Assessment Sheet 1 BSt Class 12 Chapter 1 – Nature and Significance of Management Answer key
Assessment Sheet 1 BSt Class 12
Chapter 1 – Nature and Significance of Management
VERY SHORT ANSWER TYPE QUESTIONS (1 MARK)
1. “Planning, Organizing, Staffing, Directing and controlling” is the sequence of functions in a process. Name it.
Ans. Management
2. Name that intangible force which creates productive relationships among resources of an organization.
Ans. Management
3. Why is management called inexact science?
Ans. Management relates to human behavior, whose cause and effect is not
certain, that’s why it is called and inexact science.
4. Production manager tries to produce goods with minimum costs.
Name the concept which is being focused by management?
Ans. Efficiency
5. What do you mean by effectiveness?
Ans. It means completing the task or achieving the goals within stipulated time period.
6. In order to be successful, an organization must change its according to the
needs of the environment. Which characteristic of management is highlighted in the statement?
Ans. Management is a dynamic function.
7. Give one designation each of top and middle level management?
Ans. Top – CEO, Middle – Divisional Manager
8. Your Grand Father has retired as the director of a manufacturing company.
At what level of management was he working.
Ans. Top management.
SHORT ANSWER TYPE QUESTIONS (3 OR 4 MARKS)
1. Explain the meaning of management.
Ans. Management is a process of getting things done with the aim of achieving desired
common goals effectively and efficiently persons engaged in performing the functions of the management are known as managers.
2. ‘Management is a process’ Explain?
Ans. Management includes various steps such as planning, organizing, staffing, directing and controlling. This process begins with those at the top of the organization and continues in varying degrees at almost every level of the organization. These i n t e r -related steps help to achieve organizational goals in effective manner. That is why management is known as process of employing and organizing resources to accomplish predetermined objectives.
3. ‘Management is multi-dimensional’. Explain?
Ans. Management is a complex activity and involves following three main
dimensions –
i) Management of works
In each and every organization, certain type of work is to be performed. In school, overall development of a child is to be done; in hospitals, patients are treated etc. Management converts these works into goals and devises the means to achieve them.
ii) Management of People.
Management is concerned with “getting things done through people”, which is a very difficult task. All the employees have different personalities, needs backgrounds and methods of work. Thus, it becomes management’s job to make them work as a group by giving common direction to their efforts.
iii) Management of operations.
In order to survive, each organization has to provide certain goods or services. This involves production process thus, management of operations is inter linked with both the above dimensions viz., management of work and the management of people.
4. What are the personal objectives of the management?
Ans. Personal objectives refer to the objectives which are related to the
employees of an organization. They are as follows:
i) Financial needs like competitive salaries, incentives and other monetary
benefits.
ii) Social needs like recognition in the organization.
iii) Higher level need which includes personal growth and development.
5. Enumerate the importance of management.
Ans. Following points are the importance of management.
i) Management helps in achieving group goals.
ii) Management increase efficiency
iii) Management creates a dynamic organization.
iv) Management helps in achieving personal objectives.
v) Management helps in development of society.
6. Define co-ordination. Enumerate the features of co-ordination?
Ans. Coordination is an orderly arrangement of group efforts to
maintain harmony among individuals’ efforts towards the accomplishment of
common goals of an organization.
Features of co-ordination
i) It integrates group efforts.
ii) It unifies the action.
iii) It is a continuous process.
iv) It is an all-pervasive function
v) It is the responsibility of all managers.
vi) It is a deliberate function.
LONG ANSWER TYPE QUESTIONS (5 OR 6 MARKS)
1. Explain the organizational objectives of management.
Ans. The organizational objectives of management refer to the main objectives
required to fulfill the economic goals of the business organization. The main
objective of management is to utilize the human and material resources in such a
manner that it should give maximum advantage to the organization. Every
management group strives to accomplish these objectives for its organization.
These objectives of every organization are survival, profit and growth.
(a) Survival: The basic objective of every business is to survive for a longer
period in the market. The management must ensure survival of the
organization by earning enough revenue to cover its costs.
(b) Profit: Only survival is not sufficient for business. Profit earning is essential for
meeting the expenses and for the successful operation of the bus’ Thus
management must ensure earning of sufficient profit.
(c) Growth: The next important objective of the management is to ensure
future growth and development of the business.
2. Explain the ‘social objectives’ of management.
Ans. Each organization is a part of society and thus it has certain social obligations
to fulfill.
Some of them are as follows:
(i) To supply quality goods and services
(ii) Providing basic amenities to the employees like schools and creches for
their children, medical facilities etc.
(iii) To generate employment opportunities especially for the backward
classes.
(iv) To provide environment friendly methods of production.
(v) To provide financial support to society by donating for noble causes.
(vi) To organize educational, health and vocational training programmes.
(vii) To participate in social service projects of Government and Non –
Governmental Organizations (NGOs).
3. Do you mean by’ Personal Objectives’ of management? Enumerate
personal objectives of management.
