A reputed hostel, Gyan Pradhan provides medical aid and free education to children of its employees. Which incentive is being highlighted here? State its category and name any two more incentives of the same category.
Financial incentive category is being used in the above case as Gyan Pradhan provides medical aid and free education to children of its employees and this is known as Perquisites. Perquisites means apart from basic salary, some companies offer fringe benefits to employees like rent free accommodation, education of children, medical allowance, car allowance, etc.
The other two incentives of this category are:
1. Bonus: It is a one time reward for high performance. Bonus may be paid in cash or kind over and above the salary. For example, performance bonus, 100% attendance bonus, festive bonus etc.
2. Retirement Benefits: Several retirement benefits such as provident fund, pension, and gratuity are provided to the employees as a financial security after retirement.
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.
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.
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.
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.
State any two relief available to consumers under CPA.
Explain the term ‘Trading on Equity’? Why, when and how it can be used by company.
Name any two Specific forces of business environment affecting business.
A company is manufacturing paper plates and bowls. It produces 1,00,000 plates and bowls each day. Due to local festival, it got an urgent order of extra 50,000 plates and bowls. Explain the method of recruitment that the company should adopt in the given circumstances to meet the order.
State the main objective of time study.
Financial management is based on three broad financial decisions. What are these?
State the basic features of management as a profession.
“A successful enterprise has to achieve its goals effectively and efficiently.” Explain.
What makes principles of management flexible?
Explain the techniques of managerial control.