Eduvictors Solutions
CH1 - Nature and Significance of Management (V. Short Q-A)
Q1: Define the term 'Management'.Answer: Management is the function of getting things done through people and directing the efforts of individuals towards a common objective.
In many countries, business studies is a subject that is taught in schools and at universities. Accountancy, finance, marketing, organisational studies, human resource management, and operations are all part of the research.
Q1: Define the term 'Management'.Answer: Management is the function of getting things done through people and directing the efforts of individuals towards a common objective.
Q1: What is meant by Management principles? Answer:: Management principles are broad and general guidelines for decision making and behaviour. These are those basic truths which have the ability to predict the result of the managerial activities.
Q1: Define Business Environment? Answer: : The totality of all individuals, institutions and other forces that are outside a business enterprise but that may affect its functioning and performance.
Q1: Define Planning. Answer: Planning in deciding in advance what to do and how to do. Before doing something, the manager always formulates an idea of how to work on a particular task.
Q1: Define Organising. Answer: Organizing is the process of defining and grouping, activities and establishing authority relationships among them.
Q1: Which function of management helps in obtaining right people and putting them on the right jobs? Answer: Staffing
Q1: Define directing. Answer: : Directing refers to the process of instructing, guiding, counselling, motivating and leading people in the organisation to achieve its objectives.
Q1: Define Controlling. Answer: It is a process of comparing actual performance with standards and finding deviations if any and taking corrective action.
Q1: What do you mean by business finance? Answer: The money required for carrying out business activities is called business finance.
Q1: What is a financial market? Answer: A financial market is a market for the creation and exchange of financial assets.
Q1: Define Marketing in modern terms. Answer: Marketing is the performance of business activities that directs the flow of goods and services from producer to consumer or user.
Q: Who is a consumer? Answer: : According to Consumer protection Act, a consumer is: One who buys goods or hires services...