MBA and class notes

Thursday, 4 July 2013

6 Most Important Interview Question with Answer for Fresher and MBA Class Notes

6 Most important Interview Question with Answer

1.) Tell Me About your self ?

My name is Seema Verma , and I'm a senior at loreto High School, where I'm preparing to go to college for Management I'm good at public speaking, and I've been a group leader on several school projects . I want to get closer to the subject of Public Relation, so I think being the public relation officer in your office would be a good step for me.

2). What are your strengths?

My strongest strength is the ability to teach myself difficult material. Additionally, I have always excelled verbally and look forward to writing opportunities.

3). What are your weaknesses?

I tend to try to do too many things, leaving little time for myself. I have worked on balancing myself for the last several months. I am also working on improving my public speaking skills.

4). What are your Interests/ hobbies ?

Some of my interests include dogs, hiking, water sports, writing, reading (especially Chetan  Bhagat novels), skiing, drawing, crafts, and computers.

5). Which is more important to you, your salary or your job?

Salary is important, but I couldn't stay with a job that brought me misery when I could support Myself  doing something else; hence, my job is more important.

6). what kind of work environment does you like the best?

I enjoy working with friendly co-workers who can share a laugh while working hard and overachieving.

a moment is the answer to all of lifes mysteries!

Notes- this post shared here are base on my study in case you find anything wrong and missing points than please bring it to my notice.

Recommended Link

Importance Of Management

Wednesday, 13 February 2013

Planing and Its Importance in Organization.

MBA and class notes 

What is Planning ?

Planning is the process of determining the objective of administrative effort and of devising in the organization. It‘s involves in the creation and maintenance of plan. It is an endeavor to apply foresight to human activities based on research in the organization. Planning is the preparation for action to achieve organization goal.


O’Donnell and Weihrish:  “Planning is an intellectually demanding process; it requires the conscious determination of courses of action and the basing of decisions on purpose, knowledge and considered estimates.”

Urwick:  “Planning is a mental predisposition to do things in orderly way, to think before acting and to act in the light of facts rather than guesses”. Planning is deciding best alternative among others to perform different managerial functions in order to achieve predetermined goals.  
Mc Farland:  “Planning may be broadly defined as a concept of executive action that embodies the skills of anticipating, influencing and controlling the nature and direction of Change.”

Allen: “A plan is a trap laid to capture the future.”

G.R. Terry:  “Planning is the selection and relating of facts and making and using of assumptions regarding the future in the visualization and formalization of proposed activities believed necessary to achieve desired results.”

Planning is an Importance Function of Management:

Planning is the most important and primary managerial function in the organization because it determine the facts of the organization for achieving the required objectives. All functions of an organization depend upon it to achieve goal.
  • Planning gives right direction to the organization.
  • Planning increases the efficiency of an organization.
  • It helps to achieve objectives of the organization.
  • It helps management in decision making.
  • Decisions are made by the administration to ascertain activities to find the objectives.
  • Managers determine the goals and prepare strategies to achieve them.
  • Future results are fore sighted.
  • It filled the gap between where we are and where we desire to go.
  • It aids in organizing all available resources.
  • It reduces the risks involved in business activities.
  • It facilitates proper coordination between employees within an organization.
  • It is important to maintain a good managerial control.
  • It motivates the personnel of an organization.
  • It encourages managers' creativity and innovation.

Thus, planning is essential in any organization for effective management. It helps to achieve goals or target by using the available resources and time. It provides a rational approach to pre-selected objective of organization.

Its concepts is to identify what the organization what organization want to do by answering these questions, which are-
  • Where are we today in terms of business?
  • Where we are going?
  • Where we want to go?
  • What to want to do for achieving it?
  • When is the deadline?
  • Where will this be done?
  • Who will be responsible for it?
  • How will it get done?
  • How much time, energy, and resources are required to accomplish this goal?

        Nb: In near future I will be sharing a post on “ Types of Plan ”. 

Notes- this post shared here are base on my study in case you find anything wrong and missing points than please bring it to my notice.

Recommended links 

Importance Management                                                   

Spiritual Blogs

Friday, 18 January 2013

Scientific Management- (Contribution of F.W. Taylor)

Scientific Management
(Contribution of F.W. Taylor)

Frederick Winslow Taylor was first person who gave Scientific Management in 1911. He also called the father of scientific management. Scientific Management was concerned to improving the operational efficiency at the shop-floor level.

According to Taylor“scientific management means knowing exactly what you want men to do and seeing that they do it in the best and cheapest way.”

Scientific management is based on the analysis, planning and control functions. And job accomplished by analyzing, and works can selected and trained scientifically. In this, management role is to determine the kind of work for which an employee suited and hire and assign workers accordingly. Management is not responsible for execution of work but they are responsible for how the work is done. Co-operation between management and workers can enhance the work and achieve the maximum output.

Taylor called it as “Mental Revolution”, because it creates the mutual understanding, trust and confidence between the management and workers for achieving goal (higher production).

Principles of scientific Management

Under scientific management, Taylor developed the following parameters for organization.

