1. Discuss managerial skills and roles. Managerial roles
To meet the many demands of performing their functions, managers assume multiple roles. A role is an organized set of behavior. The roles are Informational roles: This involves the role of assimilating and disseminating information as and when required. Decisional roles: It involves decision making Interpersonal roles: This role involves activities with people working in the organization.
Management Skills
Managers at every level in the management hierarchy must exercise below three basic types of skills. Technical skills: The ability is to apply specialized knowledge or expertise. Human Skill: This is the ability to work with, understand and motivate oth er people. Conceptual Skill: This is an ability to critically analyze, diagnose a situation and forward a feasible solution.
2. Explain strategic management Strategic management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives. As this definition implies, strategic management focuses on integrating management, marketing, finance/accounting, production/operations, research and development, and information systems to achieve organizational success. The term term strategic management in this text is used synonymously with the term strategic term strategic planning. The latter term is more often used in the business world, whereas the former is often used in academia. Sometimes the term strategic management is used to refer to strategy formulation, implementation, and evaluation, with with strategic planning referring only to strategy formulation.
3. Explain management by objectives. A management system in which the objectives the objectives of an organization are agreed upon so that management that management and employees understand a common a common way forward. Management by objectives aims objectives aims to serve as a basis for (A) greater efficiency efficiency through systematic through systematic procedures procedures
(B) greater employee motivation and commitment through participation in the planning process (C) planning for results instead of planning just for work. The objectives must meet below criteria: (1) arranged in order of their importance (2) expressed quantitatively, wherever possible (3) realistic (4) consistent with the organization’s policies (5) compatible with one another.
4. Explain line and staff organizations. Line and staff organization is a modification of line organization and it is more complex than line organization. According to this administrative organization, specialized and supportive activities are attached to the line of command by appointing staff supervisors and staff specialists who are attached to the line authority. The power of command always remains with the line executives and staff supervisors guide, advice and coun cil the line executives. Personal Secretary to the Managing Director is a staff official. MANAGING DIRECTOR
↓
↓
↓
Production Manager
Marketing Manager
Finance Manager
↓
↓
↓
Plant Supervisor
Market Supervisor
Chief Assistant
↓
↓
↓
Foreman
Salesman
Accountant
6. Explain Maslow’s need Hierarchy Theory The hierarchy of needs is one of the best-known theories of motivation. Created by psychologist Abraham Maslow, the hierarchy is often displayed as a pyramid, with the most basic needs at the bottom and more complex needs at the peak. The four lowest-level needs are what Maslow referred to as D-needs . These needs are due to a lack of something and need to be satisfied in order to avoid unpleasant feelings and to move on to higher level needs. The uppermost needs in the hierarchy are referred to B-needs and involve the desire to grow as an individual and fulfill one’s own potential. Maslow’s hierarchy of needs
1. Biological and Physiological needs 2. Safety needs 3. Belongingness and Love needs 4. Esteem needs 5. Self-Actualization needs
7. Explain balanced score card. The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and no nprofit organizations worldwide to align business activities to the vision and strategy of the org anization, improve internal and external communications, and monitor organization performance against strategic goals. It was originated by Drs. Robert Kaplan and David Norton as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more 'balanced' view of organizational performance. While the phrase balanced scorecard was coined in the early 1990s, the roots of the this type of approach are deep, and include the pioneering work of General Electric o n performance measurement reporting in the 1950’s and the work of French process in the early part of the 20th century.
Q.4.Controlling Controlling involves ensuring that performance does not deviate from standards. Co ntrolling consists of three steps, which include (1) establishing performance standards, (2) comparing actual performance against standards, and (3) taking co rrective action when necessary. Controlling Techniques
A. Tr aditional Techni ques
1. Observational techniques
manager appoint authorities who observes other employees . They also note the actual performance of employee and they report it to manager after manager decides whose performance is weak and how to improve it .
2. Statistical repor t company analysis the statistical data in the form of mean, median and mode also analysis the standard variation and correlation and find what are shortcoming in planning and try to control it . 3. Break even point analysis Company sells their product up to the break even point because it is point where total cost equals to total sale value and company can get any loss . 4. Budgetary control :The company managers make budget like production budget , sale budget , finance budget and research and development budget after this actual performance is measure with budget amount .
M odern techniques of Controll ing
1. MIS In the management information system raw data is collected from direct or indirect sources and then after classification of data , different analysis is rendered by compan y managers and after this company managers provide information about favorable and unfavorable position of company's diff erent planning’s .
