CBSE Class 12 Business Studies — NCERT Solutions

Management is the process of getting things done with the aim of achieving goals effectively and efficiently.

Any two characteristics from the chapter are:

• Management is a goal-oriented process
• Management is all pervasive

Other characteristics are also acceptable if stated correctly.

Capital structure refers to the financing pattern of a business, i.e. the proportion of owners’ funds and borrowed funds used in raising money. It is often expressed as the debt-equity ratio or as the proportion of debt in total capital.

Financial planning has two main objectives:

1. To ensure availability of funds whenever required — the business should have funds at the right time for long-term assets and day-to-day expenses.
2. To see that the firm does not raise resources unnecessarily — excess funds increase cost and may remain idle, so only required funds should be raised.

The principles of management are not rigid; they can be modified by the manager when the situation demands. Hence, their nature is flexible.

The main objective of time study is to find the standard time required to complete a well-defined job. This helps in deciding the number of workers, fixing incentives, and estimating labour cost.

ब्रांडिंग के दो लाभ मार्केटर के लिए हैं:

• यह उत्पाद विभेदीकरण में मदद करती है, जिससे उत्पाद को प्रतिस्पर्धियों से अलग पहचाना जा सकता है।
• यह ग्राहक-निष्ठा बनाने और बिक्री बढ़ाने में मदद करती है।

The term business environment means the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but may affect its performance.

A business firm sets up a consumer grievance cell under the consumer’s Right to be heard, because this right gives the consumer the right to file a complaint and have the grievance heard and addressed.

Planning gives a clear direction to action because it states in advance how work is to be done. When objectives are clearly set, employees know what the organisation wants to achieve and what they must do. This helps different departments and individuals work in coordination towards the same goals.

The network of social relationships that arises spontaneously due to interaction at work is called informal organisation.

Staffing means putting people to jobs. It is the management function concerned with filling and keeping filled the positions in the organisation structure with the right people.

Communication that takes place without following the formal lines of communication is called informal communication. It is also known as the grapevine.

Controlling means ensuring that activities in an organisation are performed as per the plans. It also ensures that resources are used effectively and efficiently for achieving predetermined goals.