CBSE Class 12 - Business Studies - CH1 - Nature and Significance of Management (V. Short Q-A)

Nature and Significance of Management

Very Short Q & A

Q1: Define the term 'Management'.

Answer:  Management is the  function of getting things done through people and directing the efforts of individuals towards a common objective. It is the process of conducting a set of function (planning, organizing, staffing, directing and controlling) to get the work done in an efficient and effective manner.

Q2: Which force has consisted of the essence of management?

Answer: Co-Ordination.

Q3: Why is it said that management is all-pervasive?

Answer: It is said management is all-pervasive because it is required in all spheres of business or non-business organization. Management is essential for all organisations big or small, profit or non-profit, services or manufacturing.

Q4: List the four objectives of the management.

Answer: Objectives of Management are:

• Achieve maximum output with minimum efforts.
• Optimum use of resources
• Maximum prosperity
• Human betterment and Social Justice.

Q5: "Doing the task with minimum cost" name the term associated with management?

Answer: Efficiency

Q6: Which characteristic of management is signified by the following statement?
       Statement: In organization employees are happy and satisfied (there is no chaos and effect of management is noticeable.

Answer: It signifies management is an intangible force.

Q7: "In order to be successful, an organization must change its goals according to the needs of the environment." Whish characteristics of management are highlighted in this statement?

Answer: It highlights that management is dynamic functioning.



Q8(NCERT): Name any two important characteristics of management.

Answer: Pervasive and Multidimensional

Q9(NCERT): 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?

Answer: Ritu is working at the middle level Her best functions are:

1. Interpret the policies formed by the top-level management and acting as a link between top-level management and operative management,
2. Assign necessary duties to the employees.

Q10: Which function of management is bridging the gap between where we stand today and where we want to reach.

Answer: Planning.


Q11: Who is known as the Father of Modern Management Theory?

Answer: Henry Fayol.

Q12: To meet the objectives of the firm the Management of ABC Ltd., offers employment to a physically challenged person. Identify the organization and objective it is trying to achieve?

Answer: It is a social objective.

Q13 (MCQ): Which is not a function of management of the following?

(a) Planning
(b) Staffing
(c) Co-operating
(d) Controlling

Answer:(c) Co-operating

Q14(MCQ): Management is:

(a) an art
(b) a science
(c) Both art and science
(d) Neither

Answer: (c) Both art and science

Q15: "Management is an art and science." Justify the statement.

Answer:
Management as a science:
     i. Systematic body of Knowledge
     ii. Principles are based on repeated experiments

Management as an Art:
     i. Existence of theoretical Knowledge
     ii. Application of Knowledge


Q16(MCQ): The following is not an objective of management

(a) earning projects
(b) growth of the organisation
(c) providing employment
(d) policymaking

Answer:(d) policymaking


Q17: Why is coordination known as the essence of Management?

Answer: Co-ordination known as the essence of Management because it is not a separate function of Management rather it forms a major part of all the other functions of Management.


Q18: Why is Management considered a soft science?

Answer: Management is a soft science as its principles are not very rigid.


Q19: What is PODSCORB?

Answer: Luther Gullick gave the keyword PODSCORB which stands for Planning, Organising, Directing, Staffing, Co-coordinating, Reporting and budgeting.

Q20(CBSE): Mr Anil working as a ‘Sales department Head in XYZ Ltd. Name the level of Management he is working? Explain Any two functions performed by him?

Answer: He is working at Middle-Level Management.
Functions at Middle-Level Management:
         1. Determining the objectives of the enterprise
         2. Assembling all the resources such as finance, fixed