Short Answer TypeTo make the annual function of the school successful the principal of the school divided all the activities into task groups each dealing with a specific area like rehearsals, decoration, stage management, refreshments etc. Each group was placed under the overall supervision of a senior teacher. Identify the function of management performed by the Principal in doing so. Â
Besides the investment decision the finance function is concerned with two other broad decisions. Name these decisions. Â
A textile company is diversifying and starting a steel manufacturing plant. State with reason the effect of diversification on the fixed capital requirements of the company.
Name and define the process that helps in finding possible candidates for a job or a function.Â
Neha was a regional sales manager in ‘Good Look Garments Ltd’ for ten years. On the retirement of the marketing manager Neha applied for the same post as she was extremely ambitious and had dedicated all her energies to obtain the post of marketing manager. However, the top management of the company decided to fill this post by selecting a better person from outside the company. Because of this Neha was heart-broken and her performance declined.
When the new marketing manager joined, one of her major problems was how to motivate and inspire Neha to her former level of performance?
Suggest any three non-financial incentives that the new marketing manager may use to motivate Neha.
Non-Financial incentives that the new marketing manager may use to motivate Neha are:
1) Job Enrichment: Job enrichment is concerned with designing jobs that include greater variety of work content, require higher level of knowledge and skill; give workers more autonomy and responsibility; and provide the opportunity for personal growth and a meaningful work experience. If jobs are enriched and made interesting, the job itself becomes a source of motivation to Neha.
2) Employee Recognition programmes: Employee recognition means, evaluation of their work and due recognition. Recognition means acknowledgment with a show of appreciation. Neha can also be motivated by this program.
3) Employee participation: Neha must be made involved in decision making of the issues related to her. In many companies, these programmes are in practice in the form of joint management committees, work committees, etc.
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Explain how does the understanding of business environment help the management in the following:
(a) Tapping useful resources; andÂ
(b) Coping with rapid changes
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