Question

Fundamentals of
management case study with solution?
​

Answer 1

Answer:

Management refers to getting things to be done effectively and efficiently with the aim of achieving goal.

Effectiveness -

1. Doing the right task.
2. Getting work to be done in minimum time.
3. Emphasises time benefit analysis.

Efficiency -

1. Doing the right task in a right way.
2. Getting work to be done in minimum cost.
3. Emphasises cost benefit analysis.

Effectiveness and Efficiency are two sides of the SAME COIN.

Objectives -

1. Organisational Objectives
2. Social Objectives
3. Personal Objectives

Levels -

1. Top Level
2. Middle Level
3. Supervisory Level

Importance -

1. Helps in achieving group goals.
2. Increases efficiency.
3. Creates Dynamic Organisation.
4. Helps in achieving personal objectives.
5. Development of Society.

Functions -

1. Planning
2. Organising
3. Staffing
4. Directing
5. Controlling

Coordination - It is the essence of Management.

Explanation:

Effectiveness - Ram is doing his work on time. No matter whatever the cost is spent.

Efficiency - Shyam is doing his work with limited cost. He believes that there should be no wastage of money.

Objectives -

1. Organisational Objectives - Survival, Profit, Growth.
2. Social Objectives - Fulfilling the needs of the society.
3. Personal Objectives - Fulfilling the needs of the employees.

Levels -

1. Top Level - Board of Directors, Chairman, Vice Chairman, Managing Director, CEO, CFO, President, Vice President.
2. Middle Level - Departmental Heads, Finance Manager, HR Manager, Marketing Manager, Sales Manager.
3. Supervisory Level - Plant Superintendent, Clerks, etc.

Functions -

1. Planning - Thinking in advance what to be done, how it is to done, and by whom it is to be done.
2. Organising - Systematic distribution of work among employee by maintaining authority and responsibility relationship.
3. Staffing - Finding the right person having right qualification doing the right job at the right time.
4. Directing - Instructing, guiding, inspiring, and stimulating the behaviour of employees to achieve the organisational goal.
5. Controlling - Comparison of actual output and planned output and taking the corrective measures to improve it.

Coordination -

1. All the functions of management is useless if there is no coordination in the organisation.
2. It integrates group efforts.
3. It is required at all the levels of management.
4. It is the most important function of management.