‘Expenditure on advertising is a social waste.’ Do you agree? Discuss.
Advertising is the most frequent medium of promotion, it attracts a lot of criticism as social waste, multiplying needs of consumers, developing materialism, etc. but the proponents discourage such opinions. Thus, it is important to examine these criticisms and see how far they are true.
Adds to cost: The opponents of advertising argue that advertising unnecessarily adds to cost of product, which passes on to the buyers in the form of high price. However, on the other hand, proponents claim that advertising helps to increase the demand of the product. An increase in production leads to large scale production which ultimately helps in reducing cost due to economies of scale and thus, the price of the product.
Undermines social values: Advertising causes discontentment among the customers and promote materialism, as they come to know about newer and better products available in the market. But, the objections are not entirely true because advertisements help the buyers by informing them about the new products over the existing ones. If they are not informed, they may be using inefficient products.
Confuses Buyers: The opponents say that so many advertisements make similar claims and the buyer gets confused as to which one is true and can be relied upon. It may create a state of confusion as to which product he should buy in the market. However, the criticisms are not true as we know that consumers are rational human beings, who can take their decisions considering various aspects of a product. He can use his wisdom along with information provided by advertisements to make the right choice of purchase.
Encourages sale of inferior goods: Opponents of advertising claim that is does not distinguish between superior and inferior goods. However, we also know that no good is superior or inferior. The level of quality depends upon the economic status of the target customer. Advertisements promote all goods, customers may pick them according to their requirements.
Some advertisements are in bad taste: Some advertisements are in bad taste and show something which is not approved by the society. They may show something objectionable and may cause distortion of certain relationships. Definitely, advertisements should avoid use of objectionable words, graphics, photos, etc, which may have a bad effect on the society.
Thus, it can be said that though expenditure of advertisement draw criticism but the objections are not fully true. Because on the one hand they can be misused and they have their own cons but on the other hand they cannot neglect the benefits derived from advertisement.
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.
Kaul Consultants have launched www.naukaripao.com exclusively for senior management professionals. The portal lists out senior level jobs and ensures that the job is genuine through rigorous screening process.
a. State the source of recruitment highlighted in the case above.
b. State four benefits of the above identified source of recruitment.
Lalita wants to buy shares of Akbar Enterprises, through her broker Kushvinder. She has a Demat Account and a bank account for cash transactions in the securities market. Discuss the subsequent steps involved in the screen-based trading for buying and selling of securities in this case.
A company manufacturing sewing machines set up in 1945 by the British promoters follows formal organisation culture in totality. It is facing lot of problems in delays in decision making. As the result it is not able to adapt to changing business environment. The work force is also not motivated since they cannot vent their grievances except through formal channels, which involve red tape. Employee turnover is high. Its market share is also declining due to changed circumstances and business environment. You are to advise the company with regard to change it should bring about in its organisation structure to overcome the problems faced by it. Give reasons in terms of benefits it will derive from the changes suggested by you.
“A successful enterprise has to achieve its goals effectively and efficiently.” Explain.
Name any two important characteristics of management.
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
Explain the redressal mechanism available to consumers under the Consumer Protection Act, 1986.
Identify and state the force that binds all the other functions of management.
Discuss the following techniques of Scientific Work Study:
a. Time Study
b. Motion Study
c. Fatigue Study
d. Method Study
e. Simplification and standardisation of work
What is meant by recruitment? How is it different from selection?