Podcast
Questions and Answers
Which of the following best describes the primary difference between training and development?
Which of the following best describes the primary difference between training and development?
- Training aims to improve current job performance, while development prepares employees for future roles. (correct)
- Training is typically conducted off-the-job, whereas development occurs on-the-job.
- Training is mandatory for all employees, while development is optional and employee-driven.
- Training focuses on long-term career goals, while development addresses immediate job skills.
An employee is struggling with a new software implementation. Which on-the-job training method would be MOST effective for quickly improving their skills?
An employee is struggling with a new software implementation. Which on-the-job training method would be MOST effective for quickly improving their skills?
- Vestibule training in a simulated environment.
- Coaching and mentoring by a supervisor. (correct)
- Job rotation to understand different department functions.
- Apprenticeship with a senior team member.
What is the primary aim of 'directing' in the context of management?
What is the primary aim of 'directing' in the context of management?
- To establish financial controls within the organization.
- To guide and oversee employees in achieving organizational goals. (correct)
- To ensure compliance with legal and ethical standards.
- To develop long-term strategic plans for the company.
According to Maslow's hierarchy of needs, which need should be addressed first?
According to Maslow's hierarchy of needs, which need should be addressed first?
A manager decides to implement a policy where employees are encouraged to generate ideas, participate in decision-making, but the manager still makes the final decision. Which leadership style is the manager employing?
A manager decides to implement a policy where employees are encouraged to generate ideas, participate in decision-making, but the manager still makes the final decision. Which leadership style is the manager employing?
Which of the following is the LEAST likely barrier to effective communication within an organization?
Which of the following is the LEAST likely barrier to effective communication within an organization?
Within the context of organizational control, why is the establishment of clear and measurable standards MOST important?
Within the context of organizational control, why is the establishment of clear and measurable standards MOST important?
How does financial management contribute to an organization's strategic goals?
How does financial management contribute to an organization's strategic goals?
An organization is comprised of diverse individuals with varying needs, all working together to achieve a common organizational goal. Which management feature does this scenario exemplify?
An organization is comprised of diverse individuals with varying needs, all working together to achieve a common organizational goal. Which management feature does this scenario exemplify?
Which level of management is primarily responsible for making sure that each department has the necessary personnel to achieve its goals?
Which level of management is primarily responsible for making sure that each department has the necessary personnel to achieve its goals?
Coordination plays an integral role in ensuring all functions of management work together harmoniously. Which of the following management functions is directly associated with coordination?
Coordination plays an integral role in ensuring all functions of management work together harmoniously. Which of the following management functions is directly associated with coordination?
Which level of management is primarily responsible for the formulation of organizational policies?
Which level of management is primarily responsible for the formulation of organizational policies?
An organization's ability to generate sufficient revenue to cover its costs highlights which management objective?
An organization's ability to generate sufficient revenue to cover its costs highlights which management objective?
Which level of management is highlighted by the function 'To cooperate with other departments for the smooth functioning of the organisation'?
Which level of management is highlighted by the function 'To cooperate with other departments for the smooth functioning of the organisation'?
Ms. Sonia is a section officer at Epson Ltd. At which level of management does she operate?
Ms. Sonia is a section officer at Epson Ltd. At which level of management does she operate?
Which of the following is the force that binds all other functions of management together, ensuring a unified and effective operation?
Which of the following is the force that binds all other functions of management together, ensuring a unified and effective operation?
Which objective of financial management aims to balance risk and profitability to maximize shareholder wealth?
Which objective of financial management aims to balance risk and profitability to maximize shareholder wealth?
A company is considering a project with a high potential return but also a significant risk of loss. Which financial decision is MOST directly involved in this scenario?
A company is considering a project with a high potential return but also a significant risk of loss. Which financial decision is MOST directly involved in this scenario?
Which factor, when deciding on capital structure, focuses on maintaining the ability to meet short-term obligations?
Which factor, when deciding on capital structure, focuses on maintaining the ability to meet short-term obligations?
Which of the following pairs correctly matches a management term with its description?
Which of the following pairs correctly matches a management term with its description?
A company is developing a long-term strategy for raising capital, managing expenses, and investing in assets. This activity aligns with which concept?
A company is developing a long-term strategy for raising capital, managing expenses, and investing in assets. This activity aligns with which concept?
