NCERT Solution for Class 12 Business Studies Chapter 1 - Nature and Significance of Management

NCERT Solutions are helpful books while preparing for the CBSE Class 12 Business Studies examinations. These Solutions of NCERT are collated by the subject matter experts to help students grasp the concepts easily.

Download the PDF of NCERT Solutions for Class 12 Business Studies Chapter 1 – Nature and Significance of Management

Download PDF Download PDF

 

Access NCERT Solutions for Class 12 Business Studies Chapter 1

Short Answer Questions for NCERT Business Studies Solutions Class 12 Chapter 1

1. Define management.

The process of getting things done with the purpose of achieving goals efficiently and effectively is called management. In other words, management can be defined as the process of planning, organising, staffing and controlling so as to achieve the goal of the organisation with minimal resource usage.

2. Name any two important characteristics of management.

Two important characteristics of management are a pervasive and continuous process. It is pervasive as the impact of management spans all aspects of business, irrespective of the organisation, while it is a continuous process as it performs various functions like planning, organising, directing, staffing and controlling simultaneously.

3. Ritu is the manager of the Northern division of a large corporate house. At what level does she work in the organisation? What are her basic functions?

Ritu functions as the middle-level management in the organisation. She works as a link between the top-level management and workers. The following will be her basic functions:

1. Understanding the policies set by the top management.

2. Communicating with the top and low levels of management.

3. Motivate employees to achieve productivity.

4. Coordinate with cross-functional heads to maintain transparency.

5. Assigning tasks to various departments under control.

4. Why is management considered a multi-faceted concept?

It is regarded as a multi-faceted concept due to the following reasons:

1. It involves managing the work, which is meeting the objectives over a period of time. It can also be said to be the goals that need to be achieved.

2. Work is done by the people, therefore, managing the people is a very important part of management which can be in the form of teams or groups of individuals. Management helps in identifying the strengths and weaknesses of the people.

3. An organisation will be involved in production where inputs get transformed into products or some kind of service. There needs to be continuous monitoring of such production processes to ensure proper output. Here, management is required.

5. Discuss the basic features of management as a profession.

The following are the basic features of management as a profession:

1. Management is a systematic and well-defined body of knowledge which consists of various theories and guiding principles. Such knowledge can be obtained through books and enrolling in management courses.

2. Management is regulated by a professional association which looks at the functions of its members. In India, AIMA, or the All India Management Association, is the governing body for managers. Joining the organisation is not compulsory.

3. Professional knowledge is a required criterion and is given preference over degrees. The lack of professional experience is a deterrent for people looking to choose a profession.

4. Only through proper management the business will grow. The guiding principles will help in ensuring the smooth functioning of the organisation. Quality goods and services can be made available with management.

Long Answer Questions for NCERT Business Studies Solutions Class 12 Chapter 1

1. Management is considered to be both an art and a science. Explain.

Management can be regarded as both an art as well as a science from the following points:

A. Management as Art

1. Management has a well-defined literature which is required for gathering knowledge in the theories and accelerating learning. There are many examples of management literature which is available such as Taylor’s Scientific Management Theory and Henry Fayol’s 14 Principles of Management. These theories help in understanding the various concepts of management.

2. Management knowledge can be utilised by everyone in their own way, very much like arts where words can be expressed in the form of writing differently by different poets and music notes arranged by musicians to perform a musical piece, or the use of colours by a painter to draw vivid paintings. Similarly, managers use various theories and principles in trying situations to make use of management knowledge.

3. Arts is all about expressing and innovating using creativity, such as two artists will enact the same scene in two different ways. Similarly, two different managers will be managing the situation differently. Sometimes managers can come up with innovative and fresh ideas to address the situation.

Management as Science

1. Science is a systematic discipline, and management also shares similar characteristics. Like science, management also relies upon theories and principles to address issues that arise. Management has a separate vocabulary and terms that it uses to define certain processes.

2. Theories in science have been developed after prolonged observation and repeated experiments. Similarly, to some extent, management also bases its theories on regular observation and experiments, such theories will act as guidelines for management in the long run.

3. Scientific theories have universal validity, and in management, we also see the principles are to some extent universally valid, and some can change as per the situation. Such theories and principles can be used as basic information for training managers.

2. Do you think management has the characteristics of a full-fledged profession?

Management does not have the characteristics of a full-fledged profession, but it does have some qualities which make it eligible to be called a profession. These are mentioned below.

1. Management is a systematic and well-defined body of knowledge which consists of various theories and guiding principles. Such knowledge can be obtained through books and enrolling in management courses.

