Business Studies : Part - II 2003 CBSE [ All India ] Set I

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  • Q1

    Differentiate between management and administration on the basis of level of authority and nature of organisation.

    Marks:2
    Answer:

    Basis of difference

    Administration

    Management

    1.Level of authority

    More important at higher level of management.

    More important at lower level of management.

    2.Nature of Organisation

    It is concerned with policy and decision making.

    It is concerned with functions.

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  • Q2

    How does the technique of “Time Study’ help to improve the efficiency of workers. Give any two points in support of your answer.

    Marks:2
    Answer:

    Time study is an art of observing and recording the time required to do each detailed element of an industrial operation. The purpose of time study is to determine the precise time required for each element of a man’s work. It helps in fixing the standard time required to do a particular job.

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  • Q3

    What is the modern concept of ‘marketing’?

    Marks:2
    Answer:

    The modern concept views marketing as a consumer oriented activity. It emphasises on determining the customer's  requirements and supplying the products to meet these requirements. The customer's satisfaction is considered to be supreme.

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  • Q4

    Define money market.

    Marks:2
    Answer:

    Money market is a market for short-term funds meant for use for a period of upto one year. This market constitutes a major source of working capital market. The important money market instruments or securities are:
    i)    Call Money
    ii)   Treasury Bills
    iii)  Trade Bills
    iv)  Commercial Papers
    v)   Certificate of deposit

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  • Q5

    Explain briefly the principle of ‘equity.’

    Marks:2
    Answer:

    The principle of equity suggests that similar treatment should be assured to people in similar positions. This principle implies that managers should be fair and impartial while dealing with their subordinates e.g. workers performing similar jobs should be paid same wage rates and requisites.

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  • Q6

    Define ‘Organisation as a structure’.

    Marks:3
    Answer:

    Organisation as a structure can be defined as a system of job positions, the roles assigned to them and the authority vis-a-vis relationship among various positions. The structure provides a basis or framework for managers and other employees for performing their functions.

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  • Q7

    Explain, in brief, any three objectives of financial management.

    Marks:3
    Answer:

    Following are the various objectives of Financial Management:
    1.To ensure the availability of sufficient funds at a reasonable cost.
    2.To ensure effective utilisation of funds.
    3.To ensure the safety of funds through creation of reserves, reinvestment of profits etc.

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  • Q8

    What are different brand name strategies?

    Marks:3
    Answer:

    Following are the important brand name strategies:
    1. Individual Branding.
    2. Blanket Family Branding.
    3. Separate Family Branding.
    4. Company name combined with individual name.

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  • Q9

    How does the 'directing' function bring about balance in the organisation?

    Marks:3
    Answer:

    Directing comprises of elements like supervision, motivation, leadership and communication. Hence, it brings about balance in the organisation following a balance in the following four important functions:
    i) Supervision: It is an important element of directing that aims at overseeing the employee's work and it is an important factor of management too. For an effective management, there should be keen observation or supervision.
    ii) Motivation: Motivation refers to stimulating the employees to perform actions to accomplish the work. It is also an important factor of management and is necessary for effective management.
    iii) Leadership: It is the process of influencing the people to work willingly for group activity. For a good management system it is an important constituent.
    iv) Communication: It is also one of the most important factors of management. It is the process of transmission of message, information etc.

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  • Q10

    Distinguish between formal and informal organisation on the basis of:
    (a) emphasis
    (b) flow of authority, and
    (c) tenure.

    Marks:3
    Answer:

    Basis of Difference

    Formal Organisation

    Informal organisation

    1. Emphasis

    Emphasis is given to organisational goals.

    Emphasis is given to social and cultural needs.

    2. Flow of Authority

    Authority flows vertically.

    Flow of authority is horizontal.

    3. Tenure

    It is more stable and has more tenure.

    It is unstable and dynamic because it is based on informal rules.

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