Wednesday, 22 May 2019

CBSE Class 12 - Business Studies - Principles Of Management - Question and Answers (#class12BusinessStudies)(#cbsenotes)(#eduvictors)

Principles Of Management 

Question and Answers
Class 12 - Business Studies 

CBSE Class 12 - Business Studies - Principles Of Management - Question and Answers (#class12BusinessStudies)(#cbsenotes)(#eduvictors)

Q1: Describe the concept of principles of management?

Answer
It is broad and general guideline for managerial decision making; are different from principles of science as they deal with human behaviour; are different from techniques of management as techniques are method whereas principles are guidelines to action and decision making; are different from values which are formed as generally accepted behaviour in society and having moral coordination where as principles are formed through research having technical nature. 


Q2: What is the nature of Principles of Management?

Answer
The nature of principles of management can be described in the following points:
  • Universal applicability i.e. they can be applied in all types of organizations 
  • General Guidelines to action which however do not provide ready made solutions as the business environment is very changing or dynamic. 
  • Formed by practice and experimentation.
  • Flexible which have to be modified by the practicing manager as per the demands of the situations. 
  • Mainly Behavioral since the principles aim at influencing human behavior. 
  • Cause and Effect relationship which can be used in similar situations in a large number of cases. 
  • Contingent as their applicability depends upon the prevailing situation. 

Q3: What is the significance of Significance of the Principles of Management?

Answer: The significance of principles of management can be derived from their utility which can be understood from the following points:
  1. Providing managers with useful insights into reality. 
  2. Optimum utilization of resources and effective administration. 
  3. Scientific decisions. 
  4. Meeting the changing environmental requirements. 
  5. Fulfilling social responsibility. 
  6. Management training, education and research. 

Q4: What are the techniques of Scientific Management? Explain in detail.

Answer: Techniques of Scientific Management are:
  • Functional Foremanship 
  • Standardization and Simplification of Work 
  • Method study
  • Motion Study 
  • Time-Study
  • Fatigue Study and 
  • Differential Piece Wage System. 
Functional Foremanship:
Functional Foremanship is a technique in which Planning and Execution are separated. There are 8 types of specialized professionals 4 each under planning and execution who keep a watch on all workers to extract optimum performance. 

Standardization and Simplification:
Standardization refers to developing standards for every business activity whereas Simplification refers to eliminating superfluous varieties of product or service. 

Method Study:
Method study aims to find one best way to do a job. 

Motion Study:
Motion study seeks to eliminate unnecessary motions in the execution of a job to enable it to be completed in less time efficiently. 

Time Study:
Time Study determines standard time taken for a well defined job. 

Fatigue Study:
Fatigue study seeks to determine amount and frequency or rest intervals in completing a task.

Differential Piece Wage system:
 Differential Piece Wage system seeks to reward a more efficient worker by giving him/her more wages for more quantity of standard production achieved. 


Q5: What is the Foyal's Principles of Management?

Answer: Henri Fayol (1841-1925) was a French Mechanical engineer who gave 14 general principles of Management. See Foyal's 14 Principles of Management


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