Define scientific management. State any three of its principles.
Scientific management means knowing exactly what you want men to do and seeing that they do it in the best and cheapest way. In other words it means application of scientific tools, methods and trained personnel in order to increase the output.
Following are the three principle of management:
1. Science, not rule of thumb: Rule of thumb means a manager makes decisions and finds solutions to any problem on the basis of their personal judgment and experiences and that will be not equally effective. So in order to increase the efficiency of the organization the rule of thumb should be substituted by the scientific method which involves investigations of traditional methods through work and study. According to Taylor even doing any small activity of production should be done scientifically for saving manpower and wastage of time and materials.
2. Harmony, Not Discord: According to this principle there should be complete harmony among the workers and the management because if there is any conflict between workers and the manager then it will help none, the worker, the managers or the owners. Both should realize their importance in the organization for each other. And management should take care of the needs of the workers and at the same time the workers should work hard for the good of the company. And in order to achieve this Taylor called for complete mental revolution on both the part management and workers.
3. Cooperation, Not Individualism: There should be complete cooperation among the workers and the management instead of individualism. In this principle competition should be replaced by cooperation. Both of them understand that they need each other. And for this the workers should not strike and do not make any unreasonable demand by the management. And at the same time the management should not close their ears when the workers give any constructive suggestions and also be rewarded for their suggestions which is beneficial for the organization.
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.
Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
Explain the qualities of a good leader? Do the qualities alone ensure leadership success?
Management is a series of continuous interrelated functions. Comment.
Why it is important for business enterprises to understand their environment? Explain.
The production manager asked the foreman to achieve a target production of 200 units per day, but he doesn’t give him the authority to requisition tools and materials from the stores department. Can the production manager blame the foreman if he is not able to achieve the desired target? Give reasons.
Explain the techniques of managerial control.
What are the steps taken by management in the planning process?
In an attempt to cope with Reliance Jio’s onslaught in 2018, market leader Bharti Airtel has refreshed its ₹ 149 prepaid plan to offer 2 GB of 3G/4G data per day, twice the amount it offered earlier. Name the type of plan is highlighted in the given example. ? State its three dimensions also.
A firm plans in advance and has a sound organisation structure with efficient supervisory staff and control system but on several occasion it finds that plans are not being adhered to. It leads to confusion and duplication of work. Advise remedy.
Explain the Principles of Scientific management given by Taylor.
‘No organisation can be successful unless it fills and keeps the various positions filled with the right kind of people for the right job.’ Elucidate
Define current assets? Give four examples of such assets.
What is meant by business environment?
Coordination is the essence of management. Do you agree? Give reasons.