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3. X Ltd, a tyre manufacturing concern has been established for more than ten years. Having made good profits in the past, company wanted to expand further and hence did not declare bonus for the previous year. With this decision the workers got agitated but management promised that the bonus will be declared once the projects achieves a stable position. State relevant management principle of Fayol used by management.?
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3. X Ltd, a tyre manufacturing concern has been established for more t...
Relevant Management Principle of Fayol Used by Management

The relevant management principle of Fayol used by management in this scenario is the principle of "Remuneration of Personnel".

Explanation

The principle of "Remuneration of Personnel" states that employees should be paid a fair wage for their work. This principle also includes the provision of bonuses and other incentives for good performance. In this scenario, the management of X Ltd did not declare bonus for the previous year despite making good profits. This decision agitated the workers, but the management promised that the bonus will be declared once the projects achieve a stable position.

The management's decision is in line with the principle of "Remuneration of Personnel" as they are ensuring that the workers are paid a fair wage for their work. The decision to delay the bonus until the projects achieve a stable position also shows that the management is concerned about the financial stability of the company and wants to ensure that the bonus can be sustained in the long run.

Conclusion

In conclusion, the management of X Ltd used the principle of "Remuneration of Personnel" to ensure that the workers are paid a fair wage for their work. The decision to delay the bonus until the projects achieve a stable position shows that the management is concerned about the financial stability of the company and wants to ensure that the bonus can be sustained in the long run.
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3. X Ltd, a tyre manufacturing concern has been established for more t...
Subordination of individual interest with general interest
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Mr. Gul Muhammed set up a factory for manufacturing parts of washing machines in his village after completing his education of MBA. This gave employment to about 50 people of his village. The scale of Gul Muhammad’s business was small. He had kept all the decision taking rights  with himself so far as the different business activities are concerned. Mr.Akbar Shah, the Sarpanch of the village, had helped him a lot in setting up the factory. He often happened to meet Mr.Shah. Many a time he saw Mr.Shah working as the Sarpach. During this course the special thing that e observed was that all the rights of spending the grant given by the government fr the welfare of the village were with the Panchayath only. Mr.Gul compared this situation with his own business and concluded, “The government has given all the decision taking rights to its subordinate ie village panchayath, whereas all the decision taking rights he has kept with himself instead of giving them to his subordinates.”Mr Gul thought deeply over this situation and arrived at this conclusion, “Because the Government is a very bg organization, it is imperative that the decision taking rights be given up to the lower level. On the other hand, the scale of his business is very small, hence he can easily take all the decisions himself. And as the scale of his business grows, he too will hand over the rights f decisions to his subordinates.”Identify and explain the principles of management described in the paragraph given above.Identify any one value in the paragraphs given above which through business has influenced the society. Related: Chapter Notes - Principles Of Management?

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3. X Ltd, a tyre manufacturing concern has been established for more than ten years. Having made good profits in the past, company wanted to expand further and hence did not declare bonus for the previous year. With this decision the workers got agitated but management promised that the bonus will be declared once the projects achieves a stable position. State relevant management principle of Fayol used by management.?
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3. X Ltd, a tyre manufacturing concern has been established for more than ten years. Having made good profits in the past, company wanted to expand further and hence did not declare bonus for the previous year. With this decision the workers got agitated but management promised that the bonus will be declared once the projects achieves a stable position. State relevant management principle of Fayol used by management.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about 3. X Ltd, a tyre manufacturing concern has been established for more than ten years. Having made good profits in the past, company wanted to expand further and hence did not declare bonus for the previous year. With this decision the workers got agitated but management promised that the bonus will be declared once the projects achieves a stable position. State relevant management principle of Fayol used by management.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 3. X Ltd, a tyre manufacturing concern has been established for more than ten years. Having made good profits in the past, company wanted to expand further and hence did not declare bonus for the previous year. With this decision the workers got agitated but management promised that the bonus will be declared once the projects achieves a stable position. State relevant management principle of Fayol used by management.?.
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