Business Studies: 2017: CBSE: [Delhi]: Set – I
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Give the meaning of Motivation as an element of directingMarks:1
Motivation as an element of directing is the process of stimulating people to work for achievement of goals.
Differentiate between formal and informal organization on the basis origin.Marks:1
On the basis of origin:
Formal organization originates as a result of rules and regulations in an organization, whereas Informal organization originates as result of social interaction between people.
Why is employment interview conducted in the process of selection?Marks:1
Employment interview is an in-depth conversation with the candidate so as to seek information about the applicant as well as analyse their suitability for the job.
Alpha Enterprises is a company manufacturing water geysers. The company has functional structure with four main functions Production, Marketing, Finance and Human resources. As the demand for product grew, the company decided to hire more employees. Identify the concept which will help the Human Resource Manager in deciding the actual number of persons required in each department.Marks:1
The concept that will help the Human Resource Manager is workload analysis which helps to estimate the number and type of personnel required in different departments or jobs.
Hina Sweets is a renowned name for quality since 1935. Harsh the owner of Hina Sweets was worried as the sales had declined during the last three months. When he enquired from the sales manager, the Sales Manager reported that there were some complaints about the quality of sweets. Therefore Harsh ordered for sample checking of sweets.
Identify the step taken by Harsh that is related to one of the functions of management.Marks:1
The management function performed by Harsh is controlling. The step taken under this function is measurement of actual performance by ordering to check the quality of sweets.
What is meant by financial management?Marks:1
Financial management is related to optimum utilization of funds acquired through different sources of finance for the purpose of investing these funds in most profitable projects
Meca ltd. a reputed automobile manufacturer needs rupees ten crores as additional capital to expand its business. Atul Jalan, the CEO of the company wanted to raise funds through equity. On the other hand, the Finance Manager, Nimi Sahdev said that the public issue may be expensive on account of various mandatory and non-mandatory expenses. Therefore, it was decided to allot the securities to institutional investors. Name the method through which company decided to raise the capital.Marks:1
The company decided to raise additional through Private placement. In this method, securities are allotted to institutional investors by the company.
Sunita took her niece, Aishwarya for shopping to Benetton to buy her a dress on the occasion of her birthday. She was delighted when on payment for the dress, she got a discount voucher to get 20% off for a meal of ₹ 500 or above at a famous eating joint.
Identify the technique of sales promotion used by the company in the above situation.Marks:1
The technique of sales promotion used is usable benefit. This technique helps to boosts sales of the company.
Explain unity of command and equity as principles of general managementMarks:3
1. Unity of command- this principle of Fayol states that employee should get orders from only one superior. It aims to avoid confusion and conflicts in an organization and ensures smooth communication among superior and subordinates.
Example: Param gets order from his sales manager to sell more products so as to increase profits. On the other hand, he gets instructed by the finance manager to reduce selling expenses, this kind of situation can create confusion and lead to conflict of work.
2. Equity: this principle by Fayol emphasizes on treating each and every employee equally, irrespective of their gender, caste, religion, etc. there should be no distinction between individuals and mangers should behave fairly towards every employee.
Example: due to globalization, many companies have diversified workforce from different countries around the world. The global organisations aim at promoting equality between individuals by giving them all the opportunity to enhance their development.
State any three points of importance of planning function of managementMarks:3
The importance of planning is:
1. Planning gives directions: every organization has objectives which are to be achieved for its success. Planning helps in accomplishing these objectives through policy formulation and provides direction which guides the activities of the organization.
2. Planning helps in decision making: before setting objectives, every organization identifies and evaluates different alternatives. Planning helps to choose the best possible alternative and helps to implement it.
3. Planning reduces uncertainty: due to dynamic business environment, organisations have to keep up with changes. Planning helps to predict and analyse these changes, thus helping in minimizing the risk and uncertainties in future.