Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
In the above case, Ashita produces the required number of bracelets within the stipulated time at total cost of Rs. 55,000. Here Ashita works effectively as she completes the task in a given period of time. But she is not efficient as she spends Rs 5,000 more whereas she should spend Rs. 50,000 on production. In other words she spent Rs. 110 on production of one bracelet instead of Rs. 100. So, Ashita is effective but not efficient.
And Lakshita produces 450 bracelets at the cost of Rs. 90 per bracelets. Here Lakshita is efficient because she saves Rs. 10 on each unit of bracelets. She reduces the cost of production which leads to making more profit. But she is not effective as she is not able to produce the required number of bracelets in a given period of time which leads to delay in delivery of the bracelet. So, Lakshita is efficient but not effective.
Why is management considered to be a multi-dimensional concept?
Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6 trailer coaches and is expected to save about 21,000 liters of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.
Management is a series of continuous interrelated functions. Comment.
List any two indicators of growth of an organisation.
Coordination is the essence of management. Do you agree? Give reasons.
Company X is facing a lot of problems these days. It manufactures white goods like washing machines, microwave ovens, refrigerators and air conditioners. The company’s margins are under pressure and the profits and market share are declining. The production department blames marketing for not meeting sales targets and marketing blames production department for producing goods, which are not of good quality meeting customers’ expectations. The finance department blames both production and marketing for declining return on investment and bad marketing. State the quality of management that the company is lacking? What quality of management do you think the company is lacking? Explain briefly. What steps should the company management take to bring the company back on track?
A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?
Ritu is the manager of the northern division of a large corporate house. At what level does she work in the organisation? What are her basic functions?
A firm plans in advance and has a sound organisation structure with efficient supervisory staff and control system but on several occasion it finds that plans are not being adhered to. It leads to confusion and duplication of work. Advise remedy.
Management is considered to be both an art and science. Explain.
How does planning provide direction?
What is meant by staffing?
Identify the network of social relationships which arises spontaneously due to interaction at work.
What is informal communication?
State the meaning of controlling.
What is meant by capital structure?v
What is a Treasury Bill?
State any two advantages of branding to marketers of goods and services?
What makes principles of management flexible?
Under which consumer right does a business firm set up consumer grievance cell?
In an organisation, one of the departmental manager is inflexible and once he takes a decision, he does not like to be contradicted. As a result, employees always feel they are under stress and they take least initiative and fear to express their opinions and problems before the manager. What is the problem in the way authority is being used by the manager?
Explain the various steps involved in the process of control.
Explain the elements of communication in directing.
Explain Taylor’s concept of 'Mental Revolution' and its relevance today.
Explain the recent Capital Market reforms in India.
Why is controlling considered a backward-looking function?
The workers of a factory remain idle because of lack of knowledge of hi-tech machines. Frequent visit of engineer is made which causes high overhead charges. How can this problem be removed. (vestibule training)
What are the major components of the business environment?
Explain the principle of ‘Scalar Chain’ and gang plank.
Explain the concept of formal and informal organization with their significance.