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

Sia plans to start a play school at a prime location in the city. She offers a partnership proposal to her family friend Jyotika who has done a diploma in human resource management. As Sia understands that human resource management is critical to starting and running the school. The school needs an experienced and dynamic principal. It also needs talented and dedicated teachers and a competent administrative staff. Therefore, after determining the organisational structure of the school she initiates the staffing process with the help of Jyotika to fill in the various job positions as staffing is considered to be an inherent part of human resource management.
In the context of the above case :

1. Outline the concept of human resource management.
2. Why is staffing is considered to be an inherent part of human resource management?

What is meant by management?

Which component of capital structure determines the overall financial risk?

What is meant by Liberalisation?

Which limitation of planning states that 'Once plans are made, managers may not be in a position to change them'?

Explain in brief ‘Management as a Process'.

What does communication that take place independently at the formal line of authority known as?

Ahmed wants to buy an iron.
As an aware customer how can he be sure about the quality of iron?

Labelling helps in grading of products. Support it with an example.

Give the meaning of ‘motivation’ as an element of directing.