NCERT Solutions for Class 12 business-studies covers all the questions given in the NCERT book. You can study and download these question and their solutions free from this page. These solutions are solved by our specialists at SaralStudy.com, that will assist all the students of respective boards, including CBSE, who follows NCERT; with tackling all the questions easily. We give chapter wise complete solutions for your straightforwardness.
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Chapter 1 Nature and Significance of Management
Management is the process of planning, organizing, directing and controlling the efforts of members and resources of the organisation to achieve the organizational goals effectively and efficiently. This chapter also explains the objective of management, functions of management, nature of management, coordination, the essence of management and various levels of management.
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Chapter 2 Principles of Management
Principles of management are general guidelines, which can be used for conduct in work places under certain situations. They help managers in decision making and their implementations. Principles of management are not as rigid as principles of science. This chapter also explains us various topics that are Nature of principles of management, Significance of principles of management, Fayol’s principles of management, Taylor’s scientific management and Principles and techniques of scientific management.
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Chapter 3 Business Environment
Business environment means the totality of all internal and external factors, individuals and institutions that affects the performance of the organization and influences the environment and situation of the organization. We also get to know about the others topics in this chapter and that are Importance of business environment, Elements of business environment, Liberalization, Privatization, Globalization, demonetization, Economic Environment in India and Impact of Government Policy Change on Business and Industry.
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Chapter 4 Planning
Planning is deciding in advance the objectives to be achieved during a given period, formulating alternative courses of action to achieve them and selecting the best course of action. It is connected with what is to be done and how it is to be done. We also get to know about the other topics in this chapter and that are concept of planning, Importance of planning, Features of planning, Limitations of planning, Planning process, Types of plans, Objectives, Strategy, Policy, Procedure, Method, Rule, Programme and Budget.
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Chapter 5 Organising
Identifying and grouping different activities in the organisation and bringing together the physical, financial and human resources to establish the most productive relations for the achievement of specific goals is known as organising. We also get to know about the other topics in this chapter that are the concept of organising, Steps in the process of organising, Importance of organising, Organisation structure, Types of organisation structures, Formal and Informal organisation, Delegation, Importance of delegation, Decentralisation, Importance of decentralisation.
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Chapter 6 Staffing
Staffing is the process of hiring and developing the required personnel to fill in various positions in the organisation. It implies placing the right person at the right job. This function of management is concerned with determining the manpower requirement, selection, placement, training and compensation of employees of an enterprise. The other content of this chapter are Meaning of Staffing, Importance of Staffing, Evolution of Human Resource Management, Staffing Process, Aspects of Staffing- Recruitment, Selection and Training, Training Methods- On the job Methods and Off the job Methods.
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Chapter 7 Directing
Directing means giving instructions and guiding people in doing some work. In other words directing refers to the process of instructing, guiding, leading, counseling and motivating people in an organisation to achieve predetermined objectives. Other content of this chapter are Meaning of Directing, Characteristics of Directing, Importance of directing, Principles of Directing, Elements of Direction, Supervision, Motivation, Leadership, Communication, Formal and Informal Communication, Barriers to communication.
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Chapter 8 Controlling
Controlling refers to the process of measurement of performance according to standards, measuring deviations and taking corrective action to achieve predetermined goals. In order to seek results, manager must exercise effective control over the workers. Other content of this chapter are meaning of controlling, Importance of controlling, Limitations of controlling, Relationship between planning and controlling, Process of controlling, Techniques of Managerial control- Traditional and Modern Techniques, Responsibility of accounting, Management audit, PERT and CPM.
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Chapter 9 Financial Management
Finance, which is so important for business requires proper management in respect to its timely availability, proper management in respect to its timely availability, proper use, with no idle or surplus funds. This all comes under the purview of financial management. Financial management is concerned with optimal procurement as well as usage of finance. It aims at reducing the cost of funds procured, keeping the risk under control and achieving effective deployment of such funds. Other content of this chapter are Meaning of Business Finance, Financial Management, Objectives of Financial Management, Financial Decisions, Investment Decision, Financing Decision, Dividend Decision, Financial Planning, Capital Structure, Fixed and Working Capital and Factors affecting Fixed and Working Capital.
