What is meant by ‘financial management'?
Financial management means efficiently acquiring, allocating and using funds. It is concerned with the investment, financing and dividend distribution decisions.
A firm has taken the decision to employ more male employees than female employees because they can work overtime in case of excess work. Which values are being affected here?
An organisation proposes the use of CFL’s and LED’s which consumes less electricity than normal bulbs for its lighting arrangements. Which value is attained by the organisation?
An organisation has done plantation around its factory premises and only after purifying the wastes, it throws it into the drains. Which values are being followed by the organisation?
An entrepreneur wants to start his business in backward area because government gives many incentives and rebates in taxes. Which results in low cost and he will be able to sell the product at low prices. There he will be able to get large area by deforestation. Which values are being affected here?
What is the objective of ‘Method Study’ as a technique of scientific management?
Principles of Taylor and Fayol are mutually complementary. One believed that the management should not close its ears to constructive suggestions made by the employees while the other suggested that a good company should have an employee suggestion system whereby suggestions which result in substantial time or cost reduction should be rewarded.
Identify and explain the principles of Taylor and Fayol referred in the above para.
Name and explain the principle of management according to which a manager should replace 'I' with 'We' in all his conversations with workers.
Explain 'Harmony Not Discord' as a principle of Scientific Management.
Principles of Taylor and Fayol are mutually complementary. One believed that the management should not close its ears to constructive suggestions made by the employees while the other suggested that a good company should have an employee suggestion system whereby suggestions which result in substantial time or cost reduction should be rewarded.
Identify and explain the principles of Taylor and Fayol referred in the above para.
Explain how the principles of management:
a. Provide useful insights into the reality and
b. Help in thoughtful decision making.
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