Alpha Enterprises is a company manufacturing water geysers. The company has a functional structure with four main functions – Production, Marketing, Finance and Human Resource. As the demand for the product grew, the company decided to hire more employees. Identify the concept which will help the Human Resource Manager in deciding the actual number of persons required in each department.
Hina Sweets is a renowned name for quality sweets since 1935.
Harsh the owner of Hina Sweets was worried as the sales had declined during the last three months. When he enquired from the Sales Manager, the Sales Manager reported that there were some complaints about the quality of sweets. Therefore Harsh ordered for sample checking of sweets. Identify the step taken by Harsh that is related to one of the functions of management.
Meca Ltd. a reputed automobile manufacturer needs Rupees ten crores as additional capital to expand its business. Atul Jalan, the CEO of the company wanted to raise funds through equity. On the other hand the Finance Manager, Nimi Sahdev said that the public issue may be expensive on account of various mandatory and nonmandatory expenses. Therefore, it was decided to allot the securities to institutional investors. Name the method through which the company decided to raise additional capital.
State any three points of importance of planning function of management.
(i) Provides directions: Planning provides directions by deciding the goals and objectives to be achieved and how such goals to be achieved what action should be taken.
(ii) Reduces overlapping and wasteful activities: Planning reduces overlapping and wasteful activities by coordinating the activities of different. As the top management are aware of the desired goals and policies and plans they coordinate their efforts and work to achieve that goal without any delays and waste.
(iii) Pervasive: Planning must be done at all levels of the management and in all departments of the organisation. Planning is required at all departmental levels and stage in an organisation.