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Specialization: Better decision of labour takes place which results in specialization of functions and its consequent benefits. It creates rumours: All the persons in an informal organization talk careless and sometimes a wrong thing is conveyed to the other persons. Changes in the Economic and Social Conditions also reduces the effectiveness of planning. This determines the levels of management in the structure. 3. Setting Objectives: Objectives specify what the organization wants to achieve.
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Based on the passage answer the following questions:Answer Key:Read the following passage carefully and answer the questions that follow: Two years ago Radhika completed her degree in food technology. The second function of management is Organising. Therefore, it is crucial to understand the concept of management, its nature, and its functions. This step would also involve organizing for more labour and purchase of machinery.
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It includes all the topics given in NCERT class 12 Business Studies text book. Centralization of authority means concentration of power of decision making in a few hands.
What is the importance of notes?RememberingNotes are very important for retention. Responsibility: It is the obligation of a subordinate to properly perform the assigned duty. Planning establishes standards for controlling: Planning provides the standards against which the actual performance can be measured and evaluated. Sometimes managers depend on previously tried successful plans, but it is not always true that a plan which has worked before will work effectively again.
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Limitations of Planning(A) Internal Limitations1. 2. Relations among persons working on different posts are determined. 3. Budget: A budget is a statement of expected result expressed in numerical terms for a definite period of time in the future.
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r. It originates from within the formal organization as a result of personal interaction among employees. The student has to keep in mind that the concept-based questions can be attempted only with the proper understanding of the business concepts. Business growth is directly proportional to the growth prosperity of the nation.
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Establishing Reporting Relationships: Granting requisite authority to enable employees to perform the job satisfactorily. Revision notes in exam days is one of the best tips recommended by teachers during exam days. Duplicity of Functions: Entire set of functions is required for all divisions. Managerial Development: It means giving authority to the subordinates up to the lower level to take decisions regarding their work. (2) Organizations which require high check it out of functional specialization with diversified activities.
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It is a document that outlines how goals are going to be met. So with the help of logical plans, objectives of an organization could be achieved easily. explanation organization requires finance to run its business and achieve organizational objectives. Difference between Formal Informal OrganisationChain. The best part of having these questions is that the question itself projects a hint of its solution. 3.
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Resend OTP The Central Board of Secondary Examination [CBSE] carries out periodic changes frequently in the structure of syllabus and question pattern across different commerce subjects. The Work is based on rules which causes unnecessary delays. Go through the above blog to anchor CBSE Class 12 Business Studies Revision Notes. should be done. What are the roles of the bank and the stock exchange with respect to each other?3.
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The seventh chapter of Class 12 Business Studies, Directing, covers everything required to know about directing, leadership, supervision, and communication. The notes of the first chapter, Nature and Significance of Management provided with the quick links given below, include important topics like, Effectiveness, Efficiency, Coordination, Planning, Controlling, Management as a Science, and many more. Jobs are assigned to an individual best suited to perform it. 4. In particular, case studies are based on real-life scenarios which concern business-related situations.
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Planning means deciding in advance regarding the works of an organization. We ensure that only the latest syllabus is uploaded and our teachers Click This Link with many years of teaching experience. Business Studies Class 12 Notes are written by subject experts with over 20 years of experience and a thorough understanding of the latest CBSE syllabus as well as the Class 12 Board exam pattern. .