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Features and Characteristics of Management Video Lecture | Business Studies CUET Preparation - Commerce

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FAQs on Features and Characteristics of Management Video Lecture - Business Studies CUET Preparation - Commerce

1. What are the key features of management in commerce?
Ans. The key features of management in commerce include planning, organizing, staffing, directing, and controlling. Planning involves setting goals, defining strategies, and developing action plans. Organizing involves arranging resources and tasks. Staffing involves recruiting, selecting, training, and developing employees. Directing involves guiding and motivating employees to achieve organizational goals. Controlling involves monitoring performance and taking corrective actions.
2. What are the characteristics of effective management in commerce?
Ans. Effective management in commerce is characterized by clear communication, strong leadership, decision-making skills, problem-solving abilities, and the ability to motivate and inspire employees. Clear communication ensures that information flows smoothly within the organization. Strong leadership provides direction and guidance to employees. Decision-making skills help managers make informed choices. Problem-solving abilities enable managers to identify and address challenges. Motivation and inspiration help managers engage and energize their teams.
3. How does management contribute to the success of a commerce business?
Ans. Management plays a crucial role in the success of a commerce business. Effective management ensures that the organization is well-planned, organized, and efficiently operates. It helps in setting clear goals and strategies, and ensures that resources are allocated effectively. Management also involves making informed decisions, solving problems, and motivating employees to achieve their best performance. Overall, management ensures that the business operates smoothly and achieves its objectives.
4. What are the key responsibilities of a manager in commerce?
Ans. The key responsibilities of a manager in commerce include planning, organizing, staffing, directing, and controlling. Planning involves setting goals, developing strategies, and creating action plans. Organizing involves arranging resources and tasks. Staffing involves recruiting, selecting, training, and developing employees. Directing involves guiding and motivating employees to achieve organizational goals. Controlling involves monitoring performance and taking corrective actions.
5. How does effective management contribute to the growth and development of a commerce business?
Ans. Effective management contributes to the growth and development of a commerce business by ensuring efficiency, productivity, and innovation. When a business is well-managed, resources are utilized optimally, leading to increased efficiency and productivity. Effective management also fosters a culture of innovation and continuous improvement, allowing the business to adapt to changing market conditions and seize new opportunities. As a result, the business can grow, expand its market share, and achieve long-term success.
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