Download CBSE Class 12 Business Studies Nature And Significance Of Management Notes in PDF format. All Revision notes for Class 12 Business Studies have been designed as per the latest syllabus and updated chapters given in your textbook for Business Studies in Class 12. Our teachers have designed these concept notes for the benefit of Class 12 students. You should use these chapter wise notes for revision on daily basis. These study notes can also be used for learning each chapter and its important and difficult topics or revision just before your exams to help you get better scores in upcoming examinations, You can also use Printable notes for Class 12 Business Studies for faster revision of difficult topics and get higher rank. After reading these notes also refer to MCQ questions for Class 12 Business Studies given on studiestoday
Revision Notes for Class 12 Business Studies Chapter 1 Nature and Significance of Management
Class 12 Business Studies students should refer to the following concepts and notes for Chapter 1 Nature and Significance of Management in Class 12. These exam notes for Class 12 Business Studies will be very useful for upcoming class tests and examinations and help you to score good marks
Chapter 1 Nature and Significance of Management Notes Class 12 Business Studies
Linking of Class XI syllabus:
1. In sole proprietorship business, the owner him‐self manages his business.
2. In Partnership business all partners or any one partner on behalf of other partners can manage the business.
3.In HUF ‘Karta’ manages the business.
4. But in a Joint Stock Company, it is managed by professionally qualified managers. So in this context, the need for management arises.
CONCEPT MAPPING
Concept: Management is the process of planning, organising, staffing, directing and controlling the resources efficiently and effectively for achieving the organisational goals.
Characteristics: (a) goal oriented process, (b) pervasive, (c) multidimensional (d) group activity, (e) continuous process, (vi) dynamic function, (vii) intangible force
Objectives : (a) organisational (b) social, and (c) personal objectives
Importance: (a) achieves group goals (b) increases efficiency (c) creates dynamic organization (d) helps
achieve personal goals (e) development of society
Management as Art: Theoretical knowledge, personal application, based on practice, creativity
Management as a Science : (a) Systematic body of knowledge (b) principles dpplication,
base on a(c) universal validity Management as a Profession: (a) well defined body of knowledge (b). restricted entry (c) professional association (d) ethical code of conduct Management fulfills
some but not all of these requirements
Levels of management: (a) Top Level management (b) Middle Level management (c) Supervisory or operational or lower level management
Functions of Maniagement: Planning, organising, staffng, directing and controlling
Coordination : The process of achieving unity of action among interdependent activities and departments of an organisation. It is the essence of management as it is required in all managerial functions.
KEY CONCEPTS IN NUTSHELL
1.MEANING/CONCEPT OF MANAGEMENT: Management is the process of getting things done with the aim of achieving goals effectively and efficiently.
• Process: refers to the primary function like planning, organising, staffing, directing and c.
ontrolling performed by the management to get things done
• Effectiveness: means completing the right task to achieve the deputed goal within the time frame.
• Efficiency: means completion of task using minimum resources
2.DEFINITION OF MANAGEMENT: “Management is the process of working with and through others to effectively achieve the organisational objectives by efficiently using limited resources in the changing environment.”
3. Staffing Finding and placing the right person at the right job at the right
4. Directing Leading, influencing, motivating the staff chosen to perform the assigned task efficiently and effectively.
5. Controlling ‐ Ensuring/Monitoring the activities in an organisation are performed as per the plan.
4. Nature of Management: As an art, As a science and As a professio
5. MANAGEMENT OBJECTIVES Organisational Objectives:
Survival: Ensure that the organisation survives and exists in the future. Profitability: Earning adequate profit in order to survive and grow Growth: Growth indicates how well it exploits the potential opportunities.
SocialObjectives:
• Producing quality products at reasonable rates,
• generating employment opportunities,
• Community progress and development by providing schools and crèches to employees In fact most of the firms have taken upon themselves the concept of social responsibility as one of the basic element of business objectives .
• Environmental friendly method of production.
PersonalObjectives:
• Meeting the Financial needs like competitive salaries and perks
• Social and safety needs of the employee like peer recognition, self respect and respect for colleagues
• Higher level needs like implementation and monitoring of policies for personal growth and survival
• Reconcile personal goals with organisational objectives for harmony in the organisation.
