NCERT Solutions for Class 12 Business Studies Chapter 1 Nature and Significance of Management

NCERT Solutions for Class 12 Business Studies Chapter 1 Nature and Significance of Management

NCERT Solutions for Class 12 Business Studies Chapter 1 Nature and Significance of Management is designed and prepared by the best teachers across India. All the important topics are covered in the exercises and each answer comes with a detailed explanation to help students understand concepts better. These NCERT solutions play a crucial role in your preparation for all exams conducted by the CBSE, including the JEE.

NCERT TEXTBOOK QUESTIONS SOLVED

1. Define management.

Ans. Management is defined as a process of getting things done with the aim of achieving goals effectively and efficiently.
or
It is a process of designing and maintaining an environment in which individuals working in groups, can achieve selected objectives efficiently and effectively.

2. Name any two important characteristics of management.

Ans. Pervasive and Multidimensional.

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?

Ans. Ritu is working at the middle level. Her basic functions are (number of functions should be given according to the marks allotted for the question).
(i) Interpreting the policies formed by the top level management and acting as a link between top level management and operative management.
(ii) Assigning necessary duties to the employees.

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

Ans. Management is considered as a multi-faceted concept because it is a complex activity that has three main dimensions. These are
(i) Management of Work All organisations perform some work e.g., producing or selling. A work is defined as the goals to be achieved.
(ii) Management of People The main asset of an organisation is the human resources. This resource has to be managed in such a manner that it helps to achieve the goals of the organisations.
(iii) Management of Operations All organisations either produce a product or provide a service. This requires a production process which means using an operation to convert the inputs into the output, dt is interlinked with both management of work and management of output.

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

Ans. Basic features of management as a profession management as a profession has the following features which are as follows
(i) Well-defined Body of Knowledge All professionals are based on a well-defined body of knowledge that can be acquired through instruction.
(ii) Professional Association There are several associations of practicing managers in India, like the AIMA (All India Management Association) that has laid the code of conduct to regulate the activities of their members.
(iii) Service Motive All business organisations aim to provide good quality product or service at a reasonable price thus serving the society.
Thus, we can say management does not meet the exact criteria of a profession but it has some features as a profession.

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

Ans. Art is the skillful and personal applications of existing knowledge to achieve desired goal.
Management is considered an art due to the following reasons
(i) Existence of Theoretical Knowledge :All art subjects are based on theoretical knowledge e.g., written material is available on dancing, time arts, music etc same way there is lot of literature available on management and its branches – finance, marketing, human resource etc.
(ii) Personalised Application :The use of this basic knowledge differs from one individual to the other. Two painters, two dancers or two singers all use their knowledge in their own way. Same way two managers who have acquired the same knowledge may use it in their own different ways to get the work done.
(iii) Based on Practice and Creativity : All art is practical. It involves creative practice. The more we practice it better we become at it. It also requires creativity.
Same way a manager applies his acquired knowledge in a unique manner.
More practice makes him a better manager and he also develops his own style of management.
Management is an In-exact Science (i) Systematised Body of Knowledge :Science is a systematised body of knowledge. Its principles are based on cause and effect relationship, e.g., water evaporates on being heated. Same way management is a body stigmatised Knowledge. All managerial principles have cause and effect relationship.
(ii) Principles Based on Experimentation :Scientific principles are first developed through observation and then tested through repeated experimentation. Same way management principles are also propounded after observation and repeated experimentation.
(iii) Universal Validity :All scientific principles have universal validity. They give same result wherever applied.
Principles of management do not have Universal validity. They have to be adjusted and applied according to the need of the situation.
Thus, management is an in-exact science.

