Principles of Management 2 Mark Questions 1. Definition 0f management? Management is the art and science of getting work done through people. It is the process of giving direction and controlling of various activities of people to achieve the objectives of organization. KOONTZ & WEIHRICH “Management is the process of designing and maintaining of an environment in which individuals working together in groups effectively accomplish selected aims”. F.W.TAYLOR “Management “Management is the art of knowing what do you want to do and then seeing that is done in the best cheapest way”.
2. Skills needed for managers: Technical skill 1. It refers to the ability ability to the tools, equipment equipment procedure procedure and techniques. techniques. 2. Effe Effect ctiv ive e supe superv rvis isio ion n and and co-o co-ord rdin inat atio ion n of the the work work a grou group p mem members bers or subordinates. Human skill 1. It refers refers to the ability ability of the manage managerr to work effectiv effectively ely as a group group members members and to build co-operative effort in team leaders. 2. Needed Needed to underst understand and people. people. Conceptual skill 1. It is also called called as as design design and problem problem 2. To see the organizatio organization n and the various various component component of it as as whole 3. To understand understand how its various parts parts and functions mesh together together
3. Different approaches of management 1. Syst System em appr approa oach ch 2. Conti Continge ngenc ncy y appr approac oach h
System approach Introduction Like Like a huma human n organ organism ism an organ organiza izatio tion n in a system system.. In an organ organiza izatio tion n also also people task and management are independent.
System concepts System theory was first applied in field of science and engineering. Contingency approach The Contingency approach is called as situational approach. It is developed by managers, consultant and researchers who tried to apply for real life situation. Some management concepts are different and are very effectively in one situation. The same concept is failed in another situation. Results or solutions differ because situations differ.
In this approach the managers identify which is suitable technique for a particular solution. Particular environment of the organization at a specific time.
4. Comparison between art and science. Science: It is a systematic body of knowledge with array of principles. Art: 1. It is the applica application tion of skill skill in finding finding desired desired result results. s. 2. Managem Management ent is is both both scien science ce and and art: art: 3. It contains contains general general principl principle e 4. It also an art because because it require require certain certain personal personal skills to achieve achieve desired desired result.
5. Functions of management 1. Planning 2. Organiz aniziing 3. Staffing 4. Co – ordi ordina nati ting ng 5. Cont Contro roll llin ing g
6. Management level and functions. 1. Top-l Top-lev evel el mana managem gemen entt 2. Middle Middle level level mana manage geme ment nt 3. Lower Lower level level mana manage geme ment nt Top level management functions 1. To formulat formulate e goals goals and policies policies 2. To formu formulat late e bud budget gets s 3. To appo appoint int top top exe execut cutive ives s Middle level management functions. 1. To train train motives motives &dev &develop elop super superviso visory ry level level 2. To monitor monitor and and control control the operat operation ions s performa performance nce Low level management 1. To tra train in &dev &develo elop p work workers ers 2. To assi assign gn job job 3. To give orders orders and instruct instructions ions 4. To report report the the inform informatio ation n about about the worke workers rs
7. What to you mean by social responsibility& social responsiveness. Corporate social responsibility is seriously considering the impact of the company’s action on society. Social responsiveness responsiveness means “the ability of a corporation corporation to relate its operations operations & policies to the social environment in ways that are mutually beneficial to the company and to society.
8. What is institutionalizing ethics& how it can be accomplished? Institutionalizing ethics means applying & integrating ethical concepts in to daily actions. This can be accomplished in three ways. 1. By establishing establishing appropriate appropriate company company policy policy or a code of ethics ethics 2. By using using a formally formally appo appointe inted d ethics ethics committe committee e 3. By teaching teaching ethics in manageme management nt developm development ent programs programs
9. What is ethics? What are the types of ethics explain? Ethics is defined as the discipline dealing with what is good & bad and with moral duty & obligation. The three types of ethics are. Personal ethics: The rules by which an individual lives his or her personal life. Accounting ethics: The code that guides the professional conduct of accountants. Business ethics: Concerned with truth& justice & has a variety of aspects such as expectations of society. society. Fair competi competition tion,, advertis advertising, ing, public public relation relations, s, social social respons responsibil ibility, ity, consum consumer er autonomy & co-operate behavior.
