Financial Market — Business Studies STD 12 Commerce — Question

After competing his education, Arun joins his father in their family business of manufacturing cookware. As a businessman, his father is rigid in his approach and has fixed ideas about various issues. He tends to maintain a distance from the factory workers. However, Arun is more receptive to the needs of the workers and doesn’t seem to believe in any class- differences. He believes that the prosperity of their business greatly depends upon the prosperity of their workers and vice versa. At the same time, he has a good understanding of the business environment. Therefore, he introduces a new range of green pans that provide a healthy cooking surface, as they are manufactured with all ceramic or silicon coating and are considered safer than the traditional petroleum based nonstick surfaces which may contain toxic substances. Although, the new cookware range is highly priced/, he expects a ready market for it as both the purchasing power of people and their preference for better quality products has increased over the years.
In the context of the above case :

1. Identify the nature of management which is being reflected in the different styles of management in practice adopted by Arun and his father.
2. Name and explain the related principle of scientific management.
3. State the related dimensions of business environment.

What are derivative plans and why they are formulated?

What is meant by ‘Informal Organisation’? State its any two advantages.

Explain briefly the meaning of 'Planning Premises' with the help of a suitable example.

Explain in brief, management as a dynamic function.

Explain any three limitations of planning.

Ajay is a supervisor in XYZ factory. His routine work is to assign jobs to workers and make arrangements for training, if required. State some other functions which can be performed by him as a supervisor.
OR
Dheer is working as an operation incharge in Tifco Ltd. Name the managerial level at which he is working. State any four functions he will perform at this position in the company.

Your father has retired as the director of a manufacturing company.
At what level of management was he working? What functions do you think he was performing at that level? State any two.

What are the elements of direction?

AM Arya is an overburdened manager of XYZ Ltd. He wants to take help from his subordinates. How? Explain the three important points, which he should keep in mind while taking such help.
OR
List the elements of delegation of authority.