Which of the following is the MOST significant factor a company should consider when determining its optimal capital structure?
Which of the following is the MOST significant factor a company should consider when determining its optimal capital structure?
Yash Ltd. is experiencing declining profits and market share due to departmental conflicts. Which management quality is the company primarily lacking?
Yash Ltd. is experiencing declining profits and market share due to departmental conflicts. Which management quality is the company primarily lacking?
A manufacturing company is considering investing in new machinery to increase production capacity. This investment primarily affects which type of capital requirement?
A manufacturing company is considering investing in new machinery to increase production capacity. This investment primarily affects which type of capital requirement?
In the context of Yash Ltd.'s problems, what is the MOST significant benefit of improved coordination between departments?
In the context of Yash Ltd.'s problems, what is the MOST significant benefit of improved coordination between departments?
If a company is seeking short-term funds to manage its day-to-day operational expenses, which market would it MOST likely utilize?
If a company is seeking short-term funds to manage its day-to-day operational expenses, which market would it MOST likely utilize?
As organizations grow, the need for coordination typically:
As organizations grow, the need for coordination typically:
An investor purchases shares of a company directly from the company during its initial public offering (IPO). In which market does this transaction take place?
An investor purchases shares of a company directly from the company during its initial public offering (IPO). In which market does this transaction take place?
Functional differentiation within an organization necessitates coordination to:
Functional differentiation within an organization necessitates coordination to:
Why is coordination particularly important in organizations with a high degree of specialization?
Why is coordination particularly important in organizations with a high degree of specialization?
Vee Ltd.'s management emphasizes teamwork and integration of efforts. Which management principle BEST aligns with this philosophy?
Vee Ltd.'s management emphasizes teamwork and integration of efforts. Which management principle BEST aligns with this philosophy?
What is the relationship between coordination and organizational goals?
What is the relationship between coordination and organizational goals?
A company exceeded its target sales at the end of the month. Which management function is exemplified by comparing the actual sales with the targeted sales?
A company exceeded its target sales at the end of the month. Which management function is exemplified by comparing the actual sales with the targeted sales?
Megha Ltd. decided to shift its manufacturing unit to a backward area to reduce labor costs. Which type of organizational objective does this decision primarily address?
Megha Ltd. decided to shift its manufacturing unit to a backward area to reduce labor costs. Which type of organizational objective does this decision primarily address?
Megha Ltd. began manufacturing solar water-heaters to reduce the production of electric water-heaters. Which objective of management is the company trying to meet?
Megha Ltd. began manufacturing solar water-heaters to reduce the production of electric water-heaters. Which objective of management is the company trying to meet?
Mr. Aditya is responsible for framing the plans and policies of M/s Evershine Industries. At which level of management is he working?
Mr. Aditya is responsible for framing the plans and policies of M/s Evershine Industries. At which level of management is he working?
Which organizational objective focuses on ensuring the company's ability to sustain operations over an extended period?
Which organizational objective focuses on ensuring the company's ability to sustain operations over an extended period?
A manager applies their conceptual knowledge of management along with personal skills. Which nature of management is indicated in this statement?
A manager applies their conceptual knowledge of management along with personal skills. Which nature of management is indicated in this statement?
Which importance of management is highlighted when a company successfully implements new changes within the organization?
Which importance of management is highlighted when a company successfully implements new changes within the organization?
A manager maintains an orderly arrangement of group efforts to align actions towards a common company purpose. Which process is being referred to?
A manager maintains an orderly arrangement of group efforts to align actions towards a common company purpose. Which process is being referred to?
In the 'AapkaVidyalaya' scenario, which principle of management was most directly applied to ensure the success of the foundation day program?
In the 'AapkaVidyalaya' scenario, which principle of management was most directly applied to ensure the success of the foundation day program?
Karan Nath implemented changes at 'D’ North Motor Company based on the belief that there is one best way to maximize efficiency. Which principle of scientific management does this align with?
Karan Nath implemented changes at 'D’ North Motor Company based on the belief that there is one best way to maximize efficiency. Which principle of scientific management does this align with?
If 'AapkaVidyalaya' decided to assign specific roles and associated powers strictly according to the skills of each prefect, which management principle would they be emphasizing?
