. 3. Lower-Level Management: Supervisors and team leaders who manage the work of non- managerial employees. 5. What is meant by social audit? - A social audit is the process of evalua9ng and assessing an organiza9on's impact on society, including environmental and social factors, and ensuring ethical prac9ces are followed. 6. What are the effec6ve characteris6cs of Managers? - Effec9ve managers possess: - Leadership: Ability to inspire and guide teams. - CommunicaBon skills: Clear communica9on with team members and stakeholders. - Decision-making skills: Ability to make sound, 9mely decisions. - Problem-solving: Ability to find solu9ons to issues that arise. - Time management: Priori9zing tasks and managing 9me efficiently. 7. Define Organiza6on. - An organiza9on is a group of individuals working together in a structured way to achieve common goals, with roles, responsibili9es, and processes. 8. Define Effec6veness. - Effec9veness refers to the ability to achieve desired results or objec9ves, focusing on doing the right things. 9. Define Efficiency. - Efficiency refers to the ability to use resources op9mally to achieve objec9ves, focusing on doing things in the best possible way with minimal waste. 10. Give the main importance of management. - Management is important because it helps: - Achieve organiza9onal goals through effec9ve planning and control. - Maximize resource u9liza9on to ensure efficiency. - Adapt to changes in the business environment. - Improve employee performance and mo9va9on. 16 Marks 1. Explain briefly about the various func6ons of Management. - The four main func9ons of management are: 1. Planning: Establishing goals and determining how to achieve them. This includes iden9fying opportuni9es and threats and seHng objec9ves. 2. Organizing: Alloca9ng resources, assigning tasks, and structuring the organiza9on to achieve goals. 3. Leading: Mo9va9ng, guiding, and direc9ng employees to achieve organiza9onal objec9ves. Leadership involves communica9on, mo9va9on, and conflict resolu9on. 4. Controlling: Monitoring progress towards goals, iden9fying devia9ons, and implemen9ng correc9ve ac9ons to stay on track. 2. What are Henry Fayol’s 14 principles of management? Explain. - Fayol's 14 principles of management are: 1. Division of Work: Specializa9on increases efficiency. 2. Authority: Managers must have the right to give orders and expect compliance. 3. Discipline: Employees should follow organiza9onal rules and guidelines. 4. Unity of Command: Employees should receive orders from only one superior. 5. Unity of DirecBon: Ac9vi9es with the same objec9ve should be grouped together. 6. SubordinaBon of individual interest to general interest: The organiza9on's interests should take precedence over individual interests. 7. RemuneraBon: Employees should be fairly compensated for their services. 8. CentralizaBon: The degree to which decision-making is concentrated at the top. 9. Scalar Chain: A clear chain of command should be established from top to boVom. 10. Order: Materials and people should be in the right place at the right 9me. 11. Equity: Managers should be kind and just to employees. 12. Stability of Tenure of Personnel: High employee turnover should be avoided. 13. IniBaBve: Employees should be given the freedom to develop and carry out plans. 14. Esprit de Corps: Promo9ng team spirit will enhance organiza9onal success. 3. Explain briefly about the different factors affec6ng the organiza6onal environment. - Factors affec9ng the organiza9onal environment include: 1. External Environment: Includes economic, social, poli9cal, technological, and legal factors. 2. Internal Environment: Company culture, policies, structure, and internal resources. 3. Technological Changes: Advances in technology can influence produc9on and communica9on methods. 4. CompeBBon: The ac9ons of compe9tors in the industry. 5. Government RegulaBons: Laws, rules, and policies that affect business opera9ons. 6. Societal Trends: Changes in customer preferences and societal norms. 4. Explain the overall development of management thought. - The development of management thought includes various schools of thought: 1. Classical Management Theory: Focused on efficiency, formal organiza9on, and structured hierarchy (e.g., Taylor’s Scien9fic Management, Fayol’s Administra9ve Theory). 2. Behavioral Theory: Focused on human behavior and mo9va9on (e.g., Hawthorne Studies, Maslow’s Hierarchy of Needs). 3. QuanBtaBve Approach: Applied mathema9cs and sta9s9cs to management (e.g., Opera9ons Research). 4. ConBngency Theory: Emphasized that management strategies should depend on the situa9on and environment. 5. Modern Management Theories: Include systems theory, Total Quality Management (TQM), and Lean Management. 5. Management: Science or Art – Discuss. - Management as a Science: It involves systema9c knowledge, techniques, and principles that can be studied and applied (e.g., sta9s9cal analysis, opera9ons research). - Management as an Art: It requires crea9vity, intui9on, and personal skills to solve problems and lead people effec9vely. The implementa9on of management principles requires personal judgment and experience. - Conclusion: Management is both a science and an art. It requires the applica9on of scien9fic methods while using the crea9ve judgment of managers. 6. Compare Management and Administra6on. - Management: Concerned with execu9ng policies, leading teams, and day-to-day opera9ons. Managers are responsible for planning, organizing, and controlling. - AdministraBon: Focused on policy-making, seHng objec9ves, and long-term planning. Administrators are typically at the top level of an organiza9on. - Key Differences: Management deals with implementa9on, while administra9on focuses on formula9ng policies and plans. 7. Explain in detail about the different types of business organiza6ons. - Types of business organiza9ons include: 1. Sole Proprietorship: Owned and operated by one person, simple to set up but limited in resources. 2. Partnership: Owned by two or more people who share profits, losses, and responsibili9es. 3. CorporaBon: A legal en9ty separate from its owners (shareholders) with the ability to raise capital through stock issuance. 4. Limited Liability Company (LLC): A hybrid business structure combining features of partnerships and corpora9ons. 5. CooperaBve: Owned and operated by a group of individuals for their mutual benefit. 8. Write the characteris6cs and limita6ons of classical approach. - Characteris9cs: - Focuses on task efficiency and organiza9onal structure. - Emphasizes clear authority and division of labor. - Advocates a hierarchical structure. - Limita9ons: - Overlooks human and social factors. - Treats employees as mere cogs in a machine. - Lack of flexibility in dynamic environments. 9. What are the different responsibili6es of managers in effec6ve management? Explain. - Responsibili9es include: - Se^ng Clear Goals: Ensuring organiza9onal objec9ves are well-defined. - Planning: Organizing resources and seHng priori9es. - DelegaBng: Assigning tasks to the right people. - Monitoring: Tracking progress and performance. - Providing Leadership: Mo9va9ng and inspiring employees. - Decision-making: Making informed choices that align with organiza9onal goals. 10. Discuss in detail about the recent trends in management concepts. - Recent Trends include: - Agile Management: Focuses on flexibility, collabora9on, and customer-centric approaches in managing projects. - Lean Management: Aims to maximize customer value by minimizing waste and improving processes. - Sustainability and CSR: Businesses are increasingly focused on environmental sustainability and corporate social responsibility. - Technology IntegraBon: Using AI, big data, and cloud compu9ng to improve management prac9ces. - Remote and Hybrid Work: Managing teams effec9vely in virtual environments. UNIT 2 2 Marks 1. Define Planning. - Planning is the process of seHng goals, defining strategies to achieve those goals, and outlining steps to implement those strategies. 2. Define Strategies. - Strategies are long-term plans of ac9on designed to achieve specific organiza9onal goals and objec9ves. 3. Define Objec6ves and Goals. - ObjecBves: Broad statements of what an organiza9on seeks to achieve.  - Goals: Specific, measurable outcomes that contribute to achieving objec9ves. 4. What are the different types of plans? - Types of plans include: 1. Strategic Plans: Long-term plans outlining the organiza9on’s direc9on. 2. TacBcal Plans: Short-term plans to implement strategies. 3. OperaBonal Plans: Day-to-day plans for rou9ne opera9ons. 4. ConBngency Plans: Backup plans for unforeseen events. 5. What is meant by Policies? - Policies are general guidelines or principles that set the framework for decision-making within an organiza9on. 6. State the various steps in planning. - Steps in planning include: 1. SeHng objec9ves. 2. Iden9fying alterna9ve courses of ac9on. 3. Evalua9ng alterna9ves. 4. Selec9ng the best alterna9ve. 5. Implemen9ng the plan. 6. Monitoring and reviewing progress. 7. Define MBO (Management by Objec6ves). - MBO is a performance management approach where managers and employees work together to set clear, measurable objec9ves for individual and organiza9onal success. 8. Define Programs. - Programs are comprehensive plans that include a series of related projects or ac9vi9es aimed at achieving specific organiza9onal goals. 9. Define TOWS Matrix. - The TOWS matrix is a strategic management tool used to develop strategies based on internal (strengths and weaknesses) and external (opportuni9es and threats) factors. 10. What do you understand by Decision Making? - Decision-making is the process of choosing the best course of ac9on among alterna9ves to achieve organiza9onal objec9ves. 16 Marks 1. Explain the overall decision-making process. - The decision-making process involves: 1. IdenBfying the problem: Recognizing a challenge or opportunity. 2. Gathering informaBon: Collec9ng relevant data and facts. 3. GeneraBng alternaBves: Brainstorming possible solu9ons. 4. EvaluaBng alternaBves: Weighing the pros and cons of each alterna9ve. 5. SelecBng the best alternaBve: Choosing the op9on that best addresses the problem.  6. ImplemenBng the decision: Taking ac9on to execute the chosen solu9on. 7. Monitoring and evaluaBng: Reviewing the results to ensure the decision was effec9ve. 2. Explain in detail about the various forecas6ng methods. - Forecas9ng methods include: 1. QualitaBve Methods: Based on expert opinions (e.g., Delphi Method, Market Research). 2. QuanBtaBve Methods: Based on numerical data and sta9s9cal techniques (e.g., Time Series Analysis, Regression Analysis). 3. Causal Models: Iden9fying rela9onships between variables to predict future outcomes. 3. Explain the process of MBO. - MBO (Management by Objec9ves) involves seHng clear, measurable objec9ves for employees and managers to work towards. The process includes: 1. SeHng organiza9onal and individual goals. 2. Developing ac9on plans to achieve those goals. 3. Regular performance reviews to assess progress. 4. Rewarding employees for achieving goals. 4. Explain in detail about the TOWS matrix and SWOT analysis. - SWOT Analysis iden9fies an organiza9on’s internal strengths and weaknesses, and external opportuni9es and threats. TOWS Matrix takes this analysis further by developing strategies: 1. SO Strategies: Using strengths to capitalize on opportuni9es. 2. WO Strategies: Using opportuni9es to overcome weaknesses. 3. ST Strategies: Using strengths to counter threats. 4. WT Strategies: Mi9ga9ng weaknesses and avoiding threats. 5. Define policies with its types. Explain the planning premises with types. - Policies are guiding principles that direct decision-making. Types include: 1. General Policies: Broad, overall guidelines. 2. Specific Policies: Applied to specific issues or departments. 3. Procedural Policies: Specify the steps to follow in certain situa9ons. - Planning Premises are assump9ons or condi9ons that impact planning. Types include: 1. Internal Premises: Based on the organiza9on’s own resources and policies. 2. External Premises: Based on the external environment (economic, poli9cal condi9ons). 6. Explain the rela6onship of planning and controlling. - Planning sets the goals and defines the ac9ons to achieve them. Controlling ensures that the ac9ons taken align with the plan, through monitoring and adjustments. Planning provides the direc9on, and controlling ensures the plan is being followed. 7. Discuss in detail about performance appraisal. - Performance appraisal is the process of assessing an employee’s job performance, providing feedback, and iden9fying areas for improvement. It helps in: 1. Employee development: Iden9fying training needs. 2. Rewards and recogniBon: Tying rewards to performance. 3. Decision-making: Informing promo9on and salary decisions. 8. Name the classifica6ons of planning prac6ces. - Planning prac9ces are classified into:  1. Strategic Planning: Long-term goals and organiza9onal direc9on. 2. TacBcal Planning: Short-term ac9ons to implement strategies. 3. OperaBonal Planning: Daily opera9ons and rou9ne tasks. 4. ConBngency Planning: Backup plans for unforeseen events. 9. Discuss the various factors affec6ng the decision-making process. - Factors affec9ng decision-making include: 1. Internal Factors: Organiza9onal culture, structure, and resources. 2. External Factors: Market condi9ons, compe99on, and regulatory environment. 3. Personal Factors: Manager’s experiences, biases, and preferences. 4. Time and InformaBon Availability: Decisions may depend on the 9me and informa9on at hand. 10. Explain briefly about the major kinds of strategies. - Major types of strategies include: 1. Growth Strategy: Expanding the business through new products or markets. 2. Stability Strategy: Maintaining current market posi9on and opera9ons. 3. Retrenchment Strategy: Reducing scope of opera9ons due to financial difficul9es. 4. DiversificaBon Strategy: Expanding into new industries or product lines. UNIT 3 2 Marks 1. Define Span of Management. - The span of management refers to the number of subordinates or employees that a manager can directly supervise or control. A narrow span means fewer subordinates per manager, while a wide span means more subordinates. 2. Give the main difference between the formal and informal organiza6on. - Formal OrganizaBon: Structured and planned, with defined roles, responsibili9es, and authority lines, typically seen in hierarchical management systems. - Informal OrganizaBon: Arises naturally in a workplace and is based on social rela9onships, personal networks, and mutual interac9ons, not officially recognized or structured. 3. List out the steps involved in organizing. - The steps involved in organizing are: 1. IdenBfying the acBviBes: Determining the tasks needed to achieve objec9ves. 2. Classifying and grouping acBviBes: Grouping similar tasks into departments or units. 3. Assigning duBes: Alloca9ng tasks to employees based on their skills. 4. DelegaBng authority: Giving employees the authority to carry out tasks. 5. Establishing relaBonships: Defining the rela9onship between posi9ons and departments. 6. Providing resources: Ensuring necessary resources (human, financial, physical) are available for task execu9on. 4. Discuss “Departmenta6on”. - Departmenta9on is the process of grouping similar ac9vi9es or func9ons into departments to achieve organiza9onal objec9ves efficiently. Common types include: 1. FuncBonal DepartmentaBon: Grouping based on specialized func9ons (e.g., marke9ng, finance). 2. Product DepartmentaBon: Grouping based on products or product lines. 3. Geographical DepartmentaBon: Grouping based on geographic regions. 4. Customer DepartmentaBon: Grouping based on customer needs or types. 5. Process DepartmentaBon: Grouping based on the produc9on process. 5. What are the different bases of departmenta6on? - Bases of Departmenta9on include: 1. FuncBonal: Grouping based on similar func9ons (e.g., finance, marke9ng). 2. Product: Grouping based on different products or product lines. 3. Geographical: Grouping based on loca9on or region (e.g., North America, Europe). 4. Customer: Grouping based on customer needs (e.g., retail, wholesale). 5. Process: Grouping based on produc9on or opera9onal processes (e.g., assembly line). 6. Define Decentraliza6on. - Decentraliza9on refers to the process of distribu9ng decision-making authority to lower levels of management. In a decentralized organiza9on, middle and lower-level managers have the autonomy to make decisions without seeking approval from top management. 7. What is Organiza6on Chart? - An organiza9on chart is a graphical representa9on of an organiza9on’s structure, illustra9ng the roles, rela9onships, and hierarchy of authority among employees. It shows who reports to whom and how tasks are distributed. 8. Define Staffing. - Staffing is the process of recrui9ng, selec9ng, training, and developing employees to fill roles in the organiza9on. It involves ensuring that the right people are hired for the right posi9ons. 9. What is meant by Performance Appraisal? - Performance appraisal is the process of evalua9ng an employee's performance over a specific period. It helps in assessing strengths, weaknesses, providing feedback, and determining rewards, promo9ons, or areas for improvement. 10. What is Human Resource Planning? - Human resource planning is the process of forecas9ng an organiza9on's future human resource needs and developing strategies to meet those needs. It involves ensuring that the right number of people with the right skills are available at the right 9me. 16 Marks 1. Explain briefly about the various types of DepartmentaBon. - The main types of departmenta9on include: 1. FuncBonal DepartmentaBon: Groups tasks based on specialized func9ons, such as finance, marke9ng, or HR. It is efficient for specializa9on but may lead to siloed thinking. 2. Product DepartmentaBon: Groups tasks around specific products or product lines (e.g., product A, product B). This allows focused aVen9on on product development but may duplicate resources. 3. Geographical DepartmentaBon: Divides the organiza9on by loca9on (e.g., North America, Europe). It helps manage regional challenges but may cause inconsistent policies. 4. Customer DepartmentaBon: Organizes based on customer groups (e.g., retail customers, corporate clients). This allows tailored services but may require different strategies for each customer segment. 5. Process DepartmentaBon: Divides work based on the produc9on or opera9onal process (e.g., assembly, quality control). This ensures specializa9on in each stage but might reduce flexibility. 2. Explain briefly about the various types of Organiza6onal structures. - Organiza9onal structures define the formal framework of authority, roles, and communica9on flow. Major types include: 1. FuncBonal Structure: Divides the organiza9on into departments based on specialized func9ons (e.g., HR, marke9ng). It ensures specializa9on but may create silos. 2. Divisional Structure: Based on product, service, or geography. For example, separate divisions for North America, Europe, and Asia. It allows flexibility and focus but can lead to duplica9on of resources. 3. Matrix Structure: A hybrid model combining func9onal and divisional structures. Employees report to both func9onal managers and project managers. This promotes collabora9on but can lead to confusion in authority. 4. Flat Structure: Few hierarchical levels, with decision-making power spread across lower levels. It promotes flexibility but may cause role ambiguity. 5. Team-based Structure: Organizes employees into teams, allowing for greater collabora9on and flexibility. It improves communica9on but may lack clear authority lines. 3. Discuss the span of management/managerial effec6veness. - Span of management refers to the number of employees a manager can effec9vely supervise. The ideal span depends on: 1. Nature of the work: Simple tasks may allow for a wider span. 2. Employee skills: More experienced employees can be managed effec9vely with a wider span. 3. Manager’s capabiliBes: Skilled managers can handle more subordinates. 4. Geographical spread: A more geographically dispersed workforce may need a narrower span. - A narrow span provides more control and beVer supervision but increases managerial costs. A wide span promotes autonomy and reduces overheads but can lead to less direct supervision and communica9on. 4. Explain briefly about the overall selec6on process. - The selec9on process is the series of steps an organiza9on follows to choose the most suitable candidate for a job. It generally includes: 1. Job Analysis: Iden9fying the requirements of the job. 2. Sourcing Candidates: AVrac9ng poten9al candidates through adver9sing or recruitment agencies. 3. Screening ApplicaBons: Reviewing resumes and shortlis9ng candidates. 4. Interviews: Conduc9ng personal or panel interviews to assess candidates. 5. TesBng: Administering relevant skill tests or assessments. 6. Background Checks: Verifying the candidate’s history, qualifica9ons, and references. 7. Final Decision: Selec9ng the most suitable candidate and offering the job. 5. Discuss briefly the various steps involved in organizing. - The organizing process includes: 1. IdenBfying acBviBes: Determining all tasks needed to achieve the organiza9onal goals. 2. Classifying and grouping acBviBes: Organizing similar tasks together into departments (e.g., marke9ng, HR). 3. Assigning duBes: Alloca9ng specific responsibili9es to individuals or groups. 4. DelegaBng authority: Empowering employees to make decisions within their roles. 5. Establishing relaBonships: Defining repor9ng rela9onships and communica9on flow. 6. Providing resources: Ensuring that necessary resources are available for the tasks. 6. List out the difference between Formal and Informal Organiza6on. - Formal Organiza9on: 1. Defined roles, responsibili9es, and authority. 2. Hierarchical and structured. 3. Officially recognized by the organiza9on. 4. Focused on organiza9onal goals. - Informal Organiza9on: 1. Based on social rela9onships and personal interac9ons. 2. Fluid and spontaneous. 3. Not officially recognized. 4. Focused on personal goals and support. 7. List out the basic ac6vi6es of Human Resource Development (HRD). - The basic ac9vi9es of HRD include: 1. Training and Development: Enhancing employees' skills for current and future roles. 2. Performance Appraisal: Assessing employee performance and providing feedback. 3. Career Development: Planning and suppor9ng employee career paths. 4. Succession Planning: Preparing employees for future leadership roles. 5. Employee Engagement: Fostering a posi9ve work environment to improve mo9va9on and sa9sfac9on. 8. Name the types of centraliza6on. - Types of centraliza9on include: 1. Complete CentralizaBon: Decision-making authority is concentrated at the top level of management. 2. ParBal CentralizaBon: Some decisions are made centrally, while others are delegated to lower levels. 3. DecentralizaBon: Decision-making authority is distributed across various levels of management. 9. Explain about Organiza6onal Culture. - Organiza9onal culture refers to the shared values, beliefs, aHtudes, and behaviors that shape how employees within an organiza9on interact with each other and with outsiders. It influences decision-making, communica9on, and overall work environment. 10. Explain about Human Resource Planning. - Human Resource Planning (HRP) involves forecas9ng an organiza9on’s future human resource needs and ensuring that the right people are available at the right 9me. It includes: 1. Demand ForecasBng: Predic9ng the future workforce needs. 2. Supply ForecasBng: Analyzing current workforce capabili9es. 3. Gaps Analysis: Iden9fying shortages or surpluses of talent. 4. AcBon Plans: Developing strategies for recruitment, training, and development to address gaps. UNIT 4 2 Marks 1. Define Leading. - Leading is the process of influencing and mo9va9ng employees to achieve organiza9onal goals. It involves guiding, direc9ng, and inspiring employees to perform their best. 2. What are the differences between crea6vity and innova6on? - Crea9vity is the ability to generate new ideas, concepts, or solu9ons. It is the process of thinking differently and coming up with original ideas. - Innova9on is the process of turning crea9ve ideas into prac9cal, real-world applica9ons. It involves implemen9ng new ideas to create value. 3. Define Mo6va6on. - Mo9va9on is the psychological process that s9mulates and drives individuals to take ac9on toward achieving specific goals. It can be intrinsic (internal) or extrinsic (external). 4. What are the elements in the Maslow hierarchy of needs? - Maslow’s Hierarchy of Needs is a psychological theory that ranks human needs in a pyramid, from basic to higher-level needs: 1. Physiological Needs: Basic needs like food, water, and shelter. 2. Safety Needs: Security, stability, and protec9on. 3. Social Needs: Belonging, friendship, and love. 4. Esteem Needs: Recogni9on, respect, and self-esteem. 5. Self-ActualizaBon Needs: Fulfillment of personal poten9al and crea9vity. 5. Define Leadership. - Leadership is the ability to influence, guide, and direct others to achieve common goals. It involves seHng a vision, making decisions, and inspiring others to follow. 6. List out the various styles of leadership with examples. - Leadership Styles: 1. AutocraBc Leadership: The leader makes decisions unilaterally, and expects obedience (e.g., military leadership). 2. DemocraBc Leadership: The leader involves team members in decision-making (e.g., team- based organiza9ons). 3. Laissez-Faire Leadership: The leader provides minimal direc9on, allowing team members to make decisions (e.g., crea9ve industries). 4. TransformaBonal Leadership: Focuses on inspiring and mo9va9ng employees to achieve high levels of performance and personal growth (e.g., Elon Musk). 5. TransacBonal Leadership: Based on structured tasks and rewards for performance (e.g., retail management). 7. Define Communica6on. - Communica9on is the process of exchanging informa9on, ideas, or messages between individuals or groups. It can be verbal, non-verbal, wriVen, or electronic. 8. What is meant by downward communica6on? - Downward communica9on refers to the flow of informa9on from higher levels of the organiza9onal hierarchy to lower levels. This can include instruc9ons, feedback, policies, and performance expecta9ons. 9. Define Opera6ons Research. - Opera9ons Research (OR) is a scien9fic approach to decision-making that uses mathema9cal models, sta9s9cal analysis, and op9miza9on techniques to solve complex organiza9onal problems. 10. What do you understand by JIT (Just-In-Time)? - Just-In-Time (JIT) is an inventory management system that aims to reduce waste and increase efficiency by producing goods only when they are needed, in the quan9ty needed, and at the right 9me. 16 Marks 1. Explain briefly about three theories of Mo6va6on. - Maslow’s Hierarchy of Needs: Suggests that human mo9va9on is based on a hierarchy of five needs (physiological, safety, social, esteem, and self-actualiza9on). People are mo9vated to fulfill lower-level needs before moving to higher ones. - Herzberg’s Two-Factor Theory: Proposes that job sa9sfac9on and dissa9sfac9on are influenced by two factors: hygiene factors (e.g., salary, job security) and mo9vators (e.g., recogni9on, achievement). Hygiene factors prevent dissa9sfac9on but do not mo9vate, while mo9vators enhance job sa9sfac9on. - McGregor’s Theory X and Theory Y: Theory X assumes that employees are inherently lazy and need to be closely supervised, while Theory Y assumes that employees are self-mo9vated and enjoy responsibility. Managers should adapt their leadership style based on the assump9ons they make about their employees. 2. Explain in detail about the various func6ons of a Leader. - The func9ons of a leader include: 1. Se^ng Vision and Goals: A leader provides direc9on and sets long-term goals for the team. 2. MoBvaBng and Inspiring: Leaders encourage employees to work towards the organiza9onal goals by providing support and recogni9on. 3. Making Decisions: Leaders make cri9cal decisions, ensuring the organiza9on moves in the right direc9on. 4. Building RelaBonships: A leader fosters posi9ve rela9onships within teams and with external stakeholders. 5. Providing Feedback and Guidance: Offering regular feedback to help employees improve performance. 6. Problem-Solving: Addressing challenges that arise and finding solu9ons for overcoming obstacles. 3. Discuss in detail about Crea6vity and Innova6on. - Crea9vity is the genera9on of new ideas or approaches. It involves thinking outside the box and challenging exis9ng norms. Crea9vity is essen9al for genera9ng new solu9ons and improvements. - Innova9on is the prac9cal applica9on of crea9vity. It is the process of turning crea9ve ideas into valuable products, services, or processes. Innova9on can lead to compe99ve advantages, market leadership, and business growth. Examples of innova9on include new technologies (e.g., smartphones), business models (e.g., sharing economy), or opera9onal improvements (e.g., automa9on). 4. Explain the various types of Leadership with its different styles. - Types of Leadership: 1. AutocraBc Leadership: The leader makes decisions without consul9ng others. This style is effec9ve in situa9ons requiring quick decisions but can demo9vate employees over 9me. 2. DemocraBc Leadership: Leaders involve employees in decision-making, encouraging par9cipa9on and feedback. This promotes collabora9on and morale but can be 9me-consuming. 3. Laissez-Faire Leadership: The leader provides minimal guidance and allows employees to make decisions. This works well in crea9ve or self-mo9vated teams but can lead to confusion or lack of direc9on in other seHngs. 4. TransformaBonal Leadership: Leaders focus on inspiring employees, mo9va9ng them to achieve their highest poten9al. They encourage innova9on and foster a shared vision of success. 5. TransacBonal Leadership: Based on a system of rewards and punishments. Employees are mo9vated by clear goals and the consequences of mee9ng or failing to meet those goals. 5. Discuss in detail about the process and types of Mo6va6on. - Process of Mo9va9on: 1. Need RecogniBon: The process starts when an individual recognizes a need or desire. 2. Goal Se^ng: The individual sets a goal to fulfill the need. 3. AcBon: The individual takes ac9on to achieve the goal. 4. Feedback and Reinforcement: Ager ac9on is taken, feedback helps the individual assess progress and adjust behavior. - Types of MoBvaBon: 1. Intrinsic MoBvaBon: Mo9va9on that comes from within, such as personal sa9sfac9on, a sense of accomplishment, or the joy of doing the task itself. 2. Extrinsic MoBvaBon: Mo9va9on that comes from external rewards, such as bonuses, promo9ons, or recogni9on.  3. Achievement MoBvaBon: The desire to accomplish something difficult or to excel in a compe99ve environment. 4. AffiliaBon MoBvaBon: The desire for social rela9onships, interac9on, and a sense of belonging. 5. Power Mo9va9on: The desire to influence or control others. 6. Explain the different characteris6cs of a Leader. - Characteris9cs of a good leader include: 1. Visionary: A leader must have a clear vision and direc9on for the future. 2. Confidence: Leaders must display confidence in their abili9es and decisions. 3. CommunicaBon Skills: Effec9ve leaders are excellent communicators, capable of clearly conveying ideas. 4. EmoBonal Intelligence: Understanding and managing one’s emo9ons and the emo9ons of others. 5. Integrity: Leaders must demonstrate honesty, ethics, and a strong moral compass. 6. Decisiveness: The ability to make 9mely decisions, ogen under pressure. 7. Empathy: A leader must be able to understand and respond to the needs of their team members. 7. List the tools and techniques used in opera6ons management system. - Tools and techniques used in opera9ons management include: 1. ForecasBng: Predic9ng future demand and adjus9ng opera9ons accordingly. 2. Inventory Management: Managing inventory levels to ensure a balance between supply and demand. 3. Total Quality Management (TQM): A method focused on con9nuous improvement of quality in every aspect of the organiza9on. 4. Just-In-Time (JIT): A produc9on strategy that aims to reduce inventory costs by producing goods only when needed. 5. Six Sigma: A data-driven methodology for elimina9ng defects and improving process efficiency. 6. Supply Chain Management: Managing the flow of goods and services from suppliers to customers. 7. Lean Manufacturing: A systema9c method for waste minimiza9on and improving processes. 8. Explain briefly about MIS (Management Informa6on System). - Management Informa9on System (MIS) is a system used by organiza9ons to collect, process, store, and distribute informa9on for decision-making purposes. MIS provides managers with 9mely, accurate, and relevant data to assist in planning, controlling, and decision-making. 9. Explain the different barriers and breakdowns of the communica6on process. - Barriers to Communica9on include: 1. Physical Barriers: Geographical distances or environmental condi9ons that hinder communica9on. 2. Language Barriers: Misunderstandings due to differences in language, jargon, or terminology. 3. EmoBonal Barriers: Emo9onal states (e.g., anger, fear) that prevent effec9ve communica9on. 4. Cultural Barriers: Differences in cultural values, norms, or communica9on styles. 5. Perceptual Barriers: Differences in percep9on that can lead to misunderstandings. 6. Technological Barriers: Problems related to communica9on tools or plaiorms. 10. Explain in detail about the different types of Budgets. - Types of Budgets: 1. Fixed Budget: A budget that remains the same regardless of changes in ac9vity levels. 2. Flexible Budget: A budget that adjusts according to changes in ac9vity levels or business condi9ons. 3. Incremental Budget: A budget based on the previous period's budget with adjustments made for infla9on, growth, etc. 4. Zero-Based Budget: A budget that starts from scratch, requiring jus9fica9on for all expenses. 5. Capital Budget: A budget for large, long-term investments, such as equipment or property. 