Management Theory PDF

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ANSWER-1

SWOT stands for


S→ Strengths
W →Weakness
O→ opportunities
T →Threats
and FMCG stands for Fast Moving Consumer Product

Environment of an organization is divided into two i.e., Internal environment and external
environment. Internal environment includes strengths and weakness and external includes
opportunities and threats.
Now let’s do SWOT Analysis of Britannia company.
First, SWOT Analysis a technique that enable a group or individual to move from everyday
problems and tradition strategies to a fresh prospective.

STRENGHTS WEAKNESS

THREATS OPPURTUNITIES

Strength→ It is an internal factor of organization that helps to chase objectives. The Indian
company has strength of knowledge.
Britannia’s strengths are –
 It has a major share in biscuits industry.
 They do their marketing and advertisement in an efficiency way.
 It is a strong presence in rural markets.
 Products for all food and snacks segments is a big boon for Britannia.
 It has innovative products like health concious people like oats, Britannia Nutri choice
biscuits for diabetes patients, vita Marie Gold etc.
 It has a goodwill/good name in the market.
2. Weakness→ In simple words, it has negative aspects and brings strategic disadvantages
for an organization.
Britannia has some weakness also that is,

 It has lower market share in dairy segment.


 Similar products produced by many companies means high brand switching.
 It incurs heavy expenditure on marketing and advertisement.
3. Opportunities→ It is an uncontrollable external event that favorable for an organization
and may raise the position of the organization.
Now let’s check the opportunities of Britannia –
 The company extend their business in other countries.
 It can product more snacks in different flavors.
 Increase its share in the dairy industry.
 Increase in purchasing power of people in India.
4. Threats→ It is a condition which can damage the strengths and opportunities of the
organizations.
Following are the threats of Britannia –
 Rise in cost of raw material.
 The local diary and bakeries can cause business losses.
 Inflation can cause fall in sales and revenue.
 Lower price offering by the competitors can affect the Britannia’s market share.
 Conclusion→ Britannia can overcome from all these threats because it has power or
strengths.
ANSWER-2
Introduction-
JIT and Lean production
 Jit stands for Just in Time. It aims to ensure that inputs into the production
process only arrives when they are needed. The main aim of Jit is
 Estimation of waste in production and
 Improved productivity

 Lean Production- It is a methodology focus on cutting down the wastage in


manufacturing systems. (Waste means activities that do not add value to the
production process). But it is not only about reducing waste, the principle of lean
production is also focused on increasing efficiency and improving quality.
Now, as a consultant of MG Motors, I will explain the Jit and lean production.
As they are facing problems related to wastage in their production, they should
adopt just in time production method, that means, when the product is required
in market, they company will produce or we can say, no storage or less storage of
product. Explanation of how does JIT work?

I. Firstly, customer orders determine what to produced and how much to produced.
II. It requires complex complex production scheduling-
III. Supplies delivered to production only line when needed.
Now, let’s come to lean production.
Thought lean manufacturing system, the company MG Motors will remove all the
wastage that do not add value to the production process will be eliminated. In
simple words, ‘less is better’ is adopted to produce goods on demand only.
 Comparison between JIT and Lean production
Just in time Lean Production
I. JIT is used to express process Lean aims at eliminating the
problems Problem.
II. It reduces inventory It reduces waste
III. Productivity and quality will Efficiency will increase and
improve while the waste will customer will be more satisfied.
reduce
IV. Just in time creator an JIT deal with increasing the
organization which works as per efficiency while lean manufacturing
the market responsiveness in a deal with utilizing this efficiency to
most efficient and effective increase value for the customer
manner.

 Important development in management


The management philosophies that have changed the business environment to
large extent are following: -
i. SS→ It is a technique which is used in organization to reduce or eliminate
waste. The SS includes
→ Sort→ In simple words, organization of working area and elimination of
unnecessary items from work area.
→ Straighten→ It includes all the arrangements required items in an accessible
Range for uses and substitutes too.
→ Shine→ It is related with cleanliness cleanliness of machines, equipment and
tools. Clean items facilities the use of work area on time.

→Standardize→ This focuses on the workstation that include in some type of job
should be similar. It avoids the chances of conclusion.

→Sustain→ It refer to containing the process of improvement.

ii. Six Sigma→ This is developed for improving process. In the process of six
sigma, 99.96% of the products manufacture are statistically expected to be
free of defects. In other words, this is a technique that lays emphasis on
measuring the quality to attain perfection.

Conclusion→ MG Motors can overcome from the problems by adopting


Just in time and loan product as so as possible.
ANSWER-3(A)

The forces which have had on impact on the business are


Political Forces
Economic Forces
Social Forces
During this pandemic, tremendous changes have taken place.
Now, the explanation of the forces.

1) Political forces→ Some new government rules come into force


during this pandemic like social distancing, stay quarantine if
you have any symptom of covid+ marks, and a long period of
lockdown. So, the hotel (lemon tree) has to take care of social
distancing of consumers, more hygiene and etc.

2) Economic forces→ The economy of India gone very down


during pandemic. Everything was closed hotels, companies,
shops, factories etc. Only essential goods and services were
distributed.

3) Social Forces→ The forces related to society and people are


social forces. It includes contracts, mutual understanding and
interaction between organization and their labor, creditors,
investors and consumer. But during pandemic no one can
interact with each other. Investor does not want to invest
because they knew they will not get any profit. Even people
decide not to go anywhere for anything due to safety reasons.

Conclusion→ Lemon tree a premium hotel chain had suffered


tremendous loss due to covid-19 and lockdown. Political or
government regulation are goods in some way but also worse in
some way.
Many of us had lost our jobs and family members due to covid.
ANSWER-3 (B)
Modern Approach→ This approach was given in 1950s. and it is related
with employee’s satisfaction. It can be said that employees are like an
classification of modern approach: -

Quantitative
Quantitative
approach

System Contigency

Contigency approacg
System Approach
Approach
Approach Approach

Quantitative Approach→ It focus on managerial decision making, which are


taken on the basis of problems/situations. This is studies under three areas: -
 Operation research → It’s based on improving the effectiveness of
management decision with use of advanced techniques.
 Operation management→ There management that involves in supervision
and controlling the production process.
 MIS→ MIS stands for management information system. It is an computerized
management system which provide information for the effective
management.

i.) System approach → This approach is developed to solve the management problems. It
includes asset a component that interact regularly.
ii.) Contingency approach→ This is also called situations approach. According to this
approach management of the organization have to analysis the problems or situation to take
effective decision. So, in this pandemic, the hotel management have taken decision like if the
number of customers are increasing you have to hire more staff and if there is reduction in
number of customers which actually happened in pandemic, the management have to cut-off
in number of staff and have to make proper arrangement of sanitization and hygiene.

Conclusion→ The hotel Lemon tree’s management have to take proper analysis of situation
and problems to make effective decision.

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