POM - 2 Marks

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DEPARTMENT OF ELECTRONICS AND COMMUNICATION ENGINEERING
MG2351 PRINCIPLES OF MANAGEMENT
TWO MARKS- PART- A
UNIT-I
1.Management
* Management is the process of designing and maintaining an environment in which
individuals, working together in groups accomplish their aims effectively and efficiently
*Art of getting things done through others
*A process of Planning, Organizing, Staffing, Leading and Controlling.
2. Characteristics of management:
Management is goal oriented ( Mean to achieve goals)
Management is universal ( Suitable for all Size of organizations & Activities
Integrative force: Individual efforts Converged in to organizational goals
Management is a social process: Done by people, through people for people
Management is a multidisciplinary: Depends on knowledge from several
disciplines.
3. Objectives of management
Organizational objectives: ROI, Survival and solvency of business, Growth,
Goodwill and Market standing
Personal objectives: Salary & Remuneration, Working conditions, Training &
development opportunities, Participation in management, Security of service.
4. Need & Importance of management
To achieve Objectives & Goals
Optimum utilization of resources
Minimization of cost
5. Division of work: Every employee is assigned one particular work type
Authority and responsibility: Power & Commitment
6. Discipline: Rules, orders, instructions should be followed without any deviation or Choice.
7. Unity of command: One should get orders from only one superior.
8. Unity of direction: all activities should be focused towards common goals.
Subordination
of
Individual
interest
to
general
Adhering to Goals of organization.
9. Remuneration: Fair and reasonable payment to the contributions made
Interest:
10. Centralization: Power 78 Authority sharing between Top level, Middle level & Bottom
level and also across various functional divisions & Branches.
11. Scalar Chain: Un broken line of command from top to bottom level (G.M DGM
Manager Asst. Manager Supervisor Senior employee Skilled employee Employee)
12. Order: Smooth flow of work and resource handling
13. Equity: Treat all employees with Justice, Similar way and Kindness
Stability of tenure of personnel: Job security
14. Initiative: Willingness to do things and also in a creative way

