Mb0038-Assignment-Spring-2013
Q1. Describe the concept of vision and mission in an organization.
Ans:> Well, there has been a lot of research on this and various views. But Collinsand Porras in their noted article ‘ Organisational Vision and Visionary Organisation ’ spelt out that a vision statement has to have four parts. namely: 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
Ans:> Well, there has been a lot of research on this and various views. But Collinsand Porras in their noted article ‘ Organisational Vision and Visionary Organisation ’ spelt out that a vision statement has to have four parts. namely: 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