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

What is meant by management?

Name the financial decision which affects the liquidity as well as profitability of a business.

The earlier approach of Caveat Emptor which means, "let the buyer beware" has now been changed to what?

What is the purpose of enacting the Consumer Protection Act 1986?

Fayol points out the danger and cost of unnecessary labour turnover in one of his principles of management. Name that principle.

National Vritech Ltd. has grown in size. It was a market leader but with changes in business environment and with the entry of MNCs, its market share is declining. To cope up with the situation, the CEO starts delegating some of his authority to the General Manager, who also felt himself overburdened and with the approval of CEO disperses some of his authority to various levels throughout the organisation. Identify the concept of management discussed above.

Hero Ltd.'s target is to produce 10,000 shirts per month at a cost of ₹ 150 per shirt. The Production Manager could achieve this target at a cost of ₹ 160 per shirt. Do you think the Production Manager is 'effective'? Give reason in support of your answer.

As per modern view what is market?

Name the groups of public with whom business unit establishes relations.

What does the term ‘Span of Management’ refer to?