CBSE Class 12 - Business Studies - Chapter 6 - Staffing (Questions and Answers) (#cbsenotes)(#eduvictors)

Staffing 

Questions and Answers

Q1: What is staffing?

Answer: Staffing consists of Manpower planning, recruitment, Selection, training, compensation, promotion and Maintenance of Managerial Personnel. It is concerned with bringing right and efficient people in the organisation.


Q2: What is the need for staffing? 

OR

Describe the importance of staffing.


Answer:

Need and Importance of Staffing

1. Obtaining Competent Personnel: 
Proper staffing helps in discovering and obtaining competent personnel for various jobs.

2. High Performance: 
Proper staffing ensures higher performance by putting the right person in the right job.

3. Continuous Growth: 
Proper staffing ensures continuous survival and growth of the enterprise through succession planning for managers.

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.

CBSE Class 12 - Business Studies - What is Organizing and its importance? (Q and A) (#cbsenotes)(#eduvictors)

Organizing and its importance

(Q and A)

Q1: Define organising.

Answer: Organising can be defined as a process that initiates implementation of plans by clarifying jobs, working relationships and effectively deploying resources for attainment of identified and desired results.

Therefore, it is a process, which coordinates human efforts, assembles resources and integrates both into a unified whole to be utilized for achieving specified objectives.


Q2: What is the significance of organising as a function to management?

Answer: Organising as a function to management leads to—

• Creation of organisational structure with suitable personnel.

• Designing specific roles to eliminate ambiguity.

• Defining inter-relationship among personnel for productive cooperation.

• Clarifying authority and responsibility for results and logical grouping of activities.

CBSE Class 12 - Business Studies - Instruments of Money Market (#cbsenotes)(#eduvictors)

Instruments of Money Market

The money market is the arena in which financial institutions provide a broad range of borrowers and investors the opportunity to buy and sell various forms of short-term securities.

INSTRUMENTS OF MONEY MARKET

1. Treasury Bill (T-bills):
It is basically an instrument of short-term borrowing by the Government of India maturing in less than one year. They are also known as Zero coupon bonds.

2. Commercial Paper: 
It is a short-term unsecured promissory note, negotiable and transferable by endorsement and delivery with a fixed maturity period. It is issued by large and creditworthy companies to raise short-term funds at lower rates of interest than market rates. It usually has a maturity period of 15 days to one year.

CBSE Class 12 - Final Examination Date Sheet - (2017-18) (#eduvictors)(#cbsenotes)

CBSE Class 12 - Final Examination Date Sheet - (2017-18)

CBSE Class 12 - Business Studies - Business Environment - GOI Economic Policy Changes Since 1991 (#cbseNotes)

Business Environment -
GOI Economic Policy Changes Since 1991

Question: Explain the changes initiated by the government of India since 1991?

Answer: Following changes have been observed since 1991:
⒈ New industrial policy
⒉ New trade policy
⒊ Fiscal reforms
⒋ Monetary reforms
⒌ Capital market reforms


1. New industrial policy
A. Government has begun disinvesting in public sector undertaking
B. There are new schemes to attract foreign direct investment (FDI).
C. There is promoting clearance of foreign investment proposals.
D. Tax concession is given to units in special economic zones (sezs).
E. There is broadband facility in telecom sector
E. Abolition of industrial registrations scheme.

CBSE Class 12 - Business Studies - Sample Question Paper - (2017-18) (#cbsePapers)

CBSE Class 12 - Business Studies - Sample
Question Paper - (2017-18)

CBSE Class 12 - Business Studies - Ch4 Directing (Practice Test) (#cbseNotes)

PRACTICE TEST

SUBJECT: DIRECTING
(BUSINESS STUDIES)

Max. Time : 50 min. M.M. 25

1. Supervision needs effective communication in the organisation. Comment. 1

2. How does communication help in increasing managerial efficiency? 1

3. What is Laissez-faire leadership style? 1

4. "Resistance from people to introduce changes in the organisation can be removed through motivation". Explain.
1

Class 12 - Business Studies - Fayol s Principles of Management (#cbseNotes, #class12BusinessStudies)

Business Studies - Fayol's Principles of Management

Henry Fayol (1841-1925) got a degree in Mining Engineering and joined French Mining Company in 1860 as an Engineer. He rose to the position of Managing Director in 1988. When the company was on the verge of bankruptcy. He accepted the challenge and by using rich and broad administrative experience, he turned the fortune of the company.

For his contributions, he is well known as the “Father of General Management”.


He gave 14 general principles of Management which are as under:

⑴ Division of Work
⑵ Authority and Responsibility
⑶ Discipline
⑷ Unity of Command
⑸ Unity of Direction
⑹ Subordination of Individual Interest to General Interest
⑺ Remuneration of Employees
⑻ Centralization and Decentralization
⑼ Scalar Chain
⑽ Order
⑾ Equity
⑿ Stability of Personnel
⒀ Initiative
⒁ Espirit De Corps

CBSE Class 12 - Business Studies - NATURE AND SIGNIFICANCE OF MANAGEMENT (Important Points) (#cbseNotes)

NATURE AND SIGNIFICANCE OF MANAGEMENT (Important Points)

1. Management is the art of getting things done through others in formally organised
groups for the accomplishment of organisational objectives.

2. For management it is important to be both effective and efficient. Effectiveness is
qualitative whereas efficiency is quantitative.

