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Published on: 20/09/2019
Nature and Significance of Management
Download CBSE Class 12th Standard CBSE Business Studies question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Business Studies
Questions + Answers key
Take MCQ Business Studies Test

1.
In order to achieve target production of 5000 units per month, a Production Manager has to operate on double shifts. Due to power failure most of the time, the manager is able to achieve 5000 units, but at a higher production cost.
a) In your point of view, what is lacking in management?
b) Identify the values emphasised by management in the above mentioned case.
2.
Rahul Ltd., a leading Manufacturer of iron and steel decided to open up a new branch in remote area in Rajasthan. So that unemployed youth from the rural areas could get same opportunities as those available in the urban areas. This initiative has raised the standard of living of people in rural areas. All children in these families are getting good education and these families are also actively contributing the nation building through their dedicated work.
a) Identify the objective e of management highlighted in the above mentioned case.
b) Give any two advantages of following the above objective.
c) Which values can be emphasized by following the above objective?
3.
A.R. Rehman is the first Indian to win Oscar award for his composition `Jai Ho’. His composition of music is unique and different as he has used the singing notes in a manner that is entirely his own interpretation. Like A.R. Rehman, `Nandan’ General Manager in Sea Ltd, uses his knowledge of management in a unique and different manner and all the employees working under his guidance are happy and satisfied. He rewards the employees who come to office on time.
a) Identify the nature of management highlighted above.
b) State two other ways in which nature of management can be explained.
c) Identify the value that Nandan wants to inculcate in his employees. Also explain how?
4.
6 A factory established in a residential locality, uses machines creating heavy noise while running. Factory Manager always ready to provide financial help to local people. Due to noise pollution student can’t study properly and residence can’t sleep/work properly. The owners also know it. Which values are affected here?
5.
An industrial unit, working in a backward area opens schools for education at nominal cost for the children of its employees and local people. By this act which value is promoted here?
6.
Explain the Social objectives of management?
7.
What do you mean by “levels of Management”? Draw a diagram showing the levels of management.
8.
Coordination is a systematic and orderly arrangement of individual and group efforts'. In the light of the statement, state any four features of coordination.
9.
A business organisation plans in advantage and has a sound organisation structure with efficient supervisory staff and control system. Many times, it finds that plans are not being adhered to. It leads to confusion and duplication of work. Which values are missing in the above paragraph?
10.
With the help of an example, discuss in brief, coordination.
11.
Raman is working as a plant superintendent in Tifco Ltd. Name the managerial level at which he is working. State any four functions he will perform as plant superintendent in this company.
12.
Give any three functions which are performed by the Cheif Executive officer of a company.
13.
Briefly discuss the three levels of management.
14.
Write a short note on 'management as profession'.
15.
Do you think management has the characteristics of full-fledged profession?
1.
(a) Efficiency
(b) Values – (i) optimum utilization of scarce resources.
(ii) sincerity
(iii) Responsible towards achieving the target.
2.
a) Social objective.
b) Creation of benefit for society – new branch in rural area – leads to Balanced Regional development.
c) i) Equal Opportunity for growth and development.
(ii) Social responsibility.
(iii) Concern for the unemployed.
3.
a) Nature of management - Management is an art.
b) i) Management as science
ii) Management as profession.
c) Discipline /punctuality - By rewarding the employees.
4.
i) Noise Pollution
ii) Bad effect on the health of employees
iii) Bad effect on the studies and health of children
iv) Development of society with financial help.
5.
i) Helpful in increasing literacy rate
ii) Development of society
iii) Increase in Employment opportunities in backward areas
6.
The social objectives involve the creation of benefits for the society. It includes. a) Supply of quality products at reasonable prices . b) Using friendly methods of production. c) Generation of employment opportunities.
7.
The term “Level of Management” refers to a line of demarcation between various mgt. positions in an organisation.
8.
Four features of coordination are:
(i) Coordination is not a distinct function but it is the essence of management.
