What is the objective of ‘Time Study’?
To determine the standard time required to perform a certain job so as to fix a fair day’s work for the workman.
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.
Explain the technique of scientific management that is the extension of ‘Principle of division of work and specialisation’.
What is meant by principles of management?
State anyone principle of scientific management.
Explain any two techniques of Taylor's Scientific Management.
What is meant by ‘financial management'?
Ashutosh Goenka was working in ‘Axe Ltd.’, a company manufacturing air purifiers. He found that the profits had started declining from the last six months. Profit has an implication for the survival of the firm, so he analysed the business environment to find out the reasons for this decline.
(a) Identify the level of management at which Ashutosh Goenka was working.
(b) State three other functions being performed by Ashutosh Goenka.
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