Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Balbharti Maharashtra State Board Organisation of Commerce and Management 11th Textbook Solutions Chapter 8 Introduction to Management Textbook Exercise Questions and Answers.

Maharashtra State Board 11th Organisation of Commerce and Management Solutions Chapter 8 Introduction to Management

1. (A) Select the correct option and rewrite the sentences

Question 1.
Management is ………………….
(a) dynamic
(b) static
(c) selective
Answer:
(a) dynamic

Question 2.
Management uses …………………. method of observation.
(a) unscientific
(b) artificial
(c) scientific
Answer:
(c) scientific

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 3.
To help top level management in co-ordinating the activities is the function of …………………. level management.
(a) middle
(b) lower
(c) top
Answer:
(a) middle

Question 4.
To look after maintenance of machinery is the function of …………………. level of management.
(a) top
(b) middle
(c) lower
Answer:
(c) lower

Question 5.
Management is …………………. oriented action.
(a) policy
(b) profit
(c) goal
Answer:
(c) goal

1. (B) Match the pairs

Question 1.

Part A Part B
(a) Management (1) Need of creativity
(b) Management as a profession (2) Can be seen.
(c) Top level management (3) Administration
(d) Management as an art (4) Intangible
(e) Lower level management (5) Formal education
(6) Policy framing.
(7) Implementation of policies
(8) Selective
(9) Directing subordinates to complete the task
(10) Cause effect relationship

Answer:

Part A Part B
(a) Management (4) Intangible
(b) Management as a profession (5) Formal education
(c) Top level management (6) Policy framing.
(d) Management as an art (1) Need of creativity
(e) Lower level management (9) Directing subordinates to complete the task

1. (C) Give one word / phrase / term

Question 1.
The art of getting things done through others.
Answer:
Management

Question 2.
The second level of management.
Answer:
Middle level

Question 3.
Systematic body of knowledge.
Answer:
Management as a Science

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 4.
The level of management related to Managing Director.
Answer:
Top level management

Question 5.
Level of management that link top level and lower level management.
Answer:
Middle level management

1. (D) State True or False

Question 1.
Management is an ancient activity.
Answer:
True

Question 2.
Management is not objective oriented.
Answer:
False

Question 3.
In small organization also management is required.
Answer:
True

Question 4.
Middle level management forms policy of an organization.
Answer:
False

Question 5.
Various principles and techniques are used in management.
Answer:
True

1. (E) Find the odd one

Question 1.
Management is an – art, a science, a commerce, a profession.
Answer:
a commerce

Question 2.
Management as an Art – Singer, Actor, Dancer, Doctor.
Answer:
Doctor

Question 3.
Management as Profession – Doctor, Chartered Accountant, Lawyer, Singer.
Answer:
Singer

Question 4.
Level of Management – Lower Level, Middle Level, Top Level, High Level.
Answer:
High level

Question 5.
Top Level Management – Board of Directors, Presidents, Purchase Manager, Chief Executive Officer (CEO).
Answer:
Purchase manager

Question 6.
Middle Level Management – Departmental Head, Finance Manager, Production Manager, Supervisor.
Answer:
Supervisor

Question 7.
Lower Level Management – Supervisor, Foreman, Finance Manager, Office Superintendent.
Answer:
Finance Manager

1. (F) Complete the sentences

Question 1.
The English verb ‘manage’ came from Italian word ……………….
Answer:
Maneggiare

Question 2.
To manage is to forecast, to plan, to organize, to command, to co-ordinate and to ……………….
Answer:
control

Question 3.
Organization is a group of person who work together to achieve a ……………….
Answer:
common goal

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 4.
Link between the top level and lower level of management is called as ……………….
Answer:
middle level management

Question 5.
Lower level management works under ……………….
Answer:
middle level management

Question 6.
Art is the bringing about a desired result through the application of ……………….
Answer:
skills

Question 7.
Any knowledge which is scientifically developed and consists of universally accepted principles is known as a ……………….
Answer:
science

