What is the first and most important function of management?
Planning
Management involves coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively. There are several core functions that managers perform to achieve organizational goals. These functions are typically listed in a sequential order, although in practice, managers often perform them concurrently.
The generally accepted functions of management include:
Planning is considered the foundational function of management for several reasons:
Therefore, planning logically comes first because you need to decide what you want to achieve and how, before you can start arranging resources or monitoring progress.
Planning is often described as the most important function because:
Based on the fundamental sequence and dependency of management activities, planning is unequivocally the first and most important function.
An interface between the functional application and the data is
The following statements relate to project network. Choose the correct code for the statements being correct or incorrect.
Statement I: An activity cannot be represented by more than one arrow, but an arrow can represent one or more activities.
Statement II : The activities in a critical path can be preponed or postponed.
A public limited company has 9,00,000 shares outstanding at current market price of Rs. 130 per share. The company needs Rs. 2.25 crores to finance its proposed new project. The board of the company has decided to issue rights shares to raise the required money at Rs. 75 per share (as subscription price) to ensure that the rights issue is fully subscribed. How many rights are required to purchase a new share ?
What are the characteristics of job shop production ?
A. Different product types are produced
B. Very large quantities are produced
C. Single type of product is produced
D. Low quantities of product are produced
Match List I with List II
LIST I (Project Network concepts) | LIST II (Underlying meaning) | ||
| A. | Crashing an activity | I. | Length of the longest path through the project network |
| B. | Project Network | II. | It shows the time and cost when the activity is fully crashed |
| C. | Critical path | III. | It consists of a number of nodes and a number of arcs that connects two different nodes |
| D. | Crash point | IV. | Taking special (costly) measures to reduce the duration of an activity below its normal value |
Choose the correct answer from the options given below: