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question_answer1) Direction: Q. 1 to 4 Read the given passages and answer the questions that follow. I. Anamika Ltd. holds an Annual Management Programme every year in the month of March in which the top managerial personnel formulate plans for the next year by analysing and predicting the future to meet future events effectively. They make certain assumptions about the future which are considered to be the base material upon which the plans are to be drawn. As they are responsible for providing directions to the organization, facts are thoroughly checked through scientific calculations. Detailed plans are prepared after discussion with professional expert. Preliminary investigations are also undertaken to find out the viability of the plan. Since it is an intellectual activity requiring intelligent imagination and sound judgment, it is mainly done by the top management- Usually, rest of the members just implement the plans. Middle level managers are neither allowed to deviate from the plans nor are they permitted to act on their own. The top management ensures that the expenses incurred in formulating the plans justify the benefits derived from them. The management of Anamika Ltd. is able to anticipate changes/uncertainties and develop managerial responses to them. The management of Anamika Ltd. is able to anticipate changes/uncertainties and develop managerial responses to them. Identify the point of importance of planning highlighted above.
question_answer2) They make certain assumptions about the future which are considered to be the base material upon which the plans are to be drawn- Identify the step of the planning process highlighted above.
question_answer3) The top managerial personnel formulate plans for next year by analyzing and predicting the future to meet future events effectively . Since it is an intellectual activity requiring intelligent imagination and sound judgement, it is mainly done by the top management. Identify the feature of the planning highlighted above.
question_answer4) Detailed plans are prepared after discussion with professional experts, preliminary investigations are also undertaken to find out the viability of the plan . Middle level managers are neither allowed to deviate from the plans nor are they permitted to act on their own. Identify the limitation of the planning highlighted above.
question_answer5) Direction: Q. 5 to 8 Read the given passages and answer the questions that follow. II. A car company, Car Ltd., is facing problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower priced models for mass consumers who are price sensitive. Car Ltd. realises that it needs to take steps immediately to improve its market standing in the future. It decides to increase sales by 15% and gave directions to all departments at all levels about what they are expected to do to achieve the objective. The managers also make certain assumptions about the future and forecasting is made about the demand for new products, prices of machinery and equipment needed, etc. For quality conscious consumers, Car Limited plans to introduce new models with added features and new technological advancements. The company has formed a team with representatives from all the levels of management. This team will brainstorm and determine the steps that will be adopted by the organisation for implementing the above strategy. However, it is very difficult to assess future trends in the environment if economic policies are modified or political conditions in the country are not stable. Intense competition in the market can also upset financial plans, then sales targets may have to be revised. Identify the function of management highlighted in the given case.
question_answer6) It decides to increase sales by 15% and gives direction to all departments at all levels about what they are expected to do to achieve the objective. The managers also make certain assumption about the future, and forecasting is make about the demand for new products, prices of machinery and equipment needed. Identify the steps of the function of management highlighted.
question_answer7) it is very difficult to assess future trends in the environment if economic policies are modified or political conditions in the country are not stable. Intense competition in the market can also upset financial plans, then sales targets may have to be revised. Identify the limitation of the function of management as highlighted above.
question_answer8) Identify the feature of the function of management as discussed in the case.
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