MBA Ist Semester International Perspective Very Short Questions Answers Study Material notes Sample Papers Notes 3 mock papers for self-assessment knowledge Boosters to illuminate the learning.
MBA Ist Semester International Perspective Very Short Questions Answers
VERY SHORT ANSWER QUESTIONS
Q.1. What is the purpose of contemporary management?
Ans. Contemporary management is a set of theories that are developed at present and properly applied in order to achieve organizational goals. Contemporary issues on management provide basics on the effectiveness of work-life of individuals and groups who work at different situations in a competitive world environment.
Q.2. What are the contemporary issues of management?
Ans. Contemporary issues of management refer to management tools that are practiced by today’s managers and business organizations. This is a topmost aspect of management as well as business organizations. There are some basic issues of contemporary management like total quality management, e-commerce, human resources management, project management, and globalization.
Q.3. What are the issues in contemporary management?
Ans. The issues or challenges in contemporary management are:
1. Economic pressure.
5. Customer service.
6. Employee satisfaction.
7. Organization ethics.
8. Social responsibility.
9. Pressure from world organizations.
Q.4. What do you mean by benchmarking?
Ans. Benchmarking is a process of introspection and searches for best practices in production, R&D. inventory management, TQM, marketing and distribution, finance, human resource, and the general management practices. It is a method of improvement and a way to make structured changes
Q.5. What are the objectives of benchmarking?
Ans. The objectives of benchmarking are:
1. To determine what and where improvements are called for.
2. To analyse how other organisations achieve their high performance levels
3. To use this information for improving performance.
Q.6. What are the key steps in benchmarking process?
Ans. The process of benchmarking involves four key steps:
1. Understand in detail existing business process.
2. Analyse the business processes of others.
3. Compare own business performance with that of others analysed.
4. Implement the steps necessary to close the performance gap.
Q.7. What are the different types of benchmarking?
Ans. The different types of benchmarking are:
1. Strategic benchmarking.
2. Performance or competitive benchmarking.
3. Process benchmarking.
4. Functional benchmarking.
5. Internal benchmarking
6. External benchmarking.
7. International benchmarking.
Q.8. What is the use of performance or competitive benchmarking?
Ans. Performance or competitive benchmarking is used when businesses wish to consider their position in relation to performance characteristics of key products and services.
Q.9. What do you mean by total quality?
Ans. Total quality refers to the fact involved in achieving quality according to som he organisation, through individual and the collective actions, focuses on meeting cus lowest cost, first time and every time and hence recognising that it is the customer’s perception that identifies quality.
0.10. What is total quality management?
Ans. Total quality management is a philosophy gradually evolved from the managemen like management by objective, quality circles, strategic planning, etc. TQM portrays ar review for quality management. It builds on the idea that an organisation is an interactive net communication and control.
Q.11. What are the primary elements of TQM?
Ans. The eight principles or primary elements of TQM are:
1. Customer focused.
2. Total employee involvement.
3. Process centered.
4. Integrated system.
5. Strategic and systematic approach.
6. Continual improvement.
7. Fact based decision-making.
Q.12. What are the various models of TQM?
Ans. The various models of total quality management are:
1. Deming application prize.
2. Malcolm Balridge Criteria for performance excellence.
3. European foundation for quality management.
4. ISO quality management standards.
Q.13. What is Kalzen?
Ans. Kaizen is a Japanese term meaning ‘Change for the better. The concept of Kaizen encompasses it involves making the work environment more efficient and effective by creating a wide range of ideas, it involves making the a team atmosphere, improving every day procedures, ensuring employee satisfaction and making a job more fulfilling, less tiring and safer.
6.14. What is the concept of six sigma?
Ans. Six sigma is the most widely used methodology for improving process performans and is increasingly becoming popular as a way of organizing and entire organization to become more customer focused and more quality oriented It is a vision of quality that equtes with only 3.4 defects per million opportunities for each product or service transation and strives for perfection
Q.15. What Is 5S methodology?
Ans. 5S methodology is the name of a work place organisation method that uses a list of five Japanese words-Seiri, Seiton, seiso, Seiketsu and Shitsuke. This list describes how to organize a workspace for efficiency and effectiveness by identifying and storing the terms used, maintaining the area and items and sustaining the new order.