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NATURE AND SIGNIFICANCE OF MANAGEMENT — OCM STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceOCMNATURE AND SIGNIFICANCE OF MANAGEMENT2 Marks
Question
State any two functions performed at the top level management.
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Answer

The two function performed at the top level off management are:
  • To lay down primary and subsidiary objectives of business.
  • Directors act as the trustees of the business enterprise.
  • To select Chief Executive Officer and higher officers and to assign them authority and responsbbility,
  • To sanction the budget prepared by different departments.
  • To abide by law and to take care of interest of different stakchokders of the business.
  • To take strategic decisions by making long term plans.
  • To analyse and resolve complex problems of management as per legal provisions.
  • To plan for the enterprise, its implementation and to supervise it,
  • To do the functions like distribution of profit, dividend, reserve fund, re-investment of profit,etc.
  • To analyse reports of different activities and to give instructions accordingly.

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