(ii) Coordination is an ongoing process, it is not a one-time function.
(iii) It is created deliberately by the efforts of a manager, it does not occur spontaneously.
(iv) The main aim of coordination is to achieve unity of action.
9.
Values which are missing are:
(i) Cooperation
(ii) Unity of action
(iii) Achievement of organistional objectives.
10.
Coordination is the force that binds all the functions of management and establishes harmony among them. e.g., If goods are not produced in certain quantity at the right time, supply of goods to customers cannot be undertaken by the sales department. This will lead to wastage of resources, effort and time.
11.
The level of management being discussed in above question is middle level management.
Main functions of the middle level management are as follows:
(i) Interprets the policies framed by top management.
(ii) Assigning necessary duties and responsibilities to the staff.
(iii) Maintains close contacts with operating level so as to evaluate performance.
(iv) Select and appoint employees for middle and lower level.
(v) Cooperates with other departments for smooth functioning.
12.
Chief executive officer is concerned with top level of management. Following are the main functions performed by him:
(i) Determines the objectives of the business.
(ii) Formulates the policies of the business.
(iii) Analyses, evaluates and deals with the external environment.
13.
Organisational structure possesses three levels of management, as follows:
(i) Top level management: It consists of the Board of Directors, Chief Operational Officers and many more.
This level of management frames policies for overall attainment of management objectives.
(ii) Middle level management: It consists of departmental heads, section officers, etc. This level interprets and explains the policies framed by top level management.
They are involved more in collecting and reporting feedbacks to top level.
(iii) Operational level management: It is the lowest level of management. It consists of plant superintendents, clerks, supervisors, etc.
They are concerned with technical and routine work on day-to-day basis.
14.
Management as a profession: Profession means occupation that requires specialised knowledge and a practice of formal education, which is acquired from the respective professional body. The basic features of a profession are:
(i) Systematised body of knowledge: A profession is based on a systematised body of knowledge.
(ii) Restricted entry: Entry into a profession is restricted through an examination or degree.
(iii) Professional association: All professionals are bound to be a part of a professionals are subject to an ethical code of conduct.
(iv) Code of conduct: All professionals are subject to an ethical code of conduct.
(v) Service motive: The basic motive of each professional is to render committed service to the society.
Following points clarify whether management is a profession or not:
(i) Like profession, management has well defined body of knowledge. It has its own principles, which are based on experiments.
(ii) In management, no such restriction is there for managers to clear an examination or hold a degree.
(iii) In management, no such rules and regulations are framed to guide the managers.
(iv) Membership to a professional association like AIMA, is not mandatory for managers.
(v) All managers, directly or indirectly work for the development of society.
Conclusion: Thus, management does not possess all the essential attributes of a profession. No doubt, management though not a full fledged profession, is emerging as a profession.
15.
Management as a profession: Profession means occupation that requires specialised knowledge and a practice of formal education, which is acquired from the respective professional body. The basic features of a profession are:
(i) Systematised body of knowledge: A profession is based on a systematised body of knowledge.
(ii) Restricted entry: Entry into a profession is restricted through an examination or degree.
(iii) Professional association: All professionals are bound to be a part of a professionals are subject to an ethical code of conduct.
(iv) Code of conduct: All professionals are subject to an ethical code of conduct.
(v) Service motive: The basic motive of each professional is to render committed service to the society.
Following points clarify whether management is a profession or not:
(i) Like profession, management has well defined body of knowledge. It has its own principles, which are based on experiments.
(ii) In management, no such restriction is there for managers to clear an examination or hold a degree.
(iii) In management, no such rules and regulations are framed to guide the managers.
(iv) Membership to a professional association like AIMA, is not mandatory for managers.
(v) All managers, directly or indirectly work for the development of society.
Conclusion: Thus, management does not possess all the essential attributes of a profession. No doubt, management though not a full fledged profession, is emerging as a profession.
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