National Institute of Technology 2009 M.B.A Finance ESSENTIALS OF MANAGEMENT - Question Paper

Multiplicity of roles: The fact that an employee is more than just a productive factor in management's plans should be taken into consideration. They could be members of many social organizations like schools, churches, temples, trade associations, clubs, political parties etc. It is important to keep in mind that the managers and the people they lead are interacting members of a broad social system
No avg. person: People are various even if they have a specific role in the organization. It is important to acknowledge that people are essentially various and have various needs, attitudes, desires for responsibility, various levels of knowledge and skills and various potentials Managers should understand the complexity and individuality of people and should to make individual arrangements within the framework of the organizational rules and this does not exclude the possibility of arranging a job to the fir a person in a specific situation
Importance of personal dignity: A manager should never violate the dignity of his subordinates. every subordinate must be treated with respect no matter what their position is in the organization
Consideration of the whole person: The human being is a total person influenced by external factors. A person has separate and distract characteristics such as knowledge, skills or personality traits and they cannot divest themselves of these forces when they come to work. A manager must recognize these facts and be prepared to deal with them.
Money : can never be overlooked as a motivator whether provided in the form of salary, bonus, incentive pay stock options, company paid insurance, money is important. Money can mean more then monetary value. It can also mean status or power.
Participation: Use of participation is against. Motivational tool that can be used by managers. Only rarely are people not motivated by being consulted on action affecting them. Most people in the centre of operations have knowledge of both issues and of solutions. As a result, participation yields both motivation and knowledge valuable for enterprise success. Participation is also a means of recognition and appeals to the need for affiliation and acceptance. It provide people a sense of accomplishment
Quality of working life: is a systems approach to job design and a promising development in the broad area of job enrichment. Managers have regarded it as a promising means of dealing with stagnating productivity. Workers have also seen it as a means of improving working conditions and productivity and as a means of justifying higher pay.

Earning:   Approval pending.