CBSE CLASS 12 - Business Studies - NATURE AND SIGNIFICANCE OF MANAGEMENT (Q and A) (#cbsenotes)(#class12BusinessStudies)(#eduvictors)

NATURE AND SIGNIFICANCE OF MANAGEMENT(Q & A)

Q1: Explain the meaning of management. What do you mean by managers?

Answer: Management is a process of getting things done with the aim of achieving desired common goals effectively and efficiently persons engaged in performing the functions of the management are known as managers. In other words, those managing the organisational resources for releasing its goals are known as managers.


Q2: ‘Management is a process’ Explain?

Answer: Management includes various steps such as planning, organising, staffing, directing and controlling. This process begins with those at the top of the organization and continues to varying degrees at almost every level of the organisation. These inter-related steps help to achieve organisational goals in an effective manner. That is why management is known as the process of employing and organising resources to accomplish predetermined objectives.




Q3: ‘Management is multi-dimensional’. Explain?

Answer: Management is a complex activity and involves following three main dimensions -

i) Management of works

In each and every organisation, a certain type of work is to be performed. In school, overall development of a child is to be done; in hospitals, patients are treated etc. Management converts these works into goals and devises the means to achieve them.

ii) Management of People.

Management is concerned with “getting things are done through people”, which is a very difficult task. All the employees have different personalities, needs backgrounds and methods of work. Thus, it becomes management’s job to make them work as a group by giving common direction to their efforts.

iii) Management of operations.

In order to survive, each organisation has to provide certain goods or services. This involves production process thus, management of operations is interlinked with both the above dimensions viz., management of work and the management of people.


Q4: What are the personal objectives of the management?

Answer: Personal objectives refer to the objectives which are related to the employees of an organisation. They are as follows:

i) Financial needs like competitive salaries, incentives and other monetary benefits.
ii) Social needs like recognition in the organisation.
iii) The higher level need which includes personal growth and development.

Q5: Enumerate the importance of management.

Answer: Following points are the importance of management.
i) Management helps in achieving group goals.
ii) Management increase efficiency
iii)   Management creates a dynamic organisation.
iv) Management helps in achieving personal objectives.
v) Management helps in the development of society.


Q6: What do you mean by level of management?

Answer: Levels of management means the hierarchy of organisation representing the relationships among managers and subordinates on the basis of their relative authority, status and responsibility.

There are three levels in the hierarchy of an organisation viz.
(i) Top management
(ii) Middle management and
(iii) Supervisory or operational management.


Q7: Define co-ordination. Enumerate the features of coordination?

Answer: Coordination is an orderly arrangement of group efforts to maintain harmony among individuals’ efforts towards the accomplishment of common goals of an organisation.

Features of co-ordination

i)   It integrates group efforts.
ii)  It unifies the action.
iii) It is a continuous process.
iv)  It is an all-pervasive function
v)   It is the responsibility of all managers.
vi)  It is a deliberate function.


Q8: What is the importance of coordination?

Answer: Importance of coordination is:
• Ensures unity of action
• Erases interdepartmental conflicts
• Promotes harmonious implementation of plans
• Helps in maintaining a high degree of morale amongst employees


Q9: Write three points supporting that nature of Management is
i) an art
ii) a profession
iii) a science.

Answer:
NATURE OF MANAGEMENT
As an art:
• The existence of theoretical knowledge.
• Developed through a Practical and creative process.
• Personalised application and skill

As a Profession:
• A well-defined body of knowledge.
• The existence of a code of conduct
• Professional association (AIMA)
• Restricted entry
• Fees as remuneration for their services

As a Science:
• Arranged, organised systematic body of knowledge
• Universal validity
• Principles arrived at after experimentation


☛See also:
CH1: Nature and Significance Of Management (Short Q & A)
CH1: Nature and Significance of Management (Important Points)
CH1: Nature and Significance Of Management (Q & A)

CH2: Principles of Management (V. Short Q &A)
Ch3: Fayol's 14 Principles of Managment