Therefore, the organization experiences an increase in productivity, easier integration of micro and macro level organizational dynamics, a better connection of roles among intra-organizational and inter-organizational groups as well as building trust among competing groups, and defi… i. It is in fact a process that involves the setting up of goals and objectives for the organisation and the determining the ways to achieve the desired goals. Process implies the functions of the management. On the other hand, middle level managers interpret these policies in terms of plans and objectives and works towards implementing them with the help of the operational management. ... CBSE > Class 12 > Business Studies 1 answers; Mayank Garg 1 year, 10 months ago. • If there is no coordination among the different functions of the management, the organisation cannot be achieved. Restriction to Entry: Management satisfies this criterion only to some extent. It binds the people of the organisation and their activities to ensure a smooth functioning of the work. Ans: Coordination is the essence of management. Policy formulation is the function of the top level managers. Save my name, email, and website in this browser for the next time I comment. Do you agree? Efficiency is said to increase if greater benefits are achieved using lesser resources or even if same benefits can be derived by cutting down on resources. Through effective and efficient management of the organisation, quality products and services are provided at reasonable prices. CBSE recommends NCERT books and most of the questions in CBSE exam are asked from NCERT text books. Through good management, the production takes place in an effective and efficient manner and quality goods and services are provided to the society at a fair price. (a) Planning: Planning implies deciding what work is to be done, who is to do it and how it is to be done. It deals with guiding and steering the people working in the office. Ans: Ritu being the manager of the northern division of the organisation is in the middle-level management. Planning, organising, directing, staffing and controlling are the five basic functions of management that the manager has to perform simultaneously. Managing the Work: The performance of a definite work forms the basis of an organisation. (c) Interdependence of Divisions: An organisation has various departments and sub-departments such as production, sales, finance, etc. Coordination is the function of management which ensures that different departments and groups work in sync. Thus, we can say that management is a multi-faceted process covering various dimensions simultaneously. 1. Yes, Coordination is indeed the essence of management. These ncert book chapter wise questions and answers are very helpful for CBSE board exam. The following are the characteristics of management as a profession: i. Systemised Knowledge: Management has a systemised and well-defined body of knowledge. Motivation includes setting up of right environment for the work. It is neither a function nor an objective of an organisation. To download NCERT Solutions for class 12 Physics, Chemistry, Biology, History, Political Science, Economics, Geography, Computer Science, Home Science, Accountancy, Business Studies and Home Science; do check myCBSEguide app or website. CBSE Class 12 Business Studies Case Studies – Nature and Significance of Management. You may need to download version 2.0 now from the Chrome Web Store. Restriction to Entry: Although no specific qualifications or degrees are required to be a manger, however, professional knowledge in terms of management degrees and diplomas are preferred. This may lead to diversion or conflict among various specialists in the organisation. (a) Systematic Body of Knowledge: Science has a specified body of knowledge which is based on cause and effect relationship. Human Relation: Coordination helps to improve team spirit and morale of employees. Thus, management can be defined as the process of planning, organising, staffing, directing and controlling such that the goals of the organisation are achieved successfully with minimum cost and resources. In management also we have a specific Code of Conduct but, it is not obligatory for the managers to abide by them. Nov 12,2020 - Coordination is the essence of management how.? 2)Organising: is ineffective there is lack of coordination between different departments and divisions. Continuous Process– Management is a continuous process. Ans: Management is said to be multi-faceted concept as it is a complex process involving not just one but various dimensions. Ans: The following are the two characteristics of management. In a similar manner, managers use the available theories and principles as per the situation in their own unique manner. Ncert solution class 12 Business studies includes text book solutions from both part 1 and part 2. Coordination is the essence of management. Define coordination in management; Discuss the features of coordination in management.,Explain the meaning, importance and nature of coordinating. 1. • While on one day, the manger mat devotes more time towards planning, while on other day more time may be spent on controlling. Explain. In management also the theories and principles are valid to some extent if not universal. It is also an art because a manager applies these theories and principles based on his own knowledge, creativity and skill. In addition, management is practiced by organisations in all the countries and regions. Rather, it is intrinsic in all the operations and functions of the management. the various components of planning such as policies, strategies, procedures, schedules and programs serve as means of integrating activities of different groups and departments. ii. Various theories and principles have been developed in management. That is, no function can be complete without the other ones. In addition to this, these functions are interrelated and each one is a function of the other. Coordination is regarded as an essence of management rather than a separate function of manager because of following reasons: 1. With management their strengths are utilised and weakness are worked upon so as to achieve the desired objectives. The operational management as per the instructions of the middle management directly oversees the actual work process. Nature and Significance of Management Class 12 Business Studies MCQs Pdf. It is the ‘essence’ of management. Coordination brings unity of action and integrates different activities of organisation. In this case, the manager may complete the allotted task in time but the task would lack efficiency. In India, the AIMA (All India Management Association) is an association for the managers. Hence, we see that coordination is intrinsic and