List of top Business Studies Questions on Principles of Management

Two ambitious friends, Sana and Mihir, having passion for creating innovative software applications, established a tech startup named ‘Quick Solutions’. Their software was developed in such a way that it caters to the needs of all sections. Since its inception, ‘Quick Solutions’ was earning enough revenue to cover the costs. They faced countless challenges from competing with large and well-established companies. But they learned from their mistakes and continuously improved their product. Slowly, their software gained recognition for its quality and uniqueness and the company started making profits. It was a big incentive for Sana and Mihir for the continued successful operation of the enterprise. Within two years, the customer base increased manifold. Now, Sana and Mihir decided to make additional capital investment and hired more employees. They invested in research and development and expanded their product line to meet emerging market demands. ‘Quick Solutions’ ultimately became the industry leader because of the tireless efforts of Sana and Mihir.

Quoting lines, identify and state the objectives of management discussed in the above case which ‘Quick Solutions’ seeks to achieve.

‘Panmol Dairy’ started using environment-friendly ‘Bilona’ method of making ghee, unlike other dairies which were using modern methods involving machines and chemicals. By doing this, ‘Panmol Dairy’ is providing employment to hundreds of illiterate people in the rural areas. Which objective of management is ‘Panmol Dairy’ trying to achieve:

Match the Levels of Management given in Column I with the functions performed at each level given in Column II:

Column I	Column II
1. Top Level Management	(i) They directly oversee the efforts of the workforce.
2. Middle Level Management	(ii) They ensure that their department has the necessary personnel.
3. Operational Management	(iii) They are responsible for the welfare and survival of the organisation.

Choose the correct option:

Most of the organizations these days have adapted themselves to changing environment. To reach and engage with the target customers, they started to have a strong presence on social media like Facebook, Instagram, etc. From the following, identify the feature of management being highlighted:

‘Bonfast Cement Ltd.’ supports 7 villages with housing facilities, schools, safe drinking water, health and hygiene. The company sends its employees to visit a nearby village every 15 days to provide support and to see whether the facilities provided are being implemented on ground. The objective which ‘Bonfast Cement Ltd.’ is trying to achieve is :

Explain the following principles of management: (i) Unity of direction (ii) Remuneration to employees (iii) Equity

Explain the following points of significance of principles of management:
(i) Providing managers with useful insights into reality
(ii) Meeting changing environment requirements
(iii) Scientific decisions

(a) Explain the following characteristics of principles of management :
(i) Universal applicability
(ii) Formed by practice and experimentation
(iii) Contingent
OR
(b) Explain the following principles of management :
(i) Division of work
(ii) Order
(iii) Unity of command

(a) Explain the following characteristics of Principles of Management:
(i) General guidelines
(ii) Flexible
(iii) Cause and effect relationship
OR
(b) Explain the following techniques of Scientific Management:
(i) Method Study
(ii) Differential Piece Wage System
(iii) Fatigue Study

The activities involved in managing the enterprise are common to all organisations whether economic, political or social. Identify the feature of management :

Which of the following is the function of Top level management ?

_______ means doing the task correctly and with minimum cost.

'Vanguard Inc.', a company manufacturing footwear for men, women and children has been earning consistent profits for the last many years. It has a democratic style of working. Workers are encouraged to develop and carry out plans for improvement in the organisation. Varun who is working in the production department gave a suggestion which resulted in 10% reduction in the cost of production of shoes. He was rewarded for his suggestion. Identify the principle of management followed by 'Vanguard Inc.' in the above case: