Tuesday, December 4, 2007
Saturday, December 1, 2007
Nature and Significance of Management
Ques1. Explain ‘Management of People’ as a dimension of management.
Ques2. What does a manager aspire while doing work?
(Hint: Optimum utilization of resources to accomplish the task efficiently and effectively)
Ques3. What is the difference between ‘doing things right’ and ‘doing the right things’?
(Hint: efficiency and effectiveness respectively)
Ques4. Name and explain the organizational objectives of management.
(Hint: Survival, Profit, and Growth)
Ques5. Illustrate with example the meaning of social objectives of management.
(Hint: Fulfillment of responsibility towards society e.g. Asian paints contributed a large amount of funds to enable farmers to use their local resources)
Ques6. “Lack of management results in wastage of time, money and efforts.” Do you agree with this statement? Give reasons.
(Hint: Yes; Importance of management)
Ques7. Write a note on ‘Management of Twenty first Century’.
Ques8. Is there a difference between planning, organizing, staffing, directing, and controlling of various organizations such as school, club, restaurant, and a steel plant? Which characteristic of management is highlighted by this?
(Hint: No, pervasive)
Ques9. Mr. solution, who is an MBA has been appointed at the post of General Manager in Sa Re Ga Ma Ltd. Just after his appointment, he took a decision to set up a chemical plant near a residential colony. (The chosen location to set up the plant was favourable for many reasons to the company). After some time, as another important decision to the amount of charity been given annually to educational institution and religious institutions was withdrawn giving the justification that it was an unnecessary burden on the company. More emphasis was given to the share of company in the market and in search of modern procedures. Apart from this, a long time labour-dispute was resolved by taking a balanced decision.
· Tell whether Mr. Solution is at fault?
· If yes, the fault is in which context?
· How can the mistake be amended?
(Hint: Yes, he is avoiding social objective of management)
Ques9. Mr. Problem is working at the post of Sales Manager to Surabhi Tel. Ltd. Last year, the targeted sakes increased to 20,000 units from earlier target of 18,000 units. This is achieved very easily. To achieve this, he increased the expenditure on advertisement to almost double.
Did sales manager perform his duty efficiently and effectively?
If not, then how?
(Hint: He is effective but not efficient)
Ques10. “Management is neither as precise nor as comprehensive as the natural and pure sciences.” Why? Explain.
(Hint: Management as a science highlighting inexact or social science)
Ques11. Ms Bharti passed her M.B.B.S. examination in the first division in 2003. Later, In 2006 she passed her MS. as an eye surgeon. She was awarded a gold medal. After completing her studies she joined a big hospital as an eye surgeon. She is performing 10 operations every day successfully. Tell, what aspect of Bharti’s experience is science and what aspect is art?
(Hint: Study of MBBS and MS is science and working as an eye surgeon is an art)
Ques2. What does a manager aspire while doing work?
(Hint: Optimum utilization of resources to accomplish the task efficiently and effectively)
Ques3. What is the difference between ‘doing things right’ and ‘doing the right things’?
(Hint: efficiency and effectiveness respectively)
Ques4. Name and explain the organizational objectives of management.
(Hint: Survival, Profit, and Growth)
Ques5. Illustrate with example the meaning of social objectives of management.
(Hint: Fulfillment of responsibility towards society e.g. Asian paints contributed a large amount of funds to enable farmers to use their local resources)
Ques6. “Lack of management results in wastage of time, money and efforts.” Do you agree with this statement? Give reasons.
(Hint: Yes; Importance of management)
Ques7. Write a note on ‘Management of Twenty first Century’.
Ques8. Is there a difference between planning, organizing, staffing, directing, and controlling of various organizations such as school, club, restaurant, and a steel plant? Which characteristic of management is highlighted by this?
(Hint: No, pervasive)
Ques9. Mr. solution, who is an MBA has been appointed at the post of General Manager in Sa Re Ga Ma Ltd. Just after his appointment, he took a decision to set up a chemical plant near a residential colony. (The chosen location to set up the plant was favourable for many reasons to the company). After some time, as another important decision to the amount of charity been given annually to educational institution and religious institutions was withdrawn giving the justification that it was an unnecessary burden on the company. More emphasis was given to the share of company in the market and in search of modern procedures. Apart from this, a long time labour-dispute was resolved by taking a balanced decision.
· Tell whether Mr. Solution is at fault?
· If yes, the fault is in which context?
· How can the mistake be amended?
