The core values are those things very close to your heart that you will not give up at any cost. Core purpose is the purpose of the organisation, for example, to make furniture. This is something that you want to achieve within the framework of our core values. The BHAG is about having a goal which qualifies the purpose. For example, to be the best furniture maker in the town in five years or to be the most well known furniture supplier in India by 2025, etc. The vivid description should make the entire vision statement very inspiring to all stakeholders.
It should be simple and easily understandable. For example, ‘Quit India’ is a very simple statement, but it is very vivid and easily understandable by all. Let us be very clear that the vision statement is meant for the stakeholders and therefore, the importance of the vivid and simple statement. We say that your grandmother should be able to understand it or a twelve-year-old child should be able to understand it and you should test it on them. This is also called ‘The Grandma’s Test’ or the ’12-Year-Old Test’. b) Processes
Process is a set of logical activities that lead to some final or interim output. For example, taking pieces of wood, making it smooth, cutting it, making grooves, connecting them, finishing them, and polishing them are processes to create a table. These have to be done in some logical sequence. This is what a process is. Let us now look at Raju’s business itself. He has to manage things and for this, he will have to plan the number of pieces to be made, how much wood to buy, which furniture to make, how to organize these, where to get manpower, etc.
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Data SheetCarbohydratesSample Benedict Test + or - 1. Glucose + 2. Maltose + 3. Sucrose - 4. Lactose + 5. Starch - Resultant Color in a + Benedict Test - Orange/Red/Green Sample IKI + or - 1. Starch + (Blue) 2. Maltose - (Yellow) 3. Sucrose - (Yellow) 4. Glucose - (Yellow) 5. Water - (Yellow) Lipids A. Solubility 1. Water - 2. Acetone ++ 3. Alcohol + 4. Chloroform +++ 5. Ether +++ Polar Molecule: ...
These too have to be done in some logical sequence. Tasks (activities) This is perhaps the most basic unit in an organisation. In the example given above, teaching can be a task, cutting wood can be a task, and making grooves in the wood can be a task. Thus, we have learnt that ever organisation has a vision and mission. To execute the organizational vision we create strategies. Structures, systems and processes help the organisation execute the strategies. Q2. Planning is called as the cornerstone of management.
Define planning and describe the importance of planning. Explain the types of planning. Planning can be defined as a basic management function which enables one to select the purpose of the business, and how the resources should be mustered to achieve that purpose to include using the available resources optimally to do that. Planning implies goal setting for the organization keeping in mind the constraints, opportunities, and threats as much as what the person or business which is planning wants to do.
Thus, a plan is a blueprint for goal achievement, a blue print that specifies the necessary resource allocations, schedules, tasks, and other actions to achieve the purpose. Planning is important for the following reasons: • • • • • • • It helps the management to clarify, focus, and research their businesses or project’s development and prospects. It provides a considered and logical framework within which a business can develop and pursue business. It offers a benchmark against which the actual performance can be measured and reviewed.
It plays a vital role in helping to avoid mistakes or recognise hidden opportunities. In the business context, it guides the development of products, management, finances, and most importantly, markets and competition. It helps in forecasting the future and makes the future visible to some extent. It bridges between where we are and where we want to go. Types of Planning Planning can be classified from different perspectives. Based on level (corporate, business and functional plans)
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As part of our strategic plan to create an event planning business store front and market our service based on our past experiences, this project is expected to be the vehicle to allow expansion and encompass a larger market. State of the art equipment and planning will assist in our increasing reputation and productivity and attaining a renowned presence in the industry. Project Product Completed ...
They cover long-term objectives of various businesses and the ways to do these. They are integrated and future oriented. Sambhavi may consider that they could enter into long-lifepackaged bakery products, production of bakery raw materials, a chain food retail, etc. These are corporate plans. Based on importance (strategic and operational plan) A plan that is important and future oriented and forms the hub of fulfilling the vision is, of course, very important and such plans are called strategic plans. Based on formal process (formal and informal)
When planning is done as per the steps and documented in a structured way, it is called formal plan and when this is missing it is called informal plan. Based on approach (proactive and reactive) The plans that we make anticipating an incident is called proactive plans and something that we make as a consequence of an event or action of the competition is called reactive plans. Reactive plans bring us back to the balance after we have lost it while the proactive plans give us initiative. In other words, we can say that reactive plans are about survival while proactive is about growth.
Q3. What is meant by ‘span of control’? Differentiate between narrow span of control and wide span of control. What are the factors that influence the span of control? Q4. Define Organisational behaviour. What are the various approaches to Organisational behaviour? Q5. Perception is the way we see and interpret things. Explain the importance of such ‘perception’. What are the factors affecting perception? Q6. Give the definition and importance of ‘motivation’. Describe Maslow’s hierarchy of needs theory. Remaining answers are available in the full assignments.
