Question

Ice Air Manufacturers are the leading AC manufacturers. On meeting the record target, they decided to give prize to the best worker of the year. Rajesh who is a very devoted worker wins the prize of the best worker. He is very happy. Mr. Kulkarni who is the CEO of the company gives a heart-touching speech. He tells all the workers present that the company should reach new heights this year. Their contribution will be immense. He tells them that the revenue this year should exceed cost so much so as to reduce the business risk. So that in the coming years company could show increase in the number of workers, number of
products produced and also the sales turnover. The speech ends with the
promise made by the labour union head that the company will get the full support from the workers. In the above case which type of objectives are discussed by Mr. Kulkarni in the speech and explain? What is the other term used for this category of objectives?
At which level of management does Rajesh work in the company?

Answer 1

Answer:

Management is the process of getting work done from others effectively as well as efficiently by involving functions of management to achieve organisational goals.

Efficiency involves minimising costs and increasing output. Effectiveness means doing the right work, on or before time in the right quantity and maintaining the right quality.

Characterstics of management