Staffing — Business Studies STD 12 Commerce — Question

Taking corrective/ remedial action is the last step in the process of one of the functions of management:

1. Name the function.
2. Explain the other steps of the above mentioned function.

Explain staffing as a part of human resource management.

Explain the Demand Side and Supply Side of the Financial Market.

ABC Ltd. is a renowned company in Kirti Nagar market of Delhi for manufacturing quality furniture. From last 20 years, ABC Ltd. has occupied the No. 1 position in the market. It also specialised in imported furniture besides domestic one. It manufactures for both commercial and residential/ domestic use. For this, company has hired two managers one each for commercial department and residential department.
Mr. Sharma, who is the incharge of manufacturing furniture for commercial purpose, got the target of manufacturing 100 pieces of office tables from a corporate house. To achieve this target, Mr. Sharma has to operate on double shifts due to power failure most of the time. He is able to manufacture 100 pieces of office tables but at a higher production cost.
Whereas, Mr. Gupta, who is the incharge of manufacturing furniture for residential/ domestic use, got the target of manufacturing 50 double beds for one Ashram in Vrindavan. Mr. Gupta concentrated more on manufacturing beds with fewer resources (i.e., cutting down the cost of production) due to which he could not achieve his target.

1. From the two, which manager is effective but not efficient? Why?
2. Name the manager who is efficient but not effective. Give reason also.
3. What should be the ideal aim of managers in given situations?

Describe the following rights of a consumer :
i. Right to be informed
ii. Right to seek Redressal
iii. Right to choose

Even after opening up of our economy in 1991, foreign companies found it extremely difficult to cut through bureaucracy and red tapism.' Identify the element of business environment and explain it with the help of an example.

State any three points which highlight the importance of delegation for an organisation.

Explain in brief any three causes of ‘Under-capitalisation’.

Explain the following feature of planning:
Planning is a mental-exercise.

AM Arya is an overburdened manager of XYZ Ltd. He wants to take help from his subordinates. How? Explain the three important points, which he should keep in mind while taking such help.
OR
List the elements of delegation of authority.