Ans. Personal Objectives refer to the objectives which are related to the individual
needs of the employees of an organization. All organizations are made up of
people with different values, experiences and objectives. People join an
organization to satisfy their different needs. These are as follows:
i) Financial needs like competitive salaries, incentives and other monetary
benefits.
ii) Social needs like recognition in the organization.
iii) Higher level need which includes personal growth and development.
4. Explain five functions of top-management.
Ans. Top management performs the following functions.
i) Develops long-term objectives: Top-level managers develop the long – term objectives like expansion of business, manpower planning etc.
ii) Framing of policies: They lay down guidelines for departmental head i.e., policies relating to production, marketing, personnel, finance public relation etc.
iii) Organizing : Top management organizes the business into various sections and departments to achieve the desired organizational objectives.
iv) Key appointments: Top-level authorities appoint the departmental heads and some other key persons to develop the organizational structure for profitable growth of the enterprises.
v) Controlling: Top-level managers periodically review the work of executives at different levels to ensure that their performance is as per predetermined plans.
QUESTIONS WITH DIFFERENT DIFFICULTY LEVELS
1. Sridhar’s father is working as a section in-charge in a government office. Identify the level of management at which he is working? State any five functions that he has to perform at this level.
Answer:
1. Sridhar’s father is working as a section in-charge in a government office. He is working at the lower level of management.
He has to perform the following functions at this level of management:
- He has to directly oversee the efforts of the workforce.
- He has to serve as a link between the workers and middle level managers.
- He has to ensure sufficient availability of resources and good quality of output.
- He has to provide guidance and training to workers.
- He has to ensure that good working conditions are provided to the workers
2. Jayant is working as Head Relationship Manager in the wealth management division of a private sector bank. He has created an internal environment which is conducive to an effective and efficient performance of his team of ten relationship management executive” A typical day at work in Jay ant’s life consists of a series of interrelated and continue functions. He decides the targets for his department which are in line with the objectives of the organization as a whole. The future course of action for his team members is laid out well in advance. The various resources required by the relationship managers like an iPad with GPS system, account opening forms, brochures, details of account holders etc. are made readily available to them. The executives are given sufficient authority to carry out the work assigned to them. Jayant works in close coordination with the Human Resource Manager in order to ensure that he is able to create and maintain a satisfactory and satisfied workforce in his department.Through constant guidance and motivation, Jayant inspires them to realise their full potential. He offers them various types of incentives from time to time keeping in view their diverse individual needs.Moreover, he keeps a close watch on their individual performances in order to ensure that they are in accordance with the standards set and takes corrective actions whenever needed.
In context of the above case:
- Identify the concept being referred to in the following line, “He has created an internal environment which is conducive to an effective and efficient performance of his team of ten relationship management executives.”
- Identify and describe the various functions of the concept as identified in part (a) of the question by quoting lines from the paragraph.
Answer:
- The concept of management is being referred to in the following line, “He has created an internal environment which is conducive to an effective and efficient performance of his team of ten relationship management executives.”
- The various functions of the management concept mentioned in the above paragraph are listed below:
- Planning: It is the function of determining in advance what is to be done and who is to do it.
“He decides the targets for his department which are in line with the objectives of the organization as a whole. The future course of actions for the team members are laid out well in advance.” - Organising: Organising is the process of bringing together human, physical and financial resources and establishing productive relations among them for the purpose of achieving the desired goals efficiently and effectively.
“The various resources required by the relationship managers like an iPad with GPS system, account opening forms, brochures, details of account holders etc. are made readily available to them. The executives are given sufficient authority to carry out the work assigned to them.” - Staffing: The managerial function of staffing involves manning the organisational structure in order to fill in the roles designed into the structure.
“Jayant works in close coordination with the human resource manager in order to ensure that he is able to create and maintain a satisfactory and satisfied workforce in his department.” - Directing: Directing involves leading, influencing and motivating employees to
perform the tasks assigned to them.
“Through constant guidance and motivation, Jayant inspires them to realise their full potential. He offers them various types of incentives from time to time keeping in view their diverse individual needs.”
- Planning: It is the function of determining in advance what is to be done and who is to do it.
- Controlling: Controlling is the management function of ensuring that events conform to plans.”Moreover, he keeps a close watch on their individual performances in order to ensure that they are in accordance with the standards set and takes corrective actions whenever needed.”
3.Which force binds all other functions of management? (1)
Ans. Coordination
4. Mr. Kunal is working as the Finance Manager of XYZ Ltd. At what level of management is he working? State any two functions being performed by him? (3 or 4)
Ans. He is working as a middle level manager.
His functions are as follows.
i) Deciding various sources from which required funds can be raised.
ii) Negotiating with banks, brokers, under-writers etc. for raising finance.
5. Identify the nature of management when it is practiced as personal
application of existing knowledge to achieve desired results. (cbse 2012)
Ans. Management as an art.
