Friday, 11 April 2014

Assignment (Nature and Purpose of Business: class XI)


Very Short/ HOTS Questions (1 mark)
Q1. A housewife sells old newspapers every month. Is it a business activity?
Q2.Many organisations are contributing money to the special fund constituted for the purpose of relief of Uttrakhand victims. List the values shown by the business organisation.
Q3.ABC limited is planting trees on the roadside. Which objective is being followed and value shown by the company?
Q4.The company wants its employees to work even after the office hours without additional payments. Which values have been overlooked by the company? Which objective is not being followed?
Q5. Ritika produces goods for personal consumption. Will it be a business activity?
Q6.What is an Economic Activity?
Q7. Define Business Risk.
Q8.Define Business.
Q9.What is meant by industry?
Q10. What is meant by Primary Industry?
Q11. What is the peculiar feature of construction Industry?
Q12.Why business in considered as an Economic Activity?
 Short Answer Type Questions (3-4 marks)
Q13.Explain the social objectives of business.
Q14. Discuss the causes of Business Risk. 
Q15. What is the relationship between economics objectives and social objectives?
Q16. (I) Identify whether following activity is Business, Profession or Employment?
(a)   Hawkers selling toys to children
(b)   Person repairing scooter on roadside
(c)    Lawyer fighting a legal case
(d)   Accountants and clerks
(e)   Government officers
(f)     Doctor treating patient
(II) Identify the type of Industry:
(a)   Production of TV sets
(b)   Cement Industry
(c)    Banking sector
(d)   Mining of coal
(e)   Making new breeds of plants
(f)     Advertisement Industry
Q17. Name the service which is related to following causes:
a)                   The Service which helps in removing hindrance of knowledge.
b)                   The Service which helps in removing hindrance of Exchange.
c)                    The Service which helps in removing hindrance of place.
d)                   The Service which helps in removing hindrance of time.
e)                   The Service which helps in removing hindrance of risk.
f)                   The service which helps in removing hindrance of Finance

Long Answer Type Questions (5-6 marks)
Q18.Define Business. Distinguish it from profession and employment.
Q19.“Earning of profit cannot be the objective of business any more than the eating is the objective of living”. Do you agree with this statement? Give reasons to support your answer.
Q20. Why commerce is considered as the backbone of industry and other business activities?
Q21. “Business is an institution organised and operated to provide goods and services under the incentive of private gain”. Discuss the above statement explaining the features of business
Q22. Why does a businessman willingly undertake the Business Risk?
Q23.“Profit is not an objective but a requirement of Business”. Do you agree with this statement? Support your answer with reasons.
Q24. Describe the different types of risks involved in business transactions.


Assignment : Principles of Management (Business Studies-Class XII)