2. Management is regulated by a professional association which looks at the functions of its members. In India, AIMA or, the All India Management Association, is the governing body for managers. Joining the organisation is not compulsory.

3. Professional knowledge is a required criterion and is given preference over degrees. The lack of professional experience is a deterrent for people looking to choose a profession.

4. Only through proper management the business will grow. The guiding principles will help in ensuring the smooth functioning of the organisation. Quality goods and services can be made available with management.

5. All business organisations look to provide the best services to the people at the best quality, thereby serving society.

3. Coordination is the essence of management. Do you agree? Give reasons.

Coordination is essential in management as it helps in binding together all other functions of the management. All the activities, such as sales, purchase and production, are based on coordination with management. The following points will help establish coordination as the essence of management:

1. The combination of efforts of all the groups increases productivity and also provides a common focus to all the group efforts.

2. It is a continuous process and is not a one-time effort. Coordination begins at the planning stage and is concluded at the controlling stage.

3. Coordination is a pervasive function, as it is required at all levels of management. As all management activities are interdependent, coordination improves the efforts at various levels among all departments.

4. It ensures that all the combined efforts of the departments act as a unity which binds all actions together and helps an organisation achieve goals in a better way.

5. It is a deliberate function, as everyone is performing it deliberately. The tasks are done with the objective of achieving the objectives and goals of the organisation.

6. All the departments come together and communicate regarding the work to be done in an organisation. This communication requires coordination among employees.

4. A successful enterprise has to achieve its goals effectively and efficiently. Explain.

Management is defined as the process of getting things done with the purpose of achieving goals efficiently and effectively. The terms effective and efficient are key terms in management and play an important role in the functioning of management.

Effectiveness refers to the process of completing a given work in the time provided. It is the process of doing a task with a primary focus on end result. It is considered a very important aspect of management which helps in achieving goals. Efficiency is the process of completing a given task with minimal use of resources and cost.

For an organisation to be successful, both these factors play a critical role in meeting the objectives of the organisation. Effectiveness helps in achieving the defined goals, while efficiency helps in achieving that with minimum resources and cost. Reducing the cost and resources brings profits for the organisation and also increases it. Therefore, it is essential for an organisation to focus on both effectiveness and efficiency. It is important to complete the work on time, along with minimum resources. Similarly, it is essential to reduce the cost of production and finish the production at the decided time. Hence, successful companies need to be both efficient and effective at the same time in order to gain profits in the long run.

5. Management is a series of continuous, interrelated functions. Comment.

Management is a series of continuous, interrelated functions. It can be explained with the help of the following points:

Management comprises the following functions that work together:

1. Planning: It is the process of determining what works need to be done, who will do it and how it should be done. It involves setting up goals which need to be achieved and determining the ways in which they can be achieved. It helps in laying down a framework based on which the activities can be implemented. It is often said to be the most important step in management.

2. Organising: Planning is followed by Organising. It is the process of identifying tasks and the appropriate resources that are required for executing the plan. Organising allots separate tasks to different departments with a defined plan. The hierarchy is well established, which leads to work being carried out with efficiency and effectiveness.

3. Staffing: Staffing is the process of allotting specialised personnel for specialised work. In other words, hiring the right person for the job. It is a part of human resources and involves hiring and training people.

4. Directing: It is one of the important functions of a manager, which involves directing the human resources to work in an effective manner. It also involves providing motivation to the workers so as to drive productivity.

5. Controlling: Controlling is necessary as it checks if the assigned work is progressing in the right direction or not. It generally involves assessing the work done with the goals of the organisations. By measuring the extent of work, managers ensure that there is no error or discrepancy. If any such errors surface, then appropriate steps will be undertaken so as to rectify the issue.

So, all these make us understand that management functions are interdependent on each other in order to function properly.


The NCERT Solution for Class 12 Business Studies Chapter 1 – Nature and Significance of Management provide us with a brief presentation of the concepts. It furnishes a clear picture of what are the nature and Significance of Management.

  • Definition of Management – Management is the process according to which a cooperative group directs the actions of others towards common goals.
  • Concepts of Management
  • Traditional concept
  • Modern concept

Conclusion

The NCERT Solutions for Class 12 Business Studies Chapter 1 provide a broad degree of illustrative examples, which helps the students to comprehend and learn quickly. The above-mentioned are the topics covered in the Class 12 CBSE syllabus. For more solutions and study materials of NCERT Solutions for Class 12 Business Studies, visit BYJU’S or download the app for the best learning experience.

Comments

Leave a Comment Cancel reply

Your Mobile number and Email id will not be published.

*

*

  1. Thank You Byjus for Indias best learning point

close
close

Play

&

Win