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

It implies the measurement of accomplishment against the standard and the correction deviations to assure attainment of objectives according to plans. Mention the concept implied here.

Clarify the terms efficiency and effectiveness in management.

Joseph and Co. is specialist in production of big ships and cruises. The company got the order of production of 10 ships with a capacity of 2,000 passengers. But the problem is that time span between the receipt of raw material and their conversion into finished goods, i.e., ship, is of two years. Thus, there is a limit to number of production each year as it is a time consuming process. Lot of staff, patience and hard work is required in this process too. State the nature of working capital requirement for Joseph and Co.

What is meant by sample checking?

'Shan Spices Ltd.' is the manufacturer of different food specific spices like Rajmaa Masala, Cholley Masala, AalooParantha Masala, etc. Mr Raghav, the owner of the company has created different departments for purchase, production, marketing, finance and human resource. There are thirty employees working in the organisation. Planning is of paramount importance to the company as Mr Raghav believes that effective planning leads to achievement of organisational objectives. So in order to make employees focus on objectives, he issued instructions that during working hours only official matters will be discussed. He made certain rules and code of conduct for the employees to follow, according to which employees are not allowed to visit and talk to the employees of other departments except for official work. He emphasised on work performance which resulted in smooth functioning of the organisation.(a) Identify and state the type of organisation mentioned in the above para.(b) State one feature of the concept identified in part (a) as mentioned in the above para.(c) What was the purpose behind the formulation of rules for the employees that restricted their personal communication with the employees of other departments?

State two internal sources of recruitment.

Avik is the finance manager of Mars Ltd. In the current year, the company earned high profit. However, Avik thinks that it is better to declare smaller dividend as he is unsure about the earning potential of the company in the coming years.Avik's choice of dividend decision is based on which of the factor that affect it?

Organising leads to a systematic allocation of jobs amongst the workforce. Which importance of organising is stated here?

Beauty Products Ltd’ is a natural and ethical beauty brand famous for offering organic beauty products for men and women. The company uses plant based materials for its products and is the No. 1 beauty brand in the country. It not only satisfies its customers but also believes in overall protection of the planet. Identify the marketing management philosophy being followed by ‘Beauty Products Ltd.

Why is RBI considered as a key regulator of the country's economic development?