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

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesNature and Significance of Management3 Marks
Question
Explain in brief, management as a dynamic function.
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Answer

Every organisation gets set up in the changing environment and survives. The several constituents of environment; namely, social, economic and political continue changing. In order to overcome these changes successfully, the management has to effect changes in its goals and policies. Hence, we may say that there is nothing stable in management.
For example, the fast food company McDonalds effected several revolutionary changes in its ‘Menu’ in order to survive in the Indian market.

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