Principles of Management — Business Studies STD 12 Commerce — Question

One of the objectives of management is to consistently create economic value for various constituents of the society. Give two examples of this objective.

Why is gathering and analysing market information necessary?

What is meant by Scientific Management?

In a company there are four departments for finance, marketing production and human resource development. Identify the principle of management used in this company.

Define ‘ Planning’.

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.

State the role of ‘Gang Boss’ in functional foremanship.

Due to the festive season, a company manufacturing gift items plans to open some more stores in the city. Will it affect the requirement for working capital?

An accountant is sent to learn the new software for accounting to prepare the books of accounts faster and accurately. He was further sent to orientation to improve his motivational and conceptual skills.(i) Identify and explain the two concepts explained above.(ii) Differentiate these concepts on the basis of suitability, method used and nature.

Define job description.