15. Esprit- de corps: Team spirit and working in harmony
16. Contributions by Max weber Bureaucratic organization:
Bureaucratic model is more efficient form of organization because it aims at high degree of
precision efficiency, objectivity and rationality.
Characteristics of Weber model:
Division of labour: Specialization
Hierarchy of authority: Position and relationship with superiors & subordinates
Rigidity in compliance with procedures and framework of rules: No deviation
Impersonality: Formal and functional relationship
Technical competence: Job requirements and skills
17. Behavioral approach (Neo Classical theory)
Contributions of Hawthorne studies
George Elton Mayo conducted it
Conducted at Hawthorne plant of Western electronic company
1927 to 1932
Experiments conducted:
Illumination experiment: To test the fact that more working comfort would ensure
better performance. The lights that illuminated the factory were reduced in numbers.
Relay assembly test room experiment: Changes in Supervision, Job rotation, More
interaction, Flexible working hours, More wages
Mass interviewing programme: Attitude towards their job, working conditions and
supervision conditions
Bank wiring experiments : Study on informal groups and its effectiveness in Internal
Target setting
18. Top level management:
Corporate planning for the entire operations
Critical, Important and Macro decisions
Corporate Objectives & Goals
Decide on structure of Organization, creating various positions
Review , change decisions and control of all financial and operating results
19. Middle level management:
Department plan, Goals, activities
Means of achieving the goals
To perform all managerial functions
Issue detailed orders and instructions
Interpret policy to sub ordinates and lower level employees.
20. Lower level management
Planning of day to day work
Orders & Instructions were issued, received & Implemented
Supervising & Guiding of employees
Discipline & Team work
Performance & Improvement
21. Sole trading
Business unit which is owned and controlled by a single individual is known as a sole
trading concern.
Advantages of sole trading
1. It is easy to form and close the business
2. It is easy for decision making
22. Partnership
A partnership is an association of two or more person to carry on business and to
share its profits and losses.
Advantages of partnership
1. Easy to formation
2. Registration is not compulsory
23. Inter personal roles
The figurehead role ( Ceremonial head)
The leader role (Lead the organization towards the objective)
The Liaison ( Communicating on behalf of organization to outsiders)
24. Informational roles
Recipient role (Receives information)
The disseminator role ( Pass on communication to subordinates)
The spokes person role ( Pass on information to public & Stake holders)
25. Decision Roles
The entrepreneurial role ( Invest, Direct & venture in to business)
The disturbance handler role ( Crisis management)
The resource allocator role ( Planning & Budgeting of resources)
The negotiator role (Bargaining & offering)
26. Effectiveness: Achievement of objectives
27. Efficiency: Achievements of ends/Goals with least amount of resources.
28. Planning:
*Determination of objectives
*Forecasting and choice of course of action
*Formulation of policies, Programmes, Budgets, Schedules etc to achieve
objectives
*Laying down of procedures and standard of performance
29. Organizing:
* Deciding on various activities required to achieve a goal
* Grouping and arranging the activities
* Assigning duties of all individuals working
* Assigning authority to the various designations
* Fixing up responsibility and performance standards
* Establishing horizontal and Vertical relationship
30.Staffing
* Deciding on quality and Quantity of manpower requirement and ensuring their availability
with readiness to perform
Manpower planning
Recruitment
Selection
Training & Development
Compensation
Maintenance of human resource
31. Directing
* Communication with all levels in the management
* Motivation: Provide means for better involvement in the task
* Leadership: Means to get things done
32. Controlling
All activities are performed according to
Taking steps in order of deviations
Handling issues and problems
standards
pre
decided
UNIT 2
33. Planning
The plan is the action that orient towards goal or objective through the line of action to be
followed, the stages to go through and the methods to use. Deciding on Coordinated activities
that could bring in achievement of desired results.
*Planning is the future course of action towards attains the goal.
34. Objectives or Goals: Ends towards which activities are aimed or focused.
35. Strategies: Integrated Programme to achieve comprehensive objectives
36. Policies (Majors & Minors) Specific Area, Framework and Important guidelines for carrying
out various activities.
37. Procedures: A required method of handling future activities. activity oriented
38. Rules: Specific required actions or Non actions that could join to form procedures, Task
oriented
39. Programs: Set of clear instructions in a logical sequence to perform a particular task.
40. Budgets: Statement of expected results expressed in numbers.
41. Long range planning: Long range planning sets Long term goals and formulate specific
plan to achieve it.
42. Short range planning: Determination of short term activities to achieve short term goals,
thereby enabling reaching of Long term Goals through successful implementation of other short
term plans also.
43. Functional planning: Planned for functional areas like Production, Marketing, Finance, R &
D, Systems and HRM.
44. Objectives and goals may be defined as a Future destination or desired state of affairs
which the organization wants to attain
* Future direction towards organizational objectives
M C Farland: Objectives are the goals, aims or purposes that organizations wish to achieve
over varying periods of time
Features of objectives:
(1)
(2)
(3)
(4)
(5)
Basic plans : Objectives are the basis of all other plans