Question 8.
Science is based on systematic experiments, on certain rules and on ……………….
Answer:
principles

Question 9.
Teacher, Doctor, C.A., Lawyer comes under the term ……………….
Answer:
profession

1. (G) Select the correct option

(Finance Manager, Art, CEO, Profession, Supervisors)

Part A Part B
(1) Top level —————-
(2) —————– Lower level
(3) Middle level —————-
(4) ————- Doctor
(5) Singer —————-

Answer:

Part A Part B
(1) Top level CEO
(2) Supervisors Lower level
(3) Middle level Finance Manager
(4) Profession Doctor
(5) Singer Art

1. (H) Answer in one sentence

Question 1.
What is called as management?
Answer:
Getting work done through others is called as management.

Question 2.
Name, the levels of management?
Answer:
Top level, middle level and lower level are the three levels of management.

Question 3.
What is top level management?
Answer:
The level of management that decides the long term objectives of organization and frame the plans and policies and take decisions is called as top level-management.

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 4.
What do you mean by middle level management?
Answer:
The level of management which is concerned with implementation of plans and policies in the organization with the help of lower level management is known as middle level management.

Question 5.
What is lower level management?
Answer:
The level of management which is considered to do actual execution of plan is called as lower level management.

Question 6.
What do you mean by an art?
Answer:
An art means skill of individual, creativity, regular practice, personal abilities and innovativeness.

Question 7.
What is science?
Answer:
Science is a systematic body of knowledge and scientific methods.

Question 8.
What is the meaning of a profession?
Answer:
Profession means an individual having adequate knowledge and abilities which is helpful to handle different situations. They are trained people having formal education in management school and have a code of conduct.

1. (I) Arrange in proper order.

Question 1.
Middle level management, Top level management, Lower level management.
Answer:
Top level management, Middle level management, Lower level management.

Question 2.
Departmental Head, CEO, Supervisors, Managing Director.
Answer:
CEO, Managing Director, Departmental Head, Supervisors.

Question 3.
Office clerk, Shareholders, Managing Director, Board of Director.
Answer:
Shareholders, Board of Directors, Managing Director, Office clerk.

1. (J) Correct the underlined word and rewrite the following sentences

Question 1.
Management is only an art.
Answer:
Management is an art, a science and a profession.

Question 2.
There are five levels of management.
Answer:
There are three levels of management.

Question 3.
Lower level management works under top level management.
Answer:
Middle level management works under top level management.

Question 4.
Middle level management works under lower level management.
Answer:
Middle level management works under top-level management.

Question 5.
Management is pure science.
Answer:
Management is a social science.

Question 6.
The entry in any profession is not restricted.
Answer:
The entry in any profession is restricted.

Question 7.
Professionals need informal education.
Answer:
Professional need formal education.

2. Explain the following terms/concepts

Question 1.
Top level management.
Answer:

  1. The top level management decides the long term objectives of organization, frames plans and policies and take decisions.
  2. It consists of Board of Directors, Managing Director,CEO, President, etc.

Question 2.
Middle level management.
Answer:

  1. The middle level management is a link between top level and lower level management.
  2. It works under top level management.
  3. This level is considered with implementation of plans and policies in the organization with the help of lower level management.
  4. It consists of Head of Departments / Branch managers / Incharge, etc.

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 3.
Lower level management.
Answer:

  1. This is the last level of management.
  2. It is a supervisory level of management.
  3. It consists of superintendents, supervisors, foremen and junior executives.
  4. Lower level management receives instructions from the authorities i.e. middle level management and direct subordinates wherever necessary.

3. Study the following case/situation and express your opinion

1. While working in a company, Pranav used to give order to his subordinates about what is to be done and which work is to be done? In this organization, various employees like Pratap are doing their work assigned by Pravin. In this company, Pravin submits his report of work completion to Pranav after completing the work done by the employees like Pratap.