2. Management audit system This auditing which is done by chartered accountant and company manager can used it as technique of controlling management . 3. Return on investment Return on investment means capacity of earning profit on total investment which is invested by company . It is very scientific technique of controlling . 4. Responsibility accounting Responsibility accounting is that controlling technique in which d ifferent responsibility center’s are created by company managers and its name are cost center , profit center and investment center . After this every center is responsible for their cost .
Q.5. organizational behavior The study of the way people interact within groups. Normally this study is applied in an attempt to create more efficient business organizations. The central idea of the study of organizational behavior is that a scientific approach can be applied to the management of workers. Organizational behavior theories are used for human resource purposes to maximize the output from individual group members.
Organizational Behavior Is Interesting
Organizational behavior is about studying and understanding people and human nature. Do employee ever make efforts on behalf of their employing organization’s interests or fellow employees’ interest when it is not in their direct self -interest to do so? This question exists in any organization must be address. The problem addressed here is a conflict of self-interest. The question here should be very interesting to people in organization. People should try to understand and address counterintuitive behavior in c ertain situation (Young 1998). For instance, why does moral hazard exists in organization? Organizational behavior success or failure depends on its goal setting, such as group cohesiveness and productivity. In a case stud y of 2 groups several researchers have suggested that goal acceptance moderates the relationship between group cohesiveness and group productivity. In Study 1, goal acceptance was found to moderate the relationship between group cohesiveness and the quantity of performance of 40 machine crews in a paper mill located in the northeastern United States. In Study 2, the ex tent to which leaders fostered the acceptance of group goals was found to moderate the relationships between group cohesiveness and quantitative measures of group productivity in 71 insurance agency units located throughout the United States. The companies’ success or failure in this study will be explained in organizational behavior (Jacob 1985).
Q.8.TEAM A group of people with a full set of complementary skills required to complete a task, job, or project. Types Of team
Three common types of teams include functional or departmental, cross-functional, and self-managing.
Functional or departmental teams: Groups of people from the same work area or department who meet on a regular basis to analyze customer needs, solve problems, provide members with support, promote continuous improvement, and share information. Cross-functional teams: Groups of people who are pulled together from across departments or job functions to deal with a specific product, issue, customer, problem, or to improve a particular process. Self-managing teams: Groups of people who gradually assume responsibility for self-direction in all aspects of work. Making Teams More Effective
Focus on performance Give the team a real performance challenge to address rather than setting up a committee to talk about an issue. Give them a clear purpose Avoid being vague about the purpose. Be crystal clear on what the purpose is. If it is to reduce the cycle time by two hours on a process make it clear that this is what the purpose is. Get the right skills You are setting up a team to fail if you don’t ensure it has the right mi x and blend of skills in the team. Support in addressing skill deficiencies If you are the team leader, make sure you address skill deficiencies rather than let them be a barrier. Create conditions for effective teamwork You need to ensure that the team is truly dependent on each other to deliver and that the performance and reward structures are geared towards team rather than individual performance.
Teams have the potential to deliver exceptional performance.
Q.7'Leadership' The ability of a company's management to make sound decisions and inspire others to perform well. Effective leaders are able to set and achieve challenging goals, to take swift and decisive action even in difficult situations, to outperform their competition, to take calculated risks and to persevere in the face of failure. Strong communication skills, self-confidence, the ability to manage others and a willingness to embrace change also characterize good leaders. Below listed are the key Characteristics and Traits observed of effective leaders
1. Focused
It’s important to eliminate distractions from the work area and to hone in o n the key issues at hand. While leaders are often pulled in numerous directions simultaneously, they must be able to retain clear minds and focus on the things that matter.
2. Passionate
Leader enthusiasm and level of commitment can inspire your team members and motivate them to do better work.
3. Assertive / Confident
Assertive leaders are firm and bold, unafraid to go after what they want. Such a level of certainty and confidence will serve both leader and their team well as helps tackle larger challenges and go after new goals.
4. Decisive
a decisive leader should never be confused with an impulsive one. A decisive leader carefully weighs the potential effects of each option and chooses the opportunity that works best for h is or her team.
5. Empowering
Supporting your team is one of the best ways to encourage members to perform well. Empower each individual by making it clear that you trust his or her judgment.
7. Communicative
Always keep your team informed about what’s going on. A lack of communication promotes the spread of false information and resentment among your team members.
8. Self-Aware
It can be tough to retain a strong sense of yourself and the way you appear to others, but focus on being self-aware. Consider your strengths and weaknesses as objectively as possible
9. Humble
Effective leaders are down-to-earth and easy to rel ate with. People feel more comfortable connecting with a leader who is humble and compassionate.
10. Honest
Finally, effective leaders are honest. Be upfront with your team members and trust them enough to communicate openly and authentically together.
