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Correct option is (a) Classical conditioning

Correct option is (c) Conceptual skills

Correct option is (c) Human

Correct option is (b) impression management

Correct option is (b) Contingency Theory.

Correct option is (b) Inventory

To ensure the continued efficiency and profitable functioning and growth of enterprise, extra managerial ability is required.

An entrepreneur can undertake following activities to expand his enterprise: 

1. Raising the level of production: By raising the level of production, the volume of the product produced increases. This leads to expansion in increasing the number of employees. With the increase in the strength of the employees, the expansion takes place provided it is associated with the rise in production. 

2. Adding more machines: By adding new machines to the existing ones, the turnover also increases. This is referred to as expansion. 

3. Opening an ancillary unit: If the product of one company can be used as raw material for the other product, then a new enterprise can come into existence which is dependent on the main. If the parent company and the ancillary unit are of same enterprise, it is also leading to expansion.

Correct option is (c) Increase in personnel turnover.

Correct option is (c) Increase in personnel turnover

Correct option is (b) Flexibility

Correct option is (c) Protecting shareholders interests

Correct option is (a) Peter F Drucker

Karl Marxis regarded as the Father of Marxism.

Correct option is (b) Henri Fayol.

Correct option is (d) Elton Mayo.

Fayol introduced general principles of management. Some of them have been explained below

(a) Unity of Direction : All the units of an organisation should be moving towards the same objective. Each group of activities having the same objective must have one head and one plan. If a company is manufacturing both motor cycles and cars, then it should have two separate divisions for both of them. Each division should have its own in charge. Plans and execution resources. Their working should not overlap.

(b) Equity : This principle emphasises kindliness and justice in the behaviour of managers towards workers. This will ensure loyalty and devotion. Lazy personnel should be dealt sternly and strictly. There should be no discrimination against anyone on account of gender, religion, caste, language or nationality. All decisions should be merit based. Now a days we see in multinational companies, people of various nationalities work together in a discrimination free environment. For example, India born CEO Rajat Gupta heads Mckinsey Inc.

(c) Espirit de Corps: This principle emphasises on building harmony and team spirit among employees. In a large organisation with a large work force, teamwork is very important. Teamwork leads to better co-ordination while working. The head of each team should give credit for good result to the whole team rather than confining it to themselves.

(d) Order: A place for everything and everyone in his/her place. Basically it means orderliness. If there is a fixed place for the different things in a factory and they remain in their places, then no time is wasted in locating them. In the same way if every personnel is allocated an area to operate from then their co-workers, head or subordinates, can contact them easily.

(e) Centralisation and Decentralisation: Concentration of decision making authority in a few hands is centralisation and its dispersal among more number of people is decentralisation. Fayol believed that an organisation should not work with anyone of them in isolation A combination of both is important. Simple, easy and routine work should be decentralised and critical important – work should be centralised In our country village panchayats have been given more powers to decide and spend funds granted to them by the Government, for the welfare of their concerned villages. This is decentralisation at the national level.

(f) Initiative: Initiative means taking the first step with self-motivation. Workers should be encouraged to develop and carry out their plans for improvements. According to Fayol, initiatives should be encouraged. A good company should invite suggestions from employees which can result in substantial cost/time reduction. Rewards can be given to fruitful suggestions.

Correct option is (a) Abraham Maslow

Unity in direction: 

(a) According to this principle, there should be one head and one plan for a group of activities having the same objectives 

(b) This principle promotes smooth co-ordination of activities, effort and resources towards a common goal. 

(c) Example: - Suppose an automobile company has 3 division’s cars, scooters and three wheeler. Now each division has its own target since, each product have its own market and problems.

EQUITY 

(a) “Good sense and experience are needed to ensure fairness to all employees, who should be treated as fairly as possible,” according to Fayol. 

(b) Equity refers to fair treatment of all workers in an organisation. Fair treatment involves kindness and justice on part of the superiors on dealing with their subordinates. 

(c) Example: we find Indian born CEO’s such as Rajat Gupta heading multinational like McKinsey Inc.

Esprit de Corps: 

(a) Management should promote a team spirit of unity and harmony among employees, according to Fayol. 

(b) It refers to team spirit. Managers should take steps to develop a sense of belonging among the members of a work group. 

(c) Example: this principle states that the unity is strength and the managers should infuse the spirit of team work in their subordinates.

Order: 

(a)According to Fayol, “people and materials must be in suitable places at appropriate times for maximum efficiency.” 

(b)Order refers to a systematic arrangement of materials and placement of people in the organisation. 

(c)Example: production manager may be allotted an office room in a factory, the typist a particular table, the foreman to supervise a particular workshop

Centralisation and Decentralisation: 

(a) Centralisation of authority refers to relative concentration of authority for decision making especially at top managerial level. 

(b) Decentralisation of authority refers to relative dispersal of authority specially among the lower managerial levels to felicitate operational decision making 

(c) Example: panchayats in our country have been given more power to decide and spend funds granted to them by the government for the welfare of the villages. This is decentralisation in national level.

Imitative: 

(a) This principle states that: 

• Subordinates should be given an opportunity to take initiative in making an executing the plan.  
• Subordinate with initiative should be encouraged within the limits of authority and discipline 

(b) Example: Every employee has the right to give suggestion about any matter of the organisation but once a decision is taken on any issue there is no scope for disobedience.

(i) Functional Foremanship 

•  In the factory system, foreman represents the managerial figure with whom the workers are in direct face-to-face contact on a daily basis. 
• Thus Taylor concentrated on improving the performance of this role in the factory set-up. 
• Functional foremanship is a technique which involves supervision of a work by several specialist foreman 

(ii) Mental revolution: 

• It involves a change in the attitude of workers and management towards one another from completion to cooperation 
• Both should realize that they need one another. Both should aim to increase the size of surplus. This would eliminate the need of any agitation. 
• Management should share apart of surplus with workers. Workers should also contribute their might so that the company makes profit. This attitude is good for both of them and also for the company. 

(1) Tagore draws a picture of a free nation with religious or caste based boundaries. – True

(2) The poem is an offering to God, a prayer where the poet prays for a country which is a heaven of freedom. – True

(3) In India, people had gained freedom in all spheres during British rule. – False

(4) Tagore longs for an undivided world where there is tolerance among the people and the courage to speak truth at any cost. – True

(5) ‘Dead habits’ refer to the superstitious beliefs and deeds that are ‘dead’ means we don’t need them any more. – True

By the words ‘where knowledge is free’, the poet wants to say that in his country, everyone should have the freedom to aquire knowledge without any restriction. The restrictions imposed on the spread of knowledge include the prejudices based on wealth, caste and religion.

The following steps can be taken 

i. Eliminate unnecessary movement in doing a work; 

ii. Conduct “Fatigue study” and provide rest intervals to employees so as to enable them to regain lost stamina; 

iii. Use ‘differential piece wage system’ in which efficient and inefficient workers are paid at different rates. It will motivate the workers to put in their maximum efforts.

(c) Everyone has unrestricted access to knowledge.

(a) There is a harmony and unity among people.

(a) Where people are truthful and words come out from their hearts.

Correct option is (a) implies

Correct option is (c) what you should do.

To understand the above statement we have to understand what ‘freedom’ is. Our mind is free only when it is in a state to fully accept the beauties of environment. This is possible only when the mind is not preoccupied.

Mind is sensitive to extraordinary beauty. Real freedom is being free from all influences. Social influences, cultural influences, parental influences, religious influences, etc.

These are dominating factors. These influences create fear and fear deprives us of freedom, Fear makes us aware of mistakes. We commit mistakes when we are unable to accept the- full domination of unfluences.

When we commit a mistake we are actually excercising freedom because we are doing away with the yoke of influences. The question of making mistakes does not arise as we are doing what our conscience tells us to do. Here we have achieved freedom.

1. (i) The new ball cannot bring childhood memories and a sense of belonging to the boy.

