IGNOU| MANAGEMENT THEORY (ECO - 03)| SOLVED PAPER – (JUNE - 2023)| (BDP)| ENGLISH MEDIUM
BACHELOR'S DEGREE PROGRAMME
(BDP)
Term-End Examination
June - 2023
(Elective Course: Commerce)
ECO-03
MANAGEMENT THEORY
Time: 2 Hours
Maximum Marks: 50
Note: Attempt any five questions. All questions carry
equal marks.
हिंदी माध्यम: यहां क्लिक करें
1. Do you agree with the view that "management is both a science and an art"? Substantiate your answer with suitable examples. 10
Ans:- Management is considered both science and art
because it combines the characteristics of both:-
Management as
an Art:-
(i) Management
has a well-defined literature necessary to gather knowledge in principles and
accelerate learning.
(ii) Many
examples are available from management literature such as Taylor's scientific
management theory and Henri Fayol's 14 principles of management. These
principles help in learning various concepts of management.
(iii)
Management knowledge can be employed by everyone in his own way, just like art
where words can be expressed in different forms of writing by different poets
and by musicians to render musical notes. Can be arranged, or colors can be
used. Painting a vivid picture by a painter.
(iv)
Furthermore, managers use various theories and principles in dealing with
situations to utilize management knowledge.
(v) Art is
related to communicating and innovating using creativity such as two artists
will paint the same scene in two different ways. Similarly, two different
managers will manage the situation differently. Sometimes managers can come up
with innovative and fresh ideas to deal with the situation.
Management as
a science:-
(i) Science is
a systematic discipline and management also has similar characteristics.
(ii) Like
science, management also depends on theories and principles to solve the issues
that arise.
(iii)
Management has a specific terminology and terms which it uses to define certain
processes.
(iv) In
science, theories are developed after long periods of observation and repeated
experiments, in the same way to some extent management also bases its theories
on regular observations and experiments, such theories are useful for
management in the long run. Provide guidelines. Will act as.
(v) Scientific
principles have universal validity, and in management also we see that
principles are universally valid to some extent, and may change according to
certain circumstances.
(vi) Such
principles and theories can be used as basic knowledge to instruct managers.
Therefore
management is a combination of both art and science.
2. Explain important features of management. 10
Ans:- Important features of management are:-
(i)
Management is a goal-oriented process: The goal of management is always to
achieve organizational objectives.
The functions
and activities of the manager lead to the achievement of organizational
objectives; For example, if the objective of a company is to sell 1000 computers,
then the manager will make an action plan, motivate all the employees and
organize all the resources keeping in mind the main goal of selling 1000
computers.
(ii)
Management is widespread: Management is a universal phenomenon. The use of
management is not limited to business firms only, it is also applicable in
profit making, non-profit, business or non-business organizations; Even
hospitals, schools, clubs and homes will have to be managed properly. The
concept of management is used all over the world be it America, Britain or
India.
(iii)
Management is multidimensional: Management does not mean one activity but
it involves three main activities:-
(a) management
of work
(b) management
of people
(c) management
of operations
(a)
Management of work: All organizations are set up to accomplish some work or
goal. Management activities are aimed at accomplishing goals or tasks. The work
or task depends on the nature of the business, for example, the work to be
accomplished in a school is to provide education, to treat a patient in a
hospital, to make some product in an industry. Management ensures that work is
completed effectively and efficiently.
(b)
Management of people: People refer to human resources and human resources
are the most important asset of an organization. An organization can win over a
competitor with skilled employees only because two organizations may have
similar physical, technological and financial resources but not human
resources. The management will have to get the work done from the public.
There are two
dimensions to managing people:-
(i) To take care
of the personal needs of the employee
(ii) To take care
of a group of people
(c)
Management of Operations: Operations refers to the activities of the
production cycle like purchasing inputs, converting them into semi-finished
goods, finished goods.
Operations
management focuses on linking the management of work with the management of
people, i.e. deciding what to do, how to do it and who will do it.
(iv)
Management is a continuous process: Management is a continuous or
never-ending task. All management functions are performed continuously, for
example planning, organizing, staffing, directing and controlling are performed
by all managers at all times. Sometimes, they are planning, then staffing or
organizing, etc. Managers perform a series of continuous functions in the
organization.
(v)
Management is a group activity: Management always refers to a group of
people involved in managerial activities. Management functions cannot be
performed in isolation. The work of management can be done only when every
person plays his role in his post and department.
Even the
outcome of management affects every person and every department of the
organization, so it always refers to the group effort and not the individual
effort of any one person.
(vi)
Management is a dynamic function: Management has to make changes in goals,
objectives and other activities according to changes in the environment.
External environment like social, economic, technological and political
environment has great influence on management.
As changes
occur in these environments, they are also implemented in the organization to
survive in the competitive world.
(vii)
Intangible: Management function cannot be seen physically but its presence
can be felt. The presence of management can be felt by seeing order and
coordination in the work environment. The presence of mismanagement is easy to
understand as it creates chaos and confusion in the organization.
For example, if
the inventory of finished products is increasing day by day then it clearly
indicates mismanagement of marketing and sales.
(viii)
Overall Process: Management involves series of tasks which should be
performed in proper sequence. These functions are not independent of each
other.
They are
interdependent on each other. Since the main functions of management are
planning, organizing, staffing, directing and controlling; Organizing cannot be
done without planning, similarly directing function cannot be executed without
staffing and planning and without knowing the plan it is difficult to control
the activities of the employees. All functions are dependent on each other,
that is why management is considered a holistic process of all these functions.
(ix)
Balancing effectiveness and efficiency: Effectiveness means achieving goals
and objectives on time. Efficiency refers to the optimum or best use of
resources. Management always tries to complete the work successfully by
balancing both. Effectiveness alone and efficiency alone are not enough for an
organization: there must be a balance between the two.
For example, if
an employee's target is to produce 100 units in a month and achieving the target
by wasting resources and mismanaging machinery will not be in the interest of
the organization. On the other hand, if the employee spends a lot of time
handling the machine carefully and managing the resources carefully and fails
to accomplish the target on time, this will also not be in the interest of the
organization. The manager sees that this target is achieved on time and with
optimum utilization of resources.
3. Describe the process of planning in an organisation. 10
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