Class 12 - Business Studies - CH3: Business Environment (Short Q and A)

Business Environment

Very Short Q & A 

Dimensions of Business Environment

Q1: Define Business Environment

Answer: The totality of all individuals, institutions and other forces that are outside a business enterprise but that may affect its functioning and performance.

Q2: Give one importance of business environment?

Answer: It enables the firm to identify opportunities & getting the first movers advantages.

Q3: Which environment describes characteristics of the society in which the organization exists?

Answer: Social Environment

Q4:How have customers benefited by increased competition after liberalisation and globalisation?

Answer: At the time of purchase customers get a wider choice of products and services. They can compare quality of the products.

Q5: List any two elements of political environment?

Answer:

CBSE Class 12- Business Studies - CH2 - Principles Of Management Very Short Q and A

Principles Of Management

Short Q & A

F Taylor - who proposed
scientific management theory
credits: wiki

Q1: What is meant by Management principles?

Answer: Management principles are broad and general guidelines for decision making and behaviour. These are those basic truths which have the ability to predict the result of the managerial activities.

Q2: How are the principles developed?

Answer: These are developed on the basis of observation and experimentation as well as personal experiences of the managers.

Q3: Why is it said that the principles of management are universal?

Answer: Because these principles are intended to apply to all types of organisations, business as well as non-business, small as well large, public sector as well as private sector, manufacturing as well as the services sectors.

Q4: Why are the principles of management are considered contingent?

Answer: The application of principles of management is contingent or dependent upon the prevailing situation at a particular point of time. The
application of principles has to be changed as per requirements.

Q5: Why is it said that principles of management are flexible?

Answer: This is because they can be modified by the managers when the situation so demands.

Q6: The principles of management aren't rigid and can be modified when the situation demands. Which nature of principles is being discussed here?

Answer: Flexibility.

Q7: Which principles of management promotes team spirit?

Answer: Esprict De Corps.

Q8: State one violating effect of the principle of ‘Division of work’.

Answer: Lack of specialization.

Q9: Define scientific management.

Answer: It is the application of a scientific approach to managerial decision making.

Q10: Who was the first to identity functions of management?

Answer: Henri Payol

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.