Nature and Significance of Management — Business Studies STD 12 Commerce — Question

Define environment scanning.

JTM Ltd. launched 'Buddyline', an exercise book and comprehensive stationery brand name comprising of ball pens, gel pens and geometry boxes after identifying the target market and understanding the needs and wants of the consumers of that market. All their products were of good quality and eco-friendly but expensive. They wanted to distinguish their products from that of their competitors. They spent lot of efforts, time and money in creating the brand name, as they knew that without a brand name, they can only create awareness for the generic products and can never be sure of the sale of their products. The effort paid off and the demand for the products started growing. The customers liked the brand and became habitual to it. They did not mind paying a higher price. Over a period of time, it became a status symbol to buy 'Buddyline' brand because of its quality. The consumers felt pride in using them.

1. Identify the marketing management philosophy followed by JTM Ltd.
2. Explain the advantages of branding to the marketeers highlighted in the above case.

What is the feedback in controlling?

Raj and Simran are both qualified eye surgeons and good friends. After obtaining a certificate of practice, they decide to persue a career of their own choice. Raj starts an eye care centre in the city whereas Simran joins a government hospital in a small village. They meet after a long time in a party. Raj invites Simran to visit his eye care centre and she accepts his invitation. She observes at his clinic that there is a fixed place for everything and everyone and it is present there so that there is no hinderance in the activities pf the clinic. Also, Raj always tends to replace T with ‘We’ in all his conversations with the staff members. Later on Raj shares with her that he always deals with lazy staff sternly to send the message that everyone is equal in his eyes.
In context of the above case :

1. Identify and explain the various principles of management that Raj is applying for the successful management of his eye care centre.
2. List any two values that Simran wants to communicate to the society by taking up a job in a village.

Arnav, a manager of Micro Ltd, does not distribute the work amongst his subordinates, according to the capabilities. He has given the work on the basis of favouritism. Which principle is overlooked? Give some of its violating effects.

State any six reliefs available to a consumer under the Consumer Protection Act, 1986.

Explain the two internal sources of recruitment.

There are some barriers in communication which are concerned with encoding and decoding of message. State any three such barriers.

State any three responsibilities that a consumer should keep in mind while purchasing, using and consuming goods and services.

Explain any three functions performed by a supervisor that are vital to any organization.