Short Questions & Answer -Part - II

Ques. 35. - Explain the types of decision tree.
Ans. – There are three types of decision tree –
1. Classification tree: classification tree analysis is a term used when predicted outcome is the class to which the data belongs.
2. Regression tree: Regression tree analysis is a term used when the predicted outcome can be considered a real number.
3. CART: Used to refer to both of the above procedures.
Ques. 36. - Who is a speed boss?
Ans. - Speed boss is a foreman who would determine the optimum speed at which machines are to be operated so that both over-speeding and under-speeding of machines are avoided. In this way less depreciation is caused to machines.
Ques. 37. Explain Seven Steps for Ethical Decision Making.
Ans –
1. Get the facts
2. Identify stakeholders and their positions
3. Consider the consequences of their decision
4. Weigh various guidelines and principles
5. Develop and evaluate your decision
6. Review your decision
7. Evaluate the results of your decision.
Ques. 38. - What is corporate social Responsibility (CSR)?
Ans. - ―Specifically, we see CSR as the voluntary actions that business can take, over and above compliance with minimum legal requirements, to address both its own competitive interests and the interests of wider society.‖
CSR is a concept that frequently overlaps with similar approaches such as corporate sustainability, corporate sustainable development, corporate responsibility, and corporate citizenship.
World Business Council for Sustainable Development states that –
―Corporate social responsibility is the continue commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large‖.
Ques. 39. – What is business ethics?
Ans. - Ethics – ―Rules & principles that defines right & wrong conduct‖
. It is concerned with truth and justice and has a variety of aspects such as expectations of society, fair competition, advertising, public relation etc.
Business Ethics relate to the behavior of a businessman in a business situation. These are concerned primarily with the impacts of decisions on people, within & without the organization, individually & collectively in communities or in other groups.
Ques. 40. - What is scientific management?
Ans. - It is an art of knowing what exactly you want from your men to do and then seeing that is done in the best possible manner .In simple word, it is application of science to management.
Ques. 41. – What are the contributions of F W Taylor?
Ans. -
- Determination of fair days works each individual through scientific method.
- Scientific selection and training of workers.
- Standardization of raw materials, tools and working condition.
- Differentiate piece rate system of wage payment.
- Function foremanship.
Ques. 42. - Explain the Principles of Scientific Management?
Ans. – F.W. Taylor is known as Father of Scientific Management. He contributed towards the concept of scientific management. He also enriched the management with few principles & some scientific techniques.
The fundamental principles, which would support the concepts and practice of scientific management.
List of the Principles of Scientific Management –
1. Science, not the rule of the thumb.
2. Harmony, not discord.
3. Co-operation, not individualism.
4. Maximum production, in place of restricted production.
5. Development of each person to the greatest of his capabilities.
Ques. 43. - What is the criticism of scientific management?
Ans. - Criticism of scientific management –
• Unsuitable for the small employers.
• Unemployment.
• Retarding human development.
Ques. 44. - Differentiate between goals and plans.
Ans. - Goals are desired outcomes for individuals. Groups or entire organizational. Plans are document that outline how goals are going to be met and that typically describe resource allocations, schedules, and other necessary actions to accomplish the goals.
Ques. 45. - Explain each of the different types of plans.
Ans. - Strategic plans apply to the entire organization, establish the organization‘s overall goals, and seek to position the organizations In terms of its environment.
Operational plans specify the details of how the overall goals are to be achieved.
Long-term plans are plans with a time frame beyond three years.
Medium-term plans are plans between one year to three years.
Short term plans cover one year or less.
Specific plans are clearly defined and leave no room for interpretation.
Directional plans are flexible plans that set out general guidelines.
Single use plans are one-time plans specifically designed to meet the needs of a unique situation.
Standing plans are ongoing plans that provide guidance for activities performed repeatedly and include policies, rules, and procedures.
Ques. 46. - Define strategic management and how it entails the four management functions.
Ans. - Strategic management is that set of managerial decisions and actions that determines the long-run performance of an organization. It entails all of the basic management function because the organization‘s strategies must be planned, organized, put into effect, and controlled.
Management Functions -
Planning,
Organizing,
Leading,
Controlling.
Ques. 47. - How is globalization affecting the way managers do their jobs?
Ans. - Management is no longer constrained by national borders, and managers in organization of all sizes and types around the world are faced with the opportunities and challenges of operating in a global market.