Question 1.
Identify different levels of management in above mentioned company.
Answer:
There are two levels of management i.e. middle and lower level of management in above mentioned company.

Question 2.
Find the level of Pranav in management of company.
Answer:
Pranav works in the middle level management of company.

Question 3.
Explain the functions and role of Pratap in his company.
Answer:
Pratap is an employee in a company. He works at the lower level. He executes the work assigned by Pravin.

4. Distinguish between the following

Question 1.
Top level Management and Middle level Management.
Answer:

Top Level Management Middle level Management
(1) Meaning Top level management refers to top position in the organization such as Board of Directors, CEO, President, Managing Director, etc. Middle level management refers to middle positions in the organization such as Departmental head, Managers like Finance manager, Production manager, Sales manager, Marketing manager, etc.
(2) Nature of Work It is concerned with framing plans and policies of the entire organization. It is concerned with implementation of policies framed by top level management with the help of lower level management.
(3) Skills It requires conceptual or decision making skills than technical skills. It requires combination of conceptual and decision making skills than technical skills.
(4) Promotion Policy Policy    At this level promotion is given on merit. At this level promotion is based on merit as well as seniority basis.
(5) Time Frame It considers longer period of time i.e. 5 to 20 years. It considers medium period of time i.e. 1 to 5 years.
(6) Responsibility Top level is responsible to shareholders, government and society. Middle level is responsible to top level management.
(7) Flow of Order Orders and instructions are passed to middle level. Orders and instructions are passed to lower level and report of the work is submitted to top level.

Question 2.
Middle Level Management and Lower Level Management.
Answer:

Middle Level Management Lower Level Management
(1) Meaning Middle level management refers to middle positions in the organization. E.g. departmental head, finance manager, etc. Lower level management refers to lower / last positions in the organization. E.g. superintendents, supervisors, etc.
(2) Nature of Work It is concerned with implementation of policies framed by top level with the help of lower level. It is considered with actual execution of planning.
(3) Skills It requires both conceptual and technical skills. It requires more technical skills than other skills.
(4) Promotion Policy Promotion is based on merit as well as seniority basis. Promotion is based on seniority basis.
(5) Time Frame It considers medium term i.e. 1 year to 5 years. It considers very short period of time i.e. upto one year.
(6) Responsibility It is responsible to top level management. It is responsible to both top and middle level management.
(7) Flow of Order Instructions and orders are passed to Lower level and report of the work is submitted to top level Implementation is done as per the orders of middle level and reports are submitted to middle level.

Question 3.
Top Level Management and Lower Level Management.
Answer:

Top Level Management Lower Level Management
(1) Meaning Top level refers to top positions in the organization. e.g. Board of directors, Managing Directors, CEO, President, etc. Lower level management refers to lower positions in the organization. e.g. Junior Executives, Foremen, etc.
(2) Nature of Work It is concerned with framing plans and policies of the entire organization. It is concerned with execution of plans and policies.
(3) Skills It requires conceptual or decision making skills than technical skills. It requires more technical skills than conceptual skills.
(4) Promotion Policy Promotion is based on merit basis. Seniority is preferred for promotion.
(5) Time Frame It considers for longer period of time i.e. 5 to 20 years. Basically it is very short period of time i.e. upto 1 year.
(6) Responsibility It is responsible to Shareholders, Government and Society. It is responsible to middle as well as top level management.
(7) Flow of Order Orders and instructions are passed to middle level. It implements orders of middle level and also reports to the middle level.

5. Answer in brief

Question 1.
State any four features of Management.
Answer:
Following are the features of management:
(i) Management is Goal Oriented : Management activity is done to achieve pre-decided goals. The success of organization is calculated on the basis of achievement of desired goals. The success depends on proper management of all available resources. Management decides the goals before conducting the activity. The manager takes efforts to achieve these goals. So management is goal oriented.

(ii) Management is a Group Activity : “Management is an art of getting things done through others.” The above definition explains that management is done through / with the people. It is done by co-ordinating all resources effectively and efficiently. The activities are done under the guidance of manager by its team members. Also in organisation decisions are taken by the group of people such as Board of Directors, Shareholders, etc.

