STRIVE TO EXCELL IN BUSINESS STUDIES

Case Studies_Chapter_1_ Nature and Significance of Management (ANSWERS ARE GIVEN AT THE END)  Q. 1. Aditya is working as ‘Operations Manager’ in Tifco Ltd. Name the managerial level at which he is working.  State any four functions he will perform as ‘OperationsManager in this company.    (5 marks) Q. 2. Anita Ltd’s target is to produce 10000 shirts per month at a cost of Rs. 100/- per shirt.  The Production Manager achieved this target at a cost of Rs. 90/- per shirt.  Do you think the ‘Production Manager’ is effective?  Give one reason in support of your answer.(1 mark) Q. 3. Geeta Ltd. is facing a lot of problems these days. It manufactures electronic goods like washing machines, microwave ovens, refrigeration and air-conditioners. The company’s margins are under pressure and the profits and market marketing department blames production department for producing goods, which are not of good quality to meet customers’ expectations.  The finance d...

CHAPTER_2_ PRINCIPLES OF MANAGEMENT  Meaning: Principles refers to a statement which reflects the fundamental truth about some phenomenon. Management principles are derived on the basis of observation and analysis of events which managers have to face in actual practice.  Definition :  As defined by H.G Hicks, “Principles of management are the guiding rules or laws for managerial action.”  Principles of management are broad and general guidelines for decision making and behaviour of managers. Nature of Management Principles:  1. Universal Applicability:  Principles of management are universal in nature. They have universal application in all types of organizations and in all places like business organizations, police force, sports clubs, family etc.  2. General Guidelines :  Management principles are derived from experience and analysis and they are in the form of mere statements. These statements are guidelines for action but not provide solutio...