10. What are the arguments against the social involvement of business? 1. Social Social involveme involvement nt may reduce reduce economic economic efficie efficiency. ncy. 2. Socia Sociall involv involvem ement ent would would crea create te excess excessive ive costs costs for for busin busines ess, s, which which canno cannott commit its resources for social action. 3. Social involvement involvement can weaken the internation international al balance balance of payment. payment. 4. it may leads leads to the the hike in prices prices of of the commod commoditie ities s 5. Incomplete Incomplete support support for involvement involvement in social social action &&disagre &&disagreement ement among among groups groups will cause friction. 6. There is a link of accountability accountability of of business business to to society. society.
11. What is tows metrics? The tows metrics is a conceptual frame work for a systematic analysis, which facilitates matching the external threats and opportunities with the internal weakness & stren strengt gth h of the the organ organiza izatio tion. n. In the tows tows metri metrics cs ‘T’ stan stands ds for for threa threat’s t’s’’ stand stands s for opportunities ‘W’ for weakness and ‘S’ for strength.
12. Defining planning premises? Planning premises are defined as the anticipated environment in which plans are expec expecte ted d to opera operate. te. They They includ include e assum assumpti ptions ons or forec forecast asts s of the the futur future e & know known n conditions that will effects the operation of plans.
13. List out the social responsibilities of managers?
Responsibilities towards share holders.
Responsibilities towards employees
“
“
“
government
“
“
suppliers.
“
“ competitors
“
“ general public
“
creditors
14. What is social audit? Social audit involves a commitment to systematic assessment of the company’s main activities that have a social impact reporting to the society on relevant issues. Every voluntary social program ends with a social audit social encompasses every possible area, such as pollution control, training & development promotion of minorities & so on.
15. Define code of ethics? A code is a statement of policies, principles or rules that guide behaviors codes of ethics should guide the behavior of persons in all organizations & in every day of life.
16. List out the functions of ethics committee 1. Holding Holding regular regular meetin meeting g to discuss discuss ethical ethical issues issues.. 2. Deali Dealing ng with with ‘gray ‘gray are areas’ as’ 3. Communicating Communicating the code code to all members members of organizatio organization. n. 4. Checkin Checking g for possi possible ble violat violation ions s of the code code 5. Enfo Enforc rcin ing g the the code code..
17 what is planning? Planning is a process of selecting the objectives & determining the course of action required to achieve these objectives.
18. Important observations subjected about planning? 1. Planning is obtaining obtaining a future future course course of action action in order order to achieve achieve an objective. objective. 2. Plann Planning ing is is looki looking ng ahe ahead. ad. 3. Planning Planning is gettin getting g ready to do somet something hing tomorr tomorrow. ow. 4. Plan is is a trap laid laid down down to to capture capture the the future. future.
19. Define mission? Mission may be defines as a statement which defines the role that an organization plays in the society.
20. Define policies? Polic Policies ies are gener general al state stateme ment nt or unde underst rstand anding ing which which provi provides des guida guidance nce in decisions making to various managers.
21. Explain in brief about the two approaches in which the hierarchy of objectives can be explained? There are two approaches in which the hierarchy can be explained. 1. top-down approach 2. bottom-up approach in the top-down approach, the total organization is directed through corporate objective provided by the top-level management. In the bottom up approach, the top level management needs to have information from lower level in the form of objectives.
22. Advantages of objectives: 1. Unif Unifie ied d pla plann nnin ing g 2. Defin Defining ing an org organ aniza izatio tion n 3. Dire irectio tion
4. Indivi Individua duall mot motiva ivatio tion n 5. Basis Basis for for dece decentr ntrali alizat zation ion 6. Basi Basis s for for cont contro roll 7. Co-o Co-ord rdin inat atio ion n
23. Steps involved in MBO process: 1. setting setting prelimi preliminary nary objecti objectives ves 2. fixin fixing g key key res result ult areas areas 3. setting setting subordi subordinate nates s objec objective tives s 4. matchin matching g resour resources ces with objectiv objectives es 5. recycl recycling ing objec objectiv tives es 6. Periodic Periodic resource resources s with with object objectives ives.. 7. Appra praisa isal
24. features of MBO: 1. MBO tries tries to combin combine e the long long range range goals goals of organ organiza izatio tion n with with short short range range of organization. 2. MBO involves involves participation participation of subordinate subordinate managers managers in the goal goal setting process. process. 3. MBO increase increase the organizatio organization n capability capability of achieving achieving goals. 4. MBO’S emphasis emphasis is is not only on goals but also on on effective effective performance. performance.