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

Ans. No, management does not possess all the characteristics of a full fledged profession. The reasons go as follows
(i) Well-defined Body of Knowledge All professions are based on a well-defined body of knowledge that can be acquired teaching-learning process. This feature of a profession is possessed by management as well. There is vast knowledge available on management in the form of definitions, concepts, theories, principles etc.
(ii) Restricted Entry All professions have a restriction or the entry of its practitioners. They have to acquire a specific degree to be professional e.g., LLB for a lawyer MBBS for a doctor etc. But a manager can be an MBA qualified or not.
(iii) Professional Association All professions are affiliated to a professional association which regulates entry, grants certificate of practice and formulates a code of conduct e.g., ail lawyers have to be a member of Bar Council to practice law. It is not compulsory for all managers to be a member of AIMA.
(iv) Ethical Code of Conduct All professions are bound by a ethical code of conduct which guides the behaviour of its members. But as it is not compulsory for all managers to be members of AIMA, they all may not be aware of the prescribed code of conduct of AIMA.
(v) Service Motive All basic motive to serve their client's interest, e.g., - lawyers to get justice for their clients, doctors to treat the patients etc. All managers also work in a manner where by they show their effectiveness and efficiency in the form of good quality goods provided to the customer at a reasonable price.
Thus, management possesses some characteristics of a profession but not all.

8. Co-ordination is the essence of management. Do you agree? Give reasons.

Ans. Co-ordination plays a vital role as it binds all the other functions of management. It is the common thread of all activities such as purchase, production, sales etc that runs through. Some of the basic features are as follows
(i) Integrates Group Efforts Co-ordination brings unity to all. It gives a common focus to group efforts.
(ii) Ensures Unity of Actions It acts as a binding force between departments and ensures that all action is aimed at achieving the goals of the organisation.
(iii) It is a Continuous Process Co-ordination is not a one time function but a continuous process. It begins at the planning stage and continues till controlling.
(iv) It is an All Pervasive Function Co-ordination is required at all levels of management due to the interdependent nature of activities of various departments. It integrates the efforts of different departments and different levels.
(v) It is the Responsibility of All Managers All managers need to co-ordinate something or the other. A manager of production department needs to co-ordinate the work within his department and also with the other departments at the same time.
(vi) It is a Deliberate Function Whatever the managers are doing in an organisation they are doing it knowingly. Co-ordination is one of the most important functions of all managers. Thus co-ordination is also done deliberately. Whatever the managers do, they do it deliberately to achieved the predetermined goals and objectives.
Thus, we can say co-ordination is the essence of managment after analysing these points.

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

Ans. "A successful enterprise has to achieve its goals effectively and efficiently”. Thus, management has to see that task are completed and goals are achieved with the minimum resources.
Management is thus getting things done with the aim of achieving goals effectively and efficiently. Being effective or doing work effectively basically means finishing the given task. It is concerned with end result, it is achieved or not. Efficiency means doing the work correctly and with minimum cost. If by using less resources more benefits are derived then efficiency has increased. It is thus essential for any organisation to focus on efficiency as well as effectiveness. It is not only important to complete the work correctly but equally important to complete it with minimum cost. In the same manner, it is not only important to reduce cost but equally important to complete the work correctly.

10. Management is a series of continuous inter-related functions. Comment.

Ans. Management is a series of continuous inter-related functions. Each one of them performed to guide and direct the efforts of others.
(i) Planning Planning is the primary function which runs through all other functions. It is the process of thinking before doing. It bridges the gap between where we are and where we want to go.
(ii) Organising It is the process of defining the formal relationship among people and resources to accomplish the desired goals. It involves
(a) Identification and division of work
(b) Departmentalisation
(c) Assigning of duties
(d) Establishing reporting relationships
(iii) Staffing Organisational goals can be achieved only through human efforts. It is the duty of management to make the best possible use of this resource. Thus, placing the right person on the right job is very important. Staffing helps management to motivate, select and place the right person on the right job.
(iv) Directing Directing involves leading, influencing and motivating employees to perform the tasks assigned to them. This requires establishing an atmosphere that encourages employees to do their best. Directing comprises of four elements; supervision, motivation, leadership and communication.
(v) Controlling Controlling is the management function of monitoring organisational performance towards the attainment of organisational goals. The task of controlling involves
(a) Establishing standards of performance
(b) Measuring current performance'
(c) Comparing this with established standards
(d) Taking corrective action

Post your comments

Your mobile number will not be published.

