Class 12 Business Studies Nature and Significance of Management: NCERT Solutions for Question 4

This page focuses on the detailed Nature and Significance of Management question answers for Class 12 Business Studies Nature and Significance of Management, addressing the question: 'Management is a series of continuous interrelated functions. Comment.'. The solution provides a thorough breakdown of the question, highlighting key concepts and approaches to arrive at the correct answer. This easy-to-understand explanation will help students develop better problem-solving skills, reinforcing their understanding of the chapter and aiding in exam preparation.

Question 4

Management is a series of continuous interrelated functions. Comment.

Answer

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.

There are five functions of management that are planning, organising, directing, staffing and controlling. All the functions are interrelated with each other because no function can be complete without the other function. For example without planning organising can't be performed.

Functions of management is as follows:

1. Planning: Planning is the initial and very important function of the management. In this function what is to be done and who is to do it is decided. Planning is the step in which goals and the way of achieving them efficiently and effectively determine in advance.

2. Organising: This function is performed to determine what activities and resources are required to accomplish the organisational goals. And to decide who will do a particular task, where it will be done and when it will be done. Grouping of the task into manageable department and reporting relationships within the organisational hierarchy involved in organising. Proper organisational techniques lead to accomplishment of work and promote both efficiency and effectiveness in the organisation.

3. Staffing: Under this function organisation finds the right people for the right job. In this function right people are hired with required qualifications. This is also known as the human resource function and it involves activities such as recruitment, selection, placement and training.

4. Directing: It involves leading, guiding and motivating employees to perform the tasks assigned to them. By providing a required work environment and encouraging them to do their best. The two key components of directing are motivation and leadership. Leadership means getting work done by direction of the leaders. A manager directs by praising and criticising the employee in a way that they give their best.

5. Controlling: This function of management involves monitoring the performance to achieve the organisational goal. This function also involves the measuring of actual work as compared to standard work and taking corrective action where any deviation occurs. This helps in achieving the target on time, efficiently and effectively.

So, we can say that all the functions of the management are interdependent on each other.

Class 12 Business Studies Nature and Significance of Management: NCERT Solutions for Question 4

Management is a series of continuous interrelated functions. Comment.

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