Tuesday, November 26, 2024

Unit 1 Business studies: Nature and Significance of Management, HS 2nd year Commerce

 

Management (ব্যবস্থাপনা)

Concept (ধারণা)

Management is the process of planning (পরিকল্পনা করা), organising (সংগঠিত করা), staffing (কর্মী নিয়োগ), directing (নির্দেশনা দেওয়া) and controlling (নিয়ন্ত্রণ করা) the enterprise resources efficiently (দক্ষভাবে) and effectively (কার্যকরভাবে) for achieving the goals of the organisation. Effectiveness (কার্যকারিতা) in management is concerned with doing the right task (সঠিক কাজ করা), completing activities and achieving goals. Efficiency (দক্ষতা) means doing the task correctly (সঠিকভাবে) and with minimum cost (ন্যূনতম ব্যয়ে)।

Characteristics (বৈশিষ্ট্যসমূহ)

The key features of management are:
(i) Goal-oriented process (লক্ষ্যভিত্তিক প্রক্রিয়া)
(ii) All-pervasive (সর্বব্যাপী)
(iii) Multidimensional (বহুমাত্রিক)
(iv) Continuous process (অবিরত প্রক্রিয়া)
(v) Group activity (গোষ্ঠী কার্যক্রম)
(vi) Dynamic function (গতিশীল কার্যাবলি)
(vii) Tangible force (স্পষ্ট ও দৃশ্যমান শক্তি)

Objectives (উদ্দেশ্যসমূহ)

Management fulfills three basic objectives:

  1. Organisational objectives (প্রতিষ্ঠানের উদ্দেশ্য)

  2. Social objectives (সামাজিক উদ্দেশ্য)

  3. Personal objectives (ব্যক্তিগত উদ্দেশ্য)

Importance (গুরুত্ব)

Management is important because:

  • It helps in achieving group goals (দলীয় লক্ষ্য অর্জনে সাহায্য করে)।

  • It increases efficiency (দক্ষতা বৃদ্ধি করে)।

  • It creates a dynamic organisation (একটি গতিশীল প্রতিষ্ঠান তৈরি করে)।

  • It helps achieve personal objectives (ব্যক্তিগত লক্ষ্য অর্জনে সহায়তা করে)।

  • It contributes to the development of society (সমাজের উন্নয়নে অবদান রাখে)।

Nature (প্রকৃতি)

Management is a combination of an organised body of knowledge (সংগঠিত জ্ঞানভিত্তিক বিষয়) (science – বিজ্ঞান) and its skillful application (কুশল প্রয়োগ) (art – শিল্পকলার মতো)। Although it does not satisfy all the requirements of a profession, it is to a large extent professional in character (অনেকাংশে পেশাদারী বৈশিষ্ট্যসম্পন্ন)।

Levels (পর্যায়সমূহ)

Management is considered a three-tier activity (তিন স্তর বিশিষ্ট কার্যক্রম)।

  1. Top management (শীর্ষ ব্যবস্থাপনা) – Focuses on determination of objectives and policies (লক্ষ্য ও নীতিমালা নির্ধারণ করে)।

  2. Middle management (মধ্য ব্যবস্থাপনা) – Attempts to achieve these objectives (এই লক্ষ্য অর্জনের প্রচেষ্টা চালায়) through the efforts of other managers.

  3. Supervisory or operational management (তদারকি বা কার্যকরী ব্যবস্থাপনা) – Directly oversees the efforts of the workforce (শ্রমিকদের প্রচেষ্টার তদারকি করে)।

Functions (কার্যাবলি)

All managers perform the following interrelated functions (পারস্পরিক সম্পর্কযুক্ত কার্যাবলি):

  1. Planning (পরিকল্পনা করা)

  2. Organising (সংগঠিত করা)

  3. Staffing (কর্মী নিয়োগ করা)

  4. Directing (নির্দেশনা দেওয়া)

  5. Controlling (নিয়ন্ত্রণ করা)

Coordination (সমন্বয়)

Coordination (সমন্বয়) is the essence of management (ব্যবস্থাপনার মূল বিষয়)। It is the process of achieving unity of action (কার্যসম্পাদনের ঐক্যতা) among interdependent activities and departments (পারস্পরিক নির্ভরশীল কার্যক্রম ও বিভাগসমূহ) of an organisation.


