Professional Documents
Culture Documents
UNIT-I
2. Define Partnership.
Partnership is the relationship between two or more persons who have agreed to
share the profits of a business carried on by all or any of them acting for all.
5. Define Company.
A Company is an association of many persons who contribute money or money’s
worth to a common stock and employs it in some trade or business, and who share the
profit and loss arising therefore.
A partner who wants that his name should be kept secret is called secret partners.
Silent partner is those who do not have any voice in the management of the firm.
But they share the profits and losses.
20. Define nominal partner.
Those people who only lend their name to the firm are known as nominal partner.
They neither contribute capital nor do take active part in the management.
26. A husband and wife, who were the only 2 members of a private limited company, are
shot dead by dacoits. Does the company also die with them?
1. Define Planning.
Planning is the selection and relating of facts and making and using of
assumptions regarding the future in the visualization and formalization of proposed
activities believed necessary to achieve desired result.
4. Define objectives.
Objectives are the goals, aims or purpose that organizations wish to achieve over
varying periods of time.
6. Define policy.
Policy is a means of encouraging discretion and initiative but within units. They
are predetermined decision rules applicable for a range of managerial decisions and
action.
7. Define procedures.
Procedure is defined as a set of sequential steps determined advance and
standardized for initiating, carrying through and completing a certain routine and
repetitive activity.
8. Define rules.
Rules are prescriptive directives to people in organizations and elsewhere to do or
not to do things, to behave or not to behave in particular ways. They are in the nature of
commandments, cautions, taboos and norms to discipline, to structure, standardize and
restrain individual and group behavior and task performance.
9. Define strategy.
A strategy is the determination of the basic long term goals and objectives of an
enterprise and the adoption of courses of action and the allocation of resources necessary
to carry out these goals.
10. Define program.
A program is a precise plan which lays down the operations to be carried out to
accomplish a given work. It includes all activities necessary to achieve the given
objectives and prescribes how the enterprise resource should be used.
Internal /External S W
O SO WO
T ST WT
S-Strengths ; W-Weaknesses ; O-Opportunities ; T-Threats
20. Give PORTFOLIO matrix.
Strong Weak
Market share
Objectives Policies
1. Single use plan Standing plan
2. What to achieve
3. Formulated at top level Formulated at top level, middle level, lower level
Policies Procedures
1. Guide to decision Guide to action
2. Allow discretion Do not allow discretion
3. General Statement Specific terms
Policies Strategies
1. Standing plan Single use plan
2. Decision oriented Action oriented
3. Situation is known Situation is unknown
UNIT-III
1. Define staffing.
Filling and keeping the positions provided for by the organization structure filled
with the right people is the staffing phase of the management function. It includes several
sub-functions
• Recruitment
• Selection
• Transfers and promotions
• Training
2. Define recruitment.
Recruitment is the process of searching for prospective employees and stimulation
them to apply for jobs in the organization
3. Define selection.
Selection is a deliberate effort of the organization to select a fixed number of
personnel from a large number of applicants.
5. Define interview.
Interview is a selection technique that enables the interviewer to view the total
individual and to appraise him and his behavior. It consists of interaction between
interviewer and the applicant.
9. Define directing.
Direction may be defined as a function of management which is related with
instructing, guiding and inspiring human factor in the organization to achieve the
objectives of the organization.
10. Define leadership.
Leadership is the quality of behavior of individuals whereby they guide people or
their activities in organizing efforts.
• Sales budget
• Production or output budget
• Materials budget
• Labor budget
• Factory overhead budget
• Personal budget
• Administrative overhead budget
• Selling and distribution expenses budget
• Cash budget
• Master budget.
UNIT-IV
2. Define shares.
The capital of a company is usually divided into certain indivisible units of a
definite sum. These units are called shares.
6. Define debenture.
Debenture is a certificate issued by a company under its seal acknowledging a
debt due by it to the holders of debentures.
UNIT-V
1. Define marketing.
Marketing is the business process by which products are matched with the
markets and through which transfers of ownership are affected.
8. Define training.
Training is the act of increasing the knowledge and skills of an employee for
doing a particular job.
A Quality circle is a small group of volunteers doing similar work. They meet
regularly under the leadership of their immediate supervisor, or some one chosen among
the circle to identify problems, set priorities, discovers causes and proposes solutions.
These may concern quality, productivity, safety, Jon structure, process flow, and control
mechanism, aesthetics of the work area.
Promotion
High Low
STAR PROBLEM
CHILD
CASH COW DOG
• Confidential report
• Rating scales
• Ranking system
• Paired-comparison method
• Forced-choice method
SAMPLE BIG QUESTIONS
UNIT – I
UNIT – II
• Perception of opportunities
• Establishing objectives
• Planning premises
• Identification of alternatives
• Evaluation of alternatives
• Choice of alternative plans
• Formulation of supporting plans
• Establishing sequence of activities
• Primacy of planning
• To offset uncertainty and change
• To focus attention on objectives
• To help in co-ordination
• To help in control
• To increase organizational effectiveness
4. What is the importance of procedures ?
• Procedures provide a basis for operators to know how to process the activity
without leaving loose ends in the best interests of the organization.
• Procedures help in structuring, standardizing, streaming and smoothing the
day-to-day activity in organizations and in creating a management by system.
• A standard set of operating procedure promote tidy working habit patterns in
the various units of the organization.
• They are the means of implementing organizational decisions and policies.
• They help reduce or remove administrative bottlenecks in the work flow on
a day to day basis.
• They also help expedite and accelerate clerical and paper work without
duplication and waste motion.
• A coherent set of procedures governing administrative action enables
personnel to actively involve themselves in work without feeling confused and
harassed, etc..
UNIT – III
• Intelligence
• Initiative and creative ability
• Power of judgment
• Vision and foresight
• Mental and emotional maturity
• Flexibility
• Technical competence
• Self-confidence
• Human relations attitude.
3. What is budget? Explain few non-budgetary control methods.
A budget is a statement of expected results expressed in numbers.
Barriers
Badly expressed messages ; Faulty translations ; Technical language
Unclarified assumptions ; Loss of transmission and poor retention
Inattention ; Premature evaluation ; Distrust of communicator
Filtering ; Different backgrounds ; Faulty organization
Fear ; Failure to communicate
Building effective communication
Clarity ; Objective ; Empathetic listening
Feedback ; Proper language
Consistency ; Credibility ; Adequacy
UNIT – V
Dealer’s Level
Sales meetings, Advertising materials, Contests, Store demonstrations, Dealer gifts.
Consumer’s Level
In-Store demonstrations, samples, coupons, refunds, contests, etc..
Salesman’s Level
Sales manual, contests, product demonstration, etc..