Organising — Business Studies STD 12 Commerce — Question

Anmol, the sales manager of PQR Ltd., is given the responsibility of selling 2,000 LEDs in a month. This target could be achieved if he has a sales team of 10 people. Presently, only 8 persons are working under him. He was not allowed to hire more persons by his superiors. As a result, he fails to meet the target.

1. Which principle is being violated here?
2. Explain the above principle.

Define management.

Explain how principles of management:
Help in optimum utilisation of resources and effective administration.

What is the significance of management principles in the context of environmental changes?

Ganga Foods Ltd is engaged in the business of food processing. It sells its product under a popular brand. Lately, the business has been expanding due to good quality product and at reasonable prices.

On the job training refers to the methods of training that are applied to the workplace, while the employee is actually working. Off the job training means learning before doing and they are used away from the workplace.

Aman Chadha started ‘Bulls Eye’ a company for providing cyber security solutions to businesses. Its objective is to prevent, detect and respond to cyber attacks and protect critical data. He was a hardworking software engineer and an expert in cyber security. His reputation grew by leaps and bounds as he was not only a person of integrity but also did his work with utmost honesty and sincerity. The business started growing day by day.
He was delighted when he was offered a big project by the Ministry of Defence. While working on the project, he found that the volume of work made it impractical for him to handle all the work by himself. He decided to expand the team. The company maintained a close liaison with a local engineering college. During a campus placement, Ishan and Vrinda were appointed to work for the new project.
He found the new employees capable, enthusiastic and trustworthy. Aman Chadha was thus, able to focus on objectives and with the help of Ishan and Vrinda, the project was completed on time. Not only this Aman Chadha was also able to extend his area of operations. On the other hand Ishan and Vrinda also got opportunities to develop and exercise initiative.

1. Identify and briefly explain the concept used by Aman Chadha in the above case which helped him in focusing on objectives.
2. Also, state any four points of importance of the concept identified in (i) above.

Ramnath Ltd. is dealing in import of organic food items in bulk. The company sells the items in smaller quantities in attractive packages. Performance of the company has been up to the expectations in the past. Keeping up with the latest packaging technology, the company decided to upgrade its machinery. For this, the Finance Manager of the company, Mr. Vikrant Dhull, estimated the amount of funds required and the timings. This will help the company in linking the investment and the financing decisions on a continuous basis.
Therefore, Mr. Vikrant Dhull began with the preparation of a sales forecast for the next four years. He also collected the relevant data about the profit estimates in the coming years. By doing this, he wanted to be sure about the availability of funds from the internal sources. For the remaining funds he is trying to find out alternative sources.
Identify the financial concept discussed in the above paragraph. Also, state any two points of importance of the financial concept, so identified.

Explain briefly any three personal barriers to effective communication.

Define planning. List any two reasons why planning is essential.