B.COM DCM 1105 PRINCIPLES OF BUSINESS MANAGEMENT

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SESSION FEB 2024
PROGRAM BACHELOR OF COMMERCE (BCOM)
SEMESTER I
COURSE CODE & NAME DCM1105 – PRINCIPLES OF BUSINESS

MANAGEMENT
CREDITS 4

 

 

Assignment Set – 1

Questions

 

  1. Define manager. Describe the characteristics of the manager.

Ans:

According to Mc Farland, “Management is defined for conceptual, theoretical and analytical purposes as that process by which managers create, direct, maintain and operate purposive organisation through systematic, co-ordinated co-operative human effort.”

 

Management involves mainly managing resources and people in the most effective manner to achieve pre-determined aims.

 

The main characteristics of management:-

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  1. Describe the steps in strategic planning.

Ans: Strategic Planning Process:-

 

Let us discuss these steps.

 

  1. Initiate the planning: In the first step, an organisation must address certain issues to find out if it is ready to begin the strategy planning.

 

For this, an organisation need to:

 

  1. i) define the issues or choices to be addressed in the planning;

 

  1. ii) Define the roles;

 

 

  1. Differentiate between Open System and Closed System.

Ans:

The concepts of open and closed systems are fundamental in various fields, including organizational theory, management, systems theory, and even thermodynamics.

 

Here’s a detailed differentiation between open systems and closed systems:

 

Open System

 

 

Assignment Set – 2

Questions

 

  1. Differentiate between formal and informal organisations.

Ans:

Differences between Formal and Informal Organisations:-

Formal Organisations Informal Organisations
They are developed by top management They are developed due to the desire of people of belongingness. Top management has no role in their formation.

 

  1. “To be a great leader one must possess various qualities to lead the followers successfully and earn their trust, respect, and loyalty.” Comment.

Ans:

The assertion that a great leader must possess various qualities to lead followers successfully and earn their trust, respect, and loyalty is widely recognized and supported in leadership theories and practices. Effective leadership is not merely about holding a position of power but involves a complex interplay of personal attributes, skills, and behaviors that inspire and motivate

 

 

  1. Discuss the principles of good coordination in an organisation.

Ans:

PRINCIPLES OF COORDINATION

 

  • Direct person-to-person contact: Direct contact amongst the responsible persons in an organisation promotes coordination through inter-personal connections, the exchange of ideas, and replies, as well as communication. Personal relationships result in agreement on techniques and actions, as well as the speedy and effective achievement of corporate goals. Direct connections facilitate the removal of misunderstandings, the resolution of conflicts between the

 

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