(iii) Management is Intangible : Management is the collective efforts of manager. It is a process of planning, organizing, decision making, directing and controlling. These cannot be seen physically. However, the results of best management can be experienced in the form of increased profits, attainments of pre-decided so management is tangible in nature.

(iv) Management is a Continuous Process : Management is essential throughout the life of organisation. It is necessary to start the activity, to run the activity in smooth manner and also to control the activity. It is endless process. It is required for survival of the organization continuously.

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 2.
Write any four functions of Top Level Management.
Answer:
Following are the functions of Top Level Management:

  1. To decide long term objectives of the organisation.
  2. To frame plans and policies to achieve the set objectives.
  3. To observe that policies are properly implemented.
  4. To create various department and positions.

Question 3.
Write any four functions of Middle Level Management.
Answer:
Following are the functions of Middle Level Management:

  1. To link the top level management and lower level management.
  2. To understand plans and policies framed by top level management and prepare plan of action according to the nature of department.
  3. To assign duties and responsibilities to the staff of the concerned department to achieve pre-defined goals.
  4. To appoint lower level staff.

Question 4.
State any four functions of Lower Level Management.
Answer:
Following are the functions of Lower Level Management:

  1. Do work under Middle Level Management.
  2. To assign work to subordinates.
  3. To give instruction to subordinates.
  4. To direct the subordinates wherever necessary.

Question 5.
State any two points of relationship about management as an art.
Answer:
The relationship between art and management are:
(i) Personal Skills : In organization, every manager has to handle different situations, has to solve various problems, has to handle human resource, etc. with his own style. This style varies from manager to manager and so the result. This is because of the different skills and abilities of each person.

(ii) Creativity : Creativity refers to the ability to find something new and innovative. Manager finds out new ways to conduct organizational activities and to achieve desired goals. Manager develops new ideas according to the changes in business situation and in the business environment.

Question 6.
Explain any two points of relationship about management as a science.
Answer:
The following points shows there is a relationship in management as a science:
(i) Systematic Body of Knowledge : Pure science is based on systematic experiments, certain rules and principles. Management principles and functions are also based on the experiments which can be studied through various different management theories, techniques and approaches given by different management thinkers.

(ii) Universal Applicability of Principles : Scientific principles can be applied in all over the world in similar situation. Therefore, the same result can be drawn. Management principles are universal in nature. They can be applied everywhere, anytime and in any condition.

Question 7.
State hny two points of relationship about management as a profession.
Answer:
The relationship between profession and management can be seen with the help of following points:
(i) Expertise : A professional is an expert in his field. He has acquired specific knowledge through formal education. Also he has particular skill in practicing as a professional. Manager also becomes an expert by practicing regularly in the specific field and can acquire certain knowledge and skill.

(ii) Registration : Professionals need to register themselves with their associations. For example, a Chartered Accountant should register himself with Institute of Chartered Accountant of India i.e. ICAI. Without registration certificate he cannot practice. In case of managers, there is no such body to register themselves. However, managers can take the membership of ‘Chambers of Commerce’ which gives them benefits.

6. Justify the following statements

Question 1.
Management is essential in professional and non-professional activities.
Answer:
(i) As management is universal in nature it is applicable everywhere, either it is a professional activity or non-professional activity.

(ii) Every person performs certain activity to achieve pre-decided goals. E.g. earning of profit, winning games, competitions, to increase goodwill, etc.

(iii) Organisations either large, medium or small, profit making or non-profit making, government or non-government organisation, etc. to get success, to attain goals every time management plays a vital role. It’s application ensures smooth functioning of business.

(iv) A professional acquires certain specific formal education. He has specific skill to achieve his goals. He performs management functions like planning, organizing, controlling, etc. Similarly, while performing non- professional activities like plantation of tree, blood donation campaign, a person also requires to perform certain management functions.

