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SHORT QUESTIONS FOR BUSINESS STUDY FOR PLUS TWO
COMMERCE
•
QUESTIONS ( 2 MARKS)
1.
EXPLAIN MANAGEMENT AS PROCESS?
2.
WHAT IS SOCIO –CULTURAL ENVIRONMENT?
3.
EXPLAIN STAFFING
4.
DEFINE MOTIVATION
5.
WHAT IS SPAN OF CONTROL
6.
WHAT IS FINANCIAL MARKET
7.
WHAT IS ADVERTISING
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QUESTIONS 4 MARKS
1.
WRITE ANY FOUR PRINCIPLES OF CO-ORDINATIONS ?
2.
EXPLAIN THE DIFFERENCE BETWEEN UNITY OF COMMAND AND UNITY OF DIRECTION?
3.
WRITE ANY FOUR DIFFERENCE BETWEEN DELEGATION AND DECENTRALIZATION?
4.
WRITE ANY FOUR FEATURES OF COMMUNICATION?
5.
EXPLAIN ANY FOUR TYPES OF STRATEGY?
6.
EXPLAIN ANY FOUR ELEMENTS AFFECTING
WORKING CAPITAL REQUIREMENT?
7.
WRITE THE ESSENTIAL CHARACTERISTICS OF CHANNEL OF DISTRIBUTION
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MANAGEMENT AS PROCESS
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AS A PROCESS MANAGEMENT REFERS TO A SERIES OF INTER RELATED FUNCTIONS. A PROCESS IS SYSTEMATIC WAY OF DOING THINGS.IT IS THE PROCESS BY WHICH MANAGEMENT CREATES,OPERATES AND DIRECT PURPOSIVE ORGANIZATION THROUGH
SYSTEMATIC,COORDINATED AND COOPERATED HUMAN EFFORTS.
•
GEORGE TERRY,” MGMT IS A DISTINCT PROCESS
CONSISTING OF PLANNING,ORGANIZING,ACTUATING AND CONTROLLING,PERFORMED TO
DETERMINE AND ACCOMPLISH STATED OBJECTIVES BY THE USE OF HUMAN BEINGS AND OTHER
RESOURCES.
•
FEATURES OF PROCESS ARE:-SOCIAL PROCESS,CONTINUOUS PROCESS,UNIVERSAL AND
ITERATIVE
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SOCIO CULTURAL ENVIRONMENT
•
THE SOCIO CULTURAL ENVIRONMENT OF A BUSINESS IS THE CUSTOMS AND VALUE THAT
SHAPE AND GUIDE THE BUSINESS PRACTICES.A COMPANY’S VALUES ARE SHOWN BY ITS
POLICIES. IT IS CREATED BY THE DEMOGRAPHIC FEATURES OF ITS LEADERS ALONG WITH
ITS EMPLOYEES. FOR EXAMPLE A COMPANY WITH A STRONG FAMILY FOCUSED CULTURE WILL
PROVIDE MORE FACILITY TO EMPLOYEES.IT ALSO AFFECT THE MARKET PLACE. THE COMPANIES
HAS TO CONSIDER SOCIO CULTURAL ENVIRONMENT BEFORE PRODUCING AND ALSO IN FRAMING PROMOTIONAL STRATEGY.
•
AS THE BUSINESS WORK IN THE SOCIETIES SO SOCIETIES DIFFERENT FACTORS LIKE
FAMILY,EDUCATIONAL INSTITUTIONS,RELIGIONS AND CULTURAL VALUE AFFECT THE
BUSINESS
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STAFFING
•
STAFFING IS THE PROCESS OF HIRING ELIGIBLE PERSONS IN THE ORGANIZATION OR
COMPANY FOR SPECIFIC POSITIONS. STAFFING IS THE PROCESS OF
IDENTIFYING,ASSESSING,PLACING,DEVELOPING AND EVALUATING INDIVIDUALS AT WORK.
