Nature and Significance of Management
Odisha Board · Class 12 · Business Studies
Flashcards for Nature and Significance of Management — Odisha Board Class 12 Business Studies. Quick Q&A cards covering key concepts, definitions, and formulas.
Interactive on Super Tutor
Studying Nature and Significance of Management? Get the full interactive chapter.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for flashcards and more.
1,000+ Class 12 students started this chapter today
This is just one of 10+ visuals inside Super Tutor's Nature and Significance of Management chapter
Explore the full setDefine Management according to Harold Koontz and Heinz Weihrich.
Answer
Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims. It involves getting things done through pe…
What is the difference between Effectiveness and Efficiency in management?
Answer
Effectiveness means doing the right task and achieving goals (concerned with end results). Efficiency means doing the task correctly with minimum cost and resources (concerned with means). Example: A …
List the seven characteristics of Management.
Answer
1. Goal-oriented process 2. All pervasive 3. Multidimensional 4. Continuous process 5. Group activity 6. Dynamic function 7. Intangible force. Each characteristic highlights how management operates ac…
Explain the three dimensions of Management as a multidimensional activity.
Answer
1. Management of Work: Translating organizational goals into specific tasks, problems to solve, and plans to execute. 2. Management of People: Dealing with employees as individuals and as groups to ac…
What are the three main objectives of Management?
Answer
1. Organizational Objectives: Survival, Profit, and Growth of the organization. 2. Social Objectives: Creating benefits for society through environmentally friendly practices and community development…
Why is Management important? List five reasons.
Answer
1. Helps in achieving group goals by providing common direction 2. Increases efficiency by reducing costs and increasing productivity 3. Creates a dynamic organization that adapts to change 4. Helps a…
What are the three features that make Management an Art?
Answer
1. Existence of theoretical knowledge: Management has established principles and literature available for study. 2. Personalized application: Each manager applies principles uniquely based on their cr…
How does Management qualify as a Science? Give three features.
Answer
1. Systematized body of knowledge: Management has organized principles and theories developed over time. 2. Principles based on experimentation: Management principles evolved through repeated observat…
+12 more flashcards available
Practice AllFrequently Asked Questions
What are the important topics in Nature and Significance of Management for Odisha Board Class 12 Business Studies?
How to score full marks in Nature and Significance of Management — Odisha Board Class 12 Business Studies?
How many flashcards are available for Nature and Significance of Management?
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
More resources for Nature and Significance of Management
Important Questions
Practice with board exam-style questions
Syllabus
What topics to cover
Revision Notes
Key points for last-minute revision
Study Plan
Step-by-step plan to ace this chapter
Formula Sheet
All formulas in one place
Chapter Summary
Understand the chapter at a glance
Practice Quiz
Test yourself with a quick quiz
Concept Maps
See how topics connect visually
NCERT Solutions
Every textbook question solved step by step
For serious students
Get the full Nature and Significance of Management chapter — for free.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for Odisha Board Class 12 Business Studies.