Commerce Exam > Commerce Notes > Business Studies (BST) Class 12 > Value based and Additional Questions And Answers - Introduction to Management
Value based and Additional Questions And Answers - Introduction to Management | Business Studies (BST) Class 12 - Commerce PDF Download
VALUE BASED QUESTIONS
Q.1. X limited is not be able to use its resources efficiently. There is lot of wastage of raw material and machine hours. What kind of values is ignored by the organization and what would be its consequences.
Q.2. Department Heads of a leading company are themselves setting standards for the respective departments without paying any heed to organisational objectives. What kind of values is ignored by Department Heads and what would be its consequences.
Q.3. X limited is running business successfully. It uses environment friendly methods of production and is also providing employment opportunities to disadvantaged sections of society.
1. Identify the objective of management which it wants to fulfill by doing such activities
2. State any two other objectives that the management should fulfill
3. Identify two values which management communicate by fulfilling the objectives stated in part(1)
Q.4. Amar Ltd. is engaged in production of electrical goods the company profits and market share are declining. The production department blames the marketing department for not meeting the sales targets and the marketing department blames the production department for producing goods which are not of good quality and do not meet the customer’s expectations. The finance department blames both the production and marketing departments for declining return on investment.
1. What quality of management do you think the company is lacking?
2. List its two features
3. List any two values which are ignored by employees of Amar Ltd.
Q.5. A Cloth manufacturer distributes its defective product at free of cost (after getting them repaired from Nari Niketan at lower cost) to orphanage.
1. Which values are being attested in this solution?
2. Identify and explain objective of management highlighted in given case-
A leading shoe manufacturing company is using banned animal skin to make products which are in demand and thus making large profit. Which marketing concept is ignored here.
Q.2. Department Heads of a leading company are themselves setting standards for the respective departments without paying any heed to organisational objectives. What kind of values is ignored by Department Heads and what would be its consequences.
Q.3. X limited is running business successfully. It uses environment friendly methods of production and is also providing employment opportunities to disadvantaged sections of society.
1. Identify the objective of management which it wants to fulfill by doing such activities
2. State any two other objectives that the management should fulfill
3. Identify two values which management communicate by fulfilling the objectives stated in part(1)
Q.4. Amar Ltd. is engaged in production of electrical goods the company profits and market share are declining. The production department blames the marketing department for not meeting the sales targets and the marketing department blames the production department for producing goods which are not of good quality and do not meet the customer’s expectations. The finance department blames both the production and marketing departments for declining return on investment.
1. What quality of management do you think the company is lacking?
2. List its two features
3. List any two values which are ignored by employees of Amar Ltd.
Q.5. A Cloth manufacturer distributes its defective product at free of cost (after getting them repaired from Nari Niketan at lower cost) to orphanage.
1. Which values are being attested in this solution?
2. Identify and explain objective of management highlighted in given case-
A leading shoe manufacturing company is using banned animal skin to make products which are in demand and thus making large profit. Which marketing concept is ignored here.
ADDITIONAL QUESTIONS
Q.1. Why is management considered a multi-faceted concept ?
Hint/Answer: Explain Management is multi-dimensional
Q.2. The authority and responsibility of managers at supervisory or operational level is limited, but the importance of functions of personnel employed at this level cannot be overlooked.”
Hint/Answer: Explain functions of supervisory or operational level
Q.3. A business need to add prospects in long run. Identify and explain the organisational objective highlighted here.
Hint/Answer: Explain Growth as an organisational objective
Q.4. The task of management is to make people work towards achieving the organisations goals, by making their strengths effective and their weaknesses irrelevant. Which dimension of management is being referred here?
Hint/Answer: Management of people
Q.5. A manager applies these scientific methods and body of knowledge to a given situation, an issue or a problem, in his own unique manner. Which aspect of nature of management is being discussed here?
Hint/Answer: Management as an Art
Q.6. In an organisation ,targets are met according to plans, employees are happy and satisfied, and there is orderliness instead of chaos. Which characteristic of management is being highlighted here?
Hint/Answer: Management is an intangible force
Q.7. Anyone can be called a manager irrespective of the educational qualifications possessed.
Why?
Hint/Answer: Explain the point Restricted entry of Management as a Profession
Q.8. Suppose, a company’s target production is 5000 units in a year. To achieve this target the manager has to operate on double shifts due to power failure most of the time. The manager is able to produce 5000 units but at a higher production cost. According to you what is lacking in management?
Hint/Answer: Efficiency
Q.9. “To manage is to forecast and to plan, to organise, to command, to coordinate and to control.” Explain
Hint/Answer: Explain five functions of management
Q.10. Coordination is the essence of management. Do you agree? Give reasons.
