Management Assignment - Answer 1

Decision making can be viewed as check and parity framework that keeps the association developing both in vertical and straight ways. It implies that decision making process is always looking for an objective. The objectives are pre-set business goals, organization missions and its vision.

The three reasons that can be identified as where managers often making satisfying decisions rather than optimal decisions can be listed as:

Managers perceive that optimal decision makers are short on the capacity and assets to show up at an ideal arrangement of optimality. As for example the optimal decisions require more amount of resources whereas the other does not require abundance of resources.
Since optimal decision are time consuming and in conducting businesses time cannot be spend on that much amount on arriving at decisions so they tend to go for the satisfying decisions rather than the optimal decisions. For instance in times of risks the managers opt for the satisfying decisions as at that time there is not sufficient time to arrive at optimal decisions.
To arrive at optimal solution what generally happens is people start doubting their choice that they made. But this should not happen in case of running businesses as they decisions there have to firm. So, this is the other reason as why managers make satisfying decisions. This mostly happens in case of variety of materialistic things and ideas.

Management Assignment - Answer 2

Chain of command- a chain of command is an illustration of who is in charge of who and shows where one should report to. The link between the chain of command and authority is that the person in charge of another is said to have control. Hence, the chain of command shows who has authority over the other. For example, an employee reporting to a manager shows that the manager has authority over the employee.
Delegation of authority- is the process of transferring tasks or responsibilities from one employee to another. The person making the transfer of the responsibilities has authority over the receipt of the responsibilities. For example, a manager may delegate responsibilities or tasks to an employee. This shows the manager has authority over the employee.

iii. Degree of centralization- this is the measure of how decision making and authority is conducted within one level of an organization. Therefore, if decisions are made at one level of an organization, it means that the level has the authority to make decisions over other levels. For example, the decision-making process may be centralized at the top management level, meaning that the top managers have the authority to make decisions over other medium and low-level managers.

Management Assignment - Answer 3

Recruitment and Selection are the two most important steps in HRM process.

Recruitment is positive processes which attracts the qualified personnel and stimulate them to apply for the notified jobs in the organisation whereas selection is the process of selecting the best candidates from the pool of applicants who have applied for the job in the recruitment process. Recruitment persuades every individual who possess the qualifications mentioned in the recruitment notification to apply for the job. Recruitment notification or job vacancy notification try to persuade every qualified person to apply by giving them a clear picture of nature of the job, the range of salary and privileges of such a job in the organisation. Candidates will be persuaded to apply if they meet required qualifications and if they find the job meets their expectations like in terms of job status, high salary, potential for growth and name of the organisation etc.

Selection is the process of choosing the most suitable candidates from all the applicants. This process starts immediately after recruitment. Selection is done by testing the candidates by various methods to know whether the applicants possess the required academicals, physical and mental qualifications for the job.

The steps mainly include interviews, various intelligence, aptitude and personality tests, group discussions etc.

Selection process is said to be negative process because it is a process of eliminating the unqualified individuals.

Management Assignment - Answer 4

Motivation in simple words can be defined as the wants and powers that force people to make a move towards accomplishing a specific objective. Motivation is the most important component in an individual achieving their objective and goals.

Intrinsic rewards can be understood as those rewards originate from inside a labourer, for example, a feeling of accomplishment, achievement and a feeling of joy whereas extrinsic rewards are defined as those rewards that quiet are obvious and unmistakable and that are given to a worker for accomplishing a specific objective, for example, an honour, public acknowledgment or a pay raise.

Managers and administrators can utilize both the types of rewards that are intrinsic and extrinsic to persuade representatives in an organization. Directors can advance intrinsic motivation among the representatives through giving important work and giving them a stage to screen their advancement en route. With the help of such an activity, workers feel in charge of their work and along these lines can appreciate inherent rewards. To top it up, administrators can likewise include extrinsic motivation within their staff as well for example openly perceiving staff members that achieve their objectives. Compensation raise and grants can likewise be put forth a valiant effort. Using both intrinsic and extrinsic rewards would advance motivation of the workers.

Management Assignment - Answer 5

Transformational leadership can be understood as that leadership that can inculcate positive changes in the individuals who follow it. These leaders are commonly lively, eager, and enthusiastic. Not exclusively are these leaders concerned and engaged with the cycle; they are additionally centered on helping each individual from the group to individually succeed and grow in their lives.

Three ways in which they can make followers follow them are as follows:

Giving them instructions and coaching yet permitting workers to settle on choices and take responsibility for. For example conducting workshops, seminars to train them and encourage them in their lives.
By establishing an organization culture by urging employees to move from a mentality of personal benefit to an attitude where they are working for the benefit of all. For example this can happen by incorporating a good structure of communication and creating an environment of harmony in the company where they are relaxed and they take their superiors as their own.
Another way is by epitomizing moral principles inside the association and energizes the equivalent of others. This can happen by implementing a code of conduct in the organization. For example- set rules and regulations for conducting oneself.

Management Assignment - Answer 6

Control can be defined as regulation of activities within an organization so that a targeted element of performance will be achieved. It involves regulating the resources of an organization so that the goal of the organization is achieved.

Feed forward control involves control at the input level and it anticipates problems and thus helps in preventing them. It is a future directed control. Examples of feed forward controls are inspecting new raw materials or doing a pre-employment drug testing.

Concurrent control occurs at the processes level and it focuses on correcting problems as they occur and as they happen. This type of control takes place while as an activity is in progress. Here management attempts to correct problems before they go out of hand and before it becomes too costly to handle or manage. For example when fleet tracking is done by a company when it is out in the field by making use of GPS then it will allow the managers of the company to monitor the company vehicles on real time basis.

Feedback control occurs at the output level. It focuses on correcting problems after they occur. Here the control takes place after the action is done. For example suppose that managers of a company prepare financial ratios like solvency ratio, liquidity ratio, leverage ratio etc. to determine the financial health of a company.

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