An auto company C Ltd. is facing a problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower priced models for mass consumers who are price sensitive. C Ltd. realized that it needs to take steps immediately to improve its market standing in the future. For quality conscious consumers, C Limited plans to introduce new models with added features and new technological advancements. The company has formed a team with representatives from all the levels of management. This team will brainstorm and will determine the steps that will be adopted by the organisation for implementing the above strategy. Explain the features of Planning highlighted in the situation given below. (Hint: Planning is pervasive, Planning is futuristic and Planning is a mental exercise).
The features of planning highlighted in the above case are:
1. Planning is pervasive: Planning is required at all levels of management as well as in all departments of the organization. It is not a function restricted to top level but it is performed by managers at every level. Where the top level management forms organizational plans, the middle level does departmental planning, and the lower level makes plans for the day-to-day working or the organization.
2) Planning is futuristic: Planning is based on forecasting and it is prepared for the future. The main purpose of planning is to meet future events effectively to the best advantage of an organization. It implies looking into the future, analyzing it and predicating it. Thus planning is a futuristic process.
3. Planning is a mental exercise: Planning is a mental exercise as it requires creativity, imagination and higher thinking skills with sound judgement. It is an intellectual activity of thinking. It requires logical and systematic thinking rather than guesswork or wishful thinking.
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.
Why it is important for business enterprises to understand their environment? Explain.
What is a divisional structure? Discuss its advantages and limitations.
State the main objective of time study.
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.
Decentralisation is an optional policy. Explain why an organisation would choose to be decentralised.
Describe the functions of labeling in the marketing of products.
A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?
How would you characterize the business environment? Explain with examples, the difference between general and specific 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?