Explain the principle of ‘Scalar Chain’ and gang plank.
The formal lines of authority from highest to lowest ranks are known as scalar chains. Fayol insists that every organization should have a chain of authority and communication that runs from top to bottom and should be strictly followed by managers and the subordinates.
In the above diagram A is the head and under A there are two lines of authorities. One line consists of B and C and another line consists of D and E. And if C wants to communicate with E who is at the same level of authority then the chain of communication will be from C – B – A – D – E. This is due to the principle of the scalar chain being followed. And this process of communication is long and it should not be violated. But in case of emergency then C can communicate with E directly and this is called gang plank. As shown in the above diagram. And this is the shorter way of communication which is provided so that communication is not delayed.
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.
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 is management considered to be a multi-dimensional concept?
What are the functions of the Stock Exchange?
Define scientific management. State any three of its principles.
State the basic features of management as a profession.
How does branding help in creating product differentiation? Does it help in marketing of goods and services? Explain.
Explain the importance of consumer protection from the point of view of a business.
How would you argue that the success of a business enterprise is significantly influenced by its environment?
What is marketing? What functions does it perform in the process of exchange of goods and services? Explain.
What information is generally placed on the package of a food product? Design a label for one of the food products of your choice.
How does working capital affect both the liquidity as well as profitability of a business?