Principles of Management — Business Studies STD 12 Commerce — Question

"Money market instruments are more liquid than capital market instruments". Comment.

How is the Principle of 'Unity of Command' useful to management? Explain briefly.

Clarify the difference between the ‘Principle of critical-point control’ and ‘Principle of management by exception’.

XYZ Ltd. is a management oriented company. Time and again all the employees learn from their seniors various ways of dealing with diverse situations. They are provided training whenever required. They are also given incentives both financial as well as non financial. The result is employees see their development in the organisation. The organisation tries to behave as a responsible constituent of society and always creates good quality products. It has a very good image in the market. The training modules are superb and the employees always try to find unique ways of providing solutions in the context of rapidly changing business environment. This has helped the organisation to adjust frequently in a very good manner.
Which importance of management is highlighted here? Also identify the lines.

Distinguish between ‘formal’ and ‘informal’ communication.

The quality of production was not as per the standards. On investigation, it was observed that most of the workers were not fully aware of proper operation of the machinery. What can be done to improve the accuracy?

Davinder is a class twelfth commerce student in a reputed school in Punjab. Satinder is his elder brother who is doing his Masters in Hospital Administration from Delhi after completing his B.Sc course. During vacations when Satinder comes home, Davinder shows him the business studies project that he is preparing on the topic ‘Principles of Management’. Satinder tells him that these principles are also a part of MBA course curriculum at the beginner’s level as they form the core of management in practice. But he finds these principles different from those of pure science.
In context of the above case :

1. Outline the concept of principles of management.
2. Why does Satinder find the principles of management different from those of pure science ?
3. Why do the principles of management form the core of management in practice? Explain by giving any two points highlighting the importance of principles of management.

With the help of an example, discuss in Odebrief, coordination.

Under the Consumer Protection Act 2019, a consumer is a person who uses or consumes goods or avails of any service. Comment.

What is meant by 'formal organisation'? List any two advantages of formal organisation.