OR
Like a thread in a garland, coordination is a part of all management functions. Explain
Hint/Answer: Explain how coordination is required at
Planning
Organising
Staffing
Directing
Controlling
Q.11. Management is a series of continuous interrelated functions.
Hint/Answer: Explain five functions of management
Q.12. Name the force that binds all the other functions of management.
Hint/Answer: Coordination
Q.13. What happens if there is Cooperation in the absence of coordination and coordination without cooperation?
Hint/Answer:
Cooperation in the absence of coordination may lead to wasted effort coordination without cooperation may lead to dissatisfaction among employees.
Q.14.The authority responsibility relationship that binds individuals as superiors and subordinates in an organization, gives rise to what?
Hint/Answer:
levels of management.
Hint/Answer: Explain Management is multi-dimensional
Q.2. The authority and responsibility of managers at supervisory or operational level is limited, but the importance of functions of personnel employed at this level cannot be overlooked.”
Hint/Answer: Explain functions of supervisory or operational level
Q.3. A business need to add prospects in long run. Identify and explain the organisational objective highlighted here.
Hint/Answer: Explain Growth as an organisational objective
Q.4. The task of management is to make people work towards achieving the organisations goals, by making their strengths effective and their weaknesses irrelevant. Which dimension of management is being referred here?
Hint/Answer: Management of people
Q.5. A manager applies these scientific methods and body of knowledge to a given situation, an issue or a problem, in his own unique manner. Which aspect of nature of management is being discussed here?
Hint/Answer: Management as an Art
Q.6. In an organisation ,targets are met according to plans, employees are happy and satisfied, and there is orderliness instead of chaos. Which characteristic of management is being highlighted here?
Hint/Answer: Management is an intangible force
Q.7. Anyone can be called a manager irrespective of the educational qualifications possessed.
Why?
Hint/Answer: Explain the point Restricted entry of Management as a Profession
Q.8. Suppose, a company’s target production is 5000 units in a year. To achieve this target the manager has to operate on double shifts due to power failure most of the time. The manager is able to produce 5000 units but at a higher production cost. According to you what is lacking in management?
Hint/Answer: Efficiency
Q.9. “To manage is to forecast and to plan, to organise, to command, to coordinate and to control.” Explain
Hint/Answer: Explain five functions of management
Q.10. Coordination is the essence of management. Do you agree? Give reasons.
OR
Like a thread in a garland, coordination is a part of all management functions. Explain
Hint/Answer: Explain how coordination is required at
Planning
Organising
Staffing
Directing
Controlling
Q.11. Management is a series of continuous interrelated functions.
Hint/Answer: Explain five functions of management
Q.12. Name the force that binds all the other functions of management.
Hint/Answer: Coordination
Q.13. What happens if there is Cooperation in the absence of coordination and coordination without cooperation?
Hint/Answer:
Cooperation in the absence of coordination may lead to wasted effort coordination without cooperation may lead to dissatisfaction among employees.
Q.14.The authority responsibility relationship that binds individuals as superiors and subordinates in an organization, gives rise to what?
Hint/Answer:
levels of management.
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FAQs on Value based and Additional Questions And Answers - Introduction to Management - Business Studies (BST) Class 12 - Commerce
| 1. What is value-based management? |  |
Ans. Value-based management is a management philosophy that focuses on creating value for stakeholders. It involves aligning the company's objectives with the interests of its stakeholders, including shareholders, customers, employees, and suppliers. The goal of value-based management is to maximize the company's long-term value, rather than just focusing on short-term profits.
| 2. What are the benefits of value-based management? | |
Ans. The benefits of value-based management include increased profitability, improved financial performance, better decision-making, and increased employee motivation. Companies that adopt a value-based management approach are more likely to create sustainable long-term value, and are better equipped to weather economic downturns.
| 3. What is the difference between value-based management and traditional management? | |
Ans. Traditional management focuses on maximizing short-term profits, often at the expense of long-term value creation. Value-based management, on the other hand, emphasizes the importance of creating sustainable long-term value for all stakeholders. While traditional management may focus on cost-cutting and increasing efficiency, value-based management focuses on creating value through innovation, customer satisfaction, and employee engagement.
| 4. What is the role of ethics in value-based management? | |
Ans. Ethics play a crucial role in value-based management. Companies that adopt a value-based management approach must ensure that their actions are consistent with their values and principles. This means that they must act ethically and responsibly, treating their stakeholders with respect and fairness. Companies that act unethically or engage in unethical practices are unlikely to create sustainable long-term value.
| 5. How can companies implement value-based management? | |
Ans. Companies can implement value-based management by aligning their objectives with the interests of their stakeholders, including shareholders, customers, employees, and suppliers. This involves setting clear goals and objectives, measuring performance against these goals, and making decisions based on the long-term impact on stakeholder value. Companies can also create a culture of innovation, customer focus, and employee engagement, which will help to drive sustainable long-term value creation.
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