(v) Thus, management is essential in performing professional as well as non-professional activities.

Question 2.
Level of management depends upon the size of organization.
Answer:
(i) Making different parts for the smooth functioning of business and to achieve decided goals is called levels of management.

(ii) The size of business is small, medium or large. Every business needs to manage the activities efficiently and’ effectively.

(iii) The levels of management depends on size of organization. If the size of organization is small the classification of levels becomes easy and simple. Whereas in large organization, it becomes difficult and complicated. The levels of management in such organisation may be classified into three parts i.e. Top level, Middle level and Lower level.

(iv) These levels of management are important in organization. These levels have their own functions. As per that they have to perform their duties and responsibilities to attain their set goals and objectives.

(v) Thus, levels of management depends on size of organisation.

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 3.
Management is a group oriented action.
Answer:
(i) In the words of Mary Parker Follet, “management is an art of getting things done through others”. Management focuses on completing the work through human resource.

(ii) It is co-ordinating of all available resources effectively and efficiently. In organisation, the activities are done by the subordinates, employees under the guidance of a manager.

(iii) A manager, though he is competent, able, has capacity, skills to perform the organizational task, it is not possible for a single manager to perform all the activities related to the said task alone.

(iv) To fulfill or accomplish the objectives and goals, he needs the help of other people, as it should be divided among all the employees, as per their skill, qualification, interest, knowledge and experience.

(v) Thus, management is a group oriented activity.

Question 4.
Management is an art.
Answer:
(i) An art is the bringing about a desired result through the application of skills. It is an innovativeness and creativeness of a person. This is a natural and inborn quality of a person. But with the help of proper education and practice one can developed the quality or qualities. E.g. acting, dancing, cycling, magician, singing, drawing, skating, musician, sports etc. comes under art.

(ii) Art does not require any specific educational qualification or it not any compulsion. It is inborn quality or a skill.

(iii) As a manager, in organisation he has to handle various kinds of situations, employees, other resources effectively and efficiently with his own style. So he uses his skills which are either inborn or developed by practice and formal education.

(iv) A manger must be innovative. He should handle the conditions. He should not use same methods all the time. Like an artist, he has to develop his skills by regular practice. He should use different techniques and skills to get perfect result. This is possible due to regular practice.

(v) Every managers has different abilities and skills. They have to use their own abilities and skills to guide the people to achieve their goals.

(vi) Thus, manager need to be creative and skilled like an artist. Hence, management is an art.

Question 5.
Answer:
There is no need of registration for managers.

  1. Every professional is registered with the concerned body or organisation. A professional is formally, educated and also a skilled person.
  2. A manager, now-a-days, possess a diploma or degree in management studies like Indian Institute of Management (IIM), PUMBA (Savitribai Phule Pune University, MBA) etc. A person who wants to be a manager acquires the required knowledge of the profession and trains himself / herself for the managerial job.
  3. As management is a profession, a manager is not practicing independently. He is an employee of the organisation.
  4. Thus, there is no need of registration for managers.

Question 6.
Management is a continuous process.
Answer:

  1. Management is a continuous process. It is an important feature of management.
  2. A manager of an organisation has to perform managerial work to achieve pre-defined goals of the organisation. To achieve these goals, he as a manager applies various functions of management, principles of management and also techniques of management.
  3. From the beginning till the achievement of success, continuous efforts of every individual is required.
    Continuity is an integral part of management. It is necessary through out the life of an organisation.
  4. Therefore, management has become necessary to start the activity and to run the activity at the business smoothly.
  5. Thus, management is a continuous activity. It is not a one time process, but it is never ending process.