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Chapter 10 Financial Markets
A financial market is a market for creation and exchange of financial assets. In an economy, there are two major sectors, viz, households and producers. Households usually save a part of their income to earn returns on it through investment. On the other hand, producers and business firms are in need of finance at all times for conducting business activities. Financial markets and banks help the savers and the investors by mobilizing funds between them. Thus, financial markets and banks act as intermediaries in this allocative function of matching the demand and supply of funds. Other topics covered in this chapter are Meaning of Financial Market, Function of Financial Market, Money Market, Money Market Instruments, Capital Market, Primary Market, Methods of Floatation, Secondary Market, Stock Exchange, Functions of Stock Exchange, Trading and Settlement Procedure, Dematerialisation and Depositories, National Stock Exchange of India, Bombay Stock Exchange and Securities and Exchange Board of India (SEBI).
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Chapter 11 Marketing
Traditionally, marketing refers to the performance of business activities that direct the flow of goods and services from producers to consumers. Thus, merchandising, selling and distribution are all parts of a large number of activities undertaken by a firm, collectively called marketing. In the modern sense, marketing refers to a social process, whereby people exchange goods and services for money or for something of value to them. The other topics in this chapter are Meaning or Marketing, Marketing Management, Marketing Management Philosophies, Functions of Marketing, Marketing Mix, Products, Classification of Products, Durability of Products, Industrial Products, Branding, Packaging, Level of Packaging, Functions of Packaging, Labelling, Pricing, Physical Distribution, Components of Physical Distribution, Promotion, Promotion Mix, Advertising, Merits of Advertising, Objections to Advertising, Personal Selling, Sales Promotion, Publicity and Public Relations.
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Chapter 12 Consumer Protection
Consumer protection is a very wide term. It includes providing information to the consumers about their rights and responsibilities and helps in getting their grievances redressed. Consumer is treated as the ‘king’ of the market and producers produce goods as per their need and want. The other topics covered in this chapter are Importance of Consumer Protection, Legal Protection to Consumers, The consumer Protection Act, 1986, Consumer Rights, Consumer Responsibility, Ways and Means of Consumer Protection, Redressal Agencies under the Consumer Protection Act and Role of Consumer Organisations and NGOs.
Popular Questions of Class 12 Business Studies
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‘Bhasin’ limited was engaged in the business of food processing and selling its products under a popular brand. Lately the business was expanding due to good quality and reasonable prices. Also with more people working the market for processed food was increasing. New players were also coming to cash in on the new trend. In order to keep its market share in the short run the company directed its existing workforce to work overtime. But this resulted in many problems. Due to increased pressure of work the efficiency of the workers declined. Sometimes the subordinates had to work for more than one superior resulting in declining efficiency. The divisions that were previously working on one product were also made to work on two or more products. This resulted in a lot of overlapping and wastage. The workers were becoming indisciplined. The spirit of teamwork, which had characterized the company, previously was beginning to wane. Workers were feeling cheated and initiative was declining. The quality of the products was beginning to decline and market share was on the verge of decrease. Actually the company had implemented changes without creating the required infrastructure.
a. Identify the Principles of Management (out of 14 given by Henry Fayol) that were being violated by the company.
b. Explain these principles in brief.
c. What steps should the company management take in relation to the above principles to restore the company to its past glory? - Q:-
Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6 trailer coaches and is expected to save about 21,000 liters of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.
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A production manager at top level in a reputed corporate, Mr. Rathore holds the responsibility for ordering raw material for the firm. While deciding on the supplier for the financial year 2017-18, he gave the order to his cousin at a higher price per unit instead of the firm’s usual supplier who was willing to lower the rates for the order. Which principle of management was violated by Mr. Rathore? What are the positive impacts of following the above identified principle?
