Business Environment — Business Studies STD 12 Commerce — Question

What is meant by ‘Job Enrichment’ as a type of non-monetary incentive?

“Management consists of an on-going series of functions.” Which characteristic of management is highlighted by this statement?

Laxmi Chemicals Ltd., a soap manufacturing company, wanted to increase its market share from 30% to 55% in the long-run. A recent report submitted by the Research & Development Department of the company had predicted a growing trend of herbal and organic products. On the basis of this report, the company decided to diversify into new variety of soaps with natural ingredients having benefits and fragrances of Jasmine, Rose, Lavender, Mogra, Lemon Grass, Green Apple, Strawberry etc. The Unique Selling Proposition (USP) was to promote eco-friendly living in the contemporary life style. The company decided to allocate t 30 crores to achieve the objective.
Identify the type of one of the functions of management mentioned above which will help the company to acquire dominant position in the market.

'Bharat Express' specialises in Courier Services. Its 'wide range of express package and parcel services' help business firms to make sure that the goods are made available to the customers at the right place and at the right time.
State, with reason, whether the working capital requirements of 'Bharat Express' will be high or low.

National Vritech Ltd. has grown in size. It was a market leader but with changes in business environment and with the entry of MNCs, its market share is declining. To cope up with the situation, the CEO starts delegating some of his authority to the General Manager, who also felt himself overburdened and with the approval of CEO disperses some of his authority to various levels throughout the organisation. Identify the concept of management discussed above.

Give any two major elements of social environment.

Which function of management ensures that actual activities confirm to planned activities?

Why is coordination and cooperation required together?

Explain, in brief, the term ‘supervision’ as an element of directing.

Why is the understanding of 'Marketing Philosophies' important?