Why delegation is considered essential for effective organising?
Delegation refers to the transfer of authority from superior to subordinate for the completion of the tasks. It is a pre-requisite to the efficient functioning of an organisation because it enables a manager to use his time on high priority activities. It is essential for effective organising because of its benefits:
1. Effective Management: By empowering the employees, the managers are able to function more efficiently as they get more time to concentrate on important matters.
2. Employee Development: Delegation provides more opportunities to the employees to utilize their talent and develop their abilities. It helps to make them better leaders and decision makers, thus, creating future managers.
3. Motivation of employees: Delegation provides a feeling of status and recognition to subordinates, as it is not only a process of sharing workload, but also involves trust of the superior on his subordinate. Entrustment of responsibility builds up the self-esteem of the employees and encourages them to perform better.
4. Facilitation of growth: Delegation helps in the expansion of an organisation by providing a ready workforce to take up leading positions in new ventures. Trained and experienced employees are able to play a significant role in launching new projects of the organisation.
5. Basis of management hierarchy: Delegation of authority establishes superior subordinate relationships, which are the basis of hierarchy of management. This helps employees to know ‘who has to report to whom’. Thus, duties and powers of each individual become clear.
6. Better coordination: The elements of delegation namely authority, responsibility and accountability helps to define the powers, duties and responsibilities related to various positions in an organisation. This helps to avoid overlapping and duplication of work and facilities coordination, as it gives a clear picture of the work being done at various levels.
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.
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
Define scientific management. State any three of its principles.
Explain the procedure for selection of employees.
Management is a series of continuous interrelated functions. Comment.
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.
Define advertising? What are its main features? Explain.
Ritu is the manager of the northern division of a large corporate house. At what level does she work in the organisation? What are her basic functions?
What is financial risk? Why does it arise?
What is meant by management?
What are the factors affecting determination of the price of a product or service? Explain.
Why is management considered to be a multi-dimensional concept?
Name the principle that a manager should consider while dealing with deviations effectively. State any one situation in which an organisation’s control system loses its effectiveness.
State the basic features of management as a profession.
Who can file a complaint in a consumer court?
What is a Treasury Bill?