Multiple in nature: In various functional areas and combine to bring success
Arranged in hierarchy: Higher to lower level at various departments and divisions
Objectives vary in time span : Long term & short span
Objectives may be general or specific
Maintenance * Operational * Productive * General
45. Concepts in MBO (Management by objectives)
Peter F Druker in 1954
Self control and Self direction
Performance appraisal Central focus of MBO
Self appraisal and self development
The active involvement of subordinates in the appraisal process leads to commitment and creates
an environment for motivation.
46. Process of MBO
Setting preliminary objectives
Fixing key result areas
Setting subordinates objectives
Recycling objective
Matching resources with objectives
Periodic performance review
Appraisal.
47. MBO Benefits
Improvement of managing : Involvement and Motivated
Clarification of organization: No misunderstanding
Encouragement of personal commitment: Opportunity to contribute their ideas
Development of effective controls: Verifiable Goals.
48. Strategies
It is a complex plan for bringing organization from a given posture to a desired position in a
future period of time.
49. Characteristics of strategy:
Comprehensive and integrated action plan drawn for achieving objectives
Strategy is based on situational analysis of organization and environmental analysis
(SWOT).
Maximizing the performance and output with limited and minimum resources.
Flexible enough to make changes and exploit new opportunities
Flexible and dynamic in nature
Long period of time plans with short term operational plans also
Imposed externally by political, social, Legal and economical forces.
It is interpretative planning formulated to interpret the meaning of the policies.
50. Policies:
Formulation, communication and implementation of policies.
A policy is a general standing plan guiding the management in the conduct of enterprise
management operations
51. Characteristics of policies:
Formulated in the context of objectives and seeks to contribute to the organizational
objectives.
Communicated to all managers.
Broad guideline to the thinking and action
Expression of top management to facilitate managerial decisions.
Restrictive and permissive in nature.
52. Importance of policies:
Speed up decision making
Better delegation and decentralization of authority
Coordination: Creates unity of efforts and uniformity of action and it focuses attention on
organizational objectives.
Simplifies control: Helps to prevent unwarranted deviations from planned course of
action.
Accomplishment of objectives
53. Planning premises
Planning premises are the anticipated environment in which plans are expected to operate.
Classification of planning premises
1. Internal and external premises
2. Tangible and intangible premises
3. Controllable and uncontrollable premises.
54. Decision making
Selection of a course of action from or among alternatives
Choosing from available alternatives
55. Components of decision making process
Decision maker
Decision problem
Environment around the problem
Objectives of decision maker
Alternative course of action
Outcomes expected from various alternatives
Final choice
56. Routine and strategic decisions
Routine: Regular, Normal, day to day, less significance, No deviations
Strategic: Critical, high value, responsible for success/failure of the organization.
57. Policy and operating decisions
Policy: Vital importance and taken by top management
Operating decisions: Lower levels of management, activities, tasks and processes.
58.Organizational and Personal decision
Organizational:
Official
capacity
Personal decisions: Individual
59. Programmed and non programmed decisions:
Programmed: Routine and Repetitive
Non programmed decisions : Situational, Accidental and Contingency
60. Individual and Group decisions
Individual: Decisions of own by Leaders
Group: Collective decisions
Quantitative techniques:
1.
2.
3.
4.
5.
Time series analysis ; Adjusted to trend, seasonal variations