Ques. 48. - What is workforce diversity, and what implications does it have for managers?
Ans. - Workforce diversity exists when workers are more heterogeneous in terms of gender, race, ethnicity, age, and other characteristics that reflect their difference .Its an important issue because as more woman , minorities, elderly , and immigrants enter the job market in the first part of the twenty one entry , monumental change are and predicted in the workplace.
Ques. 49. - What purposes dose planning serve?
Ans. - Planning gives direction, reduces the impact of change, establishes coordinated effort, reduces uncertainty, minimizes waste and redundancy, and sets the standards used in controlling.
Ques. 50. - What is the relationship between planning and organizational performance?
Ans. - Formal planning is associated with higher profit, higher return on assets, and other positive financial results. The quality of the planning process and the appropriate implementation of the plane probably contribute more to high performance than does the extent of planning.
Ques. 51. - Define Forecasting and its methods.
Ans. –
Forecasting is the process of estimation in unknown situations.
Prediction is similar, but more general.
Business forecasting refers to the statistical analysis of the past & current movements in the given time series so as to obtain clues about the future pattern of those movements.
Methods of forecasting
• Quantitative forecasting,
• Technological or qualitative forecasting,
• Judgmental forecasting.
Ques. 52. - What are the different types of goals?
Ans. - Types of goals –
1. Organizational goals
2. Economic goals
3. Strategic goals
4. National goals
5. Human goals
Organization may utilize financial and/or strategic goals, stated and /or real goals.
Ques. 53. - What is Hawthorne study?
Ans. - The Hawthorne studies were conducted from 1927 to 1932 at the Western Electric Hawthorne works in Chicago, which was engaged in producing bells and other electrical equipments for telephone industry.
Hawthorne Studies is given by Elton Mayo
• Workers‘ feelings and attitudes affected their work.
• Financial incentives weren‘t the most important motivator for workers.
• Group norms and behaviour play a critical role in behaviour at work.
• Experimental findings
 Productivity unexpectedly increased under imposed adverse working conditions.
 The effect of incentive plans was less than expected.
• Research conclusion
 Social norms, group standards and attitudes more strongly influence individual output and work behavior than do monetary incentives.
Ques. 54. - What is classical management theory?
Ans. - The Classical School of Management is based on the actual work experience and theories of certain key individuals, namely, Henry Fayol, James Mooney, Edward Tregaskiss Elbourne, Mary Parker Follet, Luther Gulick, Lybdall Urwick, Oliver Sheldon, and E.F.L Brech. Their views have had a lasting impression and quite a few of them are still followed by organisations the world over.
A theory, developed during the industrial revolution that proposes ―one best way‖ to perform tasks. Classical management theory developed into two separate branches:
a) The classical scientific school.
b) The classical administrative school.
Ques. 55. - What are some early evidences of management practice?
Ans. - Some early evidences of management practice are the Egyptian pyramids, the Great Wall of China, and the status as a major economic trade center in the 1400s.
Ques. 56. - Explain why division of labor and the Industrial Revolution were important to the study of management.
Ans. - Division of labor increases productivity by increasing each worker s skill and dexterity saves time that is commonly in changing tasks and creates labor saving inventions and machinery during the industrial revolution business owner‘s large businesses that required formalized management practice.
Ques. 57. - What relevance does scientific management have to current management practice?
Ans. - Scientific management is the use of scientific methods to define the ―one best way‖ for a job to be done. It‘s relevance to current management practice is that managers still use many of the techniques developed by Taylor, the Gilbreth, and other practitioners.
Ques. 58. - Explain Frank and Lillian Gilbreth‘s contributions to scientific management?
Ans. - Frank and Lillian Gilbreth studies work arrangements to eliminate wasteful hand and body motions. They also experimented with the design and use of proper tools and equipment for optimizing work performance.
Ques. 59. - Describe Fayol‘s principles of management and how they compare with Taylor‘s?
Ans. - Heneri Fayol‘s principles of management were division of work, authority, discipline, unity of command, unity of direction, subordination of individual interests, remuneration, centralization, scalar chain, order, equity and stability of tenure personnel, initiative, and esprit de crops. In contrast to Taylor‘s principles, Fayol‘s focused on the entire organization and not just the individual workers.
Ques. 60. - What did Weber contribution to the general administrative theories of management?
