‘An effort to control everything may end up in controlling nothing.’ Explain.
If a manager tries to control everything, he may end up by controlling nothing. To make control effective and economical, it must focus attention on factors critical to performance. Thus, in this context, it is stated that managers should first handle the deviations, which are beyond the specific range and he should not waste time and energy in finding solutions of minor deviations. e.g. 2% increase in labour cost is acceptable range of deviation. If the labour cost exceed beyond 2%, immediate action should be taken. In a large organisation, keeping a close check on each and every activity will be very time consuming and expensive.
Therefore, managers should pay serious attention to only such cases, which are critical to success, i.e. KRAs.
Popular Questions of Class 12 Business Studies
- Q:-
What are the steps taken by management in the planning process?
- Q:-
Why is management considered to be a multi-dimensional concept?
- Q:-
Explain the procedure for selection of employees.
- Q:-
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
- Q:-
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.
- Q:-
The government of India announced Demonetization of ₹ 500 and ₹ 1,000 currency notes with effect from the midnight of November 8, 2016. As a result, the existing ₹ 500 and ₹ 1,000 currency notes ceased to be legal tender from that date. New currency notes of the denomination of ₹ 500 and ₹ 2,000 were issued by Reserve Bank of India after the announcement.
This step resulted in a substantial increase in the awareness about and use of Point of Sale machines, e-wallets, digital cash and other modes of cashless transactions. Also, increased transparency in monetary transactions and disclosure led to a rise in government revenue in the form of tax collection.
a. Enumerate the dimensions of the business environment highlighted above.
b. State the features of Demonetization. - Q:-
Define scientific management. State any three of its principles.
- Q:-
Explain the qualities of a good leader? Do the qualities alone ensure leadership success?
- Q:-
Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
- Q:-
Management is a series of continuous interrelated functions. Comment.
Recently Viewed Questions of Class 12 Business Studies
- Q:-
How does informal organisation support the formal organisation?
- Q:-
Name the concept of financial management which increases the return to equity shareholders due to the presence of fixed financial charges.
- Q:-
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?
- Q:-
What are the essential features of:
a. Liberalisation,
b. Privatization and
c. Globalisation? - Q:-
Why is it that organisations are not always able to accomplish all their objectives?
- Q:-
A company wants to increase its market share from the present 10% to 25% to have a dominant position in the market by the end of the next financial year. Ms Rajni, the sales manager has been asked to prepare a proposal that will outline the options available for achieving this objective. Her report included the following options - entering new markets, expanding the product range offered to customers, using sales promotion techniques such as giving rebates, discounts or increasing the budget for advertising activities. Which step of the planning process has been performed by Ms Rajni?
- Q:-
“A successful enterprise has to achieve its goals effectively and efficiently.” Explain.
- Q:-
State the basic features of management as a profession.
- Q:-
Management is considered to be both an art and science. Explain.
- Q:-
Identify and state the force that binds all the other functions of management.
- NCERT Chapter