(Hint: Yes, he is avoiding social objective of management)
Ques9. Mr. Problem is working at the post of Sales Manager to Surabhi Tel. Ltd. Last year, the targeted sakes increased to 20,000 units from earlier target of 18,000 units. This is achieved very easily. To achieve this, he increased the expenditure on advertisement to almost double.
Did sales manager perform his duty efficiently and effectively?
If not, then how?
(Hint: He is effective but not efficient)
Ques10. “Management is neither as precise nor as comprehensive as the natural and pure sciences.” Why? Explain.
(Hint: Management as a science highlighting inexact or social science)
Ques11. Ms Bharti passed her M.B.B.S. examination in the first division in 2003. Later, In 2006 she passed her MS. as an eye surgeon. She was awarded a gold medal. After completing her studies she joined a big hospital as an eye surgeon. She is performing 10 operations every day successfully. Tell, what aspect of Bharti’s experience is science and what aspect is art?
(Hint: Study of MBBS and MS is science and working as an eye surgeon is an art)
Principles of Management
Ques1. ‘The Principles of Management are different from those used in Pure science.’ Write any one difference.
Ques2. Why is it said that management principles are universal?
Ques3. Explain the following principles:
· Equity
· Order
· Remuneration of employees
· Parity of authority and responsibility
· Unity of direction
Ques4. Different techniques were developed by Taylor to facilitate principles of scientific management. One of them is ‘fatigue study’. What is the objective of this study?
Ques5. List any two principles of ‘Scientific Management’ formulated by Taylor for managing an organization scientifically.
Ques6. Name and explain that principle of Fayol which suggests that communication from top to bottom follow the official lines of command.
Ques7. Why is it said that management principles are contingent?
Ques8. Which principle of scientific management suggests that true interest of management and workers are the same?
Ques9. One of the fourteen of management as suggested by Fayol, emphasizes that there should be a team spirit and harmony in work group, name the principle of management and explain it.
Ques10. Name and explain the principle of Fayol which suggests that a subordinate should receive orders from only one superior.
Ques11. Which principle of scientific management suggests the introduction of scientific investigation and analysis of management practices?
Ques12. ‘Management is intangible force.’ Explain.
Ques13. Why is it said that management principles are general guidelines?
Ques14. Chhavi and Nidhi are working in the same organization. They perform similar jobs but they are paid their salaries at different rates. Which principle of management is violated in this situation? Explain.
OR
Hina and Harish are typists in a company having same educational qualifications. Hina is getting Rs.3000/ per month and Harish Rs.4000/ per month as salary for the same working hours. Which principle of management is violated in this case? Name and explain.
Ques15. Multiple choice questions (1 mark)
1. The principles of management are significant because of :
· Increase in efficiency
· Optimum utilization of resources
· Initiative
· Adaptation to changing technology
2. Henry Fayol was a
· Social scientist
· Accountant
· Mining engineer
· Production engineer
3. He keeps machines, materials, tools etc. ready for operations by concerned workers.’ Whose work is described by this sentence under functional foremanship
· Instruction card clerk
· Repair boss
· Gang boss
· Route clerk
4. Which of the following is not a principle of management given by Taylor
· Science, not rule of thumb
· Functional foremanship
· Maximum not restricted output
· Harmony, not discord
5. Management should find ‘One best way’ to perform a task. Which technique of scientific management is defined in this statement?
· Time study
· Motion study
· Method study
· Fatigue study
6. which of the following statements best describe ‘Mental Revolution’
· It implies change in attitude
· The management and workers should play the game of one upmanship
· Both workers and managers require each other
· Workers should be paid more wages.
7. which of the following statements are FALSE about Taylor and Fayol
· Fayol was a mining engineer whereas Taylor was a mechanical engineer.
· Fayol’s principles are applicable in specialized institutions whereas Taylor’s principles have universal application.
· Fayol’s principles were formed through personal experience whereas Taylor’s principles were formed through experimentation.
· Fayol’s principles are applicable at the top level of management whereas Taylor’s principles are applicable at the shop floor level.
Ques16. How is the principle of unity of command useful to managers? Explain briefly.
Ques17. If an organization does not provide the right place for physical and human resources in an organization, which principle is violated? What are its consequences?
Ques18. Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
Ques19. Taylor’s technique of ‘Functional Foremanship’ contradicts Fayol’s principle of ‘Unity of Command.’ Explain the basic difference between the two.
Ques20. What does Fayol say about the extent of centralization and decentralization in an organization?