View Comments

  • A.Nikhil Goud
  • 2024-February-10 02:44:01
Good wedsite nice
  • Raj
  • 2024-January-01 08:18:08
Good website
  • Mdiqbal Mdiqbal
  • 2023-September-01 03:08:35
Use full
  • Bandapalli siva ganga Devi
  • 2023-July-27 08:30:58
Super solutions
  • D BALAJI
  • 2023-May-22 03:18:23
Clear explanation
  • M venkata bramha chowdhary
  • 2023-May-16 12:21:53
Results
  • Dumpa snehith
  • 2023-May-01 05:12:48
Ncert to prepare for eamcet or eapcer
  • Gauri
  • 2023-January-05 08:05:07
Sabse khrab
  • Gauri
  • 2023-January-05 08:04:53
Sabse khrab
  • Prajoal
  • 2022-November-07 13:08:18
Verry good app
  • Preethi kumarK
  • 2022-April-04 08:42:37
I will very happy to sovle this mcqs
  • PradeepGupta
  • 2022-March-08 10:49:21
Super
  • Ashwani kumar
  • 2022-March-02 09:58:15
Nice
  • Ashwani kumar
  • 2022-March-02 09:58:04
Nice
  • Zyan safi
  • 2022-February-15 08:53:24
Nice
  • Zyan safi
  • 2022-February-15 08:53:12
Nice
  • Priyanshi
  • 2022-January-29 08:22:35
Thanks sir
  • Naria
  • 2022-January-24 09:11:38
Nice
  • ningu
  • 2022-January-08 08:56:50
good work sir
  • hs
  • 2021-December-06 08:44:35
good
  • prabhakar
  • 2021-November-05 13:29:34
How to download this
  • Dharmen
  • 2021-October-04 08:45:08
How to download
  • Anubhav
  • 2021-September-27 08:41:42
Math all chapter MCQ best
  • NIL
  • 2021-September-13 17:54:25
GOOD
  • Anjali
  • 2021-September-03 11:32:35
Ncert miscellaneous question pdf
  • Manjeet manjhi
  • 2021-September-02 08:25:59
Super
  • Karanveer Kaur
  • 2021-August-07 17:05:48
10 class workbook English answer
  • P.Ashrafbaig
  • 2021-August-06 17:34:20
My results How to check my 10th results
  • Asish Kumar sahu
  • 2021-July-30 15:35:38
Pls sir show my result my admit card is missing so I request you plz show my result
  • Varsha
  • 2021-July-29 14:58:13
This app is so..good it makes is understand better as we had seen many app with only answer we will not understand the method what they have done.....
  • Anupam
  • 2021-July-29 11:47:07
super
  • Lavanya vishawas Sonavale
  • 2021-July-28 08:23:33
Nice
  • Sudha
  • 2021-July-21 08:33:01
Super cute
  • Matruprasad nath
  • 2021-July-19 08:35:09
plese give me the answer for above question
  • Abhiram
  • 2021-July-17 10:49:18
8th class Telugu and maths social PDF text books
  • Abhiram
  • 2021-July-17 10:48:31
8th class Telugu and maths social PDF text books
  • Abhiram
  • 2021-July-17 10:48:21
8th class Telugu and maths social PDF text books
  • Aman
  • 2021-July-16 17:54:57
Nice
  • Patil yasvitah
  • 2021-July-15 08:48:58
S the practice question papers clasfrom foranothers districts of Karnataka 10th MCQ pattern 2021 exam 40 marks
  • Ajay
  • 2021-July-10 15:13:43
Basic questions
  • Nikki
  • 2021-July-03 16:36:13
How to download this pdf
  • Murali
  • 2021-June-29 17:38:23
How to get free download
  • Murali
  • 2021-June-29 17:38:23
How to get free download
  • Murali
  • 2021-June-29 17:38:13
How to get free download
  • Kurmapu rohini
  • 2021-June-26 17:51:15
How to download
  • Yashvanth
  • 2021-June-25 08:55:48
S PDF
  • Bhoomi
  • 2021-June-22 10:27:13