Ans. - Max Weber described an ideal type of organization called a bureaucracy, characterized by division of labor, a clearly defined hierarchy, detailed rules and regulation, and impersonal relationship.
Rules and controls were to be applied uniformly, avoiding involvement with individual personalities and performances of employees.
Ques. 61. - Explain how the quantity approach evolved and how it has contributed to the field of management?
Ans. - The quantitative approach, also called operations research or management science, is the use of quantitative techniques to improve decision-making and it evolved out of the development of mathematical and statistical solutions to military problems during World War II. After the war, many quantitative techniques that had been used for military problems were applied to the business sector. The quantitative approach has added another dimension to the evolution of management practice and thinking and has contributed most directly to management decision making in planning and control.
Ques. 62 - What were some of contributions of the early advocates of OB?
Ans. - Early advocates of the OB approach were Robert Owen, who proposed an idealized workplace were work hours would be regulated, child labor outlawed, public education and a meals provided, and a business involved in community projects; Hugo Munsterberg, who
created the field of industrial psychology, the study of individuals at the maximize their productivity and adjustment; Mary Parker Follett, who though that organizations should be based on a group ethic rather than on individualism to release individual potential; and Chester Barnard, who saw organizations as social systems that require the human cooperation.
Ques. 63. - What is the criticism of scientific management?
Ans. - Criticism of scientific management –
• Unsuitable for the small employers,
• Unemployment,
• Retarding human development.
Ques. 64. - What is Profession?
Ans. - ―A Profession may perhaps be defined as occupation based upon the specialized intellectual study and training, the purpose of which is to supply skilled service, or advice to others for a definite fee or salary‖.
Ques. 65. – What is Social Responsibility of an Organization towards Shareholder?
Ans. - The responsibility of management is towards its shareholders. Management is expected to use the resources effectively and to protect the interest of shareholders.
Ques. 66. - What is Arguments for social responsibility off business?
Ans. –
Business is a part of society—Business organizations are creatures of the society and must respond to society demands.
Avoidance of government regulations—when a business is unable to fulfill its social roles, it invites more government intervention in the business system. Therefore, in order to avoid government regulation of business, it is preferable to go for social responsibility programmes.
Conscious customers—the customers are well informed. They expect higher quality products at reasonable rates.
A strong trade union—the level of education among the workers has been increasing.
Long run self interest of business--discharge of SRs ensures long run self interest of business.
Ques. 67. - State the features of Science & Arts.
Ans. -
As Science------
Science is a systematic approach.
Science has got universally principles.
It establishes a relationship between cause and their effect.
Its results come after accurate and effective.
　
It is based on well defined proved experiments.
As Arts--------
An art is a practical knowledge.
An art is a specialized personal skill.
It is a based on experience attitude and interest.
Arts can be improved through practice.
Arts create congenial atmosphere and develop further interest.
Ques. 68. - Explain about ―Decision Theory School‖.
Ans. - Decision Theory School -
•The Decision Theory School focuses on managerial decision- making which, in its view, is the core management task, pervading all management functions.
•Herbert A. Simon the chief exponent of this School.
•Decision-making has three elements, namely the decision, the decision maker, and the decision process.
Ques. 69. – Explain about ―Behavioural School‖.
Ans. -
•Behavioral School represents the synthesis of theories and methods of relevant social sciences of focusing on both individual and group behaviour.
•Among the chief exponents of the Behavioral School, are Chester Barnard, Douglas McGregor, Keith Davis and David A. Buchanan.
Ques. 70. – Explain about ―Empirical School‖ and it‘s properties.
Ans. - Empirical School -
•The Empirical School seeks to generalize the nature of management based on the experience of successful managers.
•Main exponent of the Empirical School is Ernest Dale
Main properties of the Empirical School may be summed up as follows: Management is basically a study of actual work experiences of successful managers.
•Management knowledge distilled from the work experiences can be passed from one manger to another to be applied in similar work situations.
　
•It is possible to make generalizations and develop principles on the basis of accumulated work experiences of several managers.
Ques. 71. - What is leading?
Ans. – Leading – Directing and motivating involves parties and resolving conflicts.
―It is a function that includes motivation of employee for work.‖
Leading is influencing people so that they will contribute to the organization and group goals, it should be with the interpersonal aspects of managing. Leadership implies follower and people tend to follow those who offer a means of satisfying their own needs, wishes and desires. Leading involves motivation, Leadership style and approaches and communication.
