Essentials of management june 2021

1. Essentials of Management
June 2021 Examination
1. It is observed that all organizations operate at different life stages with different
practices and different expectations. Given that business can be classified as
multifaceted and multifold due to various functions of Management they need for
performance, select any business of your choice to describe its journey based on:
a. Commencement of business thought
b. Barriers faced
c. Principles and philosophy that helped in building the business
d. Decisions that helped them grow
e. Lessons learnt.
Answer 1.
INTRODUCTION
Management is a concept that involves the use of different business resources to accomplish
desired goals. Managers aim towards using such resources with better efficiency and
effectiveness. Efficiency refers to the minimum use of available resources like people, time,
materials, and energy. On the other hand, it is to achieve organizational goals. A responsible
manager easily achieves business goals through efficiency and effectiveness with evident
knowledge and differentiation between the two criteria. Management and various other
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2. Explain the levels of "Corporate Culture" and its impact on organizational growth by
using a suitable example, The Lego Group. (10 Marks)
Answer 2.
Introduction
Corporate culture refers to certain beliefs that every organization aims to follow. These are
specific sets of behaviours that an organization desires its employees, and overall management

3. carries out its various operations and business transactions. From a general perspective, corporate
culture is defined through multiple cultures and traditions, beliefs, economic trends, and overall
3. Due to the Covid 19 crisis. Organizations have become more technology-driven. What do
you think is more important– the Management of the organization's human element or the
Management of technology? Discuss (5*2 = 10 Marks)
Answer 3a.
Introduction:
Both human resources and technology are indispensable for any business organization. They
delivered necessary benefits and ensured the long-term functionality of an organization. The
human resource, i.e. employees, are the individuals who make sure critical operations of an
organization are conducted on time and with better efficiency. Effective management of human
resources, therefore, becomes essential as productivity depends upon the same.
Ans 3b.
Introduction:
Technology in the form of dedicated solutions also proves indispensable for a business
organization. Every type of enterprise engaged in the production of traditional components or
delivery of services has realized the potential of technology and how it can benefit its operations.
The current Covid crisis enabled organizations to understand the success technology delivers for