Short Question and Answer

  1. What is management?
    Ans: Management is the process of planning, organising, staffing, directing, and controlling enterprise resources efficiently and effectively to achieve organisational goals.

  2. What is the difference between effectiveness and efficiency in management?
    Ans: Effectiveness is about doing the right task and achieving goals, while efficiency means completing tasks correctly with minimum cost.

  3. What are the key characteristics of management?
    Ans: Management is (i) goal-oriented, (ii) all-pervasive, (iii) multidimensional, (iv) continuous, (v) a group activity, (vi) dynamic, and (vii) a tangible force.

  4. What are the three basic objectives of management?
    Ans: The three objectives are (i) organisational objectives, (ii) social objectives, and (iii) personal objectives.

  5. Why is management important?
    Ans: Management is important because it helps in achieving group goals, increases efficiency, creates a dynamic organisation, helps achieve personal objectives, and contributes to societal development.

  6. Is management a science, an art, or a profession?
    Ans: Management is both a science (an organised body of knowledge) and an art (its skillful application). While it does not fully qualify as a profession, it has professional characteristics.

  7. What are the three levels of management?
    Ans: The three levels of management are (i) top management, (ii) middle management, and (iii) operational or supervisory management.

  8. What are the five main functions of management?
    Ans: The five functions are (i) Planning, (ii) Organising, (iii) Staffing, (iv) Directing, and (v) Controlling.

  9. Why is coordination considered the essence of management?
    Ans: Coordination ensures unity of action among interdependent activities and departments, making management effective.

  10. What is the role of top management in an organisation?
    Ans: Top management determines objectives and policies for the organisation.

  11. How does middle management contribute to an organisation?
    Ans: Middle management implements objectives by guiding and coordinating the efforts of lower managers.

  12. What is the role of operational management?
    Ans: Operational management directly oversees the workforce and ensures daily operations run smoothly.



Section 1: Basics of Management

  1. Which of the following best defines management?
    a) The art of getting things done through others.
    b) A system of rules for governing an organization.
    c) The process of planning, organizing, staffing, directing, and controlling.
    d) A tool for business administration.
    Answer: c)

  2. Who among the following defined management as "the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims"?
    a) Robert L. Trewelly and M. Gene Newport
    b) Harold Koontz and Heinz Weihrich
    c) Kreitner
    d) F.W. Taylor
    Answer: b)

  3. What does "effectiveness" in management refer to?
    a) Minimizing resource use.
    b) Finishing the task on time.
    c) Achieving goals with minimal cost.
    d) Achieving organizational goals efficiently.
    Answer: b)

  4. Which of the following is NOT an input resource in management?
    a) Capital
    b) Time
    c) Goals
    d) Materials
    Answer: c)

  5. Management is required in which type of organizations?
    a) Profit-based organizations only
    b) Manufacturing organizations only
    c) Both business and non-business organizations
    d) Service-based organizations only
    Answer: c)


Section 2: Characteristics of Management

  1. What is the primary characteristic of management?
    a) Profit-oriented process
    b) Goal-oriented process
    c) Individual-oriented process
    d) Static function
    Answer: b)

  2. Management as a group activity implies:
    a) Individuals can achieve their goals independently.
    b) Management is performed in isolation.
    c) Diverse individuals work together to achieve organizational goals.
    d) Management is only for large organizations.
    Answer: c)

  3. Management is considered a dynamic function because it:
    a) Stays the same irrespective of changes in the environment.
    b) Adapts to changing social, economic, and political factors.
    c) Operates only within a fixed framework.
    d) Depends on static principles.
    Answer: b)