25. Definitions of MBO: According to GEORGE ODIORNE,”MBO is a process where by the superior and the subordinates managers of an enterprise jointly identify its common goals, define each individuals major areas of responsibility in terms of results expected of him, and use these measures as guides for operating the unit and assessing the contribution of each of its members”. KOONTZ &WEIHRICH have defines MBO as follows: “MBO is comprehensive managerial system that integrates many key managerial activities in a systematic manner & that is consciously directed towards the effective and efficient achievement of organizational and individual objectives.
26. Define strategy? A strate strategy gy may may be defin defined ed as speci special al type type of plan plan prep prepare ared d for meeting meeting the challenges posted by the activities o competitors and other environment forces.
27. Steps involved in strategic planning: 1. Missi Mission on and and obje object ctive ives. s. 2. Envir Environm onmen enta tall analy analysi sis s 3. Corp Corpor orat ate e analy analysi sis s 4. Identifi Identificati cation on of alternat alternatives ives.. 5. Strat Strateg egic ic decis decision ion mak making ing 6. Impleme Implementat ntations ions review review & contro control. l.
28. State the characteristic of a sound policy? 1. Relation Relationship ship to organi organizati zational onal object objectives ives.. 2. Clar Clarit ity y of of pol polic icy y 3. A policy policy is a guide guide to to thinkin thinking g in decisio decision n making making 4. Polic Policies ies sho should uld be be writt written en 5. Commu Communic nicati ation on of poli policie cies s 6. Balan Balance ce of polic policies ies.. 7. Plann Planned ed formu formulat lation ion..
29. List out the steps involved in formulation of policies: 1. Defin Defining ing the polic policy y area area 2. Defining Defining of policy policy alter alternati natives ves.. 3. Evaluati Evaluation on of of policy policy alternat alternative ives. s. 4. Choi Choice ce of poli policy cy 5. Commu Communic nicati ation on of of polic policy y 6. Imple Impleme menta ntatio tion n of pol policy icy 7. Revi Review ew of poli policy cy
30. Name the classification of planning premises? 1. Intern Internal al and and ext extern ernal al 2. Tangible Tangible and intangi intangible ble premises premises.. 3. Control Controllabl lable e and uncont uncontroll rollable able prem premises ises 31. State the importance of HRM?
1. To achieve achieve competitive competitive advantage advantage over over other other organisation. organisation. 2. To improve improve the the efficie efficiency ncy of the the organisa organisation tion.. 3. For the the fuller fuller utilizat utilization ion of availa available ble resour resources. ces. 4. Cost effectiv effective e admin administr istratio ation. n.
32. State the importance of staffing:1. It helps helps to make use use of the Organisa Organisation tional al resourc resources. es. 2. It provides provides effective effective and and efficient efficient personals personals to the organisation organisation.. 3. Helps Helps to discover discover talent talented ed and compet competent ent persons persons.. 4. Helps Helps to ensure ensure uninter uninterrupt rupted ed flow flow of busines business. s.
33. Advantages of Organisational Chart:1. It shows shows the overvi overview ew of staffin staffing g in organisa organisation tion.. 2. The manag manager er ready ready for promot promotion ion can can be identifi identified. ed. 3. Helps Helps to predict predict future future internal internal supply supply of manag managers. ers. 4. Helps in transfer of manager manager internally internally to to strengthen strengthen weak weak areas. areas.
34. List some factors affecting span of control 1. Subordin Subordinates ates training training require requiremen ment. t. 2. Clarity Clarity of of delega delegatio tion n of authori authority. ty. 3. Clar Clarit ity y of of pla plans ns.. 4. Use of objec objective tives s and and stand standards ards..
35. Cross Relationship
It arises because of mutual interaction of subordinates working under common superior normally they are assuming this to be 6.