6. IMPORTANCE OF MANAGEMENT
• Aids in achievement of individual and organisational goals
• Increases efficiency
• Enhances optimum utilisation of resources
• Creates a dynamic organisation
• Promotes development of society
7. LEVELS OF MANAGEMENT
Top level: Designations and Functions
• Comprises of CEO, Board of Directors, MD, GM, VP
• Conceptualising of organisational goal, policy and strategy formulation
• Organising , Controlling and Monitoring activities and resources
• Controlling the work performance
• Approving Budgets
MiddleLevel: Designations and Functions
• Comprises of Departmental, Sub‐Departmental and Divisional heads.
• Execution of plans, policies framed by the top level management
• Preparing organisational set up & appointing employees
• Issuing instructions and motivating employees
• Ensuring interdepartmental cooperation
LowerLevel: Designations and Functions
• Forwarding suggestions and feedback to the top level
• Comprise of Supervisors, Foremen and inspectors
• Maintain Morale, safety and discipline amongst the work force
• Oversee the work of the workers
• Assist the management in selection, training, placement & promotion of workers
8. NATURE OF MANAGEMENT As an art:
• Existence of theoretical knowledge.
• Developed through Practical and creative process.
• Personalised application and skill
Asa Profession:
• Well defined body of knowledge.
• Existence of code of conduct
• Professional association (AIMA)
• Restricted entry
• Fees as remuneration for their services
Asa Science:
• Arranged, organised systematic body of knowledge
• Universal validity
• Principles arrived at after experimentation
9. COORDINATION
It is the synchronisation of various activities and efforts in an organisation providing the required amount of quality, timing and sequence; thus ensuring the achievement of the planned goal with minimum content.
10. FEATURES OF COORDINATION:
• Integrates Group Effort: It is an orderly arrangement of group effort and not individual effort
• Ensures unity of action: It is a binding force between departments and ensures that all efforts are focussed towards achieving the organisational goal
• It is a Continuous Process never ending process as its needs are felt at all levels and steps in the organisations. It begins at the planning stage and continues till controlling
• It remains the function and responsibility of every manager: the top level coordinates the overall plan, middle level coordinates the efforts of the different sections and subsections and lower level management coordinates the activities of the workers.
Q14. Amit and Kavya, complete their school education together. After that Amit appears and qualifies MBBS entrance examinations and joins a reputed Medical college to pursue a degree in medicine. After 4 years, he will get a degree from Medical council of India and start practicing as a doctor. Kavya had to take over her mother’s business as she passes away in a tragic accident. She assumes the post of Managing Director’ in the company. Kavya also joins National Open School to complete her graduation along side.
On the basis of above para identify and explain the main features of a profession. Also, share your views on whether management is a profession or not.
Q15. Prime Minister of India, launched the Swaach Bharat Abhiyan and urged all the citizens and business organizations to actively support it. Keeping this in mind, Armour Helments Pvt. Ltd. decided to contribute by installing 500 dustbins in and around major markets of the city.
Which objective of management is the company trying to fulfill by this act?
ANSWERS
Answer 1: The company is lacking an important aspect of management that is Coordination. Here production department, marketing department and finance department are not working in unity for achieving the goals of the organization due to which return on investment and market share is declining.
To bring company back on track proper coordination should be ensured. Coordination will help in integrating activities of separate units of an organization to accomplish the goals efficiently.
Favourable environment should be created where departments instead of blaming each other can work in harmony with each other for improving the current situation of the company.
Answer 4: Top level management
Answer 6: a. Social Objectives have been discussed in the given situation. The social objectives of an organisation basically involves the creation of benefit and development of the society. The
following are some of the social objectives of management that are being indicated in the given situation.
i. Producing environment friendly products such as solar lanterns.
ii. Setting-up a factory of solar lanterns in order to provide electricity in rural areas.
iii. Providing employment opportunities to the needy.
Answer 10: He is effective but not efficient
Please click the link below to download pdf file for CBSE Class XII Business Studies - Nature and Significance of Management Notes.
