Principles And Practice Of Management
Exam Name: Principles And Practice Of Management
PRINCIPLES AND PRACTICE OF MANAGEMENT
ANSWER ANY FIVE QUESTIONS
The training programme for the first year graduate management trainees of PQR Bank Ltd., a major commercial bank with a country wide branch network, consists of classroom training and on-the-job training. The objectives of the training are to ensure that new staff members learn fundamental concepts in banking and develop technical, analytical and communication skills that when combined with further experience and training, will help them achieve maximum potential in the organization.
Classroom training is used to introduce concepts and theories applicable to the work environment. Although new management trainees receive this special training, actual work experience is the principal means by which they develop the skills necessary to become good bank managers.
Managers in different departments and branches of the bank are responsible for on-the-job training. They assign duties to the trainees and review their progress. Owing to the fact that managers are on performance contracts, their attention is usually not focused on the work being done by the trainees. The managers therefore, assign routine to the trainees with little or no through to furthering the career development of these employees. This has resulted in minimal preparation of the trainees for the learning the job.
Recently, the bank has lost several capable first year management trainees. The reason most of them gave for leaving was that they were not learning or advancing in their careers.
(a) Explain the limitations of on-the-job training offered by PQR Bank Ltd.(8 marks)
(b) Describe the measures that PQR Bank Ltd. should put in place in order to reduce the high turnover of the management trainees.(12 marks)
The success of a business plan depends as much on the clarity and realization of the thought behind it as on how it is expressed and put together.
List and explain the sequential framework for compiling a business plan. (20 marks)
(a) Benchmarking can provide a company with a continuous and competitive advantage if it is used effectively.
(i) Describe the various types of benchmarking. (8 marks)
(ii) Highlight the advantages of benchmarking. (4 marks)
(b) Briefly explain the key requirements for successful project management.
The primary purpose of performance measurement is to measure how well an organization or department is accomplishing its mission, goals and objectives.
Describe the steps to be followed in the implementation of a performance measurement system in an organization. (20 marks)
(a) “Outsourcing some of an organisation’s operations could lead to increased productivity.” Discuss. (12 marks)
(b) Explain the factors that are considered in the design of an organization structure. (8 marks)
(a) With the aid of a diagram, describe the transformation process and the various ways in which operations transform inputs into outputs. (10 marks)
(b) Identify and explain the characteristics of an effective management information system. (10 marks)
(a) In order to enhance the chances of a new product succeeding, the company should follow a systematic new product development process.
Highlight the major stages in new product development. (8 marks)
(b) Describe the marketing strategies a firm should adopt in the different stages of a product’s life cycle. (12 marks)
“The nature of strategic management differs according to the type of organizations.”
Discuss this statement with respect to the following types of organizations:
(a) Public sector organizations. (10 marks)
(b) Non-profit organizations. (10 marks)
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