CUET Business Studies Previous Year Solved Paper 4 (22 August 2022 Slot-2) - Humanities/Arts MCQ

(i) Management of work It is concerned with performance of tasks in an organisation.
(ii) Management of people It implies dealing with employees as individuals and dealing with individuals as a group.
(iii) Management of operations It is interlinked with both management of work and management of people

The basic objective of any organisation is survival. For this, an organisation must earn sufficient revenues to cover the cost.

Management is a continuous or never ending function. All the functions of management are performed continuously. Management is a group activity. Management is divided into people management where a
leader shall manage his team, and the combined efforts only will yield fruitful results.

Functional foremanship is the technique of scientific management that is the extension of the principle of division of work and specialisation

Full fledged profession - Management is not considered as a full-fledged profession
Restrict entry, Presence of professional associations, Existing of ethical code, etc.

This henry fayol principle of management states that employees should be paid fair wages for the work that they carry out. Any organization that underpays its workers will struggle to motivate and keep quality workers. This remuneration should include both financial and non-financial incentives

Specific forces such as investors, customers, competitors, suppliers, etc

Setting objectives, Developing premises, Identifying alternative courses of action, Evaluating alternative courses are the steps followed in the planning process.

(i) Identifying (ii) Grouping (iii) Delegating (iv) Establishing relationship.

(B) Promotion and Career Planning
(D) Performance Appraisal

A functional structure is a type of business structure that organizes a company into different departments based on areas of expertise. These departments serve as functional units and are overseen by functional managers or department heads

Under the direct recruitment, a notice is placed on the notice board of the enterprise specifying the details of the jobs available

Job rotation is a process in which the trainee is systematically transferred from one job to another, so as to broaden his knowledge and attitudes in diversified fields.

Since the structure & positions are decided, motivated to work in harmony with the goals of the organization, staffing is closely linked to organizing. Thus, staffing is seen as a generic function of management.

The correct answer is A: B, A, C, E, D.

1. Preliminary Screening (B)

• This is the initial step in the selection process where the applications and resumes of the candidates are reviewed.
• Candidates who do not meet the minimum qualifications or requirements for the job are eliminated during this stage.

2. Selection Tests (A)

• After the preliminary screening, candidates who meet the basic qualifications are given various selection tests.
• These tests assess the skills, knowledge, and abilities of the candidates related to the job.

3. Employment Interview (C)

• Once the candidates pass the selection tests, they are invited for an employment interview.
• This is an opportunity for the employer to evaluate the candidate's communication skills, attitude, and ability to fit in the organization.

4. Reference and Background Check (E)

• After the interview, the employer checks the candidate's references and background to verify the information provided by the candidate.
• This may include contacting previous employers, educational institutions, and other relevant sources.

5. Medical Examination (D)

• The final step in the selection process is the medical examination, where the candidate's physical fitness and health are assessed.
• This examination ensures that the candidate is fit for the job and does not pose any health risks to the organization or its employees.

In summary, the correct sequence for the selection process is Preliminary Screening, Selection Tests, Employment Interview, Reference and Background Check, and Medical Examination (B, A, C, E, D).

According to Maslow's Need Hierarchy theory, human needs can be categorized into five levels. The third level, known as belonging needs, primarily focuses on social aspects, such as relationships and connections with others.

Belonging Needs:

• Affection: The need to feel loved and cared for by others.
• Acceptance: The need to feel a sense of belonging and being accepted by others.
• Friendship: The need to establish and maintain meaningful relationships with others.

Hence, the correct answer is B: A, B, and E only, as these needs align with the belonging needs as per Maslow's Need Hierarchy theory.

The action of leading a group of people or an organisation.”

in this network, the subordinate can communicate with his or her superior and also with the superior of the superior. This helps in the easy and fast transfer of information and reports.

The critical path method (CPM) is a technique where you identify tasks that are necessary for project completion and determine scheduling flexibilities.

The function without which planning is meaningless is, “controlling”. Controlling refers to an activity that ensures the proper working of the organizations as per the plans

Employee motivation is the level of commitment, energy and innovation that a company’s staff hold during the working day. It’s as important as it is difficult to track; maintaining and improving motivation in the workplace can be a problem for many companies, as not every task will be interesting.

Improving employees’ motivation: Controlling helps employees in realising what they are expected to do and what are the standards of performance. This motivates them to perform better.

The correct answer is B: C, B, D, A, E.

The process of controlling involves the following steps:

1. Setting performance standards:

• - Establish clear and measurable objectives
• - Set specific targets for employees to achieve
• - Ensure that standards are realistic and attainable

2. Measurement of actual performance:

• - Collect data on employee performance
• - Monitor progress towards achieving targets
• - Use various tools and techniques to measure performance, such as key performance indicators (KPIs), performance appraisals, and progress reports

3. Comparing actual performance with standards:

• - Analyze the data collected in the previous step
• - Determine if employees are meeting the set standards
• - Identify any gaps or deviations between actual performance and the established standards

4. Analyzing deviations:

• - Determine the cause of any deviations from the set standards
• - Identify whether the deviations are due to individual performance issues, process inefficiencies, or external factors
• - Evaluate the impact of these deviations on the overall objectives

5. Taking corrective action:

• - Develop and implement strategies to address identified deviations
• - Provide feedback and coaching to employees
• - Adjust performance standards if necessary to better align with the organization's goals

By following these steps in the correct sequence, managers can effectively control the performance of their team and ensure that organizational objectives are met.

A capital budgeting decision is both a financial commitment and an investment. By taking on a project, the business is making a financial commitment, but it is also investing in its longerterm direction that will likely have an influence
on future projects the company considers

The debt service coverage ratio (DSCR) is a key measure of a company’s ability to repay its loans, take on new financing and make dividend payments.

Wealth maximization (shareholders’ value maximization) is also a main objective of financial management. Wealth maximization means to earn maximum wealth for the shareholders.