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Learning Poster: Importance of Management | Business Studies (BST) Class 12 - Commerce PDF Download
The document Learning Poster: Importance of Management | Business Studies (BST) Class 12 - Commerce is a part of the Commerce Course Business Studies (BST) Class 12.
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FAQs on Learning Poster: Importance of Management - Business Studies (BST) Class 12 - Commerce
| 1. What is the definition of management in the context of commerce? |  |
Ans.Management in commerce refers to the process of planning, organizing, leading, and controlling resources, including human, financial, and physical assets, to achieve organizational goals efficiently and effectively. It encompasses various functions such as decision-making, strategic planning, and resource allocation to ensure a business operates smoothly.
| 2. Why is management considered significant in commerce? | |
Ans.Management is significant in commerce as it helps organizations to coordinate their resources, optimize operations, and adapt to market changes. Effective management leads to improved productivity, better decision-making, and enhanced customer satisfaction. It also fosters innovation and helps in achieving competitive advantage, making it vital for the success of any business.
| 3. What are the main functions of management in a commercial setting? | |
Ans.The main functions of management in a commercial setting can be categorized into five key areas: planning, organizing, staffing, leading, and controlling. Planning involves setting objectives and determining a course of action. Organizing includes arranging resources to implement the plan. Staffing focuses on recruiting and training employees. Leading is about motivating and directing staff towards achieving goals, while controlling ensures that the organization meets its objectives through monitoring performance and making necessary adjustments.
| 4. How does management influence organizational culture in commerce? | |
Ans.Management plays a crucial role in shaping organizational culture by establishing values, norms, and practices within a business. Through leadership styles, communication practices, and policy-making, management sets the tone for the workplace environment. A positive organizational culture fosters employee engagement, collaboration, and overall job satisfaction, which are essential for achieving commercial success.
| 5. What skills are essential for effective management in commerce? | |
Ans.Effective management in commerce requires a variety of skills, including technical skills for understanding the specific tasks and processes, human skills for managing interpersonal relationships, and conceptual skills for strategic thinking and problem-solving. Additionally, communication, decision-making, and leadership skills are crucial for guiding teams and facilitating collaboration within the organization.
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Sep 03, 2025
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Document Description: Learning Poster: Importance of Management for Commerce 2025 is part of Business Studies (BST) Class 12 preparation.
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