Extrapolation: Future projection based on past & Present trends
Regression analysis : Relative movements of one more interrelated series.
Input output analysis : Cause- effect estimation
Econometric model: Expressing in quantitative terms the relationship between
different variables that could influence.
UNIT 3
61. Organization:
Different things ( Roles and responsibilities) to different people ( Individuals in the
organization).
Formalized intentional structure of roles and positions.
62. Organizing means
Identification and classification of required activities.
Grouping of activities necessary to attain objectives.
Assignment and delegation of authority to implement it
Horizontal and vertical coordination and control.
Organizational structure: designed to
Clarifies who is to do what tasks and who is responsible for what results.
To remove obstacles to performance.
To make decisions and communicating it to all levels of management.
63. Formal and Informal organization:
Formal organization: the intentional structure of roles in a formally organized enterprise- A
structure in which each individuals would deliver duties and responsibilities. Not a voluntary
structure for employees.
Informal organization: A network of personal and social relations not established or required by
the formal organization but arising spontaneously as people associate with one another.
Grape vine: An informal way of communication taking place inside the organization through
rumors.
64. Process of organizing involves:
Determining activities, Grouping activities, Assigning duties
Delegating authority and Coordinating activities
65. Line organization: Scalar organization
Direct lines of authority flowing from top to bottom levels of organization.
Features:
Scalar chain from top to bottom
No provision for staff experts
Orders flow directly from superiors to subordinate
Subordinate responsible for achieving work to the superior.
Each superior is independent and takes decisions in his own area
Each individual responsible for executive only
Direct vertical flow of authority
Authority-Highest at the top and reduces towards lower level.
Planning and doing by same person
66. Functional organization
Organization in which various activities are classified in to a number of functions such as
production, Marketing, Finance, Personnel, etc and each function is placed under the charge of
functional expert.
Features:
Entire work of organization is divided in to major functions.
Every function is under the charge of a specialist
Every functional expert is given functional authority to command people of other
departments concerning his function.
Every subordinate receives instructions from a group of specialist.
67. Line and staff organization
Designed to maintain a proper balance between centralization (Line organization) and divisions
of control (Functional organization).
Features:
Line authority are used
Direct chain of command
Staff experts play a supportive role
Specialized activities and basic activities are separated
Unity of command is maintained.
67. Matrix Organization:
Hybrid structure combining functional departmentation and project structure.
Functional structure is a permanent feature of the matrix organization and retains authority for
the overall operation of functional units. Project departments and project teams are created when
ever specific projects require a high degree of technical skill and other resources for a temporary
period.
Developed to meet the needs of large and complex organizations which require a structure more
flexible and technically oriented rather than the functional structures.
Advantages:
Helps focused attention , talent, resource usage Better control
More flexible-Effective communication
Professionals can test their competence and make maximum contributions.
Motivate the staff to work for completion of project- Priority
Physical resources are assigned, Better balance and job security.
68. Departmentation
Grouping of similar activities of the business into departmentation, division units.
Departmentation by different strategies
1. Department by numbers
2. Department by time
3. Department by enterprise function
4. Department by Territory
5. Department by Customers
6. Department by process
7. Department by product or service.
69. Delegation of authority
The process by which a manager shares some of his functions and authority with
subordinates is called delegation of authority.
Delegation involves assigning duties, entrusting authority and imposing responsibility on
subordinates.
Delegation is always done within certain limit.
After delegation , the manager should have the responsibility to follow it up.
Delegated authority could be taken back at the time by higher official.
Supervisor exercises control over operations of authority
Routine works are delegated and the manager con focus on other important matters.
