 To produce goods & services of the right quality

available to the right people at the right time & place

at a reasonable price.
 To ensure advertisement statements issued by the
business are true & fair.
ETHICS:-Ethics means set of rules & regulation or
principle that a person should follow & in the term
business ethics, it is the organization which should
follow these rules & regulation.
In the organization business ethics are based on the
creation of human mind, that is why ethics depends on
the place, time & situation.
ETHICAL PRINCIPLE :-In business from an Indian
prospective.
1) Integrity:-Profit maximization working with the
employees(Team work)
2) Loyalty:-Gaining Trust
3) Honesty
4) Respect & Concerned
5) Fairness
6) Leadership
Control:-It is the process that measure current
performance & guides it towards some predetermined
objectives.
Definition by E.F.L Breach:-Control is the process of
checking actual performance against the agreed
standards or plan with our view to ensure adequate
progress & satisfactory performance.
Definition by Koontz & Weihrich:-The managerial
function of controlling is the measurement & the
correction of the performance in order to make sure the
enterprise objectives & plans derived to attain them are
accomplished.
CHARACTERISTICS
1) Pervasive function(Universal)
2) Review of past events:-Control leads to appraisal of
past activities, thus it is looking back
3) Forward looking:- Control is linked with future, as we
know past can’t be changed
4) Action oriented:-Corrective action regarding
performance
5) Continuous process
BENEFITS
1) Helps in decision making
2) Helps in better planning
3) Effective supervision
LIMITATIONS
1) An enterprise cannot control external factors(Political,
Legal, Environmental, Societal, Technological)
2) Expensive by nature because it requires more time &
efforts
3) The effectiveness of control mainly depends upon the
acceptance of the sub-ordinates or employees
US MANAGEMENT APPROACH
1) It is primarily short term oriented.
2) Individual decision making.
3) Decisions are initiated at the top & flow down.
4) Fast decision making, slow implementation requiring
compromise which often resulting in sub-optimal.
JAPANESE MANAGEMENT APPROACH
1) Long term orientation.
2) Collective decision making.
3) Decision flow from bottom to up & back.
4) Slow decision making, fast implementation of the
decision.
CHINESE MANAGEMENT APPROACH
1) Long & short term orientation (5year plan & 1 year
plan).
2) Decision making by committees.
3) Top down participation at lower levels.
4) Top down initiated at the top.
5) Slow decision making, slow implementation (now
changing).
QUES-What do you mean by corporate social
responsibility
ANS-Corporate social responsibility in self regulating
business model that helps a company be socially
accountable to itself, it stakeholders and the public. By
practicing corporate social responsibility also called
corporate citizenship. Companies can be conscious of the
kind of impact, they are having on all aspects of society
including economics, social & environment.
To engage in corporate social responsibility means that in
ordinary course of business, a company is operating in
ways that enhance society and the environment instead
of contributing negatively to them.
QUES-What kinds of ethics can be followed in business?
ANS-12 ethical principle for business executive:-
1) Honesty
2) Integrity
3) Loyalty
4) Promise:-Keeping & trust worthies
5) Fairness
6) Concern for others
7) Respect for others
8) Law
9) Commitment for excellence
10) Leadership
11) Reputation & morale
12) Accountability
QUES-What are the recent issues in the business?
Ans-The 10 biggest challenges business face today and
need for consultants are:-
1) Uncertainty about future:-Being able to predict
customer trends market etc is vital to a changing
economic climate.
2) Financial Management:-Many CEO’s are great at big
pictures and disruptive thinking but less good with
things like cash flow, profit managing, reducing cost,
financing etc. Small and medium business may not
require full time CEO but could do better to
employee a financial consultant who can step into
the role as needed.
3) Monitoring performance:-Using a meaning set of
rounded performance indicators that provide the
business within insight about low well it is
performing in a key.
4) Regulation and compliances:-As the market &
technology shift, so do rules & regulations.
5) Competencies & recruiting right talent:-Again a
small or medium sized business might not used full
time human resource or recruiting staff but during
peak growth periods, finding the right people.
Developing a right skill & competencies in a key to a
sustainable future.
6) Technology:-As technologies change practically at
the speed of light, it’s vital for companies to
innovate or be left behind — but many CEOs started
their careers and businesses before many of these
technologies even existed! Consultants can be vital
for integrating new technologies, in particular
mobile, app development, and cloud computing.
7) Exploding data:- Data your company produces needs
to be in the hands of a qualified professional who
can help you get the most return from that data.
8) Customer service:-In a world of instant gratification,
customers expect instant customer service — and
can take to the web to share their displeasure at less
than satisfactory service just as quickly. Consultants
can find ways to improve customer service and bring
it into the 21st century.
9) Maintaining reputation:- Businesses have to monitor
and maintain their online reputations. And while it’s
an important task, it’s one best suited to a third
party who can monitor and mediate with a certain
amount of distance.
 10) Knowing when to embrace change:-Consultants
can help CEOs determine when to embrace change
and when to stay the course
America is one of the most advanced nations of the
world. America is infact, leader in modern
management techniques. The economy of America is a
free economy and people lead their lives freely
without much social checks and barriers.
AMERICAN APPROACH TO MANAGEMENT
America is one of the most advanced nations of the
world. America is infact, leader in modern management
techniques. The economy of America is a free economy
and people lead their lives freely without much social
checks and barriers.
They want to lead independent life and are accustomed
to the ‘hire and fire’ style of management. Employment
on contract basis started in America, which is being
followed by other countries of the world.
Main Features of American Management System:
1) Process of decision making is quite fast and it is
undertaken on individual basis. Decisions are taken at
 different levels of management by the people or
superiors operating at these levels.
2) The system adheres to bureaucratic and formal
organisational structure with the specific line of
individual responsibility and accountability.
3) American companies meet their manpower
requirements usually by conducting campus interviews
and inviting people working in other companies. It is
helpful in developing a culture of frequent hopping.
JAPANESE BUSINESS MANAGEMENT STYLE
Japanese management is called omikoshi management.
Omikoshi refers to the young men who carry the
portable shrine in festival parades. It is impossible to
identify the leader or those who are, or are not, carrying
their fair load. Thus, all are anonymous contributors to
the group. Japanese management has the responsibility
to create a harmonious environment in which each
member of the group effectively contributes to group
goals. Japanese feel that the nail that sticks up must be
hammered down.
The relationship between organizations and people is
basically different in Japan when compared with western
countries. In the West, the minimum unit within the
organization is considered the “job” and individuals
relate to the organization by performing their “jobs.” For
that reason, job analysis is essential and job descriptions
are adhered to by employees who actually perform the
jobs. In the hiring procedure, serious consideration is
given to matching an applicant’s aptitude with an
employer’s job requirements. On the other hand, in
Japanese organizations, the minimum unit is considered
a “person.” The relationship between people and
organizations is very direct and organizations believe that
these “people” create their jobs instead of the
organizations offering them “job descriptions.” Thus, the
sphere of job requirements may change according to the
people who perform the jobs. This may be a unique
characteristic. Thus, Japanese management does not
emphasize the importance of preparing job analysis,
descriptions, and requirements.
CHINESE BUSINESS MANAGEMENT STYLE
China Inc. might appear to be an improbable source of
fresh management thinking. Its state-owned enterprises
are, for the most part, regulated giants that are
experimenting with Western management practices.
China has yet to produce a world-class company like GE
or Samsung, and outside the country most of its
businesspeople are better known for amassing wealth
than for innovative management ideas. Yet China offers
more management lessons today than do most other
countries.
Chinese companies have learned to manage differently
over the past 30 years because they’ve had to cope with
a turbulent environment. What’s commonly perceived to
be the highly controlled march of state capitalism is in
reality an enormous and quickly evolving ecosystem, in
which companies must scramble to keep pace with
runaway growth and dramatic slowdowns, massive
urbanization and huge rural markets, fierce competition
and endemic corruption.
INDIAN MANAGEMENT STYLE
The Indian management style may come off as firm and
established, but some experts (many of them Indians
themselves) believe that the country is yet to find its
distinct style. Especially that the culture appears to be
changing, determining a single, unique style may be
difficult. Today, more and more Indian students take up
the management courses Hemsley Fraser and other
Western educators offer.
Managers in India are regarded as strict bosses and
implementers. The image of being stern is something
that is attached to the whole business culture of India. As
a matter of fact, managers must stick to this image at all
times. Without the authoritative air, they cannot demand
for respect, which is vital in the Indian work dynamic.
Because of this traditional setup, subordinates tend to
pay high respect to their managers. This respect is then
reflected by their prevalent work behavior, which is
characterized by total submission. In India, subordinates
do nothing but follow their manager's instructions
explicitly, even when orders are vague or incorrect.
QUES-What is Leadership?
ANS- Leadership is the art of motivating a group of
people to act toward achieving a common goal. In a
business setting, this can mean directing workers and
colleagues with a strategy to meet the company's needs.
This leadership definition captures the essentials of being
able and prepared to inspire others. Effective leadership
is based upon ideas (whether original or borrowed), but
won't happen unless those ideas can be communicated
to others in a way that engages them enough to act as
the leader wants them to act.
VARIOUS TYPES OF LEADERSHIP
1) AUTOCRATIC LEADERSHIP:- Autocratic Leadership
relies on coercion, and its style is paternalism,
arbitrariness, command, and compliance. The
autocratic leader gives orders which must be obeyed
by the subordinates.
Determines policies for the group without consulting
them and does not give detailed information about
plans, but simply tells the group what immediate
steps they must take.
2) DEMOCRATIC LEADERSHIP:- The style of leadership
that uses legitimate power can be classified as
democratic leadership.
A democratic leader usually gives instructions only
after consulting with the group.
He sees to it that policies are worked out in group
discussion and with the acceptance of the group.
That means democratic leadership solicits employees’
participation and respects their opinions.
THEORIES OF LEADERSHIP
1) TRAIT THEORY:- The trait theory of leadership states
that certain natural qualities tend to create good
leaders. Having certain qualities does not necessarily
mean someone has strong leadership skills,
however. Some leaders may be excellent listeners or
communicators, but not every listener or
communicator makes an excellent leader.
2) BEHAVIOUR THEORY:- The behavior theory of
leadership focuses on how a person’s environment,
not natural abilities, forms him or her into a leader.
One of the key concepts of behavioral theory is
conditioning. Conditioning states that a person will
be more likely to act or lead in a certain style as a
result of environmental responses to behavior.
3) SITUATIONAL THEORY:-The situational theory of
leadership does not relate to a certain type of leader
or claim that any one style is best. Instead,
situational theory argues that the best kind of leader
is one who is able to adapt her style based on the
situation. They may respond to a situation by
commanding, coaching, persuading, participating,
delegating or however they think is necessary.
Situational leaders are defined by their flexibility.