NCERT Solutions
Class 12 Business Studies
11 chapters · 22 important questions
Nature and Significance of Management
Introduces management as a discipline, its characteristics (goal-oriented, continuous, all-pervasive, multi-dimensional), and the levels of management. Management as an art, science, and profession is discussed.
Key Topics
Important Questions
Is management an art or a science? Discuss.
Explain the importance of management for an organisation.
Principles of Management
Covers Fayol's 14 principles and Taylor's scientific management principles and techniques. The contribution of each to modern management thinking is a key board topic.
Key Topics
Important Questions
Explain any five of Fayol's principles of management with examples.
What is 'Functional Foremanship' as suggested by Taylor? Explain its eight functional specialists.
Business Environment
Covers the meaning, components (economic, social, technological, political, legal), and importance of business environment. Recent changes (GST, demonetisation, digital India) and their impact on business are included.
Key Topics
Important Questions
What is business environment? Explain its five components.
How did the introduction of GST change the business environment in India?
Planning
Covers the meaning, features, importance, and limitations of planning. The planning process and types of plans (objectives, strategies, policies, procedures, rules, programmes, budgets) are important topics.
Key Topics
Important Questions
'Planning is looking ahead while controlling is looking back.' Comment.
Explain the types of plans. Give an example of each.
Organising
Covers the process of organising, formal and informal organisation, delegation of authority (authority, responsibility, accountability), and decentralisation. Comparison of functional and divisional structures is important.
Key Topics
Important Questions
What is delegation? Explain its elements: authority, responsibility, and accountability.
Compare functional and divisional organisational structure on any five points.
Staffing
Covers the staffing process from HR planning to separation. Recruitment (internal vs external sources), selection, training (on-the-job and off-the-job methods), and performance appraisal are key topics.
Key Topics
Important Questions
Distinguish between internal and external sources of recruitment. State two advantages of each.
Explain any five steps in the selection process.
Directing
Covers the four elements of directing: supervision, motivation, leadership, and communication. Maslow's hierarchy, Theory X and Y, leadership styles, and communication barriers are frequently asked topics.
Key Topics
Important Questions
Explain Maslow's hierarchy of needs. How can it be used to motivate employees at different levels?
What is the difference between formal and informal communication? What are the types of informal communication (grapevine)?
Controlling
Covers the meaning, importance, and process of controlling. The relationship between planning and controlling is a key conceptual question. Techniques of controlling are also included.
Key Topics
Important Questions
Explain the process of controlling. How does it relate to planning?
What is Management by Objectives (MBO)? State its advantages.
Financial Management
Covers objectives of financial management, financial decisions (investment, financing, dividend), capital structure, and factors affecting working capital and fixed capital requirements.
Key Topics
Important Questions
What is 'trading on equity'? Explain with an example.
Explain the factors affecting the working capital requirements of a firm.
Financial Markets
Covers the money market (instruments: call money, treasury bills, commercial paper, CDs) and capital market (primary and secondary). The functions of the stock exchange and SEBI are key topics.
Key Topics
Important Questions
Explain the functions of a stock exchange.
What are the objectives of SEBI? Describe its regulatory, developmental, and protective functions.
Marketing Management
Covers the marketing mix (4 Ps: Product, Price, Place, Promotion), the distinction between selling and marketing concepts, branding, channels of distribution, and promotional tools.
Key Topics
Important Questions
Explain the four elements of the marketing mix with examples.
Distinguish between the selling concept and the marketing concept.