Why Patience Is Essential With an Online Business
One of the biggest reasons people fail with an online business is because they do not stick with one program long enough. While there are a number of opportunities to pursue online, you will never have success with any of them if you keep jumping from one to the next. Persistency is essential to have success with an online home business.
There are far too many entrepreneurs that expect to see results right away. And who can blame them with the numerous rumors and myths spread all across the internet claiming you can get rich over night. In reality, it takes time and patience before you will begin to see results.
After several weeks with little to show for the hard results, too many people quit hoping to find success with a different opportunity on the internet. The problem is that all you will find by doing this is the same thing as the last opportunity. It takes patience to see results.
The reason patience is essential with an online business is because it takes time to build up the business. Marketing and advertising alone takes a great deal of time to reel in visitors to the site. You have to work your way up from the bottom of the totem pole to gain people’s attention and respect. Without marketing nobody knows that you or your business even exists.
While marketing your business you have to find time to continuously add to and upgrade your website. This means constantly adding fresh and enticing content, making every web page appealing with graphics and animations, and doing whatever it takes to set your site apart from your competitors.
In the meantime, you have to take time to respond and follow up with each of your visitors and customers. Customer service can make or break your online business because it is the customer that decides whether or not to purchase from you. This alone can be considered a full job.
As you can see, there are multiple facets you take on having an online business. Therefore, it is preposterous to think that you can get rich over night. If you truly want to succeed with an online business, time and patience is crucial to making it work. Jumping from business to business is only going to delay the inevitable. It can be frustrating putting in a great amount of effort and seeing little to no results whatsoever in the beginning. But over time, the rewards will far outweigh the effort you put forth.
Choosing Good Employees For Your Business
No matter what kind of business you have, hiring the right people is the key to making it successful. You need good employees and if you start out with the right group of people, your business will become successful much quicker than if you have to go through a process of hiring and firing people because they just are not the right people to meet your needs.
One o the mistakes you want to avoid is hiring your friends and relatives just because they expect it. Certainly, if they are qualified to do the job, there is no reason not to hire them as long as you are capable of separating business relationships from personal relationships. In other words, there must be an understanding that they will be treated no differently at work than any other employee and that you will not make any special allowances.
If you fail to do that, you are setting yourself up for controversy from your friends and relatives because you do not treat them differently from your other employees. Most new business owners do not have a clue about hiring people to work for them, so you may have to consider getting some college credits on human resource education and tactics, choosing good employees or similar subjects. If you are not comfortable with the idea of hiring staff members, you might enlist the services of a recruitment firm to at least help you get some prospects into prospective.
It is important to remember that the agencies are not free, so you may not have the funding that is necessary to enlist their assistance. However, the state employment service is free and there is an office in every state and county within that state. You will learn by your mistakes but you also want to make sure to make those minimal by learning the right questions to ask and making it a point to check previous references. Do nt trust your gut or instincts, because they are not always correct.
When you hire people to help you with your business, do not hire them because they looked nice or talked nice but combine all of the qualities into forming a profile of each person you interviewed. At the same time, do not look past the person who comes to the interview dirty and unkempt because unless he or she is coming directly from another job, this is an indication of what to expect from that person.
Also, if someone is late for an interview with no valid excuse, it may be an indication of a poor record of punctuality. Even the person who came from another job unkempt must not be taken at face value. Consider whether they left the job in enough time to clean up or whether you could have scheduled the interview a little later. The first impression is the lasting one, so keep in mind your first impression when you make your choice.
Tuesday, January 20, 2009
Interim Management
Interim Management – The Dynamic Demographic
Forget the corporate ladder, increasing numbers of the most talented in the workforce are moving into the interim management market. Moreover, interim management as a career option is fast losing the ‘pale, male and stale’ reputation that was held ten or so years ago. The new generation of interim managers reflect a younger, more dynamic demographic. Those with talent have a wider arena to excel and succeed, regardless of age or gender.
The previous perception – that most interim managers were males, close to retirement age who wanted more time on the golf course and less time in the office, whilst still earning enough to pay for long lunches at the nineteenth hole – is now as outmoded as plus fours. With talent and skills in ever-increasing demand, interim management opens up the perfect playground to be recognized for key skills, whilst gaining a range of valuable experiences, and opportunities that might have been withheld in the past.
More women are taking the interim route, recognizing that there are key advantages to this freelance option. For women juggling a career with child-care obligations, interim management creates greater opportunities to have more control over home/work balance, or at least feel that they are able to priorities their needs on their terms to a greater extent. For example, timing the end of an assignment to coincide with long summer holidays offers an option to take time out without jeopardizing a career. There is also a growing recognition that some key elements of interim contracts can be undertaken at home, without the need to spend weeks in a hotel. So, it’s clear to see why a growing number of talented women are stepping in to this market.
There is, of course, a downside. As anyone who is essentially self-employed knows, life can feel precarious until the next work contract is negotiated. However, as more women step into interim management, they are also finding that it can provide a faster route to promotion and pushing the ‘glass ceiling’ of upper management, than remaining with one employer. Since interim managers are ‘judged’ purely on skills and expertise, many office bound prejudices lose momentum. What a relief to be free from office politics, or judgement about potential maternity leave and to be respected purely for the skills that you bring to an assignment.
With a recognised ‘war for talent’ acknowledged in every board room it’s not just women who are reaping the rewards as interim managers. As a career path, it can offer greater potential for those with drive and ambition, regardless of age. Talented thirty somethings can build an impressive CV, without stepping on toes; undertaking an assignment with a clear remit, won’t pose a threat to the established workforce, as, after all, they are only temporary.
Interim management is here to stay and doing well, in part, as a direct result of shaking up traditional corporate demographics. Perhaps the only threat it might pose is to the ‘old boys’ on the golf course.
Forget the corporate ladder, increasing numbers of the most talented in the workforce are moving into the interim management market. Moreover, interim management as a career option is fast losing the ‘pale, male and stale’ reputation that was held ten or so years ago. The new generation of interim managers reflect a younger, more dynamic demographic. Those with talent have a wider arena to excel and succeed, regardless of age or gender.
The previous perception – that most interim managers were males, close to retirement age who wanted more time on the golf course and less time in the office, whilst still earning enough to pay for long lunches at the nineteenth hole – is now as outmoded as plus fours. With talent and skills in ever-increasing demand, interim management opens up the perfect playground to be recognized for key skills, whilst gaining a range of valuable experiences, and opportunities that might have been withheld in the past.
More women are taking the interim route, recognizing that there are key advantages to this freelance option. For women juggling a career with child-care obligations, interim management creates greater opportunities to have more control over home/work balance, or at least feel that they are able to priorities their needs on their terms to a greater extent. For example, timing the end of an assignment to coincide with long summer holidays offers an option to take time out without jeopardizing a career. There is also a growing recognition that some key elements of interim contracts can be undertaken at home, without the need to spend weeks in a hotel. So, it’s clear to see why a growing number of talented women are stepping in to this market.
There is, of course, a downside. As anyone who is essentially self-employed knows, life can feel precarious until the next work contract is negotiated. However, as more women step into interim management, they are also finding that it can provide a faster route to promotion and pushing the ‘glass ceiling’ of upper management, than remaining with one employer. Since interim managers are ‘judged’ purely on skills and expertise, many office bound prejudices lose momentum. What a relief to be free from office politics, or judgement about potential maternity leave and to be respected purely for the skills that you bring to an assignment.
With a recognised ‘war for talent’ acknowledged in every board room it’s not just women who are reaping the rewards as interim managers. As a career path, it can offer greater potential for those with drive and ambition, regardless of age. Talented thirty somethings can build an impressive CV, without stepping on toes; undertaking an assignment with a clear remit, won’t pose a threat to the established workforce, as, after all, they are only temporary.
Interim management is here to stay and doing well, in part, as a direct result of shaking up traditional corporate demographics. Perhaps the only threat it might pose is to the ‘old boys’ on the golf course.
The Circle Manifesto: A New Economic Model
The Circle Manifesto: A New Economic Model Based On Ancient Wisdom
Most businesses are structured like pyramids. People and resources are used to benefit those at the top who set policy to achieve maximum profit. This narrow focus, mandated in publicly held companies by the law of our land, has turned our basic human need for exchange into a destructive pattern.
"Consumers" slowly undermine their own wellbeing by supporting companies that function within local economies as neo-colonial entities. Money, disconnected from a place, is exported up to shareholders, leading to the fragmentation of economy and community. A few people at the top of the pyramid get very rich while we buy ten-dollar jeans at Wal-Mart and wonder where the money is for local schools.
Triangles - which make up pyramids - serve a vital function in nature (look at the tips of feathers, shark fins, waves or teeth). Triangles are about movement toward goals. But in nature, this triangular movement nurtures relationships to find a greater balance based on radical equality and interdependence: the circle.
Over the last eleven years, my wife and I have attempted to run our company based on the circle wisdom teachings of indigenous elders. We knew nothing about business when we started but we saw how it is that everything around us is alive and has a right to exist. Like fools, we sought to bring this understanding into the business world.
We noticed how decisions are based on a hierarchy of values that is often determined by societal patterns. A pyramidal business model becomes a story that is often constellated around war, competition and hierarchy. A circle-based approach, however, requires considering community and the right of all that is to exist in the center of one's decision making. One asks, is my action going to strengthen our interdependence or not?
Over time, we came up with this definition of purpose for a business based on circle wisdom to test our decision making processes:
The purpose of a circle-based business is to benefit community through relationships that are nurtured by fair and equitable exchange. Every person inside and outside of the business is viewed as equal in their humanity.
Our initial attempt to make our company circle-based brought contradictory results. Before I went into business I was a service volunteer, monk and high school teacher. Focus on money and numbers were both corrosive and grounding to my idealism, yet as I put my house on the card table and watched our company plummet into debt, I saw how it was entirely necessary. We could not actualize many of our values because we were just trying (praying) to forge relationships (sales) that would allow us to pay the next bill.
Yet we saw how nature's circles build prosperity and abundance. The foundation of any circle-based business is generosity toward employees. If one person takes more than their share out of the circle, you begin to become a pyramid. As soon as we began to feel some stability, we were able to implement a strong benefit package and pay ourselves.
Compensation is only one part of being circle-based. You also have to attend to how the energy flows around an organization. Ten employees means one hundred and twenty possible relationships.
A few years ago we learned how just one unhealthy, platonic relationship between two employees can create a situation that painfully impacts the entire organization. Emotional and spiritual well being of everyone in the circle viewed equally in their humanity requires a lot of vigilance and skill from all who form the company.
Circle-based business is a paradigm shift for everyone involved. The employee says, "You're the boss," which is correct. But a circle is strengthened by everyone taking responsibility for their arc. We avoid top-down unilateral decisions, and empower everyone to hold their own arc so that we can focus, as business leaders responsible for the flow of the whole, on prosperity for everyone.
Studies in the Harvard Business Review1 back the notion of how attending to the well being of employees is a best business practice. Increased commitment from employees who love their job can lead to a 57% increase in an employees' discretionary effort, a 20% increase in individual productivity and an 87% reduction in the desire to leave. (We've had three people quit in ten years.) The greatest indicator of business success is repeat business that comes from customer satisfaction. The greatest indicator of customer satisfaction is employee investment.
From a strong inner company circle, the circle-based businesses must also serve the greater Circle of Life, which is where this model becomes even more challenging.
Despite my efforts to be as green as we can, my business has a negative impact simply because our industry is not yet adequately supported by a market and supply chain. I finally have a supplier for recycled gold and silver, but can I afford to print our catalog on recycled paper when it doubles our cost? Not this year.
Since it costs more money to run a business in a way that serves the greatest good, the circle-based approach is ultimately a "spiritual" endeavor. Survival (ideally prosperity...) must be weighed against fair and equitable exchange. One lives in ethical gray areas. Finding the balance between money, humanity and sustainability becomes a kind of koan. Yet breaking free of current internal and external structures that no longer serve the common good can free a huge amount of human spiritual potential.
Ultimately, economy is either leading toward supportive interconnection, or toward our continued fragmentation. If we are to survive, we must begin to see how giving back is the only way to generating prosperity and abundance for all.
Most businesses are structured like pyramids. People and resources are used to benefit those at the top who set policy to achieve maximum profit. This narrow focus, mandated in publicly held companies by the law of our land, has turned our basic human need for exchange into a destructive pattern.
"Consumers" slowly undermine their own wellbeing by supporting companies that function within local economies as neo-colonial entities. Money, disconnected from a place, is exported up to shareholders, leading to the fragmentation of economy and community. A few people at the top of the pyramid get very rich while we buy ten-dollar jeans at Wal-Mart and wonder where the money is for local schools.
Triangles - which make up pyramids - serve a vital function in nature (look at the tips of feathers, shark fins, waves or teeth). Triangles are about movement toward goals. But in nature, this triangular movement nurtures relationships to find a greater balance based on radical equality and interdependence: the circle.
Over the last eleven years, my wife and I have attempted to run our company based on the circle wisdom teachings of indigenous elders. We knew nothing about business when we started but we saw how it is that everything around us is alive and has a right to exist. Like fools, we sought to bring this understanding into the business world.
We noticed how decisions are based on a hierarchy of values that is often determined by societal patterns. A pyramidal business model becomes a story that is often constellated around war, competition and hierarchy. A circle-based approach, however, requires considering community and the right of all that is to exist in the center of one's decision making. One asks, is my action going to strengthen our interdependence or not?
Over time, we came up with this definition of purpose for a business based on circle wisdom to test our decision making processes:
The purpose of a circle-based business is to benefit community through relationships that are nurtured by fair and equitable exchange. Every person inside and outside of the business is viewed as equal in their humanity.
Our initial attempt to make our company circle-based brought contradictory results. Before I went into business I was a service volunteer, monk and high school teacher. Focus on money and numbers were both corrosive and grounding to my idealism, yet as I put my house on the card table and watched our company plummet into debt, I saw how it was entirely necessary. We could not actualize many of our values because we were just trying (praying) to forge relationships (sales) that would allow us to pay the next bill.
Yet we saw how nature's circles build prosperity and abundance. The foundation of any circle-based business is generosity toward employees. If one person takes more than their share out of the circle, you begin to become a pyramid. As soon as we began to feel some stability, we were able to implement a strong benefit package and pay ourselves.
Compensation is only one part of being circle-based. You also have to attend to how the energy flows around an organization. Ten employees means one hundred and twenty possible relationships.
A few years ago we learned how just one unhealthy, platonic relationship between two employees can create a situation that painfully impacts the entire organization. Emotional and spiritual well being of everyone in the circle viewed equally in their humanity requires a lot of vigilance and skill from all who form the company.
Circle-based business is a paradigm shift for everyone involved. The employee says, "You're the boss," which is correct. But a circle is strengthened by everyone taking responsibility for their arc. We avoid top-down unilateral decisions, and empower everyone to hold their own arc so that we can focus, as business leaders responsible for the flow of the whole, on prosperity for everyone.
Studies in the Harvard Business Review1 back the notion of how attending to the well being of employees is a best business practice. Increased commitment from employees who love their job can lead to a 57% increase in an employees' discretionary effort, a 20% increase in individual productivity and an 87% reduction in the desire to leave. (We've had three people quit in ten years.) The greatest indicator of business success is repeat business that comes from customer satisfaction. The greatest indicator of customer satisfaction is employee investment.
From a strong inner company circle, the circle-based businesses must also serve the greater Circle of Life, which is where this model becomes even more challenging.
Despite my efforts to be as green as we can, my business has a negative impact simply because our industry is not yet adequately supported by a market and supply chain. I finally have a supplier for recycled gold and silver, but can I afford to print our catalog on recycled paper when it doubles our cost? Not this year.
Since it costs more money to run a business in a way that serves the greatest good, the circle-based approach is ultimately a "spiritual" endeavor. Survival (ideally prosperity...) must be weighed against fair and equitable exchange. One lives in ethical gray areas. Finding the balance between money, humanity and sustainability becomes a kind of koan. Yet breaking free of current internal and external structures that no longer serve the common good can free a huge amount of human spiritual potential.
Ultimately, economy is either leading toward supportive interconnection, or toward our continued fragmentation. If we are to survive, we must begin to see how giving back is the only way to generating prosperity and abundance for all.
Certificate Of Deposits
All about CDs (Certificate Of Deposits)
When the richest people in the world are asked to give advice about how to earn and retain money, their response almost always resounds with the same principles: Your money should always be working for you, instead of you working for it.
The ideal situation is to put your money into something with a high rate of return. Then, while you are enjoying life, your money is constantly returning more. One option is to put your money in a CD (Certificate of Deposit), which is a type of account offered by many banks. They don't work like regular bank accounts. So if you've been contemplating ways to make your money work for you, read on.
CDs are characterized by being registered for at a fixed amount of time. When you put your money in, you tell the bank that you are going to leave it for a certain amount of time. The most common amounts are 3 months, 6 months, or any amount of years up to 5. The specific interest rate is set at the beginning, and does not change over the period of time.
The money in the CD is held until it 'matures', at which point the customer can withdraw it without bringing about any fees (which are applied if he or she withdraws before the date of maturation).
This may sound like a bad deal, but consider this: since the customer has to put up with having their cash unavailable for so long, they have their diligence rewarded with a particularly high interest rate. This is the aspect that attracts people to using CDs. Since they are offered by regular banks, they are completely insured. This makes them an almost entirely risk free investment, as long as you know you won't need the money.
If you've got a large sum of money sitting around and you're not doing anything else with it, then you should make every effort to put it to work. Some people are not cut out for high risk investments like the stock market. If this is the case, then the calm assuredness of CDs could be perfect for you.
Talk to people at your local banks to find their specific terms and conditions for CDs. Look for things like flexible liquidity, high interest rates, and time periods that suit your needs. Hopefully you will find something that is perfect for your finances, and will put your money to good use.
How to negotiate a better salary
If you want to make the most of your career you'll want to negotiate your salary in the best way possible. Where a lot of people make a mistake with that is, they talk about the salary that they expect to get on their resume or cover letter and that, can get them weeded out of the applicant pool before they ever even get an interview. You'll want to avoid any mention of how much you expect the company to pay you when you submit your application, resume, or cover letter to them. It's not a good idea, because you might set your expectations too high and be turned down right away. If you set them too low you could end up making your prospective employer think that you really aren't worth anything or that you have no confidence in yourself. Neither one of these scenarios is likely to get you an interview, much less get you the job. If you're specifically asked about a salary requirement you can state that you are looking for the market rate, or that your salary requirements are open but you're sure a company such as that one would pay market rate.
Those are nice ways to say that you expect to be paid well without coming out and putting a dollar figure on your employment opportunity. Once you've been through the entire recruitment process and have been hired is the time to start discussing dollar figures, because then you have a position of strength. The employer probably doesn't want to spend a lot of time going through the recruitment process with someone else, so he or she will be more willing to negotiate as long as you don't get greedy. Know in advance what the salary range is for your job in that area of the country and understand that you'll need to stay within that. An employer isn't going to want to pay more for what is essentially still an unknown quantity. You should also stick with the old adage that you won't get anything unless you ask. If you've shown the employer what you have to offer, ask for what you really think is fair and then negotiate from that point.
When the richest people in the world are asked to give advice about how to earn and retain money, their response almost always resounds with the same principles: Your money should always be working for you, instead of you working for it.
The ideal situation is to put your money into something with a high rate of return. Then, while you are enjoying life, your money is constantly returning more. One option is to put your money in a CD (Certificate of Deposit), which is a type of account offered by many banks. They don't work like regular bank accounts. So if you've been contemplating ways to make your money work for you, read on.
CDs are characterized by being registered for at a fixed amount of time. When you put your money in, you tell the bank that you are going to leave it for a certain amount of time. The most common amounts are 3 months, 6 months, or any amount of years up to 5. The specific interest rate is set at the beginning, and does not change over the period of time.
The money in the CD is held until it 'matures', at which point the customer can withdraw it without bringing about any fees (which are applied if he or she withdraws before the date of maturation).
This may sound like a bad deal, but consider this: since the customer has to put up with having their cash unavailable for so long, they have their diligence rewarded with a particularly high interest rate. This is the aspect that attracts people to using CDs. Since they are offered by regular banks, they are completely insured. This makes them an almost entirely risk free investment, as long as you know you won't need the money.
If you've got a large sum of money sitting around and you're not doing anything else with it, then you should make every effort to put it to work. Some people are not cut out for high risk investments like the stock market. If this is the case, then the calm assuredness of CDs could be perfect for you.
Talk to people at your local banks to find their specific terms and conditions for CDs. Look for things like flexible liquidity, high interest rates, and time periods that suit your needs. Hopefully you will find something that is perfect for your finances, and will put your money to good use.
How to negotiate a better salary
If you want to make the most of your career you'll want to negotiate your salary in the best way possible. Where a lot of people make a mistake with that is, they talk about the salary that they expect to get on their resume or cover letter and that, can get them weeded out of the applicant pool before they ever even get an interview. You'll want to avoid any mention of how much you expect the company to pay you when you submit your application, resume, or cover letter to them. It's not a good idea, because you might set your expectations too high and be turned down right away. If you set them too low you could end up making your prospective employer think that you really aren't worth anything or that you have no confidence in yourself. Neither one of these scenarios is likely to get you an interview, much less get you the job. If you're specifically asked about a salary requirement you can state that you are looking for the market rate, or that your salary requirements are open but you're sure a company such as that one would pay market rate.
Those are nice ways to say that you expect to be paid well without coming out and putting a dollar figure on your employment opportunity. Once you've been through the entire recruitment process and have been hired is the time to start discussing dollar figures, because then you have a position of strength. The employer probably doesn't want to spend a lot of time going through the recruitment process with someone else, so he or she will be more willing to negotiate as long as you don't get greedy. Know in advance what the salary range is for your job in that area of the country and understand that you'll need to stay within that. An employer isn't going to want to pay more for what is essentially still an unknown quantity. You should also stick with the old adage that you won't get anything unless you ask. If you've shown the employer what you have to offer, ask for what you really think is fair and then negotiate from that point.
The Risks of Investment
The Risks of Investment
No investment goes without risk. In fact, the two go hand in hand. Risk is the possibility of loss to an investment. With all investments there are risks.
There is no guarantee that you will receive all if any, of your maximum possible return. Fortunately there are varying degrees of risk in different
Investments and understanding these risks give one better chances are being able to mitigate their effects. The simplest risk is the loss of principle,
which is the original money invested. When buying stocks, mutual funds, even real estate there is no guarantee that all of the principle will be
regained. However, there are ways to avoid this risk. Putting money into a savings account is a surefire way to ensure the return of a principle
investment. Buying fixed term deposits, and investment grade surety bonds are also ways of ensuring the return of a principle investment. Market risk
is another type of risk to potential investors. This risk is the risk one takes when investing in a particular market, i.e. the United States Market. The idea
of market risk is based on the fact that if the an market will fall. When that happens all investments in that particular market will begin to slide, much
like what is happening today in the US market. To lessen the effects of market risk, the best idea is to diversify investments into many different
markets. This way, if one market fails, there are a few other to back up one’s investments. Of course investing in foreign market introduces
new risks such as currency risk, but the effects of these new risks are significantly lowered because of the investments are diversified. Inflation is
another type of risk to potential investors. Inflation risk involves the risk that the money of an investment will hold less value than it currently does. This
risk has the biggest effect on people who do not invest their money and instead leave it in a savings account gaining a small percentage each year. If
the money is invested in the stock market, as inflation grows so will the money invested. Unfortunately, inflation is a risk that never goes away. These
three are just a few basic risks to investments, there are many more. Risks like political risk, liquidity risk, reinvestment risk, manager risk, opportunity
risk, concentration risk, the list goes on. There are many risks out there, too many to list, but understanding these risks and playing the market right
can help diminish the effects of such risks.
No investment goes without risk. In fact, the two go hand in hand. Risk is the possibility of loss to an investment. With all investments there are risks.
There is no guarantee that you will receive all if any, of your maximum possible return. Fortunately there are varying degrees of risk in different
Investments and understanding these risks give one better chances are being able to mitigate their effects. The simplest risk is the loss of principle,
which is the original money invested. When buying stocks, mutual funds, even real estate there is no guarantee that all of the principle will be
regained. However, there are ways to avoid this risk. Putting money into a savings account is a surefire way to ensure the return of a principle
investment. Buying fixed term deposits, and investment grade surety bonds are also ways of ensuring the return of a principle investment. Market risk
is another type of risk to potential investors. This risk is the risk one takes when investing in a particular market, i.e. the United States Market. The idea
of market risk is based on the fact that if the an market will fall. When that happens all investments in that particular market will begin to slide, much
like what is happening today in the US market. To lessen the effects of market risk, the best idea is to diversify investments into many different
markets. This way, if one market fails, there are a few other to back up one’s investments. Of course investing in foreign market introduces
new risks such as currency risk, but the effects of these new risks are significantly lowered because of the investments are diversified. Inflation is
another type of risk to potential investors. Inflation risk involves the risk that the money of an investment will hold less value than it currently does. This
risk has the biggest effect on people who do not invest their money and instead leave it in a savings account gaining a small percentage each year. If
the money is invested in the stock market, as inflation grows so will the money invested. Unfortunately, inflation is a risk that never goes away. These
three are just a few basic risks to investments, there are many more. Risks like political risk, liquidity risk, reinvestment risk, manager risk, opportunity
risk, concentration risk, the list goes on. There are many risks out there, too many to list, but understanding these risks and playing the market right
can help diminish the effects of such risks.
Monday, January 19, 2009
QB -16 marks pom
ANAND INSTITUTE OF HIGHER TECHNOLOGY
KAZIPATTUR , CHENNAI
QUESTION BANK
PRINCIPLES OF MANAGEMENT /MG1351
PART –B SIXTEEN MARKS QUESTION
UNIT – I – HISTORICAL DEVELOPMENT
1. Explain the principle of F.W. Taylor theory.
2. Explain the Henry Fayol management theory.
3. What are the major functions of management explain?
4. Indicate the levels and skills of management.
5. Explain management is an art or science both science and art.
6. Indicate the roles of management by Henry Mintzberg.
7. Explain the contributions of Elton mayo and max Weber.
8. Explain the contributions of Mary porker Follett.
9. Describe the social responsibilities of management.
10. Explain the different types of Business organization.
UNIT –II – PLANNING
1. Describe the various elements in planning.
2. What are different types of plans? Explain.
3. Give an account of various steps involved in planning.
4. Describe the different objectives of planning.
5. Define MBO. List out the features of MBO.
6. Explain briefly the benefits and weakness of MBO.
7. State and explain the eight recommendations that should considered by managers for successful implementation of strategies.