Question 7.
Planning is a task of top level management.
Answer:

  1. Planning means thinking before doing. It is thinking in advance. Before the action, there is a thinking process.
  2. In the large organisation, management levels are divided into three parts i.e. top, middle and lower.
  3. At the top level management, very few personnels are involves. They are Board of Directors, Managing Directors, President, Chief Executive Officer, etc.
  4. The main function of top level management is to frame the plans and policies of the whole organisation to achieve its goals.
  5. It decides the long term objectives of the organisation and also frames particular plans and policies to get them. Further, it also sees that the policies are properly implemented.
  6. Framing of organizational objectives and accordingly plans and policies to achieve them becomes a tough task of top level management.
  7. Thus, Planning is a task of top level management.

7. Attempt the following

Question 1.
State the definition of management.
Answer:
Following are some definitions given by management thinkers :

  1. “Management is an art of getting things done through others.” – Mary Parker Follet
  2. “To manage is to forecast, to plan, to organize, to command, to co-ordinate and to control”. – Henry Fayol
  3. “Management is knowing exactly what is to be done and seeing that it is done in the best possible manner.”
  4. “Management is the process consisting of planning, organizing, actuating and controlling, performed to determine and accomplish the objectives by the use of people and resources”. George Terry.

Question 2.
State the features of management.
Answer:
(i) Managements is Dynamic : Management is dynamic and not static in character. It deals with human efforts, different situations and different activities. It adopts changes in the form of technological, socio economical, political, environmental, etc.

(ii) Management is Intangible : Management is intangible in nature. It can’t be seen and touched. It is abstract. The principles, theories, techniques, concept are practically invisible. The result of best management can be experienced in the form of increased profit, smooth functioning of the organization and achievement.

(iii) Management is a Social Process : Management is a process because it sets objectives and takes steps to achieve them. It is said to be a social process because management is concerned with people. For example employees, shareholders, investors, customers, community, etc.

(iv) Management is a Continuous Process : Management is essential through the life of an organization. It is necessary to begin the activity, to run the activity smoothly and to control the activity. This is never ending process.

(v) Management is Different from Ownership : In an organization, management is different from ownership. Owners contribute capital which is taken care of by efficient and paid managers.

(vi) Management is an Inborn Quality : Management in the older days, was considered to be an inborn quality. But with the inception of various business schools, management is a quality which can be developed if a person has the interest and perseverance.

Question 3.
State management is as a science.
Answer:
1. Systematic Body of Knowledge : Management is not a science like physics, chemistry or biology. It is a science which deals with human beings. Management has a theories and concepts. Various principle of management like unity of command, division of labour, unity of direction are all universally accepted principle. Management follows procedures like collecting data, analyzing and drawing inferences from it. This makes management a science.

2. Use of Scientific Methods of Observation : In science the conclusions are drawn only on the basis of scientific methods of observation. Management also uses systematic methods of data collection, verification and analysis of that collected data and interpretation of data, then a manager takes decisions in the organisation.

3. Cause and Effect Relationship : Science is based on cause and effect relationship. After using specific formulae or their combination, we get particular result in science. Management theories are also based on relationships. Fair and regular salary along with good working conditions motivates people to work hard and to give best results. Whereas, old machineries, techniques, untrained employees may not give good / excepted output to the organization.

4. Universal Applicability of Principles : The management principles are universally accepted just like scientific principles are accepted all over the world. For e.g. Newton’s law, Archimedes principle, etc. are all accepted principles, similarly in management also the principle of authority and responsibility, unity of command, direction, etc. are all universally accepted and are used in all organization whether big or small. Management follows these principles in all kind of organizations, at all levels in the same organization. State the relationship between the management and art.

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 4.
Following points clearly states the relation between management and art.
Answer:
1. Creativity: Managers must posses the quality of being creative. Every manager should be able to bring innovations in the business. This quality is developed with experience. The more experienced manager can bring about changes according to the situation.

2. Regular Practice: Practice makes a man perfect. This is the rule applied by a manager. The more the experience, the manager will be able to meet any challenge or difficult situation with ease. He is in a position to make the required changes according to the circumstances.

3. Personal Skill: Every manager being an individual is different. A good manager must posses good skills in dealing with human beings. He should use his skill in knowing the problem, allotment of work to employees, give judgment and understanding to deal with various situations in business.

