ALL ASIGNMENT ON

SUBMITTED BY :-
VISHNU PORWAL

PRINCIPLE & PRACTISE

OF MANAGEMENT
SUBMITTED TO :-
MS. SHARADHA NAIN
 PART-A

1. “Management is getting things done from others”. Elaborate.

Management:-

“How to plan, organize, lead and control resources (people, money,

Material and information) in order to achieve organizational goals

Efficiently and effectively”

Importance of Management:-

 Management is a critical element in the economic

growth of a country.

 It is the dynamic, life-giving element in every

organizational– coordinates present with future.

2. Comment on “Management is both an art as well as science”?

Management is both a science and an art:

For concluding weather management is art or science, following points can be referred:

 Management has a separate systematized knowledge. it has a subject matter of

its own that can be passed through teaching learning process.but,it is
multidisciplinary. It has borrowed its subject matter from the various sources.

 Just a science, management also has its own principles which are based on
proper observations and conclusions but are not scientific.

 Scientific principles have universal application which can be applied any where in
the world but principles of management can be applied only after making
necessary modification as per the circumstances.
  Predictions & verification of the result can be done in management but not with
cent percent accuracy as it can be done in science. This is because human
element is involved in management.

In conclusion, it can be said that management is both a science & an art.

3. Explain BCG Matrix.

BCG Matrix:-

 Management evaluates each of the Co’s business units in terms of the market-
place and I nternal structure.

 After evaluation, an appropriate strategic role is developed for each unit to

improve the performance.

 BCG Matrix; focuses on 3 aspects of a business unit

(i) Its sales,
(ii) Growth of its market,:
(iii) Whether it absorbs or produces cash in its operations

 It tries to balance among business units that use up cash and those that
generate cash.
.
 LION What next?

(moderate positive or negative (large negative cash flow)

cash flow)

CASH COW
DOG

(large positive flow) (Modest positive or negative cash

flow)

Market High Low

Growth

Rate relative market share

Description of above table

• Lion: Indicates extra investment in order to keep up with the market’s rapid
growth. May consume more cash than is currently being earned by it.

• Cash cow: does not require large investment.

 • Question mark: uncertain and expensive venture, very large investment.

• DOG: Moderate supplier of cash, if such unit incurs losses for a no. of years, it
could be sold off.

4. Define strategic planning?

Strategic planning:-

Strategic planning is the process of deciding on the objectives of

the organization, on changes in these objectives, on the resources used to attain
objectives and on the policies that will govern the acquisition, use and disposition
of these resources.

Steps in Planning Process :-

 • Establishing objectives

• Collecting and forecasting information

• Development of planning premises (Assumptions about the future)

• Search of alternatives

• Evaluation of alternatives

• Selection of Plan and development of derivative plans.

TYPE OF STRATEGIC PLANNING:

STRATEGIC PLANNING

SINGLE USE STANDING

Single use plans: (Programmes & budgets)

Programmes: Programmes are precise plans are drawn in conformity with the
objectives and are made up of policies, procedures, budgets etc.

Budgets: budgets are decided particular amount which can be afforded by business
man for his organization.

Standing plans: (polices, procedure, method & rules)

Polices: General guideline for decision-making. It sets up the boundaries around
decisions.

- Provide just a framework

- “How to do work?”

Type of polices:

 On the basis of source.

-Originated policies

- Appealed policies

- Implied policies

- Externally imposed policies

 On the basis of functions.

Procedures- detailed set of instructions for performing a sequence of actions. A way to

implement policies.

Methods: A prescribed way.

Rules: detailed and recorded instructions that a specific action must or must not be
performed.

PART-B

5.Explain the Hawthorne Experiments?

Hawthorne Study:-

The Hawthorne studies (or experiments) were conducted from

1927 to 1932 at the western electric Hawthorne works in Chicago; which was engaged
in producing bells and other electrical equipments for telephone industry.
Experiment: He concluded a series of experimental & observational studies in the plant
and conducted employee interviews. There were:

 Illumination experiments : To find out the effect of illumination on worker

productivity;
 Relay assembly test room experiments ; to find out the effect of changes in
working condition and hours;

 Mass interviewing programme: To find out worker attitude & sentiments.

 Bank wiring observation room experiments: To find out social aspect of work
organization.

RESULT OF THE EXPERIMENTS :

To his amazement, Elton mayo discovered a general upward trend in

production, completely independent of any of the changes he made. with each & every
change, the output increased. Regular medical checks showed no signs of cumulative
fatigue and absence from work declined by 80 percent.

IMPLICATION:-

Elton mayo opened a new chapter in management by suggesting

management through good human relation.

Following are the implications of the experiments.

 SOCIAL FACTOR IN OUTPUT: an organization is not merely a formal structure

where production is determined by official prescription. It is a structure in which
production norms are set by social norms.

 GROUP INFLUENCE: Management can not deal with workers as individuals but
as members of work group; influenced by the group.

 LEADERSHIP: After the Hawthorne experiment, it was observed that a superior

is more acceptable as a leader if he can associate himself with the workers.
 COMMUNICATION: last but not the least; it was observed that communication
plays an important role in any organization. Through communication. Workers
can be sought in decision making, problems faced by them can be identified and
attempts can be made to solve them.

 SUPERVISION: It is an important element in determining output of an

organization. Productivity would be more if the supervisor is friendly, attentive,
genuine and empathetic.