  4. What is an example of management being an intangible force?
    a) Visible orderliness in the organization
    b) Construction of a building
    c) Written plans and policies
    d) Physical assets
    Answer: a)

  5. Which of the following organizations require management?
    a) A public school
    b) A multinational corporation
    c) A government hospital
    d) All of the above
    Answer: d)


Section 3: Objectives of Management

  1. Which of the following is NOT an organizational objective of management?
    a) Survival
    b) Profit
    c) Growth
    d) Personal satisfaction
    Answer: d)

  2. The primary social objective of management is to:
    a) Maximize employee salaries.
    b) Create societal benefits like employment and welfare.
    c) Generate maximum profit.
    d) Satisfy shareholders only.
    Answer: b)

  3. Personal objectives in management focus on:
    a) Maximizing profits.
    b) Satisfying the diverse needs of employees.
    c) Enhancing operational efficiency.
    d) Reducing operational costs.
    Answer: b)

  4. Which is an example of growth as an organizational objective?
    a) Increased profits
    b) Rising number of employees
    c) Expanding sales volume
    d) All of the above
    Answer: d)

  5. Providing employment to underprivileged sections of society is an example of:
    a) Organizational objectives
    b) Personal objectives
    c) Social objectives
    d) Professional objectives
    Answer: c)

Section 4: Functions of Management

  1. Which of the following is NOT a function of management?
    a) Planning
    b) Organizing
    c) Staffing
    d) Competing
    Answer: d)

  2. What is the first step in the management process?
    a) Directing
    b) Controlling
    c) Planning
    d) Staffing
    Answer: c)

  3. What does organizing involve in management?
    a) Motivating employees to achieve targets.
    b) Assigning duties and resources to carry out plans.
    c) Monitoring performance against goals.
    d) Developing future strategies.
    Answer: b)

  4. Directing as a function of management primarily includes:
    a) Recruiting the right people.
    b) Supervising and motivating employees.
    c) Establishing organizational goals.
    d) Analyzing market trends.
    Answer: b)

  5. Which function of management is described as “monitoring performance to ensure goals are achieved”?
    a) Controlling
    b) Planning
    c) Staffing
    d) Organizing
    Answer: a)

  6. In staffing, which of the following is NOT a key activity?
    a) Selection
    b) Recruitment
    c) Controlling
    d) Placement
    Answer: c)

  7. Which function of management involves setting goals and deciding how to achieve them?
    a) Planning
    b) Organizing
    c) Directing
    d) Staffing
    Answer: a)

  8. What is the final step in the management process?
    a) Staffing
    b) Organizing
    c) Directing
    d) Controlling
    Answer: d)


Section 5: Levels of Management

  1. Who is responsible for the formulation of policies and strategies in an organization?
    a) Top-level management
    b) Middle-level management
    c) Operational management
    d) Supervisory management
    Answer: a)

  2. Which level of management serves as a link between top management and operational management?
    a) Supervisory management
    b) Middle-level management
    c) Top-level management
    d) None of the above
    Answer: b)

  3. What is the main responsibility of supervisory or operational management?
    a) Setting long-term goals
    b) Supervising the workforce and daily operations
    c) Developing strategies for growth
    d) Managing inter-departmental conflicts
    Answer: b)

  4. Middle-level management is responsible for:
    a) Defining organizational goals.
    b) Linking top management’s strategies to the workforce’s efforts.
    c) Managing relationships with external stakeholders.
    d) None of the above.
    Answer: b)

  5. Who among the following belongs to the top management?
    a) Supervisor
    b) Production manager
    c) Chief executive officer (CEO)
    d) Team leader
    Answer: c)


Section 6: Coordination

  1. Coordination is referred to as the "essence of management" because:
    a) It is not a separate function but integrates all functions.
    b) It only occurs at the operational level.
    c) It is optional for small organizations.
    d) It deals only with conflict resolution.
    Answer: a)

  2. Coordination ensures:
    a) Individual goals are prioritized over organizational goals.
    b) Unity of action among interdependent departments.
    c) Conflicts remain unresolved in organizations.
    d) Reduced team efforts.
    Answer: b)

