Question

Saurabh Jain set up a telecom business in Nasik“ Ketone' with an ambitious target of reaching
out to 90% of the Indian population within one year. He chose this business on the belief that
the demand for data services will increase 4 times within the next 2-3 years. To fulfill such an
ambitious target, he had to either acquire an existing telecom business or collaborate or go
independent aggressively in the light of tough competition.
He assessed the proposals of different companies vis-a-vis earnings per share, taxes, dividends
paid etc. and their future projections knowing fully well that the projections may change if the
country's economic policies get modified.
The above paragraph discusses some of the steps of one of the functions of management. By
quoting the lines from the above paragraph, explain these steps in chronological order.
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Answer 1

Answer:

1. setting up of objective

2. developing premises

3. identifying alternative courses

4. evaluating alternative courses

Answer 2

Answer:

To explain the steps for the function of management in chronological order we need to specify the following:

1. objectives must be set
2. premises for the objectives must be developed
3. alternative must be sought for course of action
4. alternative sought, must be evaluated.

Explanation:

To quote the lines for the above mentioned steps, here are the following for the same:

1. objectives must be set

"Saurabh Jain set up a telecom business in Nasik“ Ketone' with an ambitious target of reaching out to 90% of the Indian population within one year."

Setting up the objective is necessary to bring about the wish to be achieved by the organization, setting it up for entire organization or each heads or unit underneath.

2. premises for the objectives must be developed

"He chose this business on the belief that the demand for data services will increase 4 times within the next 2-3 years."

Premises are the assumption on which plans are drawn for the future which are made by the managers.

3. alternative must be sought for course of action

"To fulfill such an ambitious target, he had to either acquire an existing telecom business or collaborate or go independent aggressively in the light of tough competition."

There may be many ways to achieve objectives, such should have a contingency plan as well.

4. alternative sought, must be evaluated.

"He assessed the proposals of different companies vis-a-vis earnings per share, taxes, dividends paid etc. and their future projections knowing fully well that the projections may change if the country's economic policies get modified."

Merit and demerit of that contingency plans must be evaluated in ambit of its consequences and feasibility.