Nice this content is very helpful ....thnx a lot ..and pls expand the question there is only 58 which is less for class 10
  • Omkar
  • 2021-June-21 18:23:37
How to download
  • tanya shukla
  • 2021-June-14 09:27:07
hello thankyou so much it really helped me in my exam...........
  • Ranjith
  • 2021-June-11 09:43:25
Good
  • R sudha
  • 2021-June-05 18:16:47
Good
  • Urvi
  • 2021-April-08 13:34:59
Teacher
  • Rohit
  • 2021-April-06 08:36:53
Nice
  • HARSH RAJPUT DEVSARIYA 🙏🙏🙏🙏
  • 2021-March-04 14:03:46
Thanku for giving All chapter MCQ thanku you very much
  • Rakesh
  • 2021-February-18 08:58:15
I need 2019 10 Class Batch Results
  • Daripalli ramu
  • 2021-January-15 17:59:04
Super
  • Subash Gond
  • 2020-December-31 08:20:16
McQ question all chapter
  • Vandna
  • 2020-December-28 16:35:55
What,where and how lesson 1 class 6 pdf
  • Yuvraj yadav
  • 2020-December-19 09:45:44
Hi
  • Manasa
  • 2020-December-11 12:17:15
Good
  • Gundi.sonia
  • 2020-December-07 11:59:59
Hii
  • Dhanam jay
  • 2020-December-05 10:33:16
Very nice
  • Tanveer
  • 2020-December-02 14:50:15
Political Science question solution
  • Trilok
  • 2020-November-09 12:54:21
I like
  • Anshu poonia
  • 2020-October-24 15:03:52
Superb
  • Ranjan Baruah
  • 2020-October-22 09:02:59
Thank sir
  • MATHURAM
  • 2020-October-14 12:52:51
Need notes
  • Yadnyesh ubhad
  • 2020-October-12 08:42:03
So nice answer
  • Anusha chettri
  • 2020-October-09 13:21:16
Hello
  • Anusha chettri
  • 2020-October-09 13:20:28
Hello
  • Jasmita Naik
  • 2020-September-15 12:24:24
Thank you very much.... Sir we need more help from you.... From other subject also we need like this questions.. So please sir kindly help us through uploading questions from science... Please sir
  • Jasmita Naik
  • 2020-September-15 12:24:22
Thank you very much.... Sir we need more help from you.... From other subject also we need like this questions.. So please sir kindly help us through uploading questions from science... Please sir
  • Mohini
  • 2020-September-01 09:39:49
Kitne time se
  • Rajudutta
  • 2020-August-29 09:08:57
Excellent and reliable apps
  • SALMAN
  • 2020-August-28 09:54:17
I WANT 2019 ENGLISH CBSC CLASS 3RD COURSE BOOK SYLLABUS AND SOLUTIONS
  • ULRICA
  • 2020-August-20 18:23:29
It
  • Rishabh Kumar
  • 2020-August-20 12:06:16
Please give me
  • Chandra shekar
  • 2020-August-17 18:16:29
Mandasa
  • p.harshavardhan
  • 2020-August-17 09:41:40
Ok
  • Charchit
  • 2020-August-15 09:24:13
Yes they are all question are main
  • Muthalagu
  • 2020-August-10 13:04:53
10 A class
  • Vadde madhu
  • 2020-August-09 13:05:59
Hallo
  • Veeranna
  • 2020-August-04 18:04:29
1:1 2004
  • Eslavath Kalyan
  • 2020-July-29 13:13:11
Komatipalli kesamudram
  • Gumma pavan kalyan
  • 2020-July-27 19:15:47
Hall ticket
  • Rajudutta
  • 2020-July-21 14:09:35
Excellent solutions and easy to learn.
  • VAGEESHA
  • 2020-July-17 12:42:54
NICE JOB
  • Syed sayeed saaqib
  • 2020-July-17 09:17:31
10 th class marks
  • P.fairoz khan
  • 2020-July-17 09:17:26
My SSC result
  • Gangavarapu Ashok Reddy
  • 2020-July-16 18:48:26
