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.
Explain the qualities of a good leader? Do the qualities alone ensure leadership success?
Explain the process of motivation with the help of a diagram.
Explain different financial and non-financial incentives used to motivate employees of a company?
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?
In an organisation all the employees take things easy and are free to approach anyone for minor queries and problems. This has resulted in everyone taking to each other and thus resulting in inefficiency in the office. It has also resulted in loss of secrecy and confidential information being leaked out. What system do you think the manager should adopt to improve communication?
The workers always try to show their inability when any new work is given to them. They are always unwilling to take up any kind of work. Due to sudden rise in demand a firm wants to meet excess orders. The supervisor is finding it difficult to cope up with the situation. State the element of directing that can help the supervisor in handling the problem.
Discuss Maslow’s Need Hierarchy theory of motivation.
What are semantic barriers of communication?
Explain any three principles of Directing.
What are the common barriers to effective communication? Suggest measures to overcome them.
How does planning provide direction?
What is meant by staffing?
Identify the network of social relationships which arises spontaneously due to interaction at work.
State the meaning of controlling.
What is meant by capital structure?v
What is meant by management?
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?
What is marketing mix? What are its main elements? Explain.
Explain the major activities involved in the physical distribution of products.
Discuss the importance of training for both employees and organizations.
‘Bhasin’ limited was engaged in the business of food processing and selling its products under a popular brand. Lately the business was expanding due to good quality and reasonable prices. Also with more people working the market for processed food was increasing. New players were also coming to cash in on the new trend. In order to keep its market share in the short run the company directed its existing workforce to work overtime. But this resulted in many problems. Due to increased pressure of work the efficiency of the workers declined. Sometimes the subordinates had to work for more than one superior resulting in declining efficiency. The divisions that were previously working on one product were also made to work on two or more products. This resulted in a lot of overlapping and wastage. The workers were becoming indisciplined. The spirit of teamwork, which had characterized the company, previously was beginning to wane. Workers were feeling cheated and initiative was declining. The quality of the products was beginning to decline and market share was on the verge of decrease. Actually the company had implemented changes without creating the required infrastructure.
a. Identify the Principles of Management (out of 14 given by Henry Fayol) that were being violated by the company.
b. Explain these principles in brief.
c. What steps should the company management take in relation to the above principles to restore the company to its past glory?
Explain Taylor’s concept of 'Mental Revolution' and its relevance today.
The workers of a factory are unable to work on new machines and always demand for help of supervisor. The Supervisor is overburdened with their frequent calls. Suggest the remedy. (Hint: training)
Why it is important for business enterprises to understand their environment? Explain.
What is meant by business environment?
Explain the procedure for selection of employees.