Tag - brief.

A Brief History of Time

Creative Guidance: Book Review – A Brief History of Time – Stephen Hawking

A Brief History of Time: There are very few other scientific thinkers who can come close to the genius and creative of Stephen Hawking. He has been regarded as the foremost authority on theoretical physics and a man possessing, probably the most intelligent brain. ‘A Brief [...]

Explain in brief, the factors affecting productivity of resources. Or What are the factors which affect the productivity of resources ?

Ans. Productivity is the result of a variety of interdependent and interrelated factors. It is very difficult to measure the effect of any one factor separately. Some of the factors which exert profound effect on the. level of productivity are given as follows- (i) Natural [...]

What is linear (homogeneous) production function ? Explain in brief.

Ans. The simplest form of linear production is Q =α K + β L. Here, 'Q' shows the output. The contribution of capital (K) to output equals 'a' and contribution of labour (L) to output equals ' β '. Generally, this simple form of [...]

Classify the managerial theories of firm and discuss each in brief.

Ans. Managerial theories may be broadly classified into three categories (i) Sales revenue maximization model by Bamoul (ii) Managerial utility models (iii) Growth maximization models. (i) Bamoul's Sales Revenue Maximizing Model-The digopolistic firms aim at maximizing their sales revenue. The main reasons for this are as follows (a) Health [...]

What is the scope of managerial economics ? Explain in brief.

Ans: In so far as, managerial economics is concerned, the following aspects constitute its subject-matter - (i) Demand analysis and forecasting (ii) Cost analysis (iii) Production and supply analysis (iv) Pricing decisions, policies and practices (v) Profit management (vi) Capital management. (i) Demand Analysis and Forecasting - Demand analysis and forecasting is [...]

Give the stages in rational decision-making. Explain them in brief. Or Write short note on ‘stages in rational decision-making’.

Ans. A rational decision is backed by a scientific process involving analysis of the problem, collection of relevant data, review of key factors, evaluation of alternatives and choice of best alternative. Rational decision-making involves the following stages - (i) Problem Defined- The problem for analysis [...]

Briefly discuss the ‘principles of management’ given by Fayol. Or What do you mean by principles of management? Discuss the important principles of management. Or What are the principles of management ? Discuss in brief. Or Discuss in brief the principles of management.

Ans. 'Principles of Management' implies a list of current management practices. Though F.W. Taylor developed principles of management, credit goes to Henri Fayol, a French mining engineer and theorist for advocating and publicizing certain principles or laws for the soundness and good working of [...]

Giving in brief the contribution of IUV. Taylor and Henry Fayal, show that their work was essential complementary.

Ans. Contributions of F.W. Taylor...,. F.W. Taylor is known as the founder of scientific management. He rested his philosophy on four basic principles (i) The development of a true science of management, so that the best method for performing each task could be determined. (ii) The [...]

Discuss the need of management principles in brief.

Ans. According to Koontz, principles of management are required for the following purposes - (i) To Increase Efficiency- Principles aid thinking and action. The need for guesswork, haphazard activities is minimized. The difficulties caused by rapid changes in the environment can be overcome easily. As [...]

Write short note on characteristics of management. Or Write in brief about the characteristics of management.

Ans. The essential characteristics of management are as follows - (i) Management is Universal- Management is found in every walk of life, where the economical and intelligent application of scarce resources are involved. The principles and techniques of management are universally applicable to all group [...]

Explain the concept of management. Discuss in brief the significance of management.

Ans. The concepts of management can be explained through following points (i) An Art of Getting Things Done- Management gets things done through  Others by performing managerial functions and also satisfying their needs. (ii) As a Process- Managing involves a series of interrelated functions Of  planning, [...]

Describe management is a profession in brief.

Ans. Management is not only a science, but also an art. As an art it refers  to innate qualities of managers. Like an artist, the manager has to depend on  his own experience, intuition and judgment, while making decision on taking action. He has [...]