11. Difference between Mo6va6on and Sa6sfac6on. - Mo9va9on refers to the internal process that drives an individual to take ac9on towards achieving goals, while sa9sfac9on refers to the contentment or fulfillment that an individual feels ager achieving those goals or having their needs met. UNIT 5 2 Marks 1. Define Controlling. - Controlling is the process of monitoring and evalua9ng the progress towards organiza9onal goals. It involves seHng performance standards, measuring actual performance, and taking correc9ve ac9ons to ensure that objec9ves are achieved. 2. What are the steps involved in the control process? - The steps in the control process are: 1. Se^ng Standards: Defining clear, measurable objec9ves and performance standards. 2. Measuring Performance: Comparing actual performance against the set standards. 3. Analyzing DeviaBons: Iden9fying any variances between actual performance and the desired standards. 4. Taking CorrecBve AcBon: Making necessary adjustments or interven9ons to ensure that the objec9ves are achieved. 3. Define Budge6ng. - Budge9ng is the process of planning and alloca9ng financial resources to different departments or projects in an organiza9on. It involves crea9ng a detailed plan for income and expenditures for a specific period. 4. What is meant by MIS? - MIS (Management Informa9on System) refers to a system used to collect, process, and disseminate informa9on to help managers in decision-making. It involves sogware tools, data, and procedures that provide 9mely and relevant informa9on for organiza9onal control and management. 5. What is interna6onal business? - Interna9onal business involves the trade of goods, services, and resources across na9onal borders. It includes ac9vi9es such as impor9ng, expor9ng, joint ventures, and foreign direct investment. 6. Define Globaliza6on. - Globaliza9on refers to the process of increased interconnectedness and interdependence among countries, businesses, and people. It involves the global flow of goods, services, informa9on, technology, and labor. 7. What is MNC? Give an example. - MNC (Mul9na9onal Corpora9on) is a company that operates in mul9ple countries, with a centralized head office in one country and subsidiaries or branches in other countries. Example: Apple Inc. 8. Define Repor6ng. - Repor9ng refers to the process of providing informa9on about business ac9vi9es, progress, and performance. It involves the prepara9on of formal or informal documents to communicate results, issues, and other relevant data to stakeholders. 9. What are the benefits of IT in controlling? - Benefits of IT in controlling include: 1. Real-Bme data access: IT systems allow managers to access real-9me performance data for more effec9ve monitoring. 2. AutomaBon of processes: IT can automate rou9ne tasks, ensuring 9mely and accurate reports. 3. Improved decision-making: With beVer data analysis tools, managers can make more informed decisions. 4. Cost savings: Automa9on and technology help reduce manual errors, which can lower costs. 10. What do you mean by PERT? - PERT (Program Evalua9on and Review Technique) is a project management tool used to plan and control projects. It involves breaking down a project into tasks, es9ma9ng the 9me needed to complete each task, and evalua9ng the overall 9meline to iden9fy the cri9cal path. 16 Marks 1. Explain the difference between Japanese and US Management. - Japanese Management: - Emphasis on teamwork: Japanese management emphasizes group harmony, consensus-building, and coopera9on. - Long-term focus: Decisions are made with a long-term perspec9ve, ogen at the expense of short-term profits. - Employee loyalty: Companies invest in employees’ training and development, expec9ng long- term commitment. - Quality control: Japan focuses heavily on quality at every level of produc9on (e.g., Total Quality Management). - US Management: - Emphasis on individualism: US management tends to value individual performance and reward personal achievement. - Short-term focus: Decision-making ogen priori9zes short-term profits, especially for publicly traded companies. - Performance-based rewards: Employees are rewarded based on performance and achievements.  - Focus on innovaBon: The US places a strong emphasis on innova9on and technology-driven growth. 2. Explain in detail about MNCs. - MNCs (Mul9na9onal Corpora9ons) are organiza9ons that operate in mul9ple countries, with subsidiaries or branches in various regions. These corpora9ons have a global market presence and a centralized decision-making process. - CharacterisBcs of MNCs: 1. Global Presence: They operate in several countries and have a broad interna9onal market. 2. Centralized Control: While MNCs operate across countries, their headquarters typically make strategic decisions. 3. Investment in Foreign Markets: MNCs ogen make direct investments in foreign countries, establishing factories, outlets, or subsidiaries. 4. Standardized Products/Services: Many MNCs offer standardized products or services across different countries to maintain brand consistency. 5. Cultural and Legal AdaptaBon: MNCs must adapt their business strategies to local cultures, laws, and consumer preferences. - Examples: 1. Coca-Cola 2. Toyota 3. Microsog 3. Discuss in detail about the techniques used for improving Produc6vity. - Techniques for Improving Produc9vity: 1. AutomaBon: Using machines or technology to perform tasks more efficiently, reducing manual labor and errors. 2. Lean Manufacturing: A system designed to minimize waste and maximize efficiency by improving processes and reducing unnecessary steps. 3. Six Sigma: A data-driven approach for elimina9ng defects and improving process quality. 4. Training and Development: Enhancing employees' skills and knowledge to improve work efficiency and quality. 