SYBCOM Business Management – Complete Question Bank (Modules 1–3): 22 flashcards
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1. Define management in one sentence.
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Management is the process of planning, organizing, staffing, directing and controlling resources to achieve organizational goals efficiently and effectively.
2. What is the difference between efficiency and effectiveness?
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Efficiency means doing things with minimum wastage of resources; effectiveness means achieving the right objectives.
3. List the five functions of management.
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Planning, organizing, staffing, directing and controlling.
4. What is the difference between unity of command and unity of direction?
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Unity of command means one boss per employee (about people); unity of direction means one plan per objective (about activities).
5. What is Management by Objectives (MBO)?
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A system where managers and employees jointly set clear, measurable objectives and evaluate performance against them.
6. What is Management by Exception (MBE)?
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A control principle where managers focus only on significant deviations from standards and leave routine matters to lower levels.
7. What is a Management Information System (MIS)?
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A system that collects, processes, stores and supplies relevant information to managers for planning, controlling and decision-making.
8. Name the three classical theories of management and their thinkers.
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Scientific Management (F.W. Taylor), Bureaucratic Management (Max Weber) and Administrative Management (Henri Fayol).
9. What is the focus of the neo-classical approach?
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It stresses people, social relationships and behaviour through the Human Relations Approach and the Behavioural Approach.
10. What does the Contingency Approach say?
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There is no single best way to manage; the right method depends on technology, environment, size, employees and nature of work.
11. What is organizing?
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Organizing identifies activities, groups them, assigns duties, delegates authority and establishes reporting relationships.
12. What is span of control?
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The number of subordinates a manager can effectively supervise.
13. What is departmentalization?
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Grouping similar activities into units on the basis of function, product, geography, customer, process, time/shift or project.
14. What is delegation of authority?
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Assigning duties and granting authority to a subordinate, while the manager retains ultimate accountability.
15. Can accountability be delegated? Why or why not?
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No. Authority can be delegated and responsibility assigned, but the manager remains answerable for the subordinate's work.
16. State the principle of parity of authority and responsibility.
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The authority granted to a subordinate must match the responsibility assigned, otherwise delegation becomes ineffective.
17. What is formal organization?
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The officially planned structure where authority comes from position and communication follows official channels.
18. What is informal organization?
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A structure that develops naturally through social relationships, where influence comes from relationships and acceptance.
19. What is Indian ethos in management?
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A value system emphasizing ethical conduct, duty, self-discipline, human values, teamwork, social responsibility and holistic management.
20. Name four decision-making techniques.
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Cost-benefit analysis, break-even analysis, decision tree, SWOT analysis (also brainstorming, forecasting and marginal analysis).
21. How does AI support business decisions?
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Through data analysis, forecasting, customer insights, risk management, automation, decision support and personalization — but it needs human oversight.
22. Why are planning and controlling called inseparable twins?
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Plans provide the standards against which controlling compares actual performance; without a plan there is no basis for control.
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