ECO 03 Solved Assignment 2023-24


ECO 03 Solved Assignment 2023-24


ECO 03 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

Assignment Code: ASST/ ECO 03/2023-24

Marks: 100

Attempt all the questions.

Q1. Describe the importance of staffing function in an organisation. Do you agree that combinations of written test and interview provide better result. Comment.

The staffing function in an organization is crucial as it plays a pivotal role in acquiring, developing, and retaining the right talent to achieve organizational goals. Here are some key points highlighting the importance of the staffing function:

Talent Acquisition: Staffing involves recruiting individuals with the right skills, knowledge, and experience to fill positions within the organization. This ensures that the company has the necessary human capital to carry out its operations effectively.

Employee Development: Staffing is not just about hiring but also about developing the skills and competencies of employees. This includes training programs, career development initiatives, and performance appraisal systems to enhance the capabilities of the workforce.

Retention of Talent: A well-planned staffing function contributes to employee satisfaction and engagement, reducing turnover rates. This is crucial as retaining experienced and skilled employees can save costs associated with recruitment, training, and lost productivity.

Organizational Performance: Staffing directly impacts the performance of the organization. The right individuals in the right positions contribute to increased productivity, innovation, and overall success.

Adaptation to Change: In a dynamic business environment, organizations need to adapt to changes in technology, market conditions, and competition. A robust staffing function helps in identifying and acquiring talent that can adapt to and drive change.

Regarding the combination of written tests and interviews, it can be an effective strategy in the hiring process, but its success depends on various factors. Here are some considerations:

Comprehensive Assessment: Written tests provide a standardized way to assess candidates' knowledge and skills, while interviews allow for a more in-depth evaluation of their communication skills, cultural fit, and interpersonal abilities. Combining both methods can provide a more comprehensive view of a candidate's suitability for a role.

Reducing Bias: Using a combination of written tests and interviews can help mitigate biases that may arise in either method alone. Written tests focus on objective criteria, while interviews allow for a subjective evaluation, creating a more balanced assessment.

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Skill Validation: Written tests are particularly useful for validating technical skills and knowledge, while interviews assess interpersonal skills and problem-solving abilities. The combination helps ensure that candidates possess both the required expertise and the ability to apply it in real-world scenarios.

Resource Efficiency: While the combination can offer a thorough evaluation, it's essential to consider the time and resources involved. Striking the right balance to achieve a comprehensive assessment without creating an overly burdensome process is crucial.

In conclusion, a combination of written tests and interviews can indeed provide better results when carefully implemented and tailored to the specific needs of the organization and the job roles in question.

Q2. What do you mean by the terms centralisation and decentralisation? What are the advantages of decentralisation? Distinguish between delegation and decentralisation.

Q3. a) Explain Fayol's contribution to management thought.

b) What is meant by span of control? Discuss various factors affecting span of control.

Q4. a) Explain the various principles of coordination and discuss its limitations.

b) What is meant by strategy? Explain the difference between strategy and objective?

Q5. Write short notes on the following:

a) Managerial grid

b) Communication channels.

c) Administrative management

d) Line organisation

ECO 03 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

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