Description

SESSION AUG 2022
PROGRAM BACHELOR OF COMMERCE (B.COM.)
SEMESTER I
COURSE CODE & NAME DCM1105 – PRINCIPLES OF BUSINESS
MANAGEMENT
Assignment Set – 1
1. Discuss the main characteristics of management in an organisation.
Ans: Let’s understand in detail the characteristics of management:
• It is goal oriented: No organisation can work if it does not have any goals. For instance,
the goal of a form can be to increase sales. Management always strives to achieve such goals
through coordinated efforts of individuals in an organisation.
• It is pervasive: Irrespective of the nature and size of an organisation, management is
required by all. For instance, a hospital needs to be managed as much as a school or a
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2. Differentiate the qualities of the following two kinds of managers: –
a) Coaching manager
Ans: Coaching managers
Coaching managers usually take on a teacher-like role and they have an excellent
understanding of the different stages of professional development. They love to motivate
their employees to improve. They do this by helping them build
3. Differentiate between Open System and Closed System.
Ans: Open System: In an open system, an organisation continues to operate if the
environment is satisfied with the outputs and customers are happy with the final products. In
case of failure, changes were made to make the final products in accordance with the
Assignment Set – 2
4. Discuss the following types of decision making: –
a) Programmed decision
Ans: Decision-making is generally undertaken in various types of conditions.
These conditions are shown in Figure:
Decision Making Conditions
Following are the three types of conditions:
• Certainty: It refers to the condition wherein managers make the decisions with certainty
b) Non-programmed decision
Ans: Non-programmed decisions are unstructured in nature and do not have any established
5. “To be a great leader one must possess various qualities to lead the followers
successfully and earn their trust, respect, and loyalty.” Comment.
Ans: QUALITIES OF LEADERS
To be a great leader, he/she must possess various qualities to lead the followers successfully
and earn their trust, respect, and loyalty.
Some of the qualities that should be inherent in effective leaders are shown in the
6. Explain the various steps involved in the process of controlling.
Ans: CONTROLLING PROCESS
Controlling is a systematic procedure that includes the following steps.
Step 1: Establishing Performance Benchmarks: The establishment of performance
standards is the first stage in the controlling process. Standards are the criteria against which
actual performance is judged. As a result, standards are basically targets that the organisation