8. Discuss the factors for strategies policies and planning premises..
9. Explain modern approaches to decision making under uncertainty.
10. Write short notes on any 2 important modern approaches to decision making under uncertainty.
11. Define Decision Making and explain the process of decision making that affects the efficiency of the business decisions.
12. Define forecasting. Explain the techniques of forecasting.
UNIT-III – ORGANISING
1.Define organization. Explain the nature of an organization.
2. Give a brief account of at least six mistakes in organizing.
3. Explain how formal organization is different from informal organization. Illustrate.
4. How does a leader influence organization culture?
5. Discuss about the factors determining an effective span of control.
6. Define Departmentation. Explain the various Departmentation.
7. Explain the line organization with a neat sketch.
8. Explain the concept of functional authority. How do you delegate it/
9. Explain the concept of decentralization.
10. Briefly explain the factors determining the degree of decentralization of authority.
11. Define HRP. Explain the steps involved in HRP.
12. What is recruitment? Explain the sources of recruitment.
13. Define selection. Explain the steps involved in selection process.
14. What do you mean by performance appraisal? Discuss its need and importance in an organization.
15. Explain the different methods of appraisal system.
16. What are the methods of training?
17. Explain the ten steps in formulating career strategy.
18. What is peter principle? What do you think of it?
19. Explain in detail the various types of conflict. Give examples that are relevant to each type of conflict.
20. Explain the role and characteristics of OD.
UNIT- IV - DIRECTING
1. Discuss the scope of directing.
2. What are the human factors in managing? Explain briefly each.
3. Discuss the various steps involved in creative process.
4. Describe theory X and theory Y.
5. What are some possible implications of theories X and Y, staffing, leading and controlling.
6. Enumerate the assumptions of Mc Gregor’s theory X and Y.
7. Define Motivation. Explain the maslow’s hierarchy needs.
8. Explain the concept Hertzberg two factor motivation theories.
9. What are the various types of motivation and explain each in detail.
10. Explain how motivation helps an organization to improve productivity?
11. Explain vroom,s expectancy theory.
12. Explain with neat flow diagram the porter and Lawler expectancy theories.
13. Briefly explain about the three types of basic motivating needs proposed by Mc cleeland.
14. Write short notes on the managerial grids.
15. Explain the different styles of leadership based on authority.
16. Explain the importance of strong leadership in the creation of cohesive work in an industrial organization.
17. Explain the qualities required for effective leadership.
18. What are the barriers to effective communication? Explain them.
19. Discuss the importance communication in a modern industrial organization.
20. What are communication barriers and suggest measures how communication be made effective?
UNIT-V – CONTROLLING
1. What is controlling? Discuss its needs. What do you think about the characteristics of good control system?
2. Explain the steps in the process of controlling.
3. Explain the types of control.
4. Explain the steps involving the implementations of Budgetary control.
5. Explain the classification of Budget.
6. PERT is management technique of planning and control. Explain
7. planning and control are the inseparable twins of management. Explain.
8. Explain the role of MIS play at various levels of management.
9. What tools generally found in operation research have been widely used in production and operations management?
10. What are the effective steps for direct control and preventive control?
11. What are the factors affect the operations of the multi national enterprises? Explain.
12. What advantages do multinational corporations have? What are the advantages of MNC?
13. Explain a unified global theory of management?
14. Discuss about the general steps involved in the operation research procedure?
15. Discuss the factors determining span of control.
KAZIPATTUR , CHENNAI
QUESTION BANK
PRINCIPLES OF MANAGEMENT /MG1351
PART –B SIXTEEN MARKS QUESTION
UNIT – I – HISTORICAL DEVELOPMENT
1. Explain the principle of F.W. Taylor theory.
2. Explain the Henry Fayol management theory.
3. What are the major functions of management explain?
4. Indicate the levels and skills of management.
5. Explain management is an art or science both science and art.
6. Indicate the roles of management by Henry Mintzberg.
7. Explain the contributions of Elton mayo and max Weber.
8. Explain the contributions of Mary porker Follett.
9. Describe the social responsibilities of management.
10. Explain the different types of Business organization.
UNIT –II – PLANNING
1. Describe the various elements in planning.
2. What are different types of plans? Explain.
3. Give an account of various steps involved in planning.
4. Describe the different objectives of planning.
5. Define MBO. List out the features of MBO.
6. Explain briefly the benefits and weakness of MBO.
7. State and explain the eight recommendations that should considered by managers for successful implementation of strategies.
8. Discuss the factors for strategies policies and planning premises..
9. Explain modern approaches to decision making under uncertainty.
10. Write short notes on any 2 important modern approaches to decision making under uncertainty.
11. Define Decision Making and explain the process of decision making that affects the efficiency of the business decisions.
12. Define forecasting. Explain the techniques of forecasting.
UNIT-III – ORGANISING
1.Define organization. Explain the nature of an organization.
2. Give a brief account of at least six mistakes in organizing.
3. Explain how formal organization is different from informal organization. Illustrate.
4. How does a leader influence organization culture?
5. Discuss about the factors determining an effective span of control.
6. Define Departmentation. Explain the various Departmentation.
7. Explain the line organization with a neat sketch.
8. Explain the concept of functional authority. How do you delegate it/
9. Explain the concept of decentralization.
10. Briefly explain the factors determining the degree of decentralization of authority.
11. Define HRP. Explain the steps involved in HRP.
12. What is recruitment? Explain the sources of recruitment.
13. Define selection. Explain the steps involved in selection process.
14. What do you mean by performance appraisal? Discuss its need and importance in an organization.
15. Explain the different methods of appraisal system.
16. What are the methods of training?
17. Explain the ten steps in formulating career strategy.
18. What is peter principle? What do you think of it?
19. Explain in detail the various types of conflict. Give examples that are relevant to each type of conflict.
20. Explain the role and characteristics of OD.
UNIT- IV - DIRECTING
1. Discuss the scope of directing.
2. What are the human factors in managing? Explain briefly each.
3. Discuss the various steps involved in creative process.
4. Describe theory X and theory Y.
5. What are some possible implications of theories X and Y, staffing, leading and controlling.
6. Enumerate the assumptions of Mc Gregor’s theory X and Y.
7. Define Motivation. Explain the maslow’s hierarchy needs.
8. Explain the concept Hertzberg two factor motivation theories.
9. What are the various types of motivation and explain each in detail.
10. Explain how motivation helps an organization to improve productivity?
11. Explain vroom,s expectancy theory.
12. Explain with neat flow diagram the porter and Lawler expectancy theories.
13. Briefly explain about the three types of basic motivating needs proposed by Mc cleeland.
14. Write short notes on the managerial grids.
15. Explain the different styles of leadership based on authority.
16. Explain the importance of strong leadership in the creation of cohesive work in an industrial organization.
17. Explain the qualities required for effective leadership.
18. What are the barriers to effective communication? Explain them.
19. Discuss the importance communication in a modern industrial organization.
20. What are communication barriers and suggest measures how communication be made effective?
UNIT-V – CONTROLLING
1. What is controlling? Discuss its needs. What do you think about the characteristics of good control system?
2. Explain the steps in the process of controlling.
3. Explain the types of control.
4. Explain the steps involving the implementations of Budgetary control.
5. Explain the classification of Budget.
6. PERT is management technique of planning and control. Explain
7. planning and control are the inseparable twins of management. Explain.
8. Explain the role of MIS play at various levels of management.
9. What tools generally found in operation research have been widely used in production and operations management?
10. What are the effective steps for direct control and preventive control?
11. What are the factors affect the operations of the multi national enterprises? Explain.
12. What advantages do multinational corporations have? What are the advantages of MNC?
13. Explain a unified global theory of management?
14. Discuss about the general steps involved in the operation research procedure?
15. Discuss the factors determining span of control.
QB 2 marks
ANAND INSTITUTE OF HIGHER TECHNOLOGY
KAZIPATTUR , CHENNAI
QUESTION BANK
MERCHANT BANKING AND FINANCIAL SERVICES/BA728
PART –A TWO MARKS QUESTION AND ANSWER
UNIT – I – HISTORICAL DEVELOPMENT
1. What is Management?
Management is the process of giving direction and controlling the various activities of the people to achieve the objectives of an organization.
2. Define Management.
According to Knootz and Weihrich “Management is the process of designing and maintaining of an environment in which individuals working together in groups, efficiently accomplish selected aims”.
3. Write some characteristics of Management.
Management is a continuous process.
Manager use the resources of the organization both physical as well as human to
Achieve goals.
Management aims act achieving the organization goals by ensuring effective use of Resources.
4. What are the roles of management in organization?
1. Management helps in determination of the objectives of an organization.
2. Economic and social development takes place through management.
5. Write any 2 points favor for management as a science.
1) Management principles should be verifiable.
2) Reliable basis through management.
6. Write any 2 points favor for management as an art.
i. Management is creative.
ii. Management includes the use of practical knowledge and personal skill.
7. Who is the father of Scientific management?
Frederick Winslow Taylor.
8. What is Time Study?
The movements which takes the minimum time is the best one.
9. What is Motion Study?
Taylor suggested that eliminating wasteful movements and performing only necessary movements.
10. Write Fayol’s 14 principles of management.
Division of work
Authority and Responsibility
Discipline
Unity of Command
Unity of direction
Individual interest to general interest
Remuneration
Centralization
Scalar chain
Order
Equity
Stability
Initiative
ESprite de crops.
11. What is Authority?
It is the power given to a person to get work from the subordinates.
12. What is Responsibility?
It is the amount of work expected of from a man by his superior.
13. Comment: Management is both- A science and an art.
Management is a science because it contains general principles. It is also an art because it requires certain personal skills to be achieve desired results.
14. What is Centralization?
The organization is centralized when the power is concentrated with one person.
15. What is Decentralization?
If the power is fully distributed to the subordinates of the organization.
16. What is Esprit – de- crops?
This means union is strength. In organization employees should be harmony and unity.
17. What are Management Levels?
Top level
Middle level
Lower level
18. Write the functions of management.
Planning
Organizing
Staffing
Coordinating
Controlling
19. What are the essential skills need for the managers?
Technical skill
Human skill
Conceptual skill.
20. Define Sole trading.
The sole proprietorship is that form of business organization which is owned and controlled by a single individual.
21. What is Partnership?
A partnership is an association of two or more persons to carry on business and to share its profit and lossess.
22. What is Joint stock company?
A private limited company is a company which has a minimum paid up capital destroyed be prescribed.
24. What is a Co-operative society?
It is a voluntary association of persons for mutual benefit and it aims accomplished through self help and collective effort.
25. What is a social responsibility?
Society is the parts of the management to interact actions wither to protect social interest a society.
UNIT –II - PLANNING
1.Define planning.
Planning is the process of selecting the objectives and the determining the course of action required to achieve these objectives.
2. What are the objectives of planning?
Planning is the primary function of an organization
It helps in achieving objectives
It is done to cope with uncertainty and change
It helps in facilitating control
It helps in coordination
It increases organizational effectiveness.
It guides in decision making.
3. List out the features of planning.
Planning –a primary function
Planning – a dynamic process
Planning – based on objectives and policies
Planning – a selective process
Pervasiveness of planning.
4. What are the different types of planning?
STANDING PLANS SINGLE USE PLANS
Mission or purpose Programmes
Objectives Budgets
Strategies Schedules
Policies Methods
Procedures projects
Rules
5.Define Mission.
Mission may be defined as “as a statement which defines the role that an organization plays in the society ”.
6. Define objectives.
The term objectives or goals are often used interchangeably. Objectives are the end results towards which the activities of firm are aimed or directed.
7.What is meant by strategy?
Strategy of an organization is the programmes of action and deployment of resources to attain its objectives.
8. What are the factors to be considered while formulating strategies?
1. Mission and objectives of an organization.
2. Values, aspirations and prejudices of top level management
3. Opportunities and threads of the external environment.
4. Strength and weakness of the firm in various aspects such as funds, organization structure, human talent, technology, etc.
9.Define policies.
Policies are general statements or understandings which provide guidance in decision making to various managers.
10. What is procedure?
Procedure is a chronological order of actions required to implement a policy and to achieve an objectives.
11. How rules can be defined?
Rules are plans in which they suggest the required course of action .
12. What is programme?
Programme is a broad term which includes goals, policies, procedure, rules, task assignment, steps to be taken, resources to be employed to carry out a given course of action.
13. Define Budgets.
A budget is a statement of expected results in numerical terms and therefore, it may be referred as a numerical programme.
14. Classify budgets.
i. Variable budgets or Flexible budgets
ii. Programme budgets
iii. Zero-base budget
15. Give the flow diagram of planning steps.
SERIAL NUMBER PLANNING STEPS
1 Identification of opportunities
2 Establishment of objectives
3 Developing planning premises
4 Identification of alternatives
5 Evaluation of alternatives
6 Selecting an alterative
7 Formulating derivative plans
8 Establishing sequence of activities
16. What is objective?
Objectives are the aims, purposes or goals that an organization wants to achieve over varying periods of time.
17. List down the guidelines for the objective setting.
1. objective should cover the main features of the job
2. objectives must be clearly specified in writing
3. The list of objectives should not be too long. Wherever it is possible, combine some objectives to make the list reasonable.
4. objectives should be verifiable.
18. Mention the different areas of an organization towards objective setting.
Market standing
Innovation
Productivity
Resources- physical and financial
Profitability
Manager performance and development
Public responsibility
Worker performance, attitude and development.
19. What are the benefits of objective setting?
i. It sets specific targets for the employee to achieve which are liked to business/ development plan.
ii. It states how the performance of the employee is to be measured to assess progress.
iii. It provides direction of the employee.
iv. It allows progress, targets, and successes to be monitored and measured by the manager.
v. It helps build working relationships between the employee and the manager and improves overall communications.
20. What is MBO?
MBO is a process where by the superior and the subordinate managers of an enterprise jointly identify its common goals, define each individual’s major areas of responsibility in terms of results expected of him, and use these measures as guides for operating the unit and the contribution of each of its members is assessed.
21. What are the benefits of MBO?
o Improvement of managing
o Clarification of organization
o Personnel satisfaction
o Team work
o Development of effective control.
22. Explain the term decision and decision making.
A decision may be a direction to other to do or not to do. Decision making is defined as the process of choosing a course of action from among alternatives to achieve a desired goal. It is one of the functions of management and also a core process of planning. The management executive takes a number of decisions every day. Thus, a decision may be rational or irrational. There are number of alternatives available to the management. The best one is selected out of the available alternatives.
23. Write down the process followed in decision – making process.
SERIAL NUMBER DECISION MAKING PROCESS- STEPS
1 Identification of problem
2 Diagnosis and analysis the problem
3 Search for alternatives
4 Evaluation of alternatives
5 Selecting an alternatives
6 Implementation and follow up
7 Feed back
24. What is planning premises?
The assumptions about future derived from forecasting and used in planning are known as planning premises.
25. How would you evaluate the importance of a decision?
Decision making is a selection process. The best alternative is selected out of many available alternatives.
Decision-making is a goal –oriented process.
Decision making is the end process.
Decision making is a human and rational process involving the application of intellectual abilities.
Decision making is a dynamic process.
UNIT-III - ORGANISING
1. Define organizing.
Organizing 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.
2. What do you understand by effective organizing?
Effective organizing focuses on finding mistakes in present organizing and avoiding such mistakes by proper planning. Effective organizing avoids organizational inflexibility and makes the staff work effectively by avoiding conflicts by clarification.
3. Mention any 4 characteristics of an organization.
Common objectives
Specialization or division of labor
Authority of structure
Group of persons.
4. State the kinds of organizational charts.
Vertical chart
Horizontal or left to right chart
Circular or concentric chart.
5. What is Span of control?
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 term because control and supervision are elements of management.
6. Mention the 3 categories of span of management.
1. Direct single relationship
2. Direct group relationship
3. Cross relationship.
7. State the important factors in determining an effective span.
SERIAL NUMBER FACTORS DETERMINING AN EFFECTIVE SPAN
1 Capacity of superior
2 Capacity of subordinate
3 Nature of work
4 Type of technology
5 Delegation of authority
8. What are the types of Departmentation?
SERIAL NUMBER TYPES OF DEPARTMENTATION
1 Departmentation by numbers
2 Departmentation by time
3 Departmentation by Enterprise function
4 Departmentation by Territory
5 Departmentation by Customers
6 Departmentation by equipment or process
7 Departmentation by product or service
9. What is a matrix structure?
Matrix structure is a hybrid organizational form, containing characteristics of both project and functional structures.
10. How can we define power?
“power is the probability that one actor within the relationship will be in a position to carry out his own despite resistance”.
11. What is Staff authority?
The relationship between a staff manager and the line manager with whom he works depends in part on the staff duties.
12. Define Staffing.
Staffing is the part of the management process which is concerned with the procurement utilization, maintenance and development of a large satisfied work force on the organization.
13. Define HRP.
“HRP is the process by which an organization ensures that it has the right number and kind of people at the right place at the right time, capable of effectively and efficiently completion, those tasks that will help the organization achieve its overall objectives”.
14. What are the steps involved in man power planning?
Forecasting man power needs
Forecasting man power inventory
Identifying man power gaps
Man power programme.
15. What is job analysis?
Job analysis is a detailed study of job to identify the skills, experience and aptitude required for the job.
16. What is job design?
The job design is usually broad enough to accommodate people’s, need and desires.
17. What is job rotation?
The job rotation refers in the movement of an employee from the job to another.
18. Define Recruitment.
B. FIPPO defined recruitment as “the process of searching for prospective employees and stimulating to apply for jobs in the organization”.
19. What is selection?
Selection is the process of finding out the most suitable candidate to the job out of the candidates attached.
20. What are the steps involved in selection process?
SERIAL NUMBER SELECTION PROCESS
1 Screening of applications
2 Selection tests
3 Preliminary interview
4 Reference check
5 Medical examination
6 Final interview
7 Approved by appropriate authority
8 Placement
21. What is performance appraisal?
Performance appraisal evaluates the performance of worker also his potential for development.
22. What is Halo effect?
It is tendency of rather to depend excessively on the rating of one. Trait or behavioral consideration in rating all other traits or behavioral considerations.
23. What is assessment centre?
In this approach individuals from various departments are brought together to spend two or three days working on an individual or group assignment similar to the ones they would be handling when promoted.
24. Define Training.
According to B.FIPPO “training is the act of increasing the knowledge and skills of an employee for doing a particular job”.
25. What are the methods of Training?
SERIAL NUMBER ON THE JOB TRAINING SERIAL NUMBER OFF THE JOB TRAINING
1 Job rotation 1 Lecture
2 Apprenticeship and coaching 2 Seminars
3 Committee assignments 3 Case studies
4 Experience 4 Business game
5 Temporary promotions 5 In basket method
26. What is basket training method?
Basket contains a number of correspondences like memo, circulars, lectures and reports. The trainees are required to solve ach problem and to record their decisions within a specified tie period. This training is promotes the skills like logical thinking, time management skill and decision making skill.
UNIT- IV - DIRECTING
1. What is meant by the term directing?
Directing may be defined as the process of instructing, guiding and inspiring human factors in the organization to achieve organization objectives. It is not only issuing orders and instruction by a superior to his subordinates but also including the process of guiding and inspiring them to work effectively.
2. List down the human factors in managing.
Multiplicity of roles
Individuality
Personal dignity
3. Define creativity.
Creativity is defined as the ability to produce new and useful ideas through the combination of know principles and components in novel and non obvious ways. Creativity exists throughout the population, largely independent of age, sex, and education.
4. What are the steps involved in creative process?
Saturation
Preparation
Frustration and incubation
Inspiration or illumination
Verification.
5. How are problems solved by creative tool?
Creativity tools are designed to help you devise, creative and imaginative solutions to problems. It helps you spot opportunities that you might otherwise miss.
6. What does SCAMPER stand for?
S - Substitute
C - Combine
A - Adapt
M - Modify
P - Put to another use
E - Eliminate
R - Reverse
7. What are the steps involved in simplex tool?
1. problem finding
2. fact finding
3. problem identification
4. idea finding
5. selection and evaluation
6. planning
7. sell data
8. Action.
8. How can be harmonizing objectives achieved?
1. Mutual trust
2. Cooperation and understanding.
3. Workers participation in management, and
4. Balancing the objectives of the organization with those of individuals.
9. Define “multiplicity of roles”.
Individuals are not only the productive factor in management’s plans. They are members of social system of many organizations.
10. What is meant by brain storming?
Brain storming is an excellent way of developing many creative solutions to a problem. It works by focusing on a problem, and then coming up with very many radical solutions to it. The essence of brainstorming is a creative conference, ideally of 8 to 12 people meeting for less than an hour to develop a long list of 50 or more ideas. Suggestions are listed without criticism on a black board or news print as they are offered.
11. Define Motivation.
Motivation is a general term applying to the entire class of drives, desires, needs wishes and similar forces that induce an individual or a group of people to work.
12. What are the steps involved in motivation process?
Analysis of situation
Preparing, selecting and applying a set of appropriate motivating tools.
Follow up.
13. What are the types of motivation?
Positive motivation
Negative motivation
Extrinsic motivation
Intrinsic motivation
14. List out the basic needs in a hierarchy.
1. Physiological needs
2. Safety needs
3. Social needs
4. Esteem needs
5. Self- actualization needs.
15. What is job enrichment?
Job enrichment is therefore based on the assumptions that in order to motivate personnel, the job itself must provide opportunities for achievement, recognition, responsibility, advancement and growth.
16. Define leadership.
Leadership is the process of influencing the behavior of others towards the accomplishment of goals in a given situation.
17. Mention the importance of leadership.
i. Motivating employees
ii. Leader develops team work
iii. Better utilization of manpower
iv. Creating confidence to followers
v. Directing group activities
vi. Building morale
vii. Maintaining discipline.
18. List out few leadership traits.
• The Michigan studies
• The ohio state university studies
• The managerial grid.
19. Name the various leadership styles.
• Autocratic or Dictatorial leadership
• Participative or Democratic leadership.
• Laissez- faire or Free- rein leadership.
20. What is communication?
Communication is the passing of information from one person to another person.
21. Mention the various elements in the process of communication?
1. sender
2. communication channels
3. symbols
4. receiver
5. noise and feedback in communication.
22. Name the various types of communication.
1. Down ward communication
2. Upward communication
3. Horizontal or lateral communication.
23. Note down the various communicating networks.
1. simple chain
2. wheel
3. circular
4. free flow
5. inverted v
24. What are the physical barriers involved in effective communication.
1. physical barriers
2. socio-psychological or personal barriers
3. organizational barriers
4. semantic barriers
5. mechanical barriers.
25. List out the various effective media in communication.
A large bank supplies hardware and software to its customers
Several banks now make bank – by – phone services available even to individuals.
E- mail service making easy delivery of documents.
UNIT-V – CONTROLLING
1. Define Control.
According to koontz “controlling to the measurement and correction of performance in order to make sure that enterprise objectives and the plans devised to attain them are accomplished”.
2. What are the characteristics of control?
Control process is universal
Control is a continuous process
Control is action based
Control is forward looking.
3. Why need of control in the organization?
Control can minimize the mistakes
To discover the deviations in the management
To minimize dishonest behavior of employees.
4. Give some critical point standards of control.
Cost standards
Revenue standards
Goals standards
Program standards.
5. What are the types of control?
Feedback control
Concurrent control
Feed forward control
6. What are the requirements for effective control?
i. The control should be economical
ii. It must be simple
iii. It should be flexible
iv. It should be clear objectives.
7. What is management by exception?
Actual performance compare with the standard performance deviations which cannot significant should be avoid.
8. What are traditional techniques of control?
i. Personal observation
ii. Break –even analysis
iii. Statistical reports
iv. Budgetary control.
9. What are modern techniques of control?
i. Management audit
ii. Return on investment
iii. PERT& CPM
iv. MIS
10. Define Budgetary control.
According to J. Batty “A system which uses budgets as a means of planning and controlling all aspects of producing and or selling commodities and services”.
11. What are the different types of Budgets?
FUNCTIONAL BUDGET TIME CLASSIFICATION ACTIVITY LEVEL
i. Sales budget Short term budget Fixed budget
ii. Production budget Current term budget Flexible budget
iii. Purchase budget Long term budget
iv. personnel budget
v. Cash budget
vi. Research and Development budget
vii. Capital budget
viii. Master budget
ix. Profit budget
x. Cost budget
12. Define MIS.
“A system of obtaining abstracting , storing and analyzing data, to productions information for use in planning, controlling and decision making by managers at the time they can most effectively use it”.
13. What are the MIS Resources?
Computer hardware
Software
Data
People.
14. Define productivity.
Productivity is a measure of how much input is required to produce a given output i.e. the ratio(output/input ) is called productivity.
15. What are the factors consider for product design?
Marketing
Government policy
Production
Technology
Product quality
16. Define OR.
OR is a systematic analysis of a problem through scientific methods, carried out by appropriate specialists, working together as a team, finding an optimum and the most appropriate solution to meet the given objective under a given set of constraints.
17. What is Inventory control?
The inventory control refers to the control of raw materials, and purchased materials in store and regulation of investment in them.
18. What is Economic order Quantity?
Formula , EOQ = 2DS/ C
Where,
D- Demand per year
C- Annual carrying cost of one unit.
S- Ordering cost.
19. What is JIT?
Just In Time inventory system. In this method the suppliers delivers the materials to the production spot just in time to be assembled. This method reduces cost of inventory.
20. What are the objectives of value engineering?
Modify and improve product design
Reduce the product cost
Increase the profit
Simplify the product.
21. What is quality circle?
To improving productivity and quality everyone in the organization. The circles presents the solutions to the top management.
22. What are the steps in value engineering?
Blast
Create
Refine.
23. What is Gantt chart?
It involves the representation of work progress over a period of time in the form of a bar chart.
24. Define MNC.
“An enterprise which own or control production or service facilities outside the country in which they are based”.
25. What are the attitudes need by MNC manager?
Ethnocentric attitude
Polycentric attitude
Geocentric attitude
26. What are global theory of Management?
1. situational and contingency approach
2. motivation and leadership theory
3. organizational behavior.
KAZIPATTUR , CHENNAI
QUESTION BANK
MERCHANT BANKING AND FINANCIAL SERVICES/BA728
PART –A TWO MARKS QUESTION AND ANSWER
UNIT – I – HISTORICAL DEVELOPMENT
1. What is Management?
Management is the process of giving direction and controlling the various activities of the people to achieve the objectives of an organization.
2. Define Management.
According to Knootz and Weihrich “Management is the process of designing and maintaining of an environment in which individuals working together in groups, efficiently accomplish selected aims”.
3. Write some characteristics of Management.
Management is a continuous process.
Manager use the resources of the organization both physical as well as human to
Achieve goals.
Management aims act achieving the organization goals by ensuring effective use of Resources.
4. What are the roles of management in organization?
1. Management helps in determination of the objectives of an organization.
2. Economic and social development takes place through management.
5. Write any 2 points favor for management as a science.
1) Management principles should be verifiable.
2) Reliable basis through management.
6. Write any 2 points favor for management as an art.
i. Management is creative.
ii. Management includes the use of practical knowledge and personal skill.
7. Who is the father of Scientific management?
Frederick Winslow Taylor.
8. What is Time Study?
The movements which takes the minimum time is the best one.
9. What is Motion Study?
Taylor suggested that eliminating wasteful movements and performing only necessary movements.
10. Write Fayol’s 14 principles of management.
Division of work
Authority and Responsibility
Discipline
Unity of Command
Unity of direction
Individual interest to general interest
Remuneration
Centralization
Scalar chain
Order
Equity
Stability
Initiative
ESprite de crops.
11. What is Authority?
It is the power given to a person to get work from the subordinates.
12. What is Responsibility?
It is the amount of work expected of from a man by his superior.
13. Comment: Management is both- A science and an art.
Management is a science because it contains general principles. It is also an art because it requires certain personal skills to be achieve desired results.
14. What is Centralization?
The organization is centralized when the power is concentrated with one person.
15. What is Decentralization?
If the power is fully distributed to the subordinates of the organization.
16. What is Esprit – de- crops?
This means union is strength. In organization employees should be harmony and unity.
17. What are Management Levels?
Top level
Middle level
Lower level
18. Write the functions of management.
Planning
Organizing
Staffing
Coordinating
Controlling
19. What are the essential skills need for the managers?
Technical skill
Human skill
Conceptual skill.
20. Define Sole trading.
The sole proprietorship is that form of business organization which is owned and controlled by a single individual.
21. What is Partnership?
A partnership is an association of two or more persons to carry on business and to share its profit and lossess.
22. What is Joint stock company?
A private limited company is a company which has a minimum paid up capital destroyed be prescribed.
24. What is a Co-operative society?
It is a voluntary association of persons for mutual benefit and it aims accomplished through self help and collective effort.
25. What is a social responsibility?
Society is the parts of the management to interact actions wither to protect social interest a society.
UNIT –II - PLANNING
1.Define planning.
Planning is the process of selecting the objectives and the determining the course of action required to achieve these objectives.
2. What are the objectives of planning?
Planning is the primary function of an organization
It helps in achieving objectives
It is done to cope with uncertainty and change
It helps in facilitating control
It helps in coordination
It increases organizational effectiveness.
It guides in decision making.
3. List out the features of planning.
Planning –a primary function
Planning – a dynamic process
Planning – based on objectives and policies
Planning – a selective process
Pervasiveness of planning.
4. What are the different types of planning?
STANDING PLANS SINGLE USE PLANS
Mission or purpose Programmes
Objectives Budgets
Strategies Schedules
Policies Methods
Procedures projects
Rules
5.Define Mission.
Mission may be defined as “as a statement which defines the role that an organization plays in the society ”.
6. Define objectives.
The term objectives or goals are often used interchangeably. Objectives are the end results towards which the activities of firm are aimed or directed.
7.What is meant by strategy?
Strategy of an organization is the programmes of action and deployment of resources to attain its objectives.
8. What are the factors to be considered while formulating strategies?
1. Mission and objectives of an organization.
2. Values, aspirations and prejudices of top level management
3. Opportunities and threads of the external environment.
4. Strength and weakness of the firm in various aspects such as funds, organization structure, human talent, technology, etc.
9.Define policies.
Policies are general statements or understandings which provide guidance in decision making to various managers.
10. What is procedure?
Procedure is a chronological order of actions required to implement a policy and to achieve an objectives.
11. How rules can be defined?
Rules are plans in which they suggest the required course of action .
12. What is programme?
Programme is a broad term which includes goals, policies, procedure, rules, task assignment, steps to be taken, resources to be employed to carry out a given course of action.
13. Define Budgets.
A budget is a statement of expected results in numerical terms and therefore, it may be referred as a numerical programme.
14. Classify budgets.
i. Variable budgets or Flexible budgets
ii. Programme budgets
iii. Zero-base budget
15. Give the flow diagram of planning steps.
SERIAL NUMBER PLANNING STEPS
1 Identification of opportunities
2 Establishment of objectives
3 Developing planning premises
4 Identification of alternatives
5 Evaluation of alternatives
6 Selecting an alterative
7 Formulating derivative plans
8 Establishing sequence of activities
16. What is objective?
Objectives are the aims, purposes or goals that an organization wants to achieve over varying periods of time.
17. List down the guidelines for the objective setting.
1. objective should cover the main features of the job
2. objectives must be clearly specified in writing
3. The list of objectives should not be too long. Wherever it is possible, combine some objectives to make the list reasonable.
4. objectives should be verifiable.
18. Mention the different areas of an organization towards objective setting.
Market standing
Innovation
Productivity
Resources- physical and financial
Profitability
Manager performance and development
Public responsibility
Worker performance, attitude and development.
19. What are the benefits of objective setting?
i. It sets specific targets for the employee to achieve which are liked to business/ development plan.
ii. It states how the performance of the employee is to be measured to assess progress.
iii. It provides direction of the employee.
iv. It allows progress, targets, and successes to be monitored and measured by the manager.
v. It helps build working relationships between the employee and the manager and improves overall communications.
20. What is MBO?
MBO is a process where by the superior and the subordinate managers of an enterprise jointly identify its common goals, define each individual’s major areas of responsibility in terms of results expected of him, and use these measures as guides for operating the unit and the contribution of each of its members is assessed.
21. What are the benefits of MBO?
o Improvement of managing
o Clarification of organization
o Personnel satisfaction
o Team work
o Development of effective control.
22. Explain the term decision and decision making.
A decision may be a direction to other to do or not to do. Decision making is defined as the process of choosing a course of action from among alternatives to achieve a desired goal. It is one of the functions of management and also a core process of planning. The management executive takes a number of decisions every day. Thus, a decision may be rational or irrational. There are number of alternatives available to the management. The best one is selected out of the available alternatives.
23. Write down the process followed in decision – making process.
SERIAL NUMBER DECISION MAKING PROCESS- STEPS
1 Identification of problem
2 Diagnosis and analysis the problem
3 Search for alternatives
4 Evaluation of alternatives
5 Selecting an alternatives
6 Implementation and follow up
7 Feed back
24. What is planning premises?
The assumptions about future derived from forecasting and used in planning are known as planning premises.
25. How would you evaluate the importance of a decision?
Decision making is a selection process. The best alternative is selected out of many available alternatives.
Decision-making is a goal –oriented process.
Decision making is the end process.
Decision making is a human and rational process involving the application of intellectual abilities.
Decision making is a dynamic process.
UNIT-III - ORGANISING
1. Define organizing.
Organizing 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.
2. What do you understand by effective organizing?
Effective organizing focuses on finding mistakes in present organizing and avoiding such mistakes by proper planning. Effective organizing avoids organizational inflexibility and makes the staff work effectively by avoiding conflicts by clarification.
3. Mention any 4 characteristics of an organization.
Common objectives
Specialization or division of labor
Authority of structure
Group of persons.
4. State the kinds of organizational charts.
Vertical chart
Horizontal or left to right chart
Circular or concentric chart.
5. What is Span of control?
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 term because control and supervision are elements of management.
6. Mention the 3 categories of span of management.
1. Direct single relationship
2. Direct group relationship
3. Cross relationship.
7. State the important factors in determining an effective span.
SERIAL NUMBER FACTORS DETERMINING AN EFFECTIVE SPAN
1 Capacity of superior
2 Capacity of subordinate
3 Nature of work
4 Type of technology
5 Delegation of authority
8. What are the types of Departmentation?
SERIAL NUMBER TYPES OF DEPARTMENTATION
1 Departmentation by numbers
2 Departmentation by time
3 Departmentation by Enterprise function
4 Departmentation by Territory
5 Departmentation by Customers
6 Departmentation by equipment or process
7 Departmentation by product or service
9. What is a matrix structure?
Matrix structure is a hybrid organizational form, containing characteristics of both project and functional structures.
10. How can we define power?
“power is the probability that one actor within the relationship will be in a position to carry out his own despite resistance”.
11. What is Staff authority?
The relationship between a staff manager and the line manager with whom he works depends in part on the staff duties.
12. Define Staffing.
Staffing is the part of the management process which is concerned with the procurement utilization, maintenance and development of a large satisfied work force on the organization.
13. Define HRP.
“HRP is the process by which an organization ensures that it has the right number and kind of people at the right place at the right time, capable of effectively and efficiently completion, those tasks that will help the organization achieve its overall objectives”.
14. What are the steps involved in man power planning?
Forecasting man power needs
Forecasting man power inventory
Identifying man power gaps
Man power programme.
15. What is job analysis?
Job analysis is a detailed study of job to identify the skills, experience and aptitude required for the job.
16. What is job design?
The job design is usually broad enough to accommodate people’s, need and desires.
17. What is job rotation?
The job rotation refers in the movement of an employee from the job to another.
18. Define Recruitment.
B. FIPPO defined recruitment as “the process of searching for prospective employees and stimulating to apply for jobs in the organization”.
19. What is selection?
Selection is the process of finding out the most suitable candidate to the job out of the candidates attached.
20. What are the steps involved in selection process?
SERIAL NUMBER SELECTION PROCESS
1 Screening of applications
2 Selection tests
3 Preliminary interview
4 Reference check
5 Medical examination
6 Final interview
7 Approved by appropriate authority
8 Placement
21. What is performance appraisal?
Performance appraisal evaluates the performance of worker also his potential for development.
22. What is Halo effect?
It is tendency of rather to depend excessively on the rating of one. Trait or behavioral consideration in rating all other traits or behavioral considerations.
23. What is assessment centre?
In this approach individuals from various departments are brought together to spend two or three days working on an individual or group assignment similar to the ones they would be handling when promoted.
24. Define Training.
According to B.FIPPO “training is the act of increasing the knowledge and skills of an employee for doing a particular job”.
25. What are the methods of Training?
SERIAL NUMBER ON THE JOB TRAINING SERIAL NUMBER OFF THE JOB TRAINING
1 Job rotation 1 Lecture
2 Apprenticeship and coaching 2 Seminars
3 Committee assignments 3 Case studies
4 Experience 4 Business game
5 Temporary promotions 5 In basket method
26. What is basket training method?
Basket contains a number of correspondences like memo, circulars, lectures and reports. The trainees are required to solve ach problem and to record their decisions within a specified tie period. This training is promotes the skills like logical thinking, time management skill and decision making skill.
UNIT- IV - DIRECTING
1. What is meant by the term directing?
Directing may be defined as the process of instructing, guiding and inspiring human factors in the organization to achieve organization objectives. It is not only issuing orders and instruction by a superior to his subordinates but also including the process of guiding and inspiring them to work effectively.
2. List down the human factors in managing.
Multiplicity of roles
Individuality
Personal dignity
3. Define creativity.
Creativity is defined as the ability to produce new and useful ideas through the combination of know principles and components in novel and non obvious ways. Creativity exists throughout the population, largely independent of age, sex, and education.
4. What are the steps involved in creative process?
Saturation
Preparation
Frustration and incubation
Inspiration or illumination
Verification.
5. How are problems solved by creative tool?
Creativity tools are designed to help you devise, creative and imaginative solutions to problems. It helps you spot opportunities that you might otherwise miss.
6. What does SCAMPER stand for?
S - Substitute
C - Combine
A - Adapt
M - Modify
P - Put to another use
E - Eliminate
R - Reverse
7. What are the steps involved in simplex tool?
1. problem finding
2. fact finding
3. problem identification
4. idea finding
5. selection and evaluation
6. planning
7. sell data
8. Action.
8. How can be harmonizing objectives achieved?
1. Mutual trust
2. Cooperation and understanding.
3. Workers participation in management, and
4. Balancing the objectives of the organization with those of individuals.
9. Define “multiplicity of roles”.
Individuals are not only the productive factor in management’s plans. They are members of social system of many organizations.
10. What is meant by brain storming?
Brain storming is an excellent way of developing many creative solutions to a problem. It works by focusing on a problem, and then coming up with very many radical solutions to it. The essence of brainstorming is a creative conference, ideally of 8 to 12 people meeting for less than an hour to develop a long list of 50 or more ideas. Suggestions are listed without criticism on a black board or news print as they are offered.
11. Define Motivation.
Motivation is a general term applying to the entire class of drives, desires, needs wishes and similar forces that induce an individual or a group of people to work.
12. What are the steps involved in motivation process?
Analysis of situation
Preparing, selecting and applying a set of appropriate motivating tools.
Follow up.
13. What are the types of motivation?
Positive motivation
Negative motivation
Extrinsic motivation
Intrinsic motivation
14. List out the basic needs in a hierarchy.
1. Physiological needs
2. Safety needs
3. Social needs
4. Esteem needs
5. Self- actualization needs.
15. What is job enrichment?
Job enrichment is therefore based on the assumptions that in order to motivate personnel, the job itself must provide opportunities for achievement, recognition, responsibility, advancement and growth.
16. Define leadership.
Leadership is the process of influencing the behavior of others towards the accomplishment of goals in a given situation.
17. Mention the importance of leadership.
i. Motivating employees
ii. Leader develops team work
iii. Better utilization of manpower
iv. Creating confidence to followers
v. Directing group activities
vi. Building morale
vii. Maintaining discipline.
18. List out few leadership traits.
• The Michigan studies
• The ohio state university studies
• The managerial grid.
19. Name the various leadership styles.
• Autocratic or Dictatorial leadership
• Participative or Democratic leadership.
• Laissez- faire or Free- rein leadership.
20. What is communication?
Communication is the passing of information from one person to another person.
21. Mention the various elements in the process of communication?
1. sender
2. communication channels
3. symbols
4. receiver
5. noise and feedback in communication.
22. Name the various types of communication.
1. Down ward communication
2. Upward communication
3. Horizontal or lateral communication.
23. Note down the various communicating networks.
1. simple chain
2. wheel
3. circular
4. free flow
5. inverted v
24. What are the physical barriers involved in effective communication.
1. physical barriers
2. socio-psychological or personal barriers
3. organizational barriers
4. semantic barriers
5. mechanical barriers.
25. List out the various effective media in communication.
A large bank supplies hardware and software to its customers
Several banks now make bank – by – phone services available even to individuals.
E- mail service making easy delivery of documents.
UNIT-V – CONTROLLING
1. Define Control.
According to koontz “controlling to the measurement and correction of performance in order to make sure that enterprise objectives and the plans devised to attain them are accomplished”.
2. What are the characteristics of control?
Control process is universal
Control is a continuous process
Control is action based
Control is forward looking.
3. Why need of control in the organization?
Control can minimize the mistakes
To discover the deviations in the management
To minimize dishonest behavior of employees.
4. Give some critical point standards of control.
Cost standards
Revenue standards
Goals standards
Program standards.
5. What are the types of control?
Feedback control
Concurrent control
Feed forward control
6. What are the requirements for effective control?
i. The control should be economical
ii. It must be simple
iii. It should be flexible
iv. It should be clear objectives.
7. What is management by exception?
Actual performance compare with the standard performance deviations which cannot significant should be avoid.
8. What are traditional techniques of control?
i. Personal observation
ii. Break –even analysis
iii. Statistical reports
iv. Budgetary control.
9. What are modern techniques of control?
i. Management audit
ii. Return on investment
iii. PERT& CPM
iv. MIS
10. Define Budgetary control.
According to J. Batty “A system which uses budgets as a means of planning and controlling all aspects of producing and or selling commodities and services”.
11. What are the different types of Budgets?
FUNCTIONAL BUDGET TIME CLASSIFICATION ACTIVITY LEVEL
i. Sales budget Short term budget Fixed budget
ii. Production budget Current term budget Flexible budget
iii. Purchase budget Long term budget
iv. personnel budget
v. Cash budget
vi. Research and Development budget
vii. Capital budget
viii. Master budget
ix. Profit budget
x. Cost budget
12. Define MIS.
“A system of obtaining abstracting , storing and analyzing data, to productions information for use in planning, controlling and decision making by managers at the time they can most effectively use it”.
13. What are the MIS Resources?
Computer hardware
Software
Data
People.
14. Define productivity.
Productivity is a measure of how much input is required to produce a given output i.e. the ratio(output/input ) is called productivity.
15. What are the factors consider for product design?
Marketing
Government policy
Production
Technology
Product quality
16. Define OR.
OR is a systematic analysis of a problem through scientific methods, carried out by appropriate specialists, working together as a team, finding an optimum and the most appropriate solution to meet the given objective under a given set of constraints.
17. What is Inventory control?
The inventory control refers to the control of raw materials, and purchased materials in store and regulation of investment in them.
18. What is Economic order Quantity?
Formula , EOQ = 2DS/ C
Where,
D- Demand per year
C- Annual carrying cost of one unit.
S- Ordering cost.
19. What is JIT?
Just In Time inventory system. In this method the suppliers delivers the materials to the production spot just in time to be assembled. This method reduces cost of inventory.
20. What are the objectives of value engineering?
Modify and improve product design
Reduce the product cost
Increase the profit
Simplify the product.
21. What is quality circle?
To improving productivity and quality everyone in the organization. The circles presents the solutions to the top management.
22. What are the steps in value engineering?
Blast
Create
Refine.
23. What is Gantt chart?
It involves the representation of work progress over a period of time in the form of a bar chart.
24. Define MNC.
“An enterprise which own or control production or service facilities outside the country in which they are based”.
25. What are the attitudes need by MNC manager?
Ethnocentric attitude
Polycentric attitude
Geocentric attitude
26. What are global theory of Management?
1. situational and contingency approach
2. motivation and leadership theory
3. organizational behavior.
Q_BANK MBA 16 marks
ANAND INSTITUTE OF HIGHER TECHNOLOGY
KAZHIPATTUR CHENNAI – 603 103.
MERCHANT BANKING FINANCIAL SERVICES
(SIXTEEN MARKS QUESTION)
UNIT – 1
1. Define financial system. Briefly explain the functions and concepts of Indian financial system.
2. Briefly explain the concepts of financial markets.
3. Explain the Financial Guarantee markets and its types.
4. Briefly explain the ECGC. State its roles and functions of ECGC.
5. Briefly explain the DICGC. State its roles, functions and settlement of claims.
6. State the importance of Capital Market.
7. Explain the Characteristics of Financial Instruments.
8. Discuss in detail the nature and functions of Merchant Banking.
9. What do you mean by Merchant Banking? Examine the role of a merchant banker in corporate enterprises.
10. What has been the policy of the Government towards merchant banking in India? Give various categories of merchant banker as the classification made by SEBI.
11. Discuss in brief some important recent development in merchant banking establishments in India.
12. Explain the regulatory frame work of Merchant banking.
13. Write a detailed note on FEMA.
14. Explain the SEBI guidelines of Merchant Banking.
15. Describe some of the major stock exchanges in India. How OTCEI is different from other stock exchange.
UNIT – 2
16. Explain the role of merchant banker in appraisal of projects.
17. Explain the contents of prospectus and selection of Bankers.
18. Explain the role of registrars.
19. Write detailed notes on Bought – out- deals, Offer- sale, Book Building.
20. Explain the concept of NRI Marketing.
21. Write a detailed note on Green shoe option.
22. Explain the capital structure Designing.
23. What are the issues of Marketing Strategy. Explain the methods of Marketing Issue strategy.
24. Explain the concept of post – issue activities.
25. Write detailed notes on FIs, MFs, and FII.
26. Explain the concept of issue pricing.
27. Explain the concept E-IPO.
28. Explain the concept of issue of Advertising strategy.
29. Explain the guidelines of designated financial institutions.
30. Explain the pre- issue obligations of merchant bankers.
UNIT – 3
31. Write a detailed note on Merger and Acquisition.
32. What are the essential features of scheme of Merger and Acquisition?
33. Explain the financial frame work of Merger and Acquisition.
34. Explain the SEBI substantial acquisition of shares and takeover code. What do you understand by credit rating? What are the are the advantages and disadvantages of credit rating?
35. Explain the credit rating process & Methodology adopted by various credit rating agencies in India to rate various securities.
36. What are the factors affecting the rating to be assigned by the credit rating agencies?
37. Write a detailed note on the importance of credit rating and discuss its nature.
38. State and explain the symbols assigned by CRISIL.
39. Critically examine the services offered by credit rating agencies to the investors and to the companies.
40. Discuss the various functions performed by a credit rating agency.
41. Write short notes on DCR Ltd, ONICRA.
42. Define financial service industry and discuss the various services rendered by it.
43. “Financial intermediaries have to perform the task of financial innovation meet dynamically changing needs of the economy” – Discuss the above statement in the light of the various innovative products introduced in recent financial service sector.
44. Discuss briefly some of the innovative financial instruments introduced in recent times in the financial service sector.
45. Critically analyze the present position of the financial service sector in India and state the challenges it has to face in the years to come.
46. What factors have related the growth of the financial service sector during the period of pre-economic liberalization? Discuss its position during the post – economic liberalization period.
47. Define a mutual fund and describe the various schemes that can be offered by it.
48. “Mutual funds provide stability to share prices, safety to investors and resources to prospective entrepreneurs”. Discuss.
49. What rights and facilities are available to an investor of a mutual fund? What factors should be considered before selecting a mutual fund.
50. To what extent commercial banks in India are better fitted to take up the mutual fund business? What are the problems do they encounter in this direction?
51. Discuss the present state of the mutual funds in India and outline the causes for their growth.
52. “Investing securities through mutual fund in a better choice than direct investment”- Examine the statement.
53. What is the need setting up mutual funds? Have they been successful in mopping up savings?
54. What are the risks associated with mutual funds?
55. What do you mean by Roll Over facility? When it is available to an investor.
56. Explain the SEBI guidelines of Mutual funds.
57. Briefly explain the portfolio management.
58. “The changes in the economic environment since independence have brought a lot of changes in the financial services sector”. Discuss.
UNIT – 4
59. What do you understand by leasing? State its advantages and limitations.
60. Discuss the various methods of evaluating the leasing proposal.
61. Discuss the various kinds of leasing and also suggest a procedure for determining lease rentals.
62. “Leasing is beneficial to both, the lessee as well as the lessor”. Examine.
63. What do you understand by Hire purchase? Is there any difference between leasing and hire purchase?
64. Explain the features of hire purchase.
65. Explain the structure of leasing industry in India.
66. Leasing finance has provided its unique adaptability to various financial problems. Its use is being rapidly extended both to new industries as also to new applications. Discuss its merits as a source of finance.
67. Write your comments upon accounting policies and discovers in relation to finance leases and operating leases prescribed in AS – 19.
UNIT – 5
68. What is the procedure followed by banks and non- banking companies while advancing credit/finance?
69. Explain briefly the various terms and conditions imposed by banks and NBFCs while providing finance to consumers.
70. Distinguish between fixed and flat rate of calculating interest. Which one is a better option while raising finance for the construction of a house?
71. Enlist and explain various purposes for which finance is raised by consumers. Also explain the types of loans advanced for same.
72. “Declining rates of interests have made housing finance affordable”. Do you agree with the statement? Comment.
73. Examine various consumer finance practices followed in India by banks and other financial institutions.
74. Discuss the advantages and disadvantages of credit card to its members and banks.
75. Describe the facilities offered to credit card holders.
76. Explain the features of credit cards issued by various banks in India.
77. Explain the various types of credit cards.
78. Briefly explain the concept of Real Estate Financing.
79. What is factoring? Discuss its modus operandi.
80. Define factoring and state how is it superior to bill financing.
81. Discuss in detail the various services rendered by factoring intermediaries.
82. Explain the different types of factoring and their significance.
83. Critically assess the role of forfaiting as a source of financing.
84. Distinguish between factoring and forfaiting and state the scope for the introduction of such service in India.
85. What do you understand by the term Venture capital? What are the areas where venture capitalists would like to under take investments?
86. Analyze the factors which the entrepreneur should take into account while selecting the venture capitalists.
87. What are the major guidelines issued by SEBI with regard to the venture capital funds?
88. What is the role played by specialized Financial Institutions in financing venture capital projects? Discuss various VCFs promoted by these institutions.
89. Define the term venture capital. What are the types of VCs? What are the modes of financing adopted by VCs to finance the highly risky projects?
90. Make suggestions for the success of Venture capital in India.
KAZHIPATTUR CHENNAI – 603 103.
MERCHANT BANKING FINANCIAL SERVICES
(SIXTEEN MARKS QUESTION)
UNIT – 1
1. Define financial system. Briefly explain the functions and concepts of Indian financial system.
2. Briefly explain the concepts of financial markets.
3. Explain the Financial Guarantee markets and its types.
4. Briefly explain the ECGC. State its roles and functions of ECGC.
5. Briefly explain the DICGC. State its roles, functions and settlement of claims.
6. State the importance of Capital Market.
7. Explain the Characteristics of Financial Instruments.
8. Discuss in detail the nature and functions of Merchant Banking.
9. What do you mean by Merchant Banking? Examine the role of a merchant banker in corporate enterprises.
10. What has been the policy of the Government towards merchant banking in India? Give various categories of merchant banker as the classification made by SEBI.
