kar board 9 social science 16 chapter

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BUSINESS STUDIES CHAPTER – 16: MANAGEMENT OF BUSINESS

I. Answer the following questions in a sentence.

1. What is management?

Answer :-

  • Generally, management refers to the principles of handling and overseeing the activities of an enterprise.
  • It is also recognized as a distinct field of learning or a branch of knowledge focused on organizational efficiency.

2. What do you mean by decision making?

Answer :- Decision making is the mental process of evaluating and selecting a specific course of action from several available alternatives.

3. What is individual decision and what is collective decision?

Answer :-

  • Individual Decision: In small organizations like sole trading concerns, a single individual takes all decisions.
  • Collective (Group) Decision: Decisions made by a group, such as a Partnership firm, a Board of Directors in a Joint Stock Company, or a Co-operative Society, are called group decisions.

4. What is the principle of authority and responsibility in principles of management?

Answer :- This principle suggests that authority (the right to give orders) and responsibility (the obligation to perform) must go hand-in-hand, balanced by intelligence, experience, and moral worth.

II. Answer each of the following questions in about four to five sentences.

5. What are the principles of management suggested by Henry Fayol?

Answer :- Henry Fayol, known as the Father of General Management, suggested 14 principles:

  • Division of work and Authority/Responsibility
  • Discipline, Unity of command, and Unity of direction
  • Subordination of individual interest to general interest
  • Remuneration of Personnel and Centralisation
  • Scalar chain, Order, and Equity
  • Stability of tenure of personnel, Initiative, and Esprit de corps (team spirit)

6. What are the functional areas of management?

Answer :- The core functional areas are:

  1. Planning
  2. Organising
  3. Staffing
  4. Directing
  5. Co-ordinating
  6. Controlling

7. Write about the authority and responsibility, scalar chain and centralization in principles of management.

Answer :-

  • Authority and Responsibility: Official authority to command must be balanced with personal responsibility for the outcome.
  • Scalar Chain: This refers to the formal line of authority from the highest to the lowest rank, ensuring a clear superior-subordinate relationship.
  • Centralisation: This refers to the degree to which decision-making authority is concentrated at the top levels of management to ensure overall control.

8. What is the need for decision making in management of business?

Answer :-

  • Every business has specific goals; achieving them requires constant decision-making.
  • Even simple tasks involve choices; for example, a businessman must decide between road, rail, or air transport based on cost and speed.
  • Selecting the most economical and suitable alternative is vital for success.
  • Therefore, effective decision-making is the backbone of successful business management.

9. What are the important elements of decision making?

Answer :- The key elements include:

  • Time factor (timeliness of the decision)
  • Past experience and Wisdom
  • Firmness and Boldness in execution
  • Clarity of thought and objective

10. What factors are to be kept in mind, while taking a decision?

Answer :-

  • Deeply analyzing the core problem.
  • Planning the specific course of action to be followed.
  • Maintaining courage and patience during the process.
  • Farsightedness to predict future consequences.
  • The ability to remain quick and wise under pressure.

11. What do you mean by planning and organisation in functional areas of management?

Answer :-

  • Planning: It involves determining the future course of action, setting organizational objectives, and formulating policies, strategies, and schedules.
  • Organising: It is the process of bringing together human (manpower) and material (machines/tools) resources and putting them into working order to achieve goals.

13. What are the main objectives of controlling areas?

Answer :-

  • To create an atmosphere of order and discipline to ensure activities are coordinated.
  • To ensure that the actual performance matches the pre-determined plans and to correct any deviations.

14. “Directing and co-ordinations are very important functions in business management”. How?

Answer :-

  • Directing: This function involves instructing, guiding, and leading employees. Without direction, workers wouldn't know how to reach organizational goals.
  • Co-ordination: This is the "harmonious blending" of activities across different departments. It ensures that all parts of the business work together smoothly toward a common objective.

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