Principles of Management — Business Studies STD 12 Commerce — Question

They provide managers with useful insights into reality and help in optimum utilization of resources and effective administration. Name them.

Levis jeans hires workers for stitching in their factory. Target of stitching 100 jeans per week is given to the workers. Rate per piece is fixed at ₹ 50. But to motivate the workers, it announced that workers, stitching more than 100 jeans per week will get the rate of ₹ 55 per piece on all the jeans which they had stitched and deposited with the line managers. Parvej had a fast speed in comparision to others. By giving one hour extra, he stitched 120 pieces of jeans. So, he got 120 jeans @ ₹ 55 per piece, i.e., ₹ 6,600 in that particular week whereas his colleague Mushtaq stitched only 90 pieces and he got 90 pieces @ ₹ 50, i.e., ₹ 4,500 only.
Name the technique of management which is applied here to motivate the workers.

What is the societal concept of marketing?

Give the meaning of ‘objective’ as type of plan.

Vikas has completed his C.A. by clearing a specified examination by the Institute of Chartered Accountant of India. No body can become a C.A. without this step. He is working as finance manager in Kajaria Ltd. which is involved in manufacturing of tiles. There are other Chartered Accountants, too, in the company but Vikas has the reputation of creative application of existing theoretical knowledge which he has gained during his education. He integrates the activities of finance department with production and sales department due to which performance of the company is geting better day-by-day.

1. Mention the characteristic of profession discussed above.
2. At which level of management Vikas is working in the company?
3. Which nature of management is mentioned above?
4. Name the concept of management which Vikas is performing by integrating the activities of his department with other departments. Give one importance of this concept.

It is the process of identifying and choosing the best person out of a number of prospective candidates for a job. Name it.

Who has developed general principles of management?

Which significance of principles of management is referred through this statement- 'Decisions must be based on facts, thoughtful and justifiable in terms of the intended purposes'?

'Resources should be put to use in such a manner that they should give maximum benefit with minimum cost'. Mention the importance of principles of management highlighted in the statement.

Which feature of planning is stressed by saying that planning is an intellectual activity of thinking rather than doing?