I. Answer the following questions in a sentence:
Q. No.- 1: What is management?
Management is the process of planning, organizing, leading, and controlling resources to achieve organizational goals efficiently and effectively.
Q. No.- 2: What do you mean by decisimaking?
.Decision-making is the process of selecting the best course of action from multiple alternatives to achieve a desired outcome.
Q. No.- 3: What is individual decision and what is collective decision?
An individual decision is made by a single person based on their judgment and preferences, while a collective decision is made by a group through collaboration and consensus.
Q. No.- 4: What is the principle of authority and responsibility in principles of management.
The principle of authority and responsibility in management states that managers must have the authority to give orders and make decisions, while being equally responsible for the outcomes of those decisions.
II. Answer each of the following questions in about four to five sentences:
Q. NO.-1: What are the principles of management suggested by Henry Fayol?
Henri Fayol proposed 14 principles of management that serve as guidelines for organizational structure and leadership. These include the Division of Work, which emphasizes specialization to increase efficiency, and Authority and Responsibility, which ensures managers have the power to give orders and are accountable for results. He also highlighted Unity of Command and Unity of Direction, advocating for clear lines of authority and consistent goals within an organization. Other key principles are Equity, stressing fairness in management, and Esprit de Corps, which encourages team spirit and unity among employees. These principles form the foundation for effective management practices.
Q. NO.-2 : What are the functional areas of management?
The functional areas of management encompass key activities that are essential for running an organization effectively. These include Operations Management, which focuses on the production of goods and services, and Financial Management, which deals with budgeting, accounting, and investment decisions. Human Resource Management involves recruiting, training, and managing the workforce, while Marketing Management focuses on promoting and selling products or services. Lastly, Strategic Management is concerned with setting long-term goals and aligning the organization's resources to achieve them.
Q. NO.-3: Write about the authority and responsibility, scalar chain and centralization in principles of management.
The principle of Authority and Responsibility in management states that managers must have the power to give orders and make decisions, but they are also accountable for the results of those decisions. Scalar Chain refers to the clear line of authority within an organization, ensuring that communication and decision-making follow a hierarchical path from top management to the lowest levels. While this chain maintains order, Fayol also emphasized the importance of allowing direct communication across levels when necessary to avoid delays. Centralization involves concentrating decision-making authority at the top levels of the organization, but Fayol noted that the degree of centralization should be balanced with decentralization, depending on the organization's needs. A mix of centralized and decentralized decision-making can provide both control and flexibility.