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

Which principle of management is violated in following situations:(a) When a worker receives orders from more than one boss?(b) When the employee is given responsibility to achieve target production of 500 units with no authority to access over raw materials?(c) When worker is wasting time in search of tool box in the organisation?(d) When manager grants one month medical leave to a supervisor with pay and only one week medical leave to accountant?

State two product-related and two market-related factors affecting choice of channels of distribution.

What are the main basis of setting standards?

What is meant by ‘Business Environment’? Explain ‘Dynamic nature’ and ‘Uncertainty’ as features of Business Environment.

Give the full form of the following abbreviations.

1. NSEI.
2. OTCEI.
3. NASDAQ.

Sandhya is a successful manager at Manisons Enterprises. She has a team of twelve people working under her. She encourages them to set their own objectives and take decisions. She respects their opinions and supports them, so that they can perform their duties and accomplish organisational objectives. To manage and exercise effective control she uses forces within the group.
As an intelligent manager, at times, she also makes use of positive aspects of informal communication. This way, she is able to unify diverse interests and ensure that targets are met.

1. There are many theories and styles of influencing people’s behaviour. Identify the style used by Sandhya which is based on the use of authority.
2. State two positive aspects of the communication discussed above, which Sandhya is using as an intelligent manager.

Briefly, explain any three objectives of marketing management.

Give the meaning of delegation of authority.

Distinguish between training and development.

'Environment provides both constraints and opportunities'. Comment.