imperative for management. In addition, planning helps in predicting the situations and choosing the best out of various alternatives to deal with the situation. Thus, here also coordination is needed to synchronise the activities of each department towards the achievement of common goals of the organisation. Watch Coordination - The Essence of Management Videos tutorials for CBSE Class 12-commerce Business Studies Part I. (a) Existing Literature: All art forms such as music, dance presuppose a defined body of knowledge and literature. For example, in India, the Indian Institute of Management (IIM) is the premier institute of management. Similarly, management also has a lot of literature for theoretical knowledge and learning. Similarly, until right kind of staffing is not there, then direction would not be successful. Similarly, in management, a manager applies the theories and principles of management to different situations as per his own creativity and imagination and sometimes even formulates new ways to address a situation. Directing has two important aspects- motivation and leadership. Here, the two key words- efficient and effective play an important role. Ans: Management fulfills the criteria of both an art as well as a science. It is also required for the survival, growth and profitability of the organisation. It is the common thread that runs through all activities such as purchase, production, sales, and finance to ensure continuity in the working of … organisational objectives (such as earning profits and growth of the organisation), social objectives (such as providing employment) and personal objectives can be achieved. This is because management primarily deals with humans and human behavior. It begins right from the stage of planning where goals and objectives are set for the organisation. This article justifies that coordination is the essence of management. Answer: d Explaination: (d) Management is considered to be a deliberate process as it involves creating an environment which … Coordination is needed to perform all the functions of management (i) In planning coordination is required between main plan and supportive plans of different departments. Efficiency on the other hand, means completing the task with minimum possible costs and resources. iv. Thus, coordination is required from an outside body such as the manager so as to integrate their opinions and thoughts. It binds the people of the organisation and their activities to ensure a smooth functioning of the work. They are the ones, responsible for developing the policies and goals for the organization. ii. Coordination: The Essence of Management. Coordination and cooperation are required at every level of organization and within every department to avoid wastage of efforts, time, and money and avoid dissatisfaction among employees. By Coordination, we mean a path through which the group functions are linked up. Another way to prevent getting this page in the future is to use Privacy Pass. • It would lead to a chaotic situation causing distress among the employees. For the performance of these interrelated functions, the activities of the various departments, units and individuals must be synchronized. For example, the sales department may want greater monetary incentives for its employees but the finance department may not approve of such incentives as it may lead to increase in the cost of the organisation. (b) Allotted Work: Each task requires specialisation to give the requisite results. NCERT Solutions class 12 Business studies Nature & Significance of Management. That is, in this case the manager compromises on effectiveness while achieving efficiency. This is achieved by praising and criticising the work as and when required. 1 – Nature and Significance of Management, Management as Science, Art and Profession. It is only through coordination among the different functions of … The only difference lies in how it is practiced by different organisations in different regions based on their culture and traditions. It is a very important aspect of management as it helps in reaching the set goals. Also, every individual will have his/her personal goals which may create hindrance in achieving the organisational goals. Coordination is the essence of management as: 1. (b) Organising: Once the plan is designed, the next step is organising. Revise Business Studies Part I chapters using videos at TopperLearning - 75681 ii. Leadership on the other hand, implies getting the work done as per the directions of the leader. On the other hand, middle level managers interpret these policies in terms of plans and objectives and works towards implementing them with the help of the operational management. Class 12 Business studies chapter wise NCERT solution for Business studies part 1 and Business studies part 2 for all the chapters can be downloaded from our website and myCBSEguide mobile app for free. Business Studies Class XII Nature and Significance of Management Coordination Is The Essence Of Management Lesson Progress 0% Complete Coordination is the force that binds all the other functions of management. Management as a course is offered by many colleges and professional institutes. For example, two writers can describe a given situation based on their unique interpretations. Rather, it is intrinsic in all the operations and functions of the management. Professional Association: As every profession, management is also affiliated to a professional association that regulates the functions of the members. | EduRev Commerce Question is disucussed on EduRev Study Group by 643 Commerce Students. While on one hand, being effective implies actually achieving the goals, on the other hand, being efficient would reduce the cost and thereby, increase profits. The following points explain the features of management as an art and as a science: Management as an Art: Management satisfies the following criteria for it to be called an art. Coordination: The Essence of Management: Coordination brings unity of action and integrates different activities of organisation. Efficiency involves minimising costs and increasing output. (a) Harmonized Goals: In any organisation, growth is one of important goals. In addition, similar to other disciplines of science, management also has its own vocabulary. However, alike other profession through management also the society is served. However, the entry is restricted as persons with professional management degree or diploma are preferred. ii. Controlling also takes care that if there arises any error or discrepancy then, appropriate measures are taken to rectify it. Ans: Cooperating is not a function of management. This helps in finally achieving the goals in time, effectively and efficiently. 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