1)       Principles of management are NOT
a.        Universal
b.        Flexible
c.        Absolute
d.        Behavioural
2)       How are principles of management formed?
a.        In a laboratory
b.        By experiences of managers
c.        By experiences of customers
d.        By propagation of social scientists
3)       The principles of management are significant because of
a.        Increase in efficiency
b.        Initiative
c.        Optimum utilisation of resources
d.        Adaption to changing technology
4)       Which of the following statement best describes the principle of 'Division of Work'
a.        Work should be divided into small tasks
b.        Labour should be divided
c.        Resources should be divided among jobs
d.        It leads to specialization
5)       She/he keeps machines, materials, tools, etc., ready for operations by concerned workers'. Whose work is described by this sentence under functional foremanship
a.        Instruction Card Clerk
b.        Repair Boss
c.        Gang Boss
d.        Route Clerk
6)       Which of the following is NOT a Principle of management given by Taylor?
a.        Science, not rule of Thumb
b.        Functional Foremanship
c.        Maximum not restricted output
d.        Harmony not discord
7)       Management should find 'One best way' to perform a task. Which technique of Scientific management is defined in this sentence?
a.        Time Study
b.        Motion Study
c.        Fatigue Study
d.        Method Study
8)       Which of the following statements best describes 'Mental Revolution'?
a.        It implies change of attitude
b.        The management and workers should not play the game of one upmanship.
c.        Both management and workers require each other.
d.        Workers should be paid more wages.
9)       Which of the following statements is FALSE about Taylor and Fayol?
a.        Fayol's principles are applicable in specialised situations whereas Taylor's principles have universal application.
b.        Fayol's principles were formed through personal experience whereas Taylor's principles were formed through experimentation.
c.        Fayol's principles are applicable at the top level of management whereas Taylor's principles are applicable at the shop floor.
10)    Explain the technique of 'Functional Foremanship' and the concept of 'Mental Revolution' as enunciated by Taylor.
11)    Discuss the following techniques of Scientific Work Study:
a.        Time Study
b.        Motion Study
c.        Fatigue Study
d.        Method Study
e.        Simplification and standardisation of work.
12)    Discuss the differences between the contributions of Taylor and Fayol.
13)    Discuss the relevance of Taylor and Fayol's contribution in the contemporary business environment.
14)    How is the principle of 'Unity of Command' useful to management? Explain briefly.
15)    Define Scientific Management. State any three of its principles.
16)    If an organisation does not provide the right place for physical and human resources in an organisation, which principle is violated? What are the consequences of it?
17)    Explain any four points regarding significance of Principles of Management.
18)    Explain the principle of 'Scalar Chain' and gang plank.
19)    Explain the Principles of Scientific management given by Taylor.
20)    Explain the following Principles of management given by Fayol with examples:
a.        Unity of direction
b.        Equity
c.        Espirit de corps
d.        Order
e.        Centralisation and decentralisation
f.         Initiative
21)    The principles of management are ______
  • A) Moral connotations
  • B) Basic truths and guidelines
  • C) Methods to achieve organisational goals
  • D) General rules to guide the behaviour of individuals in society
22)    Which of the following motions cannot be identified with the help of motion study?
  • A) Incidental
  • B) Accidental
  • C) Productive
  • D) Unproductive
23)     Use the following information to answer the next question.
Principles Purposes
1 Remuneration of Employees i. To prevent overlapping of work
2. Unity of Command ii. To ensure fair wages to all the employees
3. Equity iii. To prevent dual subordination
4. Unity of Direction iv. To ensure fair treatment to all employees
The above columns can be correctly matched as
  • A) 1-ii, 2-iii, 3-iv, 4-i
  • B) 1-iv, 2-i, 3-ii, 4-iii
  • C) 1-ii, 2-i, 3-iv, 4-iii
  • D) 1-iv, 2-iii, 3-ii, 4-i
24)    Use the following information to answer the next question.
Principles Purposes
1 Remuneration of Employees i. To prevent overlapping of work
2. Unity of Command ii. To ensure fair wages to all the employees
3. Equity iii. To prevent dual subordination
4. Unity of Direction iv. To ensure fair treatment to all employees
The above columns can be correctly matched as
  • A) 1-ii, 2-iii, 3-iv, 4-i
  • B) 1-iv, 2-i, 3-ii, 4-iii
  • C) 1-ii, 2-i, 3-iv, 4-iii
  • D) 1-iv, 2-iii, 3-ii, 4-i
25)    Use the following information to answer the next question.
Recently, it was in the news that Chennai born  Rangaswami has been appointed the new president of ‘Nazar Ltd.’, a famous Delhi based optical company.
26)    Which of the following principles of management is being referred to in the given scenario?
  • A) Order
  • B) Equity
  • C) Unity of direction
  • D) Authority and responsibility
27)    Use the following information to answer the next question.
Recently, it was in the news that Chennai born Rangaswami has been appointed the new president of ‘Nazar Ltd.’, a famous Delhi based optical company.
28)    Which of the following principles of management is being referred to in the given scenario?
  • A) Order
  • B) Equity
  • C) Unity of direction
  • D) Authority and responsibility
29)    Use the following information to answer the next question.
For the smooth functioning of an organisation it is essential for both the managers and the workers to understand each other’s importance and cooperate with each other.
Which of the following alternative concepts (as introduced by Taylor) is being referred to in the given statement?
  • A) Espirit de corps
  • B) Mental revolution
  • C) Harmony, not discord
  • D) Cooperation, not individualism
30)    Use the following information to answer the next question.
For the smooth functioning of an organisation it is essential for both the managers and the workers to understand each other’s importance and cooperate with each other.
Which of the following alternative concepts (as introduced by Taylor) is being referred to in the given statement?
  • A) Espirit de corps
  • B) Mental revolution
  • C) Harmony, not discord
  • D) Cooperation, not individualism
31)    Use the following information to answer the next question.
‘Authority is undermined discipline is in jeopardy and order is disturbed.’
