Business Studies 1 Marks Question

Why is it said that 'controlling is looking back'?

What should be the 'focus point' for a manager while controlling, as controlling at each and every step is not possible?

Name the function which reviews the operations in a business unit.

Give the meaning of ‘accountability’ as an element of delegation.

Give the meaning of ‘responsibility’ as an element of delegation.

Radhika and Vani who are young fashion designers left their job with a famous fashion designer chain to set-up a company fashionable Pvt. Ltd.' They decided to run a boutique during the day and coaching classes for entrance examination of National Institute of Fashion Designing in the evening. For the coaching Centre, they hired the first floor of a nearby building. Their major expense was money spent on photocopying of notes for their students. They thought of buying a photocopier knowing fully that their scale of operations was not sufficient to make full use of the photocopier.

In the basement of the building of 'Fashionate Pvt. Ltd.' Praveen and Ramesh were carrying on a printing and stationery business in the name of ‘Neo Prints Pvt. Ltd.' Radhika approached Praveen with the proposal to buy a photocopier jointly which could be used by both of them without making separate investment, Praveen agreed to this. Identify the factor affecting fixed capital requirements of 'Fashionate Pvt. Ltd.'

What should be done while ‘taking corrective action’ in the process of controlling, when especially in the important areas deviation go beyond the acceptable range?

Why is it said that ''controlling is a continuous activity"?

What is important while analysing deviations in controlling?

Which function of management ensures that actual activities confirm to planned activities?

Name the concept which suggests that only significant deviations which go beyond the permissible limit should be brought to the notice of management.

Which function of management ensures that actual activities conform to planned activities?
OR
Name the function which reviews the operations in a business unit.

OR
Planning is an empty exercise without this function of management. Mention this function.

Which function of management ensures that actual activities conform to planned activities?

Name the concept which suggests that only significant deviations which go beyond the permissible limit should be brought to the notice of management.

In which situation the need of taking corrective action arises?

Taking corrective/ remedial action is the last step in the process of one of the functions of management.
Name the function.

Control should focus on key result areas (KRAs) which are important to the success of an organisation. Which concept is suggested here?

It helps to minimise dishonest behaviour on the part of employees by keeping a close check on their activities. Mention the importance of controlling indicated here.

Name the concept, which suggests that only significant deviations which go beyond the permissible limit should be bought to the notice of management.
OR
Which principle of management control suggests that the routine problems should be left to the subordinates?

OR
Which principle of management control suggests that an attempt to control everything results in controlling nothing?

OR
The operations manager set a limit of 5% deviation in production and decided to take corrective action only if deviations occurred beyond 5%. Name the controlling principle applicable here.

Control should focus on key result areas (KRAs) which are important to the success of an organisation. Which concept is suggested here while analysing deviations in performance of activities?

Which standard(s) is/ are used in production?

1. Quality Standards.
2. Quantity Standards.
3. Cost Standards.
4. All of the above.

Name the function which reviews the operations in a business unit.

Planning is an empty exercise without this function of management. Mention this function.

Shruti has established a small scale factory after completing a course in textile designing. She has tied up with the big home furnishing retail outlets in the city for supplying to them good quality designer home furnishing products like bed covers, cushions etc. She believes that controlling without planning is blind. So, every time she gets an order, she sets the standards in terms of the number of personnel required, the estimated requirements in man-hours per product, the requirements of direct materials for the projected production and the amount of normal overhead expenses required at the projected workload. She also keeps a close watch on the activities so as to ensure that they conform to plans. Whenever the order size is too large, she hires extra workers by placing a notice on the notice-board of the factory specifying the details of the jobs available. Identify the function of management being performed by Shruti.

Employees know well in advance what they are expected to do and what are the standards of performance on the basis of which they will be appraised, which in turn helps them to give better performance. Which importance of controlling is highlighted here?

Hina Sweets is a renowned name for quality sweets since 1935. Harsh, the owner of Hina Sweets, was worried as the sales had declined during the last three months. When he enquired from the Sales Manager, the Sales Manager reported that there were some complaints about the quality of sweets. Therefore, Harsh ordered for sample checking of sweets. Identify the step taken by Harsh that is related to one of the functions of management.

"Managerial control implies the measurement of accomplishment against the standard and the correction of deviations to assure attainment of objectives according to plans". This definition has been given by:

1. Koontz and O'Donnell.
2. Peter Drucke.
3. Henry Fayol.
4. Chester Barnard.

What is meant by sample checking?

Which system enables a manager to verify whether the standards set are accurate and objective?

Digital controls is manufacturing inverters in Chandigarh. The management wants to measure the degree of employee morale, job satisfaction and human behaviour in their firm. Why proper controlling is not possible here?

Why is it said that “controlling is a continuous activity”?

Which two steps in the process of controlling are concerned with compelling events to confirm to plan?

State any one advantage of ‘Critical-point Control’ and ‘Management by Exception’.

Standards can be set in both quantitative as well as qualitative terms. Show through examples.

Name the two situations in which corrective action is not required.

Why is it said that ‘planning is looking ahead’?

State some of the disadvantages of controlling.

Control system loses some of its effectiveness when standards cannot be defined in quantitative terms. What difficulty does this situation create?

What is meant by 'deviation' in controlling?

Controlling judges accuracy of standards. How?

Explain two causes of deviations and corrective action to be taken for them.

In which situation, the need of taking corrective action arises?

'Planning is looking ahead'. Why?

Which two standards will you suggest for production department?

Controlling make efficient use of resources. How?

Give an explanation as to, why there is a little control on external factors?

It helps to minimize dishonest behaviour on the part of the employees by keeping a close check on their activities. Mention the importance of controlling indicated here.

Is controlling the end of management functions cycle? Give reason in support of your answer.
OR
Controlling should not be misunderstood as the last function of management. Why?

List first two steps of controlling.

How does controlling help in accomplishing organisational goals?