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Chapters
1: Business Environment
UNIT-2 : FINANCING
2: Capital - Fixed and Working
3: Sources of Financial for a Join stock Company
4: Banking - Latest Trends
UNIT-3 : MANAGEMENT
▶ 5: Management - Meaning, Nature and Importance
6: Principles of Management
7: Functions of Management and Coordination
8: Planning
9: Organising
10: Staffing
11: Directing
12: Controlling
UNIT-4 : MARKETING
13: Marketing - Concept and functions
14: Marketing Mix
15: Consumer Protection
![C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी chapter 5 - Management - Meaning, Nature and Importance C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी chapter 5 - Management - Meaning, Nature and Importance - Shaalaa.com](/images/commerce-volume-2-english-class-12-isc_6:2887ba73d35f4510a36234795e6cdd48.jpg)
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Solutions for Chapter 5: Management - Meaning, Nature and Importance
Below listed, you can find solutions for Chapter 5 of CISCE C. B. Gupta for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी.
C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी 5 Management - Meaning, Nature and Importance EXERCISES [Pages 137 - 138]
Short Answer Type Questions
State any four characteristics of management.
Define the term management.
“Management is all-pervading.” Explain.
Define the term management.
Explain any three objectives of management.
State any four characteristics of management.
Why management has become more important in modern times?
Why is management considered as a science?
“Management is the development of people, not the direction of things.” Comment.
“Management is universal.” Comment.
Management and Administration.
“Management is not a full-fledged profession.” Why?
Who constitutes the top management of a company?
Explain management as a group.
Explain any three points that highlight the importance of 'management.
What is management as a group activity?
Define management as a process.
What is the integration concept of management?
“To manage a business is to balance a variety of needs.” Explain.
Why is management considered a discipline?
Write a short note on Management-Science and Art.
What is the integration concept of management?
Essay Type Questions
Explain any three points that highlight the importance of 'management.
Explain any three points that highlight the importance of 'management.
Explain any three points that highlight the importance of 'management.
State any four characteristics of management.
Why is management considered a discipline?
“Management is the art of getting things done through other people.” Explain.
Explain any three points that highlight the importance of 'management.
Explain any three points that highlight the importance of 'management.
“Management is both a science and an art.” Comment.
What do you mean by levels of management?
Explain the functions of various levels of management.
Explain the scope of management, indicating its various functional areas.
“Management is the art of getting things done through other people.” Explain.
State any four characteristics of management.
Explain any three points that highlight the importance of 'management.
Explain any three points that highlight the importance of 'management.
Explain why management is considered to be an art.
C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी 5 Management - Meaning, Nature and Importance QUESTION BANK [Pages 138 - 143]
Define the term management.
“Management is the art of getting things done through other people.” Explain.
Explain management as a process.
“Management is both a science and an art.” Comment.
“Management is all-pervading.” Explain.
State any four characteristics of management.
State any four characteristics of management.
“Management is the art of getting things done through other people.” Explain.
Explain any three objectives of management.
Explain any three objectives of management.
Explain any three points that highlight the importance of 'management.
Point out at what level of management the following person is working:
Nitin who supervises workers in a car manufacturing company.
Point out at what level of management the following person is working:
Prem is the Head of the Accounts Department in NTPC.
Point out at what level of management the following person is working:
Mrs. Chanda Kochar, the Chairman of ICICI Bank.
Point out at what level of management the following person is working:
Mr. Deepak Parikh, the Head of HDFC.
Point out at what level of management the following person is working:
Sarita, Accounts Officer in MTNL.
Point out at what level of management the following person is working:
Banta Singh, the Marketing Manager of ABC Ltd.
Point out at what level of management the following person is working:
Hamid, Branch Manager in Bata India Ltd.
C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी 5 Management - Meaning, Nature and Importance QUESTIONS [Pages 144 - 149]
MULTIPLE CHOICE QUESTIONS
Riama is one of the most successful managers of her company, Globe Ltd. She knows that the principles of management are intended to apply to all types of organisations, business as well as non-business, small as well as large, and public sector as well as private sector.
Identify the nature of management being highlighted in the above description.