  3. Which of the following is NOT a characteristic of coordination?
    a) Continuous process
    b) Universal function
    c) Deliberate function
    d) Non-essential activity
    Answer: d)

  4. Which of the following statements about coordination is true?
    a) It is required only in large organizations.
    b) It starts at the controlling stage.
    c) It integrates the efforts of various individuals and departments.
    d) It is the responsibility of only the top management.
    Answer: c)

  5. Coordination ensures that:
    a) Organizational resources are misallocated.
    b) Efforts are duplicated.
    c) Group efforts are unified towards common goals.
    d) Employees work in isolation.
    Answer: c)

  6. Which of the following is an example of lack of coordination?
    a) Sales department running a discount campaign without consulting finance.
    b) Regular communication between teams.
    c) Proper delegation of tasks.
    d) Employees working together on a project.
    Answer: a)

Section 7: Management as an Art, Science, and Profession

  1. Which of the following is NOT a feature of management as an art?
    a) Theoretical knowledge
    b) Personalized application
    c) Based on practice and creativity
    d) Universal validity
    Answer: d)

  2. Management as a science includes:
    a) Universal principles
    b) Creative application
    c) Focus on employee relationships
    d) Ethical practices
    Answer: a)

  3. Which is NOT a characteristic of management as a profession?
    a) Well-defined body of knowledge
    b) Service motive
    c) Restricted entry through certification
    d) Creative application of skills
    Answer: d)

  4. Which of the following supports the idea of management being an art?
    a) It is based on systematic principles.
    b) It involves creativity and personal skill.
    c) It is universally applicable.
    d) It is focused only on economic outcomes.
    Answer: b)

  5. Management is considered an inexact science because:
    a) It deals with unpredictable human behavior.
    b) It lacks systematic knowledge.
    c) It is entirely based on intuition.
    d) It does not involve any experimentation.
    Answer: a)

  6. Which of the following is an example of management as a profession?
    a) Requirement of specific qualifications to be a manager.
    b) A manager creating a unique work strategy for their team.
    c) Existence of professional associations like AIMA.
    d) Using scientific principles to maximize profits.
    Answer: c)

  7. What differentiates management as an art from management as a science?
    a) Art involves intuition and experience, while science focuses on systematic study.
    b) Art is universal, while science varies.
    c) Art emphasizes planning, while science emphasizes execution.
    d) Art has universally valid laws, while science does not.
    Answer: a)

  8. Which of these professions has restricted entry like a profession but is NOT mandatory in management?
    a) Medicine
    b) Law
    c) Chartered Accountancy
    d) Management
    Answer: d)


Section 8: Objectives of Management

  1. The survival objective of management ensures:
    a) Short-term existence
    b) Sustained revenue generation to cover costs
    c) Achieving maximum growth
    d) Consistent profit maximization
    Answer: b)

  2. The personal objectives of management focus on:
    a) Satisfying shareholders
    b) Meeting the needs of employees
    c) Reducing operational inefficiencies
    d) Serving the society
    Answer: b)

  3. Which of the following is a social objective of management?
    a) Offering employee bonuses
    b) Adopting eco-friendly production methods
    c) Expanding into international markets
    d) Launching cost-effective products
    Answer: b)

  4. Profit maximization in management is:
    a) The only focus of modern organizations.
    b) A primary economic objective.
    c) Equivalent to long-term growth.
    d) Unrelated to stakeholder interests.
    Answer: b)

  5. Which indicator is commonly used to measure organizational growth?
    a) Customer satisfaction
    b) Number of employees
    c) Marketing campaigns
    d) Reduced operational costs
    Answer: b)

  6. Which objective involves achieving harmony between personal and organizational goals?
    a) Organizational objectives
    b) Personal objectives
    c) Social objectives
    d) Operational objectives
    Answer: b)

