Inspired by the success of Chandrayaan-3, the Chief Scientist at ‘Space Rover’ a private research group, decided to send some innovative ideas regarding the mission to the Chief Scientist of Chandrayaan-3. The Chief Scientist at ‘Space Rover’ formed four groups for the same. As it was an intellectual activity of thinking rather than doing, these four groups started interacting with each other and friendships developed. On the basis of their interaction and friendship, some members from each group formed ‘Entertainment Through Reading’ group which showed conformity in terms of their interest. ‘Entertainment Through Reading’ group had no written rules, was unstable in form and scope and had no fixed lines of communication. The members of this group enhanced the morale of each other, enjoyed drinking coffee together, read books, served different issues of their work areas and provided support to each other. Ultimately this group developed some innovative ideas which were sent by ‘Space Rover’ to the Chief Scientist of Chandrayaan-3. Though this group was formed for recreation but it contributed towards fulfillment of organisational objectives.
(a) Identify the function of management. Quoting the lines from the above para, explain the steps of the process of the function of management discussed.
(b) Also explain any two points of importance of the function of management identified in (a).
The function of management discussed in the paragraph above is Organizing.
Organizing is the management function that involves arranging resources and tasks in a structured way to achieve organizational objectives. It includes establishing a framework for task allocation, resource utilization, and establishing relationships between different individuals or teams. The organizing process typically follows a sequence of steps to ensure that everything is properly aligned for optimal performance.
Quoting the lines from the paragraph:
“The Chief Scientist at ‘Space Rover’ formed four groups for the same. As it was an intellectual activity of thinking rather than doing, these four groups started interacting with each other and friendships developed. On the basis of their interaction and friendship, some members from each group formed ‘Entertainment Through Reading’ group which showed conformity in terms of their interest."
This illustrates the first step of the organizing function, which is defining objectives and establishing a structure. The Chief Scientist forms groups with specific tasks related to innovative ideas, and the interaction between groups leads to the formation of a new group, highlighting the dynamic nature of organizing.
The next steps of the organizing function are:
(a) Identify and explain the function of management discussed in the above para.
(b) Explain any four points of importance of the function identified in (a).
Explain the following factors affecting the working capital requirements of a business:
(i) Credit allowed
(ii) Production cycle
(iii) Availability of raw material
Explain the following points of significance of principles of management:
(i) Providing managers with useful insights into reality
(ii) Meeting changing environment requirements
(iii) Scientific decisions