Organising — Business Studies STD 12 Commerce — Question

What is the role of marketing in the economy?

Planning lays down the base for other functions of management. Which feature of planning is highlighted here?

Sagar purchases goods on 2 month credit and sells the goods on 3 months credit. How much working capital is needed?

It is defined as the management function of hiring and developing the required personnel to fill in various positions in the organisation. Mention the term.
Or
It is described as the managerial function of filling and keeping filled the positions in the organisation structure. Which function of management is referred here?

Name the financial decision which will help a businessman in opening a new branch of its business.
OR
A company wants to establish a new unit in which a machinery of worth ₹ 10 lakhs is involved. Identify the type of decision involved in financial management.

Which type of personnel is recruited by management consultancy firms?

Principles of management are not exact as the principles of science and they have to be modified according to a given situation. Which feature of science is not applicable in this statement?

What do you understand by the universality of principle of management?

Saurabh decided to start a chocolates manufacturing business. He set the target of earning 10% profit on sales in the first year. As a good businessman, he was concerned about the future of the business, which was of uncertain. He gathered information that the demand for chocolates is increasing day-by-day. He used this information as the base for future planning and shared it with his team. On the basis of the gathered information, he scheduled a meeting in the following week to find innovative ways to achieve the objectives.
List the first two steps, which have been followed by Saurabh that are related to the process of one of the functions of management.

Which limitation of planning states that 'Once plans are made, managers may not be in a position to change them'?