Planning — Business Studies STD 12 Commerce — Question

Explain any four points of importance of management.

Discuss the basic features of management as a profession.

After completing his entrepreneurship course from Australia, Sanket came back to India and started a coffee shop ‘Premium Cold Coffee’ in a famous mall in Delhi. Its speciality was the special aroma of coffee and a wide variety of flavours to choose from. Somehow the business was neither profitable nor popular. Sanket was keen to find out the reason. He appointed Riya, an MBA from a reputed college, as a manager to find out why the business was not doing well. Riya took a feedback from the clients and found out that though they loved the unique aroma of coffee but were not happy with the long waiting time being taken to process the order.She analysed and found out that there were many unnecessary stoppages in between which could be eliminated. She set up a standard time for processing the order. She also analysed that there were many flavours of coffee available for which the demand was very less. So she also decided to discontinue some of them.
Within a short period Riya was able to attract the customers.
Identify and explain the management techniques used by Riya to solve the problem.

Today, the development of a country is also judged by its system of transferring finance from the sector where it is in surplus to the sector where it is needed the most. To give strength to the economy SEBI is undertaking measures to develop the capital market. In addition to this, there is another market in which unsecured and short-term debt instruments are actively traded every day. These markets together help the savers and investors in allocating the available funds into their most productive investment opportunity.

1. Name the function being performed by the market in the above case.
2. Also, explain three other functions performed by this market.

Explain the following rights of a consumer:

1. Right to safety.
2. Right to consumer education.

Explain ‘Procedure’ and ‘Programme’ as types of plans, with a suitable example.

Distinguish between 'Formal' and 'Informal' organisation.

People take example of MONA TONA Co. which is engaged in manufacturing different varieties of biscuits for its work environment. The company has earned an amount of ₹ 80 crores in the last financial year, out of which management is planning to share ₹ 10 crores with its workers. Its sugar coated biscuits are famous both in country as well as abroad. People of every age like their products. Workers are also giving their 100% to embrace change for the good of the company. Also, there is an almost equal division of work and responsibility between workers and management. All the day long, the management works almost side by side with the workers by helping, encouraging and smoothing the way for them.

1. Name the principles of scientific management discussed above.
2. Explain any two techniques of scientific management.

State any four reasons why training is needed in any organisation.