4. Personal Abilities : Every person has different abilities and skills. Manager uses his own abilities to co-ordinate the activities, to guide the people and to achieve their goals.

Question 5.
State the importance of management
Answer:
1. Utilisation of Resources Optimally : Effective management is all about optimum use of available resources in the organization. Proper distribution of resources and work to right person results in higher output. It also reduces wastage and cost. Maximisation of output by reducing cost is the ultimate objective of every organization.

2. Better Relation : Different groups work at different levels in organization. The employer and the employees have different sets of demands from each other. Effective management ensures that employees fulfill their social responsibilities towards their employers. This helps in establishing good relationship among different groups in an organization.

3. Achievement of Goals : In an organization group of people performs various activities to achieve common goals of the organization. Effective management brings about harmony (cordial relationship) and good co-ordination in efforts of all group. A manager creates a feeling of team spirit among the members of the group.

4. Division of Work : Division of work means the entire work is divided into smaller lots. Each job is given to a particular employee as per his ability and skill to carry out the required activity. Division of work leads to specialization of work and completion of the work in the stipulated period of time.

Question 6.
State the similarities between management and profession.
Answer:
1. Formal Education : Professionals need formal education. Today’s managers are qualified with management diploma or degrees from various institutes like IIMS, PUMBA etc. They also take formal training from management schools which helps them to work professionally.

2. Code of Conduct : Code of conduct means set of rules and regulations to be followed by practicing in their field. Every profession has their own code of conduct to control the activities. It emphasis on ethical practice in that profession. E.g. Chartered Accountants have to work according to ICAI, Lawyers have to follow the code of conduct framed by Bar Council of India, etc. However for managers there is no such association of managers. Generally managers follow the code of conduct based on customs and traditions.

3. Expertise : A professional is an expert in his field. He has acquired specific knowledge through formal education. He has particular skill of practicing as professional. He becomes an expert due to regular practice in specific field.

4. Registration : Professionals need to register themselves with their associations. For example, Lawyers must get registered themselves with India Bar Council, Chartered Accountants with Institute of Chartered Accountant of India, where as for managers there is no need of such registration with any body. They can take membership of ‘Chambers of Commerce’ which give them membership benefits.

5. Restricted Entry : The entry in any profession is restricted. It needs formal education e.g. Lawyers, Architect, Interior designer, Doctors, Chartered Accountant, etc. However, such compulsion is not there for working as a manager.

8. Answer the Following

Question 1.
What is management? State the characteristics or features of management.
Answer:
Management and its features:
(A) Meaning:
The word management is derived from the Latin word ‘manus’ which means ‘hands.
It means management is handling some activity.
Many thinkers said that management means a fine consideration of co-ordinating and controlling the work either from direct individual or from a group.

(B) Definitions:
Some definitions of management given by different management thinkers as follows:

  1. “Management traditionally can be defined as “an art of getting things done through others. ” – Mary Parker Follet
  2. “To manage is to forecast, to plan, to organize, to command, to co-ordinate and to control”. – Henry Fayol
  3. “Management is co-ordination of resources through the process of planning, organizing, directing and controlling in order to attain stated objectives.” – F.W. Taylor

Following are the characteristics features of management:
(i) Managements is Dynamic : Management is dynamic and not static in character. It deals with human efforts, different situations and different activities. It adopts changes in the form of technological, socio economical, political, environmental, etc.

(ii) Management is Intangible : Management is intangible in nature. It can’t be seen and touched. It is abstract. The principles, theories, techniques, concept are practically invisible. The result of best management can be experienced in the form of increased profit, smooth functioning of the organization and achievement.

(iii) Management is a Social Process : Management is a process because it sets objectives and takes steps to achieve them. It is said to be a social process because management is concerned with people. For example employees, shareholders, investors, customers, community, etc.

(iv) Management is a Continuous Process : Management is essential through the life of an organization. It is necessary to begin the activity, to run the activity smoothly and to control the activity. This is never ending process.

