2Nd Puc Business Studies Notes Series Of Managerial

Typically, there are three levels of management in any organization: Top Level Management: This level comprises the Board of Directors, Chief Executives, Chief Operating Officers and many more.

Here, on this page, the highlights of the chapter are covered.

These facts and important questions provide an in-depth analysis of the chapter in a very unique way.

The important questions of the chapter will prove very beneficial for the students.

The expert teachers from Vedantu have developed the important questions of Business Studies Class 12 as per the latest syllabus NCERT (CBSE).

All the questions in the sample paper along with their solutions are developed in a very easy and precise way.

Nature and Significance of Management Following are some highlights of Chapter 1 of Class 12 Business Studies that quickly gives you a summary of the chapter.

Management: It is the process of strategizing, designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish a common goal.

It is the process of planning, organizing, actuating and controlling the organizations operations and activities, effectively and efficiently.

There are two concepts of Management: Traditional Concept and Management Concept.

Characteristics of Management Management is a Goal-oriented Process.

Group Activity. Dynamic Function.

Intangible Force.

Objectives of Management Organizational Objectives: Management is expected to work for the benefit of all stakeholders for the achievement of goals.

Social Objectives: Social objectives deal with the commitment of an organization towards society.

Personal Objectives: Personal Objectives are linked with fulfilling the personal needs of the employees.

Importance of Management Management helps in achieving group goals by giving proper direction to the efforts of all individuals.

Management increases efficiency by making optimum utilization of all resources such as labour, money and material.

Management creates a dynamic organization by helping people to adapt to these changes so that an organization is able to maintain its competitive edge.

Management helps in achieving personal objectives through motivation like good salary, peer recognition, profit sharing, etc.

Management helps in the development of the society by providing employment, good quality products at a reasonable price, establishing schools, hospitals and creches.

Nature of Management Management can be described as an art, science or a profession.

Management can be described as a science because like science there is a systematized body of knowledge in management consisting of theories, principles and concepts.

Management can also be considered as a profession because management has a well-defined body of knowledge.

2Nd Puc Business Studies Notes Series Of Managerial

Levels of Management Levels of Management is a series of managerial positions from top to bottom in an organization.