11. Discuss in brief some important recent development in merchant banking establishments in India.
12. Explain the regulatory frame work of Merchant banking.
13. Write a detailed note on FEMA.
14. Explain the SEBI guidelines of Merchant Banking.
15. Describe some of the major stock exchanges in India. How OTCEI is different from other stock exchange.
UNIT – 2
16. Explain the role of merchant banker in appraisal of projects.
17. Explain the contents of prospectus and selection of Bankers.
18. Explain the role of registrars.
19. Write detailed notes on Bought – out- deals, Offer- sale, Book Building.
20. Explain the concept of NRI Marketing.
21. Write a detailed note on Green shoe option.
22. Explain the capital structure Designing.
23. What are the issues of Marketing Strategy. Explain the methods of Marketing Issue strategy.
24. Explain the concept of post – issue activities.
25. Write detailed notes on FIs, MFs, and FII.
26. Explain the concept of issue pricing.
27. Explain the concept E-IPO.
28. Explain the concept of issue of Advertising strategy.
29. Explain the guidelines of designated financial institutions.
30. Explain the pre- issue obligations of merchant bankers.
UNIT – 3
31. Write a detailed note on Merger and Acquisition.
32. What are the essential features of scheme of Merger and Acquisition?
33. Explain the financial frame work of Merger and Acquisition.
34. Explain the SEBI substantial acquisition of shares and takeover code. What do you understand by credit rating? What are the are the advantages and disadvantages of credit rating?
35. Explain the credit rating process & Methodology adopted by various credit rating agencies in India to rate various securities.
36. What are the factors affecting the rating to be assigned by the credit rating agencies?
37. Write a detailed note on the importance of credit rating and discuss its nature.
38. State and explain the symbols assigned by CRISIL.
39. Critically examine the services offered by credit rating agencies to the investors and to the companies.
40. Discuss the various functions performed by a credit rating agency.
41. Write short notes on DCR Ltd, ONICRA.
42. Define financial service industry and discuss the various services rendered by it.
43. “Financial intermediaries have to perform the task of financial innovation meet dynamically changing needs of the economy” – Discuss the above statement in the light of the various innovative products introduced in recent financial service sector.
44. Discuss briefly some of the innovative financial instruments introduced in recent times in the financial service sector.
45. Critically analyze the present position of the financial service sector in India and state the challenges it has to face in the years to come.
46. What factors have related the growth of the financial service sector during the period of pre-economic liberalization? Discuss its position during the post – economic liberalization period.
47. Define a mutual fund and describe the various schemes that can be offered by it.
48. “Mutual funds provide stability to share prices, safety to investors and resources to prospective entrepreneurs”. Discuss.
49. What rights and facilities are available to an investor of a mutual fund? What factors should be considered before selecting a mutual fund.
50. To what extent commercial banks in India are better fitted to take up the mutual fund business? What are the problems do they encounter in this direction?
51. Discuss the present state of the mutual funds in India and outline the causes for their growth.
52. “Investing securities through mutual fund in a better choice than direct investment”- Examine the statement.
53. What is the need setting up mutual funds? Have they been successful in mopping up savings?
54. What are the risks associated with mutual funds?
55. What do you mean by Roll Over facility? When it is available to an investor.
56. Explain the SEBI guidelines of Mutual funds.
57. Briefly explain the portfolio management.
58. “The changes in the economic environment since independence have brought a lot of changes in the financial services sector”. Discuss.
UNIT – 4
59. What do you understand by leasing? State its advantages and limitations.
60. Discuss the various methods of evaluating the leasing proposal.
61. Discuss the various kinds of leasing and also suggest a procedure for determining lease rentals.
62. “Leasing is beneficial to both, the lessee as well as the lessor”. Examine.
63. What do you understand by Hire purchase? Is there any difference between leasing and hire purchase?
64. Explain the features of hire purchase.
65. Explain the structure of leasing industry in India.
66. Leasing finance has provided its unique adaptability to various financial problems. Its use is being rapidly extended both to new industries as also to new applications. Discuss its merits as a source of finance.
67. Write your comments upon accounting policies and discovers in relation to finance leases and operating leases prescribed in AS – 19.
UNIT – 5
68. What is the procedure followed by banks and non- banking companies while advancing credit/finance?
69. Explain briefly the various terms and conditions imposed by banks and NBFCs while providing finance to consumers.
70. Distinguish between fixed and flat rate of calculating interest. Which one is a better option while raising finance for the construction of a house?
71. Enlist and explain various purposes for which finance is raised by consumers. Also explain the types of loans advanced for same.
72. “Declining rates of interests have made housing finance affordable”. Do you agree with the statement? Comment.
73. Examine various consumer finance practices followed in India by banks and other financial institutions.
74. Discuss the advantages and disadvantages of credit card to its members and banks.
75. Describe the facilities offered to credit card holders.
76. Explain the features of credit cards issued by various banks in India.
77. Explain the various types of credit cards.
78. Briefly explain the concept of Real Estate Financing.
79. What is factoring? Discuss its modus operandi.
80. Define factoring and state how is it superior to bill financing.
81. Discuss in detail the various services rendered by factoring intermediaries.
82. Explain the different types of factoring and their significance.
83. Critically assess the role of forfaiting as a source of financing.
84. Distinguish between factoring and forfaiting and state the scope for the introduction of such service in India.
85. What do you understand by the term Venture capital? What are the areas where venture capitalists would like to under take investments?
86. Analyze the factors which the entrepreneur should take into account while selecting the venture capitalists.
87. What are the major guidelines issued by SEBI with regard to the venture capital funds?
88. What is the role played by specialized Financial Institutions in financing venture capital projects? Discuss various VCFs promoted by these institutions.
89. Define the term venture capital. What are the types of VCs? What are the modes of financing adopted by VCs to finance the highly risky projects?
90. Make suggestions for the success of Venture capital in India.
QB-ank HRM MCA
ANAND INSTITUTE OF HIGHER TECHNOLOGY
KAZIPATTUR, CHENNAI
QUESTION BANK
HUMAN RESOURCES MANAGEMENT /MC 1625
PART –A TWO MARKS QUESTION AND ANSWER
UNIT – I – LEADERSHIP
1. Define Leadership.
Leadership is concerned with influencing the activities of an individual or a group for the achievement of a goal in a given situation. Some of the important definitions of leadership are given below:
“Leadership is the ability of a manager to induce subordinates to work with confidence and Zeal”. – KOONTZ and O’DONNELL.
“Leadership is the lifting of man’s visions to higher sights, the raising of man’s performance to higher standards, the building of man’s personality beyond its normal limitations”.
2. What are the factors of Leadership?
1. Follower
2. Leader
3. Communication
4. Situation
3. What are the frame work approaches of leadership models?
Leadership models help us to understand what makes leaders act the way they do. The ideal is not to lock yourself in to a type of behavior discussed in the model, but to realize that every situation calls for a different approach or behavior to be taken. Two models will be discussed, the Four Framework Approach and the Managerial Grid.
a. Structural Framework
b. Human Resource Framework
c. Political Framework
d. Symbolic Framework
4. What are the leadership qualities?
According to Brennan, six qualities separate the leaders from the followers:
1. Integrity: This is a deal breaker if you don't have it completely. When it comes to governance, Brennan said, he "never did anything or asked anyone to do anything he couldn't go home and explain to his kids."
2. A deep understanding of the business: "You can't fake it. People will know." While you don't need to know every detail, you do have to have a good grasp of the business.
3. Consistency: While keeping things fresh is important, leaders cannot change direction frequently. They will lose people's confidence.
4. Willingness to admit a mistake: Everyone makes mistakes. If you're not making any, you're not doing your job right. But Brennan emphasized the importance of admitting your missteps -- otherwise people will not respect you.
5. The ability to listen: Good leaders must be willing to handle opinions contrary to their own and absorb as much as they can.
6. Decisiveness: While you should listen to others' opinions, the final decision is yours to make. Brennan said when CEOs fail, very often it's because they are not decisive. Average tenure for a CEO has fallen from more than a decade to three years because people lose confidence in leaders whose indecision results in failure.
5. What is meant by Role theory?
People define roles for themselves and others based on social learning and reading.
People form expectations about the roles that they and others will play.
People subtly encourage others to act within the role expectations they have for them.
People will act within the roles they adopt.
6. Write short note on Country Club Leader.
This person uses predominantly reward power to maintain discipline and to encourage the team to accomplish its goals. Conversely, they are almost incapable of employing the more punitive coercive and legitimate powers. This inability results from fear that using such powers could jeopardize relationships with the other team members.
7. Write a note on value Exchange.
Exchange is a game of balance. I help you then you help me then I help you, and so on.
What we exchange is not so much distinct things as perceived value. If I have something that I do not value very highly but you do, then it is a useful thing for exchange.
Exchanges are not necessarily financial or physical in nature. Emotional exchanges, which we use a great deal of the time, can be of surprising value. When I take my daughter to a pop concert, a smile and a hug is more than adequate payment. Simple thanks are all many want for much of their hard work on behalf of others.
8. What is meant by Transformational leadership?
People will follow a person who inspires them.
A person with vision and passion can achieve great things.
The way to get things done is by injecting enthusiasm and energy.
9. Write a note on leading the charge.
The final stage is to remain up-front and central during the action. Transformational Leaders are always visible and will stand up to be counted rather than hide behind their troops. They show by their attitudes and actions how everyone else should behave. They also make continued efforts to motivate and rally their followers, constantly doing the rounds, listening, soothing and enthusing.
10. What are the characteristics of Leadership challenge?
The results of the study showed that people preferred the following characteristics, in order:
• Honest
• Forward-looking
• Competent
• Inspiring
• Intelligent
• Fair-minded
• Broad-minded
• Supportive
• Straightforward
• Dependable
• Cooperative
• Determined
• Imaginative
• Ambitious
• Courageous
• Caring
• Mature
• Loyal
• Self-controlled
• Independent
The main part of the book discusses the five actions that Kouzes and Posner identify as being key for successful leadership
11. Explain Trompenaars' four diversity cultures.
Fens Trompenaars is another Dutch ultraist who is into international culture. This is a 2x2 model which is much simpler than the more complex Trompenaars' and Hampden-Turner's cultural factors.
The four diversity cultures
This model assumes major dimensions of person vs. task and centralized (which is also assumed to be hierarchical) vs. decentralized (which is assumed to be more egalitarian). Both of these dimensions are very common measures and can often be easily determined.
Egalitarian/decentralized
Person/Informal Style
Incubator
(fulfillment- oriented)
Guided Missile
(project- oriented) Task/Formal Style
Family
(power- oriented)
Eiffel Tower
(role- oriented)
Hierarchical/centralized
12. What do you understand by participative leadership?
Effective leaders use a participative style, managing at the group level as well as individually, for example using team meetings to share ideas and involve the team in group decisions and problem-solving. By their actions, such leaders model good team-oriented behavior. The role of the manager is more facilitative than directive, guiding the conversation and helping to resolve differences. The manager, however, is responsible for results and is not absolved of responsibility. As such, they may make final decisions that take recommendations from the team into account. The effect of participative leadership is to build a cohesive team which works together rather than a set of individuals.
13. Write a note on path- goal theory of leadership.
The Path-Goal Theory of Leadership was developed to describe the way that leaders encourage and support their followers in achieving the goals they have been set by making the path that they should take clear and easy.
In particular, leaders:
• Clarify the path so subordinates know which way to go.
• Remove roadblocks that are stopping them going there.
• Increasing the rewards along the route.
Leaders can take a strong or limited approach in these. In clarifying the path, they may be directive or give vague hints. In removing roadblocks, they may scour the path or help the follower move the bigger blocks. In increasing rewards, they may give occasional encouragement or pave the way with gold.
This variation in approach will depend on the situation, including the follower's capability and motivation, as well as the difficulty of the job and other contextual factors
14. What is meant by transactional leadership?
The transactional leader works through creating clear structures whereby it is clear what is required of their subordinates, and the rewards that they get for following orders. Punishments are not always mentioned, but they are also well-understood and formal systems of discipline are usually in place. The early stage of Transactional Leadership is in negotiating the contract whereby the subordinate is given a salary and other benefits, and the company (and by implication the subordinate's manager) gets authority over the subordinate. When the Transactional Leader allocates work to a subordinate, they are considered to be fully responsible for it, whether or not they have the resources or capability to carry it out. When things go wrong, then the subordinate is considered to be personally at fault, and is punished for their failure (just as they are rewarded for succeeding). The transactional leader often uses management by exception, working on the principle that if something is operating to defined (and hence expected) performance then it does not need attention. Exceptions to expectation require praise and reward for exceeding expectation, whilst some kind of corrective action is applied for performance below expectation. Whereas Transformational Leadership has more of a 'selling' style, Transactional Leadership, once the contract is in place, takes a 'telling' style.
15. What is meant by charismatic leadership?
Charisma is seen as necessary, but not sufficient, for example in the way that charismatic movie stars may not make good leaders. Two key charismatic effects that transformational leaders achieve is to evoke strong emotions and to cause identification of the followers with the leader. This may be through stirring appeals. It may also may occur through quieter methods such as coaching and mentoring.
16. What is an exemplary follower?
Exemplary followers are ideal in almost all ways, excelling at all tasks, engaging strongly with the group and providing intelligent yet sensitive support and challenge to the leader
16. What is the difference between management and leadership?
It is a question that has been asked more than once and also answered in different ways. The biggest difference between managers and leaders is the way they motivate the people who work or follow them, and this sets the tone for most other aspects of what they do.
Many people, by the way, are both. They have management jobs, but they realize that you cannot buy hearts, especially to follow them down a difficult path, and so act as leaders too.
1. Managers have subordinates
By definition, managers have subordinates - unless their title is honorary and given as a mark of seniority, in which case the title is a misnomer and their power over others is other than formal authority.
2. Authoritarian, transactional style
Managers have a position of authority vested in them by the company, and their subordinates work for them and largely do as they are told. Management style is transactional, in that the manager tells the subordinate what to do, and the subordinate does this not because they are a blind robot, but because they have been promised a reward (at minimum their salary) for doing so.
3. Work focus
Managers are paid to get things done (they are subordinates too), often within tight constraints of time and money. They thus naturally pass on this work focus to their subordinates.
4. Seek comfort
An interesting research finding about managers is that they tend to come from stable home backgrounds and led relatively normal and comfortable lives. This leads them to be relatively risk-averse and they will seek to avoid conflict where possible. In terms of people, they generally like to run a 'happy ship'.
5. Leaders have followers
Leaders do not have subordinates - at least not when they are leading. Many organizational leaders do have subordinates, but only because they are also managers. But when they want to lead, they have to give up formal authoritarian control, because to lead is to have followers, and following is always a voluntary activity.
6. Charismatic, transformational style
Telling people what to do does not inspire them to follow you. You have to appeal to them, showing how following them will lead to their hearts' desire. They must want to follow you enough to stop what they are doing and perhaps walk into danger and situations that they would not normally consider risking.
Leaders with a stronger charisma find it easier to attract people to their cause. As a part of their persuasion they typically promise transformational benefits, such that their followers will not just receive extrinsic rewards but will somehow become better people.
7. People focus
Although many leaders have a charismatic style to some extent, this does not require a loud personality. They are always good with people, and quiet styles that give credit to others (and takes blame on themselves) are very effective at creating the loyalty that great leaders engender.
Although leaders are good with people, this does not mean they are friendly with them. In order to keep the mystique of leadership, they often retain a degree of separation and aloofness.
This does not mean that leaders do not pay attention to tasks - in fact they are often very achievement-focused. What they do realize, however, is the importance of enthusing others to work towards their vision.
8. Seek risk
In the same study that showed managers as risk-averse, leaders appeared as risk-seeking, although they are not blind thrill-seekers. When pursuing their vision, they consider it natural to encounter problems and hurdles that must be overcome along the way. They are thus comfortable with risk and will see routes that others avoid as potential opportunities for advantage and will happily break rules in order to get things done.
A surprising number of these leaders had some form of handicap in their lives which they had to overcome. Some had traumatic childhoods, some had problems such as dyslexia, others were shorter than average. This perhaps taught them the independence of mind that is needed to go out on a limb and not worry
17. What is Technical leadership?
Technical leadership Jerry states: "Leadership is the process of creating an environment in which people become empowered."
Technical leadership is something that may appear natural, but actually takes a great deal of practice and research. In order to be a leader, you need to have enough contexts about what is going on to have a vision and then convey it to others. You have to develop enough influence so that others (individual performers and formal leaders) care what you have to say. Technical leadership is more about leading a process than leading people directly. I easily spend 10-14 hours a week researching technical topics, and still feel that is grossly inadequate.
In order to be a technical leader, you need to develop a network of people who will listen to what you have to say and follow. After all a leader without followers is not a leader. Blogging may be one way to do this, but there are many others. The most effective one that works for me is just answering other folk's questions. If enough people feel they owe you, you have some influence; I guess that would be "The Godfather" school of technical leadership.
18. What is Goal Difficulty?
Increasing your employees' goal difficulty increases their challenges and enhances the amount of effort expended to achieve them. The more difficult goals lead to increased performance if they seem feasible. If they seem too high, employees will give up when they fail to achieve them.
19. What is Servant leader?
The servant leader (Greenleaf, 1977)[4] facilitates goal accomplishment by giving its team members what they need in order to be productive. This leader is an instrument employees use to reach the goal rather than an commanding voice that moves to change. This leadership style, in a manner similar to democratic leadership, tends to achieve the results in a slower time frame than other styles, although employee engagement is higher
20. What is Environment Leader?
The environment leader ( Carmazzi, 2005)[6] is the one who nurtures group or organizational environment to affect the emotional and psychological perception of an individual’s place in that group or organization. An understanding and application of group psychology and dynamics is essential for this style to be effective. The leader uses organizational culture to inspire individuals and develop leaders at all levels. This leadership style relies on creating an education matrix where groups interactively learn the fundamental psychology of group dynamics and culture from each other. The leader uses this psychology, and complementary language, to influence direction through the members of the inspired group to do what is required for the benefit of all.
21. How the vision is created?
No matter how you try to get around the issue, the fact is that people only support what they help create. A vision created by top management, will be supported primarily by top management. Unless people feel they have an influence over the creation of the organization’s vision, commitment to the vision will be difficult to achieve. One way to involve people, as mentioned in the article, is for leaders to engage employees in discussing the vision “senior leaders encourage dialogue about the vision by asking people these questions: ‘Would you like to work for an organization that has this vision? Can you see where you fit in the vision? Does it help you set priorities? Does it provide guidelines for making decisions? Is it exciting and motivating? Have we left anything out? Should we delete anything?’”
22. What is leader’s vision?
Many definitions of leadership involve an element of Goal management vision — except in cases of involuntary leadership and often in cases of traditional leadership. A vision provides direction to the influence process. A leader or group of leaders can have one or more visions of the future to aid them to move a group successfully towards this goal. A vision, for effectiveness, should allegedly:
• appear as a simple, yet vibrant, image in the mind of the leader
• describe a future state, credible and preferable to the present state
• act as a bridge between the current state and a future optimum state
• appear desirable enough to energize followers
• succeed in speaking to followers at an emotional or spiritual level (logical appeals by themselves seldom muster a following)
For leadership to occur, according to this theory, some people "leaders" must communicate the vision to others "followers" in such a way that the followers adopt the vision as their own. Leaders must not just see the vision themselves, they must have the ability to get others to see it also. Numerous techniques aid in this process, including: narratives, metaphors, symbolic actions, leading by example, incentives, and penalty penalties.
23. What is professionalism?
The term profession refers to an occupation, vocation or high-status career, usually involving prolonged academic training, formal qualifications and membership of a professional or regulatory body. Professions involve the application of specialized knowledge of a subject, field, or science to fee-paying clientele.[1] It is axiomatic that "professional activity involves systematic knowledge and proficiency."[2] Professions are usually regulated by professional bodies that may set examinations of competence, act as a licensing authority for practitioners, and enforce adherence to an ethical code of practice.
24. What are the elements of professionalism?
True professionals:
• are competent;
• know their limitations, and are willing to push these back continuously;
• are discreet and respect confidentiality;
• stick to promises and agreements;
• are loyal and honest towards clients and colleagues;
• practice what they preach;
• are strongly motivated by ethical values;
• are rational and objective, but respect their partners’ emotions;
• are creative;
• are independent, but communicate well;
• are willing to be held accountable and to explain their actions, and report unasked;
• are willing to share knowledge and skills;
• foster professionalism in others, wherever they find it.
25. What is traditional recruiting agency?
Also known as a employment agencies, recruitment agencies have historically had a physical location. A candidate visits a local branch for a short interview and an assessment before being taken onto the agency’s books. Recruitment Consultants then endeavor to match their pool of candidates to their clients' open positions. Suitable candidates are with potential employers. Remuneration for the agency's services usually takes one of two forms:
• A contingency fee paid by the company when a recommended candidate accepts a job with the client company (typically 20%-30% of the candidate’s starting salary), which usually has some form of guarantee, should the candidate fail to perform and is terminated within a set period of time.
• An advance payment that serves as a retainer, also paid by the company.
• It may still be legal for an employment agency to charge the candidate instead of the company, but in most places that practice is now illegal, due to past unfair and deceptive practices.
26. What is a Head hunter?
Headhunters are third-party recruiters often retained when normal recruitment efforts have failed. Headhunters are generally more aggressive than in-house recruiters. They may use advanced sales techniques, such as initially posing as clients to gather employee contacts, as well as visiting candidate offices. They may also purchase expensive lists of names and job titles, but more often will generate their own lists. They may prepare a candidate for the interview, help negotiate the salary, and conduct closure to the search. They are frequently members in good standing of industry trade groups and associations. Headhunters will often attend trade shows and other meetings nationally or even internationally that may be attended by potential candidates and hiring managers.
27. What is in – house recruitment?
Larger employers tend to undertake their own in-house recruitment, using their Human Resources department. In addition to coordinating with the agencies mentioned above, in-house recruiters may advertise job vacancies on their own websites, coordinate employee referral schemes, and/or focus on campus graduate recruitment. Alternatively a large employer may choose to outsource all or some of their recruitment process (Recruitment process outsourcing).
28. Explain Managing Stress.
Stress management encompasses techniques intended to equip a person with effective coping mechanisms for dealing with psychological stress, with stress defined as a person's physiological response to an internal or external stimulus that triggers the fight-or-flight response. Stress management is effective when a person utilizes strategies to cope with or alter stressful situations.
29. What is Negotiation?
Negotiation is a dialogue intended to resolve disputes, to produce an agreement upon courses of action, to bargain for individual or collective advantage, or to craft outcomes to satisfy various interests. It is the primary method of resolution. Negotiation occurs in business, non-profit organizations, and government branches, legal proceedings, among nations and in personal situations such as marriage, divorce, parenting, and everyday life. The study of the subject is called negotiation theory. Those who work in negotiation professionally are called negotiators. Professional negotiators are often specialized, such as union negotiators, leverage buyout negotiators, peace negotiators, hostage negotiators, or may work under other titles, such as diplomats, legislators or brokers.
30. What is rewarding?
In an effective organization, rewards are used well. Rewarding means recognizing employees, individually and as members of groups, for their performance and acknowledging their contributions to the agency's mission. A basic principle of effective management is that all behavior is controlled by its consequences. Those consequences can and should be both formal and informal and both positive and negative. Good performance is recognized without waiting for nominations for formal awards to be solicited. Recognition is an ongoing, natural part of day-to-day experience. A lot of the actions that reward good performance — like saying "Thank you" — don't require a specific regulatory authority. Nonetheless, awards regulations provide a broad range of forms that more formal rewards can take, such as cash, time off, and many nonmonetary items. The regulations also cover a variety of contributions that can be rewarded, from suggestions to group accomplishments.
31. What are the manager roles in professionalism?
It is interesting to note that the kind of assignments HR managers perform differ organization to organization and situation to situation. Sometimes, we find it extremely difficult to profile the job of HR manager in definite terms. This precisely the reason why HR manager is required to handle variety of functions and in the process, performing different roles. This is more a necessity than an option for those HR managers who want to complete HRM professionals. If it is so, what kind of roles HRM professionals may have to perform? American society for Training and Development provides answer to this question based on surveying the job descriptions and job profiles of a large number of HRM managers.
32. What is individual development counselor?
The role of helping an individual to assess personal competencies, values, goals and identify and plan development and career actions.
33. What is marketer?
The role of selling, training and development view points, learning packages, programmes and services to target audiences outside one’s own work unit.
34. What is Strategist?
The role of developing long range plans for what the training and development structure, organization, direction, policies, programmes, services and practices will be in order to accomplish the training and development vision.
35. What is Task analyst?
The role of identifying activities, tasks, sub-tasks, human resource, and support requirements necessary to accomplish specific results in a job or organization.
UNIT –II - MANAGING TECHNICAL AND PROFESSIONAL PEOPLE
1. What is Human capital Organization?
In addition to technical and business skills, engineers and scientists need to be positioned to manage the human capital of their organization. For this, management and leadership training is essential. This will enhance the development of the engineer and scientist who already has a strong education. A comprehensive leadership training portfolio would include team building, the understanding of group dynamics, negotiation, conflict management, motivation, the constructive use of feedback, and performance evaluation. Effective communication coupled with self awareness will allow the individual to be a productive team member and also learn the skills necessary to become the leader of a winning team. And effective team leadership can only open doors for engineers and scientists as their careers progress.
2. What is Team Building?
Team working is the right strategy to execute these interdependent tasks. Team, though as old as any other HRM practice, the mixed results it delivered has become a potential deterrent for its widespread adoption in the organizational working and many managers are overcautious with the implementation of team structures. However, experiences and research studies have consistently high – lighted that teams failed to deliver results wherever they are dealt wrongly, especially in their formation and development stage. Therefore, understanding these difficulties and mastering their solutions should be primary responsibility of all HR professionals.
3. What is Group Dynamics?
Group dynamics refers to the interaction of forces between group members in a social situation. However, the term group dynamics is defined in different ways. One view is that group dynamics describes how a group should be organized and operated. This includes democratic leadership, participation, and cooperation. Another view takes group dynamics as a set of techniques such as role playing, brainstorming, leaderless group, group therapy, sensitivity training, etc. According to the third view, group dynamics is viewed from the internal nature of groups, their formation, structure and processes, and the way they affect individual members, other groups, and the organization.
4. What is conflict management?
The management within an organization should function in such a way so as to maximize the coordination of human resources and work system and to minimize conflict.