In leading, managers determine direction, state a clear vision for employees to follow, and help employees understand the role they play in attaining goals.
Leadership involves a manager using power, influence, vision, persuasion, and communication skills.
The outcome of the leading is a high level of motivation & commitment from employees.
Ques. 72. – What is controlling?
Ans. –
In controlling, managers evaluate how well the organization is achieving its goals and takes corrective action to improve performance.
Managers will monitor individuals, departments, and the organization to determine if desired performance has been reached.
Managers will also take action to increase performance as required.
The outcome of the controlling function is the accurate measurement of performance and regulation of efficiency and effectiveness.
Ques. 73. – Define Delegation and its Principles.
Ans. – Delegation - ―Transferring responsibility for the performance of an activity from one individual to another while retaining the accountability for the outcome‖ (ANA, 1993).
Delegation involves in –
Determination of the task to be accomplished
Assessment of each person‘s competency
Amount of decision making needed
Level of supervision available.
SIX PRINCIPLES OF DELEGATION –
1. Know yourself and team members
2. Assess strengths, weaknesses, job, situation and skills
3. Understand the state practice act, limitations, and job descriptions
4. Know the job requirements
5. Keep communication clear, complete and constant
6. Evaluate-review what happened/measure results.
Ques. 74. – What are the benefits of CPM/PERT?
Ans. - Benefits of CPM/PERT –
• Useful at many stages of project management
• Mathematically simple
• Give critical path and slack time
• Provide project documentation
• Useful in monitoring costs
CPM/PERT can answer the following important questions –
• How long will the entire project take to be completed? What are the risks involved?
• Which are the critical activities or tasks in the project which could delay the entire project if they were not completed on time?
• Is the project on schedule, behind schedule or ahead of schedule?
• If the project has to be finished earlier than planned, what is the best way to do this at the least cost?
Ques. 75. - Explain ―Deming's decision making model‖.
Ans. - Deming's decision making model -
Deming‘s tool for improvement and innovation.
It is developed by Deming by using PDCA or PDSA i.e., Planning, Doing, Checking/Studying and Acting which is used to solve the problems. When this tool is used it will lead to improvement or innovation.
Ques. 76. – Define Advantages and Disadvantages of Decentralization.
Ans. - Advantages of Decentralization –
 Saving of time.
 Greater efficiency and output.
 Maintenance of secrecy.
 Departmental loyalty.
 Faster decisions can be made.
 Top managers can concentrate on major issues.
 Challenge of decision-making enriches the job of lower-level employees.
Disadvantages of Decentralization -
 No proper division of work.
 Duplication of work.
 No standardization.
 Heavy expenditure.
Ques. 77. - – Explain about the contributions made by ―GILBRETHS‖ .
Ans. – Frank B & Lillian M Gilbreth collaborated on fatigue & motion studies and focused on ways of promoting the individual worker‘s welfare. According to them every motion that was eliminated will reduce fatigue. The Gilbreths argued that motion study would raise worker morale because of its obvious physical benefits & it demonstrated management concern for the worker.
Ques. 78. – Define Steps in the Control Process.
Ans. –
1. Establish Standards
a. Control standard—a target against which subsequent performance will be compared.
i. Control standards should be expressed in measurable terms.
ii. Control standards should be consistent with organizational goals.
iii. Control standards should be identifiable indicators of performance.
2. Measure Performance
a. Performance measurement is an ongoing process.
3. Compare Performance Against Standards
a. Define what a permissible deviation from the performance rstandard is.
b. Utilize the appropriate timetable for measurement.
4. Consider Corrective Action
a. Maintain the status quo (do nothing).
b. Correct the deviation to bring operations into compliance with the standard.
c. Change the standard if it was set too high or too.
Ques. 79. – What are the merits of scientific management?
Ans. - merits of scientific management?
• More production and higher profits.
• Job satisfaction
• Personality development
• Higher standard of living
Ques. 80. - Define Bureaucratic Management.
Ans. – It is developed by Max Weber (1864-1920).
The exercise of control on the basis of knowledge, expertise, or experience, with the following aims:
1. Qualification-based hiring.
2. Merit-based promotion
3. Chain of command
4. Division of labor
5. Impartial application of rules and procedures
6. Recorded in writing
7. Managers separate from owners