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Principles and Functions of Management
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Principles and Functions of Management
Principles and Functions of Management
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1
Question
What are four key reasons why management is considered important for an organization?
0:57
Answer
Management helps achieve group goals, increases efficiency, creates a dynamic organization, and helps achieve personal objectives.
2
Question
Which four fundamental features characterize the principles of management?
1:07
Answer
Universal applicability, general guidelines, formed by practice and experimentation, and flexibility.
3
Question
What significance do management principles hold for a manager's professional practice?
1:13
Answer
They provide useful insights into reality, help in optimum utilization of resources, support scientific decisions, and meet changing environmental requirements.
4
Question
Who was the major contributor to the development of Scientific Management principles?
1:19
Answer
FW Taylor (Frederick Winslow Taylor).
5
Question
What are four techniques commonly associated with scientific management as proposed by Taylor?
1:26
Answer
Functional foremanship, standardization and simplification of work, method study, and time study.
6
Question
Which four features define the nature of the business environment?
1:35
Answer
Totality of external forces, specific and general forces, inter-relatedness, and dynamic nature.
7
Question
How does an understanding of the business environment specifically benefit a manager?
1:42
Answer
It helps in identifying opportunities (first mover advantage), identifying threats (early warning signal), tapping useful resources, and coping with rapid changes.
8
Question
What are the four primary dimensions that constitute the business environment?
1:54
Answer
Economic, social, technological, and political dimensions.
9
Question
What are the four essential features of planning in a business context?
2:03
Answer
Planning focuses on achieving objectives, is a primary function of management, is pervasive, and is continuous.
10
Question
Why is planning considered important for the success of an enterprise?
2:06
Answer
It provides direction, reduces the risk of uncertainty, reduces overlapping and wasteful activities, and promotes innovative ideas.
11
Question
What are four common limitations that can hinder the effectiveness of planning?
2:16
Answer
Planning leads to rigidity, may not work in a dynamic environment, reduces creativity, and involves huge costs.
12
Question
How do policies and strategies differ as types of management plans?
2:23
Answer
Policy provides a general response to particular situations (a way of thinking), while strategy is a comprehensive plan for accomplishing organizational goals in a competitive environment.
13
Question
What sequential steps should a manager follow in the planning process?
2:29
Answer
Setting objectives, developing premises, identifying alternative courses of action, evaluating alternatives, selecting an alternative, implementing the plan, and follow-up action.
14
Question
Why is the staffing function critical to the health of an organization?
2:35
Answer
It helps in discovering and obtaining competent personnel, ensures higher performance, ensures continuous survival and growth, and helps in optimum utilization of human resources.
15
Question
What are the sequential steps involved in the staffing process?
2:40
Answer
Estimating manpower requirements, recruitment, selection, placement and orientation, training and development, performance appraisal, promotion and career planning, and compensation.
16
Question
What are four common selection tests used during the staffing process?
2:50
Answer
Intelligence tests, aptitude tests, personality tests, and trade tests.
17
Question
How does training and development benefit an organization?
2:53
Answer
It leads to higher profits, reduces wastage, improves employee morale, and acts as a safety valve against industrial accidents.
18
Question
When a subordinate is promoted to fill a vacant manager post, what source of recruitment is being used?
3:33
Answer
Internal source of recruitment (specifically, promotion).
19
Question
What recruitment source is used when a post is filled by screening a database of unsolicited applications?
3:33
Answer
External source of recruitment (specifically, casual callers).
20
Question
Why is the controlling function important in the management cycle?
3:51
Answer
It helps in accomplishing organizational goals, judging accuracy of standards, making efficient use of resources, and improving employee motivation.
21
Question
What are the limitations of the controlling function in management?
3:56
Answer
Difficulty in setting quantitative standards, little control over external factors, resistance from employees, and high costs.
22
Question
What is the meaning of the management principle 'controlling everything results in controlling nothing'?
3:59
Answer
It refers to Management by Exception, suggesting that managers should only focus on significant deviations rather than trying to monitor every minor detail.
23
Question
What are the first four steps in the controlling process?
4:05
Answer
Setting performance standards, measurement of actual performance, comparison of actual performance with standards, and analyzing deviations.
24
Question
What are the defining characteristics of management as a practice?
4:30
Answer
Goal-oriented process, pervasive, multidimensional, continuous process, group activity, dynamic function, and intangible force.
25
Question
What are the three main types of objectives management aims to achieve?
4:32
Answer
Organizational objectives (survival, profit, growth), social objectives, and personal objectives.
26
Question
How can management be justified as being both an art and a science?
4:43
Answer
It is a science because it is a systematized body of knowledge with universal truths, and an art because it requires personal application of skills and creativity to achieve results.
27
Question
What is the definition of coordination in management?
4:52
Answer
The process by which a manager synchronizes the activities of different departments to ensure unity of action in pursuit of common goals.
28
Question
What are the key characteristics of coordination?
4:52
Answer
Integrates group effort, ensures unity of action, is a continuous process, is an all-pervasive function, and is the responsibility of all managers.
29
Question
What is the definition of the organizing function in management?
5:04
Answer
The process of identifying and grouping the work to be performed, defining responsibility and authority, and establishing relationships for the purpose of enabling people to work together effectively.
30
Question
What are the benefits of organizing within a business?
5:04
Answer
Benefits of specialization, clarity in working relationships, optimum utilization of resources, and adaptation to change.