Business Studies 2011 CBSE [ All India ] Set II
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Q1
What should be the ‘focus point’ for a manager while controlling, as controlling at each and every step is not possible?
Marks:1View AnswerAnswer:
The focus point of a manager in controlling should be on ‘Key Result Areas’. These are set as critical points for the success of an organisation.
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Q2
Define Financial Management.
Marks:1View AnswerAnswer:
According to Howard & Upton:
“Financial management involves the application of general management principles to a particular financial operation.” -
Q3
Why it is said that ‘controlling is looking back’?
Marks:1View AnswerAnswer:
The controlling process involves taking corrective action by making a comparison of actual performance with the preset standards. Therefore, it is said that ‘controlling is looking back’.
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Q4
Explain in one sentence how direction is an executive function of management.
Marks:1View AnswerAnswer:
Direction acts as an aid in initiating action by people for achieving the desired goal of the business and therefore, it is an executive function of the management.
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Q5
Business environment includes both “specific and general forces”. List any four general forces.
Marks:1View AnswerAnswer:
The general forces constituting business environment are:
• Social
• Political
• Legal
• Technological -
Q6
“The understanding of business environment enables the firm to identify opportunities”. What is meant by ‘opportunities’ here?
Marks:1View AnswerAnswer:
Here opportunity means the chances for expansion and growth of business through technological advances, exposure to new markets etc.
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Q7
Give the meaning of mental revolution as suggested by F. W. Taylor.
Marks:1View AnswerAnswer:
As suggested by F. W. Taylor, mental revolution implies transformation in thinking of both the management & the workers so that they cooperate with respect to their mutual relations & work efforts.
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Q8
State any one reason why ‘Principles of Management’ are important.
Marks:1View AnswerAnswer:
Principles of management provides fruitful help to managers in taking managerial decisions that are needed time to time in handling complex situations arising in an organisation.
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Q9
Your grandfather has retired from an organization in which he was responsible for implementing the plans developed by the top management. At which level of management was he working? State one more function performed at this level.
Marks:1View AnswerAnswer:
My Grandfather was at the middle managerial level. Direction is another function that he performed in the company.
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Q10
List any two social objectives of management.
Marks:1View AnswerAnswer:
The two social objectives of management are:
• Providing quality products, goods & services resulting in customer satisfaction.
• Preservation & protection of environment by using environment friendly methods of production.
