NCERT Solutions for Class 12 Business Studies Chapter 1

 

NCERT Solutions for Class 12 Business Studies Chapter 1

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

1. Define management.

P: The process of carrying out tasks to achieve goals effectively and efficiently is called management. In other words, management can be defined as the process of planning, organizing, hiring and controlling to achieve organizational goals with minimal use of resources..

2. Name any two important characteristics of management.

P: Two important characteristics of management are comprehensive and ongoing processes. Management influence is ubiquitous because it spans all aspects of business regardless of organization, and it is a continuous process because it simultaneously performs various functions such as planning, organizing, directing, staffing, and controlling..

3. Ritu is the manager of the Northern division of a large corporate house. At what level does she work in the organisation? What are her basic functions?

P: Ritu acts as a middle manager in the organization. She acts as a liaison between senior management and employees. Her main features are:  

1. Understanding the policies set by  top management.  

2.Interaction with upper and lower management.  

3. Motivate employees to achieve productivity.  

4. Collaborate with cross-functional leaders to ensure transparency.

5. Setting up the work of the various departments under management. .

4. Why is management considered a multi-faceted concept?

P: It is considered a multifaceted concept for the following reasons. 

 1. Includes performance management to achieve goals within a set period of time. You could even say it's a goal to be achieved.  

2. Because people do work, managing  people is a very important part of management and can take the form of a team or group. Management helps you identify people's strengths and weaknesses. 

 3. The organization will engage in production where resources are transformed into products or services. These production processes must be continuously monitored to ensure proper performance. This is where management is needed.

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

P: Following are the main characteristics of management as a profession. 

 1. Management is a systematic and well-defined body of knowledge composed of various theories and guiding principles. Such knowledge can be gained by enrolling in books and business courses.  

2. Management is governed by  professional associations taking into account the functions of their members.In India,  the All India Management Association (AIMA) is the governing body for managers. Joining an organization is not mandatory.  

3. Professional knowledge is a required criterion and takes precedence over a degree. Lack of work experience is a stumbling block for people trying to choose a career.4. Business grows only through proper management. The guiding principles  help ensure the smooth functioning of an organization. Quality goods and services can only be delivered through leadership.

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

1. Management is considered to be both an art and a science. Explain.

P: Management can be viewed as both an art and a science in that:  A. Management as an Art  1. Management has a well-defined literature needed to gather theoretical knowledge  and accelerate learning. There are many examples of management literature, such as Taylor's The Scientific Theory of Management  and Henri Fayol's 14 Management Principles. These theories help you understand various management concepts.

2. Management knowledge can be used by everyone in their own way. Like art, words can be expressed differently in  writing  different poets and notes, arranged by musicians to play music, or colored by artists who paint bright pictures. Similarly, managers use different theories and principles  to apply management knowledge.  

3. The arts are creative expression and innovation. For example, two artists act out the same scene in two different ways.Similarly, two different managers manage things differently. Sometimes managers can come up with innovative and fresh ideas to address a situation

Management as a Science  

1. Science is a systematic discipline, and business administration has similar characteristics. Like science, management  relies on theories and principles to solve emerging problems.Management has a separate vocabulary and terminology used to define certain processes.  

2. Scientific theories are developed through extensive observation and repeated experimentation. Similarly, management studies are based to some extent on regular observations and experiments in theory, and these theories will guide management in the long run.  

3.It can be seen that scientific theories have universal validity, and even in management,  the principles are rather universal and some may change depending on the situation. 

These theories and principles can be used as background information for training managers.  Following are the main characteristics of management as a profession.  

1. Management is a systematic and well-defined body of knowledge composed of various theories and guiding principles. Such knowledge can be gained by enrolling in books and business courses.

2. Management is governed by  professional associations that take into account the functions of their members. In India,  the All India Management Association (AIMA) is the governing body for managers. Joining an organization is not mandatory.  

