Podcast
Questions and Answers
Why is coordination required for the efficient working of a business enterprise?
Why is coordination required for the efficient working of a business enterprise?
Coordination ensures that all activities and efforts are synchronized towards achieving the organizational goals.
Explain why stock exchange is referred to as a secondary market.
Explain why stock exchange is referred to as a secondary market.
Stock exchange is a secondary market because it facilitates the buying and selling of existing securities previously issued in the primary market.
What are the advantages of a multifunctional divisional structure in an organization?
What are the advantages of a multifunctional divisional structure in an organization?
Advantages of a multifunctional divisional structure include improved communication, better coordination among functions, and specialized expertise within each division.
Why is organizing function of management considered crucial in any business enterprise?
Why is organizing function of management considered crucial in any business enterprise?
Signup and view all the answers
Explain why the working capital requirement is high for automobiles.
Explain why the working capital requirement is high for automobiles.
Signup and view all the answers
What steps would you take to establish a flying car venture in India?
What steps would you take to establish a flying car venture in India?
Signup and view all the answers
Why are reach, frequency, and impact important concerns in media selection?
Why are reach, frequency, and impact important concerns in media selection?
Signup and view all the answers
Discuss the principles that guide and help the directing function of management.
Discuss the principles that guide and help the directing function of management.
Signup and view all the answers
Why is effective communication considered difficult?
Why is effective communication considered difficult?
Signup and view all the answers
What functions does a stock exchange perform?
What functions does a stock exchange perform?
Signup and view all the answers
Study Notes
Business Studies
- An appeal against the order of the State Commission can be filed in the National Commission.
Managerial Control
- One modern technique of managerial control is unknown due to limited information.
Planning
- Planning is no guarantee of success of a business enterprise.
- Two limitations of planning are unknown due to limited information.
Human Resource Management
- When deciding whether to promote an existing employee or select a candidate from an external source, Radha should consider the strengths and weaknesses of both options and choose the one that best fits the company's needs.
- The company may benefit from promoting an existing employee who is already familiar with the organization's culture and policies.
- On the other hand, selecting a candidate from an external source may bring in fresh perspectives and skills.
Selection Process
- Background checks and medical examinations are necessary in the process of selection to ensure the candidate is trustworthy and capable of performing the job requirements.
Consumer Rights
- As a consumer, it is essential to keep in mind the following responsibilities while buying a new product:
- Check the product's features and warranty.
- Inspect the product's quality and packaging.
- Compare prices and features with other similar products.
Principles of Management
- The two principles of management being violated in the scenario are:
- Scalar Chain (unity of command): each employee should receive orders from only one supervisor.
- Unity of Direction: there should be a single plan and a single direction for a group of activities.
Time Study
- The purpose of time study is to determine a fair day's work.
Elements of Directing
- The correct combination of elements and main purposes is:
- Supervision: overseeing performance.
- Motivation: fulfilling needs.
- Leadership: introducing change.
- Communication: instructing and feedback.
Maslow's Hierarchy of Needs
- Physiological needs include clothing, food, and water.
Marketing Philosophy
- The production concept focuses on the product itself.
Media Selection
- Reach, frequency, and impact are three major concerns underlying media selection.
Entrepreneurship
- To establish a flying car venture in India, an entrepreneur would need to:
- Conduct market research and feasibility studies.
- Secure necessary permits and licenses.
- Develop a business plan and secure funding.
Working Capital Requirement
- The working capital requirement is:
- Low for bread due to its quick production and sale cycle.
- High for automobiles due to their complex production and sale cycle.
- High for made-to-order furniture due to its customization and production cycle.
- High for refrigerators due to their complex production and sale cycle.
- High for woollen garments due to their seasonal demand.
Organizational Structure
- The organization is using a divisional structure.
- Three advantages of a divisional structure are:
- Increased efficiency and specialization.
- Better decision-making and control.
- Improved communication and coordination.
Organising Function
- The organizing function of management plays a crucial role in any business enterprise because:
- It helps to allocate resources efficiently.
- It enables the accomplishment of organizational goals.
- It enhances the overall productivity of the organization.
Barriers to Communication
- The statement "It is difficult to be understood" highlights the barriers to effective communication.
Directing Function
- Three principles that guide and help the directing function of management are:
- Motivation and inspiration.
- Effective communication.
- Leadership and supervision.
Capital Market
- The stock exchange is referred to as a secondary market.
- It performs the function of providing a platform for buying and selling securities.
- The primary market is where companies raise capital through the issuance of new securities.
Coordination
- Coordination is required for the efficient working of a business enterprise because it enables the integration of different departments and functions.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge of business management with questions on appealing against State Commission orders, modern techniques of managerial control, limitations of planning, and recruitment procedures for marketing managers.
