Principles of Management — Business Studies STD 12 Commerce — Question

Explain any two reasons why proper understanding of management principles is necessary.

To satisfy the social and psychological needs which type of incentives are needed? Explain any four types of such incentives.

Raman is working as a ‘Plant Superintendent’ in Tifco Ltd. Name the managerial level at which he is working. State any four functions he will perform as the ‘Plant Superintendent’ in this company.

“Management is a trinity of an art, science and profession”. In the light of this statement, explain the nature of management.

The court passed an order that all the schools must have water purifier for the school children as:

1. Society in general is more concerned about the quality of life.
2. Innovative techniques are being developed to manufacture water purifier at competitive rates;
3. Incomes are rising and children at home are also drinking purified water. The Government is also showing positive attitude towards the water purifier business.

Identify the different dimensions of business environment by quoting from the above details.

Tata International Ltd. earned a net profit of ₹ 50 crores. Ankit the finance manager of Tata International Ltd. wants to decide how to appropriate these profits. Identify the decision that Ankit will have to take and also discuss any five factors which help him in taking this decision.

Is planning actually worth the huge costs involved? Explain.

What is meant by Packaging? Give any five points explaining why packaging is important.

Aman, Avneesh and Amrish have decided to start a business of manufacturing toys. They identified the following main activities which they have to perform:

1. Purchase of raw materials.
2. Purchase of machinery.
3. Production of toys.
4. Arrangement of finance.
5. Sale of toys.
6. Identifying the areas where they can sell their toys.
7. Selection of employees

In order to facilitate the work they thought that four managers should be appointed to look after:

1. Production.
2. Finance.
3. Marketing.
4. Personnel.

1. Identify the function of management involved in the above mentioned para.
2. Quote the lines from the above para which help you in identifying this function.
3. State the steps followed in the process of this function of management.

Nandrachal Networks and Technologies Ltd. is a leader in technology innovation in U.S.A. creating products and solutions for a connected world. It has a large Research and Development team which invented the first smart watch W-I, which besides showing the time would also monitor few health parameters like heart beat, blood pressure, etc. While in search of markets abroad, the company found that in India, the reform process was underway with the aim of accelerating the pace of economic growth. The company decided to take advantage of the fact that licensing requirements had been abolished. The company was also aware that there had been increased level of interaction and interdependence among the various nations of the world and India could be made a base for its international trade. It set up its office in Gujarat with a view to capture the Indian market. In a short span of time, the company emerged as a market leader. Success of the company attracted many other players to enter the market. Competition resulted in reduction in prices, thereby benefitting the customers.

1. In the above paragraph, two major concepts related to government policy have been discussed. Identify and explain those concepts.
2. Also, explain briefly any three impacts of those concepts on Indian business and industry.