The violation of which of the following principles of management must have caused the above situation?
  • A) Discipline
  • B) Unity of direction
  • C) Unity of command
  • D) Authority and responsibility
32)    Use the following information to answer the next question.
‘Authority is undermined discipline is in jeopardy and order is disturbed.’
The violation of which of the following principles of management must have caused the above situation?
  • A) Discipline
  • B) Unity of direction
  • C) Unity of command
  • D) Authority and responsibility
33)    Which of the following functions of management was not introduced by Fayol?
  • A) Plan
  • B) Direct
  • C) Control
  • D) Command
34)    Which of the following functions of management was not introduced by Fayol?
  • A) Plan
  • B) Direct
  • C) Control
  • D) Command
35)    Use the following information to answer the next question.
‘Nite Ltd.’ is a furniture manufacturing company. Lately its managers have found that the performance of the employees is deteriorating continuously. In a detailed study of the situation they have realised that the long working hours and limited breaks given to the employees have caused the deterioration. The management therefore has decided to allow the workers to take small breaks at specified regular intervals.
In the given situation, which of the following values was observed by the management?
  • A) Equity
  • B) Humanity
  • C) Cordial atmosphere
  • D) Exploitation of workers
36)    Use the following information to answer the next question.
The managers of ‘HU Ltd.’ practised the principle of 'Unity of Command'. Accordingly, Gajendra and Richa were assigned to work under the supervision of Mr. Makan the sales manager. However, Mr. Makan did not share a good relationship with Gajendra, and overloaded him with work and often changed the instructions in order to confuse him. Makan’s actions hampered Gajendra’s performance to a large extent.
In the given scenario, which of the following values was not followed?
  • A) Equality
  • B) Partiality
  • C) Gender bias
  • D) Disobeying the professional code of conduct
37)     ‘INK Ltd.’ and ‘PINK Ltd.’ are a private enterprise and a government enterprise, respectively. Both the enterprises decided to follow the principle of dividing the tasks into smaller units for achieving higher efficiency. State the characteristic of principles of management being referred to in the given situation?
38)     ‘For achieving efficiency, the right people should be present at the right place at the right time’. State Fayol’s principle of management being referred to in the given statement?
39)    How do the principles of management differ from those of pure science?
40)    Amit, the director of MT Ltd., placed a suggestion box in front of his cabin in order to encourage and acknowledge the suggestions and views of his employees. State and explain the principle of management introduced by Fayol and which was adopted by Amit.
41)    ‘Every organisation consists of a hierarchy of relations.’ State the principle of management that is being referred to in the given statement?
42)    Taylor introduced ‘functional foremanship’ through eight persons. Explain the functioning of a foreman and the concept of functional foremanship.
43)    What do you understand by scientific management? Explain the differential piece wage system as a technique of scientific management.
44)    Management principles are mainly behavioural in nature. Why? State one reason.
45)    Manisha, the head of the production department at ‘KT Ltd.’, a plastic bottle manufacturing company, decided that a standard time limit should be set for the production of bottles. She determined the standard time limit as one hour per bottle. State the technique of management as introduced by Taylor and adopted by Manisha in the given situation.
46)     ‘Under the principles of scientific management, emphasis is put on scientific enquiry rather than rule of thumb.’ Who introduced the term ‘scientific management’? Also explain the principle of scientific management reflected in the given statement.
47)     ‘Management should encourage team spirit.’ Explain the principle of management (introduced by Fayol) which is being referred to in the given statement.
48)    The principles of management aim at optimum utilisation of resources. Explain. Keeping this statement in view, the manager of ‘YAK Ltd.’, a paper manufacturing company, decided to recycle waste water generated in the production process. State the values that are involved here.
49)    Hari was told by his sales manager, John, to submit the sales report by Thursday. Hari was working on the report when Om, the finance manager, told him that he should submit the sales report by Tuesday. Hari was confused about the deadline for the report and was not able to complete it on time. Which principle of management was violated in the given situation. Explain.
50)    Explain the concept of mental revolution introduced by Taylor. What do you think are the values that Taylor had in mind while introducing the concept.
51)    How does standardisation of work differ from simplification of work?
52)    Explain the four studies/techniques introduced by Taylor that were based on standardisation and aimed at improving the efficiency of workers.
1 Mark Questions (To be answered in 1 word or 1 sentence)
53)     The Principles of Management are different from those used in pure
science". Write anyone difference.
54)     Why is it said that the management principles are universal?
55)    Different techniques were developed by Taylor to facilitate the Principles of Scientific Management. One of them was 'Fatigue study'. What is the objective of this study?
56)     List any two principles of "Scientific Management" formulated by Taylor for managing an organization scientifically?
57)     What is meant by principles of management?
58)     State anyone principle of scientific management.
59)     State any one reason why Principles of Management are important.
60)     Give the meaning of mental revolution as suggested by Taylor.
3/4 MARKS QUESTIONS :
61)     Explain the following principles of management:-
a) Equity.
b) Remuneration of Employees.
62)     In your school, you observe that books, are kept in office, chalks in the library and office records in the staffroom. How will that affect the achievement of school objectives? Which aspect of management is lacking and why? As a manager, what steps will you take to rectify the shortcomings?
5/6 Marks Question (to be answered in about 150 words)
63)     Explain any two techniques of Taylor s Scientific Management.
64)     Explain the following principles of Fayol with example.
a) Unity of Command
b) Unity of Direction
c) Order
d) Espirit De Corps.