CBSE Board Exam 2020: Check Important Questions & Answers for Class 12 Business Studies – Chapter 1 (Nature and Significance of Management)

CBSE Class 12 Business Studies

The important set of questions of CBSE Class 12th Business Studies ( Chapter 1: Nature and Significance of Management) are given here. The exam of CBSE class 12th Business Studies will be on 24th March 2020. The given long and short type questions answers are expected for the upcoming CBSE board exam 2020.

Q1- Explain the term Management?

Ans– Management is a process of getting the work done that is important for an organization to achieve its goal in an efficient and effective manner.

 Q 2- What are the two important characteristics of management.

Ans- The two important characteristics of management are mentioned below:

Continuous Process– It is a continuous processThe various functions of management i.e controlling, organising, planning, directing and staffing must be performed on a regular basis by the managers. It must be noted that the priority of the manager may differ on a regular basis.

Pervasive– Management is pervasive in all forms of organisations. Meaning all organisations, whether large or small, working for any interest or in any region needs management for the smooth functioning.

Q3- State the basic features of management as a profession

Ans- The basic features of management as a profession are:

Entry Restriction Being a manager doesn’t require any specific qualifications or degrees, however, professional knowledge in terms of diplomas and degree as well as experience is required. These basic requirements restrict the entry of people in the management field.

Synchronized Knowledge– Management can be defined as a well-defined body of knowledge consisting of principles and theories. This knowledge is gained through various colleges, institutes, and books.

Code of Conduct– Ethical code makes sure of the management which is effective and efficient in its manner. It ensures that the goods and services are provided at a fair price.

Q 4- Coordination is the essence of management. Do you agree? Give reasons.

Ans- Coordination is no doubt the essence of management. Coordination means a path which links up the group functions. It starts from the stage of planning where the objectives and goals of the organisations are set. Division interdependence, common goal, and work allotted are few of the reasons which signify the essence of the management.

Q 5- Why do you think management has the characteristics of a full-fledged profession?

Ans- There are few characteristics of management making it a full-fledged profession:

  • Professional Association– A professional must be a member or have an association with a statutory body that is responsible for stating the laws.
  • Code of Conduct: Professional of any organisation has to abide by the rules and regulations which are responsible for regulating the functions of that profession. There is a set Code of Conduct that the professional must follow for the smooth functioning of the organisation
  • Systemized Knowledge– Management has a systemized set of Developed on several theories and principles over years along with continuous experimentation and observation.

Q 6- Mention any two social objectives of management.

Ans- The two social objectives of management are:

  • Create employment opportunities for the disadvantaged section of society
  • To give the basic facilities to its employees

Q 7- State two points proving management is multidimensional

Ans-The two points which prove management is multidimensional are:

  • People management
  • Work Management

Q8- Management is to be considered both science and art. Explain

Ans- The parts of both science and art can be considered in management. Art is the involvement of theories and hypotheses while developing the management of an organisation.

While with experimentation and observation, the rules of science can be easily applicable to the managerial system.

Q9- ‘Management is considered to be three-tier machinery’. Why?

Ans- Management is considered to be three-tier machinery because of the three levels involved:

  • Hierarchy-top
  • Middle
  • Operation

Q10- How coordination integrate group efforts? Explain briefly

Ans- Coordination leads to group efforts by bringing together different interests and giving a common focus. It assures that the performance is according to the plans and strategies.