Ø Scientific work study
Ø Task planning
Ø Tools and materials
Ø Selection and Training
Ø Standardization
Ø Worker management interrelationships
Ø Differential piece wage system

  Objective of Scientific Management

       Ø Scientific utilization of various resources like human power,       material etc.
Ø To provide trained and efficient work force.
Ø To provide standardize methods of work.
Ø To provide a scientific base for selecting material, and equipment.
Ø To provide extra wages to the worker for higher production.
Ø Replace old rule of thumbs to new scientific methods.
Ø To develop a good rapport between management and workers.
Ø To achieve higher production, with reduce costs and maximum efficiency.
Ø Less wastage.

Tuesday, 8 January 2013

Principle of management:- Contribution of Henri Fayol, Administrative Management theory in classical theory of management

 Evaluation of management
  • The Classical theory of management         

Administrative Management
(Contribution of Henri Fayol)

Henri Fayol was real father of modern Management. Henri Fayol is the French industrialist in 1841-1925. He was a mining engineer in.  Henri Fayol spent his entire working career in French industry; French cool and iron combine of commentary fourchambault. Henri Fayol developed a general theory of Business Administration.

Henri Fayol was concerned the principles of organization and the function of management. Fayol laid the foundation of management as a separate body of knowledge. He always insisted that if scientific forecasting and proper methods are used in management than company can get satisfactory results.  According to Fayol, management was not personal talent; it is a knowledge base skill. 
Henri Fayol’s Administrative Management is based on six admin activities. They are-
1.     Technical : Production and manufacture
2.     Managerial : Planning, controlling, co-ordination
3.     Commercial : Purchasing and selling
4.     Financial : Use of capital
5.     Accounting : Asset, Liabilities, cost, profits
6.     Security : Protection of goods and Person

Fayol’s fourteen Principles of management

Fayol derived the following fourteen principles.-
·        Division of work: Division of work means specialization. Each job and work should be divided into small task and should be assigned to specialist of it.    
·        Authority and responsibility: Authority means right to give order and command while responsibility means to accomplish objective.
·        Discipline: Discipline is required at every level in every organization. Fayol stated discipline in terms of obedience, application, and respect to superiors.
·        Unity of command: A subordinate should receive order from only one boss.
·        Unity of direction: It means that all the works of an organization must work together to accomplish a common objective in under one plan and head.
·        Subordination of individual interest to common interest: Worker follows the common interest of organization rather than individual.
·        Remuneration: Remuneration should be fair and adequate. It includes both types of incentives financial as well as non financial.
·        Centralization: There should be one central point in organization which exercises overall direction and control of all the parts.
·        Scalar Chain: Scalar chain is the chain or line of command from superior to subordinates.
·        Order: Only proper order can give an efficient management.
·        Equity: Equity creates loyalty and devotion among the employees.
·        Stability of tenure personnel: Security of job for an employee in an organization is very important and pre-requisite condition. Retaining productive employee should always a higher priority of management.
·        Esprit de corps: Management should encourage harmony and proper understandings between workers. Fayol said that in union there is strength. Whole organization should work as a team.
·        Initiative: Manager should be encouraged the employees Initiative for creative working.

Friday, 4 January 2013

Levels of Management and MBA Class Notes

Level of Management

Management has various activities in an organization. These activities are controlled by different people at different level. The term “level” of management refers to a lines of demarcation between various managerial position is an organization.The levels of management can be classified in these broad categories.-

Top level: 

Top management also called administrative level management. It is a central management. Top management of a company is constituted by its board of directors and the chief executive.

  • Top management formulates objectives and establishes goals and policies of company.
  • It determines the basic pattern of the organization structure.
  • It prepares strategic plans and policies for organization.
  • It prepares overall budgets and programs for short terms and long terms operations.
  • It is responsible for the success or failure of the organization.
  • It is responsible for maintain public relations with the outside world.
  • It provides guidance and direction to all department of organization.

Middle Level:

In large organization is bifurcated into two parts upper middle or intermediate management.
Middle management is constituted by branch managers, departmental and sectional managers.

  • They receive orders from top level management. and develops derivative objectives and policies.
  • They are responsible for co-coordinating the activities within the branch and department.
  • They interpret policies and direction from top level management to lower level.
  • They motivate the day to day function of the management.
  • They affect co-ordination between top management and supervisory management.
  •  They linked the top level management to lower level management.
  • They send progress report of their work to top level management.

Lower level:

Lower level is also known as supervisory or operative level. It is constituted by superintendents, foreman and inspectors.

  • They guide and direct the worker for daily activities.
  • They arrange material required by the workers.
  • They are responsible for the performance of workers.
  • They supervise and guide the sub-ordinates.
  • They ensure the quality of work completed in a given time.
  • They are planning and completing day to day work.
  • They direct contact with the workers.

Notes- this post shared here are base on my study in case you find anything wrong and missing points than please bring it to my notice.

Evolution Of management
Taylor's contribution
Classical theory
Max Weber-1900
Bureaucracy Management
Henri Fayol