Management Theory & Practices Broad Question

1. What do you mean by leadership? Discuss the styles of leadership. Ans: Leadership: Leadership is the art of motivating a group of people to act towards achieving a common goal. Discuss the styles of leadership: Autocratic Leadership: The Autocratic Leader gives orders which must be obeyed by the subordinates. Employees are motivated High-volume production needs Limited time for decision making Advantages Disadvantages Quick and Clear Decisions Lack of Motivation Satisfactory Work Agitation by Employees Necessary for Less Educated Employees Possibility of Partiality Democratic/Participative Leadership: Democratic leadership solicits employees participation and respects their opinions. To keep employees informed To encourage employees to share in decision-making and problem-solving Complex problems that require a lots of input Advantages Disadvantages High Morale Requirement of Educated Subordinates Creation of More Efficiency and Delay in Decisions Productivity Availability of Sufficient Time for Lack of Responsibility in Managers Constructive Work Free-rein/Laissez-Faire Leadership: Free rein leadership gives employees a high degree of independence in their operations. Employees are highly skilled, experienced, and educated Employees have pride in their work and the drive to do it successfully on their own Employees are trustworthy and experienced Advantages Disadvantages Development of Self-confidence in Difficulty in Cooperation Subordinates High-level Motivation Lack of Importance of Managerial Post Helpful in Development and Extension of Employees lose focus & direction the Enterprise Paternalistic Leadership: When employees are not experienced & their skills need to be nurtured & improved. When employees need to be monitored & motivated to do better. Advantages Disadvantages Loyalty Err & it can be disaster Low turnover Dependency upon the leader.

2. Describe corporate social responsibilities. Ans: Created by - Redwan Ferdous ID: 122-503-042 Page 1 of 4

Management Theory & Practices 3. What is planning? Discuss the stages of planning. Ans: Planning: Planning is the first step of management process concerned with the establishment of objectives and analysis of present limitations for attaining such goals. Stages/Steps of planning: (1) Being aware of opportunity In light of: -The market -Competition -What customer wants -Our strengths -Our weaknesses (5) Comparing alternatives in light of goals sought Which alternative will gives us the best chance of meeting our goals at the lowest cost and higher profit?

(2) Setting objective or goals Where we want to be and what want to accomplish.

(6) Choosing an alternative Selecting the course of action we will pursue.

(3) Considering Planning Premises In what environment -Internal or external-will our plans operate?

(7) Formulating supporting plans Such as plans to: -Buy equipment -Buy material -Hire and train workers -Develop a new product

(4) Identifying Alternatives What is the most promising alternative to accomplishing our objective?

(8) Numberizing plans by making budgets Develop such budgets as: -Volume and price of sales -operating expenses necessary of plans -expenditures for capital equipment

Stages/Steps of planning

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Management Theory & Practices 4. Define span of control? Factors Influencing the Span of Management. Ans: The number of employees a manager directly supervises; also called span of management. Factors Influencing the Span of Management: Span will be Narrow under the circumstances: Training of subordinates Unclear authority delegation Unclear plans for non-repetitive operations Non-verifiable objective and standards Fast changes in external & internal environment Ineffective interaction of superior & subordinate Ineffective meetings Incompetent & untrained manager Complex task Immature subordinates Span will be Wide under the circumstances: Through training of subordinates Clear delegation to Well-defined plans for repetitive operation Verifiable objective used as standards Slow changes in external & internal environment Effective interaction of superior & subordinate Effective meetings Competent & untrained manager Simple task Mature subordinates

5. What do you mean by centralization and decentralization? Discuss the differences between centralization & decentralization. Ans: Centralization: The process of transferring and assigning decision-making authority to higher levels of an organizational hierarchy. Decentralization: Decentralization refers to the pushing down of decision-making authority to lowest levels of an organization. Differences between centralization & decentralization: Centralization Environment is stable Lower-level managers are not as capable or experienced at making decisions as upper-level managers. Lower-level managers do not want to have say in decisions Decisions are significant. Organization is facing a crisis or the risk of company failure. Company is large. Effective implementation of company strategies depends on managers retaining say over what happens Decentralization Environment is complex, uncertain. Lower-level managers are capable experienced at making decisions. and

Lower-level managers want a voice in decisions. Decisions are relatively minor. Corporate culture is open to allowing managers to have a say in what happens. Company is geographically dispersed. Effective implementation of company strategies depends on managers having involvement and flexibility to make decisions

6. What is coordination? Discuss the importance of coordination. Ans:

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Management Theory & Practices Short Question 1. System approach to the management process. Ans: System approach to management is basically collation of data in a certain way that help management to facilitate decision.

2. Controlling process. Ans: The Basic control process involves the following steps: Establish Standards & methods for Measuring Performance Measure the Performance Determining whether performance matches the standards Take Corrective Action Establish Standards & methods for Measuring Performance Take Corrective Action & Re-evaluate Standards

Measure Performance

Does Performance match the Standards? Yes Do Nothing

No

3. Maslows motivation theory. Ans:

4. Line and staff authority. Ans: Line Authority: Line authority entitles a manger to direct the work of an employee. Staff Authority: Staff authority is used to support, assist, and advise the holders of line authority. 5. Define ethical theory. Ans: Ethical theory provides a system of rules or principles as a guide in making decisions about what is right/wrong and good/bad in a specific situation. Created by - Redwan Ferdous ID: 122-503-042 Page 4 of 4