36. Classification of power 1. The The leg legiti itima mate te power power 2. Expe Expert rt pow power 3. Refe Refere renc nce e pow power er 4. Rewa Reward rd powe power r
37. Define Decision Making Deci Decisi sion on Maki Making ng is defi define ned d as sele select ctio ion n of a cour course se of acti action on from from amon among g alternatives. It is a core of planning. A plan cannot be said to exist unless a decision – a commitment of resources, direction or reputation has been made. Until that point, there is only planning studies and analysis.
38. What are the three approaches in selecting an alternative? 1. Exper perien ience 2. Expe Experi rime ment ntat atio ion n 3. Resear Research ch and Analy Analysis sis
39. Define Decision trees? The best way to analyze a decision is by means of decision trees. In a decision tree, the various chance events, decision points and probabilities involved in various courses that might be undertaken are represented in the form of a ‘tree’. The decision tree approach makes it possible to see the major alternatives and facts that subsequent decision may depend upon.
40. Need of Departmentisation:Specialisation of works and the limitation of number of subordinates that can be directly controlled controlled by superior. superior. If there is no departmentisatio departmentisation n there is a serious limitation of size of the organisation.
41. What is Departmentisation? Departmentisation is a process of grouping the activity based on its similarities.
42. What are the types of Departmentisation 1. By sim simpl ple e numb number ers. s. 2. Depar Departm tment entisa isatio tion n by time. time. 3. Departm Departmenti entisati sation on based based on on enterpr enterprise. ise. 4. Classification Classification based on territory territory or geographic geographical al area. area. 5. Departm Departmenti entisati sation on by product products. s. 6. Custome Customerr Departm Departmenti entisat sation. ion. 7. Market Market orien oriented ted Depa Departme rtmentis ntisatio ation. n. 8. Proce Process ss or Equipm Equipment ent..
43. What are the three basic approaches to select among alternatives? 1. Exper perien ience 2. Expe Experi rime ment ntat atio ion n 3. Resear Research ch and Analy Analysis sis
Experience: Relying on post experience, the choice among alternatives is selected to avoid mistakes. Experimentation: A firm may test a new product in a certain market before expanding its sale nationwide. Research and Analysis: The trend in research and analysis is simulation i.e. to develop mathematical tools.
44. What is cost Effectiveness Analysis? Cost effectiveness Analysis is a technique for choosing the best plan when the objectives are less specific than sales costs or profits. It means finding the least costly
way of reaching an objective or getting the greatest value for giving experiences. It is also called as Cost Benefit Analysis.
45. What is the principle of limiting factor? Principle of limiting factor is given as “By recognizing and overcoming those factors that stand critically in the way of a goal, the best alternative course of action can be selected”.
46. Define Organising? Organising is an activity involves in analyzing the nature of job to be performed grouping them, dividing into departments, divisions selections and that can be assigned to various individuals and delicate authority to carry out the task.
47. Define Decentralisation? The tendency to discuss the decision making in an organisation structure. The fundamental aspect of Decentralisation is delectation of authority.
48. Advantages of Decentralisation? 1. It is a big big relief relief to top top mana managers gers.. 2. It encou encourage rages s the the decisi decision on makin making. g. 3. It promotes promotes the the develop developmen mentt of general general manag manager. er. 4. Facilita Facilitates tes prod product uct diver diversif sificat ication. ion.
49. Define Scalar Principle:The The clear clear the the line line of auth authori ority ty from from the the ultima ultimate te manag managem ement ent posit positio ion n in an enterprise to every subordinate position the clear will be the responsibility for decision making and the more will be effective will be the organisation communication.
50. Define Policy
Policy of Decentralisation affects all area of management and it can be looked upon an essential element of managerial managerial system. Managers could not use the discursion to handle the ever changing situation they face.
