Class 12 Business Studies - Chapter Principles of Management NCERT Solutions | Explain any four points regarding signif
Explain any four points regarding significance of principles of management.
The principles of management provide useful insights to managerial behavior and influence managerial practices. Managers may apply these principles to fulfill their task and responsibilities.
Following points highlight the significance of principle of management:
1. Providing managers with useful insights into reality: Principle of management provides the managers with useful insight into real world situations. And these principles guide the managers when they are facing real world problems. It also enables the managers to learn from past mistakes and conserve time by solving recurring problems quickly.
2. Optimum utilization of resources and effective administration: As the resources available with the company are limited so they have to be put to optimum use. Optimum use means that the resources should be used in such a manner that it provides maximum benefits with minimum cost. These principles provide the manager to foresee the cause and effect relationships of their decisions and actions. And the wastage associated with trial and error methods can be overcome.
3. Scientific decisions: Principles of management help in thoughtful decision making. The decisions must be based on facts. Principles of management emphasize on logic rather than blind faith. Management decisions taken on the basis of principles are free from bias and prejudice.
4. Meeting changing environment requirements: The principles of management are in the nature of general guidelines but they are modified and help the managers to meet requirements of the changing environment as the principles of management are flexible to adapt.
More Questions From Class 12 Business Studies - Chapter Principles of Management
- Q:-
Define scientific management. State any three of its principles.
- Q:-
Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
- Q:-
‘Bhasin’ limited was engaged in the business of food processing and selling its products under a popular brand. Lately the business was expanding due to good quality and reasonable prices. Also with more people working the market for processed food was increasing. New players were also coming to cash in on the new trend. In order to keep its market share in the short run the company directed its existing workforce to work overtime. But this resulted in many problems. Due to increased pressure of work the efficiency of the workers declined. Sometimes the subordinates had to work for more than one superior resulting in declining efficiency. The divisions that were previously working on one product were also made to work on two or more products. This resulted in a lot of overlapping and wastage. The workers were becoming indisciplined. The spirit of teamwork, which had characterized the company, previously was beginning to wane. Workers were feeling cheated and initiative was declining. The quality of the products was beginning to decline and market share was on the verge of decrease. Actually the company had implemented changes without creating the required infrastructure.
a. Identify the Principles of Management (out of 14 given by Henry Fayol) that were being violated by the company.
b. Explain these principles in brief.
c. What steps should the company management take in relation to the above principles to restore the company to its past glory? - Q:-
State the main objective of time study.
- Q:-
Explain the principle of ‘Scalar Chain’ and gang plank.
- Q:-
Discuss the following techniques of Scientific Work Study:
a. Time Study
b. Motion Study
c. Fatigue Study
d. Method Study
e. Simplification and standardisation of work - Q:-
A production manager at top level in a reputed corporate, Mr. Rathore holds the responsibility for ordering raw material for the firm. While deciding on the supplier for the financial year 2017-18, he gave the order to his cousin at a higher price per unit instead of the firm’s usual supplier who was willing to lower the rates for the order. Which principle of management was violated by Mr. Rathore? What are the positive impacts of following the above identified principle?
- Q:-
Explain the technique of ‘Functional Foremanship’ and the concept of ‘Mental Revolution’ as enunciated by Taylor.
- Q:-
(Further information related to the above question 6) The management of company Bhasin Limited now realised its folly. In order to rectify the situation it appointed a management consultant -Mukti Consultants - to recommend a restructure plan to bring the company back on the rails. Mukti Consultants undertook a study of the production process at the plant of the company Bhasin Limited and recommended the following changes —
• The company should introduce scientific management with regard to production.
• Production Planning including routing, scheduling, dispatching and feedback should be implemented.
• In order to separate planning from operational management ’Functional foremanship’ should be introduced.
• ‘Work study’ should be undertaken to optimise the use of resources.
• ‘Standardisation’ of all activities should be implemented to increase efficiency and accountability.
• To motivate the workers ‘Differential Piece Rate System’ should be implemented.
(The above changes should be introduced apart from the steps recommended as an answer to Part c - case problem 6 above.) It was expected that the changes will bring about a radical transformation in the working of the company and it will regain its pristine glory.
a. Do you think that introduction of scientific management as recommended by M consultants will result in intended outcome?
b. What precautions should the company undertake to implement the changes?
c. Give your answer with regard to each technique separately as enunciated in points 1 through 6 in the case problem. - Q:-
SanakLal and Gagan started their career in Wales Limited (a printing press) after going through a rigorous recruitment process. Since they had no prior work experience, the firm decided to give them one year to prove themselves. Name the principle of management followed by Wales Limited.
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 meant by management?
- Q:-
What is a Treasury Bill?
- Q:-
State any two advantages of branding to marketers of goods and services?
- Q:-
Under which consumer right does a business firm set up consumer grievance cell?
Recently Viewed Questions of Class 12 Business Studies
- Q:-
Explain the process of motivation with the help of a diagram.
- Q:-
How does planning provide direction?
- Q:-
Which element in the communication process involves converting the message into words, symbols, gestures etc.?
- Q:-
Explain the redressal mechanism available to consumers under the Consumer Protection Act, 1986.
- Q:-
Planning reduces creativity. Critically comment.(Hint: both the points - Planning promotes innovative ideas and planning reduces creativity – will be given).
- Q:-
Can planning work in a changing environment? Give a reason to justify your answer.
- Q:-
State the type of plan and state whether they are Single use or Standing plan:
a. A type of plan which serves as a controlling device as well.(budget)
b. A plan based on research and analysis and is concerned with physical and technical tasks. (Method). - Q:-
What is informal communication?
- Q:-
Why it is important for business enterprises to understand their environment? Explain.
- Q:-
Explain different financial and non-financial incentives used to motivate employees of a company?
- All Chapters Of Class 12 Business Studies
- All Subjects Of Class 12