Home
Class 12
BUSINESS STUDIES
Max Power Ltd wants to expand its busine...

Max Power Ltd wants to expand its business. It is planning to establish four new power plants. Suggest which process is suitable and why?

Text Solution

Verified by Experts

The steps involved in the process of management which should be followed by Max Power Ltd are:
(i) Planning In this step, an organisation plans everything before action. This step helps in determining objective, forecasting and formulation of policies
(ii) Organising Once the plans are formulated in an organisation, the next step is organising which means providing all necessary things for its functioning-raw materials, tools, capital, personnel, etc
(iii) Staffing In this step, right person is placed at the right job according to the need of work force which is required to achieve the organisational goals.
(iv) Directing At this stage, actual work is started as it implies initiating or instructing employees to act.
(v) Controlling This step helps in binding the efforts at every step. It ensures that the organisation is moving on the right track to achieve its goal.
The various functions of manager are usually performed in the order given above, suggesting that a manager first plans. In reality, managers are rarely able to carry out these functions in isolation The activities are interrelated and it is often difficult to pinpoint where one ended and the other began. e.g. While performing the staffing function, HR Managers have to plan for the future manpower requirements, recruitment, selection, etc, all at the same time Thus, management functions are continuous and interrelated, with no predetermined sequence
Promotional Banner

Topper's Solved these Questions

  • NATURE AND SIGNIFICANCE OF MANAGEMENT

    ARIHANT PUBLICATION|Exercise NCERT FOLDER (CASE PROBLEMS)|3 Videos
  • NATURE AND SIGNIFICANCE OF MANAGEMENT

    ARIHANT PUBLICATION|Exercise CHAPTER PRACTICE (MULTIPLE CHOICE )|15 Videos
  • NATURE AND SIGNIFICANCE OF MANAGEMENT

    ARIHANT PUBLICATION|Exercise NCERT FOLDER (SHORT ANSWER)|9 Videos
  • MARKETING MANAGEMENT

    ARIHANT PUBLICATION|Exercise CBSE Examinations archive|36 Videos
  • ORGANISING

    ARIHANT PUBLICATION|Exercise CBSE Examinations Archive (Long Anwer Type Questions)|15 Videos

Similar Questions

Explore conceptually related problems

Shreyskar runs a locks manufacturing factory. He wants to expand his business. For this he wanted to enter into the manufacturing of locks for cars as an ancillary company. By doing this his company will be able to provide many products to car manufacturers. Which type of organisational structure will he choose for his factory and why ? State any five advantages of this organisational structure.

Which of the following is not a consequence of establishing hydroelectric power plants ?

Bhuvan & Co. are running a shoe manufacturing company successfully. So they planned to expand their business activities by adding more line of products, i.e., leather bags, belts and garments. Which type of structure would you recommend after expansion and why?

Shri Ltd'. Was carrying on a business of packaging in Delhi and earned good profits in the past years. The company wanted to expand its business and required additional funds. To meet its requirements the company issued equity shares of Rs. 30,00,000. It purchased a computerised machine for Rs. 20,00,000. It also purchased raw material amounting to Rs. 2,00,000. During the current year, the Net Profit of the company was Rs. 15,00,000. Find out 'Cash flow from Operating Activities' from the above transactions.