Rudrakshi Ltd. is engaged in manufacturing high end luxury pens. The target production is 700 units daily. The company had been successfully attaining this target until three months ago. Over the last few month, it has been observed that daily productions varies between 600-650 units.
I. Identify the function of management, which has been highlighted in the above context.
II. Discuss the first four steps involved in the process of the function identified above.
Khalnayak28:
1. The function of management followed in this scenario is planning 2. We can identify by the following cases : a) The target is 700 units b) daily production varies between 600- 650 (follow up action). I couldn't identify four but yeah I did identify 2
Answers
Answered by
3
Identify the function of management, which has been highlighted in the above context.
Explanation:
Principle of Management
Controlling. This process helps in finding out the derivations and taking necessary decisions to prevent the overlapping.
Discuss the first four steps involved in the process of the function identified above.
1. Setting performance standards
- Can be both in quantitative and qualitative in terms.
- Should be flexible to be modernized.
- It is the criteria set against which actual performance is measured.
2. Measurement of actual performance
- Should be done in objective and reliable manner.
- Should be measured in the same units.
- Should be done continuously during performance.
3.Comparing actual performance with standards
- Actual performance is compared with standards to find out deviations.
4. Analysing deviations
- Analysed to identify their causes.
- Critical point of control helps by focusing on key results areas that are critical to the success of organisation.
Similar questions