BUSINESS STUDIES
XII (2023-24)
PART -1
VIDEO
NOTES
MANAGEMENT
is an art of getting things
done through others.
1.Goal oriented process
2. Continuous process
3. Group activity
4. Intangible
5. Dynamic
6. Pervasive
7. Multi-dimensional
a)management of work
b)management of people
c)management of operations
1.GOAL ORIENTED PROCESS
Management is a goal oriented process.
The aim of the whole management is to achieve
the organisational goal. plans are made to
achieve that goal effectively and efficiently
2 . CONTINUOUS PROCESS
Management is a Continuous process:-
It is a continuous or never ending process. All the
functions of management are performed
continuously. Once the objective is complete then
they plan to achieve another goal
3 . GROUP ACTIVITY
Management is a Group activity:-
Management always refers to a group of people.
Group effort is required to achieve the goal. It
replace “I” wit ‘We” all the functions of management
can not be performed by an individual.
4. INTANGIBLE
Management is Intangible:-
Management can not be seen but its presence can be felt.
It is more easy to feel the presence of
mis management as it leads to chaos and confusion.
5. DYNAMIC
Management is a Dynamic function:-
Management has to make changes in their internal
environment as per external environment. Such as
social, economical, legal, political & technological
environment has great impact on our business
6. PERVASIVE
Management is pervasive:-
Management is a universal phenomenon.
Management is essential for all types of organisation.
A big or small, Profit or non profit making,
manufacturing or service, school or hospital, play
ground or house, everywhere it requires.
MULTI-DIMENSIONAL
WORK
Management is a multi- dimensional:-
a)Management of work:- Management must focus on
their work only. work depends upon the nature of
business. Work of a school is provide education and
a hospital is to treat patient. So schoolmanagement
must focus on providing quality education not to
treat patient.
i) Planning
ii) Organsing
iii) Controlling
PEOPLE
b) Management of people:-
People refers to human resources they are the most
important assets of an organisation. Management
must take care of individual employees needs and
group needs also. They goal of an organisation can
be achieved only with the support of Human
Resources.
a) Staffing
b) Directing
OPERATION
c) Management of Operation:- It refers to all the
activities of operating cycle.
It mixes management of work with management of
people. It includes buying of inputs, converting them
into semi-finished goods, finished goods, maintain
inventory, etc.
a) Production
b) Sales
c) Purchases
WORK PEOPLE OPERATION
i) Planning i)Production
i)Staffing
ii) Organising ii) Sales
ii) Directing
iii) Controlling iii) Purchases
ORGANISATIONAL OBJECTIVE
Objectives are the end result of an activity.
a)Organisational objective:- These objective
related to growth and development of
organisation. All the manager try to reduce the
cost and brings maximum profits in the
organisation.These are
i)Survival:- It is the basic objective of every
organisation that they want to stay in this
competitive market for a long period of time
satisfying consumers.
ii)Profits:- Only survival is not sufficient,
organisation also wants profits to run business
smoothly generation profits helps businessmen
to take risk. Profits are also essential for
survival, growth and expansion
iii)Growth:- Growth means expand their
business activities the success of a business is
also determined by growth and development of
business.
SOCIAL OBJECTIVE
b) Social objective:- These objectives area related to
the development of human being and society as part
of society a businessman must do the following for
society.
i)Supply of quality product at reasonable price
ii)Generation of employment opportunities for weaker
section of the society
iii)Using environmental friendly
methods of production
iv) Participating in social activity
v) Ethical code of conduct
PERSONAL OBJECTIVE
c) Personal objective:- As we all that employees are
the most important assets of an organization so
taking care of employee is an objective these are
follow:
i)Competitive salary to fulfill financial needs of the
employees
ii)Respect and recognition
iii)Healthy working condition
iv)Growth and development of workers
BUSINESS STUDIES
XII (2023-24)
PART -2
VIDEO
NOTES
Successful organisation do not achieve their goals by chance
but by following a deliberate process called management
A businessman reaches to the top because of its quality of
management
1) Achieving organizational goal:- The main aim of
management is to achieve the organizational goal.
With the help of its functions management tries to
achieve its goal efficiently and effectively.
2) Help in achieving personal and group goal:-
Managers integrate individual efforts into group
efforts with the help of personal objectives
management, each individual gets competitive salary,
respect and career advancement opportunity.
3) Management creates a dynamic organization:-
Managers are trying to make changes in internal
environment as per external environment. They
motivate employees provide them training so that they
can adopt changes in the environment.
4) Increases co-ordination:- Management ensures that
different departments and group work in co-ordination
therefore, there is unity of action among employees
groups and departments.
5) Management helps in development of society:-
Through its social objectives management develops
the society by providing quality products at
reasonable price and environment friendly products
helps to protect environment
MANAGEMENT
AS A SCIENCE
Management as a Science
Science can be defined as a systematic body of
knowledge based on facts. Main features of
science are as follows:
i)Systematic body of knowledge:- In science
systematic study material is available which is
used to acquire the knowledge of science. The
same features is present in management.
ii)Based on repeated experiment:- Scientific
principles are developed by doing multiple
experiments. Management principles are also
observed multiple times and human behavior is
predicted. So this features is present in
management.
iii)Universal validity:- Scientific principles have
universal validity. It means once the principle is
developed it is applicable forever. But
management principles are not universal it
depends upon the situation types of people etc so
this features of science is not present in
management.