Delegation of authority based on division of work
Systematic process.
70. Process of delegation:
Assignment of duties: Defines the tasks to be performed by the subordinates.
Granting of authority: Providing authority to perform tasks or activities.
Creating of responsibility: Subordinates become accountable for the performance of their
duties..
71. Authority: Implies right and power of a person to exercise discretion to make decisions, to
issue orders, to use organizational resources and to hire and fire employees.
Hendry fayol on Authority The right to give order and the power to exact obedience.
72. Responsibility: Obligation to perform the given task to the best of ones abilities.
73. Centralization: Centralization of authority refers to systematic and consistent retention or
concentration of authority for decision making at higher levels of management.
74. Decentralization: Systematic dispersal of authority in all departments and at all levels of
management. An organization said to be decentralized when managers at middle and lower
levels are given the authority to take decisions on matters referring to their functions.
75. Staffing
Staffing basically involves matching jobs and individuals
76. Role of staffing
1. Increase in the number of employees
2. Changing employee roles and values
3.Increasing the percentage of woman employees
4. Widening the functions of the management
5. Effective attainment of organization goals
6. Provision of job satisfaction to employees.
77. Factors affecting staffing
1. Political factors
2. Economic factors
3. Social factors
4. Legal factors
5. Customers
6. Technological factors
78. Job specification: Formal statement of the minimum acceptable human qualities required for
the successful performance of a job.
o Qualification required
o Educational qualification
o Experience
o Training
o Physical standards
o Communication abilities
o Degree of initiative
o Judgment & Decision making
o Human attributes (i.e) Behavioral an emotional aspects
Manager (Finance)
Identification: MG (F) 31/2002
Designation: Manager ( Finance)
Age limit : 40 to 50 ( Relaxable by 5 years in exceptional cases)
Educational qualification: CA/ ICWA
Degree or Diploma in financial management
Desirable: MBA or Mcom. From any recognized university.
Experience: Relevant Industry : Minimum 3 years
Other Industry : Minimum 5 years
Physique: Height, Weight, General health and ailment
Special skills : Ability to work in computerized environment
Position in Organization: Middle level management to report to direct ( Finance).
79.Recruitment:Process of searching for prospective employees and stimulating them (motivate
them) to apply for jobs in the organization.
80.Sources of Recruitment
Internal sources
Promotion, Training &
Development & Transfer
External sources
Personal contact, Placement services,
Advertisement, On campus recruitment,
Educational Institution, Factory gate appointment,
Labour contractors
UNIT 4
81. Directing
Directing is a managerial function which primarily concerned with influencing, guiding,
supervising and inspiring subordinates in a planned manner.
All those activities which are designed to encourage subordinates to work efficiently and
effectively in both the short and long run.
82. Process of directing involves
Orders about work to subordinates
Guiding, Counseling, and educating subordinates
Supervising the work being performed
Maintaining discipline and rewarding efficient workers
Motivating and inspiring the subordinates
83. Nature of directing
Directing is a sub function between organizing, Staffing and Controlling
It is an initiating function. Giving orders and instructions for converting decisions in to
actions.
Continuous process
Performed by all managers at every level of organization.
The time for directing will increase when we move down the level in organization
Action oriented items converting objectives in to achievement of objectives.
It connects planning, Organizing, staffing and Controlling
Issuing orders, Instructions and activity to subordinates.
84. Motivation:
S
R
S
Performance = Ability X Motivation X Technology
Motive : An inner state that activates energizes or moves an individual and channelizes his
behavior towards goals.
Motivation is a process of stimulating people to action in order to accomplish desired goals.
85. Importance of motivation:
Effective use of resources
Higher efficiency
Accomplishment of organizational goals
Reduced labor turnover and absenteeism
Healthy Industrial relation
Improved corporate image
86. Maslows Hierarchy Need hierarchy theory
Hierarchical placement of human needs from lower to higher order
If a given level of needs are satisfied fully, by providing these needs will not motivate
him. He goes to next higher level of needs.
Self actualization
needs
Esteem needs
Social needs
Safety needs
Physiological needs
87. Herzbergs motivation Hygiene theory (Two factor theory)

But unlike Maslows theory that the movement to next level shall happen when lower level is
achieved is not practical because there is overlapping of needs
Needs
Dissatisfiers
Satisfactors (Motivational factors)
Dissatifiers:
Policy, administration, Supervision,
Working conditions, Interpersonal relations,
Salary, Status, Job security, personal life
(Hygiene
factors)
Satisfactors:
Achievement, Recognition, Challenging
work, advancement
Hygiene factors are the needs that would not be felt as a motivator when it is present, but when it
is absent the dissatisfaction is felt (Maintenance factors). i.e. Electricity & Salary
The motivational factors are the needs that would motivate an employee to perform.
Herzberg was able to recommend the importance of satisfiers which can motivate the employees.
88. Expectancy theory of motivation:
Victor H Vroom
Esteem needs
People will be motivated to do things to reach goal if they believe in the worth of that goal and
if they can see that what they do will help them in achieving it.
Force = Valence & Expectancy
Valance: Strength of an individuals preference for an outcome
Expectancy: Probability that a particular action will lead to a desired
outcome.
89. Porter and Lawler model

Value of rewards
Effort
Perceived effortReward
probability
Ability to do a
specified task
Perceived
equitable
rewards
Performance
accomplishment
Perception of task
required
Intrinsic
rewards
Extrinsic
rewards
Satisfaction
Amount of effort depends on Value of reward + Amount of effort + Probability of actually

getting a reward
90. Equity theory by J.Stacy Adams
Outcomes by a person = Outcomes by another person/ Inputs by another person
Individuals subjective judgements about the fairness of the reward she or he got, relative to the
inputs (which include many factors such as effort, experience and education) in comparison with
the rewards of other.
91. Reinforcement theory : BK. Skinner
Positive reinforcement or behaviour modification.
Individuals can be motivated by proper design of their work environment and praise for their
performance and that punishment for poor performance produces negative results.
MC Gregors participation theory
(Theory X and Theory Y)
Theory X (Traditional theory) Negative assumptions about human behavior
(1) People are by nature indolent ( want to work as little as possible)
(2) People lack ambition, dislike responsibility and prefer to be directed by others.
(3) People are inherently self centered and indifferent to organizational needs and goals.
(4) People are generally gullible (not sharp and bright).
This approach leads to
Close supervision, centralized structure, autocratic leadership and tight controls.
Management is responsible for organizing the elements of production
Management involves directing their efforts, motivating and controlling them.
Active intervention needed for accomplishing results.
Theory Y
(1) People are not by nature passive or resistant to organizational goals.
(2) The want to assume responsibility.
(3) They want their organization to succeed.
(4) People are capable of directing their own behavior.
(5) They have need for achievement
This approach leads to
Democratic leadership.
Participation in decision making
Self control
Management by objectives
Job enrichment
Decentralization
Employees are treated as naturally responsible and self motivated.
92.Mc clellands Needs theory of motivation:
Three basic motivating needs
n/Pwr Need for power
n/ Aff Need for affiliation
n/ Ach Need for achievement
Need for power : People with high need for power have a great concern for exercising influence
and control Forceful, outspoken, hard headed and demanding.
Need for affiliation: Usually derive pleasure from being loved and tend to avoid the pain of being
rejected.
Need for achievement: Need for achievement have an intense desire for success and an equally
intense fear of failure risk taking, energetic and hardworking.
93. Leadership:
Influence, art or process of enabling people to strive willingly and enthusiastically towards
the achievement of group goals.
Ability to persuade others to seek defined objectives enthusiastically. It is the human factor
which binds a group together and motivates it towards goals.
94. Nature and Features
Leadership is basically a personal quality
Ability to form a group and enable them to follow his instructions without hesitation.
Leadership pre supposes (assumes) a group of followers, who will follow
Leadership is a process of inert- personal influence by which leader influences the
followers in a situation to strive willingly towards realization of common goals.
Community of interests between the leader and his followers.
Continues process of influencing behavior.
Leadership is exercised in a particular situation at a given point of time and under a
specific set of circumstances.
Leadership is a reciprocal relationship.
95. Leadership skills
1. Visionary skills 2. Communication skills 3. Sensitivity skills 4. Self awareness skills
96. Qualities of a good leader
1. intelligence 2. Physical features 3. Maturity 4. Vision and foresight 5.Inner motivation 6.
Sense of responsibility 7. Empathy 8. Human relations attitude 9. Emotional balance
97. Autocratic or authoritarian leadership:
Leader centralizes power and decision making in himself. Commands complete control over
subordinates.
Strict autocrat leader: Penalties criticism and coercion
Blue violent autocrat leader : Centralizes decision making power in him and offer
positive motivation style in the room of taking in to account the feelings and needs of
subordinates
In competent autocrat leader : He adopts an autocratic style just to hide his
incompetence.
Advantages:
