Planning — Business Studies STD 12 Commerce — Question

Answer the following question.What is REPO and Reverse REPO?

State the functions of financial market.

1. Name and explain the principle of management which requires judicious application of penalties by the management.
2. Name and explain the technique of scientific management which helps in establishing interchangeability of manufactured parts and products.

Vinber Ltd. set up a manufacturing unit at Bhiwadi in Himachal Pradesh to manufacture electric geysers and supply them to dealers all over the country. Their production target was 500 geysers per week. It was decided by the management that variation in production upto 10 units would be acceptable.
At the end of the first week, the production was 450 geysers. The next week, production increased to 470 geysers. A week later, production was 460 geysers. On investigation, it was found that fluctuation in production was due to irregular supply of electricity.

1. The above para discusses some of the steps in the process of one of the functions of management. Explain these steps.
2. Also, state the step(s) that have not been discussed in the above para.

‘K.S. Energy Ltd.’ was a energy efficiency consultancy company. To get the business the team leader and his team used to travel to different states to give presentation to their clients. As per the policy of the company, the team leader used to travel by air, whereas his team travelled by road/train. It was not only time consuming but also at times forced female team members to travel alone.
As a result, the subordinates were not acting in a desired manner to achieve organizational goals. The CEO came to know about it. He called the team leader, discussed the matter with him and changed the travel policy of the company. It was decided that all the members including the leader would travel together in future and would usefully utilize the travelling time in discussion with the subordinates about the presentation to be given to the clients. This made a positive impact and every member of the team started acting in a manner as desired by the team leader.
State the features of the element of the function of management used by the CEO.

Does control help in ‘judging the accuracy of standards’ and ‘improving motivation of the employees’? Explain.

Explain ‘Procedure’ and ‘Programme’ as types of plans, with a suitable example.

Holistic Education Public School in Bahadurgarh decides to implement the literacy programme of the government in the school. It is decided that within the year, the forty five support staff employees of the school will be made literate by the school counsellors and social workers. In order to enhance the learning process, the school decides to use audio-visual aids. To start the programme, the school has to first procure the literacy books from State Resource Centre at Jamia. Besides the curriculum, each literacy book contains a series of nine tests which the volunteers have to get completed by the learners during the programme. Moreover, by implementing the plan of ‘each one teach one’, each student of the school from classes fifth to tenth will be encouraged to make one person literate. The student volunteers may select a learner by adopting any one of the two ways; either from the slum areas adopted by the school or on their own within the vicinity of their residence. As per the norms of the Delhi Government, it is mandatory for the volunteers to send back the filled copy of only the ninth test paper in the series to the authorities as a conclusive proof of the completion of the course, else the certificate of commendation will not be awarded to them. Considering the implementation of the programme to be a part of its corporate social responsibility initiative, the school has decided to spend around Rs. 50,000 on the distribution of free stationery items, refreshments of the learners, etc.
In context of the above case :

1. Identify the various types of plans being used by Holistic Education Public School in order to implement the literacy programme in their school by quoting the lines from the paragraph.
2. Categorise the various types of plans as identified in part (a) into single use plans and standing plans.

Explain any four features of co-ordination.

Taylor's techniques of management are universally applicable. Do you agree? Give any four reasons in support of your answer.