Business Studies.pdf

Taylor wanted to communicate through mental revolution that managers and workers should change their mindset to work together for the betterment of the organization.
The span of management refers to the number of subordinates a manager can effectively supervise.
Two limitations of planning that led to the decline in sales of Super Fine Rice Ltd. are:
1. Inability to adapt to changing environmental conditions
2. Over-reliance on previously successful plans.
Directing takes place wherever a superior-subordinate relationship exists because it involves guiding, instructing, and motivating subordinates to achieve organizational goals.
Financial leverage is favorable when the return on investment is greater than the cost of borrowing.
The function performed by SEBI in the above case is protective, and its type is regulatory.
The consumer right that has been violated by the doctors under the Consumer Protection Act, 1986, is the right to receive fair and honest treatment.
The highest authority where Sirajuddin could appeal against the decision of the National Commission is the Supreme Court.
The main aspects in the concept of planning are:
1. Defining objectives
2. Identifying alternatives
3. Evaluating alternatives
4. Selecting the best alternative
5. Implementing the plan.
Controlling helps in judging the accuracy of standards by comparing actual performance with predetermined standards, and ensuring order and discipline by taking corrective action when deviations occur.
Two elements of directing are:
1. Guidance
2. Motivation, as stated in the lines "I just used a carrot with no sticks approach".
Three features of the money market are:
1. Short-term funds
2. High liquidity
3. Low risk.
Three points that highlight the need for consumer protection are:
1. Exploitation due to defective and unsafe products
2. Adulteration
3. Black marketing and hoarding.
Four functions of operational management are:
1. Planning
2. Organizing
3. Staffing
4. Controlling.
The step of the organizing process that has not been carried out properly is definition of jobs and related duties.
Two steps of the organizing process taken by Kanaputti to respond to the complaint of Ramdas are:
1. Clarification of working relationships
2. Allocation of jobs and related duties.
Two points of importance of organizing as reflected in the above case are:
1. Reducing workload
2. Enhancing productivity.
Four duties performed by a Human Resource Manager are:
1. Recruitment and selection
2. Training and development
3. Performance appraisal
4. Compensation and benefits administration.