SUBJECT:- Principles & Practice of Management

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INDIAN SCHOOL OF BUSINESS

MANAGEMENT & ADMINISTRATION

AN ISO 9001 : 2008 CERTIFIED INSTITUTION

SUBJECT:- Principles & Practice of Management

MARKS :80

Course :MBA-4 Sem (Masters In Business Administration

Name :

           

Answer the question in one line.

Q1. Explain different roles of a manager. (10 marks)

Answer:A manager’s role is very crucial in an organization. The success of organization depends upon manager’s ability in utilizing the resources for achieving the pre determined goals. Henry Mintzberg suggested three areas where a manger has to work.

Interpersonal Role: Interpersonal roles

Q2. Define a management (10 marks)

Answer: Management in businesses and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively.  Management includes planning, organizing, staffing, leading or directing, and controlling an organization to accomplish the goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Management is also an academic discipline, a social science

Q3. Describe the Modern approach to management with its types. a) Quantitative approach. b) Systems approach c) Contigency approach. (10 marks)

Answer:Since based on cases and past experiences, it has not contributed anything fundamental to the development of management as a discipline because of contradictions in various management experiences.  The proposition that a successful technique applied in the past will be good for future is untenable.

1) Management is not based on precedents

Q4. a) Explain the concept of social responsibility. b) Describe the four different views on the social responsibility of business. (10 marks)

Answer:a) Social responsibility is an ethical framework which suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems. A trade-off may[citation needed] exist between economic development, in the material sense, and the welfare of the society and environment. Social responsibility means sustaining the equilibrium between the two. It pertains not only to business organizations but also to everyone whose any action impacts the environment. This responsibility can be passive, by avoiding engaging in socially

Q5. a) What are the steps involved in planning? b) How you make planning effective? (10 marks)

Answer:a)The various stages in the process of planning are as follows:

1. Goal setting:Plans are the means to achieve certain ends or objec­tives. Therefore, establishment of organizational or overall objectives is the first step in planning.

2. Developing the planning premises:Before plans are prepared, the assumptions and conditions underlying them must be clearly defined these

Q6. What is the difference between a policy and a procedure? (10 marks)

Answer:Policies and procedures are two words often talked about in any organization. They are extremely important and no organization can work in the absence of policies and procedures. But there are so many similarities in the two concepts that many often use the words interchangeably, which is not correct. This article intends to highlight the difference between policy and procedure so that any person working in an organization may not have any confusion between the two.

Q7. Explain the advantages and limitations of planning. (10 marks)

Answer:Planning can be defined as “thinking in advance what is to be done, when it is to be done, how it is to be done and by whom it should be done”. In simple words we can say, planning bridges the gap between where we are standing today and where we want to reach.

Planning involves setting objectives and deciding in advance the appropriate course of action to achieve these objectives so we can also define planning as setting up of objectives and targets and formulating an action plan to achieve them.

Q8. Explain the strategic planning in the Indian industry. Which are the planning skills required for better business. (10 marks)

Answer:The objectives of strategic planning including understanding the benefits of strategic planning; understanding the products of strategic planning; and learning the keys to successful planning and implementation.

Many organizations spend most of their time reacting to unexpected changes instead of anticipating and preparing for them. This is called crisis management. Organizations caught off guard may spend a great deal of time and energy "playing catch up". They use up their energy coping with immediate problems with little energy left to anticipate and prepare for the next challenges. This vicious cycle locks many organizations into a reactive posture.

Indicators include census demographic

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