Provides strong motivation and reward to the self centered leader
Permits quick decisions
Incompetent subordinates can work, as their role in decision making is negligible
98. Democratic or Participative style:
Leaders take decision in consultation with the subordinates.
Advantages:
Provides subordinates to develop their potential abilities and greater responsibilities
Improves job satisfaction & Morale of subordinates
Subordinates participation would improve the quality of decisions.
99. Laiseez Faire ( Free Rein Leadership)
Allows group to establish its own goals and work out its own problems. The entire decision
making power is entrusted to subordinates and leader do not direct them.
Advantages:
Higher involvement and responsibility
Career development is successful
100. Creativity
Ability to produce new and useful ideas through the combination of known principles and
components in novel and non obvious ways.
101. Creative process
1. Saturation
2. Preparation
3. Frustration and incubation
4. Inspiration
5. Verification
UNIT 5
102. Elements of control system Stanley De J. Osberne
Planning: Plan is a pre requisite for effective control
Organizational structure: Clearly defining the duties and responsibilities of each individual.
Proper operating policy: Policy in realistic and broad in scope based on calculated action.
Delegation or decentralization of authority: People down the line must be given right to
make normal decision and normal errors to accomplish the objectives set before.
Up to date procedures: Maintenance of up to date procedures and ensuring that these
procedures are followed.
Communication: Appraisal of results and guide for forward planning
Personal ability of the controller:
Proper assignment of authority and responsibility
103.8 areas of control Peter F Drukker
-Marketing, Innovation, Productivity, Human organization, financial resources, Physical
resources, Profitability and Social responsibility.
104. Holdens 13 areas of control
Policies, Organization, Personnel, wages and salaries, Cost, Methods and manpower, Capital
expenditure, service dept. efforts, Line of products, Research & Development, foreign
operations, External relations and over all control.
105. Functional budget: One that relates to a function of the business i.e. Sales, Promotion etc.
106.Master budget: It is the summary budget incorporating its component functional budgets
consolidated department and functional budget.
107.Fixed budget: Budget designed to remain unchanged irrespective of the level of activity
actually attained.
108.Flexible budget: Designed to adjust permitted cost levels to suit the level of activity actually
attained.
109.Zero based budget: (ZBB) Each manager has to justify the resources for each activity
afresh for the accomplishment of objectives.
110.CPM : Critical path method : It is similar to PERT in attempt to integrate all activities
involved in a project.
111.The differences between PERT and CPM are
CPM assumes that the duration of each activity is constant. PERT allows uncertainty in
the duration of activities.
PERT is event oriented, CPM is activity oriented.
CPM assumes some previous work experience essential for the completion of each
activity. For PERT previous work experience is not essential.
Cost and time estimates are used in CPM, but only time estimate is used in PERT.
112.Network techniques:
PERT : Program evaluation and review techniques.
PERT is a time event network analysis system in which various event in a program or project are
identified, with a planned time established for each. These events are placed in a network
showing the relationship of each event to the others.
Events
Circles are number in an order of occurrence
Arrow represents an activity
Three time estimates are used
1. Most likely time
2. Optimistic time
3. Pessimistic time
Critical path : The sequence of events which takes the longest time and which has Zero ( or the
least) slack time.
Strengths :
Forces the manager to plan
Planning is done all the way down the line
Concentrates attention on critical elements that may need correction
Makes possible a kind of forward looking control
Network systems with sub systems enables a manager to aim reports and pressure for
action at the right spot.
113.Quality control: Group of voluntary representation from each departments, who are
working on continuous improvement of performance.
114.productivity
It is a measure of how much input is required to produce a given input.
productivity=output/ input
114.Globalisation:
The government attitude towards the business has undergone a drastic change beginning from
the later years of eighties. This change can be seen from the various policies announced by the
government particularly.
Industrial policy statement
Long term fiscal policy
Exim policy
115. Liberalisation:
It eliminates licensing quantitative restrictions and other regulatory and discretionary controls.
The liberalization has enormously expanded the scope of the private sector. Now only a small
number a industries are reserved. The liberalization of the policies towards foreign capital and
technology and import liberalization have given further growth and competition.
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14. Initiative: Willingness to do things and also in a creative way

Basic plans : Objectives are the basis of all other plans

Time series analysis ; Adjusted to trend, seasonal variations

87. Herzbergs motivation Hygiene theory (Two factor theory)

89. Porter and Lawler model

Amount of effort depends on Value of reward + Amount of effort + Probability of actually

Industrial policy statement

Long term fiscal policy

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