Principles of Management — Business Studies STD 12 Commerce — Question

Why is business environment known as ‘totality of external forces’?

A company wants to establish a new unit in which machinery worth Rs.10 lakhs is involved. Identify the type of decision involved in financial management.

What is "brand name'?

What is the advantage of registering ‘trade mark’?

'Employee turnover should be minimised to maintain organisational efficiency'. Mention the principle which indicates it.

What is meant by Work Study?

What is meant by gross working capital and net working capital?

Give one example of employee recognition.

Alok is view supervisor of Ram, Rahim and Khan. He consults all his subordinates while framing work schedules. They provide suggestions and Alok considers such suggestions if they are productive. Which leadership style is followed by Alok? What would be the benefits of such leadership style to the organisation?

Smriti works as a marketing manager in a small company. The company has recently launched a new brand of room fresheners through aggressive promotion. However, the product is less in demand and its sales are low. Smriti decides to study the reasons for the poor likability of the product through a market research. Keeping in view the volume of work, she knows it will be impractical for her to handle it all by herself. In order to share her work, she deploys a team of executives. She gives them the necessary authority and assigns them the responsibility to conduct the research and report back to her so that she can make the decisions.
In the context of the above case :
Identify and explain the concept used by Smriti to share her work and authority with her subordinates.