Business Studies Class 12 English

  CBSE Class 12 Business Studies Revision Notes CHAPTER 1 Nature and Significance of Management NATURE AND SIGNIFICANCE OF MANAGEMENT Management is an art of getting things done with and through others. Management can be defined as, the process of getting things done with the aim of achieving organizational goals effectively and efficiently. Efficiency and Effectiveness Efficiency (completing the work at low cost) means doing the task correctly at minimum cost through optimum utilization of resources while effectiveness (Completing the work on time) is concerned with end result means completing the task correctly within stipulated time. Although efficiency and effectiveness are different yet they are inter related. It is important for management to maintain a balance between the two. 1.  Rohini prepared a well-documented and factual report on Co’s performance but she could not present it in Board meeting as she could not complete it on time. [Hint: Efficient but not effective]...

  CBSE Class 12 Business Studies NCERT Solutions Chapter 01 Nature and Significance of Management Short Answer Type: 1. Define Management. Ans:  Management can be defined as a process of getting the work or task done with the view of achieving organizational goals effectively and efficiently. Process implies the functions of the management. That is, planning, organising, staffing, directing and controlling. On the other hand, effective implies completing the given task and work while, efficient means successfully completing the task with minimum possible cost and time. Thus, management can be defined as the process of planning, organising, staffing, directing and controlling such that the goals of the organisation are achieved successfully with minimum cost and resources. 2. Name any two important characteristics of management. Ans:  The following are the two characteristics of management. Pervasive :  Management is pervasive to all organisations across size, charact...

  CBSE Test Paper - 01 Chapter - 1 Nature and Significance of Management Chief Marketing Officer and Managing Director is part of ________. Middle Management Operational Management Top Management None of these Which is not a separate function of management out of the following? Cooperating Planning Staffing Controlling ________ aims to help each other. Planning Staffing Coordination Cooperation Ankita is engaged in manufacturing chocolates and biscuits by using environmentally friendly methods of production. Which management objective is used here? Social objective Economic objective Organizational objective Individual objective Which of the following is not an objective of management: Earning profits Policy-making Growth of the organisation Providing employment State whether each of the following statement is True or False: Supervisory level managers are also known as divisional heads. Management is an intangible force. There are 3 levels of management in the hierarchy of an organ...