Management is a distinct entity
Management is a social process
Management is all-pervading
Management is goal-oriented
‘Management is performed in terms of solving problems, making decisions, establishing plans, preparing budgets, assigning responsibilities and delegating authority. Efficient management is impossible without well-defined superior-subordinate relationship.’ Which dimension of management is highlighted here?
Management is a dynamic function
Management is a system of authority
Management is a distinct entity
Management is goal-oriented
On the basis of the given paragraph, answer the question.
| After a few years of experience as a manager responsible for the motivation and development of the supervisory workforce, Mr. Ram Bairam uploaded a video on YouTube, in which he gave some valuable suggestions to young entrepreneurs. One of the key elements in his video was that unless and until the betterment of employees is achieved, management is useless. A good management helps its employees by giving them recognition, increment in salary, due promotion, etc. |
At which level of management does Mr. Ram Bairam work?
Top level management
Middle level management
Operational level management
Shop floor level management
On the basis of the given paragraph, answer the question.
| After a few years of experience as a manager responsible for the motivation and development of the supervisory workforce, Mr. Ram Bairam uploaded a video on YouTube, in which he gave some valuable suggestions to young entrepreneurs. One of the key elements in his video was that unless and until the betterment of employees is achieved, management is useless. A good management helps its employees by giving them recognition, increment in salary, due promotion, etc. |
Identify the branch of management on which he focused his suggestion:
Production management
Marketing management
Financial management
Personnel management
Match the columns on the basis of characteristics of management by using the given options:
| Column I | Column II | ||
| 1. | The presence of management cannot be seen but it can be felt the way the organisation functions. | A. | Dynamic function |
| 2. | For success an organisation must change itself according to the need of an environment. | B. | Intangible force |
| C. | Group activity |
Choose the correct option:
1-C; 2-A
1-B; 2-C
1-B; 2-A
1-A; 2-B
| A.R. Rahman is the first Indian to win an Oscar award for his composition ‘Jai Ho’. His composition of music is unique, as he has used the singing notes in a manner that is entirely his own interpretation. Like him, Mrs. Ganguly, General Manager of Waves Advertising Enterprises, uses her own knowledge of management in a different manner such that the employees under her are happy and satisfied and complete their assigned tasks on time. |
Identify the nature of management highlighted in the above paragraph.
Management as Science
Management as an Art
Management as Profession
Management as both Science and Art
Mr. Top, the CEO of YZ LTD, appointed Production Manager Mr. Produce, who was assisted by Mr. Ustad, who was to take care of ensuring the quality standards of the production. Where will Mr. Ustad be placed in the management hierarchy?
Operational level
All levels
Top level
Middle level
“Special in life throughout” is an NGO working in the field of imparting education to all special needs kids in Pune. Their work is highly appreciated by the Government and they want to replicate the model all throughout the state. Which characteristic is followed by the organisation?
Management is all pervasive
Management is a goal-oriented process
Management is continuous
Management is a dynamic function
Ashutosh Goenka was working in ‘Axe Ltd.’, a company manufacturing washing machines. He found that the profits had started declining from the last six months. Profit has an implication on the survival of the firm, so he analysed the business environment to find out the reasons for this decline.
Identify the level of management at which Ashutosh Goenka is working.
Top level Management.
Middle Level Management.
Lower-Level Management.
Operational Level Management
Two dancers, two speakers, two actors or two writers will always differ in demonstrating their art. Identify the feature of art to which the above statement is related.
Practical knowledge
Personal skills
Creativity
Perfection through practice
To become a chartered accountant in India, a candidate has to clear a specified examination conducted by the Institute of Chartered Accountants of India.
Identify the feature of the profession to which the above statement is related.
Professional association
Ethical code of conduct
Service motive
Restricted entry
Management has its own theory and principles that have developed over a period of time, but it also draws on other disciplines such as Economics, Sociology, Psychology and Mathematics. Identify the feature of science to which the above statement is related.
Systematised body of knowledge
Principles based on experimentation
Universal validity
None of the above
Ashoka handloom Industries is a company that specially manufactures bed covers/bedsheets. Mr. Ashok Khadhidhari is the production manager in the company. His design team developed some prints for bedcovers in bright colours on silk. Although they looked very impressive, the use of silk made the product too expensive for the average customer. Praising their effort, Mr. Ashok suggested that they keep the silk bedcovers for special occasions like Diwali and Christmas and offer the bedcovers on a regular basis. Name the main function of management to which is the above case related.
