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

Discuss in brief the importance of financial management.

Clarify that coordination does not get established spontaneously.

What is the objective of the Consumer Protection Act, 1986?

“If we delegate the authority, we multiply it by two, if we decentralise it, we multiply it by many”. How? Give an example.

Rahul Bajaj purchased a car for ₹ 18 lakh from an Automobile Company. Later on, he found defects in its engine. Suggest to him the appropriate authority, where he could file a complaint under Consumer Protection Act.

What do you mean by ‘Levels of Management’?

Briefly, explain any three objectives of marketing management.

You are asked to draw a label for a company's product (chocolate). Mention what things will you keep in mind and furnish the information on the label of a product.

Dharam is a well-known businessman in the field of publishing. He owes the success of his business to his own education in business management and his team of certified management consultants. Therefore, he decides to send both his children Danush and Damini abroad to acquire a degree in business management in their individual area of expertise. He feels that all over the world there is marked growth in management as a discipline, but still it is not considered to be a full-fledged profession for certain reasons.
In the context of the above case :

1. Explain the reasons because of which Dharam considers management as a discipline.
2. Critically examine the various reasons because of which management is not considered to be a full-fledged profession.

Taking corrective/ remedial action is the last step in the process of one of the functions of management:

1. Name the function.
2. Explain the other steps of the above mentioned function.