  7. What role does management play in achieving societal objectives?
    a) Reducing costs to increase profits
    b) Ensuring stakeholders’ satisfaction
    c) Fulfilling social responsibilities like education and welfare
    d) Aligning individual goals with organizational objectives
    Answer: c)

  8. Which of the following is NOT an objective of management?
    a) Economic objectives
    b) Political objectives
    c) Social objectives
    d) Individual objectives
    Answer: b)


Section 9: Importance of Management

  1. Management increases organizational efficiency by:
    a) Adopting cost-reducing strategies
    b) Motivating individual efforts over group goals
    c) Eliminating planning processes
    d) Avoiding operational control measures
    Answer: a)

  2. Management creates a dynamic organization by:
    a) Preventing resistance to change.
    b) Encouraging the status quo.
    c) Adapting to environmental changes.
    d) Eliminating diverse employee behaviors.
    Answer: c)

  3. Management contributes to the development of society by:
    a) Maximizing profits at all costs.
    b) Offering high salaries to employees.
    c) Providing quality goods and services.
    d) Reducing the workforce.
    Answer: c)

  4. Which of the following shows the importance of management in achieving personal objectives?
    a) Aligning personal goals with team goals.
    b) Controlling costs in operations.
    c) Reducing conflicts in departments.
    d) Streamlining production processes.
    Answer: a)

  5. The success of a business depends on management's ability to:
    a) Focus solely on profits.
    b) Prioritize one function over others.
    c) Balance efficiency and effectiveness.
    d) Ignore social obligations.
    Answer: c)

Section 10: Coordination

  1. Which of the following statements is true about coordination?
    a) It is a separate function of management.
    b) It is only required at the operational level.
    c) It ensures unity of action and integration of efforts.
    d) It focuses only on conflict resolution.
    Answer: c)

  2. Coordination begins at which stage of management?
    a) Planning
    b) Organizing
    c) Directing
    d) Controlling
    Answer: a)

  3. Coordination is essential because:
    a) It reduces organizational goals.
    b) Departments work independently without conflicts.
    c) It harmonizes efforts towards achieving common goals.
    d) It focuses only on interdepartmental communication.
    Answer: c)

  4. Which of the following is NOT a characteristic of coordination?
    a) Continuous process
    b) Deliberate function
    c) Limited to middle management
    d) Pervasive function
    Answer: c)

  5. The coordination process involves:
    a) Creating independent department goals.
    b) Ensuring harmony between individual and organizational objectives.
    c) Encouraging isolated decision-making.
    d) Limiting interactions across teams.
    Answer: b)

  6. An example of effective coordination is:
    a) Sales and production teams aligning their schedules.
    b) Conflicts between marketing and finance departments.
    c) Teams working without a common goal.
    d) Employees working independently without guidance.
    Answer: a)

  7. Which of the following demonstrates poor coordination?
    a) Efficient resource utilization
    b) Delayed project deadlines due to miscommunication
    c) Collaboration between departments
    d) Clear communication of goals and objectives
    Answer: b)


Section 11: Characteristics of Management

  1. Management as a goal-oriented process means:
    a) Achieving organizational goals with minimal effort.
    b) Managing employees without considering outcomes.
    c) Guiding group efforts towards common objectives.
    d) Managing resources for individual benefits.
    Answer: c)

  2. Which of the following best describes management as an intangible force?
    a) It can be felt through organizational efficiency.
    b) It is visible in employee salaries.
    c) It operates without impacting organizational goals.
    d) It refers to documented rules and policies.
    Answer: a)

  3. Management is all-pervasive, meaning:
    a) It applies to all organizations regardless of type or size.
    b) It is limited to economic activities.
    c) It varies widely between different countries.
    d) It is focused only on large-scale enterprises.
    Answer: a)

  4. Which characteristic of management is demonstrated by ongoing activities like planning, directing, and controlling?
    a) Goal-oriented
    b) Continuous process
    c) Multidimensional
    d) Intangible force
    Answer: b)

