Class 12 Business Studies - Chapter Nature and Significance of Management NCERT Solutions | Management is a series of continuous int
Management is a series of continuous interrelated functions. Comment.
Management is the process of planning, organizing, directing and controlling the efforts of members and resources of the organisation to achieve the organizational goals effectively and efficiently.
There are five functions of management that are planning, organising, directing, staffing and controlling. All the functions are interrelated with each other because no function can be complete without the other function. For example without planning organising can't be performed.
Functions of management is as follows:
1. Planning: Planning is the initial and very important function of the management. In this function what is to be done and who is to do it is decided. Planning is the step in which goals and the way of achieving them efficiently and effectively determine in advance.
2. Organising: This function is performed to determine what activities and resources are required to accomplish the organisational goals. And to decide who will do a particular task, where it will be done and when it will be done. Grouping of the task into manageable department and reporting relationships within the organisational hierarchy involved in organising. Proper organisational techniques lead to accomplishment of work and promote both efficiency and effectiveness in the organisation.
3. Staffing: Under this function organisation finds the right people for the right job. In this function right people are hired with required qualifications. This is also known as the human resource function and it involves activities such as recruitment, selection, placement and training.
4. Directing: It involves leading, guiding and motivating employees to perform the tasks assigned to them. By providing a required work environment and encouraging them to do their best. The two key components of directing are motivation and leadership. Leadership means getting work done by direction of the leaders. A manager directs by praising and criticising the employee in a way that they give their best.
5. Controlling: This function of management involves monitoring the performance to achieve the organisational goal. This function also involves the measuring of actual work as compared to standard work and taking corrective action where any deviation occurs. This helps in achieving the target on time, efficiently and effectively.
So, we can say that all the functions of the management are interdependent on each other.
More Questions From Class 12 Business Studies - Chapter Nature and Significance of Management
- Q:-
Why is management considered to be a multi-dimensional concept?
- Q:-
Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6 trailer coaches and is expected to save about 21,000 liters of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.
- Q:-
List any two indicators of growth of an organisation.
- Q:-
Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
- Q:-
Coordination is the essence of management. Do you agree? Give reasons.
- Q:-
Company X is facing a lot of problems these days. It manufactures white goods like washing machines, microwave ovens, refrigerators and air conditioners. The company’s margins are under pressure and the profits and market share are declining. The production department blames marketing for not meeting sales targets and marketing blames production department for producing goods, which are not of good quality meeting customers’ expectations. The finance department blames both production and marketing for declining return on investment and bad marketing. State the quality of management that the company is lacking? What quality of management do you think the company is lacking? Explain briefly. What steps should the company management take to bring the company back on track?
- Q:-
A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?
- Q:-
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?
- Q:-
A firm plans in advance and has a sound organisation structure with efficient supervisory staff and control system but on several occasion it finds that plans are not being adhered to. It leads to confusion and duplication of work. Advise remedy.
- Q:-
Management is considered to be both an art and science. Explain.
Popular Questions of Class 12 Business Studies
- Q:-
How does planning provide direction?
- Q:-
What is meant by staffing?
- Q:-
Identify the network of social relationships which arises spontaneously due to interaction at work.
- Q:-
What is informal communication?
- Q:-
State the meaning of controlling.
- Q:-
What is meant by capital structure?v
- Q:-
What is a Treasury Bill?
- Q:-
State any two advantages of branding to marketers of goods and services?
- Q:-
What makes principles of management flexible?
- Q:-
Under which consumer right does a business firm set up consumer grievance cell?
Recently Viewed Questions of Class 12 Business Studies
- Q:-
How would you argue that the success of a business enterprise is significantly influenced by its environment?
- Q:-
Describe the functions of labeling in the marketing of products.
- Q:-
Ramnath is into the business of assembling and selling of televisions. Recently he has adopted a new policy of purchasing the components on three months credit and selling the complete product in cash. Will it affect the requirement of working capital? Give reason in support of your answer.
- Q:-
Aval Ltd. is engaged in the business of export of canvas goods and bags. In the past, the performance of the company had been upto the expectations. In line with the latest demand in the market, the company decided to venture into leather goods for which it required specialised machinery. For this, the Finance Manager Prabhu prepared a financial blueprint of the organisation’s future operations to estimate the amount of funds required and the timings with the objective to ensure that enough funds are available at right time. He also collected the relevant data about the profit estimates in the coming years. By doing this, he wanted to be sure about the availability of funds from the internal sources of the business. For the remaining funds, he is trying to find out alternative sources from outside.
a. Identify the financial concept discussed in the above paragraph. Also, state the objectives to be achieved by the use of financial concept so identified. ( Financial Planning).
b. ‘There is no restriction on payment of dividend by a company’. Comment. ( Legal & Contractual Constraints)
- Q:-
What are the steps taken by management in the planning process?
- Q:-
Explain Taylor’s concept of 'Mental Revolution' and its relevance today.
- Q:-
Mr Shantanu is a chief manager of a reputed company that manufactures garments. He called the production manager and instructed him to keep a constant and continuous check on all the activities related to his department so that everything goes as per the set plan. He also suggested him to keep a track of the performance of all the employees in the organisation so that targets are achieved effectively and efficiently.
a. Describe any two features of Controlling highlighted in the above situation.(Goal Oriented, continuous and pervasive – any 2).
b. Explain any four points of importance of Controlling. - Q:-
What is the role of the Central Consumer Protection Authority (CCPA)?
- Q:-
What are the common barriers to effective communication? Suggest measures to overcome them.
- Q:-
Explain, with examples, the various dimensions of the business environment.
- All Chapters Of Class 12 Business Studies
- All Subjects Of Class 12