5. What is Performance Evaluation?
Performance evaluation is a necessary and beneficial process, which provides annual feedback to staff members about job effectiveness and career guidance. The performance review is intended to be a fair and balanced assessment of an employee's performance.
6. Write short note on Halo Effect.
The "Halo" effect occurs when one factor influences ratings on all factors. Examples: An employee's work is of good quality, therefore, other ratings (such as those on promptness or work quantity) are higher than normal. Another employee is frequently absent, with the result that the ratings on other factors are usually low.
7. Write short note on cluster tendency.
The tendency to consider everyone in the work group as above average, average, or below average. Some raters are considered "tough" because they normally "cluster" their people at a low level. Others are too lenient. "Clustering" overall ratings usually indicates that the rater has not sufficiently discriminated between high and low levels of performance
8. Write a note on Personality Conflicts.
Avoid judgments made purely on the basis of personality traits. Effective, efficient employees do not necessarily agree with everything a supervisor believes in or states.
9. What is Goal of Scientists?
Contribution is new and original knowledge.
Reward is social approval from of professional recognition.
A well- developed communication systems based on un restricted access in imperative to recognition and claim of discovery.
Since recognition and priority of discovery are critical, strong norms against any restriction to free and open communication exists in the social system of science.
Special rewards that are not part of the social system of science in return for scientific contribution is not considered proper with the social system of science.
Exchange networks commonly referred to as “invisible colleges” exist in the social system of science in networks the commodities and recognition.
10. What is goal of Engineers?
According to Blade, the goals are engineers are as follows:
Contribution is (technical) knowledge used to produce end- items or products.
New and original knowledge is not a requirement.
Reward is not a monetary or materialistic and serves as an inducement to make further contribution to technical knowledge
Seeking rewards that are not part of the social systems of technology is quite proper and also encouraged.
The value of technical knowledge lies in its value as a commodity of indirect exchange.
Exchange of networks found in the social system of technology based on end-item products, not knowledge.
Strong norms against free exchange or open access to knowledge with others outside of the organization exist in the social system technology.
11. What do you understand by work assignment?
The Work Assignment is the central concept that relates employees to the structures in which they work, and the compensation and benefits for which they are eligible.
Many of the activities you undertake in human resource management, such as vacancy management and budget planning, are based around assignments and not people. In particular, you enter many benefit–related elements for the employee assignment, rather than the employee.
12. What is employee number?
The Employee Number uniquely identifies every employee in your
Business Group. An employee can have only one Employee Number. You decide how
This number is to be generated when you define your Business Group:
Automatic
Manual
National Identifier
National Identifier, such as US Social Security number
13. Write a note on worker participation.
Worker participation has a long history in Western Europe, where it tends to go far beyond matters such as pay and working conditions. The aim is to create a system by which workers can participate directly in the management of the enterprise. Works councils and codetermination are two examples.
14. What is Expatriate Work Assignments?
An expatriate is a person who works and lives abroad for extended periods of time. The cost of an expatriate worker can be very high for the employer. Progressive employers will maximize the potential expatriate performance success by taking a variety of supportive actions. They are carefully recruit employees who have the right sensitivity and skills, provide them with good training and orientation to the foreign culture, actively support them, give extra attention to the needs of the expatriate’s family members and pay careful attention to relocation when the expatriate and family return home.
Expatriate usually face their greatest problems when entering and working in a foreign culture, and when experiencing repatriation back home. The expatriate undergoes three phases of adjustment to the new country.
15. What is Expatriate Failure?
Expatriate failure occurs when an expatriate is forced to return to his or her home organization before the expected duration of the foreign assignment is completed. Selecting suitable managers is the logical first steps but that alone does not ensure success. There are number of reasons besides poor selection that contribute to expatriate failure. The major causes of expatriate failure are given below:
1. Selection based on headquarters criteria rather than assignment needs.
2. Inadequate preparation, training, and orientation prior to assignment.
3. Alienation or lack of support from headquarters.
4. Inability to adapt to local culture and working environment.
5. Problems with spouse and children – poor adaptation, family unhappiness.
6. In sufficient compensation and financial support.
7. Poor programmes for career support and reputation.
16. What is Need for influence?
The overarching goal of human resource development interventions is to provide activities and other mechanisms that assist employees and organizations in attaining their goals. HRD professionals can help employees meet their personal goals by providing programs and interventions that promote individual development, for example, career development activities, mentoring, and formal training and educational opportunities. Concerning organizational goals, the ultimate objective of most, if not all, HRD programs are to improve organizational Performance. HRD efforts are not the only contributors to organizational performance however; they are increasingly recognized as a critical component of organizational success. Further, a major focus of most HRD interventions is an effort to change employee behavior. That is, the hope is that providing employees with the skills and behaviors they need to perform successfully should lead to the greatest accomplishment of both employee and organizational goals. Thus, the field of HRD has had (and continues to have) a strong focus on employee behavior. In order to change any behavior, we must first understand the factors that cause employees to behave the way that they do. Armed with this knowledge, we can more accurately diagnose performance problems, understand what makes effective Performance possible, and design HRD programs to create the behavior to want.
17. What is Motivation?
Motivation is the reason or reasons for engaging in a particular behavior, especially human behavior as studied in psychology and neuropsychological. These reasons may include basic needs such as food or a desired object, hobbies, goal, state of being, or ideal. The motivation for a behavior may also be attributed to less-apparent reasons such as altruism or morality. According to Gene,[1] motivation refers to the initiation, direction, intensity and persistence of human behavior.
18. What is creativity?
Self-actualizing people are highly imaginative and creative. The creativity involved here is not special-talent creativity. It is a creativity potentially inherent in everyone but usually suffocated by acculturation. It is a fresh, naive, direct way of looking at things, rather similar to the naive and universal creativity of unspoiled children
19. What is meant by group dynamics?
Group dynamics is the study of groups, and also a general term for group processes. Relevant to the fields of psychology, sociology, and communication studies, a group is two or more individuals who are connected to each other by social relationships.[1] Because they interact and influence each other, groups develop a number of dynamic processes that separate them from a random collection of individuals. These processes include norms, roles, relations, development, need to belong, social influence, and effects on behavior. The field of group dynamics is primarily concerned with small group behavior. Groups may be classified as aggregate, primary, secondary and category groups.
20. Write a note on Naive persona.
The Naive person has a large Blind Self that others can see. They thus may make significant social gaffes and not even realize what they have done or how others see them. They hide little about themselves and are typically considered as harmless by others, who either treat them in kind, and perhaps patronizing ways (that go unnoticed) or take unkind advantage of their naivety.
What you see in me What you do not see in me
What I see in me The Public Self The Private Self
What I do not see in me The Blind Self The Undiscovered Self
The Naive Persona may also be something of a bull in a china shop, for example using aggression without realizing the damage that it does, and can thus be disliked or feared. They may also wear their heart on their sleeves and lack the emotional intelligence to see how others see them.
21. What is meant by Performance management?
Performance management is the process of assessing progress toward achieving predetermined goals. Performance management is building on that process, adding the relevant communication and action on the progress achieved against these predetermined goals.
22. What is peer ranking?
In the peer ranking approach, the manager is typically asked to assess the overall performance of an employee by ranking them in relation to other employees. Some attempted to deal with the inherent subjectivity of this method by using a forced-ranking method, which meant distributing ratings so they conformed to a normal distribution curve. But as T. Peters (1987) points out, this means creating a statistical imperative to evaluate a pre-determined portion of employees as losers.
23. What is professional career?
A career is the series of work- related positions a person occupies throughout life. People pursue careers to satisfy deeply individual needs. At one time, identifying with one employer seemed to fulfill many of those needs. Now, the distinction between the way individuals and organizations view careers is significantly differently
24. How People Choose Careers?
Four general individual characteristics affect how people make career choices:
Interest
Self- image
Personality
Social back grounds
25. What is mind mapping?
Devised and developed by Tony Bussan, Mind Mapping is a technique used to capture ideas from a brainstorming exercise in an organized and structure.
26. What is Time Management?
Setting aside time on a routine basis to review and update your development plan and records is essential if you are serious about your professional development. Whether you do this daily, weekly, monthly or annually, schedule time in your diary when you can focus on your development needs. Keeping your records up-to-date is much easier when things are fresh in your mind. Making time to jot something down, even if it’s just in note form, will make your records more accurate and meaningful, and will save time in the long run. If you have a mentor you will also need to arrange regular discussions to review and plan your progress. It will help you both if you agree what the frequency of these discussions should be and allow yourself some preparation time so that you can get the most out of the meeting.
27. What is SWOT Analysis?
We are often required to undertake a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of a project or other aspect of our work. We can apply the same technique to assessing the possibilities for our own careers. Understanding what our strengths and weaknesses are will help us to know where we are most likely to be successful and in what areas we will need to work harder to achieve. Likewise, knowing what opportunities are likely to arise will help us ensure that we are ready to take advantage of them; and being aware of possible threats gives us the chance to take action to minimize any negative consequences. You might like to ask for help in doing this analysis. Your Human Resources department may be able to arrange for you to undertake some psychometric tests to pinpoint your strengths and weaknesses. Talking to your manager or mentor may help you identify possible opportunities and threats.
28. What is Mentoring?
Planned professional development is essential for all practicing professionals. The responsibility for development must always lie with the individual, but the active support of a wise colleague, in the role of a mentor, can be extremely helpful at particular times, for example in the early stages of a career or in times of change. A mentor can help you to assess your needs and establish a development plan. Regular review meetings can then be arranged to consider progress and review learning. Knowing you have a forthcoming meeting helps you to focus on achieving targets! Your mentor will also give you the opportunity to try out, in confidence, a range of ideas and methods of working before having to make final decisions on the way ahead.
29. Write a note on Genetic endowment and special abilities.
Some biological inherited factors as e.g. race, gender, ad physical appearance can be restrictive on career development. Other factors at least partially influenced by inheritance, including special abilities as e.g. musical and artistic ability, and physical co-ordination, may also set limits
30. What are the company mentoring schemes?
Mentors can operate independently in all types and sizes of organization, but company schemes are found to be more effective if they:
• have the support of top management
• use carefully selected volunteers, who are well-matched to the employees being mentored
• start within a limited pilot mentoring programme, which can be extended as it becomes established
• operate as part of a wider scheme, which is unobtrusively monitored
• are supported by an able co-coordinator, usually a manager or Human Resources professional, who maintains the programme and ensures that its standard (and thus its reputation) remains high
• Take care to distinguish between the roles of line managers and mentors, to avoid conflicts between concern for task completion and the mentee's training and development needs.
UNIT-III-IDENTIFICATION AND DEVELOPMENT OF TALENTED PEOPLE
1. What is Talent management?
Talent management is a process that emerged in the 1990s and continues to be adopted, as more companies come to realize that their employees’ talents and skills drive their business success. These companies develop plans and processes to track and manage their employee talent, including the following:
• Attracting and recruiting qualified candidates with competitive backgrounds
• Managing and defining competitive salaries
• Training and development opportunities
• Performance management processes
• Retention programs
• Promotion and transitioning
2. Define Talent management.
“The recruitment, selection, identification, retention, management, and development of personnel considered to have the potential for high performance. Talent management is a model of personnel management. It focuses on the skills and abilities of the individual and on his or her potential for promotion to senior management roles. It also assesses how much of a contribution the individual can make to the success of the organization
3. State the importance of talent management.
Talent management (TM) brings together a number of important human resources (HR) and management initiatives.
Organizations that formally decide to "manage their talent" undertake a strategic analysis of their current HR processes. This is to ensure that a co-coordinated, performance oriented approach is adopted.
Quite often, organizations adopting a TM approach will focus on co-coordinating and integrating:
• Recruitment - ensuring the right people are attracted to the organization.
• Retention - developing and implementing practices that reward and support employees.
4. State any 2 principles of talent management.
Talent management strategies are required to understand not only what talent is needed to achieve business goals, but how to recruit, retain and develop that talent. Four major principles for talent management have been identified by Duttagupta:
Build a winning environment that people want to belong to — create opportunities to excel by using strengths, personal and professional challenges, constant new projects to work on, teams and leaders who provide a rich mix of strengths and lifestyle considerations.
Establish a talent management mindset, which enables ownership and accountability for optimizing talent and potential — coaching, mentoring, empowerment and sponsorship.
Create tangible means to identify, select and deploy people of outstanding talent — identify the talent needed and how to source it and use it for optimal effect.
5. How does an organization effectively manage Talent?
1. Recognize Talent
2. Attracting Talent
3. Selecting Talent
4. Retaining Talent
6. What is meant by Teaching & Coaching?
This means having people in the organization - both managers and specialists - whose role it is to help others to grow, learn and realize their potential. Many organizations have de-emphasized this key task as pressure to meet quarterly performance targets have cascaded down to every level of the organization.
Schools provide an inspiration and model from which other organizations can learn. They have teachers whose only job is to develop their student's skills and learning. While few organizations are positioned to employ full-time teachers, many should encourage and help managers and staff to take on this role. They can do this by explicitly acknowledging the value of teaching and coaching and including these responsibilities in the expectations and measures of performance set for managers and staff.
7. What is a Horizontal growth path?
Flattening of hierarchies in recent years has severely curtailed growth paths in many organizations. But growth shouldn't just be up the ladder or depend purely on acquiring managerial skills. Another productive growth path is horizontal and progressive organizations have created lateral paths that allow people to broaden their skills and knowledge within their disciplines and jobs.
8. What is compensation management?
Success Factors Compensation Management helps you boost the performance of your employees via compensation rewards, creating a more engaged workforce that’s willing to go the extra mile for your organization. Plus you’ll enjoy clearer visibility into individual employee performance when it comes time to make those all-important compensation planning decisions.
• Create a True Pay-for-Performance Culture. Provide a clear linkage for employees between their compensation and your performance expectations.
• Improve Retention. Recognize employees for a job well done using variable pay and other proven methods. So your top performers stay happy—and more likely to stay with your company.
• Optimize Budgets. Run “what-if” scenarios and instantly see how increasing merit pay to your best employees would impact your budget.
• Save on Salaries. Save your business thousands of dollars every year by making sure you’re not unfairly compensating those employees who fall short in their efforts to help your company achieve its key objectives.
9. What is Talent planning?
Success Factors Talent Planning helps retain and develop talent at every level of your company [Hilton Hotels Success Story]. This robust planning application lets you easily map every staffing move - across teams, departments or divisions. Plus you can construct and create new department hiring plans, while providing employees with greater visibility into the future of their careers.
• Build bench strength. Gain visibility to your existing talent pools - and potential gaps - so you can proactively train and groom employees for key positions.
• Better assess your talent. Formulate valuable insights about your workforce by gathering information on their backgrounds, expertise, performance, career aspirations, and more.
• Uncover "hidden" talent. Greatly expand your internal talent search efforts beyond your immediate sphere.
• Find the best candidate, every time. Speed the process of finding just the right employees to fill your leadership gaps
10. What are the characteristics of talent management?
1. Focused on client need
2. Cause-conscious, not solution-focused
3. Systemic thinkers
4. Appropriately involve others
5. Organized, rigorous and prudent
6. Sensitive to the need for verifying perceptions
7. Sort out and maintain a firm hand on priorities
8. Diplomatic and credible
9. Generous in giving credit to others
10. Principled, yet flexible
11. What is Succession planning?
In organizational development, succession planning is the process of identifying and preparing suitable employees through mentoring, training and job rotation, to replace key players — such as the chief executive officer (CEO) — within an organization as their terms expire. From the risk management aspect, provisions are made in case no suitable internal candidates are available to replace the loss of any key person. It is usual for an organization to insure the key person so that funds are available if she or he dies and these funds can be used by the business to cope with the problems before a suitable replacement is found or developed. Succession Planning involves having senior executives periodically review their top executives and those in the next lower level to determine several backups for each senior position. This is important because it often takes years of grooming to develop effective senior managers. There is a critical shortage in companies of middle and top leaders for the next five years Organizations will need to create pools of candidates with high leadership potential.
12. What are Flexible timings?
Organizations provide for flexible timings to the employees who cannot come to work during normal shifts due to their personal problems and valid reasons.
13. What is strategic compensation?
Strategic compensation is determining and providing the compensation packages to the employees that are aligned with the business goals and objectives. In today’s competitive scenario organizations have to take special measures regarding compensation of the employees so that the organizations retain the valuable employees. The compensation systems have changed from traditional ones to strategic compensation systems.
14. What is Employee Retention?
Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee.
15. What is e- HRM?
E – HR system is a web based solution that takes advantage of the latest web application technology to deliver an online real- time human resource solution. It is comprehensive but easy to use, feature- rich yet flexible enough to be tailored to your specific needs.
16. What is talent Development?
Talent Development, part of human resource development, is the process of changing an organization, its employees, its stakeholders, and groups of people within it, using planned and unplanned learning, in order to achieve and maintain a competitive advantage for the organization. Roth well notes that the name may well be a term in search of a meaning, like so much in management, and suggests that it be thought of as selective attention paid to the top 10% of employees, either by potential or performance.
17. Define Talent management.
The term "Talent Development" is becoming increasingly popular in several organizations, as companies are now moving from the traditional term "Training and Development". Talent Development encompasses a variety of components such as training, career development, career management, and organizational development, and training and development. As we proceed through the 21st century more companies will begin to use more integrated terms such as "Talent Development
18. State the objectives of talent management.
The talent development programmes are organized with a view to achieving specific objectives. They are:
To overhaul the management machinery.
To improve the performance of managers.
To give the specialists on overall view of the functions of an organization and equip them to co- ordinate each others efforts effectively.
To identify persons with the required potential and prepare them for senior positions.
To increase morale of the members of the management group.
To increase versatility of the management group.
To keep the executives abreast with the changes and developments in their respective fields.
19. What are the factors affecting talent development?
The factors affecting TD are seen in these definitions. They are briefly analyzed in the following factors:
(1) Manpower Development
(2) Career Planning
(3) Organizational Structure
(4) Organizational Climate
(5) Development of Individuals
(6) Employee Counseling
(7) Recruitment and Selection
20. State the scope of talent Development.
1. Recruiting the employees within the dimensions and possibilities for developing human resource.
2. Selecting those employees having potentialities for development to meet the present and future organizational needs.
3. Train all the employees in acquiring new technical skills and knowledge.
4. Develop the employees in managerial grid and behavioral skills and knowledge.
21. State the principles of Talent Development.
The management should assess the development needs of its mangers at different levels through performance analysis and development methods.
Management should decentralize the responsibility of developing the managers of different departments/ units and make the head of the department unit responsible for it.
Management should integrate career planning and development of the organization with the management development programmes.
22. What are the methods of talent development?
The various methods that come under Cognitive approach are:
LECTURES
DEMONSTRATIONS
DISCUSSIONS
COMPUTER BASED TRAINING (CBT)
INTELLEGENT TUTORIAL SYSTEM (ITS)
PROGRAMMED INSTRUCTION (PI)
VIRTUAL REALITY
23. What is meant by Discussion training method?
This method uses a lecturer to provide the learners with context that is supported, elaborated, explains, or expanded on through interactions both among the trainees and between the trainer and the trainees. The interaction and the communication between these two make it much more effective and powerful than the lecture method. If the Discussion method is used with proper sequence i.e. lectures, followed by discussion and questioning, can achieve higher level knowledge objectives, such as problem solving and principle learning.
The Discussion method consists a two-way flow of communication i.e. knowledge in the form of lecture is communicated to trainees, and then understanding is conveyed back by trainees to trainer.
24. What is Equipment Stimulators?
Equipment simulators are the mechanical devices that necessitate trainees to use some actions, plans, measures, trials, movements, or decision processes they would use with equipment back on the their respective work place
25. What is meant by Role play training method?
Role play is a simulation in which each participant is given a role to play. Trainees are given with some information related to description of the role, concerns, objectives, responsibilities, emotions, etc. Then, a general description of the situation, and the problem that each one of them faces, is given. For instance, situation could be strike in factory, managing conflict, two parties in conflict, scheduling vacation days, etc. Once the participants read their role descriptions, they act out their roles by interacting with one another.
26. What is Transactional Analysis?
Transactional Analysis provides trainees with a realistic and useful method for analyzing and understanding the behavior of others. In every social interaction, there is a motivation provided by one person and a reaction to that motivation given by another person. This motivation-reaction relationship between two persons is a transaction. Transactional analysis can be done by the ego states of an individual.
27. State the principles of Talent Development.
The top management of a company should follow certain principles to make the talent development programmes effective. They are:
The management should assess the development needs of its managers at different levels through performance analysis and development methods.
Management should decentralize the responsibility of developing the mangers of different departments/ units and make the head of the department unit responsible for it.
Management should integrate career planning and development of the organization with the management development programmes.
Every manager of the organization should be motivated and empowered to take up developmental programmes.
Talent development programme is a continuous process.
Management should encourage the manager to take up programmes on their own in addition to the company sponsored programmes.
Management should make use of the management development programmes organized by outside agencies like IIMs, XLRI etc.
28. What is meant by Counselling?
According to B.J. prasantham, “counselling is a relationship between the counselor and the counselee characterized by trust and openness, in a one to one, or a small group relationship, whereby the counselee is helped to work through his interpersonal and\ or intra-personal problems and crisis. He is also helped to mobilize his inner and outer resources and to find new options in facing life.”
29. What are the causes of counselling?
1. Conflict
2. Stress
30. What is stress?
Stress is a condition of strain that has a direct bearing on emotions, through processes and physical conditions of a person. When it is excessive, it can threaten one’s ability to cope with the environment. People who are stressed may become nervous and develop chronic worry. They are easily provoked to anger and are unable to relax. Stress also leads to physical disorders, because the internal body system changes to try to cope with stress. The causes of stress can be classified under two heads:
On – the – job stress.
Off – the – job stress
31. What is Pet therapy?
Bringing pets into your life can be rejuvenating. This has been proved by many recent experiments. Company of pets other than humans can have a therapeutic effect on us, especially when we are in the grip of stress.
As human-to-human interactions are often complex and unpredictable, we may not feel relaxed and comfortable in the company of our own species. But, with pets as company, we can be ourselves and enjoy unconditional acceptance from our companions. A pet can be anything from a cat to a fish, or a bird to a tortoise. People are known to keep unusual varieties such as snakes as pets. It is obvious that the selection of pets should be compatible to one's temperament, availability of space at home and lifestyle.
The company of a pet has amazing capability to transport you from the grindings of day-to-day life to a more relaxing and fulfilling existence.
32. What is Diet management?
When the body is in a 'fight or flight' mode the digestive system shuts off temporarily and our appetite is suppressed. The release of adrenaline and cortical help mobilize carbohydrate and fat for quick energy. When that situation is over, the cortical lingers there increasing our appetites in an effort to replace the used up carbohydrate and fat. If the body doesn't react in that survival instinct the lingering hormones tend to create an artificial craving for food. Resulting in overeating and eating the wrong kind of food.
A well-nourished and fit body can be more resilient to stressful conditions. Many illnesses induce stress and stress too induces eating disorders, addiction to alcohol and substance abuses. Hence, a planned and nutritious diet can act as an effective stress-fighting tool. Natural, unprocessed foods and herbal concoctions are proved to be helpful to many stress induced disorders such as disturbed bowel syndrome, digestive malfunction, nerve perturbation and other disease conditions. Again a healthy and disciplined diet habit can help an individual in stress conditions as well as prevent him from falling victim to abusive food habits.
33. What is Transcendental Meditation?
The Transcendental Meditation technique made popular during the 1970s by Maharishi Mahesh Yogi was aimed at ushering in perfect health and happiness. The technique is specifically designed to relieve man of his modern day trappings and the resultant mind-body disorders by helping him to access the boundless cosmic energy field.
The words of Maharishi aptly describe TM: "Transcendental Meditation opens the awareness to the infinite reservoir of energy, creativity, and intelligence that lies deep within everyone."
TM is a simple, natural and effortless procedure practiced for 15-20 minutes in the morning and evening, while sitting comfortably with the eyes closed. During the course of the meditation, the fluctuating mind gradually becomes still and the individual experience a unique state of 'restful alertness'. The body becomes deeply relaxed; the mind transcends all mental activity to experience the simplest, purest and highest form of Consciousness.
Numerous researches on TM in institutes and universities all over the worlds have shown that its practice benefits all areas of an individual's life. The researches claim TM develops the individual's latent creative potential while dissolving accumulated stress and fatigue through the deep rest experienced during practice. This experience enlivens the individual's creativity, dynamism, orderliness, and organizing power, which result in increasing success in daily life.
34. What are the different types of counselling?
There are three forms or types of counseling. They are:
1. Directive Counselling
2. Non – Directive Counselling
3. Participative Counselling or Co-operative Counselling
35. What is Behavioral therapy?
This approach addresses the unusual thoughts, feelings and behavior directly by issuing the sufferer with rewards and by confronting the factors that influence these recurrent thoughts. This therapy does not ignore the past like some other approaches, but does concentrate on the present events which are in control of the sufferer’s behavior
36. What is Humanistic therapy?
Humanistic Counselling became known over 50 years ago and has become an extremely effective approach to counselling. Although behavioral therapy and psychoanalytic methods were available, a Humanistic approach offered sufferers another alternative. This type of counselling focuses on recognizing human capabilities in areas such as creativity, personal growth and choice.
37. State any 2 draw backs of counselling?
Counselling may help an employee for better adjustment with his superior but it does not improve the working environment.
Counselling attempts to change individual attitudes and behavior, this does not last in the long run.
UNIT-IV - INNOVATION
1. What is innovation?
The term innovation may refer to both radical and incremental changes in thinking, in things, in processes or in services (McKeon, 2008). Invention that gets out in to the world is innovation. In many fields, something new must be substantially different to be innovative, not an insignificant change, e.g., in the arts, economics, business and government policy. In economics the change must increase value, customer value, or producer value. The goal of innovation is positive change, to make someone or something better. Innovation leading to increased productivity is the fundamental source of increasing wealth in an economy.
2. Define the term innovation.
"All innovation begins with creative ideas we define innovation as the successful implementation of creative ideas within an organization. In this view, creativity by individuals and teams is a starting point for innovation; the first is necessary but not sufficient condition for the second
3. State the economic Concepts of innovation.
Joseph Schumpeter defined economic innovation in The Theory of Economic Development, 1934, Harvard University Press, Boston.[2]
1. The introduction of a new good — that is one with which consumers are not yet familiar — or of a new quality of a good.
