Principles of Management Interview Questions and Answers:
Following are the below Principles of Management Interview Questions and Answers, Principles of Management Important Questions and Answers
1. What are the objectives of planning?
Ans.
- To offset uncertainity and change
- To focus attention on objectives
- To help in coordination
- To help in control
- To increase organisational effectiveness.
2. List the steps in decision making process.
Ans.
- Develop specific objectives
- Identify the problem
- Search for alternatives
- Evaluate the alternatives
- Choose from the alternatives
- Make action
- Get the feedback/result.
3. What is the necessity of the organisation?
Ans.
- Facilitate management action
- Encourage efficiency
- Effect on communication process
- Optimum use of organisation resources
- Stimulate creativity
- Create job satisfaction.
4. What are the functions performed by the low level manager?
Ans.
- Technician
- Analyser/Researcher
- Controller etc. are the roles performed at low level.
5. What are programmed decisions?
Ans. Programmed decisions are routine and repetitive and are made within the framework of organisational policies and rules. These policies and rules are established well in advance to solve recurring problems in the organisation.
6. What are the limitations of quantitative approach of management?
Ans.
- It is too abstract.
- Lack of universality.
- Risk involvement.
7. What are the limitations of matrix organisation structure?
Ans.
- There is always power struggle in matrix structure.
- People have to work under multiple commands.
- It cannot work well when there is economic crunch.
- If not followed properly, there is delay in decision-making.
- Costly.
8. List the steps involved in directing.
Ans.
- Establishment of standards.
- Fixation of the standards.
- Comparing actual performance with standard performance.
- Finding out the deviation.
- Correcting the deviation.
9. What are the kinds of skills companies look for in managers?
Ans.
- Mental ability to understand, learn, judge, etc.
- Moral ability consisting of energy, firmness, loyalty, tact and dignity.
- Education comparing general acquaintance with matters not belonging exclusively to the functions performed.
- Technical ability peculiar to the function being performed.
- Experience arising from the work.
- Physical health and vigour.
10. Define management.
Ans. Managernent is a process involving planning, organising, staffing, directing and controlling human efforts to achieve stated objectives in an organisation.
11. Define Corporate Planning.
Ans. Corporate planning denotes planning activities at the top level, also known as corporate level, which cover the entire organisational activities. The main focus of this process is long term objective of the organisation.
12. Write short notes on Policy Making.
Ans. Policies are general statements be understandings which guide or channel thinking and decision making.
13. Define Authority.
Ans. Authority may be define as the power to make decisions which guide the actions of another. It is a relationship between two individuals, one superior, another subordinate. The superior frames and transmits decisions with the expectation that these will be accepted by the subordinate. The subordinate executes such decisions and his conduct is determined by them.
14. What is Staffing?
Ans. Staffing is the function by which managers build an organiation through the recruitment, selection and developinent of individuals as capable employes.
15. Write short notes on Laissez Faire leader.
Ans. A behavioural style of leader who generally gives the group complete freedom, provides necessary materials, participates only to answer questions and avoids giving feedback is called the Laissez-Faire or free-rein leadership style.
16. Write short notes on Elements of Communication.
Ans.
- Sender
- Transmissions of Message (Medium)
- Receiver
- Feedback
- Noise
17. What are the budgetary controls?
Ans. A system which uses budgets as a means of planning and controlling all aspects of producing and/or selling commodities and series.
18. Define Purchase Control.
Ans. Purchase Control includes forecasting income and expenditures for efficient production and distribution.
19. Define Administration.
Ans. Administration is that part of management which is concerned with the installation and carrying act of the procedures by which program is laid down and communicated.
20. What is globalization?
Ans. All there policies measured clearly reflect the changing attitude of government towards business and commitment of Government to integrate Indian economy with world’s economy is called Globalization.
21. Nance any four Quantitative forecasting techniques.
Ans. Forecasting Techniques are
- Jury of execution opinion
- Delphi method
- Simple moving average
- Weighted moving average.
22. Define Organizing.
Ans. It is the process of identifying and grouping of activities required to attain the objectives, delegating authority, creating the responsibility and establishing relationships for the people to work effectively.
23. What are the advantages of decentralization?
Ans.
- It reduces burden of the management.
- Attention on strategic management.
- It encourages the decision making.
- It facilitates the growth and diversified.
24. What is meant by Brainstorming?
Ans. It is an excellent way of developing many creative solutions to a problem by focussing on a problem among 8 to 12 people for less than an have to develop a long list of idea or solutions.
25. What are the different types of management strategies involved in leadership?
Ans. Management Systems in Leadership are
- Exploitative – Autocratic
- Benevolent – Autocratic
- Consultative – Democratic
- Democratic – Participative.
26. List any four types of control.
Ans. Types of Control:
- Feedback control.
- Concurrent control.
- Feed forward control.
- Continuous control.
27. Define MIS.
Ans. A system of obtaining abstracting, storing and analyzing data to productions information for the use in planning, controlling and decision making by managers at the time, they can most effectivity be used it.
28. What are the roles a manager has to perform?
Ans.
- Interpersonal roles
- Informational roles
- Decisional roles
29. What is Strategic planning? Give an Example.
Ans. Strategic plans are designed with the entire organization in mind and begin with an organization’s mission. Top level managers, such as CEOs or presidents, will design and execute strategic plans to paint a picture of the desired future and long term goals of the organization. Essentially, strategic plans look ahead to where the organization wants to be in three, five, even ten years. Strategic plans, provided by top level managers, serve as the framework for lower level planning.
30. What do you mean by policy? Give an Example.
Ans. Policies are general statements or understandings which guide managers thinking in decision making.
eg: Payment will be provided for overtime work only if it is allowed by the management.
31. Define “Span of control”.
Ans. Span of control means the number of people managed effectively by a single superior in an organization. The term “Span of control” is also known as “Span of management”,”Span of authority” and “Span of responsibility”. But Span of management is a better, because control and supervision are the elements of management.
32. List down the different types of training.
Ans.
- On job training
- Off job training
33. Distiguish between creativity and innovation.
Ans.
Creativity
- Creativity is the ability to generate ideas
- Divergent thinking
Innovation
- Innovation is the ability to capture these creative ideas
- Convergent thinking – putting ideas into action.
34. Define motivation.
Ans. Motivation may be defined as those forces that cause people to behave in certain ways. Motivation encompasses all those pressures and influences that trigger, channel, and sustain human behavior.
35. Define productivity. List the types of productivity
Ans. Productivity is a measure of how much input required to produce a given output i.e., the ratio output/input is called productivity. Types are:
- Physical productivity
- Functional productivity
- Economic productivity
36. What are the different types of budget?
Ans.
- Sales budget
- Production budget
- Purchase budget
- Cash budget
- Master budget
- Capital budget
- Variable budget