Principles of Management — Business Studies STD 12 Commerce — Question

What do you mean by production concept?

One of the objectives of management is to consistently create economic value for various constituents of the society. Give two examples of this objective.

If a manager is able to achieve the target of production of 5000 units but at a higher cost. Is he efficient or effective?

What does the principle of ‘Initiative’ indicate?

Rajat, the production manager of Auto India Ltd, passes on instructions regarding his departments freely and indiscriminately. Which management principle is violated here?

For which business an enterprise is divisional structure suitable?

What is included in "Technological Environment of Business?

Is Management concerned only with doing the right task, completing activities and achieving goals without taking into consideration the cost benefit?’ Give reason in support of your answer.

Name the type of organisation in which (a) Friendly relationship exists among members(b) Official relationship exists among the members.

Explain how planning facilitates decision-making?