Please read each question carefully. Each question is worth 10 points. Define the concept of management. Describe the major functions of the management process and why they are important. Describe the...

Please read each question carefully. Each question is worth 10 points.
1. Define the concept of management. Describe the major functions of the management process and why they are important. Describe the roles of the manager as outlined by Mintzberg.
Solution:
The concept of management is different when used with different perspective. The objective of any business is to maximize the profit and management helps in achieving that profit. Management is the art of getting things done by others.
Major functions of management process are – planning, organizing, staffing, directing, co-coordinating, reporting, controlling and innovation. These functions are important due to the following reason –
· Management is said to be the
ain of the business without which it cannot perform
· Management helps in creating new technology which helps in developing the business
The roles of manager as outlined by Mintzberg are – Monitor, Disseminator, Spokesperson, Figurehead, Leader, liaison, entrepreneur, distu
ance handler, resource allocator and negotiator.
2. Describe the five major factors that have influenced the evolution of management thought. Identify the five major perspectives of management thought.
Solution:
The five major factors that have influenced the evolution of management thought can be summarized as follows:
(1). Global Influences: Factors that relate to pressures to improve quality, productivity and costs as firms desire to compete in the world market.
(2). Economic Influences: Factors that relates to availability, production and distribution of resources within the society.
(3). Social Influences: Factors which relates to aspects of culture that have the influence on interpersonal relationships.
(4). Technological Influences: Factors which relates to refinement and advances in any devices in any of the devices used in conjunction with conducting business.
(5). Political Influences: Factors which relates to the impact of political institutions on individuals and organizations.
3. Describe the major behavioral perspective contributions of Follett, Mayo, McGregor, and Barnard.
Solution:
· Follett: According to follett the role of mangers is not to force people to do some work but is to harmonize the group efforts.
· Mayo: He is popular in the management science for its Hawthorne Effect. In nut shell this theory states that people in an organization are influenced when they feel that managers are paying some attention towards them. It means that managers should understand the people working under him in an organization.
· McGregor: Douglas McGregor is famous for its Theory X and Theory Y. as per these two theories managers react to a situation on the basis of his assumption about the subordinates.
· Barnard: Barnard is more concerned about communication in conducting operations. This is also used in setting objectives.
4. Define the concept of corporate social responsibility. What are the two premises advanced by Bowen in his original definition of social responsibility?
Solution:
Corporate social responsibility (CSR) is the responsibility of the company to conduct its operation in accordance with the development of the social responsibility. CSR aims that the company should contribute towards the society at large. As the name suggest CSR is not an obligation but a responsibility of the corporate.
Bowen stated that CSR is based on two premises – social contract and moral agent.
5. Define strategic management. Describe the process of strategic management. How are the four stages of the process inte
elated? Describe the three grand strategies discussed, as well as the generic strategies. Explain how an organization can establish a competitive advantage.
Solution:
In this present globalised world organization need to create superior value customers and this is done by formulating long term strategies. The overall objective of strategic management is two fold –
· To obtain advantage among the competitors so that the company can out perform
· To make the company capable in facing challenges
The entire process of strategic management and its inte
elation is discussed as under –
· In the first step the company has to analyze where it stands i.e. the company has to analyze its strength and weakness this is usually done by performing a SWOT analysis.
· In the second step the company needs to set the goals for the organization this is usually done after forming the vision and mission
· In the third step the company need to analyze the various...