Planning
Organising
Directing
Controlling
Jeet is the managing director in a shoe manufacturing company. He has been doing well at this post. Under his guidance and leadership, the company has been actively achieving all the set targets, as all the unrelated and diverse actions taken by different departments are given a common direction.
Identify the characteristics of management discussed in the given case.
Management is a goal-oriented process
Management is a continuous process
Management is a group activity
Management is a dynamic function
Match the features of management in Column I with their respective definitions in Column II.
| Column I | Column II | ||
| A. | Continuous process | (i) | Managerial functions are performed by all managers all the time. |
| B. | Pervasive | (ii) | Effect of management can only be felt on organisation functions. |
| C. | Intangible force | (iii) | Managerial activities are common to all organisations |
A-(i), B-(iii), C-(ii)
A-(iii), B-(ii), C-(i)
A-(ii), B-(iii), C-(i)
A-(ii), B-(i), C-(ii)
Aama has recently started a business to sell computers. She hired shop in Nehru Place in New Delhi, where he assembles computers and various components, supplies them as per order.
She performs a series of composite but separate functions simultaneously and ensures that computers are delivered in time as per orders. These functions are performed by all managers at all times. The feature of management highlighted here is:
Management is a continuous process
Management is pervasive
Management is a dynamic function
Management is a group activity
“Through motivation and leadership, the management helps individuals to develop team spirit, cooperation and commitment to group success.” Identify the point of importance of management highlighted above:
Management helps in development of nation
Management helps in minimising cost
Management helps in survival and growth of organisation
Management helps in achieving group goals
“Every member of an organisation has a different purpose for joining the organisation but as members of the organisation they work towards fulfilling the common organisational goal. This requires teamwork and coordination of individual effort in a common direction.” Identify the characteristic of management highlighted above.
Management is a goal-oriented process
Management is a group activity
Management is multi-disciplinary
Management is a dynamic function
There is a general conception that the more experienced a manager is, the higher will be his efficiency. This statement highlights that management is ______.
An art
A science
A profession
Both science and art
Which of the following proves that management is not an exact science?
Management has its own theory and principles that have developed over a period of time, but it also draws on other disciplines such as economics, sociology, psychology and mathematics. Like any other organized activity, management has its own vocabulary of terms and concepts.
Since management deals with human beings and human behaviour, the outcomes of these experiments are not capable of being accurately predicted or replicated.
The application and use of principles of management is not universal. They have to be modified according to a given situation.
Since management deals with human beings and human behaviour, the outcomes of these experiments are not capable of being accurately predicted or replicated and the application and use of principles of management is not universal. They have to be modified according to a given situation.
In order to get admission in medicine, Bisraj had to appear for a series of examination as the admission process is very strict for NEET, whereas his cousin Balraj joined a private management institute for an apprenticeship programme without much formalities. Identify the related feature of the profession being described above.
Well defined body of knowledge
Professional association
Ethical code of conduct
Restricted entry
To which level of management do managers of the first line belongs?
Operatives
Top level
Middle level
Operational level
As Top level of management is responsible for the welfare and operations of the whole organisation, Middle level management is responsible for the welfare and operations of ______.
Workers
Departments
Both the above
None of the above
Karuna is responsible for making annual appraisal reports of line managers. At which level of management Karuna is working?
Top level management
Middle level management
Operatives
Supervisory level management
The floor manager of a mall, Mr. Kashyap, is a very good manager, as he utilises all the functions of management to minimise the cost of maintenance of his area. He directs all the staff members under him to follow the targets and advises them to put their efforts in the direction of the achievement of these targets. Under his guidance the employees admit that they learn a lot and are able to meet their targets. This has led to the increase in their salaries.
Identify the importance of management highlighted above.
Helps in achieving group objectives and Optimum utilization of resources
Optimum utilization of resources and Survival and growth
Optimum utilization of resources and Minimisation of cost
Helps in achieving group objectives and Minimisation of cost
ASSERTION-REASON QUESTIONS In the questions given below, there are two statements marked Assertion (A) and Reason (R). Read the statements and choose the correct option:
Assertion (A): Management is considered as a tangible force.