2. The introduction of a new method of production, which need by no means be founded upon a discovery scientifically new, and can also exist in a new way of handling a commodity commercially.
4. What are the sources of Innovation?
There are several sources of innovation. In the linear model the traditionally recognized source is manufacturer innovation. This is where an agent (person or business) innovates in order to sell the innovation. Another source of innovation, only now becoming widely recognized, is end-user innovation. This is where an agent (person or company) develops an innovation for their own (personal or in-house) use because existing products do not meet their needs. Eric von Hippel has identified end-user innovation as, by far, the most important and critical in his classic book on the subject, Sources of Innovation.[6]
2. Innovation by businesses is achieved in many ways, with much attention now given to formal research and development for "breakthrough innovations." But innovations may be developed by less formal on-the-job modifications of practice, through exchange and combination of professional experience and by many other routes. The more radical and revolutionary innovations tend to emerge from R&D, while more incremental innovations may emerge from practice – but there are many exceptions to each of these trends.
3. Regarding user innovation, rarely user innovators may become entrepreneurs, selling their product, or more often they may choose to trade their innovation in exchange for other innovations. Nowadays, they may also choose to freely reveal their innovations, using methods like open source. In such networks of innovation the creativity of the users or communities of users can further develop technologies and their use.
5. What are the processes of new product Development?
Idea Generation
Idea Screening
Concept Development and Testing
Business Analysis
6. State the Diffusion theory of innovation.
Once innovation occurs, innovations may be spread from the innovator to other individuals and groups. This process has been studied extensively in the scholarly literature from a variety of viewpoints, most notably in Everett Rogers' classic book, The Diffusion of Innovations. However, this 'linear model' of innovation has been substantially challenged by scholars in the last 20 years, and much research has shown that the simple invention-innovation-diffusion model does not do justice to the multilevel, non-linear processes that firms, entrepreneurs and users participate in to create successful and sustainable innovations.
7. What are the different types of Innovation?
Innovation used to be a linear trajectory from new knowledge to new product. Now innovation is neither singular nor linear, but systemic. It arises from complex interactions between many individuals, organizations and their operating environment. Firms which are successful in realizing the full returns from their technologies and innovations are able to match their technological developments with complementary expertise in other areas of their business, such as manufacturing, distribution, human resources, marketing, and customer service.
Innovation is not divisible – ‘good in parts’ is no good at all. Innovation systems are only as strong as their weakest links. "You can't do carpentry if you only have a saw, or only a hammer or you never heard of a pair of pliers. It's when you put all those tools into one kit that you invent," advised Peter Ducke
8. What is Radical Innovation?
Radical Innovations are the situations where a totally new technology comes along and displaces the incumbent technology. Examples are transistor replacing the vacuum tube, compact disc replacing long playing records. These changes are discontinuous, not continuous, and frequently cause significant disruption involving changes in industry leadership.
9. State the objectives of innovation?
One survey across a large number of manufacturing and services organizations found, ranked in decreasing order of popularity that systematic programs of organizational innovation are most frequently driven by:
1. Improved quality
2. Creation of new markets
3. Extension of the product range
4. Reduced labor costs
5. Improved production processes
6. Reduced materials
7. Reduced environmental damage
8. Replacement of products/services
9. Reduced energy consumption
10. Conformance to regulations
These goals vary between improvements to products, processes and services and dispel a popular myth that innovation deals mainly with new product development. Most of the goals could apply to any organization be it a manufacturing facility, marketing firm, hospital or local government.
10. What is value modeling?
The principle of value modeling is illustrated in Figure 2. If the team had an understanding of the relative value of a set of tangible, measurable characteristics of the product or process, and could take a proposed concept and place a gauge against it to measure its score on each characteristic, they would have a good idea of its value. They could readily determine the value of each of its characteristics and thus its total value.
11. What is risk analysis?
As shown in Figure 13, an initial development plan is formulated and the resulting risk portfolio is considered, along with the change in that risk portfolio that would result, if the plan were executed.
Risk involves three additional factors: "time criticality" (when the uncertainty is reduced), dependencies between uncertainties, and severity of adopting fallback plans. Time criticality is a factor affecting uncertainty. It is the mean time, during the span of the relevant portion of the development program, at which the uncertainty is actually reduced. Clearly, if test results show, during the last day of the program, that the fallback plan must be adopted, then there is no choice -- time and budget are both exhausted. However, if test results yield the same result during the first days of the program, there are many options -- people are creative and there is plenty of time and budget to find viable alternatives. The later uncertainty is reduced, the higher the effective uncertainty and, consequently, the risk of failure. Time criticality is a multiplying factor that rises exponentially in time to penalize the late resolution of uncertainty.
12. What is culture clash?
Many problems in creative businesses arise from perceived differences between the 'creative' and the 'suits'. When there is a perceived conflict between creative and commercial interests, the danger is that both sides will defend their positions rather than working out how to work together effectively. This leads to frustration on all sides, and is potentially disastrous for projects. If this process continues unchecked, you risk ending up with creative who spend less of their creative talent on your projects than on daydreaming about moves elsewhere
13. What is fantasy scale?
Working with the fantasy scale students have to give score from 1 to 4 according to the following points:
1. Newness (novelty ) of the idea;
2. Convincing presentation of the idea;
3. The additional knowledge about human nature and human society ;
4. Literature (arts) value;
5. Personal evaluation (depends on how much a specific student liked or disliked this thing)
14. What is meant by Snow ball method?
This method is aimed for development of any fantastic idea. The fantastic idea always is connected with a system changing. This system is connected with other systems. Thus they also are changed and so on. The feedback also is taken into account and this increase the quantity of changes. This quantity grows up like the snow ball. That's why this method is called The Snow Ball Methods. By the way, does not this method remind you of the so-o- technical Extra Effect determination Method? (ref. 6, 8)
15. What is Golden – Fish method?
One of the main characteristics of creative thinking is the ability to see unusual inside of usual and vice versa. Every fantasy (or inventive) situation consists of two parts: real things and fantastic "grain". The aim of the "Golden Fish Method" is to extract this fantastic "grain". In order to do this a fantastic situation is divided step by step into two parts - real and fantastic until it could not be divided any more. This indivisible part is called "fantastic grain". G. Saltshaker gives formula of resolving every fantasy situation:
1. F0= R1 + F1; (R - real , F - fantastic)
2. F1 = R2+ F2; and so on until Fi will be so small that we may not to consider it.
Let's see how does this method works on example of "Story about the golden fish".
"The old man had come to the sea and begins to call the golden fish. The fish got to him and ask by human voice..."
16. What is meant by creative people?
We provide a range of training programmes and a thinking styles profiling tool (HBDI) which are designed to unlock the creative potential of the individuals and teams within your business.
We can deliver any of the Creative People initiatives as independent programmes if you have a specific need in one or more of the areas. Or you can engage us to deliver the full 'Thinking Business' programme which will include the initiatives we recommend as a result of the Audit. Every organization is a 'whole brain' in that all four thinking, learning and communication styles are represented and active within the business
17. What is Team Dynamics?
A team is defined as a group of people working together to achieve some common objective or goals.
18. What are different types of teams?
Quality circles
Focus teams
Process improvement teams
Cross- functional teams
Natural work teams
Self-directed teams
Labor management action teams.
19. State the characteristics of successful teams.
Team composition
Training
Clear objectives
Accountability
Ground rules
Team character
Resources
Sponsor
Trust open communication.
20. What is Attribution?
It is the activity of guesting at a person’s motives behind an opinion or a suggestion when the point made by the person is not understood or when there is a disagreement. Solution is to reaffirm the importance of problem solving method, question whether the opinion is based on data and find the real meaning of the problem.
21. What are the characteristics off effective team?
skills and Role clarity
supportive environment
superodinate goals
Team rewards
22. What are the team’s personal needs?
Whether in fact a person is born a leader or develops skills and abilities to become a leader is open for debate. There are some clear characteristics that are found in good leaders.
23. What is Creative culture?
The Creative Culture element of the 'Thinking Business' model focuses on developing a culture which inspires and empowers original thinking throughout the business.
UNIT –V- TEAM ENVIRONMENT AND RECOGNITION
1. What is gain sharing?
Gain sharing is a financial reward and recognition system that results from improved organizational performance.
2. What is standard output?
(A) standard output, target production may be laid down for the month or a longer period and bonuses are paid if this is achieved and (b) A standard output per – man hour is laid down for a department or for the plant as a whole, and the bonus is paid in proportion to which the actual out put as per man-hour exceeds the standard, the other conditions of work remaining the same.
3. What is Scanlon plan?
This plan was introduced 1973 by Joseph Scanlon a Lecturer at Massachusetts institute of Technology and a trade union leader in a steel mill. The plan was designed to involve the workers in making suggestion for reducing the cost of operation and improving working methods and sharing in the gains of increased productivity.
4. What is Shift premium?
Companies operating second and third shifts, pay a premium to the workers who are required to work during the odd hours shift.
5. What is paid vacation?
Workers in manufacturing, mining and plantations who worked for 240 days during a calendar year are eligible for paid vacation at the rate of one day for every 20 days worked in case of adult workers and at the rate of one day for every 15 days worked in case of child workers.
6. What is a self direct work group?
The Innovative Team is a unique workshop of discovery and skill development. The experience creates the foundational skills necessary for your staff to be contributing members of an energetic and resilient team. The program transforms the way a team communicates, makes decisions, recognizes conflicts and solves problems.
7. What is Decision making?
When team members have an expectation of being allowed to make decisions and then have this taken from them, they very quickly become frustrated and loose trust in those around them. In teams, decisions are often forced by those with stronger voices or with more perceived power (or real power.) This workshop will use a form of consensus based decision-making and work to make this style a Shared Mental Model. Participants will have repeated opportunities to make decisions as a team. They will discover through their own experience how listening to all voices, creating buy-in and moving forward together will end the bad taste of forced decisions and create a tremendous new energy of commitment to the goal
8. What is work Measurement?
Work measurement is essential in order to find out whether a normal individual can perform the work or not. If not, the job has to be redesigned in order to design the job in such a way that normal individual can carry out successfully.
9. What do you understand by merit rating method?
Merit rating as the process of evaluating an employee’s performance on the job. Merit rating is concerned with employee appraisal. It is a systematic and impartial procedure for determining the excellence with which an individual is performing a job.
10. How innovative team creates atmosphere learning?
This experience-based training activity that transfer the learning into both the mind and the body. With the guidance of a skilled facilitator, participants learn to question habitual ways of addressing issues and to experiment with new approaches. The experience creates a common bond that establishes a foundation of trust and commitment among team members.
11. What is Incentive plan?
The term incentives has been used both in the restricted sense of participation and in the widest sense of financial innovation. It has been defined differently by different authors. It is a term which refers to objectives in the external situation whose function is to increase or maintain some already initiated activities, either in duration or in intensity.
12. State the importance of incentive plan.
Halsey plan
Rowan plan
Beadux point plan
Gantt task plan
Co-partnership system.
13. What do you understand by co-partnership system?
This system tries to eliminate friction between capital and labor. Under this system, not only does a worker share in the profits of the undertaking but he also takes part in its control and therefore, shares responsibilities.
ANAND INSTITUTE OF HIGHER TECHNOLOGY
KAZIPATTUR, CHENNAI
QUESTION BANK
HUMAN RESOURCES MANAGEMENT /MC 1625
PART –B SIXTEEN MARK QUESTIONS
UNIT – I – LEADERSHIP
1. Define Leadership. Explain the concepts and principles of Leadership.
2. What are the factors affecting Leadership?
3. Explain the Managerial Grid theory given Blake Mounton.
4. State the characteristics and qualities of leadership.
5. What is leadership? Explain the House path goal theories of leadership.
6. Explain Heresy and Blanchard's Situational Leadership.
7. Explain the transformational Leadership.
8. Explain the transactional Leadership.
9. Distinguish between Transactional and transformational Leadership.
10. State the leader’s Goal and explain the steps involved in leader’s goal.
11. What are the factors affecting Leadership challenge.
12. Explain the leadership conviction.
13. What is Technical leadership? Explain the factors affecting technical leadership given by Professor Rosa Beth Moss Kantar.
14. What is professionalism? State its importance and characteristics of professionalism.
15. Explain the managerial roles of professionalism.
UNIT – I I – MANAGING TECHNICAL AND PROFESSIONAL PEOPLE
16. What is HCM? State the factors of HCM.
17. Explain the Goal of Scientists and Engineers.
18. State the pitfalls in making performance Appraisals.
19. What is a work assignment? Explain the contents and types of work assignment.
20. What is Expatriate Manager? Explain the different types expatriate managers given by Reyer Swaak.
21. What is Need for Influence? Briefly explain the people management skills , roles and levels.
22. Define Motivation. Explain the motivation process.
23. What is motivation? Explain the Maslow’s hierarchy of needs.
24. Explain the two –factor theory of motivation.
25. “Theory X and Theory y are concerned with the nature of people.” How does the job satisfaction affect the application of this theory? What are its implications?
26. What are the various elements in porter Lawler model of motivation? What are the implications of these elements in motivating a person?
27. What is performance management? Explain the different methods of Performance management.
28. Define career planning. How people choose career?
29. Explain the process of career planning.
30. Explain the theories of career planning.
31. What is professional discipline? Explain the principles of professional discipline.
32. What is the manager’s role in professional discipline?
UNIT-III-IDENTIFICATION AND DEVELOPMENT OF TALENTED PEOPLE
33. Define Talent Management. State the importance of Talent management.
34. What are the principles of Talent management?
35. How does an organization effectively manage Talent?
36. Explain the process of Talent management?
37. Explain the characteristics of Talent Management?
38. What are the seven management practices in talent management?
39. Explain the talent management Frame work.
40. What is compensation management? Explain the different types of compensation management?
41. Explain the approaches of Talent management.
42. Define Talent Development. State its scope, principles of talent development.
43. Explain the methods of talent development.
44. What is Executive Development? Explain the methods of training and Development.
45. What are the factors affecting talent development?
46. What is meant by role playing? Explain the different types.
47. Explain the process of talent development.
48. What is counseling? State its characteristics and needs for counseling.
49. Explain the causes of counseling.
50. What is stress? Explain the methods of Stress.
51. Explain the functions of counseling.
52. What are the different types of counseling? State its draw backs.
UNIT-IV - INNOVATION
53. Define innovation. Explain the sources of innovations
54. Explain the different types of innovation.
55. Explain the diffusion theory of innovation.
56. Explain the process of innovation.
57. What is creativity? Explain the characteristics of creativity.
58. What is team dynamics? Explain the different types of teams.
59. What are the steps involved in team dynamics?
60. What is team development? Explain the software development example.
61. Explain the managers Responsibility of Teams.
62. What are the seven personal qualities found in good team’s personal needs?
63. What is Team synergism? Explain the characteristics of Team synergism?
64. What are the characteristics of an effective team? Discuss, briefly, the factors which determine team effectiveness.
65. Team creation is a long drawn process and many things have to be analyzed before creating teams. In the light of this statement, discuss the steps involved in team creation process.
UNIT-V - TEAM ENVIRONMENT AND RECOGNITION
66. Explain Innovative team environment.
67. What do you mean by intrinstric reward? How does it differ from extrinsic reward?
68. What do you mean by incentive? How is it important in motivating people in the organization?
69. “Non financial incentives are as strong motivators as financial ones.” Critically examine this statement and discuss various non- financial incentives and their role in motivation.
70. What is Award plan? What are the guidelines of Award plans?
71. What is empowerment? How does it affect work performance? How can empowerment be made effective?
72. “Job evaluation does not usually price jobs” discuss.
73. What is job evaluation? Explain the objectives of job evaluation. How do you prepare the ground for evaluating jobs?
74 .Briefly outline the purpose of a pay commission. How is it constituted? Critically examine the recommendations of the four central pay commissions.
75. “Fringe Benefits serve as golden hand- cuffs”- Discuss.
KAZIPATTUR, CHENNAI
QUESTION BANK
HUMAN RESOURCES MANAGEMENT /MC 1625
PART –A TWO MARKS QUESTION AND ANSWER
UNIT – I – LEADERSHIP
1. Define Leadership.
Leadership is concerned with influencing the activities of an individual or a group for the achievement of a goal in a given situation. Some of the important definitions of leadership are given below:
“Leadership is the ability of a manager to induce subordinates to work with confidence and Zeal”. – KOONTZ and O’DONNELL.
“Leadership is the lifting of man’s visions to higher sights, the raising of man’s performance to higher standards, the building of man’s personality beyond its normal limitations”.
2. What are the factors of Leadership?
1. Follower
2. Leader
3. Communication
4. Situation
3. What are the frame work approaches of leadership models?
Leadership models help us to understand what makes leaders act the way they do. The ideal is not to lock yourself in to a type of behavior discussed in the model, but to realize that every situation calls for a different approach or behavior to be taken. Two models will be discussed, the Four Framework Approach and the Managerial Grid.
a. Structural Framework
b. Human Resource Framework
c. Political Framework
d. Symbolic Framework
4. What are the leadership qualities?
According to Brennan, six qualities separate the leaders from the followers:
1. Integrity: This is a deal breaker if you don't have it completely. When it comes to governance, Brennan said, he "never did anything or asked anyone to do anything he couldn't go home and explain to his kids."
2. A deep understanding of the business: "You can't fake it. People will know." While you don't need to know every detail, you do have to have a good grasp of the business.
3. Consistency: While keeping things fresh is important, leaders cannot change direction frequently. They will lose people's confidence.
4. Willingness to admit a mistake: Everyone makes mistakes. If you're not making any, you're not doing your job right. But Brennan emphasized the importance of admitting your missteps -- otherwise people will not respect you.
5. The ability to listen: Good leaders must be willing to handle opinions contrary to their own and absorb as much as they can.
6. Decisiveness: While you should listen to others' opinions, the final decision is yours to make. Brennan said when CEOs fail, very often it's because they are not decisive. Average tenure for a CEO has fallen from more than a decade to three years because people lose confidence in leaders whose indecision results in failure.
5. What is meant by Role theory?
People define roles for themselves and others based on social learning and reading.
People form expectations about the roles that they and others will play.
People subtly encourage others to act within the role expectations they have for them.
People will act within the roles they adopt.
6. Write short note on Country Club Leader.
This person uses predominantly reward power to maintain discipline and to encourage the team to accomplish its goals. Conversely, they are almost incapable of employing the more punitive coercive and legitimate powers. This inability results from fear that using such powers could jeopardize relationships with the other team members.
7. Write a note on value Exchange.
Exchange is a game of balance. I help you then you help me then I help you, and so on.
What we exchange is not so much distinct things as perceived value. If I have something that I do not value very highly but you do, then it is a useful thing for exchange.
Exchanges are not necessarily financial or physical in nature. Emotional exchanges, which we use a great deal of the time, can be of surprising value. When I take my daughter to a pop concert, a smile and a hug is more than adequate payment. Simple thanks are all many want for much of their hard work on behalf of others.
8. What is meant by Transformational leadership?
People will follow a person who inspires them.
A person with vision and passion can achieve great things.
The way to get things done is by injecting enthusiasm and energy.
9. Write a note on leading the charge.
The final stage is to remain up-front and central during the action. Transformational Leaders are always visible and will stand up to be counted rather than hide behind their troops. They show by their attitudes and actions how everyone else should behave. They also make continued efforts to motivate and rally their followers, constantly doing the rounds, listening, soothing and enthusing.
10. What are the characteristics of Leadership challenge?
The results of the study showed that people preferred the following characteristics, in order:
• Honest
• Forward-looking
• Competent
• Inspiring
• Intelligent
• Fair-minded
• Broad-minded
• Supportive
• Straightforward
• Dependable
• Cooperative
• Determined
• Imaginative
• Ambitious
• Courageous
• Caring
• Mature
• Loyal
• Self-controlled
• Independent
The main part of the book discusses the five actions that Kouzes and Posner identify as being key for successful leadership
11. Explain Trompenaars' four diversity cultures.
Fens Trompenaars is another Dutch ultraist who is into international culture. This is a 2x2 model which is much simpler than the more complex Trompenaars' and Hampden-Turner's cultural factors.
The four diversity cultures
This model assumes major dimensions of person vs. task and centralized (which is also assumed to be hierarchical) vs. decentralized (which is assumed to be more egalitarian). Both of these dimensions are very common measures and can often be easily determined.
Egalitarian/decentralized
Person/Informal Style
Incubator
(fulfillment- oriented)
Guided Missile
(project- oriented) Task/Formal Style
Family
(power- oriented)
Eiffel Tower
(role- oriented)
Hierarchical/centralized
12. What do you understand by participative leadership?
Effective leaders use a participative style, managing at the group level as well as individually, for example using team meetings to share ideas and involve the team in group decisions and problem-solving. By their actions, such leaders model good team-oriented behavior. The role of the manager is more facilitative than directive, guiding the conversation and helping to resolve differences. The manager, however, is responsible for results and is not absolved of responsibility. As such, they may make final decisions that take recommendations from the team into account. The effect of participative leadership is to build a cohesive team which works together rather than a set of individuals.
13. Write a note on path- goal theory of leadership.
The Path-Goal Theory of Leadership was developed to describe the way that leaders encourage and support their followers in achieving the goals they have been set by making the path that they should take clear and easy.
In particular, leaders:
• Clarify the path so subordinates know which way to go.
• Remove roadblocks that are stopping them going there.
• Increasing the rewards along the route.
Leaders can take a strong or limited approach in these. In clarifying the path, they may be directive or give vague hints. In removing roadblocks, they may scour the path or help the follower move the bigger blocks. In increasing rewards, they may give occasional encouragement or pave the way with gold.
This variation in approach will depend on the situation, including the follower's capability and motivation, as well as the difficulty of the job and other contextual factors
14. What is meant by transactional leadership?
The transactional leader works through creating clear structures whereby it is clear what is required of their subordinates, and the rewards that they get for following orders. Punishments are not always mentioned, but they are also well-understood and formal systems of discipline are usually in place. The early stage of Transactional Leadership is in negotiating the contract whereby the subordinate is given a salary and other benefits, and the company (and by implication the subordinate's manager) gets authority over the subordinate. When the Transactional Leader allocates work to a subordinate, they are considered to be fully responsible for it, whether or not they have the resources or capability to carry it out. When things go wrong, then the subordinate is considered to be personally at fault, and is punished for their failure (just as they are rewarded for succeeding). The transactional leader often uses management by exception, working on the principle that if something is operating to defined (and hence expected) performance then it does not need attention. Exceptions to expectation require praise and reward for exceeding expectation, whilst some kind of corrective action is applied for performance below expectation. Whereas Transformational Leadership has more of a 'selling' style, Transactional Leadership, once the contract is in place, takes a 'telling' style.
15. What is meant by charismatic leadership?
Charisma is seen as necessary, but not sufficient, for example in the way that charismatic movie stars may not make good leaders. Two key charismatic effects that transformational leaders achieve is to evoke strong emotions and to cause identification of the followers with the leader. This may be through stirring appeals. It may also may occur through quieter methods such as coaching and mentoring.
16. What is an exemplary follower?
Exemplary followers are ideal in almost all ways, excelling at all tasks, engaging strongly with the group and providing intelligent yet sensitive support and challenge to the leader
16. What is the difference between management and leadership?
It is a question that has been asked more than once and also answered in different ways. The biggest difference between managers and leaders is the way they motivate the people who work or follow them, and this sets the tone for most other aspects of what they do.
Many people, by the way, are both. They have management jobs, but they realize that you cannot buy hearts, especially to follow them down a difficult path, and so act as leaders too.
1. Managers have subordinates
By definition, managers have subordinates - unless their title is honorary and given as a mark of seniority, in which case the title is a misnomer and their power over others is other than formal authority.
2. Authoritarian, transactional style
Managers have a position of authority vested in them by the company, and their subordinates work for them and largely do as they are told. Management style is transactional, in that the manager tells the subordinate what to do, and the subordinate does this not because they are a blind robot, but because they have been promised a reward (at minimum their salary) for doing so.
3. Work focus
Managers are paid to get things done (they are subordinates too), often within tight constraints of time and money. They thus naturally pass on this work focus to their subordinates.
4. Seek comfort
An interesting research finding about managers is that they tend to come from stable home backgrounds and led relatively normal and comfortable lives. This leads them to be relatively risk-averse and they will seek to avoid conflict where possible. In terms of people, they generally like to run a 'happy ship'.
5. Leaders have followers
Leaders do not have subordinates - at least not when they are leading. Many organizational leaders do have subordinates, but only because they are also managers. But when they want to lead, they have to give up formal authoritarian control, because to lead is to have followers, and following is always a voluntary activity.
6. Charismatic, transformational style
Telling people what to do does not inspire them to follow you. You have to appeal to them, showing how following them will lead to their hearts' desire. They must want to follow you enough to stop what they are doing and perhaps walk into danger and situations that they would not normally consider risking.
Leaders with a stronger charisma find it easier to attract people to their cause. As a part of their persuasion they typically promise transformational benefits, such that their followers will not just receive extrinsic rewards but will somehow become better people.
7. People focus
Although many leaders have a charismatic style to some extent, this does not require a loud personality. They are always good with people, and quiet styles that give credit to others (and takes blame on themselves) are very effective at creating the loyalty that great leaders engender.
Although leaders are good with people, this does not mean they are friendly with them. In order to keep the mystique of leadership, they often retain a degree of separation and aloofness.
This does not mean that leaders do not pay attention to tasks - in fact they are often very achievement-focused. What they do realize, however, is the importance of enthusing others to work towards their vision.
8. Seek risk
In the same study that showed managers as risk-averse, leaders appeared as risk-seeking, although they are not blind thrill-seekers. When pursuing their vision, they consider it natural to encounter problems and hurdles that must be overcome along the way. They are thus comfortable with risk and will see routes that others avoid as potential opportunities for advantage and will happily break rules in order to get things done.
A surprising number of these leaders had some form of handicap in their lives which they had to overcome. Some had traumatic childhoods, some had problems such as dyslexia, others were shorter than average. This perhaps taught them the independence of mind that is needed to go out on a limb and not worry
17. What is Technical leadership?
Technical leadership Jerry states: "Leadership is the process of creating an environment in which people become empowered."
