"A Leader Has The Vision and Conviction That A Dream Can Be Achieved. He Inspires The Power and Energy To Get It Done". - Ralph Lauren

SM Test Aug 2013 Students Name: ______________Dhruman Shah Instructions: (a) Answer all any three questions.
Each will carry 10 marks. Conceptual understanding only is required. Each answer will be brief and to the point. (b) Time duration 1 hour and 30 minutes. (c) Include company examples where required to strengthen the answers --------------------------------------------------------------------------------------------------------Q1. (a) A leader has the vision and conviction that a dream can be achieved. He inspires the power and energy to get it done. Ralph Lauren Explain the meaning of the above quote in the context of business organizations. (5 marks) Ans. Every leader has aims and goals to complete the dreams which can be achieved.It can be only achieved when they have potential in them, in every vision there are ups & downs, there will be bad phases in it, but he conquer and win it. When he succeeds all his dreams many people in the world get inspires from him and builds energy in them and power to rules in the market. (b) Explain with examples how does a companys mission statement differ from its vision statement? Ans. (5 marks) Q2. Explain with help of a diagram the main features of a functional organizational structure. Discuss the strengths and weaknesses of a functional structure. When functional organizations grow in size the communication and coordination between functions becomes an issue that can hamper the organizations efficiency and speed of response. What can an organization do to enable better interaction and communication between functions?
(Marks 10)
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In functional organization the management is divided into various major functions. Thus specialists services are given by functional organization.Common Functional Structure include purchasing, human resources, accounting, manufacturing, sales and marketing. As individuals improve or their skills, they may move between department to department. It consists of a group of individuals which may be large or small.The group of individuals work under the direction of executive leadership.It establishes definite relationship between the divided units.It is established for having the common objective. In framing the structure of functional organisation, (a) The inter-related functions are allotted to each department. (b) An activity is allotted to each functional department. (c) An activity allotted to each department can-not be allotted to another departments. (d) It provides expert service at each functional department
Strengthens: Functional organizations work best when a single product or service is involved. The chain of command is linear, so everyone knows his position in the organization. By clustering specialists with similar skills, leadership, tutoring and guidance concentrate on one area. Employees have an obvious path for growth and promotion. Weakness: As a companies goes on large scale, some of the positives of functional organizations become negatives. Since decisions travel through the chain of command, the process becomes bureaucratic, and information and decisions move slowly. Functional grouping can result in a narrowed overall perspective. Because of communication and decision-making issues, the competitive company graps the ,market
Better interaction and communication between functions: 1. The ideas from the junior managers should be taken because every person has creativity and different ideas towards. In future, they should have that skill which should learned at present. 2. Every manager should give opportunities to their juniors to interact in their meeting and gain more from them. 3. Communication in large scale industries should take decision fast and control the whole market
before competition company does.
Q3. Hamel and Prahalad in their seminal article on core competencies of the corporation stated that companies that conceive themselves as a portfolio of core competencies perform better than companies which conceive themselves as a portfolio of businesses. Explain the concept of core competency and discuss the challenges of identifying and building core competencies. (Marks 10) Q4. Most companies have strategies, but according to recent studies, between 70% and 80% of organizations that have formulated strategies fail to execute them. When most companies and organizations know their businesses and the strategies required for success why then do corporations struggle to implement the strategies successfully? Despite such experience of many organizations, it is possible to turn strategies and plans into actions, necessary to produce a great business performance. But it's not easy. Discuss why implementing strategy work can be more difficult than the task of formulating strategy.

"A Leader Has The Vision and Conviction That A Dream Can Be Achieved. He Inspires The Power and Energy To Get It Done". - Ralph Lauren

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"A Leader Has The Vision and Conviction That A Dream Can Be Achieved. He Inspires The Power and Energy To Get It Done". - Ralph Lauren

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SM Test Aug 2013 Students Name: ______________Dhruman Shah Instructions: (a) Answer all any three questions.

RESOURCE MANFACTURING MARKETING & DEVELOPMENT

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