BST BOARDS

All questions that are important or that I find hard to remember

Fayol vs Taylor

PERSPECTIVE

PERSONALITY

EXPRESSION

FOCUS

UNITY OF COMMAND

APPLICABILITY

BASIS OF FORMATION

significance of PoM

1. Providing managers with useful insights into reality

2. Optimum utilisation of resources and effective administration

3. Scientific decisions

4. Meeting changing environment requirements- flexible - core of mgnt theory

5. Management education training research

6. Fulfilling social responsibility- increased awareness, newer contemporary meanings

Demonetisation features

1. Tax admin- unaccounted wealth penalty rate

2. Tax compliance- shift on the part of govt

3. savings into formal fin sys- BD, IR

4. cash less economy

Advantages of Functional Structure

1. Specialization in occupational roles leading to improved skills.

2. Enhanced control and coordination due to similarity of tasks.

3. Increased managerial and operational efficiency through clear hierarchies.

4. Minimal duplication of resources which leads to economies of scale and lower costs.

5. Easier training due to a limited range of skills concentrated in departments.

6. All functions receive due attention.

Disadvantages of Functional Structure

1. Function empire creation can result in power being overemphasized.

2. Coordination problems may arise between departments.

3. Conflict of interest can occur, hindering collaboration.

4. Functional heads may exhibit inflexibility due to lack of diverse experience.

Advantages of Divisional Structure

1. Improved product specialization allowing for focused expertise.

2. Clear accountability for profit and performance measurement promotes responsibility and action.

3. Greater flexibility and autonomy in decision-making.

4. Supports expansion and growth opportunities.

Disadvantages of Divisional Structure

1. Conflicts regarding allocation of funds can arise, risking profits at the expense of other departments.

2. Increased costs due to duplication of resources and efforts across divisions.

3. Manager dominance can lead to unhealthy competition among divisions.

Formal Advantages of Structure

• Easier to fix responsibility with clearly defined mutual relationships.

• Eliminates ambiguity and avoids duplication.

• Maintains Unity of Command (UOC) through a clear chain.

• Ensures effective accomplishment as everyone knows their role.

• Fosters stability by making employee behavior predictable.

Formal Disadvantages of Structure

• Can lead to procedural delays.

• Does not recognize or foster creative talent, resulting in rigidity.

• Places little emphasis on human relationships.

Informal Advantages of Structure

• There are no prescribed lines of communication, which can enhance social needs.

• Promotes job satisfaction and a sense of belonging.

• Compensates for inadequacies in formal structures, fulfilling organizational objectives.

Informal Disadvantages of Structure

• Can foster rumors which act as a destructive force.

• May lead to opposition that delays or restricts growth.

• Pressures members to conform to group expectations.

Importance of Delegation

• Enables effective management through empowerment of employees.

• Promotes employee development and career progression.

• Enhances motivation by building trust and self-esteem.

• Facilitates organizational growth by preparing a ready workforce for leadership.

• Establishes a clear management hierarchy and improves coordination by reducing duplication.

Importance of Decentralization

• Fosters initiative and confidence among subordinates.

• Aids in developing managerial talent for the future.

• Allows for quick decision-making since those nearest to the situation can act.

• Relieves top management from routine decisions.

• Facilitates organizational growth through healthy competition.

• Enables better control by holding departments accountable for results.

Internal Sources - Merits

• Motivates employees

• Simplifies the process of selection and placement

• Serves as a tool for training

• Adjusts surplus staff effectively

• More economical than external sources

Internal Sources - Demerits

• Reduces the scope for induction of fresh talent

• Employees may become lethargic due to time-bound promotions

• Incomplete source for new enterprises

• Lacks spirit of competition

• May reduce productivity

External Sources - Merits

• Fosters competitive spirit among candidates

• Offers a wider choice of applicants

• Provides access to qualified personnel

• Brings in fresh talent

External Sources - Demerits

• Can be costly

• Typically involve lengthy hiring processes

• May create dissatisfaction among existing staff

Importance of T&D to Organization

• Encourages systematic learning, avoiding hit and trial methods

• Leads to higher profits through quantity and quality improvements

• Equips future managers for potential emergencies

• Reduces absenteeism and employee turnover

• Provides effective responses to changes in the environment

Importance of T&D to Employees

• Enhances career advancement opportunities

• Increases potential earnings

• Improves efficiency in handling machines, reducing accidents

• Boosts morale and job satisfaction

on the job training

• internship- regular studies, practical knowledge. joint programme

• apprenticeship- trainee and master work

• coaching- trainee and coach, senior manager

• job rotation

• induction- few hours to days

off the job training

• class room lectures

• films

• case studies

• computer modelling

• vestibule training

• programmed instructions (courses and certifications)

importance of controlling

1. acomplishing org goals

2. efficient use of resources

3. ensuring order and discipline

4. motivation of employees

5. facilitating coordination in action

6. judging accuracy of std- a good control system enables mngmt to verify whether stds set are accurate and objective

status

authority responsibility rewards recognition prestige perquisities

org climate

• individual autonomy

• reward orientation

• consideration to emoloyees

• risk taking

financial planning importance

• avoiding business shocks and surprises

• detailed POA- gaps in planning, dupli, wastage

• present and future

• financing and investing

• coordinating diff business functions together

• evaluation of actual perf easier- spelling out detailed obj for various business segments

e-IPO conditionals

• SEBI registered brokers have to be appointed

• Issuer company appoint a registrar to the issue having electronic connectivity with the exachange

• applu for listing, other than the one mandatory one

• lead manager coordinates all activities amongst intermediaries

advantages of branding to marketers

• product differentiation

• differential pricing

• advertising

• ease in introduction of new products

advantages of branding to customers

• product identification

• quality

• status

functions of financial markets

• allocative function- mobilising

• facilitating price discovery- dd and ss

• providing liquidity to financial assets- purchase and sale

• reducing cost of transaction

function of secondary markets

• Ensures liquidity and marketability to existing securities- ready and continuous market

• Spreading equity cult

• Scope for speculation- liq and pricing continuity

• Safety of transactions- watchdog

• Pricing of securities- constant valuation instant information

regulatory functions of SEBI

• registration of brokers and sub brokers

• registration of cisf and mutual funds

• regulation of stock brokers, underwriters, portfolio exchanges and other securities markets

• regulation of takeover bids

• calling for information by undertaking inspection, audits, enquiries

• levying fees or other charges for carrying out purposes of act

• performing and exercising such power under act as delegated by gov

Delegation vs decent

NFSSP

nature- compulsory act, no individual….op policy decision

freedom of action- more control by superiors…less control

scope- narrow-limited to superior and imm subordinate….wide extension of delegation to the lowest point

status- sharing tasks…policy dec

purpose- lessen burden of managers…increase role of subordinates

Employee Development

• Focuses on decision making. • Creates better leaders and managers. • Enables employees to use their skills. • Helps employees gain experience. • Promotes personal development.

Motivation of Employees

• Involves psychological factors. • Fosters esteem and belongingness. • Builds trust and commitment among team members.

Develops Initiative

• Encourages initiative through self-reliance. • Boosts confidence in abilities. • Constantly challenges employees. • Nurtures potential to become dynamic leaders.

Managerial Talent for Future

• Creates a reservoir of talent. • Includes individuals who may not have succeeded in greater responsibilities. • Supported by management education. • Provides opportunities for growth.