Explain the qualities of a good leader? Do the qualities alone ensure leadership success?
It is said that certain qualities or traits possessed by individuals help them to become successful leaders. These qualities are:
1. Physical qualities: A good leader must possess a good height, weight, health and appearance. Health and endurance help a leader to work hard and inspire others also to do so.
2. Knowledge: A good leader should have required knowledge and competence, so that he can influence others.
3. Integrity: A leader should possess a high level of integrity and honesty, so that he can be a role model to others.
4. Initiative: A leader should have courage and initiative to do things on their own, rather than waiting for others to do it first.
5. Communication skills: A leader should be a good communicator. He should be able to clearly explain his views to others. He should not only be a good speaker, but a good listener, teacher and counselor.
6. Motivation skills: A leader should understand the needs of his employees and motivate them by satisfying their needs.
7. Self-confidence: A leader should have a high level of confidence. He should not lose confidence even in the most difficult times.
8. Decisiveness: A leader must be decisive in the sense that once he has taken a decision, he should be firm on it.
9. Social skills: A leader should be sociable and friendly with his colleagues and followers, so that he can understand them and their needs.
Though the above qualities are required for being a good leader but by having only these qualities don’t ensure successful leadership. And also all these qualities cannot be present in a single person. So, a conscious effort should be made by the managers to acquire them.
What are the steps taken by management in the planning process?
Why is management considered to be a multi-dimensional concept?
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.
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
Management is a series of continuous interrelated functions. Comment.
Explain the procedure for selection of employees.
‘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?
How does planning provide direction?
Give an example to show that a business firm operates within numerous inter related factors constituting the business environment.(Hint: example highlighting the inter relatedness of dimensions of business environment).
Under which consumer right does a business firm set up consumer grievance cell?
Explain the factors affecting dividend decision?
What is the common name for Beneficiary Owner Account, which is to be opened by the investors for trading in securities?
What are the steps taken by management in the planning process?
Explain the techniques of managerial control.
Distinguish between advertising and personal selling.
Explain any three principles of Directing.
A company X limited manufacturing cosmetics, which has enjoyed a pre-eminent position in business, has grown in size. Its business was very good till 1991. But after that, new liberalised environment has seen entry of many MNC’s in the sector. With the result the market share of X limited has declined. The company had followed a very centralised business model with Directors and divisional heads making even minor decisions. Before 1991 this business model had served the company very well as consumers had no choice. But now the company is under pressure to reform. What organisation structure changes should the company bring about in order to retain its market share? How will the changes suggested by you help the firm? Keep in mind that the sector in which the company is FMCG.
How does planning provide direction?