Principles of Management — Business Studies STD 12 Commerce — Question

"Management is regarded as an Art by some, as a Science or as an inexact Science by others. The truth seems to be somewhere in between". In the light of this statement, explain the true nature of management.

Flipkart is an e-commerce company founded in the year 2007 by Sachin Bansal and Binny Bansal. The company is registered in Singapore, but has its headquarters in Bangaluru, India. The company seeks to increase traffic (more clicks on their products) and boost sales and revenue through integration of Mobile Apps, Display, Pay Per Click and Search Engine Optimization. In order to dispel the fear of people related to shopping online, Flipkart was the first company to implement the popular ‘Cash on Delivery’ facility. All the products sold by the company under a particular category may have different return/replacement period. Flipkart allows multiple payment options such as cash on delivery, credit or debit card transactions, net banking, e-gift voucher and card swipe on delivery. The company operates both ways when an order is received. The products for which it holds inventory are dispatched by it directly. For the products they do not store in inventory, they just send the order received by them to the supplier who ships it. The company plans to spend about ? 75 crores on e-Commerce advertising in the year 2016. Flipkart reserves the right to terminate your membership and/or refuse to provide you with access to the website if it is brought to Flipkart’s notice or if it is discovered that you are under the age of 18 years. This is because as per the Indian Contract Act, 1872, the minors, un-discharged insolvents, etc. are not eligible to use the website.
In context of the above case, identify and explain the different types of plans being used by Flipkart by quoting lines from the paragraph.

Explain any five points of importance of planning for a large business enterprise.

Mohan is the chief chef of Khidmar restaurant located in the city of Bengaluru. The place is known for its exquisite Mughlai cuisine especially mutton biryani and kababs. All the food is prepared under Mohan's purview. The various activities in the kitchen are initiated in accordance to his instructions. He is very clear and specific in issuing instructions to his subordinates in order to ensure smooth working of the department. He personally oversees the method followed by the chefs for preparation of each dish. He misses no opportunity to praise his subordinates for their good work. All his team members feel very happy and satisfied under his direction. He provides constant guidance to them in order to improve upon its taste and presentation and also encourages them to innovate and be more creative in their work.
By quoting lines, identify the various elements of directing mentioned in the given paragraph.

How is a functional structure different from a divisional structure?

Explain any four non financial incentives.

Is management a full fledged profession? Give Any three reasons in support of your answer.

Write the meaning and features of personal selling.

"A good understanding of environment by business managers enables them not only to identify and evaluate but also to react to the forces external to their firm."In the light of the above statement explain any four points of importance of understanding business environment by a manager.

Answer the following question.Explain the various segments of NSE.