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CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management Complete Details

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management Complete Details

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management : The Central Board of Secondary Education (CBSE) is a Board of Education for public and private schools, under the Union Government of India. CBSE affiliates all Kendriya Vidyalayas, all Jawahar Navodaya Vidyalayas, private schools and most of the schools approved by central government of India. CBSE conducts the final examinations for Class 10 and Class 12 every year.

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management Complete Details

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management : Here our team members Provides CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management Complete Details. CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management Complete Details Included 8 units. These  CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management Complete Details Eight  units included some topics those are under given following :

Part A: Principles and Functions of Management

Unit I: Nature and Significance of Management

  • Management – concept, objectives and importance
  • Management as Science, Art and Profession
  • Levels of management
  • Management functions – planning, organising, staffing, directing and controlling
  • Coordination – concept, characteristics and importance

Unit 2: Principles of Management

  • Principles of Management – concept, nature and significance
  • Fayol’s principles of management
  • Taylor’s Scientific Management – principles and techniques

Unit 3: Management and Business Environment

  • Business Environment – concept and importance
  • Dimensions of Business Environment – Economic, Social, Technological, Political and Legal
  • Impact of Government policy changes on business with special reference to liberalization, privatization and globalisation in India.

Unit 4: Planning

  • Concept, importance and limitations
  • Planning process
  • Single use and Standing Plans – Objectives, Strategy, Policy, Procedure, Method, Rule, Budget and Programme.

Unit 5: Organising

  • Concept and importance.
  • Organizing Process.
  • Structure of organization – functional and divisional.
  • Formal and informal organization.
  • Delegation: concept, elements and importance.
  • Decentralization: concept and importance.

Unit 6: Staffing

  • Concept and importance of staffing
  • Staffing as a part of Human Resource Management
  • Staffing process: Recruitment – sources; Selection – process
  • Training and Development – Concept and importance. Methods of training- on the job and off the job- Induction training, vestibule training, apprenticeship training and internship training.

Unit 7: Directing

  • Concept and importance
  • Elements of Directing: – Supervision – concept, functions of a supervisor.; – Motivation – Concept, Maslow’s hierarchy of needs; Financial and non-financial incentives.; – Leadership – concept, styles – authoritative, democratic and laissen faire.; – Communication – concept, formal and informal communication; barriers to effective; communication, how to overcome the barriers.

Unit 8: Controlling

  • Concept, nature and importance
  • Relationship between planning and controlling
  • Steps in the process of control

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management Complete Details

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management : Business Studies is an academic subject taught in Lesotho, Australia, Bangladesh, Canada, Hong Kong, India, Nigeria, Nepal, Ireland, New Zealand, Pakistan, South Africa, Sri Lanka, Zimbabwe, Argentina, Sweden, Tanzania, Malaysia, Zambia and the United Kingdom, as well as at university level in many countries. Its study combines elements of accountancy, finance, marketing, organizational studies and economics.Business Studies is a broad subject in the Social Sciences, allowing the in-depth study of a range of specialties such as accountancy, finance, organisation,human resources management and marketing.

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CBSE Class 12 Commerce Business Studies Nature And Significance Of Management Complete Notes

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management :  Management is an art of getting things done with and through others. Management can be defined as, the process of getting things done with the aim of achieving organizational goals effectively and efficiently.

Efficiency and effectiveness

Efficiency means doing the task correctly at minimum cost through optimum utilization of resources while effectiveness is concerned with end result means completing the task correctly within stipulated time. Although efficiency and effectiveness are different yet they are inter related. It is important for management to maintain a balance between the two.

Example : A business produces targeted 1000 units but at a higher cost is effective but not efficient. Therefore if the business has to be effective and efficient then it has to produce targeted 1000 units within cost.

Characteristics of Management

1. Goal oriented Process : It is a goal oriented process, which is undertaken to achieve already specified and desired objectives by proper utilization of available resources.

2. Pervasive : Management is universal in nature. It is used in all types of organisations whether economic, social or political irrespective of its size, nature and location and at every level.

3. Multidimensional : It is multidimensional as it involves management of work, people and operations.

4. Continuous : It consists of a series of function and its functions are being performed by all managers simultaneously. The process of management continues till an organization exists for attaining its objectives.

