Students can Download Business Studies Chapter 1 Management of Business Questions and Answers, Notes, KSEEB Solutions for Class 9 Social Science helps you to revise the complete Karnataka State Board Syllabus and score more marks in your examinations.
Karnataka State Syllabus Class 9 Social Science Business Studies Chapter 1 Management of Business
Class 9 Social Science Management of Business Textual Questions and Answers
I. Answer the following questions in a sentence.
What is management?
Management is the process of getting pre-determined things done through others by directing their efforts in an integrated and co-ordinated objectivities of business.
What do you mean by decision making?
By decision making we mean the mental process, resulting in the selection of a course of action among several activities.
What is an individual decision and what is a collective decision?
An individual decision is that wherein small business organizations like sole trading concerns, the individual takes the decision. Decision making by a group of people as in the case of partnership firms and the Board of Directors as in the case of Joint Stock Companies or Cooperative Societies are called group decision or collective decision.
What is the principle of authority and responsibility in principles of management?
The principle of authority and responsibility means both are the combination of official authority and personal responsibility and they are compounded with intelligence, moral worth, etc.
II. Answer each of the following questions in about four to five sentences:
What are the principles of management suggested by Henry Fayol?
The principles suggested by Henry Fayol are :
- Division of work,
- Authority and responsibility,
- Unity of Command,
- Unity of Direction,
- Sub-ordination of Individual interest to General interest.
- Remuneration of personnel,
- Scalar chain
- Stability of security to personnel.
- Espirit De-Crops.
What are the functional areas of management?
The functional areas of the management are:
- Planning: It is one of the important functional areas. It involves the future course of operation for a given period.
- Organizing: It is the process of bringing together the manpower and material resources.
- Staffing: It is the function of recruiting, selection, training, growth, etc.
- Directing: It is the area of functional management.
- Co-ordination: It is the area of blending the activities of different departments for achieving goals.
- Controlling: It is an important area of the managerial functions.
Write about the authority and responsibility, scalar chain and centralization in principles of management?
By authority and responsibility, scalar chain and centralization in principles of management we mean as –
- Authority and responsibility are the combination of official authority and personal responsibility and both are compounded with intelligence, experience, past experience, moral worth, etc.
- A scalar chain is that every enterprise should have graded authority or a superior-subordinate relationship.
- Centralization refers to the extent to which authority is concentrated so that it gives the overall yields.
What is the need for decision making in the management of the business?
Decision making in the management of business solves many problems. The need for decision making, some points should be kept in mind. They are :
- Time factor
- wise decision
What are the important elements of decision making?
The important elements of decision making are:
- Establishing goals
- Defining tasks
- searching for alternatives
- developing plans
- Rational thinking and reasoning
What factors are to be kept in mind, while making a decision?
The factors, to be kept in mind while taking decision are :
- Analyzing the problem
- Planning the course of action
- Maintaining courage and patience
- Ability to take a quick and wise decision
What do you mean by planning and organization in functional areas of management?
By planning and organization in functional areas of management, we mean as under :
Planning is a process which includes determination of organizational objective and formulation of plans, policies, strategies, programs, procedures, and schedules. The organization is the process of bringing together the manpower and material resources.
How is controlling an important area of managerial function?
It keeps checking on other functions of management. It is a function that every manager in the organisation has to perform to ensure proper coordination of activities. It ensures confirmation of actual performance with the predetermined plans It achieves the increase of the efficiency of the overall.
What are the main objectives of the control areas?
The main objectives of control areas are :
- to create an atmosphere of order and discipline in the organization to ensure proper coordination of activities.
- to ensure confirmation of actual performance with the pre-determined plans,
- to achieve an increase in the overall efficiency of the organization.
“Directing and co-ordinations are very important functions in business management”. How?
“Directing and co-ordinations are very important functions in business management. Both play a very important role in achieving the goals of the organization. Due to the direction, only the instructions are properly carried out and the operations are successfully planned. Secondly, coordination plays an important role. It harmoniously blends the activities of the different departments for the achievement of desired goals. Thus directing and coordinating functions are very important functions in business.