An electronics company, manufacturing consumer durable goods like microwave ovens,
refrigerators and air conditioners, faces extreme pressure due to declining margins and rising
competitions. The company’s productions unit blames marketing department for not creating enough
sales, while the marketing department blames the production unit for producing durables with multiple
defects and inconsistent quality. Alternatively, the companies finance unit indicates that the production
unit as well as the marketing department is responsible for declining return on investment. 4M
(i) Explain briefly, as to what quality or essence of managementis the company is lacking?
(ii) What function of this quality or essence should the company’s management take to bring the
company back on track?
Answers
Answer:
The company is lacking cordination
Explanation:
"cordination is a essence of management"
(1) COORDINATION REFERS TO : Synchronization of various activities and efforts of
• all individuals,
• groups
• departments
in common direction to achieve the goals of the organization.
(2) LACK OF COORDINATION RESULTS IN :
• overlapping,
• duplication of efforts,
• delay in work and chaos.
(3) COORDINATION ENSURES THAT :
• right person is assigned right job,
• right job is performed at the right time,
• right product/service is delivered to the customer at the right time.
Coordination has been included in the first chapter of Business Studies in the Unit: Nature and Significance of Business. In this study material, we have provided the meaning and all the important topics in a succinct, point wise manner so that it will be easy to read and comprehend to the students.