• TH MANAGERIAL
FUNCTION OF STAFFING INVOLVES MANURING THE ORGANIZATIONAL STRUCTURE THROUGH
PROPER AND EFFECTIVE SELECTION,APPRAISAL AND DEVELOPMENT OF PERSONNEL TO FILL
THE ROLES DESIGNED INTO THE STRUCTURE.
• STAFFING
HELPS IN DISCOVERING AND OBTAINING COMPETENT AND PERSONNEL FOR VARIOUS
POSITIONS AND IT HAS THE OBJECTIVE OF RIGHT PERSONS AT THE RIGHT JOB AT THE
RIGHT TIME AND IN THE RIGHT QUANTITY PERFORMING IN RIGHT MANNER.
•
MOTIVATION
•
RENSIS LIKERT HAS CALLED MOTIVATION,” THE CORE
OF MGMT’
•
MOTIVATION HAS BEEN DERIVED FROM ‘MOTIVE’ WHICH MEANS ANY IDEA,NEED OR
EMOTION THAT PROMPTS A MAN INTO ACTION.WHATEVER MAY BE THE BEHAVIOR OF A
MAN,THERE IS SOME STIMULUS BEHIND IT. STIMULUS IS DEPENDENT UPON THE MOTIVE OF
THE PERSON CONCERNED.
•
MOTIVATION REFERS TO DEGREE OF READINESS OF AN ORGANISM TO PURSUE SOME
DESIGNATED GOAL AND IMPLIES THE DETERMINATION OF THE NATURE AND LOCUS OF
FORCES,INCLUDING THE DEGREE OF READINESS.
•
NATURE OF THE MOTIVATION
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VANCE,” MOTIVATION IMPLIES ANY EMOTION OR DESIRE
WHICH SO CONDITIONS ONE’S WILL THAT THE INDIVIDUAL IS PROPERLY LED INTO ACTION”
1.
MOTIVATION IS INNER FEELING WHICH ENERGIZE A PERSON TO WORK MORE
2.
THE EMOTIONS OR DESIRES OF A PERSON PROMPTS HIM FOR DOING A PARTICULAR WORK
3.
UNSATISFIED NEEDS OF A PERSON WHICH DISTURB HIS
4.
TO FULFILL HIS UNSATISFIED NEEDS
5.
PASSIVE ENERGIES WHICH ARE ACTIVATED BY MOTIVATION
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SPAN OF CONTROL
•
SPAN OF CONTROL OR SPAN OF MANAGEMENT REFERS TO THE NUMBER OF SUBORDINATES
WHO CAN BE MANGED EFFICIENTLY BY SUPERIOR.
•
NUMBER OF SUBORDINATES DIRECTLY REPORTING TO A MANGER IS KNOWN AS SPAN OF
MGMT. SPAN OF CONTROL IS OF TWO TYPES: NARROW SPAN OF CONTROL MEANS A SINGLE
MANGER SUPERVISING FEW SUBORDINATES AND
IT REQUIRES TALL ORGANIZATION STRUCTURE. WIDE PAN OF CONTROL MEANS A SINGLE
MANAGER SUPERVISING A LARGE NUMBER OF SUBORDINATES AND REQUIRE FLAT
ORGANIZATION.
•
THE SPAN OF CONTROL DEPENDS UPON VARIOUS FACTORS FOR EXAMPLE NATURE OF THE
ORGANIZATION,NATURE OF THE JOB,SKILL AND COMPETENCIES OF A MANGER AND
EMPLOYEE’S COMPETENCY AND GEOGRAPHICAL PROXIMITY ETC
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MEANING OF FINANCIAL MARKETS
§ NOT SPECIFIC PLACE OR LOCATION
§ WHENEVER A FINANCIAL TRANSACTION TAKES PLACE,IT
IS DEEMED TO HAVE TAKEN PLACE IN THE FINANCIAL MARKET
§
FINANCIAL MARKETS CAN BE REFERRED AS TO THOSE CENTERS AND ARRANGEMENT WHICH FACILITATES BUYING AND SELLING OF FINANCIAL
ASSETS,CLAIMS AND SERVICES. SOMETIMES WE DO FIND THE EXISTENCE OF A SPECIFIC
PLACE OR LOCATION FOR A FINANCIAL MARKET IN CASE OF STOCK EXCHANGE.
