Techniques of Scientific Management
Functional foremanship :- It is an extension of the principle of division of work on specialization to the shop floor. Each worker will have to take order from eight foremen in the related process of function of production.
Basic Aim of Functional Foremanship :-To separate planning functions from executive (operative) functions. Under the factory manager there was a planning in change and a production incharge.
1. Under planning incharge, four personnel, namely, instruction card clerk, route clerk, time clerk and cost clerk and disciplinarian worked. These four personnel would draft instructors for the workers specify the route of production prepare time and cost sheet and ensure discipline, respectively.
2. Under production incharge four personnel who would work were speed boss, gang boss, repair boss and inspector. They were responsible for timely and accurate completion of job, keeping machines and tools etc., ready for operation by workers, ensure proper working condition of machines and tools and chick the quality of work.
3. Foremen should have intelligence, education, tact, judgment, special knowledge, energy, honesty and good health all these qualities cannot always be found in a single foreman. So, Taylor purposed eight specialists.

A functional structure is an organizational design that groups similar or related jobs together. 
1. functional structure in formed by grouping together the entire work to be done into major functional department.
2.  All deptt are report to a coordinating head
3.  These dept may further be divide into sections.
Advantages/Merits
1. Specialisation : A functional structure leads to occupational specialization since emphasis is placed on specific functions. this promotes efficiency in utilization of manpower as employee perform similar tasks within a department and are able to improve performance.
2. Efficiency : It helps in increasing managerial and operational efficiency and this results in increased profit.
3. Minimises costs : It leads to minimum duplication of efforst which results in economies of scale and thus lowers cost.
4. Better control and coordination : It promotes control and coordination within a department because of similarity in the tasks being performed.
i. Proper attention : It ensures that different functions get due attention.
5. Ease in training employees : In makes training of employees easier as the focus is only on a limited range of skills.
Disadvantages/Demerits
1. Functional empires : A functional structure places less emphasis on overall organizational objectives than the departmental objectives. Such practices may lead to functional empires wherin the importance of a particular function (or department) may be overemphasised.
2. Problems in coordination : Pursuing departmental interests at the cost of organizational interests can also hinder the interaction between two or more departments. It may lead to problems in coordination among different departments.
3. Conflict of interests : A conflict of interests may arise among departments when the interests of two or more departments are not compatible.
4. Inflexibility : It may lead to inflexibility as people with same skills and knowledge base may develop a narrow perspective and thus have difficulty in appreciating any other point of view.

A label identifies the product or brand. It helps to provide identification and some information to the customers. Functions of Labelling
1. Helps in identifying the product or brand : The label helps the customers to identify the product from the various types available. For example, we can easily identify a Cadbury chocolate from the various chocolates kept in the shelf of a shop by the colour of its label.
2. Helps in grading the products into different categories : With the help of lable, products can be graded in different categories. For example, Brook Bond Red Lable, Brook Bond Yellow Label, Green Label, etc.
3. Carrier of information : The manufacturer cannot communicate to each and every customer personally. So, if he wants to communicate and each and every customer personally. So, if he wants to communicate and share some information about the product with the customer, it is done through labels. The manufacturer prints all the information related to product such as the contents, price, instructions to use, etc. For example, pack of Maggie Noodles describe the procedure of cooking noodles.
4. Legal requirement : Labelling performs the function of providing information required by law. Examples :
The statutory warning on the package of cigarette, “Smoking is injurious to Health”. In case of hazardous or poisonous material, appropriate safety warning needs to be put on the label.

The barriers to an effective communication can be reduced by sing the following measures :—
(i) Clarify the Idea : Clarify in the thoughts of the sender is must for effective ‘communication’.
(ii) Use of proper people language : Sender should try to make the message meaningful and understandable by using appropriate words.
(iii) Message should be precise : Lengthy and unwarranted elaboration makes message less meaningful this should be avoided.
(iv) Ensure proper feedback : The sender of the message should take the feedback from the receiver. Feedback of the conveyed message is an essential tool to the check that the message is duly understood.
(v) Effective use of organisation Facilities : Effective use of organizational facilities like suggestion box complaint box secret box helps in making the communication effective.

Managerial control implies the measurement of accomplishment against the standard and the correction of deviation to assure attainment of objectives according to plans.
Steps :
1. Establishment of Standards : The first step in control process is setting up of standards of performance. Standards are the criteria of performance and specify what should be accomplished. It is therefore, necessary that standards should be sat and stated in measurable terms.
2.  Measurement of Performance : The second step in controlling is measurement of performance. It means evaluation of work actually done and result achieved. Measurement is Most useful if actual performance is expressed in the same unit as the planned targets or standards comparison of actual and planned performance then becomes easier.
3.  Comparison of actual performance with standards and analysing deviation : Comparisons of actual performance with the planned target or standard involves two steps : (a) finding the extent of deviation (b) identifying the causes of such deviations.
4.  If performance falls short of standards, managers must find out the extent of deviation generally, minor deviations do not require managerial attention. To save time, managers concentrate on major deviations only.
5. Taking corrective action : The purpose of control is not only to detect errors and defects in performance of work but also to adopt remedial measures. Corrective actions are therefore, initiated on the basis of factors causing deviations between standards and actual results.
6.Corrective action may involve a change in methods, machinery rules or procedure, improving physical conditions of work, or changing the nature of supervision may also be necessary at times. Where the deviations cannot be rectified through managerial action, the standards may have to be revised.

The steps involved in the process of management which should be followed by Max Power Ltd. are:
(i) Planning: In this step, Max Power Ltd. plans everything before action. This step helps in determining objective. forecasting and formulation of policies.
(ii) Organising: Once the plans are formulated in an organisation, the next step is organising which means providing all necessary things for its functioning-raw materials, tools, capital, personnel, etc.
(iii) Staffing: In this step, right person is placed at the right job according to the need of work force which is required to achieve the organisational goals.
(iv) Directing: At this stage, actual work is started as  it implies initiating or instructing employees to act.
(v) Controlling: This step helps in binding the efforts at every step. It ensures that the organisation is moving on the right track to achieve its goal.
The various functions of manager are usually performed in the order given above, suggesting that a manager first plans. In reality, managers are rarely able to carry out these functions in isolation.
The activities are interrelated and it is often difficult to pinpoint where one ended and the other began. e.g. while performing the staffing function, HR Managers, recruitment, selection, etc, all at the same time.
Thus, management fuctions are continuous and interrelated, with no pre-determined sequence.

Planning in deciding in advance what to do and how to do. Before doing something, the manager always formulates an idea of how to work on a particular task.
Planning is not a guarautee of success in dynamic environment.

Commercial paper is a source of bridge financing. Bridge financing refers to short term funds for seasonal and working capital needs. Le it may be used as an associated source of financing. If a company needs long term finance buy machinery it must raise these finds from the capital market. For this company must incur floatation costs – brokerage commission funds used to finance such needs over called bridge financing.

Only those appeals where the value of goods and services in question, along with the compensation claimed exceeded Rs.1 crore and where the aggrieved party was not satisfied with the order of the National Commission.

Yes,
Reason:
i) Huge amount of funds are involved.
ii) Such decisions have long-term implications.
They are irreversible decisions.
There are associated cause with capital budgeting decisions