If 'AapkaVidyalaya' decided to assign specific roles and associated powers strictly according to the skills of each prefect, which management principle would they be emphasizing?
Suppose Karan Nath also focused on fostering a culture of mutual understanding between the management and workers. Which principle of scientific management would this represent?
Suppose Karan Nath also focused on fostering a culture of mutual understanding between the management and workers. Which principle of scientific management would this represent?
If, midway through planning the foundation day programme, some members of the prefect committee at 'AapkaVidyalaya' began to prioritize their own interests over the group's objectives. Which principle is being weakened?
If, midway through planning the foundation day programme, some members of the prefect committee at 'AapkaVidyalaya' began to prioritize their own interests over the group's objectives. Which principle is being weakened?
Had Karan Nath chosen to rely solely on his past experiences rather than adopting the production manager's method study, which principle of scientific management would he be neglecting?
Had Karan Nath chosen to rely solely on his past experiences rather than adopting the production manager's method study, which principle of scientific management would he be neglecting?
If 'AapkaVidyalaya' allowed some students to take on additional responsibilities in the organization of the foundation day, without giving them the necessary decision-making power, what would it indicate?
If 'AapkaVidyalaya' allowed some students to take on additional responsibilities in the organization of the foundation day, without giving them the necessary decision-making power, what would it indicate?
Suppose the production manager at ‘D’ North Motor Company suggested that workers should only focus on maximizing their individual output and ignore the needs of the overall team. Which principle of scientific management would he be violating?
Suppose the production manager at ‘D’ North Motor Company suggested that workers should only focus on maximizing their individual output and ignore the needs of the overall team. Which principle of scientific management would he be violating?
Flashcards
Training
Training
Systematic process of teaching new or existing employees the technical skills to perform a specific job.
Development
Development
Preparing employees for future responsibilities and roles within the organization, focusing on broader skills and knowledge.
On-the-Job Training
On-the-Job Training
Training conducted in the actual work environment, where employees learn while performing their job duties.
Off-the-Job Training
Off-the-Job Training
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Directing
Directing
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Motivation
Motivation
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Authoritative Leadership
Authoritative Leadership
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Controlling
Controlling
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Financial Management Objectives
Financial Management Objectives
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Three Financial Decisions
Three Financial Decisions
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Financial Planning
Financial Planning
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Capital Structure
Capital Structure
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Fixed vs. Working Capital
Fixed vs. Working Capital
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Financial Market
Financial Market
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Money Market
Money Market
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Stock Exchange
Stock Exchange
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Individual Objective (Management)
Individual Objective (Management)
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Social Objective (Management)
Social Objective (Management)
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Management: Group Activity
Management: Group Activity
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Pervasive Function
Pervasive Function
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Middle Level Responsibility
Middle Level Responsibility
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Coordination
Coordination
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Policy Formulation
Policy Formulation
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Survival (Org Objective)
Survival (Org Objective)
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Directing (in management)
Directing (in management)
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Controlling (in management)
Controlling (in management)
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Survival (Organizational Objective)
Survival (Organizational Objective)
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Profit (Organizational Objective)
Profit (Organizational Objective)
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Growth (Organizational Objective)
Growth (Organizational Objective)
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Social Objective (of Management)
Social Objective (of Management)
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Top-Level Management Role
Top-Level Management Role
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Management's Role in Change
Management's Role in Change
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Effectiveness
Effectiveness
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Middle Level Management
Middle Level Management
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Efficiency
Efficiency
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Impact of Poor Coordination
Impact of Poor Coordination
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Coordination & Growth in Size
Coordination & Growth in Size
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Coordination & Functional Differentiation
Coordination & Functional Differentiation
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Coordination & Specialization
Coordination & Specialization
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Authority
Authority
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Responsibility
Responsibility
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Initiative
Initiative
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Equity
Equity
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Division of Work
Division of Work
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Esprit de Corps
Esprit de Corps
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Science, not Rule of Thumb
Science, not Rule of Thumb
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Harmony, not discord
Harmony, not discord
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Study Notes
- This material is study support material for Business Studies, class XII, for the academic year 2024-25.
- It is designed to help students understand the key concepts in the curriculum.
Message from Nidhi Pande, Commissioner, Kendriya Vidyalaya Sangathan
- The Central Vidyalaya Sangathan prioritizes academic excellence in school education.
