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Summary Short and Crisp Handwritten notes of Chapter 1 and 2 of Business Studies for Commerce students of Class 12 with practice questions with solutions for exams.

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Short and Crisp Handwritten notes of Chapter 1 and 2 of Business Studies for Commerce students of Class 12 with practice questions and solutions for exams.

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Summarized whole book?
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Which chapters are summarized?
Chapter 1-2 with practice questions
Uploaded on
May 27, 2023
Number of pages
6
Written in
2022/2023
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Summary

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AMITY INTERNATIONAL SCHOOL, SECTOR-1,
CLASS XII
VASUNDHARA
SUBJECT: BUSINESS STUDIES
CH-2: PRINCIPLESOF MANAGEMENT
WORKSHEET-3 06/04/2023
i. Radhikaopens a jewellry showroom in Jaipur after completing a
course in jewellry designing. She has
employed eleven persons in her showroom. For greater productivity, she divides the work into small tasks
and cach employee is trained to perform his/her specialised job. The sales persons are allowed to
deal with a buyer bygiving a maximum of 10% discount, whereas the decision to give any furtherclosc a
discount rests with Radhika as the final authority. In the earlier days of starting of the business, five of her
employees were asked to put in extra hours of work. In return she had promised to give them a special
Incentive within a year. Therefore, after six months when the business was doing well, she awarded a cash
bonus to each of these employees to honour her commitment. However, when it comes to settling the
conflicts among her employees, she tends to be more biased towards her female cmployccs.
In context of the above case:
a. ldentifyand explain the various principles of management that are being applied by Radhika by
quoting lines from the paragraph.
b. ldentify and explain the principle of management which is being violated by Radhika by quoting lines
from the paragraph.
C. State any one effect of the violation of the principle of management by Radhika as identified in part(b)
of the question.
2. Neeraj is selected for the post of software developer in an IT Company. On the first day across
of his joining
many such
Mehul, his project manager tells Neeraj that during the course of his work he will come
bencfit at thc cost of
opportunities which may tempt him to misuse his powers for individual or family's
exemplary behaviour as
larger general interest of the cómpany. In such situations, he should rather exhibit
anyone in the company on
with
it will raisc his stature in the eyes of tie company. À0SO, fOr interacting
communication.
authority and
official matters, he should adopt the formal chain of
In context of the above case:
managenment that Mehul is advising Neeraj to follow
a. Identify and explain the various principles of
while doing his job.
communicate to Neeraj.
b. List any two values that Mehul wants to

running aretail mart in Varanasi to provide various types of products of daily use under one
B. Gurpreet is in his business is very high and he is perpetually
on a look out
roof to the buyers. The employee turnover lacks managerial skills and assigns work to his
employees
staff. The fact of the matter is that he
for new
letting them settle down in a specific work. This approach of his creates a sense of
on adhoc basis without the job very quickly. However, he is a very god
the employees and they tend to leave ofliving.
insecurity among reasonable standard
person and offers fair wages to his employees so they can afford a
fearing
In context of the above case: is unable to apply and is perpetually
a. Identify and explain the principle of management which Gurpreet
new staff.
on a look out for a reasonable
fearing person and offers fair wages to his employees so they can afford brought into
b. He is a very god the relevant principle of management willhas
been
standard of living." Name and explain
effect by Gurpreet.

, 4. Raj and Simran are
they decide to persueboth qualified eye
a career of their surgeons and good friends. After
eye careobtaining
joins agovernment own choice. Raj starts an a certificate of
hospital
visit his eye care centre and in a small village. They meet centre in the city whereaspractice,
she accepts his after a long time in a party. Raj invites Simnran
for everything and
everyone invitation. She
and it is present there so that observes at his clinic that there is a Simran to
clinic. Also, Raj always tends to there is no hinderance in the fixed place
on Rai shares with her replace T with We' in all his activities pf the
that he always deals with lazy staff conversations with the staff members. Later
cqual in his eyes. sternly to send the message that
In context of the above case: everyone is
a. ldentify and explain the
various principles of management that Raj is
management of his eye care centre. applying for the successful
b. List any two values that
Simran wants to to the communicate society by taking up ajob in a village.
5. Hritik is desirous of setting up a
small
materials. He proposes to adopt a logicalfactory
to manufacture different kinds of
approach to his business rather than hit eco-friendly
knows that this can result in tremendous saving
packaging
and trial method as he
of human energy as well as
He plans to adopt paternalistic style of wastage of time and materials.
lhat may emerge between him and the management in practice in order to avoid any kind of class-conflict
workers. Moreover,
before taking any important decisions and also offers he plans to seek the opinion of his workers
suggestions for the business. incentives to them for providing valuable
In context of the above case:
a. Identify and explain the various principle of
business. scientific management that Hritik plans to apply in his
b. List any two values that he wants to communicate to the
material. society by offering eco-fricndly packaging
IW
Fayol sprinciples of
general management

biviseon of work " Univeralappheabity > Providing managers with useiul
iJnsight into reality
Authority annd responsibility " Cerral guidelines
Cptimum ultisation uf resources
d
ance and effective aim1nistration
NatureFeatures
Diwiplire " roruIcd by gractce and experenco mPort
- Scientiic managemerrt

Lnitv of cunarul + Flexible - Mectrg changing environment
ryuirments
Uity o direction + Mainty lxhavuura! > Fulflng sociai esponsibility
`unnlination ol indvilul > Management trauung rluaton
est lo gencral interest
Cause ke effect zelalknship and rescarch.

Remuneration ol ennplyees C'ontingent

(tralisalion and ecertrais11íra
Sala chain

(rser
Principles of management are Scientific anageenl is the
the general guidelines that help in prxcess of applicarior of slifu princapls
Equty 4 * and lechniques to the prss of narhagement
managerial decision making
ypeasddy.
and action. in order to replace trial aci error nethe?
Stabilitvol personnel 4

Initiatve

spru [Curp
Taylor s 'rinciple of Tavlor s Techniques of
Fayol Taylor scientific management. scientißc managenent
P Prartiliocer
Science nut rule cof thumb Work study Time study
P Hanony, not dscord Standardisatinaul * Methnd stuudy
+ Focus 0n top Jevel loor level of a simplificatiun
rsrgrent .b Cxipetation, not individual1sn Motion study
Satory º ilferentiai piece
P Suggusled funonal + ibvelrpment ot each&
wage system
atig study
foremanshíp Verpeeron l inis or
her reulest efíciency - Functional
toemanship
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