5. Process Reengineering: Redesigning business processes to achieve significant improvements in performance and produc9vity. 6. Total Quality Management (TQM): A management approach focused on con9nuous improvement in all organiza9onal processes, involving every employee in quality enhancement. 7. Outsourcing: Delega9ng non-core ac9vi9es to external organiza9ons to improve efficiency and reduce costs. 4. Explain the term ‘Repor6ng’. - Repor9ng in management refers to the systema9c collec9on, analysis, and presenta9on of informa9on related to the business's performance and opera9ons. It includes financial, opera9onal, and strategic reports that help management assess progress, iden9fy problems, and make decisions. Examples include: 1. Financial Reports: Profit and loss statements, balance sheets. 2. Performance Reports: Reports showing key performance indicators (KPIs). 3. Progress Reports: Updates on the status of ongoing projects or ini9a9ves. 5. Explain in detail the preven6ve control mechanism towards achieving a unified global management theory. - Preven9ve Controls are designed to prevent problems before they occur, ensuring that goals are achieved without devia9ons. In global management, preven9ve control involves: 1. Standardizing Policies and Procedures: Establishing clear, consistent rules across all branches or subsidiaries. 2. Training and Development: Ensuring all employees are well-trained to understand global opera9ons and poten9al challenges. 3. Risk Assessment: Iden9fying poten9al risks in different markets and taking steps to mi9gate them. 4. Market Research: Con9nuously gathering data about local condi9ons, customer preferences, and cultural differences to an9cipate issues. 5. Ethical Guidelines: Establishing a strong ethical framework to guide opera9ons across diverse markets. 6. Impact of IT in Management concepts – Discuss. - IT in Management has revolu9onized business opera9ons and management processes by enabling faster decision-making, improving communica9on, and enhancing efficiency. Some impacts of IT include: 1. Real-Bme CommunicaBon: IT tools like emails, video conferencing, and instant messaging have streamlined communica9on within teams and between organiza9ons. 2. Data Analysis and Decision-Making: IT allows managers to analyze large volumes of data quickly and make more informed decisions. 3. AutomaBon: IT systems automate rou9ne tasks, such as payroll, inventory management, and customer rela9onship management, improving efficiency. 4. CollaboraBon Tools: Plaiorms like project management sogware (e.g., Trello, Asana) enable teams to work collabora9vely across different loca9ons. 5. Global Reach: IT enables organiza9ons to operate on a global scale, reach interna9onal markets, and manage global supply chains. 7. Discuss briefly about the various func6ons of MNC. - Func9ons of MNCs include: 1. Global MarkeBng: MNCs engage in marke9ng ac9vi9es across mul9ple countries, adap9ng products and adver9sing strategies to local markets. 2. InternaBonal ProducBon: MNCs ogen set up produc9on facili9es in foreign countries to reduce costs and meet local demand. 3. Research and Development: MNCs invest in R&D to innovate and create products that cater to different markets. 4. Finance and Investment: MNCs manage financial resources across countries, ogen making direct investments in foreign markets. 5. Human Resources Management: MNCs oversee a diverse global workforce, managing recruitment, training, and development across countries. 8. Explain in detail about Globaliza6on and Liberaliza6on. - Globaliza9on refers to the process of increasing interconnectedness between economies, socie9es, and cultures due to the growth of interna9onal trade, investment, and communica9on. It leads to the crea9on of a global market where goods, services, and capital flow more freely across borders. - Liberaliza9on refers to the removal of restric9ons on trade, investment, and economic ac9vi9es. It involves opening up markets to foreign compe99on, reducing tariffs, and allowing businesses to operate freely across borders. 9. Explain in detail repor6ng and ROI. - Repor9ng involves providing informa9on about the performance, ac9vi9es, and outcomes of a business, including financial reports, progress updates, and other relevant data. - ROI (Return on Investment) is a financial metric used to evaluate the profitability of an investment. It is calculated by dividing the net profit by the cost of the investment and is expressed as a percentage. 10. Write down the management concept in Germany. - German Management emphasizes efficiency, precision, and long-term planning. The management approach is highly structured, with clear hierarchies and decision-making processes. It ogen involves a focus on engineering excellence, precision, and quality control. Decision-making is ogen slow, as German organiza9ons tend to value careful analysis and consensus before ac9ng. 11. Explain in detail the various forms of Interna6onal business. - Forms of Interna9onal Business: 1. ExporBng: Selling goods and services produced in one country to another. 2. Licensing: Allowing a foreign company to produce and sell products using a company’s brand name, patents, or intellectual property. 3. Franchising: A form of licensing where a business allows another party to use its brand, trademarks, and opera9onal systems. 4. Joint Ventures: A business arrangement where two or more companies from different countries collaborate to create a new business en9ty. 5. Foreign Direct Investment (FDI): Inves9ng capital in a foreign country by establishing opera9ons or acquiring businesses. 6. Wholly Owned Subsidiaries: A business owned en9rely by a parent company, ogen located in a foreign market.