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

Which principle of Taylor suggests that the job performed should be based on scientific inquiry and not on intuition? Name and explain the principle in brief.

How does organising as a function of management help in bringing administrative efficiency?

Give two examples of impact on business organizations of changes in social environment.

State any three features of planning function of management.

State any three advantages that a functional structure offers to an organisation.

Discuss in detail the type of market which deals in previously issued securities.

How does marketing manager react to a situation of reducing demand?

Steelone Enterprises is manufacturing high quality steel utensils. The demand for steel utensils is rising as people are getting aware that plastic is not good for health. This has led to increase in production of steel utensils. To encourage sales, Steelone Enterprises declared a liberal credit policy which allows three months credit to its wholesale buyers.
In the light of the above, identify the two factors affecting working capital requirements of Steelone Enterprises. State with reason, whether the factors as identified above, will result in high or low working capital requirement.

The workers always try to show their inability when any new work is given to them. They are always unwilling to take up any kind of work. Due to sudden rise in demand a firm wants to meet excess orders. The supervisor is finding it difficult to cope up with the situation. Suggest ways for the supervisor to handle the problem.

'Packaging has acquired great significance in the marketing of goods.' In the light of this statement state any three functions of packaging.