51. What is Organisation Structure? In organisation structure simply by means the systematic arrangement of people work working ing for the the organ organisa isati tion. on. The The organi organisa satio tion n is conce concern rned ed with with estab establis lishm hment ent of positi positions ons and relat relation ionsh ship ip betw between een positi position ons. s. The The organ organisa isatio tion n struct structure ure has two two dimensions. 1. Horizo izonta ntal 2. Vertical
52. What do you mean by Organisation Culture? It is the general pattern of behavior norms shared beliefs and values there are unique for organisation. It is fairly stable and does not change fast. It often sets the tone for the the comp compan any y and and estab establis lishe hes s impli implied ed rules rules for for the the way way peopl people e should should behav behave. e. Organisation culture even influences how individuals behave at work and hence will affect both individual and Organisational performances.
53. Benefits of Decentralization:1. Gives managers managers more freedom freedom and and independence independence in decision decision making. making. 2. It encourages encourages decision decision making making and assumption assumption of authority authority and and responsibility. responsibility. 3. Aids in adopt adoption ion to fast fast changin changing g environm environment ent.. 4. Promotes Promotes devel developm opment ent of genera generall managers managers.. 5. Facilita Facilitates tes produ product ct Diver Diversifi sificati cation. on. 6. Promotes establishment establishment and and use of broad broad controls controls which which may increase increase motivation. motivation.
54. Uses of Organisation Chart 1. The organisation organisation chart chart pinpoints pinpoints the weakness weakness of an organisation organisation.. This will will helps to overcome the short coming of organisation.
2. It tells quickly who is is responsible responsible for particular particular function. 3. It is useful useful in showing showing nature nature of an organisatio organisation n and changes changes if any in the existing existing staff and new comers.
55. What are the types of Departmentation? 1. Departm Departmenta entation tion by simp simple le numbe numbers. rs. 2. Depar Departm tment entati ation on by by Time Time.. 3. Departm Departmenta entation tion by by Enterpr Enterprise ise functi function. on. 4. Departm Departmenta entation tion by Terri Territory tory or or Geograp Geography. hy. 5. Custo Custome merr Depar Departm tment entati ation. on. 6. Process Process or Equipme Equipment nt Depart Departmen mentati tation. on. 7. Depar Departm tment entati ation on by produc product. t.
56. Distinguish between authority and power Power is the ability of individuals or groups to induce r influence the belifs or actions of other persons or groups. Authority in organisation is the right in a position to exercise discretion in making decisions and affecting others.
57. What are the different bases of power? 1. Legi Legiti tima mate te Powe Power r 2. Refe Refere rent nt Powe Power r 3. Rewa Reward rd Pow Power 4. Coer Coerci cive ve Powe Power r
58. Scalar Principle
The The clear clear the the line line of auth authori ority ty from from the the ultima ultimate te manag managem ement ent posit positio ion n in an enterprise to every subordinate position, the clearer will be responsibility for decision making and the more effective will be the organisation communication.
59. Functional Authority It is the right right which which is delega delegated ted to an indiv individ idual ual or a depar departm tmen entt to contro controll specified processes practices, policies or other matters relating to activities, undertaken by persons in other departments.
60. Limitations of staff:1. Danger Danger of of undert undertakin aking g line line author authority ity 2. Lack Lack of staf stafff respon responsib sibili ility ty 3. Thin Thinki king ng in in a vacu vacuum um 4. Manag Manageri erial al proble problems ms
61. State any two merits of equity theory: 1. This theory theory makes managers managers realize realize that that equity motive motive tends to to be one of the the most important motives of the people in the organisation. 2. Feelings or or perceptions perceptions in equity equity are important important factor factor in work setting. setting. Management Management should take necessary steps to develop the perceptual skill of the people.
62. Mention the various factors involved in using motivational techniques: 1. Money 2. Part Partic icip ipat atio ion n 3. Quali Quality ty of of work working ing life life
63. What is job enrichment? Job enrichment is therefore based on the assumption that in order to motivate personne personnel, l, the job itself itself must provide provide opportu opportuniti nities es for the achievem achievement, ent, recognit recognition, ion, responsibility, advancement and growth.
64. What are the limitations of job enrichment? 1. Job enrichment enrichment is based based on the the assumption assumption that workers want want more more responsibility. responsibility. But, in practice, most of the workers may prefer less responsible jobs with good social interaction. Such workers may show feelings of inadequacy and fear of failure to job enrichment. 2. Some Some jobs canno cannott be enriche enriched d beyond beyond a certain certain point. point.