CBSE Class 12 Business Administration Concept of People Management Notes |
CBSE Class 12 Business Studies Nature And Significance Of Management Notes |
CBSE Class 12 Business Studies Principles Of Management Notes |
CBSE Class 12 Business Administration Business Comunication Notes |
CBSE Class 12 Business Studies Business Environment Notes |
CBSE Class 12 Business Studies Planning Notes |
CBSE Class 12 Business Studies Organising Notes |
CBSE Class 12 Business Studies Staffing Notes |
CBSE Class 12 Business Studies Directing Notes |
CBSE Class 12 Business Studies Controlling Notes |
CBSE Class 12 Business Studies Financial Management Notes |
CBSE Class 12 Business Studies Financial Markets Notes |
CBSE Class 12 Business Studies Marketing Management Notes |
CBSE Class 12 Business Studies Consumer Protection Notes |
Supplementary Study Material For New Syllabus For Business Studies |
More Study Material
CBSE Class 12 Business Studies Chapter 1 Nature and Significance of Management Notes
We hope you liked the above notes for topic Chapter 1 Nature and Significance of Management which has been designed as per the latest syllabus for Class 12 Business Studies released by CBSE. Students of Class 12 should download and practice the above notes for Class 12 Business Studies regularly. All revision notes have been designed for Business Studies by referring to the most important topics which the students should learn to get better marks in examinations. Studiestoday is the best website for Class 12 students to download all latest study material.
Notes for Business Studies CBSE Class 12 Chapter 1 Nature and Significance of Management
Our team of expert teachers have referred to the NCERT book for Class 12 Business Studies to design the Business Studies Class 12 notes. If you read the concepts and revision notes for one chapter daily, students will get higher marks in Class 12 exams this year. Daily revision of Business Studies course notes and related study material will help you to have a better understanding of all concepts and also clear all your doubts. You can download all Revision notes for Class 12 Business Studies also from www.studiestoday.com absolutely free of cost in Pdf format. After reading the notes which have been developed as per the latest books also refer to the NCERT solutions for Class 12 Business Studies provided by our teachers
Chapter 1 Nature and Significance of Management Notes for Business Studies CBSE Class 12
All revision class notes given above for Class 12 Business Studies have been developed as per the latest curriculum and books issued for the current academic year. The students of Class 12 can rest assured that the best teachers have designed the notes of Business Studies so that you are able to revise the entire syllabus if you download and read them carefully. We have also provided a lot of MCQ questions for Class 12 Business Studies in the notes so that you can learn the concepts and also solve questions relating to the topics. All study material for Class 12 Business Studies students have been given on studiestoday.
Chapter 1 Nature and Significance of Management CBSE Class 12 Business Studies Notes
Regular notes reading helps to build a more comprehensive understanding of Chapter 1 Nature and Significance of Management concepts. notes play a crucial role in understanding Chapter 1 Nature and Significance of Management in CBSE Class 12. Students can download all the notes, worksheets, assignments, and practice papers of the same chapter in Class 12 Business Studies in Pdf format. You can print them or read them online on your computer or mobile.
Notes for CBSE Business Studies Class 12 Chapter 1 Nature and Significance of Management
CBSE Class 12 Business Studies latest books have been used for writing the above notes. If you have exams then you should revise all concepts relating to Chapter 1 Nature and Significance of Management by taking out a print and keeping them with you. We have also provided a lot of Worksheets for Class 12 Business Studies which you can use to further make yourself stronger in Business Studies
You can download notes for Class 12 Business Studies Chapter 1 Nature and Significance of Management for latest academic session from StudiesToday.com
Yes, you can click on the link above and download notes PDFs for Class 12 Business Studies Chapter 1 Nature and Significance of Management which you can use for daily revision
Yes, the notes issued for Class 12 Business Studies Chapter 1 Nature and Significance of Management have been made available here for latest CBSE session
You can easily access the link above and download the Class 12 Notes for Business Studies Chapter 1 Nature and Significance of Management for each topic in Pdf
There is no charge for the notes for CBSE Class 12 Business Studies Chapter 1 Nature and Significance of Management, you can download everything free of charge
www.studiestoday.com is the best website from which you can download latest notes for Chapter 1 Nature and Significance of Management Business Studies Class 12
Come to StudiesToday.com to get best quality topic wise notes for Class 12 Business Studies Chapter 1 Nature and Significance of Management
We have provided all notes for each topic of Class 12 Business Studies Chapter 1 Nature and Significance of Management as per latest CBSE syllabus