The concept of management discussed in the paragraph above is Coordination.
Coordination is the process of organizing and harmonizing the activities of different individuals, teams, or departments to achieve a common goal. It involves ensuring that all parts of an organization work together smoothly and efficiently, preventing conflicts and ensuring that resources are utilized effectively.
In the case of 'Cortico Fabrics,' Ashish is ensuring that there is an orderly pattern of group efforts among different teams, which operate in various regions of India. To achieve this, he spends considerable time developing coordination strategies that allow the eight teams—two each for North, South, East, and West India—to work together towards a common purpose.
Ashish's efforts to allocate tasks suitably among team members and to maintain harmony within the teams is an example of coordination. By balancing the teams at different locations, he ensures that their efforts are aligned with the overall goals of the company.
The management concept discussed in the paragraph is Coordination, which refers to the process of ensuring that all team members and teams work together in harmony to achieve the common objectives of the organization.
(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).
(A) Explain the following reactions and write chemical equations involved:
(a) Wolff-Kishner reduction
(b) Etard reaction
(c) Cannizzaro reaction
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).
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