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

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

Mention any two elements of political environment.

A business must emphasise on protecting the consumers and adequately satisfying them. Give one reason behind them.

Define the term market in modern sense.

"They do not sell what they can make, but they make what they can sell." Identify the marketing philosophy highlighted here.

Why is selection considered as negative process?

What does allocation as a function of intermediaries involve?

On the basis of delegation, compare authority, responsibility and accountability.

In the staff meeting the principal of the school raised objection that teachers start the teaching after 5 to 10 minutes in third floor classes. He warned them as students are complaining about this. The teachers explained the principal that when we climb steps from ground to third floor. We get some tiredness and need 5 to 10 minutes rest before starting the lecture. The principal planned to install a lift in school so that teachers do not waste their energy on wasteful activity of climbing steps.1. State the techniques of scientific management used by principal.2. State any other technique of scientific management.

Outline the objectives of marketing management.