Nature and Significance of Management — Business Studies STD 12 Commerce — Question

What is the main focus of management?

How can extent of competition in market affect price determination?

Suman bought a box of cheese of a reputed brand from a local shopkeeper. On opening the box she found a piece of stone in the cheese. She reported the matter to the shopkeeper who forwarded her complaint to the concerned company. Within a week the representative of the company visited Suman’s residence with an apology and as a replacement offered her a new cheese pack with four other varieties of cheese as compensation for the inconvenience to her.State the consumer right which Suman exercised.

Identify why the requirements of Fixed Capital for a trading concern are different from that of a manufacturing organisation.

The degree of centralisation or decentralisation will depend on the situations and circumstances of each enterprise. State the nature of management principles being highlighted here.

What do you understand by the universality of principle of management?

The manager of Alpha Ltd. is very efficient and effective and makes sure all the employees and workers in his team perform the task on time with minimum cost. His main focus is on cost cutting so he never listens to the demand of workers for increasing wages. He even gives no opportunity to worker for promotion. As a result workers started becoming frustrated and disheartened all the time.(a) Which objective of management could not be achieved by the manager.(b) State other two objectives of management.

State any one objective of standardisation of work.

What is the objective of ‘Medical Examination’ as one of the steps of selection process?

Why are reference and background checks done in selection process?