Staffing — Business Studies STD 12 Commerce — Question

What is meant by 'functional structure' of an organisation? State its any two advantages.

How effective administration is possible through organisation?

“Controlling is backward looking”. Explain.

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 is meant by the ‘Product Concept’ of marketing’?

Define Capital Market. State the two parts of capital market.

"External sources of recruitment are considered better than internal sources". Give any three reasons in support of this statement.

Explain the steps involved in the process of planning.

State any three advantages of informal organisation.

"Stock market imparts liquidity to investment". Comment.