1) Core values,
2) Core purposes,
3) The Big Hairy Audacious Goal or BHAG (pronounced as ‘ Beehag ’) and the vivid description.
Let us now discuss each of these parts in detail.
The core values are those things very close to your heart that you will not give up at any cost. It can be integrity (for example, l will never cheat on the taxes I have to pay) or quality (l will never use a lower quality wood), etc. Usually we say that you should have only 4 to 6 core values. Of course, personal values and business values may differ.
Q2. (a) Define planning.
(b) Explain the importance of planning.
Ans:>a:> Planning can be defined as a basic management function which enables one to select the purpose of the business, and how the resources should be mustered to achieve that purpose to include using the available resources optimally to do that. Planning implies goal setting for the organisation keeping in mind the constraints, opportunities, and threats as much as what the person or business which is planning wants to do. Thus, a plan is a blueprint for goal achievement, a blue print that specifies the necessary resource allocations, schedules, tasks, and other actions to achieve the purpose.
b:> Planning is important for the following reasons: - It helps the management to clarify, focus, and research their businesses or project's development and prospects. - It provides a considered and logical framework within which a business can develop and pursue business. - It offers a benchmark against which the actual performance can be measured and reviewed. - It plays a vital role in helping to avoid mistakes or recognise hidden opportunities.
Q3.(a) Why leading is important?
(b) What are the characteristics of leading?
Ans:> a:> Leading or leadership function is said to be the heart of management process. Therefore, it is the central point around which accomplishment of goals take place. A few philosophers call leading as “Life spark of an enterprise”. It is also called as an actuating function of management because it is through direction that the operation of an enterprise actually starts. Being the central character of an enterprise, it provides many benefits to a concern which are as follows. 1. Initiates actions
2. Sustains action
3. Integrates efforts
4. Means of motivation
5. Provides stability
6. Copes with the changes
7. Utilises resources efficiently
b:> Leading is a function that every manager and supervisor does in an organisation. So, what could be the role of leading? First people fill up the role in various activities ( organising )and only then the process of leading commences. Some of the important roles of a leader are: 1. Planning role
2. Managing role
3. Guiding role
5. Inspector role
6. Connselling role
Q4.(a) Define organization be haviour (OB).
(b) What are the limitations of OB?
Ans:> a:> OB can be defined as a systematic study that investigates the impact of individuals, groups and organizational factors on productivity to include effectiveness and efficiency, absentee, turnover, organizational citizenship behavior and job satisfaction. 1. By systematic study we mean looking at relationships and attempting to attribute causes and effects, and drawing conclusions based on scientific evidence. 2. By productivity we means a performance measure that includes both effectiveness ( achievement of goals ) and efficiency ( ratio on output versus input required to achieve it ). 3. By absenteeism we mean failure to report to work especially without informing. 4. By turnover...