Planning — Business Studies STD 12 Commerce — Question

State any three points of importance of planning function of management.

Define management.

Explain briefly the steps involved in the process of financial planning.

Owing to the increased workload after demonetisation, the income tax employees of Karnataka and Goa region had urged the centre to increase manpower of the I-T department by filling up 35% vacancies which were lying vaccant. As there were confirmed reports about misuse of bank accounts, foreign exchange mechanism, gold purchases and adoption of various other dubious means for investing the unaccounted cash.
In context of the above case :

1. Identify and explain the function of management being discussed in the above lines.
2. Identify and explain the particular step related to the function of management as identified in part (1) of the question which has already been performed. Also, state the next three steps to be performed after this step.

State any three advantages of debenture issue as a source of finance.

One of the principles of Scientific management emphasizes to make the employee efficient, by training the workers. It further insists that each employee must be scientifically selected and work assigned to employees should suit their physical, mental and intellectual capabilities.(i) Name and explain the principle of scientific management involved in above case.(ii) Name the value emphasized by this principle.

Why does the principle of unity of command not hold good in an organisation using technique of functional foremanship?

What is formal organisation structure? How is it different from informal organisation on the basis of flow of authority?

Explain the concept of leadership. Give two situations in which autocratic leadership style is most effective.

Explain the following features of planning:
Planning involves decision making.