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Principle of Management:

Q1: What is planning? What to do in it and how to do?


A Management function that involves defining goals, establishing strategies for achieving those
goals, and developing plans to integrate and coordinate activities.

It Consist of following steps:

 Goal setting (what to do)


 Strategy formulation (how to do)

Q2: what is Perception?


Perception is a process through which people receive and interpret information from the
environment.

Perception can cause attribution errors as we explain events or problems

 Fundamental error
 Self-serving bias error

Q3: What are Fundamental Attribution Error?


This error overestimates internal factors and underestimates external factors as influence on
someone’s behaviour. This is a tendency to blame other people when things go wrong, whether
or not this is really true.

EXAMPLE: When considering so-called “poor” performance by someone else, we are

likely to commit something called fundamental attribution error.

Q4: What is symbolic?


Symbolic view of management is the view that managers have only a limited effect on
substantive organizational outcomes because of large number of factors outside their control.

OR
Much of an organization’s success or failure is due to external forces outside of managers
control.
Q5: What is External Environment?
The Factors and forces outside the organization that affect the organization’s performance.

Q6: what is SWOT analysis?


SWOT analysis is a strategic planning technique that provides assessment tools.

Identifying core strengths, weaknesses, opportunities, and threats lead to fact-based analysis,
fresh perspectives and new ideas.

SWOT analysis works best when diverse groups or voices within an organization are free to
provide realistic data points rather than prescribed messaging.
LONG QUESTIONS:
Q1: Define External Environment?
Those factors and forces outside the organization that affect the organization’s performance.

These are:

 Demographic force
 Economic force
 Political force
 Technological force
 Global force
 Socio-culture force

Demographic force: These forces are related to people and concerned with trends in
population.

 Age
 Gender
 Population
 Family member
 Education
 Occupation etc.

Economic forces: These forces are dimension reflects worldwide financial conditions.
Certain economic conditions of special concern to organizations.

 Inflation
 Interest rate
 Employment
 Stock fluctuation

Political forces: The political and legal dimensions of the external environment include
regulatory parameters within which an organization must operate.

 Global
 Federal
 Laws
 Provincial
 Local
Technological forces: The technological dimension of the external environment impacts
the scientific processes used in changing inputs. The success of many organizations depends on
how well they identify and respond to external technological changes.

 MIS
 Laptops
 I pads

Global forces: The global dimension of the environment refers to factors in other countries
that affect U.S. organizations.

 Planning
 Organizing
 Staffing
 Leading
 controlling

Socio-culture forces: The sociocultural dimension is especially important because it


determines the goods, services, and standards that society values. The sociocultural force
includes the demographics and values of a particular customer base.

Oil prices: crude oil or “black gold,” is one of the world's most precious commodities: Its
price affects the economic ecosystem at every level. The supply crude oil is also determined by
external factors, which might include weather patterns, exploration and production (E&P) costs,
investments, and innovations.

Q2: What is organizational culture? Or Ideal Culture?


Organizational culture can be descried as shared values, principles, traditions and way of doing
things that influence the way organizational members act and how they do the things around.

Culture constrain what they can do or cannot do and how they manage.
Hire people with personality and attitude Do not hire people
consistent with customer service, friendly,
attentive, enthusiastic, patient and good
listening skills
Do not allow people to themselves to express
Allowing people to be themselves to express their moods
their moods and feelings without guilt or fear
of reprimand

Risk taking These are not risk takers

Clarity of role and expectations among Do not have clarity of thoughts and expectations
members among members

Playfulness and humor They are not playfull and humors


Q3: What is perception influence?
Perception is a process through which people receive and interpret information from the
environment.

Perception influence: perceptions influence how we behave in response to information


received. Because people often perceive the same things quite differently.