Marketing — Business Studies STD 12 Commerce — Question

Pawan is working as a Production Manager in CFL Ltd engaged in manufacturing of CFL bulbs. There is no class-conflict between the management and workers. The working conditions are very good. The company is earning huge profits. As a policy matter, management is sharing the gains with the workers because they believe that prosperity of the company cannot exist for a long time without the prosperity of the employees.

• State the principle of management described in the above para.
• Identify any two values which the company wants to communicate to the society.

Define 'market' in traditional sense.

Name the groups of public with whom business unit establishes relations.

The production manager of a company received the complaint that the quality of the goods was not good. After investigation, it came to light that the machines had become very old. That is why, they were unable to achieve standardised quality. The production manager developed several options by way of solution to this problem. Example, getting the machines repaired, purchasing new local machines, purchasing new imported machines, if possible taking machines on rent, etc. The CEO of the company wanted the list of options to be smaller, so that a thorough study could be made for them. In order to make the list of optional ways smaller, he decided to give up all those options which required the investment of more than ₹ 10 crores.(a) Identify the concept described in the paragraph given above.(b) What do you understand from the fact of company fixing the maximum investment limit on options?

"A newly appointed personnel manager is of the view that there is no need for training the workers." Do you agree with his views? Give reasons to support your answer.

How can one make efficient use of resources?

Why principles of management are called flexible?

Implementing the plan is that step in planning process where other managerial functions also come into the picture. Explain with an example.

'Workers should be encouraged to develop and carry out their plans for development'. Identify the principle of management formulated by Fayol.

How does decentralisation develop initiative among subordinates?