§ TRANSFERRING OF FUNDS FROM THE SURPLUS SECTOR
TO THE DEFICIT SECTOR IS THE MAIN FUNCTION OF FINANCIAL MARKET
§ FINANCIAL
MARKET CONSISTS OF MONEY MARKET(SHORT TERM FUNDS) AND CAPITAL MARKET DEALS WITH
LONG TERM FUNDS.
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DEFINITION OF ADVERTISING
•
AMERICAN MARKETING ASSOCIATIONS:-ANY PAID FORM
OF NON PERSONAL PRESENTATION OF
IDEAS,GOODS,OR SERVICES BY AN IDENTIFIED SPONSOR.
•
NEW ENCYCLOPEDIA BRITANNICA,”ADVERTING IS A
FORM OF COMMUNICATION INTENDED TO PROMOTE THE SALE OF THE PRODUCT OR SERVICE TO
INFLUENCE PUBLIC OPINION,TO GAIN POLITICAL SUPPORT OR TO ADVANCE A PARTICULAR
CAUSE.
•
IT IS MEDIUM OF IMPERSONAL SALES EFFORTS. IT IS ALSO DESCRIBED AS
SALESMANSHIP IN PRINT. IT IS PAID FORM OF PUBLICITY AND NO DIRECT CONTACT BETWEEN THE ADVERTISER AND THE CUSTOMER BUT
IT IS GIVEN BY IDENTIFIED SPONSOR.
•
IT IS USED TO POPULARIZE THE PRODUCT AND CREATING AND INFLUENCING THE DEMAND.
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PRINCIPLES OF COORDINATION
1.
PRINCIPLE OF DIRECT CONTACT:- MISS FOLLET BELIEVES THAT THROUGH DIRECT
CONTACT COMMUNICATION AND COORDINATION CAN BE IMPROVED
2.
PRINCIPLE OF EARLY BEGINNING:- MORE READILY IN THE EARLY STAGES OF PLANNING
AND EXECUTION.
3.
PRINCIPLE OF RECIPROCAL RELATIONSHIP:-ALL THE FACTORS IN A SITUATION ARE
RECIPROCALLY RELATED. THE WORK OF ONE PERSON IS DEPENDENT ON OTHER WHO IN TURN
DEPENDENT ON SOME OTHER. IN THE ABSENCE OF COORDINATION THE WORK OF EVERY ONE
WILL SUFFER.
4.
PRINCIPLE OF CONTINUITY:-IT IS MANAGERIAL PROCESS WHICH IS EXERCISED
CONTINUOUSLY.
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DIFFERENCE BETWEEN UNITY OF COMMAND AND UNITY
OF DIRECTION
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UNITY OF COMMAND
1.
ONE BOSS
2.
ONE COMMAND AND FIXING RESPONSIBILITIES
3.
CONCERNED WITH THE FUNCTIONING OF PEOPLE
4.
IT HELPS IN IMPROVING EFFICIENCY BY DECIDING
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UNITY OF DIRECTION
- ONE UNIT AND ONE PLAN
- RELATED TO THE ACTIVITIES
- ON DIRECTING THE EFFORTS OF ONE DEPARTMENT FOR ACHIEVING THE GOALS
- THE EFFORT IS TO ACHIEVE COORDINATION AMONG DIFFERENT PEOPLE.
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MEANING OF POSDCORB
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USED BY LUTHER GULLICK
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P-----PLANNING
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O-----ORGANIZING
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S---STAFFING
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D---DIRECTING
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CO----COORDINATION
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R-----REPORTING
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B--BUDGETING
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