3. Characteristics of management include:
(a) It is a goal-oriented process
(b) it is all pervasive
(c) it is multidimensional as it includes management of work, people and operations
(d) it is a continuous process
(e) group activity
(f) dynamic function
(g) intangible force.

4. Importance of management:
(a) helps in achieving group goals
(b) increases efficiency
(c) creates a dynamic organisation
(d) helps in achieving personal objectives
(e) helps in the development of society.

CBSE Class 12 - Business Studies - Question Paper Delhi Region - Answers (2016-17) (#cbseNotes)

CBSE Class 12 - Business Studies  - Question Paper Delhi Region - Answers (2016-17) 

BUSINESS STUDIES DELHI – 2016-17 (Set-1) Answers

☛See Question Paper here.

Q. Give the meaning of ‘motivation’ as an element of directing.

Answer: Motivation means stimulating people to act in a desired manner to achieve certain organisational goals.


Q. Differentiate between ‘formal’ and ‘informal’ organisation on the basis of ‘origin.’

Answer: Formal organisation originates as a result of company’s rules and policies while an informal
organisation originates as a result of social interaction.


Q. Why is ‘employment interview’ conducted in the process of selection?

Answer: Employment Interview is conducted to evaluate the applicant’s suitability for the job.

CBSE Class 12 - Business Studies - Features Of Planning (#CBSENotes)

Features Of Planning

Business Studies

⑴ Planning focuses on achieving objectives:
Planning has no importance unless it contributes to the accomplishment of predetermined organizational goals.


⑵ Planning is a primary function of management:
Planning lays down the base for other functions of management. Planning precedes other functions. It goes before different capacities.


⑶ Planning is pervasive:
Planning is required at all levels of management as well as in all departments of the organization. It is not an exclusive function of top management.

CBSE Class 12 - Business Studies - Question Paper Delhi Region - (2016-17) (#cbsePapers)

CBSE Class 12 - Business Studies  - Question Paper Delhi Region - (2016-17) 

CBSE Class 12 - Business Studies - Chapter 3 - Importance Of Business Environment (#cbseNotes)

Importance Of Business Environment

Class 12 - Business Studies

Question: What is the importance of Business Environment?


Answer:

① Identification of opportunities to get first mover advantage:
Understanding of business condition helps an association in recognizing favorable open doors and getting their advantages preceding rivals and ,competitors in this way receiving the rewards of being a pioneer. It helps the business enterprises for meeting the challenges successfully.


② Identification of threats:  
Correct and revised information of business environment causes an organisation to distinguish those dangers which may antagonistically influence its operations. For instance, Bajaj Auto made impressive enhancements in its  bikes when Honda and different MNCs entered the vehicle business.

CBSE Class 12 Business Studies -Syllabus (2017-18) (#cbseNotes)

Business Studies -Syllabus (2017-18)

CBSE Class 12 Business Studies

Here presents the prescribed syllabus for Class 12 Business Studies for the curriculum 2017-18.

Class 12 - Business Studies - CH 12 Consumer Protection - Redressal Agencies (#cbsenotes) (#Class12BusinesStudies)

Redressal Agencies

Consumer Protection 

Class 12 - Business Studies 


Question: What are different redressal agencies available for consumer grievances under Consumer Protection Act, 1986?


Answer: For the redressal of consumer grievances the act provides a three–tier machinery as:

① District Forum
② State Commission
③ National Commission

① District Forum
District forum is set up in each district by the state concerned. The important features are:

⒜ It consists of a President and two members, one of whom should be a woman, duly appointed by State Government.

CBSE Class 12 - Business Studies Sample Question Paper (2016-17) and Marking Scheme (#cbsepapers)(#cbseClass12BStudies)

CBSE Class 12  - Business Studies Sample Question Paper (2016-17) + Marking Scheme

☛See Business Studies Sample Question Paper 2016

CBSE Class 12 Business Studies - Planning (Q and A) (#cbsenotes) (#Class12BusinessStudies)

Planning

CBSE Class 12 

Business Studies

Q & A

Q1(CBSE 2012): Name the type of plan which is time bound and linked with a measurable outcome.    

Answer: Objective/ Budget.


Q2(CBSE 2010): Name the type of plan which is in the form of general statements and channelise energies towards a particular direction.

Answer: Policies are a general statement that guides thinking or channelize energies towards a particular direction.


Q3: Which type of plan has the least flexibility and why?

Answer: Rules are enforced sternly and strictly. As such there are no exception or deviations that are allowed. For rules, the managers have no scope for the discretion.

Class 12 - Business Studies - Different Types of Plan

Different Types of Plan

Question: What is a business plan?

Answer: A detailed written statement that describes the nature of the business, the target market, the advantages the business will have in relation to competition, and the resources and qualifications of the owner(s).It is a document that outlines how goals are going to be met.

Different Types of Plan:

Plans are made based on Strategic planning, tactical planning, operational planning and contingency planning.

CBSE Class 12 Business Studies - Capital Market vs Money Market

Capital Market vs Money Market

Important Differences

Basis	Capital Market	Money Market
1. Participants	Individual Investors, Financial Institutions, Banks, Foreign Investors, Corporate Groups etc.	reserve Bank Of India, Commercial Banks, Financial Institutions, Mutual Fund Houses, Corporate Groups. Individual Investors are not allowed to participate.
2. Instruments Traded	Bonds, Debentures, Equity Shares, Preference Shares etc.	Commercial Papers, Treasury Bills, Certificates of Deposits etc.
3. Investment Outlay	Value of units of security is low, t does not require huge financial outlay.