ICANBusiness, Management and FinanceManagement Theories and Functions2020

QUESTION 1 Adekunle Bello recently assumed the position of Managing Director of Greenfield Agro-Processing Limited, a medium-sized food manufacturing company headquartered in Kano. On resumption, he discovered that the company had been operating without a clear management structure, with workers performing tasks randomly and supervisors making decisions arbitrarily. Staff morale was low, productivity had declined by 30% over two years, and there was significant waste of raw materials. Mr. Bello decided to reorganise the company using classical management principles. Required: (a) Explain FIVE of Henri Fayol's fourteen principles of management and show how each principle can be applied to resolve the management challenges at Greenfield Agro-Processing Limited. (10 marks) (b) Distinguish between Frederick Winslow Taylor's Scientific Management Theory and Elton Mayo's Human Relations Theory, highlighting TWO key differences between the two approaches. (6 marks) (c) Identify and explain the FOUR functions of management as identified by Henri Fayol, and briefly state how Mr. Bello should apply each function to improve performance at Greenfield Agro-Processing Limited. (9 marks) (Total: 25 marks)

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