Explain the importance of controlling in an organisation. What are the problems faced by the organisation in implementing an effective control system?
Controlling is an indispensable function of management. Controlling refers to the process of measurement of performance according to standards, measuring deviations and taking corrective action to achieve predetermined goals. Following are the factors that highlighted the importance of controlling:
Accomplishing Organisational Goals: It measures progress towards the organisational goals and find out deviations. In the absence of control system, activities may not be carried out according to plans. Thus, we can say, it guides the organisation and keeps it on the right track, so that it can attain its goals.
Judging Accuracy of Standards: Through an effective control system, managers can easily judge the accuracy of standards. It also keeps a careful check on the changes taking place in the organisation and in the environment, which facilitates the review of standards, in the light of such changes.
Making Efficient Use of Resources: By exercising control, a manager seeks to reduce wastage and spoilage of resources. Each activity is performed in accordance with predetermined standards and norms, which helps in effective and efficient utilization of resources.
Improving Employees Motivation: It helps employees in realising, what they are expected to do and what are the standards of performance, on the basis of which they are appraised. This motivates them to perform better.
Ensuring Order and Discipline: By keeping a check on the activities of the workers, controlling creates an atmosphere of order and discipline among them. It also helps to keep a check on the dishonest behaviour of employees.
Facilitating Coordination in Action: It provides direction to all activities and each department and employees is governed by predetermined standards, which helps in establishing coordination among them.
The problems faced by the organisation in implementing an effective control system are:
Difficulty in setting Quantitative Standards: Control system is effective when standards are defined in quantitative terms. But in some cases, like employee morale, job satisfaction, etc, it is not possible to set quantitative standards. In the absence of these standards, measurement and comparison becomes difficult.
Little Control on External Factors: There are certain external factors like change in government policies, technological changes, competition, etc, which are beyond the control of the organisation. Thus, controlling such factors becomes difficult.
Resistance from Employees: Employees often resist control as they consider it as restriction or boundation on their freedom. e.g. employees might resist working under close supervision of CCTV’s and cameras.
Costly Affair: Control is a costly affair as it involves a lot of expenditure, time and effort. A small firm cannot afford to install an expensive control system. The cost of control system should not exceed the benefits derived from it.
What are the steps taken by management in the planning process?
Why is management considered to be a multi-dimensional concept?
Explain the procedure for selection of employees.
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
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.
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.
Define scientific management. State any three of its principles.
Explain the qualities of a good leader? Do the qualities alone ensure leadership success?
Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
Management is a series of continuous interrelated functions. Comment.
How does informal organisation support the formal organisation?
‘Planning is looking ahead and controlling is looking back.’ Comment.
Draw a diagram depicting a functional structure.
Explain the factors determining the choice of channel of distribution.
Distinguish between convenience product and shopping product.
Briefly discuss the impact of Government policy changes on business and industry.
A company, Xylo limited, is setting up a new plant in India for manufacturing auto components. India is a highly competitive and cost effective production base in this sector. Many reputed car manufacturers source their auto components from here. Xylo limited is planning to capture about 40% of the market share in India and also export to the tune of at least ` 50 crores in about 2 years of its planned operations. To achieve these targets it requires a highly trained and motivated work force. You have been retained by the company to advise it in this matter. While giving answers keep in mind the sector the company is operating.
Questions:
a. Outline the process of staffing the company should follow.
b. Which sources of recruitment the company should rely upon. Give reasons for your recommendation.
c. Outline the process of selection the company should follow with reasons.
Which style of leadership does not believe in use of power unless it is absolutely essential?
Explain the various steps involved in the process of control.
What are the responsibilities of a consumer?