Question

The Managing Director of Purskar Gift Centre Pvt. Ltd., Mr. Stanely

Anthony, called a meeting of all the Departmental Managers in the

beginning of the year. In the meeting a discussion on the budget of the

following year took place. All of them promised that exactly after one

week they would present their respective budgets. After one week

once again, the meeting was held and all of them presented their

respective budgets. After a little cutting and clipping, Mr. Anthony

gave his approval of all the budgets. All became very happy. All of

them had set for themselves very big objectives. Looking at the

objectives one could say that if they were realized, the company would

be most enriched. But it so happened that thinking of so much possible

profit, all the managers became so satisfied that they forgot to put in

some special efforts for its realization. At the end of the year the result

obtained was such as no one had thought of, in other words, there was

a heavy loss.

a)Identify the concept of management described above

b) Explain the concept identified in the point ​

Answer 1

Answer:

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