Ques21. Which principle of management suggests that employees should be treated with justice and kindness?
Ques22. State three reasons why understanding of management principles is necessary?
OR
Explain briefly any three points, establishing the need of management principles.
Ques23. What are the adverse effects of the violation of the following principles? (Give one point each).
Division of work
Unity of command
Remuneration
Order
Stability of tenure
Ques24. Distinguish between:
· Unity of command and unity of direction
· Time study and motion study
· Motion study and Method study
Ques25. Do you agree that Taylor’s principles of scientific management and Fayol’s principles of management are mutually complementary? Give reasons.
Ques26.Explain whether Taylor’s techniques of management are universally applicable giving at least 3 techniques in support of your answer.
Ques27. What role do time study and motion study play in setting the standard task?
Ques28. Explain the meaning of management principles and state how they are derived?
Ques29. Are principles in the form of final truth?
Ques30. ‘Principles of management provide useful insight to managers.’ Clarify with the help of example.
Ques2. Why is it said that management principles are universal?
Ques3. Explain the following principles:
· Equity
· Order
· Remuneration of employees
· Parity of authority and responsibility
· Unity of direction
Ques4. Different techniques were developed by Taylor to facilitate principles of scientific management. One of them is ‘fatigue study’. What is the objective of this study?
Ques5. List any two principles of ‘Scientific Management’ formulated by Taylor for managing an organization scientifically.
Ques6. Name and explain that principle of Fayol which suggests that communication from top to bottom follow the official lines of command.
Ques7. Why is it said that management principles are contingent?
Ques8. Which principle of scientific management suggests that true interest of management and workers are the same?
Ques9. One of the fourteen of management as suggested by Fayol, emphasizes that there should be a team spirit and harmony in work group, name the principle of management and explain it.
Ques10. Name and explain the principle of Fayol which suggests that a subordinate should receive orders from only one superior.
Ques11. Which principle of scientific management suggests the introduction of scientific investigation and analysis of management practices?
Ques12. ‘Management is intangible force.’ Explain.
Ques13. Why is it said that management principles are general guidelines?
Ques14. Chhavi and Nidhi are working in the same organization. They perform similar jobs but they are paid their salaries at different rates. Which principle of management is violated in this situation? Explain.
OR
Hina and Harish are typists in a company having same educational qualifications. Hina is getting Rs.3000/ per month and Harish Rs.4000/ per month as salary for the same working hours. Which principle of management is violated in this case? Name and explain.
Ques15. Multiple choice questions (1 mark)
1. The principles of management are significant because of :
· Increase in efficiency
· Optimum utilization of resources
· Initiative
· Adaptation to changing technology
2. Henry Fayol was a
· Social scientist
· Accountant
· Mining engineer
· Production engineer
3. He keeps machines, materials, tools etc. ready for operations by concerned workers.’ Whose work is described by this sentence under functional foremanship
· Instruction card clerk
· Repair boss
· Gang boss
· Route clerk
4. Which of the following is not a principle of management given by Taylor
· Science, not rule of thumb
· Functional foremanship
· Maximum not restricted output
· Harmony, not discord
5. Management should find ‘One best way’ to perform a task. Which technique of scientific management is defined in this statement?
· Time study
· Motion study
· Method study
· Fatigue study
6. which of the following statements best describe ‘Mental Revolution’
· It implies change in attitude
· The management and workers should play the game of one upmanship
· Both workers and managers require each other
· Workers should be paid more wages.
7. which of the following statements are FALSE about Taylor and Fayol
· Fayol was a mining engineer whereas Taylor was a mechanical engineer.
· Fayol’s principles are applicable in specialized institutions whereas Taylor’s principles have universal application.
· Fayol’s principles were formed through personal experience whereas Taylor’s principles were formed through experimentation.
· Fayol’s principles are applicable at the top level of management whereas Taylor’s principles are applicable at the shop floor level.
Ques16. How is the principle of unity of command useful to managers? Explain briefly.
Ques17. If an organization does not provide the right place for physical and human resources in an organization, which principle is violated? What are its consequences?
Ques18. Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
Ques19. Taylor’s technique of ‘Functional Foremanship’ contradicts Fayol’s principle of ‘Unity of Command.’ Explain the basic difference between the two.
Ques20. What does Fayol say about the extent of centralization and decentralization in an organization?
Ques21. Which principle of management suggests that employees should be treated with justice and kindness?
Ques22. State three reasons why understanding of management principles is necessary?
