Chapter 1(Nature and Significance of Management)

NCERT Business Studies Solutions Class 12 Chapter 1 Short Answer Questions

Q1. Define management.

The process of doing things to achieve goals effectively and efficiently is called management. In other words, management can be defined as the process of planning, organizing, staffing and controlling in order to achieve the objective of the organization with minimum use of resources.

Q2. Name any two important characteristics of management.

Two important characteristics of management are a pervasive and continuous process. It is pervasive because the influence of management includes all aspects of business, regardless of organization, while it is a continuous process because it simultaneously performs various functions such as planning, organizing, directing, staffing and controlling.

Q3. Ritu is the manager of the northern division of a large corporate house. At what level does he work in the organization? What are its basic functions?

Ritu functions as middle management in the organization. Works as a liaison between senior management and workers. Its basic functions will be as follows:

Understanding of policies set by senior management.

Communication with upper and lower levels of management.

Motivate employees to achieve productivity

Coordinate with cross functional heads to maintain transparency

Assignment of tasks to different departments under control

Q4. Why is management considered a multifaceted concept?

It is considered a multifaceted concept for the following reasons:

It involves managing work that accomplishes goals over a period of time. It can also be said that these are goals to be achieved.

Work is done by people, so managing people is a very important part of management, which can be in the form of teams or groups of individuals. Management helps identify people's strengths and weaknesses.

The organization will be involved in production where inputs are transformed into products or some kind of service. Such manufacturing processes need to be constantly monitored to ensure the correct output. Management is required here.

Q5. Discuss the basic features of management as a profession.

The following are the basic features of management as a profession

Management is a systematic and well-defined body of knowledge that consists of various theories and guiding principles. Such knowledge can be acquired through books, by enrolling in management courses.

Management is regulated by a professional association that oversees the functions of its members. In India, the governing body for managers is AIMA or the All India Management Association. Joining the organization is not mandatory.

Expertise is a required criterion and takes precedence over degrees. Lack of professional experience discourages people who want to choose a profession.

The business will only grow with proper management. The guiding principles will help ensure the smooth functioning of the organization. Quality goods and services can be made available to management.

Long Answer Questions for NCERT Business Studies Solutions Class 12 Chapter 1

Q1. Management is considered both an art and a science. Explain.

Management can be considered both an art and a science from the following points

A. Management as Art

Management has a well-defined literature that is essential for acquiring knowledge in theories and accelerating learning. There are many examples of management literature available such as Taylors Scientific Management Theory and Henry Fayol's 14 Principles of Management. These theories help to understand various management concepts.

Management knowledge can be used by everyone in their own way, very much like art, where words can be expressed in the form of writing by different poets and notes arranged by musicians to perform a piece of music, or the use of colors by a painter. draw vivid pictures. Similarly, managers apply different theories and principles in testing situations to utilize managerial knowledge.

Art is all about expression and innovation through creativity, as two artists will portray the same scene in two different ways. Similarly, two different managers will handle the situation differently. Sometimes managers can come up with innovative and novel ideas to solve the situation.

Management as a science

Science is a systematic discipline and management also shares similar characteristics. Like science, management relies on theories and principles to solve problems that arise. Management has its own vocabulary and terms that it uses to define certain processes.

Theories in science were developed after prolonged observation and repeated experiments, similarly to some extent management bases its theories on regular observation and experiments, such theories will serve as guides for management in the long run.

Scientific theories have universal validity and in management we also see that principles are universally valid to some extent and some may change according to the situation. These theories and principles can serve as background information for training managers.

2. In your opinion, does management have the characteristics of a full-fledged profession?

Management does not have the characteristics of a full-fledged profession, but it has some characteristics that allow it to be called a profession. These are listed below.

Management is a systematic and well-defined body of knowledge that consists of various theories and guiding principles. Such knowledge can be acquired through books, by enrolling in management courses.

Management is regulated by a professional association that oversees the functions of its members. In India, the governing body for managers is AIMA or the All India Management Association. Joining the organization is not mandatory.

Expertise is a required criterion and takes precedence over degrees. Lack of professional experience discourages people who want to choose a profession.

The business will only grow with proper management. The guiding principles will help ensure the smooth functioning of the organization. Quality goods and services can be made available to management.

All business organizations strive to provide the best services to the people in the best quality. This serves society.

3. Coordination is the essence of management. do you agree Give reasons. Coordination is essential in management because it helps link all other management functions. All activities such as sales, purchasing and production are based on coordination with management. The following points will help establish coordination as the essence of management. Combining the efforts of all groups increases productivity and also provides a common focus for all group efforts. It is a continuous process and not a one-time effort. Coordination begins in the planning phase and ends in the control phase. Coordination is a ubiquitous function because it is required at all levels of management. Since all management activities are interdependent, coordination improves efforts at different levels among all departments. It ensures that all the combined efforts of the department act as a unity that ties all actions together and helps the organization achieve its goals in a better way. It is an intentional function because everyone performs it intentionally. Tasks are performed to achieve the goals and objectives of the organization. All departments meet and communicate about the work to be done in the organization. This communication requires coordination between employees. Q4.'A successful business must achieve its goals efficiently and effectively:' Explain. Management is defined as the process of getting things done in order to achieve goals effectively and efficiently. The terms effective and efficient are key terms in management and play an important role in the functioning of management. Efficiency refers to the process of completing a given job in the time provided. It is the process of performing a task with a primary focus on the end result. It is considered a very important aspect of management that helps in achieving goals. Efficiency is the process of completing a given task with minimal use of resources and cost. For an organization to be successful, both of these factors play a vital role in meeting the organization's goals. Efficiency helps in achieving defined goals while efficiency helps to achieve it with minimum resources and cost. Reducing costs and resources brings profits to the organization and also increases them. Therefore, it is very important for an organization to focus on both effectiveness and efficiency. It is important to complete the work on time with minimum resources. Similarly, it is necessary to reduce the cost of production and complete the production in the specified time. Therefore, successful companies must be efficient and effective at the same time in order to achieve long-term profits. Q5. Management is a series of continuous interrelated functions. Comment. Management is a series of continuous interrelated functions. This can be explained with the help of the following points Management consists of the following functions that work together Planning: It is the process of determining what work needs to be done, who will do it, and how it should be done. It involves determining the goals to be achieved and determining the ways in which they can be achieved. It helps in establishing a framework on the basis of which activities can be implemented. It is often said to be the most important step in management. Organizing: Planning is followed by organizing. It is the process of identifying the tasks and appropriate resources that are required to carry out the plan. The organization assigns different tasks to different departments with a defined plan. Hierarchy is well established which results in work being done effectively and efficiently. Staffing: Staffing is the process of assigning specialized personnel for specialized work. In other words, hiring the right person for the job. It is part of human resources and involves hiring and training people. Directing: It is one of the important functions of a manager that involves directing human resources to work effectively. It also includes providing incentives to workers to increase productivity. Controlling: Controlling is essential because it checks whether the assigned work is progressing in the right direction or not. It generally involves evaluating the work done with the organization's goals. By measuring the scope of work, managers ensure that there is no error or discrepancy. If any such errors are found, appropriate steps will be taken to correct the problem. All this allows us to understand that the control functions are dependent on each other to function properly. .