Principles of Management — Business Studies STD 12 Commerce — Question

How ‘first mover advantage’ is made available by the business environment? Give an example.

What is meant by Work Study?

Name the type of formal communication illustrated through following examples:

1. Application for grant of leave.
2. Sending notice to employees to attend a meeting.
3. A production manager may contact marketing manager to discuss about schedule of product delivery, product design, quality, etc.

Why does the principle of unity of command not hold good in an organisation using technique of functional foremanship?

What are the three categories of objectives of management?

When is the dividend decision treated as a residual decision?

What is meant by product concept of marketing.

'Controlling is a pervasive function'. Explain.

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

After completing her studies in product design, Sarita wishes to start her own business to design products to cater to the mobility and communication requirements of persons with special needs. She told her friend that she wanted to focus on supplying high-quality products at affordable prices. The Unique Selling Proposition (U.S.P) of the products would be sensitivity to the challenges and needs of the differently abled people. She wants to employ only differently abled persons in her factory and sales offices across the country. This decision of Sarita provides the base for interpreting her strategy. This also defines the broad parameters within which the company may recruit the persons. Sarita has also to decide about the exact manner and the chronological order of how the selection of the differently abled applicants will be done. In the above lines, Sarita is discussing about one of the functions of management. This function has several types. Identify and explain the types Sarita is discussing in the above lines.