Principles of Management — Business Studies STD 12 Commerce — Question

'It is a process by which manager brings order out of chaos, removes conflicts among people over work and creates an environment suitable for teamwork'. Identify it.

What is meant by Financial Planning?

How the wealth of shareholders can be computed?

Under three-tier machinery where can a legal heir or representative of a deceased consumer file a complaint where the compensation claim is ₹ 25 lakhs.

Mr. Rajiv the senior manager of Unique enterprise considered himself very wise and used to take all the decisions himself without consulting the employees, he never used to help any one nor he used to take help of anyone. The employees of unique enterprise were not working efficiently and company's profit margin started declining to tackle the problem, the company appointed a new manager from IIM Bangalore. The new manager after joining made a policy that all the decisions will be taken after consulting employees in the meeting. All employees must give some suggestions and best suggestions will be rewarded with financial and nonfinancial incentives. This policy had a very positive effects on company.State and explain the principle of Henry Fayol used by new manager.

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.

ITC started its business with Jobaico Industry, later on its entered in hotel industry, consumer goods industry, stationery, etc. ITC assured quality to customer and kept company's name as its identity. This help the customers in product identification and hence ensured quality. It also built up their confidence and help in increasing their level of satisfaction.(i) Name the element of marketing mix referred in above para.(ii) Name the other elements of marketing mix.(iii) Name the concept which assure quality and help in identification of product.

Controlling judges accuracy of standards. How?

Policies are guides to managerial action and decisions in the implementation of strategy. Support with an example.

What is Badla?