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NCERT solutions for Class 12 Business Studies chapter 1 - Nature and Significance of Management

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NCERT Business Studies Part - 1 Principles and Functions of Management Class - 12

Business Studies Part - 1 Principles and Functions of Management for Class - 12 - Shaalaa.com

Chapter 1: Nature and Significance of Management

Very Short AnswerShort AnswerLong Answer

Chapter 1: Nature and Significance of Management Exercise Very Short Answer solutions [Page 27]

Very Short Answer | Q 1 | Page 27

What is meant by management ?

Very Short Answer | Q 2 | Page 27

Name any two important characteristics of management.

Very Short Answer | Q 3 | Page 27

Identify and state the force that binds all the other functions
of management. 

Very Short Answer | Q 4 | Page 27

List any two indicators of growth of an organisation . 

Very Short Answer | Q 5 | Page 27

Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards  making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6  trailer coaches and is expected to save about 21,000 liters  of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.

Chapter 1: Nature and Significance of Management Exercise Short Answer solutions [Page 28]

Short Answer | Q 1 | Page 28

Ritu is the manager of the northern division of a large corporate  house. At what level does she work in the organisation? What are her basic functions?

Short Answer | Q 2 | Page 28

State the basic features of management as a profession. 

Short Answer | Q 3 | Page 28

Why is management considered to be a multi-dimensional
concept?

Short Answer | Q 4 | Page 28

Company X is facing a lot of problems these days. It manufactures white goods like washing machines, microwave ovens, refrigerators and air conditioners. The company’s margins are under pressure and the profits and market share are declining. The production department blames marketing for not meeting sales targets and marketing blames production department for producing goods, which are not of good quality meeting customers’ expectations. The finance department blames both production and marketing for declining return on investment and bad marketing. State the quality of management that the company is lacking? What quality of management do you think the company is lacking? Explain briefly. What steps should the company management take to bring the company back on track?

Short Answer | Q 5 | Page 28

Coordination is the essence of management. Do you agree? Give reasons.

Short Answer | Q 6 | Page 28

Ashita and Lakshita are employees working in Dazzling  enterprises dealing in costume jewellery. The firm secured  an urgent order for 1,000 bracelets that were to be delivered  within 4 days. They were assigned the responsibility of  producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the  stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit.  State whether Ashita and Lakshita are efficient and effective.  Give reasons to justify your answer.

Chapter 1: Nature and Significance of Management Exercise Long Answer solutions [Pages 28 - 29]

Long Answer | Q 1 | Page 28

Management is considered to be both an art and science.
Explain. 

Long Answer | Q 2 | Page 28

Do you think management has the characteristics of a fullfledged  profession ? 

Long Answer | Q 3 | Page 29

“A successful enterprise has to achieve its goals effectively and efficiently.” Explain. 

Long Answer | Q 4 | Page 29

Management is a series of continuous interrelated functions.  Comment.

Long Answer | Q 5 | Page 29

A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about  which you are familiar. What  Decisions/steps should each  level of management take to give effect to this decision?

Long Answer | Q 6 | Page 29

A firm plans in advance and has a sound organisation  structure with efficient supervisory staff and control system  but on several occasion it finds that plans are not being  adhered to. It leads to confusion and duplication of work.  Advise remedy.

Chapter 1: Nature and Significance of Management

Very Short AnswerShort AnswerLong Answer

NCERT Business Studies Part - 1 Principles and Functions of Management Class - 12

Business Studies Part - 1 Principles and Functions of Management for Class - 12 - Shaalaa.com

Textbook solutions for Class 12






















NCERT solutions for Class 12 Business Studies chapter 1 - Nature and Significance of Management

NCERT solutions for Class 12 Business Studies chapter 1 (Nature and Significance of Management) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the CBSE Business Studies Part - 1 Principles and Functions of Management for Class - 12 solutions in a manner that help students grasp basic concepts better and faster.

Further, we at Shaalaa.com provide such solutions so that students can prepare for written exams. NCERT textbook solutions can be a core help for self-study and acts as a perfect self-help guidance for students.

Concepts covered in Class 12 Business Studies chapter 1 Nature and Significance of Management are Concept of Management, Objectives of Management, Importance of Management, Management as Science, Art and Profession, Levels of Management, Management Functions, Coordination as an Essence of Management.

Using NCERT Class 12 solutions Nature and Significance of Management exercise by students are an easy way to prepare for the exams, as they involve solutions arranged chapter-wise also page wise. The questions involved in NCERT Solutions are important questions that can be asked in the final exam. Maximum students of CBSE Class 12 prefer NCERT Textbook Solutions to score more in exam.

Get the free view of chapter 1 Nature and Significance of Management Class 12 extra questions for Business Studies and can use Shaalaa.com to keep it handy for your exam preparation

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