Technical leadership is something that may appear natural, but actually takes a great deal of practice and research. In order to be a leader, you need to have enough contexts about what is going on to have a vision and then convey it to others. You have to develop enough influence so that others (individual performers and formal leaders) care what you have to say. Technical leadership is more about leading a process than leading people directly. I easily spend 10-14 hours a week researching technical topics, and still feel that is grossly inadequate.
In order to be a technical leader, you need to develop a network of people who will listen to what you have to say and follow. After all a leader without followers is not a leader. Blogging may be one way to do this, but there are many others. The most effective one that works for me is just answering other folk's questions. If enough people feel they owe you, you have some influence; I guess that would be "The Godfather" school of technical leadership.
18. What is Goal Difficulty?
Increasing your employees' goal difficulty increases their challenges and enhances the amount of effort expended to achieve them. The more difficult goals lead to increased performance if they seem feasible. If they seem too high, employees will give up when they fail to achieve them.
19. What is Servant leader?
The servant leader (Greenleaf, 1977)[4] facilitates goal accomplishment by giving its team members what they need in order to be productive. This leader is an instrument employees use to reach the goal rather than an commanding voice that moves to change. This leadership style, in a manner similar to democratic leadership, tends to achieve the results in a slower time frame than other styles, although employee engagement is higher
20. What is Environment Leader?
The environment leader ( Carmazzi, 2005)[6] is the one who nurtures group or organizational environment to affect the emotional and psychological perception of an individual’s place in that group or organization. An understanding and application of group psychology and dynamics is essential for this style to be effective. The leader uses organizational culture to inspire individuals and develop leaders at all levels. This leadership style relies on creating an education matrix where groups interactively learn the fundamental psychology of group dynamics and culture from each other. The leader uses this psychology, and complementary language, to influence direction through the members of the inspired group to do what is required for the benefit of all.
21. How the vision is created?
No matter how you try to get around the issue, the fact is that people only support what they help create. A vision created by top management, will be supported primarily by top management. Unless people feel they have an influence over the creation of the organization’s vision, commitment to the vision will be difficult to achieve. One way to involve people, as mentioned in the article, is for leaders to engage employees in discussing the vision “senior leaders encourage dialogue about the vision by asking people these questions: ‘Would you like to work for an organization that has this vision? Can you see where you fit in the vision? Does it help you set priorities? Does it provide guidelines for making decisions? Is it exciting and motivating? Have we left anything out? Should we delete anything?’”
22. What is leader’s vision?
Many definitions of leadership involve an element of Goal management vision — except in cases of involuntary leadership and often in cases of traditional leadership. A vision provides direction to the influence process. A leader or group of leaders can have one or more visions of the future to aid them to move a group successfully towards this goal. A vision, for effectiveness, should allegedly:
• appear as a simple, yet vibrant, image in the mind of the leader
• describe a future state, credible and preferable to the present state
• act as a bridge between the current state and a future optimum state
• appear desirable enough to energize followers
• succeed in speaking to followers at an emotional or spiritual level (logical appeals by themselves seldom muster a following)
For leadership to occur, according to this theory, some people "leaders" must communicate the vision to others "followers" in such a way that the followers adopt the vision as their own. Leaders must not just see the vision themselves, they must have the ability to get others to see it also. Numerous techniques aid in this process, including: narratives, metaphors, symbolic actions, leading by example, incentives, and penalty penalties.
23. What is professionalism?
The term profession refers to an occupation, vocation or high-status career, usually involving prolonged academic training, formal qualifications and membership of a professional or regulatory body. Professions involve the application of specialized knowledge of a subject, field, or science to fee-paying clientele.[1] It is axiomatic that "professional activity involves systematic knowledge and proficiency."[2] Professions are usually regulated by professional bodies that may set examinations of competence, act as a licensing authority for practitioners, and enforce adherence to an ethical code of practice.
24. What are the elements of professionalism?
True professionals:
• are competent;
• know their limitations, and are willing to push these back continuously;
• are discreet and respect confidentiality;
• stick to promises and agreements;
• are loyal and honest towards clients and colleagues;
• practice what they preach;
• are strongly motivated by ethical values;
• are rational and objective, but respect their partners’ emotions;
• are creative;
• are independent, but communicate well;
• are willing to be held accountable and to explain their actions, and report unasked;
• are willing to share knowledge and skills;
• foster professionalism in others, wherever they find it.
25. What is traditional recruiting agency?
Also known as a employment agencies, recruitment agencies have historically had a physical location. A candidate visits a local branch for a short interview and an assessment before being taken onto the agency’s books. Recruitment Consultants then endeavor to match their pool of candidates to their clients' open positions. Suitable candidates are with potential employers. Remuneration for the agency's services usually takes one of two forms:
• A contingency fee paid by the company when a recommended candidate accepts a job with the client company (typically 20%-30% of the candidate’s starting salary), which usually has some form of guarantee, should the candidate fail to perform and is terminated within a set period of time.
• An advance payment that serves as a retainer, also paid by the company.
• It may still be legal for an employment agency to charge the candidate instead of the company, but in most places that practice is now illegal, due to past unfair and deceptive practices.
26. What is a Head hunter?
Headhunters are third-party recruiters often retained when normal recruitment efforts have failed. Headhunters are generally more aggressive than in-house recruiters. They may use advanced sales techniques, such as initially posing as clients to gather employee contacts, as well as visiting candidate offices. They may also purchase expensive lists of names and job titles, but more often will generate their own lists. They may prepare a candidate for the interview, help negotiate the salary, and conduct closure to the search. They are frequently members in good standing of industry trade groups and associations. Headhunters will often attend trade shows and other meetings nationally or even internationally that may be attended by potential candidates and hiring managers.
27. What is in – house recruitment?
Larger employers tend to undertake their own in-house recruitment, using their Human Resources department. In addition to coordinating with the agencies mentioned above, in-house recruiters may advertise job vacancies on their own websites, coordinate employee referral schemes, and/or focus on campus graduate recruitment. Alternatively a large employer may choose to outsource all or some of their recruitment process (Recruitment process outsourcing).
28. Explain Managing Stress.
Stress management encompasses techniques intended to equip a person with effective coping mechanisms for dealing with psychological stress, with stress defined as a person's physiological response to an internal or external stimulus that triggers the fight-or-flight response. Stress management is effective when a person utilizes strategies to cope with or alter stressful situations.
29. What is Negotiation?
Negotiation is a dialogue intended to resolve disputes, to produce an agreement upon courses of action, to bargain for individual or collective advantage, or to craft outcomes to satisfy various interests. It is the primary method of resolution. Negotiation occurs in business, non-profit organizations, and government branches, legal proceedings, among nations and in personal situations such as marriage, divorce, parenting, and everyday life. The study of the subject is called negotiation theory. Those who work in negotiation professionally are called negotiators. Professional negotiators are often specialized, such as union negotiators, leverage buyout negotiators, peace negotiators, hostage negotiators, or may work under other titles, such as diplomats, legislators or brokers.
30. What is rewarding?
In an effective organization, rewards are used well. Rewarding means recognizing employees, individually and as members of groups, for their performance and acknowledging their contributions to the agency's mission. A basic principle of effective management is that all behavior is controlled by its consequences. Those consequences can and should be both formal and informal and both positive and negative. Good performance is recognized without waiting for nominations for formal awards to be solicited. Recognition is an ongoing, natural part of day-to-day experience. A lot of the actions that reward good performance — like saying "Thank you" — don't require a specific regulatory authority. Nonetheless, awards regulations provide a broad range of forms that more formal rewards can take, such as cash, time off, and many nonmonetary items. The regulations also cover a variety of contributions that can be rewarded, from suggestions to group accomplishments.
31. What are the manager roles in professionalism?
It is interesting to note that the kind of assignments HR managers perform differ organization to organization and situation to situation. Sometimes, we find it extremely difficult to profile the job of HR manager in definite terms. This precisely the reason why HR manager is required to handle variety of functions and in the process, performing different roles. This is more a necessity than an option for those HR managers who want to complete HRM professionals. If it is so, what kind of roles HRM professionals may have to perform? American society for Training and Development provides answer to this question based on surveying the job descriptions and job profiles of a large number of HRM managers.
32. What is individual development counselor?
The role of helping an individual to assess personal competencies, values, goals and identify and plan development and career actions.
33. What is marketer?
The role of selling, training and development view points, learning packages, programmes and services to target audiences outside one’s own work unit.
34. What is Strategist?
The role of developing long range plans for what the training and development structure, organization, direction, policies, programmes, services and practices will be in order to accomplish the training and development vision.
35. What is Task analyst?
The role of identifying activities, tasks, sub-tasks, human resource, and support requirements necessary to accomplish specific results in a job or organization.
UNIT –II - MANAGING TECHNICAL AND PROFESSIONAL PEOPLE
1. What is Human capital Organization?
In addition to technical and business skills, engineers and scientists need to be positioned to manage the human capital of their organization. For this, management and leadership training is essential. This will enhance the development of the engineer and scientist who already has a strong education. A comprehensive leadership training portfolio would include team building, the understanding of group dynamics, negotiation, conflict management, motivation, the constructive use of feedback, and performance evaluation. Effective communication coupled with self awareness will allow the individual to be a productive team member and also learn the skills necessary to become the leader of a winning team. And effective team leadership can only open doors for engineers and scientists as their careers progress.
2. What is Team Building?
Team working is the right strategy to execute these interdependent tasks. Team, though as old as any other HRM practice, the mixed results it delivered has become a potential deterrent for its widespread adoption in the organizational working and many managers are overcautious with the implementation of team structures. However, experiences and research studies have consistently high – lighted that teams failed to deliver results wherever they are dealt wrongly, especially in their formation and development stage. Therefore, understanding these difficulties and mastering their solutions should be primary responsibility of all HR professionals.
3. What is Group Dynamics?
Group dynamics refers to the interaction of forces between group members in a social situation. However, the term group dynamics is defined in different ways. One view is that group dynamics describes how a group should be organized and operated. This includes democratic leadership, participation, and cooperation. Another view takes group dynamics as a set of techniques such as role playing, brainstorming, leaderless group, group therapy, sensitivity training, etc. According to the third view, group dynamics is viewed from the internal nature of groups, their formation, structure and processes, and the way they affect individual members, other groups, and the organization.
4. What is conflict management?
The management within an organization should function in such a way so as to maximize the coordination of human resources and work system and to minimize conflict.
5. What is Performance Evaluation?
Performance evaluation is a necessary and beneficial process, which provides annual feedback to staff members about job effectiveness and career guidance. The performance review is intended to be a fair and balanced assessment of an employee's performance.
6. Write short note on Halo Effect.
The "Halo" effect occurs when one factor influences ratings on all factors. Examples: An employee's work is of good quality, therefore, other ratings (such as those on promptness or work quantity) are higher than normal. Another employee is frequently absent, with the result that the ratings on other factors are usually low.
7. Write short note on cluster tendency.
The tendency to consider everyone in the work group as above average, average, or below average. Some raters are considered "tough" because they normally "cluster" their people at a low level. Others are too lenient. "Clustering" overall ratings usually indicates that the rater has not sufficiently discriminated between high and low levels of performance
8. Write a note on Personality Conflicts.
Avoid judgments made purely on the basis of personality traits. Effective, efficient employees do not necessarily agree with everything a supervisor believes in or states.
9. What is Goal of Scientists?
Contribution is new and original knowledge.
Reward is social approval from of professional recognition.
A well- developed communication systems based on un restricted access in imperative to recognition and claim of discovery.
Since recognition and priority of discovery are critical, strong norms against any restriction to free and open communication exists in the social system of science.
Special rewards that are not part of the social system of science in return for scientific contribution is not considered proper with the social system of science.
Exchange networks commonly referred to as “invisible colleges” exist in the social system of science in networks the commodities and recognition.
10. What is goal of Engineers?
According to Blade, the goals are engineers are as follows:
Contribution is (technical) knowledge used to produce end- items or products.
New and original knowledge is not a requirement.
Reward is not a monetary or materialistic and serves as an inducement to make further contribution to technical knowledge
Seeking rewards that are not part of the social systems of technology is quite proper and also encouraged.
The value of technical knowledge lies in its value as a commodity of indirect exchange.
Exchange of networks found in the social system of technology based on end-item products, not knowledge.
Strong norms against free exchange or open access to knowledge with others outside of the organization exist in the social system technology.
11. What do you understand by work assignment?
The Work Assignment is the central concept that relates employees to the structures in which they work, and the compensation and benefits for which they are eligible.
Many of the activities you undertake in human resource management, such as vacancy management and budget planning, are based around assignments and not people. In particular, you enter many benefit–related elements for the employee assignment, rather than the employee.
12. What is employee number?
The Employee Number uniquely identifies every employee in your
Business Group. An employee can have only one Employee Number. You decide how
This number is to be generated when you define your Business Group:
Automatic
Manual
National Identifier
National Identifier, such as US Social Security number
13. Write a note on worker participation.
Worker participation has a long history in Western Europe, where it tends to go far beyond matters such as pay and working conditions. The aim is to create a system by which workers can participate directly in the management of the enterprise. Works councils and codetermination are two examples.
14. What is Expatriate Work Assignments?
An expatriate is a person who works and lives abroad for extended periods of time. The cost of an expatriate worker can be very high for the employer. Progressive employers will maximize the potential expatriate performance success by taking a variety of supportive actions. They are carefully recruit employees who have the right sensitivity and skills, provide them with good training and orientation to the foreign culture, actively support them, give extra attention to the needs of the expatriate’s family members and pay careful attention to relocation when the expatriate and family return home.
Expatriate usually face their greatest problems when entering and working in a foreign culture, and when experiencing repatriation back home. The expatriate undergoes three phases of adjustment to the new country.
15. What is Expatriate Failure?
Expatriate failure occurs when an expatriate is forced to return to his or her home organization before the expected duration of the foreign assignment is completed. Selecting suitable managers is the logical first steps but that alone does not ensure success. There are number of reasons besides poor selection that contribute to expatriate failure. The major causes of expatriate failure are given below:
1. Selection based on headquarters criteria rather than assignment needs.
2. Inadequate preparation, training, and orientation prior to assignment.
3. Alienation or lack of support from headquarters.
4. Inability to adapt to local culture and working environment.
5. Problems with spouse and children – poor adaptation, family unhappiness.
6. In sufficient compensation and financial support.
7. Poor programmes for career support and reputation.
16. What is Need for influence?
The overarching goal of human resource development interventions is to provide activities and other mechanisms that assist employees and organizations in attaining their goals. HRD professionals can help employees meet their personal goals by providing programs and interventions that promote individual development, for example, career development activities, mentoring, and formal training and educational opportunities. Concerning organizational goals, the ultimate objective of most, if not all, HRD programs are to improve organizational Performance. HRD efforts are not the only contributors to organizational performance however; they are increasingly recognized as a critical component of organizational success. Further, a major focus of most HRD interventions is an effort to change employee behavior. That is, the hope is that providing employees with the skills and behaviors they need to perform successfully should lead to the greatest accomplishment of both employee and organizational goals. Thus, the field of HRD has had (and continues to have) a strong focus on employee behavior. In order to change any behavior, we must first understand the factors that cause employees to behave the way that they do. Armed with this knowledge, we can more accurately diagnose performance problems, understand what makes effective Performance possible, and design HRD programs to create the behavior to want.
17. What is Motivation?
Motivation is the reason or reasons for engaging in a particular behavior, especially human behavior as studied in psychology and neuropsychological. These reasons may include basic needs such as food or a desired object, hobbies, goal, state of being, or ideal. The motivation for a behavior may also be attributed to less-apparent reasons such as altruism or morality. According to Gene,[1] motivation refers to the initiation, direction, intensity and persistence of human behavior.
18. What is creativity?
Self-actualizing people are highly imaginative and creative. The creativity involved here is not special-talent creativity. It is a creativity potentially inherent in everyone but usually suffocated by acculturation. It is a fresh, naive, direct way of looking at things, rather similar to the naive and universal creativity of unspoiled children
19. What is meant by group dynamics?
Group dynamics is the study of groups, and also a general term for group processes. Relevant to the fields of psychology, sociology, and communication studies, a group is two or more individuals who are connected to each other by social relationships.[1] Because they interact and influence each other, groups develop a number of dynamic processes that separate them from a random collection of individuals. These processes include norms, roles, relations, development, need to belong, social influence, and effects on behavior. The field of group dynamics is primarily concerned with small group behavior. Groups may be classified as aggregate, primary, secondary and category groups.
20. Write a note on Naive persona.
The Naive person has a large Blind Self that others can see. They thus may make significant social gaffes and not even realize what they have done or how others see them. They hide little about themselves and are typically considered as harmless by others, who either treat them in kind, and perhaps patronizing ways (that go unnoticed) or take unkind advantage of their naivety.
What you see in me What you do not see in me
What I see in me The Public Self The Private Self
What I do not see in me The Blind Self The Undiscovered Self
The Naive Persona may also be something of a bull in a china shop, for example using aggression without realizing the damage that it does, and can thus be disliked or feared. They may also wear their heart on their sleeves and lack the emotional intelligence to see how others see them.
21. What is meant by Performance management?
Performance management is the process of assessing progress toward achieving predetermined goals. Performance management is building on that process, adding the relevant communication and action on the progress achieved against these predetermined goals.
22. What is peer ranking?
In the peer ranking approach, the manager is typically asked to assess the overall performance of an employee by ranking them in relation to other employees. Some attempted to deal with the inherent subjectivity of this method by using a forced-ranking method, which meant distributing ratings so they conformed to a normal distribution curve. But as T. Peters (1987) points out, this means creating a statistical imperative to evaluate a pre-determined portion of employees as losers.
23. What is professional career?
A career is the series of work- related positions a person occupies throughout life. People pursue careers to satisfy deeply individual needs. At one time, identifying with one employer seemed to fulfill many of those needs. Now, the distinction between the way individuals and organizations view careers is significantly differently
24. How People Choose Careers?
Four general individual characteristics affect how people make career choices:
Interest
Self- image
Personality
Social back grounds
25. What is mind mapping?
Devised and developed by Tony Bussan, Mind Mapping is a technique used to capture ideas from a brainstorming exercise in an organized and structure.
26. What is Time Management?
Setting aside time on a routine basis to review and update your development plan and records is essential if you are serious about your professional development. Whether you do this daily, weekly, monthly or annually, schedule time in your diary when you can focus on your development needs. Keeping your records up-to-date is much easier when things are fresh in your mind. Making time to jot something down, even if it’s just in note form, will make your records more accurate and meaningful, and will save time in the long run. If you have a mentor you will also need to arrange regular discussions to review and plan your progress. It will help you both if you agree what the frequency of these discussions should be and allow yourself some preparation time so that you can get the most out of the meeting.
27. What is SWOT Analysis?
We are often required to undertake a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of a project or other aspect of our work. We can apply the same technique to assessing the possibilities for our own careers. Understanding what our strengths and weaknesses are will help us to know where we are most likely to be successful and in what areas we will need to work harder to achieve. Likewise, knowing what opportunities are likely to arise will help us ensure that we are ready to take advantage of them; and being aware of possible threats gives us the chance to take action to minimize any negative consequences. You might like to ask for help in doing this analysis. Your Human Resources department may be able to arrange for you to undertake some psychometric tests to pinpoint your strengths and weaknesses. Talking to your manager or mentor may help you identify possible opportunities and threats.
28. What is Mentoring?
Planned professional development is essential for all practicing professionals. The responsibility for development must always lie with the individual, but the active support of a wise colleague, in the role of a mentor, can be extremely helpful at particular times, for example in the early stages of a career or in times of change. A mentor can help you to assess your needs and establish a development plan. Regular review meetings can then be arranged to consider progress and review learning. Knowing you have a forthcoming meeting helps you to focus on achieving targets! Your mentor will also give you the opportunity to try out, in confidence, a range of ideas and methods of working before having to make final decisions on the way ahead.
29. Write a note on Genetic endowment and special abilities.
Some biological inherited factors as e.g. race, gender, ad physical appearance can be restrictive on career development. Other factors at least partially influenced by inheritance, including special abilities as e.g. musical and artistic ability, and physical co-ordination, may also set limits
30. What are the company mentoring schemes?
Mentors can operate independently in all types and sizes of organization, but company schemes are found to be more effective if they:
• have the support of top management
• use carefully selected volunteers, who are well-matched to the employees being mentored
• start within a limited pilot mentoring programme, which can be extended as it becomes established
• operate as part of a wider scheme, which is unobtrusively monitored
• are supported by an able co-coordinator, usually a manager or Human Resources professional, who maintains the programme and ensures that its standard (and thus its reputation) remains high
• Take care to distinguish between the roles of line managers and mentors, to avoid conflicts between concern for task completion and the mentee's training and development needs.
UNIT-III-IDENTIFICATION AND DEVELOPMENT OF TALENTED PEOPLE
1. What is Talent management?
Talent management is a process that emerged in the 1990s and continues to be adopted, as more companies come to realize that their employees’ talents and skills drive their business success. These companies develop plans and processes to track and manage their employee talent, including the following:
• Attracting and recruiting qualified candidates with competitive backgrounds
• Managing and defining competitive salaries
• Training and development opportunities
• Performance management processes
• Retention programs
• Promotion and transitioning
2. Define Talent management.
“The recruitment, selection, identification, retention, management, and development of personnel considered to have the potential for high performance. Talent management is a model of personnel management. It focuses on the skills and abilities of the individual and on his or her potential for promotion to senior management roles. It also assesses how much of a contribution the individual can make to the success of the organization
3. State the importance of talent management.
Talent management (TM) brings together a number of important human resources (HR) and management initiatives.
Organizations that formally decide to "manage their talent" undertake a strategic analysis of their current HR processes. This is to ensure that a co-coordinated, performance oriented approach is adopted.
Quite often, organizations adopting a TM approach will focus on co-coordinating and integrating:
• Recruitment - ensuring the right people are attracted to the organization.
• Retention - developing and implementing practices that reward and support employees.
4. State any 2 principles of talent management.
Talent management strategies are required to understand not only what talent is needed to achieve business goals, but how to recruit, retain and develop that talent. Four major principles for talent management have been identified by Duttagupta:
Build a winning environment that people want to belong to — create opportunities to excel by using strengths, personal and professional challenges, constant new projects to work on, teams and leaders who provide a rich mix of strengths and lifestyle considerations.
Establish a talent management mindset, which enables ownership and accountability for optimizing talent and potential — coaching, mentoring, empowerment and sponsorship.
Create tangible means to identify, select and deploy people of outstanding talent — identify the talent needed and how to source it and use it for optimal effect.
5. How does an organization effectively manage Talent?
1. Recognize Talent
2. Attracting Talent
3. Selecting Talent
4. Retaining Talent
6. What is meant by Teaching & Coaching?
This means having people in the organization - both managers and specialists - whose role it is to help others to grow, learn and realize their potential. Many organizations have de-emphasized this key task as pressure to meet quarterly performance targets have cascaded down to every level of the organization.
Schools provide an inspiration and model from which other organizations can learn. They have teachers whose only job is to develop their student's skills and learning. While few organizations are positioned to employ full-time teachers, many should encourage and help managers and staff to take on this role. They can do this by explicitly acknowledging the value of teaching and coaching and including these responsibilities in the expectations and measures of performance set for managers and staff.
7. What is a Horizontal growth path?
Flattening of hierarchies in recent years has severely curtailed growth paths in many organizations. But growth shouldn't just be up the ladder or depend purely on acquiring managerial skills. Another productive growth path is horizontal and progressive organizations have created lateral paths that allow people to broaden their skills and knowledge within their disciplines and jobs.
8. What is compensation management?
Success Factors Compensation Management helps you boost the performance of your employees via compensation rewards, creating a more engaged workforce that’s willing to go the extra mile for your organization. Plus you’ll enjoy clearer visibility into individual employee performance when it comes time to make those all-important compensation planning decisions.
• Create a True Pay-for-Performance Culture. Provide a clear linkage for employees between their compensation and your performance expectations.
• Improve Retention. Recognize employees for a job well done using variable pay and other proven methods. So your top performers stay happy—and more likely to stay with your company.
• Optimize Budgets. Run “what-if” scenarios and instantly see how increasing merit pay to your best employees would impact your budget.
• Save on Salaries. Save your business thousands of dollars every year by making sure you’re not unfairly compensating those employees who fall short in their efforts to help your company achieve its key objectives.
9. What is Talent planning?
Success Factors Talent Planning helps retain and develop talent at every level of your company [Hilton Hotels Success Story]. This robust planning application lets you easily map every staffing move - across teams, departments or divisions. Plus you can construct and create new department hiring plans, while providing employees with greater visibility into the future of their careers.
• Build bench strength. Gain visibility to your existing talent pools - and potential gaps - so you can proactively train and groom employees for key positions.
• Better assess your talent. Formulate valuable insights about your workforce by gathering information on their backgrounds, expertise, performance, career aspirations, and more.
• Uncover "hidden" talent. Greatly expand your internal talent search efforts beyond your immediate sphere.
• Find the best candidate, every time. Speed the process of finding just the right employees to fill your leadership gaps
10. What are the characteristics of talent management?
1. Focused on client need
2. Cause-conscious, not solution-focused
3. Systemic thinkers
4. Appropriately involve others
5. Organized, rigorous and prudent
6. Sensitive to the need for verifying perceptions
7. Sort out and maintain a firm hand on priorities
8. Diplomatic and credible
9. Generous in giving credit to others
10. Principled, yet flexible
11. What is Succession planning?
In organizational development, succession planning is the process of identifying and preparing suitable employees through mentoring, training and job rotation, to replace key players — such as the chief executive officer (CEO) — within an organization as their terms expire. From the risk management aspect, provisions are made in case no suitable internal candidates are available to replace the loss of any key person. It is usual for an organization to insure the key person so that funds are available if she or he dies and these funds can be used by the business to cope with the problems before a suitable replacement is found or developed. Succession Planning involves having senior executives periodically review their top executives and those in the next lower level to determine several backups for each senior position. This is important because it often takes years of grooming to develop effective senior managers. There is a critical shortage in companies of middle and top leaders for the next five years Organizations will need to create pools of candidates with high leadership potential.
12. What are Flexible timings?
Organizations provide for flexible timings to the employees who cannot come to work during normal shifts due to their personal problems and valid reasons.
