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Nature and Significance of Principles of Management Video Lecture | Business Studies (BST) Class 12 - Commerce

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FAQs on Nature and Significance of Principles of Management Video Lecture - Business Studies (BST) Class 12 - Commerce

1. What are the principles of management in commerce?
Ans. The principles of management in commerce are a set of guidelines or rules that help managers in making effective decisions and achieving organizational goals. These principles include planning, organizing, staffing, directing, and controlling.
2. Why are the principles of management significant in commerce?
Ans. The principles of management are significant in commerce because they provide a framework for managers to effectively manage their organizations. These principles help in improving productivity, ensuring efficient use of resources, motivating employees, and achieving overall success.
3. How does planning contribute to effective management in commerce?
Ans. Planning is an important principle of management in commerce. It involves setting goals, determining the action steps to achieve those goals, and allocating resources accordingly. Planning helps managers anticipate future challenges, make informed decisions, and ensure that all activities are aligned towards achieving the desired outcomes.
4. What is the role of organizing in management in commerce?
Ans. Organizing is a principle of management that involves arranging resources and activities in a structured manner to achieve organizational objectives. It includes tasks such as defining roles and responsibilities, establishing clear communication channels, and creating an organizational structure. Organizing helps in improving efficiency and coordination within the organization.
5. How does controlling contribute to effective management in commerce?
Ans. Controlling is a principle of management that involves monitoring and evaluating the progress towards achieving goals. It helps managers identify deviations from the planned course of action and take corrective measures. Controlling ensures that performance is aligned with the set standards and helps in maintaining quality, efficiency, and effectiveness in organizational operations.
53 videos|205 docs|49 tests

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