5. Group Activity : It is a group activity since it involves managing and coordinating activities of different people as a team to attain the desired objectives.

6. Dynamic function :It is a dynamic function since it has to adapt according to need, time and situation of the changing environment. For example, Mc Donalds made major changes in its ‘Menu’ to survive in the Indian market.

7. Intangible Force : It is intangible force as it can’t be seen but its effects can be felt in the form of results like whether the objectives are met and whether people are motivated or not and there is orderliness and coordination in the work environment.

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CBSE Class 12 Commerce Business Studies Principles Of Management Complete Notes

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management :   In earlier chapters you have studied how the insurance sector is developing in Indian economy and in the present scenario insurance sector is one of the promising sectors to provide employment opportunity. Once you have opted your career in insurance sector and select any form of organization to do the insurance business, as discussed in the previous chapter and to run any organization one should have the knowledge of principles of management.

Download here CBSE Class 12 Commerce Business Studies Principles Of Management in PDF Format 

In the following paragraphs the principles of management is being explained. Before discussing the principles of management it is to explain that all industrial or business activities can be classified as follows:

1. Technical activities consisting of production or manufacture

2. Commercial activities consisting of buying, selling and exchange

3. Financial activities concerning search for optimum use of capital

4. Security activities concerning protection of property and persons

5. Accounting activities concerning with maintenance of accounts including statistics

6. Managerial activities consisting of planning, organizing, commanding, co-ordaining and controlling

CBSE Class 12 Commerce Business Studies Management And Business Environment Complete Details

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management :  Understanding the environment within which the business has to operate is very important for running a business unit successfully at any place. Because, the environmental factors influence almost every aspect of business, be it its nature, its location, the prices of products, the distribution system, or the personnel policies. Hence it is important to learn about the various components of the business environment, which consists of the economic aspect, the socio-cultural aspects, the political framework, the legal aspects and the technological aspects etc. In this chapter, we shall learn about the concept of business environment, its nature and significance and the various components of the environment. In addition, we shall also acquaint ourselves with the concept of social responsibility of business and business ethics.

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OBJECTIVES

After studying this lesson, you will be able to:

• explain the meaning of business environment;

• identify the features of business environment;

• describe the importance and types of business environment;

• describe the recent developments in Indian Economy that have greatly influenced the working of business units in India;

• explain the concept of social responsibility of business;

• state the social responsibility of business towards different interest groups; and

• explain the concept of business ethics.

CBSE Class 12 Commerce Business Studies Unit 4 Planning  Complete Notes

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management :  Planning (also called forethought) is the process of thinking about and organizing the activities required to achieve a desired goal. It involves the creation and maintenance of a plan, such as psychological aspects that require conceptual skills. There are even a couple of tests to measure someone’s capability of planning well. As such, planning is a fundamental property of intelligent behavior.

Also, planning has a specific process and is necessary for multiple occupations (particularly in fields such as management, business, etc.). In each field there are different types of plans that help companies achieve efficiency and effectiveness. An important, albeit often ignored aspect of planning, is the relationship it holds to forecasting. Forecasting can be described as predicting what the future will look like, whereas planning predicts what the future should look like for multiple scenarios. Planning combines forecasting with preparation of scenarios and how to react to them. Planning is one of the most important project management and time management techniques. Planning is preparing a sequence of action steps to achieve some specific goal. If a person does it effectively, they can reduce much the necessary time and effort of achieving the goal. A plan is like a map. When following a plan, a person can see how much they have progressed towards their project goal and how far they are from their destination.

Download here CBSE Class 12 Commerce Business Studies Unit 4 Planning  Complete Notes In PDF Format

CBSE Class 12 Commerce Business Studies Unit 5 Organizing  Complete Notes

CBSE Class 12 Commerce Business Studies Unit 5 Organizing Arranging several elements into a purposeful sequential or spatial (or both) order or structure and  Assembling required resources to attain organizational objectives.