65. Give the required guidelines to make effective job enrichment. 1. Use job enrichmen enrichmentt selectiv selectively ely after taking taking into account account situationa situationall variable variables s such such as job characteristics, personal characteristics of employees, Organisational level etc. 2. Provide a supportive supportive climate for innovation innovation and change. change.
66. Who is a leader? Leader is one who makes his subordinates to do willingly what he wants.
67. Define Leadership Leaders Leadership hip is the process process of influen influencing cing the behaviou behaviourr of others others towards towards the accomplishment of goals in a given situation.
68. Mention the importance of Leadership 1. Motiva Motivatin ting g Emplo Employe yees es 2. Leader Leader deve develop lops s team team wor work k 3. Better Better utilizat utilization ion of manpow manpower er 4. Creatin Creating g confi confiden dence ce to follo followers wers 5. Direc Directin ting g group group activ activiti ities es 6. Buil Buildi ding ng mora morale le 7. Mainta Maintaini ining ng discip disciplin line e
69. State something about weakness of trait theory
1. There is no no universal universal list of traits traits of successful successful leaders. leaders. It is therefore therefore;; very difficult difficult to indicate what mix of traits is necessary to make an affective leader. Individuals who who never never achiev achieve e leader leadersh ship ip also also poss possess ess some some of the traits traits as succe success ssful ful leader. 2. Resear Researche chers rs simply simply provid provide e the list of quali qualiti ties. es. They They fail fail to give the scale scale to measure the qualities. It is not clear how high a score a person must achieve an a given trait to make it effective.
70. State House’s path – goal approach Leaders are effective because of the influence on followers motivation, ability to perform and their satisfaction.
71. Name the various leadership styles. 1. Autocrat Autocratic ic or Dictator Dictatorial ial leader leadership ship 2. Particip Participativ ative e or Democ Democrati ratic c leadersh leadership ip 3. Laissez Laissez – faire faire or Free Free – rein rein lead leadersh ership ip
72. What are the advantages of democratic leadership? 1. The subordinates subordinates are are motivated motivated by participation participation in decision decision – making making process. process. This will also increase job satisfaction 2. Absence Absence of of leader leader does does not not affect affect output output 3. Labour Labour absent absenteeis eeism m and turn turn – over will will be minimu minimum m 4. The quality quality of of decisi decision on is is improv improved ed 5. The leader leader multiplies multiplies his abilities abilities through through the contribution contribution of his followers
73. What is Laissez – faire? Complete Complete freedom is given to the subordinates subordinates so that they plan, motivate, control and otherwise be responsible for their own actions.
74. What is Communication? Communication is passing of information from one person to another person.
75. Mention the various elements in the process of communication 1. Sender 2. Commu Communic nicati ation on Cha Channe nnels ls 3. Symbols 4. Receiver 5. Noise Noise and and feedba feedback ck in commun communicat ication ion
76. List the different types of communication flow 1. Down Downwar ward d Commu Communic nicati ation on 2. Upwa Upward rd commu communic nicati ation on 3. Horizon Horizontal tal or or Lateral Lateral Commun Communicat ication ion
77. Note down the various communication networks 1. Simp Simple le Chai Chain n 2. Wheel 3. Circular 4. Free flow 5. Inve nverte rted V
78. Differentiate Single and Multiple channel networks S. No. 1.
Sin Single gle Chan Channe nell Comm Commun unic icat atio ion n
Mult Multip iple le Chan Channe nell Comm Commun unic icat atio ion n
The Co Communication is is al allowed on on on only
The communication is allowed in more
one path is called as line authority. It is
than one path.
simp simply ly refe referr rred ed as thro throug ugh h 2. 3. 4.
prop proper er
channel. Communication flow is slow Easy to maintain orderly in nature Miscommunication is reduced
Communication flow is faster Potential problems may occur Miscommunication in increased
79. Creativity refers to what? Ability and power to develop new ideas.
80. What are the types of motivation? 1. Posit Positiv ive e Motiv Motivati ation on 2. Negat Negative ive Motiva Motivatio tion n 3. Extri Extrinsi nsic c Motiva Motivati tion on 4. Intrin Intrinsic sic Motiva Motivatio tion n
81. Define Budgeting control? A Budgeting control is defined as "a financial or quantitative statement, prepared and approved prior to a defined period of time, of time policy to be pursued during the period for the purpose of attaining a given object.
