Business Studies 2011 CBSE [ Delhi] Set I
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Q1
Your grandfather has retired as the Director of a manufacturing company. At which level of management was he working? Different types of functions are performed at this level. State any one function.
Marks:1View AnswerAnswer:
My grandfather was at the top level management. Planning is another function that he performed at this level.
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Q2
What is meant by management?
Marks:1View AnswerAnswer:
Management carries a set of functions directed at the efficient and effective utilisation of available resources with a view to achieve organizational goals and objectives.
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Q3
What is meant by principles of management?
Marks:1View AnswerAnswer:
Management principles are statements of fundamental truth serving as a guideline for decision making and action of managers.
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Q4
State any one principle of scientific management.
Marks:1View AnswerAnswer:
‘Development of each and every person to his or her greatest efficiency and prosperity’ is the principle of scientific management.
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Q5
“The understanding of business environment helps in understanding threats”. What is meant by ‘threats’ here?
Marks:1View AnswerAnswer:
Here, threats mean changes in external environment and trends that can hamper a business firm’s performance and growth.
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Q6
“Business environment includes both specific and general forces.” List any four specific forces.
Marks:1View AnswerAnswer:
The specific forces constituting business environment are investors, customers, suppliers and competitors.
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Q7
Explain in one sentence how direction initiates action in management.
Marks:1View AnswerAnswer:
Direction initiates action by giving instructions & guiding people in doing work.
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Q8
Why it is said that “Controlling is a continuous activity”?
Marks:1View AnswerAnswer:
Controlling completes one cycle of management process and improves planning in the next cycle. in this way, it is considered a continuous activity.
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Q9
What is important while analyzing deviations in controlling?
Marks:1View AnswerAnswer:
‘Acceptable range of deviations’ and ‘deviations in the key areas of the business’ are two important factors which should be kept in mind while analysing deviations.
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Q10
Define financial management.
Marks:1View AnswerAnswer:
According to Howard & Upton:
“Financial management involves the application of general management principles to a particular financial operation.”
