Question 16

administer and coordinate resources effectively and efficiently to channelize their energy towards successful accomplishment of the goals of the organization. Managers are required in all the activities of organizations. Their expertise is vital across departments throughout the organization.

Role of Managers

Managers are the primary force in an organization's growth and expansion. Larger organizations are particularly complex due to their size, process, people and nature of business. However, organizations need to be a cohesive whole encompassing every employee and their talent, directing them towards achieving the set business goals. This is an extremely challenging endeavor, and requires highly effective managers having evolved people management and communication skills.

The Top Management

The top level executives direct the organization to achieve its objectives and are instrumental in creating the vision and mission of the organization. They are the strategic think-tank of the organization.

Senior Management

The General Manager is responsible for all aspects of a company. He is accountable for managing the P&L (Profit & Loss) statement of the company. General managers usually report to the company board or top executives and take directions from them to direct the business.

The Functional Manager is responsible for a single organizational unit or department within a company or organization. He in turn is assisted by a Supervisor or groups of managers within his unit/department. He is responsible for the department's profitability and success.

Line and Staff Managers

Line Managers are directly responsible for managing a single employee or a group of employees. They are also directly accountable for the service or product line of the company. For example, a line manager at Toyota is responsible for the manufacturing, stocking, marketing, and profitability of the Corolla product line.

Staff Managers often oversee other employees or subordinates in an organization and generally head revenue consuming or support departments to provide the line managers with information and advice.

Project Managers

Every organization has multiple projects running simultaneously through its life cycle. A project manager is primarily accountable for leading a project from its inception to completion. He plans and organizes the resources required to complete the project. He will also define the project goals and objectives and decide how and at what intervals the project deliverables will be completed.

1. __________An offer_________ may break by_______

2. The______ peril to possibilities ______suicide ________expanses_______ to______

3. In case of anticipatory______ breach, the distressed party _______may indulgence the _________contract

4. On the acceptance________ of an offer by a offeree________

5. When________ the consensus________ of a party is obtained________ by coercion ________undue influence, fraud or_____ misrepresentation,______ the contract is;_______

6. _________persons are________ not knowledgeable to________ contract?

7. A contingent_________ contract depend______ on the happening _________of the future ________uncertain event can_________ be enforced when the event________;

8. ____________On the valid ________performance_______ of the______ contractual ________obligations________ by the parties, the contract_________;

9. _________The threat to________ promise suicide amounts to___________

10. Ordinarily, __________a minor's_________ agreement is________