UGC NTA NET/JRF Exam, Management, December-2021/June-2022

The problems commonly associated with the scientific management is that the managers often implement only the increased output part of the plan and jobs becomes over simplified and repetitive often replaced by new technology.
• Frederick Taylor is called the father of scientific management.
• Scientific management refers to the application of science in all the components of management. It consists of methods, procedures, scientific, tools to increase the output of the organisation.

Making choices while thinking logically is called rational decision-making.
• To achieve the desired outcomes, rational decision-making frequently employs a method or procedure.
• When making decisions rational decision-making prioritizes logic over emotion.
• The assumption of rational decision making are:
- Problems is clear and unambiguous.
- No time or cost constraint exist.
- Final choice will maximize payoff.

The efficacy of written communication depends upon:-
-Editing after writing.
- Brevity in sentences.
- Effective use of words.
• The five 'C's of effective communication serve as a good reminder of how to communicate effectively in written form. Which are as conversational, clear, concise, connected and correct.

Geocentric approach is an approach of managing international operations in which nationality is down-played and the firm actively searches on worldwide or regional basis for the best people to fill key positions.
• In ethnocentric approach, firm employ individuals from its parent nation to fill position all over the world as part of its ethnocentric recruitment strategy.
• In polycentric approach, the nationals of the host country are recruited for the managerial positions of the company.

The examples of need for status according to FRED LUTHANS is :-
- Having executive privileges.
- Working for the right company in the right job
- Living in the right neighborhood.
- Having the right car and wearing the right clothes.
- Having a degree from the right university.
Where as being in a position of authority over others is the examples of need for power and participating in pleasant social activities is the example of Need for Affiliation.

Talent management is a process that involves attracting and retaining employees that are talented, and willing.
This HR process also includes some other factor i.e. planning recruiting, selecting, Development and retention of employees.
• Talent management starts with the identification of the skilled people required for the organisation and selection of people with requisite potentials, After identification and selection of the right kind of people. Talent management implements competitive compensation for the employees. The selected employees are provided with training so as to match the emerging requirements of the organization.

According to French & Bell- "Organizational Development Intervention are a set of structured activities in which selected organizational units (target groups of individuals) engage in a task or sequence of tasks with the goals of organizational improvement and individual development.
• Reorganization, work review and MBO are relevant organizational development (OD) interventions if the nature of intervention is structured.

The following are the technologies that fast changing the accounting ecosystems.
• Block chain technology- It is a decentralized ledger of all transactions, across a peer to peer network. Using this technology, participants can confirm transactions without the need for a central certifying authority.
• Cloud computing- By using this technology, Accounting data can be accessed from anywhere on any device with an internet connection. It can updates financial information automatically and provides financial reporting in real-time.
• Machine Learning- It is used to analyze data to define or refine data models used for forecasting. The accounting processes such as expense reports accounts payable, and risk assessment may be easily automated using ML.

The underlying assumptions of cost volume profit (CVP) analysis are as follows:-
• Number of units produced and sold are equal.
• Sales price and sales mix remain constant.
• Total fixed costs and variable cost per unit are |constant.
• Time value of money is ignored.
• Revenue and cost functions are linear.
CVP is an analysis presenting the impact of cost and volume on profits. It helps in analyzing the effects of change in SP or sales volume or sales mix or fixed costs on the profits of the firm.

Following are the activities enable managers to do a better job of managing while preparing a budget.
• Advance warning of and assignment of responsibility for conditions that require corrective action.
• Co-ordination of activities among all departments within the organization.
• Creation of standards for evaluating performance.