Sample Paper of Fundamentals of Management
Total Time-3 hours
Attempt any five questions selecting at least one from each unit. All questions carry 20 marks each
Q.1 What is meant by financial management? What are its functions? What do you mean by fundamentals of management?
Ans : Financial management refers to the planning,organizing,directing and controlling of financial activities in order to procure funds.
Choice of sources of funds, disposal of surplus, fund’s investment, controlling of finance, determination of capital composition.
Fundamentals of management refers to the objectives to be followed while practicing management.
Q.2 Explain briefly the sources of raising long term finance for business.
Ans : Shares, Debentures, Public Deposits, Retained Earnings, Loans from Banks, Loans from financial institutions
Q.3 Define Personnel Management and state its importance.
Ans : It is the art of managing, directing, organizing and controlling the workforce at hand with the objective of making them productive towards the organization.
Functions : Planning, Recruitment, Selection, Training and Development.
Q.4 What is job analysis? Explain the process with suitable flowcharts and diagrams.
Ans : It is the study of job and its environment in order to assess the tasks, responsibilities and post associated with it. It relates to the understanding of tasks to be met under it with the constraints to be followed.
Q.5 What is ideal plant location? Explain the factors responsible for it.
Ans : Ideal plant location refers to the best possible place for an industrial plant to be located according to a number of factors affecting its production.
Factors responsible for it:
Availability of cheap labour, availability of raw materials, proximity to market, availability to electricity and water.
Q.6 What is production management. Please elaborate the term .
Ans : Production refers to the creation of goods and the principles that apply here in order to manage these resources refer to production management. Thus, it basically deals with producing the creation of the right kind of good at the right time at the minimum cost possible.
Q.7 Define marketing and explain the concept of marketing mix.
Ans : This management deals with the four P’s namely – Product, Place, Price and promotion.Thus it is associated with maximizing of the selling of products by following certain strategies and it includes various approaches.
Q.8 Explain the concept of Marketing Information System.
Ans : In this concept the information is gathered both internal as well as external to the organization with the help of sources and this information is used in analyzing and assessing information in order to form decisions on pricing , product development, packaging processes.