In an organisation all the employees take things easy and are free to approach anyone for minor queries and problems. This has resulted in everyone taking to each other and thus resulting in inefficiency in the office. It has also resulted in loss of secrecy and confidential information being leaked out. What system do you think the manager should adopt to improve communication?
In the above case an informal system of communication is being used in the organisation. And to overcome the problems that occur due to informal communication systems of communication the manager should adopt a formal system of communication.
Formal communication refers to the communication taking place through official channels in an organisation. Such type of communication takes place between managers and workers, or managers working at the same cadre, or employees working at the same cadre. Though such communication may be oral or written, but it is recorded and filed in the office.
There are two types of formal communication that are:
1. Vertical communication: Communication taking place between two levels in the organisation is called vertical communication.
2. Horizontal or Lateral communication: Communication that takes place between individuals working at the same level, is called horizontal communication. E.g. a production manager may contact the marketing manager to discuss the production schedule.
Popular Questions of Class 12 Business Studies
- Q:-
What are the steps taken by management in the planning process?
- Q:-
Why is management considered to be a multi-dimensional concept?
- Q:-
Explain the procedure for selection of employees.
- Q:-
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
- 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.
- Q:-
The government of India announced Demonetization of ₹ 500 and ₹ 1,000 currency notes with effect from the midnight of November 8, 2016. As a result, the existing ₹ 500 and ₹ 1,000 currency notes ceased to be legal tender from that date. New currency notes of the denomination of ₹ 500 and ₹ 2,000 were issued by Reserve Bank of India after the announcement.
This step resulted in a substantial increase in the awareness about and use of Point of Sale machines, e-wallets, digital cash and other modes of cashless transactions. Also, increased transparency in monetary transactions and disclosure led to a rise in government revenue in the form of tax collection.
a. Enumerate the dimensions of the business environment highlighted above.
b. State the features of Demonetization. - Q:-
Define scientific management. State any three of its principles.
- Q:-
Explain the qualities of a good leader? Do the qualities alone ensure leadership success?
- Q:-
Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
- Q:-
Management is a series of continuous interrelated functions. Comment.
Recently Viewed Questions of Class 12 Business Studies
- Q:-
Sunrises Ltd. dealing in readymade garments, is planning to expand its business operations in order to cater to international market. For this purpose the company needs additional ₹ 80,00,000 for replacing machines with modern machinery of higher production capacity. The company wishes to raise the required funds by issuing debentures. The debt can be issued at an estimated cost of 10%. The EBIT for the previous year of the company was ₹ 8,00,000 and total capital investment was ₹ 1,00,00,000. Suggest whether issue of debenture would be considered a rational decision by the company. Give reason to justify your answer. (Ans. No, Cost of Debt (10%) is more than ROI which is 8%).
- Q:-
Why it is important for business enterprises to understand their environment? Explain.
- Q:-
What are the steps in the process of organising?
- Q:-
‘S’ Limited is manufacturing steel at its plant in India. It is enjoying a buoyant demand for its products as economic growth is about 7–8 per cent and the demand for steel is growing. It is planning to set up a new steel plant to cash on the increased demand. It is estimated that it will require about `5000 crores to set up and about `500 crores of working capital to start the new plant.
a. Describe the role and objectives of financial management for this company.
b. Explain the importance of having a financial plan for this company. Give an imaginary plan to support your answer.
c. What are the factors which will affect the capital structure of this company?
d. Keeping in mind that it is a highly capital-intensive sector, what factors will affect the fixed and working capital. Give reasons in support of your answer. - Q:-
What are the steps taken by management in the planning process?
- Q:-
What is meant by business environment?
- Q:-
What is financial risk? Why does it arise?
- Q:-
Coordination is the essence of management. Do you agree? Give reasons.
- Q:-
Draw a diagram depicting a functional structure.
- Q:-
Name the concept of financial management which increases the return to equity shareholders due to the presence of fixed financial charges.
- NCERT Chapter