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

There are some barriers in communication which are concerned with encoding and decoding of message. State any three such barriers.

Develop an imaginary plan of differential piece rates to be introduced for the workers, engaged in sewing shirts.

"Money market is essentially a market for short- term funds". In the light of this statement, state any three features of money market.

State any three advantages of informal organisation.

Fayol points out the danger and costs of unnecessary labour turnover in one of his 'principles'. Name and explain the principle.

What are the steps in the process of organising?

Staffing is an integral part of management process. In the light of this statement, state some of its features.

Rakesh joins as a Head Librarian of a newly constructed medical college in Pune. A team of four librarians is placed under him for the smooth functioning of the library. Besides, he has been assigned eight people as support service staff. On the second day of his joining, he is told get a shipment of new books unloaded, stock the bookshelves, and then get all waste (packaging, paper etc.) disposed off within a weeks time. In order to ensure orderliness and speed in the process of setting up of the library, he makes each of the four librarians in charge of five different subjects. Keeping in mind their competence and experience he decides to give them more authority so that they can make autonomous plans and assume the responsibility for the effective implementation of their decisions.
In context of the above case :

1. Identify and explain the concept used by Rakesh keeping in mind the competence and experience of the other librarians.
2. Describe briefly any three advantages of using the concept as identified in part (a) of the question.

Manak Chand and Co., dealing in copper and other metals, has earned a profit of ₹ 1,200 crores. Manak Chand and Co. is a renowned name in the market and investors like to invest in the company. Company has explored its potential fully and is on the top, thus, it has no plans for growth or expansion in the next few years. Also, earnings of the company are consistent and stable over the years. Tax on dividends is also levied at a low rate by the government on the company. Guide the company on the decision of distribution of dividend to shareholders.

What is formal organisation structure? How is it different from informal organisation on the basis of flow of authority?