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

State the steps in the organizing process.

Explain the concept and the objective of Financial Management.

Atul-The Assistant Manager, Vikas-the Marketing Head and Leena-The Human Resource Manager of ‘Montac Enterprises Ltd.’ decided to leave the company.
The Chief Executive Officer of the company called the Human Resource Manager, Leena and requested her to fill up the vacancies before leaving the organisation. Leena suggested that her subordinate Miss Rama Wadhwa is very competent and trustworthy, if she could be moved up in the hierarchy, she would do the needful. The Chief Executive Officer agreed for the same. Miss Rama Wadhwa contacted ‘Smith Recruiters’ who advertised for the post of marketing head for ‘Montac Enterprises Ltd’. They were able to recruit a suitable candidate for the company. Atul’s vacancy was filled up by screening the database of unsolicited applications lying in the office.

(1) Name the internal/external sources of recruitment used by ‘Montac Enterprises Ltd.’ to fill up the above-stated vacancies.

(2) Also state anyone merit of each of the above-identified source of recruitment.

Rishitosh Mukerjee has recently joined AMV Ltd, a company manufacturing refrigerators. He found that his department was under-staffed and other departments were not cooperating with his department for smooth functioning of the organisation. Therefore, he ensured that his department has the required number of employees and its cooperation with other departments is improved.

1. Identify the level at which Rishitosh Mukerjee was working.
2. Also, state three more functions required to be performed by Rishitosh Mukerjee at this level.

Sunder Lai runs a security service providers agency. Considering that psychological testing is a critical step for judging the potential of the prospective candidates for a career in law enforcement, he uses various types of psychological tests as part of the selection processes. This is done to ensure that potential new officers are emotionally and psychologically suited to carry out the requirements of the job.
In context of the above case :

1. Briefly outline any one more type of test that Sunder Lai may use to assess the potential of the prospective candidates.
2. Briefly outline the steps involved in the selection process after conducting the assessment tests.

What is the meaning of training? What are its chief objectives?

Suhasini a home science graduate from a reputed college has recently done a cookery course. She wished to start her own venture with a goal to provide 'health food' at reasonable price. She discussed her idea with her teacher (mentor) who encouraged her. After analysing various options for starting her business venture, they shortlisted the option to sell readymade and 'ready to make' vegetable shakes and sattu milk shakes. Then, they both weighed the pros and cons of both the shortlisted options.(a) Name the function of management being discussed above and give any one of its characteristics.(b) Also briefly discuss any three limitations of the function discussed in the case.

These days, the development of a country is also judged by its system of transferring finance from the sector where it is in surplus to the sector where it is needed most. To give strength to the economy, SEBI is undertaking measures to develop the capital market. In addition to this there is another market in which unsecured and short-term debt instruments are actively traded everyday. These markets together help the savers and investors in directing the available funds into their most productive investment opportunity.

1. Name the function being performed by the market in the above case.
2. Also, explain briefly three other functions performed by this market.

Enumerate any two techniques of scientific management.

Explain the process of motivation?