Managerial Function and Process-Concept and Foundations of Management [IAS (Admin.) Mains Management]: Questions 1 - 5 of 5
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Question 1
Explanation
BCG Matrix
The BCG Matrix, Boston Consultancy Group Matrix is a model for a product՚s life cycle or a business portfolio which has two dimension to it namely Market Share or Market Growth and help allocating product՚s position in one of the four quadrants of the matrix.
Dogs
These are the products with low market share and low market growth, it is bes…
… (272 more words, 7 figures) …
Question 2
Appeared in Year: 2014
Describe in Detail Subjective▾
What is the difference between selling and marketing? Explain with example
EditExplanation
Selling and Marketing
- Marketing and Sales are important aspects in business.
- Both are inevitable activities in any organization.
Difference
- Marketing is considered to be a wider term than sales. It includes identifying customers, producing innovative products, branding, advertising, public relations, sales, etc. Thus, sales are just a stage or an activ…
… (191 more words, 9 figures) …
Question 3
Describe in Detail Subjective▾
Defines the process of management? What are their approaches and levels?
EditExplanation
Management is the process of conducting a set of functions to get the work done effectively and efficiently. It comprises:
Planning
Organizing
Staffing
Directing
Controlling
We Can Define Its Functions or Process through a Diagram
Planning
It is mainly related to our thinking process in which we have to decide what to do, how to do…
… (146 more words, 74 figures) …
Question 4
Describe in Detail Subjective▾
What is control function in management and what is the process? how can one make management controlling more efficient?
EditExplanation
Controlling has always been understood as looking back, unlike planning which is looking forward. Controlling plays a vital role in ensuring that all the management functions implemented in the organization are being followed and performed smoothly. It helps in analyzing the ongoing processes, identifying any deviations which are there, working on …
… (278 more words) …
Question 5
Describe in Detail Subjective▾
Briefly describe the principles of scientific management and administrative management. What assumptions do these perspectives make about workers? To what extent are these assumptions still valid today?
EditExplanation
Management is the contribution of various other disciplines such as Economics, Sociology, Psychology, Anthropology, Statistics. According to Mary Parker Follet, “Management is the art of getting things done through other people.”
Early classical approaches to understand management are represented by scientific management and administrative managemen…
… (1421 more words) …