OR
Explain briefly any three points, establishing the need of management principles.
Ques23. What are the adverse effects of the violation of the following principles? (Give one point each).
Division of work
Unity of command
Remuneration
Order
Stability of tenure
Ques24. Distinguish between:
· Unity of command and unity of direction
· Time study and motion study
· Motion study and Method study
Ques25. Do you agree that Taylor’s principles of scientific management and Fayol’s principles of management are mutually complementary? Give reasons.
Ques26.Explain whether Taylor’s techniques of management are universally applicable giving at least 3 techniques in support of your answer.
Ques27. What role do time study and motion study play in setting the standard task?
Ques28. Explain the meaning of management principles and state how they are derived?
Ques29. Are principles in the form of final truth?
Ques30. ‘Principles of management provide useful insight to managers.’ Clarify with the help of example.
Organising
Organising
Ques1. Define organizing as a function of management.
Ques2. Define the term ‘Organization Structure’.
Ques3. “Delegation of Authority is a process involving authority, responsibility and accountability.” Explain the statement in brief.
Ques4. Sahil ltd. is manufacturing shirt and it has four functions – production, finance, marketing and personnel. Which organization structure the company should adopt? State giving three advantages.
Ques5. Can an overburdened manager take help from his subordinates? How? Explain the three important things that he should keep in mind while taking such help.
Ques6. Define the term ‘Organizing’ and enumerate the steps involved in the process of organizing.
Ques7. “Delegation is based on the elementary principle of divisin of work.” Explain.
Ques8. “The concept of decentralization is related to the concept of delegation.” Explain.
Ques9. Explain the meanings of formal and informal organization. Distinguish between them on the basis of
· Formation
· Leadership
· Behaviour of members
· Flow of communication
· Nature
· Authority
Ques10. “Authority can be delegated but responsibility can not.” Explain.
Ques11. What is ‘Informal organization’? Explain any four features of informal organization.
Ques12. Explain , in brief any six points which highlight the importance of decentralization in an organization.
Ques13. Explain the terms ‘delegation’ and ‘decentralization’, in brief and distinguish between them on the basis of :
· Scope
· Significance
· Freedom of action
· Essentiality
Ques14. One mark questions:
1. A network of social relationship that arises spontaneously due to interaction at work is called
· Formal organization
· Informal organization
· Decentralisation
· Delegation
2. Which of the following does not follow scalar chain?
· Functional structure
· Divisional structure
· Formal organization
· Informal organization
3. A tall structure has a
· Narrow span of management
· No span of management
· Wide span of management
· Less levels of management
4. Centralisation refers to
· Retention of decision making authority
· Creating divisions as profit centers
· Dispersal of decision making authority
· Opening new centers or branches
5. Span of management refers to
· No. of managers
· Length of term for which a manager is appointed
· No. of subordinates under a supervisor
· No. of members in top management
6. Grouping of activities on the basis of product lines is a part of
· Delegated organization
· Divisional organization
· Functional organization
· Autonomous organization
7.
Ques1. Define organizing as a function of management.
Ques2. Define the term ‘Organization Structure’.
Ques3. “Delegation of Authority is a process involving authority, responsibility and accountability.” Explain the statement in brief.
Ques4. Sahil ltd. is manufacturing shirt and it has four functions – production, finance, marketing and personnel. Which organization structure the company should adopt? State giving three advantages.
Ques5. Can an overburdened manager take help from his subordinates? How? Explain the three important things that he should keep in mind while taking such help.
Ques6. Define the term ‘Organizing’ and enumerate the steps involved in the process of organizing.
Ques7. “Delegation is based on the elementary principle of divisin of work.” Explain.
Ques8. “The concept of decentralization is related to the concept of delegation.” Explain.
Ques9. Explain the meanings of formal and informal organization. Distinguish between them on the basis of
· Formation
· Leadership
· Behaviour of members
· Flow of communication
· Nature
· Authority
Ques10. “Authority can be delegated but responsibility can not.” Explain.
Ques11. What is ‘Informal organization’? Explain any four features of informal organization.
Ques12. Explain , in brief any six points which highlight the importance of decentralization in an organization.