10 the class 2020 markas
  • Kusi Mani kumaR
  • 2020-July-16 13:12:26
2008125010
  • suhailhajam
  • 2020-July-16 13:12:18
plz kindly MCQ question s
  • suhailhajam
  • 2020-July-16 09:23:15
plz kindly MCQ question s
  • Koripalli. Bindu ramya
  • 2020-July-16 09:23:07
Inter results second year
  • Faizan
  • 2020-July-15 19:05:41
Beautiful
  • K. Umesh Chandra
  • 2020-July-15 19:05:34
Please release 10th results
  • Surra naidu
  • 2020-July-15 18:11:06
S me result
  • Lakpathi
  • 2020-July-15 18:10:58
Cbse resuls
  • S.sravani
  • 2020-July-15 18:10:50
CBSE 10th class result
  • Gundrathi Mohan
  • 2020-July-15 18:10:35
S me results
  • Gundrathi Mohan
  • 2020-July-15 12:58:21
S me results
  • suhailhajam
  • 2020-July-15 12:02:02
plz kindly MCQ question s
  • chandar
  • 2020-July-15 12:01:55
chan
  • suhailhajam
  • 2020-July-15 09:56:17
plz kindly MCQ question s
  • Kaustab Roy
  • 2020-June-29 08:44:49
I want to explore everything
  • Anup
  • 2020-June-16 19:51:29
Workbook unit 1 exercise solution
  • Khushdeep Kaur
  • 2020-June-15 09:19:07
I want pdf of MCQ class 10th C.B.S.E
  • Saddam
  • 2020-June-09 15:24:13
Kindly s me 10 maths mcq question answer
  • SADDAM
  • 2020-June-08 14:24:07
SEND ME
  • Bed prakash
  • 2020-June-01 09:44:40
Mera result
  • palla sivaram
  • 2020-April-21 13:55:32
haiii
  • Dany
  • 2020-March-07 16:10:18
NCERT Solutions Very Good I Like It
  • laxman
  • 2020-February-17 15:31:16
good
  • Bhanusam.manjula
  • 2019-August-17 12:35:47
Ssc 2007batch regular halltichet number
  • Ramu
  • 2019-July-31 12:35:35
NCERT Solutions
  • Kalamata gowriswari
  • 2019-June-17 17:57:24
Open 10th result 2019ap
  • Nagra rayal
  • 2019-May-17 10:35:13
Yappudu 10th reselts
  • Yanati nagarani
  • 2019-May-17 10:20:31
10th result
  • NAGESWARA
  • 2019-May-11 18:30:50
How can see ssc ap 10th results
  • m.kalyani
  • 2019-May-11 18:30:36
10th result
  • Naveen
  • 2019-May-10 13:17:17
10th results
  • Sri kesav
  • 2019-May-10 09:58:50
Please tell me the correct date of AP ssc results
  • K. Sudhakar
  • 2019-May-10 09:58:43
Plz 10th result
  • V pawan durga sriniva
  • 2019-May-07 14:24:49
Please 10th cbsc results
  • V pawan durga sriniva
  • 2019-May-07 14:24:39
Please 10th cbsc results
  • Charan
  • 2019-May-07 14:24:21
Result ssc
  • Ayesha
  • 2019-May-07 14:24:17
At. What time did exam results will come?
  • Vadithya suresh
  • 2019-May-04 14:44:06
Results
  • VANKUDOTH pavan kalyan
  • 2018-May-30 10:16:07
Results
  • C H VAISHAVI
  • 2018-May-29 18:18:18
Cbse result by name
  • varunsai sanne
  • 2018-May-29 16:00:17
Xth results 2018
  • varunsai sanne
  • 2018-May-29 15:44:24
Xth results 2018
  • Yalagala Srihari
  • 2018-May-29 13:04:27
Exam results
  • Alpesh Dhamale
  • 2018-May-29 11:36:50
Nice article my baby wait for exam result i hope this year pass percentage may be increase
  • m. mohan rao
  • 2018-May-28 11:03:47
hi, s me cbse 10 class 2018 results
  • akshaya
  • 2018-May-26 10:22:07
at what time resilts are going to today
  • Velupala Ashwarya
  • 2018-May-15 11:01:52
My result
  • Ramu
  • 2018-May-12 16:09:34
good information