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An auto company C Ltd. is facing a problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower priced models for mass consumers who are price sensitive. C Ltd. realized that it needs to take steps immediately to improve its market standing in the future. For quality conscious consumers, C Limited plans to introduce new models with added features and new technological advancements. The company has formed a team with representatives from all the levels of management. This team will brainstorm and will determine the steps that will be adopted by the organisation for implementing the above strategy. Explain the features of Planning highlighted in the situation given below. (Hint: Planning is pervasive, Planning is futuristic and Planning is a mental exercise).
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Coordination is the essence of management. Do you agree? Give reasons.
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Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
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Management is a series of continuous interrelated functions. Comment.
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National Digital Library of India (NDL India) is a pilot project initiated by the HRD ministry. It works towards developing a framework of virtual repository of learning resources with a single-window search facility. It provides support to all academic levels including researchers, life-long learners and differently-abled learners free of cost. State the dimensions of business environment highlighted above.
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A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?
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A major insurance company handled all recruiting, screening and training processes for data entry/customer service representatives. Their competitor was attracting most of the qualified, potential employees in their market. Recruiting was made even more difficult by the strong economy and the ‘jobseeker’s market.’ This resulted in the client having to choose from candidates who had the ‘soft’ skills needed for the job, but lacked the proper ‘hard’ skills and training.
Questions
a. As an HR manager what problems do you see in the company?
b. How do you think it can be resolved and what would be its impact on the company?
Recently Viewed Questions of Class 12 Business Studies
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List any two indicators of growth of an organisation.
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Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6 trailer coaches and is expected to save about 21,000 liters of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.
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What are the factors affecting determination of the price of a product or service? Explain.
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What is marketing concept? How does it help in the effective marketing of goods and services.
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Ms. Jayshree recently completed her Post Graduate Diploma in Human Resource Management. A few months from now a large steel manufacturing company appointed her as its human resource manager. As of now, the company employs 800 persons and has an expansion plan in hand which may require another 200 persons for various types of additional requirements. Ms. Jayshree has been given complete charge of the company’s Human Resource Department.
Questions
a. Point out, what functions is she supposed to perform?
b. What problems do you foresee in her job?
c. What steps is she going to take to perform her job efficiently?
d. How significant is her role in the organisation? - Q:-
Distinguish between the product concept and production concept of marketing.
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Mrs. Mathur sent a jacket to a laundry shop in January 2018. The jacket was purchased at a price of ₹4,500. She had previously sent the jacket for dry cleaning with Shine Dry Cleaners and the jacket was cleaned well. However, she noticed that her jacket had white discoloration marks when she collected the jacket this time. On informing the dry cleaner, Mrs. Mathur received a letter confirming that discolouration indeed appeared after the jacket was dry cleaned. She contacted the dry cleaner multiple times and requested for compensation for discoloured jacket but to no avail.
Upon Consumer court’s intervention, Shine Dry Cleaners agreed to compensate ₹2,500 to Mrs. Mathur for the discoloured jacket.
a. Which right was exercised by Mrs. Mathur at the first instance.
b. Name and explain the right which helped Mrs. Mathur to avail the compensation.
c. State which consumer responsibility has been fulfilled by Mrs. Mathur in the above case.
d. State any other two responsibilities to be assumed by the consumers. - Q:-
What is meant by capital structure?v
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Explain the objectives and functions of the SEBI.
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India’s largest domestic investor Life Insurance Corporation of India has once again come to government’s rescue by subscribing 70% of Hindustan Aeronautics’ ₹4,200-crore initial public offering.
a. Which market is being reflected in the above case?
b. State which method of floatation in the above identified market is being highlighted in the case? (Primary Market)
c. Explain any two other methods of floatation. (Private Placement, Offer through prospectus, offer for sale).