82. What is meant by Management Audit? Management Audit is a systematic evaluation of the functioning, performance and effectiv effectivenes eness s of manage management ment of an organiz organizatio ation. n. It is a thorough thorough-go -going, ing, critical critical and constructive review of the quality of management.
83. What is PERT and CPM? PERT PERT is an event-or event-orient iented ed network network becaus because e emphasi emphasis s is given given on importa important nt stages of completion task rather than the activities required to be performed to reach to a particular event or task. PERT is normally applied to projects of non-repetitive nature. CPM can be applied in an environment of certainty. It is deterministic. And is suitable for establishing a trade-off for optimum balancing between schedule time and cost of the project.
84. What do you mean by the word Productivity? Productivity is the ratio of output to some or all there sources used to produce the output.
85. What do you mean by Quality Circle? Quality Circles consists of a small homogeneous group of people doing similar work, who voluntarily voluntarily meet together together regularly regularly about an hour per week week in paid time under the leadership of their own supervisor to identify, analyze and solve a problem.
86. What do you mean by Control? Control is intended to ensure and make possible performance of planned activities and to achieve the predetermined goals and results.
87) Define Budgetary Control? According to ICMA, England "Budgetary Control is the establishment of budgets relating to the responsibilities of executives to the requirements of a policy and the continuous comparison of actual with the budget to provide a basis for its revision.
88. List out the various kinds of budget? 1) Functional Budget 2) Master Budget 3) Fixed Budget 4) Flexible Budget 5) Zero-base Budget
89. What do you mean by Master Budget? A Master Budget is the summary budget incorporating all functional budgets. It is prepared with a view to coordinate the activities of various functional departmental.
90. What do you mean by Zero-base budgeting? Zero-base budgeting is the latest technique aimed at cost reduction and optimum realization of resources.
91. What is Feed Forward Control?
Feed Forward Control involves evaluation of input and corrective measures before a particular sequence of operation is completed. It is based on timely and accurate information about changes in the environment.
92. What is Concurrent Control? Concurrent Concurrent Control is also known as "real-time" or steering" control. control. It provides for taking corrective actions or making adjustments while the programmes is still in operation and before any major damage occurs.
93. List out the important features of controlling? a) Function of Management. b) Continuous function c) Future -oriented and d) Action-oriented.
94. What is Flexible Budget? Flexible Budget is one which is designed to change in accordance with the level of activity actually attained. It is suitable when the estimation of demand is uncertain and the enterprise works under conditions of lack of material and labor power.
95. What are the benefits of control? 1. Contr Control ol elimi elimina nates tes action actions s which which deviat deviate e or which which is not not in conform conformity ity with the cherished goals of the firm. 2. It offers enough information information for future planning and Organising Organising..
96. List out the characteristics of Control function? 1) Functional Management 2) Continuous function 3) Future-oriented 4) Action-oriented 5) Measuring the performance and
6) Planning the control
97. What if Production? Production is defined as the step by step conversion of one form of material into another form through manual, mechanical or chemical process to create or enhance the utility of the product to the user.
98. What is production management? Producti Production on managem management ent is the process process of planning planning,, Organis Organising ing directin directing g and contr control ollin ling g produ producti ction on activ activiti ities es of an orga organis nisati ation on for the the actua actuall transf transform ormat ation ion of elements of input into marketable finished goods services.
98. What are the basic steps involved in the process of controlling? 1 establishment of standards 2 measurement of performance 3 comparing performance with the slandered 4 taking corrective action
99. 99.
What What are are
the the
diff differ eren entt
tech techno nolo logi gies es base based d
prod produc ucti tivi vity ty impr improv ovem emen entt
techniques? a) CAD b) CAM c) CIM d) Robotics e) Laser technology f) Energy technology.
100) what is value engineering? value value analy analysis sis is also also calle called d value value engin enginee eerin ring g is basic basical ally ly a cost cost reduc reductio tions ns technique which is the organisation and systematic study of every element of cost in a part, material or service to make certain fulfills its functions at the lowest cost.