In general way we can define term organization as a group of individuals who are interacting with each other and contributing their efforts towards the attainment of certain goals or objectives. In other words organization may be defined as a co-operative & healthy relationship among-st the groups which is built up by them through proper network of communication system with a view to achieve their specific or common goals.
“Organizing” may be defined as such process which is made by any business firm for the purpose of achieving its own goals or objectives in smooth way. It is the process of ensuring healthy relationship among the departments by the proper channel of communication so that the personnel (employees) of every department can give their hundred percent contributions in the accomplishment of desired goals.

Concept or Nature of Organizing or Organization:

There are two essential Concepts regarding with Organizing:

  • Organization as a Process: The concept of organizing can be considered as a process, because a large number of events or activities are done under the process of organizing with-a-view to accomplish the preset goals in an appropriate way. In fact, organizing involves division of works, determination of activities, grouping of activities, delegation of authority and the establishment of proper co-ordination and balance among various departments of individuals towards the attainment of predetermined goals. On the whole it is clear that the objectives of business firm cannot be obtained by doing single activity, so organizing is set to be a process.
  • Organization as a Structure of Relationship: Organization refers to a structure of relationship due to involvement of a large number of groups. In fact, under the process of organizing the relationship of departments to departments, groups to groups and individuals to individuals are analyzed carefully through the process of communication system with a view to establish proper unity and co-ordination among them. So that everyone can take initiative for the welfare of enterprise. Thus it is clear that Organization can be considered as a structure of relationship.

Download here CBSE Class 12 Commerce Business Studies Unit 5 Organizing  Complete Notes In PDF Forma

CBSE Class 12 Commerce Business Studies Unit 6 Staffing  Complete Notes

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management :  Staffing entails management—man power planning for recruiting and training executives. It also calls for the satisfaction of managerial wants through the provision of individual motivation and the introduction of self-control on the part of such executives. Thus, the Staffing Function includes the process by which the right person is placed in a right organisational position.

True staffing means “manning and keeping manned a right man at right place.” The administration of human ‘resources involves matching the jobs and people through preparation of specifications necessary for positions, appraising the performance of personnel, training and retraining of people to fit the needs of the organisational positions, and developing methods by which people will respond with maximum effort and increased satisfaction.

Staff process, therefore, provides the organisation with adequate, competent and qualified personnel at all levels in the enterprise. Since successful performance by individuals largely determines success of the structure, staffing function of manager deserves sufficient care and attention of the management.

Download here CBSE Class 12 Commerce Business Studies Unit 6 Staffing  Complete Notes In PDF Format 

CBSE Class 12 Commerce Business Studies Unit 7 Directing  Complete Notes

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management :  Directing is said to be a process in which the managers instruct, guide and oversee the performance of the workers to achieve predetermined goals. Directing is said to be the heart of management process. Planning, organizing, staffing have got no importance if direction function does not take place. Directing initiates action and it is from here actual work starts. Direction is said to be consisting of human factors. In simple words, it can be described as providing guidance to workers is doing work. In field of management, direction is said to be all those activities which are designed to encourage the subordinates to work effectively and efficiently. According to Human, “Directing consists of process or technique by which instruction can be issued and operations can be carried out as originally planned” Therefore, Directing is the function of guiding, inspiring, overseeing and instructing people towards accomplishment of organizational goals.

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CBSE Class 12 Commerce Business Studies Unit 8 Controlling  Complete Notes

Controlling consists of verifying whether everything occurs in confirmities with the plans adopted, instructions issued and principles established. Controlling ensures that there is effective and efficient utilization of organizational resources so as to achieve the planned goals. Controlling measures the deviation of actual performance from the standard performance, discovers the causes of such deviations and helps in taking corrective actions

According to Brech, “Controlling is a systematic exercise which is called as a process of checking actual performance against the standards or plans with a view to ensure adequate progress and also recording such experience as is gained as a contribution to possible future needs.”

According to Donnell, “Just as a navigator continually takes reading to ensure whether he is relative to a planned action, so should a business manager continually take reading to assure himself that his enterprise is on right course.”

Controlling has got two basic purposes

  1. It facilitates co-ordination
  2. It helps in planning

Download here CBSE Class 12 Commerce Business Studies Unit 8 Controlling  Complete Notes In PDF Format

CBSE Class 12 Commerce Business Studies Part A Principles And Functions Of Management Complete Details

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