Discuss the differences between the contributions of Taylor and Fayol.
Basis of Difference | Taylor's Cintributions | Fayol's Contributions |
---|---|---|
Perspective | Shop floor level of a factory. | Top level of management. |
Contrbution | Scientific management theory was given by Taylor in 1911. | General theory of administration was given by Fayol in 1916. |
Personality | Taylor was mechanical engineer (scientist). | Fayol was a mining engineer (practitioner). |
Applicability | Applicable to specialised situations. | Applicable universally. |
Basis of formation | Observation and experimentation. | Personal experience. |
Title | Taylor is called 'Father of scientific management'. | Fayol is called 'Father of General Management.' |
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.
Distinguish between Capital Market and Money Market.
Why is management considered to be a multi-dimensional concept?
The workers of a factory remain idle because of lack of knowledge of hi-tech machines. Frequent visit of engineer is made which causes high overhead charges. How can this problem be removed. (vestibule training)
Briefly discuss the impact of Government policy changes on business and industry.
What are the steps taken by management in the planning process?
What does the term ‘Span of management’ refer to?
“Money Market is essentially a Market for short term funds.” Discuss.
Which element in the communication process involves converting the message into words, symbols, gestures etc.?
Explain the techniques of managerial control.
Draw a diagram depicting a functional structure.