(v) Management is Different from Ownership : In an organization, management is different from ownership. Owners contribute capital which is taken care of by efficient and paid managers.

(vi) Management is an Inborn Quality : Management in the older days, was considered to be an inborn quality. But with the inception of various business schools, management is a quality which can be developed if a person has the interest and perseverance.

(vii) Management is Situational: Management helps to take decisions and also to handle specific situation. The decisions are based on the principles, theories and techniques. They are applicable in certain situation only.

(viii) Management is Goal Orientated : Every business organization either small, medium or large, profit making or non-profit making, Governmental or NGOs have their own goals. When the organization achieves its desired goals, it is called success of that organisation. This success depends on proper management of all available resources. A manager takes lots of efforts to achieve these goals. So management is goal oriented.

(ix) Management is Universal : Management principles and theories are equally applicable every where and in every field like business, profession, hospital, education, politics, government administration social activities. These principles are the guidelines to the manager. They are flexible and capable of adaptation to every type of organization.

(x) Management is Group Activity : Management is defined as “getting work done through others” or “with the people in formally organized groups”. The tasks set by the organization is complied by employees, all levels of managers and even with the help of outside parties.

Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Question 2.
Discuss whether management is an art science or profession.
Answer:
Art:
1. Creativity: Managers must posses the quality of being creative. Every manager should be able to bring innovations in the business. This quality is developed with experience. The more experienced manager can bring about changes according to the situation.

2. Regular Practice: Practice makes a man perfect. This is the rule applied by a manager. The more the experience, the manager will be able to meet any challenge or difficult situation with ease. He is in a position to make the required changes according to the circumstances.

3. Personal Skill: Every manager being an individual is different. A good manager must posses good skills in dealing with human beings. He should use his skill in knowing the problem, allotment of work to employees, give judgment and understanding to deal with various situations in business.

4. Personal Abilities : Every person has different abilities and skills. Manager uses his own abilities to co-ordinate the activities, to guide the people and to achieve their goals.

Science:
1. Systematic Body of Knowledge : Management is not a science like physics, chemistry or biology. It is a science which deals with human beings. Management has a theories and concepts. Various principle of management like unity of command, division of labour, unity of direction are all universally accepted principle. Management follows procedures like collecting data, analyzing and drawing inferences from it. This makes management a science.

2. Use of Scientific Methods of Observation : In science the conclusions are drawn only on the basis of scientific methods of observation. Management also uses systematic methods of data collection, verification and analysis of that collected data and interpretation of data, then a manager takes decisions in the organisation.

3. Cause and Effect Relationship : Science is based on cause and effect relationship. After using specific formulae or their combination, we get particular result in science. Management theories are also based on relationships. Fair and regular salary along with good working conditions motivates people to work hard and to give best results. Whereas, old machineries, techniques, untrained employees may not give good / excepted output to the organization.

Profession:
1. Formal Education : Professionals need formal education. Today’s managers are qualified with management diploma or degrees from various institutes like IIMS, PUMBA etc. They also take formal training from management schools which helps them to work professionally.

2. Code of Conduct : Code of conduct means set of rules and regulations to be followed by practicing in their field. Every profession has their own code of conduct to control the activities. It emphasis on ethical practice in that profession. E.g. Chartered Accountants have to work according to ICAI, Lawyers have to follow the code of conduct framed by Bar Council of India, etc. However for managers there is no such association of managers. Generally managers follow the code of conduct based on customs and traditions.

3. Expertise : A professional is an expert in his field. He has acquired specific knowledge through formal education. He has particular skill of practicing as professional. He becomes an expert due to regular practice in specific field.

4. Registration : Professionals need to register themselves with their associations. For example, Lawyers must get registered themselves with India Bar Council, Chartered Accountants with Institute of Chartered Accountant of India, where as for managers there is no need of such registration with any body. They can take membership of ‘Chambers of Commerce’ which give them membership benefits.

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