Business Studies -Class 12- Chapter 1 -Nature and significance of Management

A. Short Answer Type Questions

1. Top management is also known as operational management. Do you agree.

2. "Coordination is not needed at all levels of Management". Is this statement justified?

3. Who is responsible for directing, leading and coordinating the group efforts of employees?

4. Why is it said that" Management is all pervasive"?

5. Hero Ltd.'s target is to produce 10,000 shirts per month at a cost of Rs.100 per shirt. The production manager achieved this target at a cost of Rs.90 per shirt. Do you think the production manager is effective? Give one reason to support your answer.

B. Long Answer type Questions

1. "Management is a series of continuous interrelated functions with no pre-determined sequence." Explain.

2. "Coordination is regarded as the essence of management rather than a separate function of manager." Do you agree with this statement. Give reasons.

3. "In the absence of management, the productive resources will remain resources and shall never become production." Explain the importance of management in the light of above statement.

4. "Management provides effectiveness to human efforts and provides judgement and vision." Explain.

5. " Management is a trinity of an art, science and profession." In the light of this statement explain the nature of management.

6. Sejal is working as 'Regional Manager' in Tifco Ltd. Name the level at which she is working. State any four functions she will perform as 'Regional Manager' in this company.

7. Manika Ltd. was manufacturing water heaters. In the first year of its operations, the revenue earned by the company was just sufficient to meet its costs. To increase the revenue, the company analysed the reasons of less revenues. After analysis the company decided

i. To reduce labour cost by shifting the manufacturing unit to a backward area where labour was available at a very low rate.

ii. To start manufacturing solar water-heaters and reduce the production of electric water-heaters slowly. This will not only help in covering the risks, but Al's help in meeting other objectives too.

a. Identity and explain the objectives of management discussed above.

b. State any two values which the company wanted to communicate to the society.

8. Distinguish between coordination and cooperation.

9. Management seeks to achieve certain objectives. Explain these objectives.

10. 'Management is a set of functions.' Explain.