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

What is meant by ‘Policy' as a type of Plan?

Globalisation has integrated Indian economy with world's economy. (True/ False)

Government of India is seriously thinking to allow oil marketing public sector undertakings to fix their own price for petrol and diesel. Which economic LOS reform is the reason of this change in government's policy?

At which level of management, function of directing is performed?

Blue Heavens Ltd. purchased a new hi-tech machine from Germany for manufacturing high quality auto components in a cost effective manner. But during the production process, the manager observed that the quality of production was not as per standard. On investigation it was found that there was lack of knowledge amongst the employees of using these hi-tech machines. So, frequent visit of engineers was required from Germany. This resulted in high overhead charges. Suggest what can be done to develop the skills and abilities of employees for producing high quality products by using these hi-tech machines. Also state how the employees or the organization will benefit from your suggestion.

Name the off the job method of training in which employees learn their jobs on the equipments they will be using but away from the actual work place.

Ram argues that management is required in all kinds of organisations where as Mohan feels that management is not required in non-business organisations such as school, club, hospitals, etc. who is correct?

As per modern view what is market?

What is meant by ‘Principles of Management'?

Why did liberalisation of Indian industry took place?