MANAGEMENT
AS AN ART
Art can be defined as systematic body of
knowledge which requires creativity and practice
to get perfection
Main features of art are as follow.
i)Systematic body of knowledge:- In arts
systematic study material is available to acquire
theoretical knowledge. This feature is present in
management.
ii)Personalized application:- In arts only theoretical
knowledge Is not enough. Every artist must have
personal skills and creativity to apply that
knowledge in the same manner management
requires personalized application of management
principles on different situation and on different
kinds of people so this feature is also present in
management.
iii)Based on practice and creativity:- An artist has
to do regular practice to become perfect. As we all
know art is only interesting when it make some
creativity similarly in management it requires
practice and creativity so this features of Art
present in management.
MANAGEMENT AS
A PROFESSION
Profession can be defined as an occupation
backed by specialized knowledge and training in
which entry is restricted.
Main feature of profession are as follow:
i)Systematic body of knowledge:- in profession
study material is available to acquire specialised
knowledge this feature is also present in
management.
ii)Restricted entry:- Without a professional degree
no one can enter into profession e.g. a person can
practice CA only when he is having CA qualified
degree. But in management any one can be a
manager having proper management skills so this
features is not present in management.
iii)Service motive:- Every professional motive is to
serve their clients profit is not the primary
objective but in case of management this features
is not present.
iv)Presence of professional association:- Every
professionals has to get registered with his
association before practicing that profession. e.g.
for doctors medical council of india, for lawyers
Bar council of India, for CA ICAI, etc. but this
feature is not present in management.
BUSINESS STUDIES
XII (2023-24)
PART -3
VIDEO
NOTES
TOP LEVEL
MIDDLE LEVEL
LOWER LEVEL
TOPLEVEL
TOP LEVEL
•Top level management decides the objective of
the organization
•Top level management formulates plans and
policies
•Top level management arrange all the resources
such as raw materials, finance and fixed assets
•Top level management is responsible for welfare
and survival of the organization
•Top level management connects with
government officials and outside the world
•Top level management organizing activities to
be performed by persons working at middle level
MIDDLE LEVEL
•Transfer Plan and Policies framed by top level
management to lower level management
TOP LEVEL
•Middle level management involves in Recruitment
of employees
•Motivating employees to perform their best ability
•Middle level management co-operate with other
departments for smooth functioning of the
organization.
LOWER LEVEL
•Representing the problems or grievances of
TOP LEVEL
workers before the middle level of management
•Maintaining good and healthy working conditions
for workers
•Helps to middle level management in Recruitment
process
•They are responsible for boosting morale of
employees
•Lower level management interact with the actual
work force and pass on instruction of middle level
management
PLANNING
ORGANISING
STAFFING
DIRECTING
CONTROLLING
BASIS EFFECTIVENESS EFFICIENCY
Meaning It refers to
It refers to
completion of task
completion of task
on minimum cost
on time
Orientation Cost oriented
Time oriented
Objective Reducing the cost
Achieve end result
Main Doing the task in
consideration Doing the right task right way
Note:- An organization must balance
between effectiveness and efficiency
BUSINESS STUDIES
XII (2023-24)
PART -4
VIDEO
NOTES
Coordination is the integration of the efforts of
group members so as to provide unity of action
to achieve organizational goal
A)It is Needed to perform all the functions of
management
B)It is required at all the levels
C)Coordination is the most important function of an
organisation
COORDINATION IS NEEDED TO PERFORM
ALL THE FUNCTIONS OF MANAGEMENT
To achieve the organizational goal there must be
co-ordination in the function of management i.e.
planning ,organizing, staffing, directing, controlling.
All the functions of management is interrelated to
each other misconception between any function of
management leads to chaos and confusion.
COORDINATION IS
REQUIRED AT EVERY LEVEL
Top level management requires to integrate all the
activities of organization. Middle level management
is a link pin between top and lower level so it
requires co-coordination to transfer plan and
policies to lower level management even lower level
management has to co-ordinate with employees.
CO-ORDINATION IS THE MOST
IMPORTANT FUNCTION
of an orgnisation without coordination an
organization can’t run successfully for a long
period of time all other functions will not work
properly in the absence of coordination
1.Coordination integrates group efforts:- These
various individuals working at different level of the
organization, coming from different background
having different sense of understanding with their
individual goal coordination helps to integrate the
group efforts to achievement of organizational goal.
2.Coordination is a continuous process:- Every
individual in the organization must follow the
coordination process continuously then only an
organization can successfully run
3.Coordination is a pervasive function:- similar to
management coordination is a universal phenomenon it
is required at every level and every function of
management coordination is required in profit as well
as non profit organization
4. Coordination is a deliberate function:- Every
manager tries to coordinate the activities of
organization to avoid chaos and confusion so
manager deliberate perform coordination function
5. Coordination is the responsibility of all managers:-
Coordination is the responsibility of every individual in
the organization it is not restricted up to top-level is
deliberately performed by each an every employee so
that there is no confusion in achievement of
organizational goal.
Growth in size:- Role of co-ordination increase when
size of the organization is large. In large
organization it is very difficult to take all the
employees with harmony towards a single direction
so co-ordination requires to bring unity in action.
Functional differentiation:- An organization has
many department or section performing different
functions all these functions are important for
achieving the overall goals of the organization
therefore coordination is essential for integrating
the functions
Specialization:- In an organization there are various
experts at various department and they feel that
they are only the qualified people and they always
take right decision if all expert work in their own
way it will result chaos and confusion so
coordination is required so that all expert or
specialized people moves towards a common goal
without any ego and confusion
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