Ques13. Explain the terms ‘delegation’ and ‘decentralization’, in brief and distinguish between them on the basis of :
· Scope
· Significance
· Freedom of action
· Essentiality
Ques14. One mark questions:
1. A network of social relationship that arises spontaneously due to interaction at work is called
· Formal organization
· Informal organization
· Decentralisation
· Delegation
2. Which of the following does not follow scalar chain?
· Functional structure
· Divisional structure
· Formal organization
· Informal organization
3. A tall structure has a
· Narrow span of management
· No span of management
· Wide span of management
· Less levels of management
4. Centralisation refers to
· Retention of decision making authority
· Creating divisions as profit centers
· Dispersal of decision making authority
· Opening new centers or branches
5. Span of management refers to
· No. of managers
· Length of term for which a manager is appointed
· No. of subordinates under a supervisor
· No. of members in top management
6. Grouping of activities on the basis of product lines is a part of
· Delegated organization
· Divisional organization
· Functional organization
· Autonomous organization
7.
Financial Markets
Important things to know:
- Private placement is same as preferential placement.
Market value in Private placement is determined through negotiation between the company and the investors under the guidance of SEBI.\ - OTCEI is non functional.
- Protective function of SEBI given in the new NCERT.
- Every Friday – RBI statement is prepared. If balance
<>Call Rate- Rate of interest paid on call money loans. (Inter bank Rate). - PLR (Primary lending rate) Rate of interest at which banks primarily lend loans(depends on risk)
- REPO Rate – Rate of interest at which RBI repurchases the central government’s, dated (date of maturity is mentioned on it), securities through auction. It was introduced in 1992. Banks do this to improve their liquidity.
- Reverse REPO Rate – Rate of interest at which RBI sells dated central government securities through auction.
- SLR (statutory liquidity ratio) Proportion of time deposits into liquid assets.
- Bank rate – rate of interest at which RBI rediscounts the bills of commercial banks. (Short term loans).
Money market instruments
- Treasury Bills (T-Bills)
- Meaning These are short term promissory notes which are issued by RBI on behalf of the government of India at a discount.
- Use These are used to meet short term requirements of funds.
- Period They are issued for a period of 14-365 days.
- Amount They are issued for a minimum amount of Rs.25000 and in multiples thereof.
- Negotiability These are freely negotiable instrument and are transferred by endorsement or by delivery.
- Safety These are considered to be safe.
2. Commercial Papers (CP)
- Meaning These are unsecured promissory notes which are issued by a corporate with a fixed maturity period.
- Use These are used to raise short term funds at a lower rate than the market rate.
- Period They are issued for a period of 15days to one year.
- Negotiability These are freely negotiable instrument and are transferred by endorsement or by delivery.
- Safety These are not safe and so issued by sound reputed corporate enterprises.
CP may also be issued to meet the floatation costs. this is known as Bridge Financing.
3. Call Money
- Meaning it is a short term finance repayable on demand, which is used for inter bank transfer.
- Use These are used to provide for temporary shortages of cash to maintain cash reserve ratio and to meet unforeseen demand of funds.
- Period They are issued for a period ranging from 1 to 15 days.
- Amount it is basically over the phone market which is use by banks to fulfill their temporary shortages of cash. The banks which have surplus cash are usually the lenders.
- Negotiability These are freely negotiable instrument and are transferred by endorsement or by delivery.
4.Certificate of Deposit (CD)
- Meaning These are short term unsecured negotiable instruments in a bearer form, issued by commercial banks and financial institutions.
- Use These are used to meet mobilize large amount of money for short periods.
- Period They are issued for a period of 14-365 days.
- Negotiability These are freely negotiable instrument and are transferred by endorsement or by delivery.
- Safety These are considered to be safe.
5. Commercial Bills
- Meaning A bill of exchange is an instrument in writing containing an unconditional order signed by the maker directing a certain person to pay a certain sum of money.
- Period They are issued for a period of 90days.
- Negotiability These are freely negotiable instrument and are transferred by endorsement or by delivery.
- Liquidity Although they are self liquidating as the drawee is to honor them on the date of maturity, yet these can be discounted with the bank before the date of maturity.
Consumer protection
Que.1. Who is a Consumer? Can anybody else besides consumer file a complaint?
Ques2. Explain the role of consumer organisations ans NGO's in protecting and promoting the consumers' interests.
Ques3.Discuss the ways and means available to a consumer for protecting his rights.
Ques4. What are the relief and remedy available to a consumer against any sort of unfair and exploitative trade practice?
Ques2. Explain the role of consumer organisations ans NGO's in protecting and promoting the consumers' interests.
Ques3.Discuss the ways and means available to a consumer for protecting his rights.
Ques4. What are the relief and remedy available to a consumer against any sort of unfair and exploitative trade practice?
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