Short Question and Answers

Short Question and Answers

1 Define Management? It is a process of designing and maintaining an environment in which individuals working together in groups efficiently accomplish selected aims. 2 Name the various managerial functions? Planning, Organizing, Staffing, Leading, Controlling. 3 What are the different managerial skills.? Technical skills,Human skills, conceptual skills, Design skills. 4 Define productivity? Productivity is defined as an output to input ratio within a time period with consideration for quality. 5 Define Organizing? It is part of managing that involves establishing intentional structure of rows for people to fill in an organization. 6 Define Leading? Leading is the process of influencing people so that they will contribute to organization and group goals. 7 Define coordination? It is an essence of managerial step for achieving harmony among individual effects towards the accomplishment of group goals. 8 Define Conceptual skill? It is an ability to see the ‘bi picture’ to recognize significant elements in a situation and to understand the relationship among the elements. 9 How is Managerial Roles classified? -Interpersonal Roles -Informational Roles -Decision Roles. 10 What are the different types of plans? Purpose or mission, objectives, strategies, policies, procedures, rules, programs and budget. 11 Define Goals? They are the end towards which activity is aimed or they are the results to be achieved. 12 Define Policies. They are also plans in that they are general statements which guide in decision making. They define an area within which a decision is to be made and ensure that the decision will be consistent and contribute to an objective. 13 Define procedures? They are plans that establish a required method of handling future activities. 14 Define budget? A budget is a statement of expected results expressed in numerical terms. It is referred as “numbered” programs. The financial operating budget is often called as “profit plan" 15 Define Management by Objectives? MBO is a comprehensive managerial system that integrated many key managerial activities in a systematic manner and that is consciously directed to work for effective and efficient achievement of organizational and individual objectives. 16 What is Planning Premises? The anticipated environment in which plans are expected to operate. They include assumption and forecast of the future and known condition that will affect the operation of plans. 17 Define Decision Making? It is defined as selection of a course of action from among alternatives , It is at the core of planning. A plan cannot be set to exist unless a decision has been made. 18 Define Satisficing? Picking a course of action that is Satisfactory or good enough under the circumstances. 19 Define Quantitative Factors? These are factors measured in numerical terms such as time or various fixed and operating costs. 20 Define Intangible factors? Difficult to measure numerically such as quality of labour relation, the risk of technological change or the international political climate. 21 How is Programmed Decision used? A programmed decision is applied to structure or routine proble. eg. Lathe operators have rules to tell whether the part they made is acceptable. 22 Write about Non programmed decisions? They are used for unstructured and ill defined situation of a non recurring nature. eg. Marketing a small video camera by Kodak. 23 Define Risk analysis? Decision makers dealing with uncertainty like to know the size and nature of the risk they are taking when choosing a xourse of action. Virtually every decision is based on the interaction of important variables many of which have an element of uncertainty. 24 Define Decision Support System? DSS used computers facilitate the decision making process of semistructured task. These systems are designed not to replace managerial judgements but to support it and make the decision process more effective. 25 Define Social Responsiveness? It is the ability of a corporation to relate its operations and policies to the social environment in ways they are mutually beneficial to the company and to society.