3.Professional knowledge is a required criterion and takes precedence over a degree. Lack of work experience is a stumbling block for people trying to choose a career.  

. A business only grows through proper management. The guiding principles  help ensure the smooth functioning of an organization.Quality goods and services can only be delivered through leadership.

2. Do you think management has the characteristics of a full-fledged profession?

P: Management does not have the characteristics of a full-fledged profession, but it has several qualities that can be called a profession. They are listed below.  1. Management is an organized and well-defined body of knowledge, composed of various theories and guiding principles. Such knowledge can be gained by enrolling in books and business courses.2. Management is governed by  professional associations that take into account the functions of their members. In India AIMA or All India Management Association is the governing body for managers. Joining an organization is not mandatory.  3.Professional knowledge is a required criterion and takes precedence over a degree. Lack of work experience is a stumbling block for people trying to choose a career.  4. A business only grows through proper management. The guiding principles  help ensure the smooth functioning of an organization.Quality goods and services can only be delivered through leadership. 5. All corporate organizations strive to serve society by providing the highest quality and best services to the people.

3. Coordination is the essence of management. Do you agree? Give reasons.

P: Coordination is essential to management because it helps tie all other management functions together. All  activities, including sales, purchases and production, are subject to management approval. The following points will help establish coordination as the essence of management. 

 2.It is an ongoing process, not a one-time effort. Coordination begins at the planning stage and ends at the control stage. 

 3. Coordination is a comprehensive function required at all levels of government. Because all types of management activities are interdependent, coordination improves the work of all departments at various levels.

4. This allows all departmental efforts to act as a unity that ties all activities together and helps the organization better achieve its goals.  

5. This is an intentional function because everyone does it intentionally. Work is  done to achieve organizational goals and objectives.

6. All  departments gather to discuss what needs to be done in the organization. This communication requires coordination among employees.

4. A successful enterprise has to achieve its goals effectively and efficiently. Explain.

P: Management is defined as the process of performing tasks to achieve goals effectively and efficiently. The terms "effective" and "effective" are key terms in management and play an important role in management functions.  Efficiency refers to the process of completing a given task within the allotted time. 

The process of getting work done with a focus on the end result. This is considered a very important aspect of management to help you achieve your goals. 

Efficiency is the process of performing a given task with minimal use of resources and costs.  

For organizations to succeed, these two factors play a key role in achieving organizational goals. Efficiency helps you achieve your set goals, and efficiency helps you achieve your goals with minimal resources and cost. Reducing costs and resources will benefit the organization and increase profits. Therefore, it is important for organizations to focus on both performance and efficiency.It is important to get the job done on time with minimal resources. Similarly, it is important to lower production costs and complete production on time. Therefore, successful businesses must be efficient and effective at the same time in order to generate profits in the long run.

5. Management is a series of continuous, interrelated functions. Comment.

P: Management is a continuous and interrelated set of functions. This can be explained by the fact that management includes the following features that work together:  This includes setting goals to achieve and identifying how to achieve them. This helps lay the groundwork for action. It is often said that this is the most important step in management.

 2. Organization: Organization follows a plan. The process of identifying the tasks and related resources required to complete a plan. Organizations assign individual tasks to different departments according to a specific plan. Hierarchy is clearly established, which leads to the fact that work is performed efficiently and effectively.

 3. Recruitment: Recruitment is the process of recruiting people for specialized work. This means hiring the right people for the job. It is part of the human resources department and includes personnel recruitment and training.

4. Orientation: One of the important functions of a manager, including managing human resources for effective work. This includes motivating employees to improve their performance. 

5. Control. Control is necessary because it ensures that the task at hand is done in the right direction. It usually includes an evaluation of the work done to achieve the organization's objectives. The manager measures the workload to ensure there are no errors or discrepancies. When these errors occur, appropriate actions are taken to resolve the issue. So all of this leads to the understanding that management functions are interdependent on each other to function properly.