2. (ii) The loss of ball teaches him to be responsible and importance of material possessions.

3. (ii) The boy is sad and upset about losing his ball.

4. (iv) World full of materialistic things.

5. (iii) The name of the poem is The Ball Poem and the poet is John Berryman.

Unending effort to freedom of thought and action is the urgent requirement of time. Education redeems us from slavery. It helps us to be our own selves and understand what we actually are.

This will bring about transformation. Fear comes as a result of influences which in return lead to slavery. A strong urge leads to slavery. We have to fight for freedom instead of being a prisoner all the days of life.

The individual who acquires the right to operate the business or use the trademark of the seller is known as tire franchisee.

(d) Time and money

(a) Cheap labour

(b) Cost reduction

(d) Distribution

1. Decision – wise 

2. Actor – wise 

3. Inbound logistics

4. Outbound logistics.

E – commerce or Electronic commerce is the buying and selling of goods and services through electronic networks like internet.

Organisations taking proactive managerial attention in coordinating the actors in logistics leads to reduced logistics costs and improved customer service.

Logistics Management is defined as ‘Design and operation of the physical, managerial, and informational systems needed to allow goods to overcome time and space (from the producer to the consumer)’.

1. The firm enters into a factoring arrangement with a factor, which is generally a financial institution, for invoice purchasing. 

2. Whenever goods are sold on credit basis, an invoice is raised and a copy of the same is sent to the factor. 

3. The debt amount due to the firm is transferred to the factor through assignment and the same is intimated to the customer.

1. Product /trade name franchising : In this type, the franchisee exclusively deals with a manufacture’s product, example Kidzee, French Loaf outlets. 

2. Business format franchising : When a franchisor awards rights covering all business aspects as a complete business package to the franchisee it is called as business format franchising, example McDonald’s, Pizza Hut.

Franchising fees: The initial franchising fee and the subsequent renewal fee can be very high in case of successful businesses. From the franchisee’s point of view, this may be a deterrent. Fixed royalty payment: The franchisee has to make payment of royalty to the franchiser on a regular basis. This considerably reduces the income of the franchisee.

Logistics can be viewed as a logical extension of transportation and related areas to achieve an efficient and effective goods distribution system.

Generally a good transportation, storage, handling and information infrastructure helps in efficient logistics management. All firms are viewed as a collection of primary and secondary activities,

There are Two types of franchising primarily.

BPO means getting contractual services of external companies or group of companies to complete special work or process of a company. 

For example call centres, data entry etc. This reduces the expenditure by using cheap labour available in developing countries like India, China etc.

1. Maintenance of book – debts : A factor takes the responsibility of maintaining the accounts of debtors of a business institution. 

2. Credit coverage : The factor accepts the risk burden of loss of bad debts leaving the seller to concentrate on his core business 

3. Cash advances : Around eighty percent of the total amount of accounts receivables is paid, as advance cash to the client.

4. Collection service : Issuing reminders, receiving part payments, collection of cheques from part of the factoring service. 

5. Advice to clients : From the past history of debtors, the factor is able to provide advises regarding the credit worthiness of customers, perception of customers about the products of the client, etc.

1. Franchise relationship is based on an agreement which lays down terms and conditions of this relationship. 

2. The term of franchise may be for 5 years or more. The franchise agreement may be renewed with the mutual consent of the parties. 

3. The franchisee gives an undertaking not to carry any other competing business during the term of the franchise; and the franchiser gives an undertaking not to terminate the franchise agreement before its expiry except under situations which may justify the termination of the franchise agreement. 

4. The franchisee agrees to pay specified royalty to the franchiser, as per terms of the franchise agreement. 

5. Franchise means selling the same product and maintaining a similar type of shop decor (i.e. style of interior decoration) for which franchiser provides assistance to franchisee in organising, merchandising and management.

1. Buyers could have a global access to information about variety of products and services available in the market. 

2. They could buy the products/services round the clock from anywhere in world. 

3. The prices of products bought through e – commerce tend to be relatively lower than those purchased physically in the conventional shops due to offers, discount etc.