Reason (R): Management cannot be seen and touched but its presence can be felt.
Both Assertion (A) and Reason (R) are True and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are True and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is True but Reason (R) is False.
Assertion (A) is False but Reason (R) is True.
Assertion (A): Successful Organisation need not follow a deliberate process, called management, to achieve its goals.
Reason (R): Management is the dynamic, life-giving element in every business. Without it, the resources of production remain resources and never become production.
Both Assertion (A) and Reason (R) are True and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are True and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is True but Reason (R) is False.
Assertion (A) is False but Reason (R) is True.
Assertion (A): Foreman and supervisors may be considered first line managers.
Reason (R): First line managers are responsible for directing the day-to-day activities of operatives.
Both Assertion (A) and Reason (R) are True and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are True and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is True but Reason (R) is False.
Assertion (A) is False but Reason (R) is True.
CASE/PARAGRAPH BASED QUESTIONS
| Malini is one of the most successful Board of Directors of her company, ‘Dharam Ltd.’ She uses her creativity and initiative in handling challenging situations at work. The knowledge gained by her during her student days at a renowned management institute as well as through her observation and experience over the years is applied by Malini in a skilful manner in the context of the realities of a given situation. She often reads books and other literature in various fields of management to keep her knowledge updated. |
- An aspect of the nature of management is being highlighted in the above description. Identify the aspect. (1)
- Explain any three features of the aspect identified in part (i). (3)
- As a successful manager, discuss any two objectives she wants to achieve. (2)
- Enumerate any two functions which Malini performs in Dharam Ltd. (2)
| South Indian Corner is a well-known company manufacturing washing machines. The company has the policy of paying proper attention to the training of the managers. The organisation teaches various management principles to the managers whenever required so that they can ensure that the enterprise is successfully facing the uncertainties of the future. Year by year the organisation is able to increase its revenue. This is because the managers are able to economically use the funds of the company and increase the output of the workers through various principles of management. Shivaji was hired recently to meet the increasing demand for washing machines. He realised very quickly that his job is a series of continuous tasks. After one month, he was informed by the general manager that due to an increase in international demand, production targets have been raised. He was delighted that at the end of the quarter, he was able to meet the targets, workers were happy and there was no chaos. The company has decided to open new branches for fulfilling the economic needs of the employees. |
- Identify the three points of importance of principles of management highlighted above by quoting the lines. (3)
- Identify the characteristics of management from the above paragraph by quoting the lines. (2)
- Briefly explain the characteristics of management identified above. (2)
- ‘Management’ and ‘Administration’ are synonymous terms and can be used interchangeably. Comment with reference to the nature of work involved. (1)
FILL IN THE BLANKS
The basic functions of management are performed at three levels of authority ______, ______ or ______.
Management is an ______ discipline.
______ management is concerned with planning, coordinating and controlling office activities.
TRUE OR FALSE
The terms management and administration are used simultaneously.
TRUE OR FALSE
Financial management seeks to ensure the right amount and type of funds to business at the right time and at a reasonable cost.
TRUE OR FALSE
Personnel management is a wider and higher level function involving decision making.
Solutions for 5: Management - Meaning, Nature and Importance
![C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी chapter 5 - Management - Meaning, Nature and Importance C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी chapter 5 - Management - Meaning, Nature and Importance - Shaalaa.com](/images/commerce-volume-2-english-class-12-isc_6:2887ba73d35f4510a36234795e6cdd48.jpg)
C. B. Gupta solutions for कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी chapter 5 - Management - Meaning, Nature and Importance
Shaalaa.com has the CISCE Mathematics कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी CISCE solutions in a manner that help students grasp basic concepts better and faster. The detailed, step-by-step solutions will help you understand the concepts better and clarify any confusion. C. B. Gupta solutions for Mathematics कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी CISCE 5 (Management - Meaning, Nature and Importance) include all questions with answers and detailed explanations. This will clear students' doubts about questions and improve their application skills while preparing for board exams.
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Concepts covered in कॉमर्स वॉल्यूम २ [अंग्रेजी] कक्षा १२ आईएससी chapter 5 Management - Meaning, Nature and Importance are Overview of Management - Meaning, Nature and Importance, Concept of Management.
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