PREVIOUS YEAR SOLVED PAPERS - November 2017
- Option : D
- Explanation : Professor Drucker regards management as an
economic organ which determines how well
or ill an enterprise fulfils its essential function:
economic performance. His basic assumption
is that in determining the economic
performance of an enterprise, the manager can
improve his performance through the
systematic study of principles, the acquisition
of organized knowledge, and the systematic
analysis of his own performance. This impact
of the manager on modern society is so great
“as to require of him the self-discipline and
the high standards of public service of a true
professional.”
Within the economic realm, Drucker’s view of management requires than mere passive adaptation to changing conditions. “It is management’s specific job,” he says, “to make what is desirable first possible and then actual. Management is not just a creature of the economy; it is a creator as well.”
Since management’s job is to make a productive enterprise out of men and materials, it accomplishes its mission by managing managers, who will be effective in fulfilling the two major functions of any business enterprise: to create customers and to innovate. These, according to Drucker are the two entrepreneurial functions.
23. Who among the following is not associated with theories of motivation?
- Option : D
- Explanation : Peter F. Drucker, a management consultant and professor of management has written a number of books on managerial topics like, The Practice of Management (1954), The End of Economic Man (1939), The Future of Industrial Man, The Concept of Corporation, Economic Tasks and Risk Taking Decisions etc. He is also called as Father of Modern Management.
Peter Drucker is against bureaucratic management instead he has emphasized creative and innovative management. He has treated management both as discipline and profession. He sees management through its tasks. Drucker stresses the setting up of objectives for each member of organisation, the distribution of all necessary information to each member so that he can make his own change with a view to meet his objectives, and the self control of each unit in the organisation. According to him, control, as domination of a superior over a subordinate is inappropriate in management. He is regarded as a father of ‘management by objectives (MBO) Technique’ which has revolutionalised the management process. Drucker’s MBO philosophy includes method of planning, setting standards, appraisal of performance and motivation. It applies to every manager, whatever his level of function and to any business enterprise whether large or small. It ensures performance by converting objective needs into personal goals.
- Option : B
- Explanation : Herzberg’s Motivation-Hygiene Theory
Motivators
∎ Achievement
∎ Recognition
∎ Work itself
∎ Responsibility
∎ Advancement
∎ Growth
Hygiene Factors
∎ Supervision
∎ Company Policy
∎ Relationship with Supervisor
∎ Working Conditions
∎ Salary
∎ Relationship with Peers
∎ Personal Life
∎ Relationship with Subordinates
∎ Status
∎ Security.
- Option : C
- Explanation : Marketing people are involved in 10 types of entities: goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.
Experiences: By orchestrating several services and goods, a firm can create, stage and market experiences. Walt Disney World’s Magic Kingdom represents experiential marketing. Customers visit a fairy kingdom, a pirate ship, or a haunted house. So does the Hard Rock Café. There is also a market for customized experiences such as spending a week at a baseball camp playing with some retired baseball greats, paying to conduct the Chicago symphony orchestra for five minutes or climbing mount everest.
Events: Marketers promote time-based events such as the Olympics, company anniversaries, major trade shows, sports events and artistic performances. There is a whole profession of meeting planners who out the details of an event and make sure it comes off perfectly.
Persons: Celebrity Marketing is a major business. Years ago, someone seeking fame would hire a press agent to plant stories in newspapers and magazines. Today every major film star has an agent, a personal manager, and ties to a public relations agency. Various professionals such as lawyers, artists etc are also getting help from celebrity marketers.
Places: Cities, states, regions and whole nations compete actively to attract tourists, factories, company headquarters and new residents. E.g, easter at the mountains. Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies.
Properties: Properties are intangible rights of ownership of either real property (real estate) or financial property (stocks and bonds). Properties are bought and sold and this requires marketing. Real estate agents work for property owners or sellers or buy residential or commercial real estate. Investment companies and banks are involved in marketing securities to both institutional and individual investors.
Organizations: organizations actively work to build a strong, favourable image in the minds of their target publics. Companies spend money on corporate identity ads. Philips, the dutch electronic’s company puts out ads with the tag “Let’s make Things Better”. Universities, museums, and performing arts organizations all use marketing to boost their public images and to compete for audiences and funds.
Information: Information can be produced and marketed as a product. This is essentially what schools and universities produce and distribute at a price to parents, students and communities. Encyclopaedias and most nonfiction books market information. The production, packaging, and distribution of information is one of our society’s major industries.
Ideas : Every market offering includes a basic idea. Charles Revson of Revlon observed: “In the factory, we make cosmetics; in the store we sell hope”. Products and services are platforms for delivering some idea or benefit. Social marketers are busy promoting such as ideas as Say no to drugs, Save the rain forest, exercise daily or avoid fatty foods.
The Decisions Marketers Make: Marketing managers face a host of decisions from major ones such as what product features to design into a new product, how many sales people to hire, or how much to spend on advertising etc.