- Students, teachers, and educational leaders are continuously working toward improvement.
- The National Education Policy 2020 emphasizes competency-based learning and evaluation.
- Meeting standards and following CBSE guidelines makes current efforts more challenging.
- The 'Student Support Material' compiled by the five Zonal Institutes of Education and Training (ZIETs) of Kendriya Vidyalaya Sangathan is an important step in this direction.
Index
- This material outlines the CBSE curriculum and question paper design for 2024-25.
- It provides topic-wise support, covering principles and functions of management, business finance, and marketing.
- It includes CBSE board question papers from March 2024 with marking schemes.
Business Studies Class XII (2024-25) Structure
- Part A focuses on Principles and Functions of Management, allotting 110 periods and 50 marks.
- Part B covers Business Finance and Marketing with 80 periods and 30 marks.
- Part C is dedicated to Project Work, accounting for 30 periods and 20 marks.
Part A - Principles and Functions of Management - Unit 1: Nature and Significance of Management
- This unit covers the concept, objectives, and importance of management.
- It examines management as a science, art, and profession.
- The unit also discusses levels of management, the functions of management, and coordination.
Principles of Management - Unit 2
- This section will improve comprehension of management principles and their significance.
- Principles formulated by Fayol will be explored.
- Explores 'Scientific Management' along with its techniques from Taylor.
- A comparison will be made between the contributions of Fayol and Taylor.
Business Environment - Unit 3
- This unit will improve comprehension of 'Business Environment' and its importance.
- The various dimensions of 'Business Environment', such as Economic, Social, Technological, Political, and Legal, will be discussed.
- The concept and components of demonetization will be explored.
Planning - Unit 4
- This unit will improve comprehension of various types of plans, like Objectives, Strategy, Policy, Procedure, Method, Rule, Budget and Programme.
- The concept, importance, and limitations of planning will be discussed.
- The steps in planning procedures will be explored.
Organising - Unit 5
- Concepts, importance, and steps in the organizing process will be discussed.
- Students will learn about functional and divisional structures of organization.
- Advantages, disadvantages, and suitability of functional and divisional structures will be covered.
- The concept of formal and informal organizations, including advantages and disadvantages.
- Learn about the elements of delegations with and the importance of delegation.
- The concepts and importance of decentralization will be discussed.
- Differentiation between delegation and decentralization.
Staffing - Unit 6
- This unit explores the concept and importance of staffing.
- It looks at staffing as a part of Human Resource Management.
- Additionally, it covers the staffing process, recruitment, and selection.
Directing - Unit 7
- This unit focuses on the concept and importance of directing.
- It explores the elements of directing including motivation, leadership, and communication.
- Includes study of Maslow's hierarchy of needs.
Controlling - Unit 8
- Key lessons include insight to the concept and importance of controlling,
- Students will gain familiarity with the relationship between planning and controlling.
- The discussion includes the process involved in control and management.
Unit 9: Financial Management
- This unit includes discussion on the concept, role, and objectives of financial management.
- Exploration of financial decisions like investment, financing, and dividend factors affecting them.
- Discussion of the objectives, concept, and importance of collecting data by financial planning .
- Insights on the concept of capital structure and factors that affect it in a practical structure.
- Discussion with both the concept and affecting requirements elements involved in fixed and working capital.
Unit 10: Financial Markets
- This section aims to describe the concept of financial markets, money markets, and capital markets.
- To Explain primary and secondary markets as types of capital market.
- Students should be able to differentiate between capital and the money market, as well as primary and the secondary markets.
- Understanding of stock exchange functions and trading procedures.
Unit 11: Marketing
- Understand the details of marketing with concepts functions and philosophies.
- Breakdown detail about marketing mix with concept and elements, as well as understanding what it is.
- Description the product branding and the package process is like including concept, labelling all around.
- Provides an outline on how factors determine price, and concepts for marketing in a elements way.
- Discussion with element channels on physical distribution
- Provides context to promotion elements and what the role the concept is.
Unit 12: Consumer Protection
- This unit aims to establish the concept of consumer protection, it's importance, and it's scope according to law.
- Legal rights and consumer awareness are discussed according to organisations.
- Reference to the Consumer Protection Act, 2019 with the rights and responsibilities of consumers.
- Details of redressal machinery and available remedies for complaints.
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