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

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesNature and Significance of Management4 Marks
Question
Name any two important characteristics of management.
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Answer

The following are the two characteristics of management.
  1. Pervasive: Management is pervasive to all organisations across size, characteristics and region.
    That is, all organisations whether large or small, working whether for economic, social or political interest and in any region need management. For example, a corporate firm requires management as does a non-profit organisation. Similarly, a hotel needs as much management as a hospital. In addition, management is practiced by organisations in all the countries and regions. The only difference lies in how it is practiced by different organisations in different regions based on their culture and traditions.
  2. Continuous Process: Management is a continuous process. That is, the various functions of management (planning, organising, directing, staffing and controlling) are performed simultaneously by the managers. However, the focus or the priority of the manager may differ from day to day. While on one day, the manger may devotes more time towards planning, while on other day more time may be spent on controlling.

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