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

'Investment criteria is one of the factors, which affect capital budgeting decision'. Comment.

What are the components of internal environment? Write any six.

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.

Fayol points out the danger and costs of unnecessary labour turnover in one of his 'principles'. Name and explain the principle.

‘If anything goes wrong with the performance of key activities, the entire organization suffers. Therefore, the organization should focus on them’. Explain the statement with a suitable example.

The production manager of ABC Ltd. instructs a salesman to go slow in selling the product, whereas the marketing manager is insisting on fast selling to reach the target.
Which principle of management is being violated in this case? State any two consequences of the violation of this principle.

What do you mean by Standing and Single-use Plans?

How does controlling help in maintaining and improving quality? Explain with a suitable example.

Case 1: Suresh, a member of NGO, is involved in educating the consumers as there is widespread ignorance among them about their rights and reliefs available to them.
Case 2; Mahesh is trading in cereals and pulses for the last ten years. He assumes the moral duty of his business to take care of consumer's interest and avoids any form of their exploitation like adulteration, black marketing etc. Due to this, he has earned a good reputation in the market.

1. Which importance of consumer protection is depicted by Suresh and Mahesh?
2. Name the act which seeks to protect and promote the consumer's interest through speedy and inexpensive redressal of their grievances.

Is there any difference in planning, organising, staffing, directing and controlling of various organisations such as a school, a club, a restaurant and a steel plant?
To which characteristic of management is this case related?