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

Government of India has permitted to allow oil marketing public sector undertakings to fix their own price for petrol and diesel. Which economic reform is the reason of this government's policy?

Karan and Arjun are first cousins. After completing a course in journalism, both of them join a leading newspaper company as sub-editors. Over the years, due to their consistent hardwork, they are promoted to the post of chief editors in different divisions. However, the way of their functioning is totally different. Karan believes in the capabilities of his subordinates and therefore follows the philosophy of selective dispersal of authority throughout all the levels in his division. On the other hand, Arjun prefers to function through strict controls and retains all the decision-making authority with himself.
In the context of the above case :
How do Karan and Arjun differ in their policies related to the extent of delegation of authority? Explain.

Why is coordination needed at all levels of management?

National Vritech Ltd. has grown in size. It was a market leader but with changes in business environment and with the entry of MNCs, its market share is declining. To cope up with the situation CEO starts delegating some of his authority to the General Manager, who also felt himself overburdened and with the approval of CEO disperses some of his authority to various levels throughout the organisation. Identify the concept of management discussed above.

Which principle of Fayol leads to specialisation?

What is meant by Divisional Organisation Structure?

'Maruti Vega Ltd.' entered into the market with coloured television and have now introduced products like audio systems, air-conditioners washing machines, etc. The company is not only offering the products but also handling complaints and offering after-sales services.
Identify the element of marketing mix discussed here.

Name the communication barrier in which a message is decoded differently by different people.

If you were ever cheated or exploited by a shopkeeper, share your experience in not more than 30 words.

Give the name of environment that provides the framework, within which the business has to function?