Organising — Business Studies STD 12 Commerce — Question

What are the people, institutions, merchants, functionaries who take part in the distribution function called?

Define ‘ formal organisation’.

What is the basis of delegation of authority?

Which plan suggests actions and non-actions of employees?

Business environment is the aggregate of external forces. (True/ False)

Why is management considered as a continuous process?

What corrective action should be taken in case deviations are caused due to defective machinery?

State any two consequences if there was no planning.

Telco Ltd is manufacturing files and folders from the old clothes to discourage use of plastic files and folders. For this, they employ people from nearby villages where very less job opportunities are available. An employee, Harish, designed a plan for the cost reduction but it was not welcomed by the production manager. Another employee gave some suggestion for improvement in design, but it was also not appreciated by the production manager.

• State the principle of management described in the above para.
• Identify any two values that the company wants to communicate to the society.

Give any one reason why principles of management are not rigid prescriptions.