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

Which feature of business environment is indicated when it is stated that business environment is a phenomenon that is relatively easier to understand in parts but difficult to grasp in its totality?

How can extent of competition in market affect price determination?

A group of people believes that management is a systematic body of knowledge that explain certain general truth and is based on logical observation.Identify and explain the nature of management discussed in above case.

List any two personal objectives of management.

Name the function of management:(i) Finding out deficiencies in implementation of plans.(ii) Establishing authority responsibility relationship between superior and subordinates.(iii) Instructing and ordering employees.(iv) Deciding policies, procedures, objectives of an organisation.

‘Planning always leads to success.’ Do you agree? Give reason in support of your answer.

Explain the two principles a manager must consider while dealing with deviation effectively?

'Maruti Vega Ltd.' entered into the market with coloured television and have now introduced products like audio systems, air-conditioners washing machines, etc. The company is not only offering the products but also handling complaints and offering after-sales services.
Identify the element of marketing mix discussed here.

State the features of informal organisation.
Or
The employees of Manav Ltd, have formed a dramatic group for their recreation. Identify the type of organisation and explain it briefly.

Name the factor, which is considered as the most important instrument of success in an organisation under human relations approach.