Subject code: MB 0038
Subject: management process and organisational behaviour
Q1. Describe the concept of vision and mission in an organisation. Ans :
(a) Define planning.
Ans: Planning is defined as a basic management function which enables us to choose the purpose of the business and how resources should be allocated and managed in the most optimal way .Planning implies goal setting of an organisation keeping in mind various factors like opportunities, constraints, threats and what the business or the person wants to achieve. A goal is a desired result or future outcome that an organisation attempts to reach .Goals are important as it defines and states a purpose to the organisation .Thus planning can be said to be the blue print of goal achievement for an organisation .It’s a blue print that specifies the required resource allocation the various task and schedules the action needed to achieve the purpose of the organisation .Here we can state clearly that the method we choose to achieve the vision and execute the mission is called planning . (b) Explain the importance of planning.
Ans: Planning is important for the following reasons:
(a) It helps the management to clarify focus and research their businesses’ future development and prospect. (b) It provides a logical framework within which the business can develop and continue functioning. (c) It offers a benchmark against which the actual performance can be measured and reviewed. (d) It helps in avoiding past mistakes and recognize hidden opportunities (e) In the context of business it guides the development of products management finances and most importantly market and competition. (f) It helps in forecasting the future and makes it visible to some extent. (g) It’s a road map between where we are and where do we want to reach.
Q3. (a) Why leading is important?
Ans: Importance of leading is as follows:
(a) Initiates action: Leading is...
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