Course: Management Theory and Practice

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NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Management Theory and Practice

Assignment Marks: 30

Instructions:

All Questions carry equal marks.

All Questions are compulsory

All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.

All answers to be written individually. Discussion and group work is not advisable.

Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.

Students should write the assignment in their own words. Copying of assignments from other students is not allowed

Question. 1. There have been arguments in favor of management as an art, management as a science ormanagement as a profession. What is management according to you? You are not allowed to takea stand that says that management is combination of art, science and profession. (10 marks)

Answer:Management is the essential part of an organization. There is no way that an organization can work efficiently in absence of proper management and due to its higher level importance, the management has been divided in many categories but its major role and position stays almost the same. The combination of art, science and profession in corporate world makes everything much more efficient and professional which means it will become highly well-organized as well.

Management is the art of driving individuals to accomplish objectives with the most extreme effectiveness. How can dealing with the general

Question.2.You have started a business organization which aims at opening up a chain of laundries acrossthe city of Mumbai. Explain how you would use information technology in your business.(10 marks)

Answer:Informational technology is one of the most essential and important business part. It can help you to get higher level success in your recently started business. The integration of technology is something that can help you to get success easily.Especially in the laundry business, you would need to make sure that you follow proper strategy. In the business industry focused city like Mumbai, if you are planning to open chain of laundries then you would need to first analyse how to maintain stability in your business.

Retailing is an appropriation channel capacity,

Question.3.You own a retail store having outlets all over India. You have started facing tough competitionfrom online retail companies, not only from India but also from abroad. Now, you are planning tomake a strategic shift in the major functions of your business organizations for which you willhave to make strong decisions in your company. In this background, answer the followingquestions.

a) What will be the premises on the basis of which you will make these strong decisions?(5 marks)

Answer:In any well-established organization, the process of decision making is really very important. For better management and organization in the business, it is important that the personnel of the organization understand how to make the proper decisions. Decisionneeds to be made with the accuracy in the corporate world. To make strong decisions, it is essential to have strong principles and solid management.

b) Do you think it is possible for a decision maker to be totally rational in the process ofdecision making? (5 marks)

Answer:Decision maker in any organization plays really very important role because all the decision needs to be made on the basis of proper analysis and this entire procedure is really very sensitive. Efficiency and professionalism is necessary and therefore rational decision could also be made sometimes.

Rational decision making is a multi-step

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