13. What is strategic compensation?
Strategic compensation is determining and providing the compensation packages to the employees that are aligned with the business goals and objectives. In today’s competitive scenario organizations have to take special measures regarding compensation of the employees so that the organizations retain the valuable employees. The compensation systems have changed from traditional ones to strategic compensation systems.
14. What is Employee Retention?
Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee.
15. What is e- HRM?
E – HR system is a web based solution that takes advantage of the latest web application technology to deliver an online real- time human resource solution. It is comprehensive but easy to use, feature- rich yet flexible enough to be tailored to your specific needs.
16. What is talent Development?
Talent Development, part of human resource development, is the process of changing an organization, its employees, its stakeholders, and groups of people within it, using planned and unplanned learning, in order to achieve and maintain a competitive advantage for the organization. Roth well notes that the name may well be a term in search of a meaning, like so much in management, and suggests that it be thought of as selective attention paid to the top 10% of employees, either by potential or performance.
17. Define Talent management.
The term "Talent Development" is becoming increasingly popular in several organizations, as companies are now moving from the traditional term "Training and Development". Talent Development encompasses a variety of components such as training, career development, career management, and organizational development, and training and development. As we proceed through the 21st century more companies will begin to use more integrated terms such as "Talent Development
18. State the objectives of talent management.
The talent development programmes are organized with a view to achieving specific objectives. They are:
To overhaul the management machinery.
To improve the performance of managers.
To give the specialists on overall view of the functions of an organization and equip them to co- ordinate each others efforts effectively.
To identify persons with the required potential and prepare them for senior positions.
To increase morale of the members of the management group.
To increase versatility of the management group.
To keep the executives abreast with the changes and developments in their respective fields.
19. What are the factors affecting talent development?
The factors affecting TD are seen in these definitions. They are briefly analyzed in the following factors:
(1) Manpower Development
(2) Career Planning
(3) Organizational Structure
(4) Organizational Climate
(5) Development of Individuals
(6) Employee Counseling
(7) Recruitment and Selection
20. State the scope of talent Development.
1. Recruiting the employees within the dimensions and possibilities for developing human resource.
2. Selecting those employees having potentialities for development to meet the present and future organizational needs.
3. Train all the employees in acquiring new technical skills and knowledge.
4. Develop the employees in managerial grid and behavioral skills and knowledge.
21. State the principles of Talent Development.
The management should assess the development needs of its mangers at different levels through performance analysis and development methods.
Management should decentralize the responsibility of developing the managers of different departments/ units and make the head of the department unit responsible for it.
Management should integrate career planning and development of the organization with the management development programmes.
22. What are the methods of talent development?
The various methods that come under Cognitive approach are:
LECTURES
DEMONSTRATIONS
DISCUSSIONS
COMPUTER BASED TRAINING (CBT)
INTELLEGENT TUTORIAL SYSTEM (ITS)
PROGRAMMED INSTRUCTION (PI)
VIRTUAL REALITY
23. What is meant by Discussion training method?
This method uses a lecturer to provide the learners with context that is supported, elaborated, explains, or expanded on through interactions both among the trainees and between the trainer and the trainees. The interaction and the communication between these two make it much more effective and powerful than the lecture method. If the Discussion method is used with proper sequence i.e. lectures, followed by discussion and questioning, can achieve higher level knowledge objectives, such as problem solving and principle learning.
The Discussion method consists a two-way flow of communication i.e. knowledge in the form of lecture is communicated to trainees, and then understanding is conveyed back by trainees to trainer.
24. What is Equipment Stimulators?
Equipment simulators are the mechanical devices that necessitate trainees to use some actions, plans, measures, trials, movements, or decision processes they would use with equipment back on the their respective work place
25. What is meant by Role play training method?
Role play is a simulation in which each participant is given a role to play. Trainees are given with some information related to description of the role, concerns, objectives, responsibilities, emotions, etc. Then, a general description of the situation, and the problem that each one of them faces, is given. For instance, situation could be strike in factory, managing conflict, two parties in conflict, scheduling vacation days, etc. Once the participants read their role descriptions, they act out their roles by interacting with one another.
26. What is Transactional Analysis?
Transactional Analysis provides trainees with a realistic and useful method for analyzing and understanding the behavior of others. In every social interaction, there is a motivation provided by one person and a reaction to that motivation given by another person. This motivation-reaction relationship between two persons is a transaction. Transactional analysis can be done by the ego states of an individual.
27. State the principles of Talent Development.
The top management of a company should follow certain principles to make the talent development programmes effective. They are:
The management should assess the development needs of its managers at different levels through performance analysis and development methods.
Management should decentralize the responsibility of developing the mangers of different departments/ units and make the head of the department unit responsible for it.
Management should integrate career planning and development of the organization with the management development programmes.
Every manager of the organization should be motivated and empowered to take up developmental programmes.
Talent development programme is a continuous process.
Management should encourage the manager to take up programmes on their own in addition to the company sponsored programmes.
Management should make use of the management development programmes organized by outside agencies like IIMs, XLRI etc.
28. What is meant by Counselling?
According to B.J. prasantham, “counselling is a relationship between the counselor and the counselee characterized by trust and openness, in a one to one, or a small group relationship, whereby the counselee is helped to work through his interpersonal and\ or intra-personal problems and crisis. He is also helped to mobilize his inner and outer resources and to find new options in facing life.”
29. What are the causes of counselling?
1. Conflict
2. Stress
30. What is stress?
Stress is a condition of strain that has a direct bearing on emotions, through processes and physical conditions of a person. When it is excessive, it can threaten one’s ability to cope with the environment. People who are stressed may become nervous and develop chronic worry. They are easily provoked to anger and are unable to relax. Stress also leads to physical disorders, because the internal body system changes to try to cope with stress. The causes of stress can be classified under two heads:
On – the – job stress.
Off – the – job stress
31. What is Pet therapy?
Bringing pets into your life can be rejuvenating. This has been proved by many recent experiments. Company of pets other than humans can have a therapeutic effect on us, especially when we are in the grip of stress.
As human-to-human interactions are often complex and unpredictable, we may not feel relaxed and comfortable in the company of our own species. But, with pets as company, we can be ourselves and enjoy unconditional acceptance from our companions. A pet can be anything from a cat to a fish, or a bird to a tortoise. People are known to keep unusual varieties such as snakes as pets. It is obvious that the selection of pets should be compatible to one's temperament, availability of space at home and lifestyle.
The company of a pet has amazing capability to transport you from the grindings of day-to-day life to a more relaxing and fulfilling existence.
32. What is Diet management?
When the body is in a 'fight or flight' mode the digestive system shuts off temporarily and our appetite is suppressed. The release of adrenaline and cortical help mobilize carbohydrate and fat for quick energy. When that situation is over, the cortical lingers there increasing our appetites in an effort to replace the used up carbohydrate and fat. If the body doesn't react in that survival instinct the lingering hormones tend to create an artificial craving for food. Resulting in overeating and eating the wrong kind of food.
A well-nourished and fit body can be more resilient to stressful conditions. Many illnesses induce stress and stress too induces eating disorders, addiction to alcohol and substance abuses. Hence, a planned and nutritious diet can act as an effective stress-fighting tool. Natural, unprocessed foods and herbal concoctions are proved to be helpful to many stress induced disorders such as disturbed bowel syndrome, digestive malfunction, nerve perturbation and other disease conditions. Again a healthy and disciplined diet habit can help an individual in stress conditions as well as prevent him from falling victim to abusive food habits.
33. What is Transcendental Meditation?
The Transcendental Meditation technique made popular during the 1970s by Maharishi Mahesh Yogi was aimed at ushering in perfect health and happiness. The technique is specifically designed to relieve man of his modern day trappings and the resultant mind-body disorders by helping him to access the boundless cosmic energy field.
The words of Maharishi aptly describe TM: "Transcendental Meditation opens the awareness to the infinite reservoir of energy, creativity, and intelligence that lies deep within everyone."
TM is a simple, natural and effortless procedure practiced for 15-20 minutes in the morning and evening, while sitting comfortably with the eyes closed. During the course of the meditation, the fluctuating mind gradually becomes still and the individual experience a unique state of 'restful alertness'. The body becomes deeply relaxed; the mind transcends all mental activity to experience the simplest, purest and highest form of Consciousness.
Numerous researches on TM in institutes and universities all over the worlds have shown that its practice benefits all areas of an individual's life. The researches claim TM develops the individual's latent creative potential while dissolving accumulated stress and fatigue through the deep rest experienced during practice. This experience enlivens the individual's creativity, dynamism, orderliness, and organizing power, which result in increasing success in daily life.
34. What are the different types of counselling?
There are three forms or types of counseling. They are:
1. Directive Counselling
2. Non – Directive Counselling
3. Participative Counselling or Co-operative Counselling
35. What is Behavioral therapy?
This approach addresses the unusual thoughts, feelings and behavior directly by issuing the sufferer with rewards and by confronting the factors that influence these recurrent thoughts. This therapy does not ignore the past like some other approaches, but does concentrate on the present events which are in control of the sufferer’s behavior
36. What is Humanistic therapy?
Humanistic Counselling became known over 50 years ago and has become an extremely effective approach to counselling. Although behavioral therapy and psychoanalytic methods were available, a Humanistic approach offered sufferers another alternative. This type of counselling focuses on recognizing human capabilities in areas such as creativity, personal growth and choice.
37. State any 2 draw backs of counselling?
Counselling may help an employee for better adjustment with his superior but it does not improve the working environment.
Counselling attempts to change individual attitudes and behavior, this does not last in the long run.
UNIT-IV - INNOVATION
1. What is innovation?
The term innovation may refer to both radical and incremental changes in thinking, in things, in processes or in services (McKeon, 2008). Invention that gets out in to the world is innovation. In many fields, something new must be substantially different to be innovative, not an insignificant change, e.g., in the arts, economics, business and government policy. In economics the change must increase value, customer value, or producer value. The goal of innovation is positive change, to make someone or something better. Innovation leading to increased productivity is the fundamental source of increasing wealth in an economy.
2. Define the term innovation.
"All innovation begins with creative ideas we define innovation as the successful implementation of creative ideas within an organization. In this view, creativity by individuals and teams is a starting point for innovation; the first is necessary but not sufficient condition for the second
3. State the economic Concepts of innovation.
Joseph Schumpeter defined economic innovation in The Theory of Economic Development, 1934, Harvard University Press, Boston.[2]
1. The introduction of a new good — that is one with which consumers are not yet familiar — or of a new quality of a good.
2. The introduction of a new method of production, which need by no means be founded upon a discovery scientifically new, and can also exist in a new way of handling a commodity commercially.
4. What are the sources of Innovation?
There are several sources of innovation. In the linear model the traditionally recognized source is manufacturer innovation. This is where an agent (person or business) innovates in order to sell the innovation. Another source of innovation, only now becoming widely recognized, is end-user innovation. This is where an agent (person or company) develops an innovation for their own (personal or in-house) use because existing products do not meet their needs. Eric von Hippel has identified end-user innovation as, by far, the most important and critical in his classic book on the subject, Sources of Innovation.[6]
2. Innovation by businesses is achieved in many ways, with much attention now given to formal research and development for "breakthrough innovations." But innovations may be developed by less formal on-the-job modifications of practice, through exchange and combination of professional experience and by many other routes. The more radical and revolutionary innovations tend to emerge from R&D, while more incremental innovations may emerge from practice – but there are many exceptions to each of these trends.
3. Regarding user innovation, rarely user innovators may become entrepreneurs, selling their product, or more often they may choose to trade their innovation in exchange for other innovations. Nowadays, they may also choose to freely reveal their innovations, using methods like open source. In such networks of innovation the creativity of the users or communities of users can further develop technologies and their use.
5. What are the processes of new product Development?
Idea Generation
Idea Screening
Concept Development and Testing
Business Analysis
6. State the Diffusion theory of innovation.
Once innovation occurs, innovations may be spread from the innovator to other individuals and groups. This process has been studied extensively in the scholarly literature from a variety of viewpoints, most notably in Everett Rogers' classic book, The Diffusion of Innovations. However, this 'linear model' of innovation has been substantially challenged by scholars in the last 20 years, and much research has shown that the simple invention-innovation-diffusion model does not do justice to the multilevel, non-linear processes that firms, entrepreneurs and users participate in to create successful and sustainable innovations.
7. What are the different types of Innovation?
Innovation used to be a linear trajectory from new knowledge to new product. Now innovation is neither singular nor linear, but systemic. It arises from complex interactions between many individuals, organizations and their operating environment. Firms which are successful in realizing the full returns from their technologies and innovations are able to match their technological developments with complementary expertise in other areas of their business, such as manufacturing, distribution, human resources, marketing, and customer service.
Innovation is not divisible – ‘good in parts’ is no good at all. Innovation systems are only as strong as their weakest links. "You can't do carpentry if you only have a saw, or only a hammer or you never heard of a pair of pliers. It's when you put all those tools into one kit that you invent," advised Peter Ducke
8. What is Radical Innovation?
Radical Innovations are the situations where a totally new technology comes along and displaces the incumbent technology. Examples are transistor replacing the vacuum tube, compact disc replacing long playing records. These changes are discontinuous, not continuous, and frequently cause significant disruption involving changes in industry leadership.
9. State the objectives of innovation?
One survey across a large number of manufacturing and services organizations found, ranked in decreasing order of popularity that systematic programs of organizational innovation are most frequently driven by:
1. Improved quality
2. Creation of new markets
3. Extension of the product range
4. Reduced labor costs
5. Improved production processes
6. Reduced materials
7. Reduced environmental damage
8. Replacement of products/services
9. Reduced energy consumption
10. Conformance to regulations
These goals vary between improvements to products, processes and services and dispel a popular myth that innovation deals mainly with new product development. Most of the goals could apply to any organization be it a manufacturing facility, marketing firm, hospital or local government.
10. What is value modeling?
The principle of value modeling is illustrated in Figure 2. If the team had an understanding of the relative value of a set of tangible, measurable characteristics of the product or process, and could take a proposed concept and place a gauge against it to measure its score on each characteristic, they would have a good idea of its value. They could readily determine the value of each of its characteristics and thus its total value.
11. What is risk analysis?
As shown in Figure 13, an initial development plan is formulated and the resulting risk portfolio is considered, along with the change in that risk portfolio that would result, if the plan were executed.
Risk involves three additional factors: "time criticality" (when the uncertainty is reduced), dependencies between uncertainties, and severity of adopting fallback plans. Time criticality is a factor affecting uncertainty. It is the mean time, during the span of the relevant portion of the development program, at which the uncertainty is actually reduced. Clearly, if test results show, during the last day of the program, that the fallback plan must be adopted, then there is no choice -- time and budget are both exhausted. However, if test results yield the same result during the first days of the program, there are many options -- people are creative and there is plenty of time and budget to find viable alternatives. The later uncertainty is reduced, the higher the effective uncertainty and, consequently, the risk of failure. Time criticality is a multiplying factor that rises exponentially in time to penalize the late resolution of uncertainty.
12. What is culture clash?
Many problems in creative businesses arise from perceived differences between the 'creative' and the 'suits'. When there is a perceived conflict between creative and commercial interests, the danger is that both sides will defend their positions rather than working out how to work together effectively. This leads to frustration on all sides, and is potentially disastrous for projects. If this process continues unchecked, you risk ending up with creative who spend less of their creative talent on your projects than on daydreaming about moves elsewhere
13. What is fantasy scale?
Working with the fantasy scale students have to give score from 1 to 4 according to the following points:
1. Newness (novelty ) of the idea;
2. Convincing presentation of the idea;
3. The additional knowledge about human nature and human society ;
4. Literature (arts) value;
5. Personal evaluation (depends on how much a specific student liked or disliked this thing)
14. What is meant by Snow ball method?
This method is aimed for development of any fantastic idea. The fantastic idea always is connected with a system changing. This system is connected with other systems. Thus they also are changed and so on. The feedback also is taken into account and this increase the quantity of changes. This quantity grows up like the snow ball. That's why this method is called The Snow Ball Methods. By the way, does not this method remind you of the so-o- technical Extra Effect determination Method? (ref. 6, 8)
15. What is Golden – Fish method?
One of the main characteristics of creative thinking is the ability to see unusual inside of usual and vice versa. Every fantasy (or inventive) situation consists of two parts: real things and fantastic "grain". The aim of the "Golden Fish Method" is to extract this fantastic "grain". In order to do this a fantastic situation is divided step by step into two parts - real and fantastic until it could not be divided any more. This indivisible part is called "fantastic grain". G. Saltshaker gives formula of resolving every fantasy situation:
1. F0= R1 + F1; (R - real , F - fantastic)
2. F1 = R2+ F2; and so on until Fi will be so small that we may not to consider it.
Let's see how does this method works on example of "Story about the golden fish".
"The old man had come to the sea and begins to call the golden fish. The fish got to him and ask by human voice..."
16. What is meant by creative people?
We provide a range of training programmes and a thinking styles profiling tool (HBDI) which are designed to unlock the creative potential of the individuals and teams within your business.
We can deliver any of the Creative People initiatives as independent programmes if you have a specific need in one or more of the areas. Or you can engage us to deliver the full 'Thinking Business' programme which will include the initiatives we recommend as a result of the Audit. Every organization is a 'whole brain' in that all four thinking, learning and communication styles are represented and active within the business
17. What is Team Dynamics?
A team is defined as a group of people working together to achieve some common objective or goals.
18. What are different types of teams?
Quality circles
Focus teams
Process improvement teams
Cross- functional teams
Natural work teams
Self-directed teams
Labor management action teams.
19. State the characteristics of successful teams.
Team composition
Training
Clear objectives
Accountability
Ground rules
Team character
Resources
Sponsor
Trust open communication.
20. What is Attribution?
It is the activity of guesting at a person’s motives behind an opinion or a suggestion when the point made by the person is not understood or when there is a disagreement. Solution is to reaffirm the importance of problem solving method, question whether the opinion is based on data and find the real meaning of the problem.
21. What are the characteristics off effective team?
skills and Role clarity
supportive environment
superodinate goals
Team rewards
22. What are the team’s personal needs?
Whether in fact a person is born a leader or develops skills and abilities to become a leader is open for debate. There are some clear characteristics that are found in good leaders.
23. What is Creative culture?
The Creative Culture element of the 'Thinking Business' model focuses on developing a culture which inspires and empowers original thinking throughout the business.
UNIT –V- TEAM ENVIRONMENT AND RECOGNITION
1. What is gain sharing?
Gain sharing is a financial reward and recognition system that results from improved organizational performance.
2. What is standard output?
(A) standard output, target production may be laid down for the month or a longer period and bonuses are paid if this is achieved and (b) A standard output per – man hour is laid down for a department or for the plant as a whole, and the bonus is paid in proportion to which the actual out put as per man-hour exceeds the standard, the other conditions of work remaining the same.
3. What is Scanlon plan?
This plan was introduced 1973 by Joseph Scanlon a Lecturer at Massachusetts institute of Technology and a trade union leader in a steel mill. The plan was designed to involve the workers in making suggestion for reducing the cost of operation and improving working methods and sharing in the gains of increased productivity.
4. What is Shift premium?
Companies operating second and third shifts, pay a premium to the workers who are required to work during the odd hours shift.
5. What is paid vacation?
Workers in manufacturing, mining and plantations who worked for 240 days during a calendar year are eligible for paid vacation at the rate of one day for every 20 days worked in case of adult workers and at the rate of one day for every 15 days worked in case of child workers.
6. What is a self direct work group?
The Innovative Team is a unique workshop of discovery and skill development. The experience creates the foundational skills necessary for your staff to be contributing members of an energetic and resilient team. The program transforms the way a team communicates, makes decisions, recognizes conflicts and solves problems.
7. What is Decision making?
When team members have an expectation of being allowed to make decisions and then have this taken from them, they very quickly become frustrated and loose trust in those around them. In teams, decisions are often forced by those with stronger voices or with more perceived power (or real power.) This workshop will use a form of consensus based decision-making and work to make this style a Shared Mental Model. Participants will have repeated opportunities to make decisions as a team. They will discover through their own experience how listening to all voices, creating buy-in and moving forward together will end the bad taste of forced decisions and create a tremendous new energy of commitment to the goal
8. What is work Measurement?
Work measurement is essential in order to find out whether a normal individual can perform the work or not. If not, the job has to be redesigned in order to design the job in such a way that normal individual can carry out successfully.
9. What do you understand by merit rating method?
Merit rating as the process of evaluating an employee’s performance on the job. Merit rating is concerned with employee appraisal. It is a systematic and impartial procedure for determining the excellence with which an individual is performing a job.
10. How innovative team creates atmosphere learning?
This experience-based training activity that transfer the learning into both the mind and the body. With the guidance of a skilled facilitator, participants learn to question habitual ways of addressing issues and to experiment with new approaches. The experience creates a common bond that establishes a foundation of trust and commitment among team members.
11. What is Incentive plan?
The term incentives has been used both in the restricted sense of participation and in the widest sense of financial innovation. It has been defined differently by different authors. It is a term which refers to objectives in the external situation whose function is to increase or maintain some already initiated activities, either in duration or in intensity.
12. State the importance of incentive plan.
Halsey plan
Rowan plan
Beadux point plan
Gantt task plan
Co-partnership system.
13. What do you understand by co-partnership system?
This system tries to eliminate friction between capital and labor. Under this system, not only does a worker share in the profits of the undertaking but he also takes part in its control and therefore, shares responsibilities.
ANAND INSTITUTE OF HIGHER TECHNOLOGY
KAZIPATTUR, CHENNAI
QUESTION BANK
HUMAN RESOURCES MANAGEMENT /MC 1625
PART –B SIXTEEN MARK QUESTIONS
UNIT – I – LEADERSHIP
1. Define Leadership. Explain the concepts and principles of Leadership.
2. What are the factors affecting Leadership?
3. Explain the Managerial Grid theory given Blake Mounton.
4. State the characteristics and qualities of leadership.
5. What is leadership? Explain the House path goal theories of leadership.
6. Explain Heresy and Blanchard's Situational Leadership.
7. Explain the transformational Leadership.
8. Explain the transactional Leadership.
9. Distinguish between Transactional and transformational Leadership.
10. State the leader’s Goal and explain the steps involved in leader’s goal.
11. What are the factors affecting Leadership challenge.
12. Explain the leadership conviction.
13. What is Technical leadership? Explain the factors affecting technical leadership given by Professor Rosa Beth Moss Kantar.
14. What is professionalism? State its importance and characteristics of professionalism.
15. Explain the managerial roles of professionalism.
UNIT – I I – MANAGING TECHNICAL AND PROFESSIONAL PEOPLE
16. What is HCM? State the factors of HCM.
17. Explain the Goal of Scientists and Engineers.
18. State the pitfalls in making performance Appraisals.
19. What is a work assignment? Explain the contents and types of work assignment.
20. What is Expatriate Manager? Explain the different types expatriate managers given by Reyer Swaak.
21. What is Need for Influence? Briefly explain the people management skills , roles and levels.
22. Define Motivation. Explain the motivation process.
23. What is motivation? Explain the Maslow’s hierarchy of needs.
24. Explain the two –factor theory of motivation.
25. “Theory X and Theory y are concerned with the nature of people.” How does the job satisfaction affect the application of this theory? What are its implications?
26. What are the various elements in porter Lawler model of motivation? What are the implications of these elements in motivating a person?
27. What is performance management? Explain the different methods of Performance management.
28. Define career planning. How people choose career?
29. Explain the process of career planning.
30. Explain the theories of career planning.
31. What is professional discipline? Explain the principles of professional discipline.
32. What is the manager’s role in professional discipline?
UNIT-III-IDENTIFICATION AND DEVELOPMENT OF TALENTED PEOPLE
33. Define Talent Management. State the importance of Talent management.
34. What are the principles of Talent management?
35. How does an organization effectively manage Talent?
36. Explain the process of Talent management?
37. Explain the characteristics of Talent Management?
38. What are the seven management practices in talent management?
39. Explain the talent management Frame work.
40. What is compensation management? Explain the different types of compensation management?
41. Explain the approaches of Talent management.
42. Define Talent Development. State its scope, principles of talent development.
43. Explain the methods of talent development.
44. What is Executive Development? Explain the methods of training and Development.
45. What are the factors affecting talent development?
46. What is meant by role playing? Explain the different types.
47. Explain the process of talent development.
48. What is counseling? State its characteristics and needs for counseling.
49. Explain the causes of counseling.
50. What is stress? Explain the methods of Stress.
51. Explain the functions of counseling.
52. What are the different types of counseling? State its draw backs.
UNIT-IV - INNOVATION
53. Define innovation. Explain the sources of innovations
54. Explain the different types of innovation.
55. Explain the diffusion theory of innovation.
56. Explain the process of innovation.
57. What is creativity? Explain the characteristics of creativity.
58. What is team dynamics? Explain the different types of teams.
59. What are the steps involved in team dynamics?
60. What is team development? Explain the software development example.
61. Explain the managers Responsibility of Teams.
62. What are the seven personal qualities found in good team’s personal needs?
63. What is Team synergism? Explain the characteristics of Team synergism?
64. What are the characteristics of an effective team? Discuss, briefly, the factors which determine team effectiveness.
65. Team creation is a long drawn process and many things have to be analyzed before creating teams. In the light of this statement, discuss the steps involved in team creation process.
UNIT-V - TEAM ENVIRONMENT AND RECOGNITION
66. Explain Innovative team environment.
67. What do you mean by intrinstric reward? How does it differ from extrinsic reward?
68. What do you mean by incentive? How is it important in motivating people in the organization?
69. “Non financial incentives are as strong motivators as financial ones.” Critically examine this statement and discuss various non- financial incentives and their role in motivation.
70. What is Award plan? What are the guidelines of Award plans?
71. What is empowerment? How does it affect work performance? How can empowerment be made effective?
72. “Job evaluation does not usually price jobs” discuss.
73. What is job evaluation? Explain the objectives of job evaluation. How do you prepare the ground for evaluating jobs?
74 .Briefly outline the purpose of a pay commission. How is it constituted? Critically examine the recommendations of the four central pay commissions.
75. “Fringe Benefits serve as golden hand- cuffs”- Discuss.
Subscribe to:
Posts (Atom)