  5. Multidimensional management includes management of:
    a) Resources, departments, and external relations.
    b) Work, people, and operations.
    c) Goals, policies, and profits.
    d) Production, marketing, and sales.
    Answer: b)

  6. Which characteristic ensures that management integrates diverse efforts towards a unified goal?
    a) Dynamic function
    b) Coordination
    c) Efficiency
    d) Goal orientation
    Answer: b)

  7. The ability of management to adapt to changing environments shows its:
    a) Multidimensional nature
    b) Intangible force
    c) Dynamic nature
    d) Group activity
    Answer: c)


Section 12: Case Studies and Applications

  1. In the case study of Smita Rai’s Namchi Designer Candles, which management function was demonstrated when she planned for the Diwali collection?
    a) Organizing
    b) Staffing
    c) Planning
    d) Controlling
    Answer: c)

  2. What role did Abhishek Lama, the NEDFI branch manager, play in supporting Smita Rai’s initiative?
    a) Provided financial resources and skill development support.
    b) Organized production facilities for the candles.
    c) Managed marketing strategies for her venture.
    d) Controlled the distribution of her products.
    Answer: a)

  3. What key social objective did Smita Rai fulfill through Namchi Designer Candles?
    a) Increasing profits through customized candles.
    b) Providing employment to rural women.
    c) Expanding into urban markets.
    d) Minimizing production costs.
    Answer: b)

  4. Which characteristic of coordination was demonstrated by the Dabbawallas of Mumbai?
    a) Deliberate function
    b) Continuous process
    c) Ensuring unity of action
    d) Intangible force
    Answer: c)

  5. The success of the Dabbawallas highlights which management principle?
    a) Efficiency through minimal resource use
    b) Rigid hierarchy in operations
    c) Dependence on technology for processes
    d) Independent decision-making by employees
    Answer: a)

  6. In the Tata Steel case study, what was a key management principle applied by Jamsetji Tata?
    a) Focus on short-term profits over employee satisfaction
    b) Prioritizing innovation and long-term growth
    c) Ignoring social responsibilities for industrial development
    d) Minimizing employee benefits
    Answer: b)

  7. Which organizational objective is demonstrated by Tata Steel's efforts to balance economic prosperity with environmental responsibility?
    a) Personal objectives
    b) Social objectives
    c) Economic objectives
    d) Strategic objectives
    Answer: b)

Section 13: Advanced Concepts in Management

  1. Which of the following best explains the term "effectiveness" in management?
    a) Achieving goals regardless of resource usage.
    b) Completing tasks at the lowest possible cost.
    c) Doing the right task to achieve desired results.
    d) Maximizing profits by reducing inefficiency.
    Answer: c)

  2. Efficiency in management is concerned with:
    a) Completing the task regardless of resources used.
    b) Balancing effectiveness and profit.
    c) Maximizing outputs with minimum inputs.
    d) Producing goods without considering market demand.
    Answer: c)

  3. Which of the following situations demonstrates effectiveness but not efficiency?
    a) Producing 5,000 units within budget but failing quality standards.
    b) Achieving production targets with high production costs.
    c) Completing a project on time with optimal resource usage.
    d) Reducing costs while missing project deadlines.
    Answer: b)

  4. Which feature of management involves adapting to external changes like technology or market trends?
    a) Intangible force
    b) Goal-oriented process
    c) Dynamic function
    d) Group activity
    Answer: c)

  5. Management as a science is considered inexact because:
    a) It deals with unpredictable human behavior.
    b) It lacks theoretical frameworks.
    c) It applies principles uniformly across all organizations.
    d) Its principles are not tested through experiments.
    Answer: a)

  6. Which aspect of management is described as "the personal application of knowledge to achieve desired results"?
    a) Science
    b) Art
    c) Profession
    d) Strategy
    Answer: b)

  7. What is the primary reason for requiring coordination in modern organizations?
    a) Reduced size of departments
    b) Increased specialization and interdependence of functions
    c) Elimination of individual responsibilities
    d) Strict organizational hierarchies
    Answer: b)

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