Nature and Significance of Management in One Shot | Class 12th Commerce
Commerce Wallah by PW・2 minutes read
Class 12 management concepts are thoroughly explained in Disha Maam's video on youtube1, covering key topics like the levels of management, coordination, efficiency, and goal-oriented processes. The importance of management in achieving company goals, social objectives, and personal growth is emphasized, highlighting the dynamic and all-encompassing nature of this field.
Insights
- The first chapter of Class 12 management covers various fundamental concepts such as the meaning, importance, and objectives of management, as well as the different levels of management (top, middle, and lower). It highlights coordination as a crucial aspect of management, emphasizing its significance in achieving organizational goals effectively and efficiently.
- Management is a multi-dimensional, goal-oriented, and continuous process that involves overseeing work, people, and operations within a business. It is a dynamic function that adapts to changing environments, focusing on maximizing resource utilization while minimizing costs. Additionally, management contributes to societal development through economic growth, social objectives, and employment opportunities, showcasing its impact beyond organizational boundaries.
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Recent questions
What does the first chapter of Class 12 management cover?
The first chapter delves into various management concepts, including an introduction to management, definitions by different authors, features, importance, and objectives of management. It also explores the levels of management, comparing management with different professions and fields.
Why is coordination emphasized as the essence of management?
Coordination is highlighted as the essence of management because it ensures synchronization among departments and employees to achieve company goals effectively. As businesses grow in size and specialization within departments increases, coordination becomes crucial to ensure that each individual's expertise contributes to the overall success of the company.
What are the three levels of management explained in detail?
The three levels of management - top, middle, and lower - are explained in detail. Top-level management focuses on deciding departments and assigning responsibilities, while middle-level management focuses on policies, plans, organizing activities, and supervising lower-level employees. Lower-level management is responsible for maintaining good working conditions, safety standards, and boosting worker morale.
How does management contribute to societal development?
Management contributes to societal development by providing quality goods, participating in civic activities, creating employment opportunities, and supporting weaker sections of society. By organizing educational, health, and vocational training programs, management aims to benefit society and ensure inclusivity.
Why is management considered a social science?
Management is considered a social science due to its focus on human behavior and interactions within organizations. While management principles are partially based on experimentation, they lack universal validity like scientific principles. This focus on human behavior distinguishes management from traditional scientific principles.
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Summary
00:00
Class 12 Management Concepts Explained Clearly
- Disha Maam's platoon focuses on Chapter 1 of Class 12, covering significant management concepts.
- The video from youtube1 provides a comprehensive explanation of all concepts with 100% clarity.
- Class 12 is heavily based on management, building on the foundation laid in Class 11.
- The first chapter delves into various management concepts, including an introduction to management.
- The chapter covers essential topics like the meaning of management, definitions by different authors, features, importance, and objectives of management.
- It also explores the levels of management, comparing management with different professions and fields.
- The three levels of management - top, middle, and lower - are explained in detail.
- Coordination is highlighted as the essence of management, emphasizing its importance and features.
- Management is defined as the art of getting things done effectively and efficiently through decision-making and goal achievement.
- Efficiency in management is crucial, focusing on minimizing costs while maximizing resource utilization.
15:29
"Dynamic Management: Achieving Company Goals Effectively"
- Management is a Goal Oriented Process focused on achieving company goals efficiently and effectively.
- Management is all pervasive, present in all types and scales of businesses, from small to large enterprises.
- Management is multi-dimensional, involving the management of work, people, and operations in different ways.
- Management of work involves ensuring the best possible delivery of services or products to fulfill the purpose of the business.
- Management of people focuses on managing human resources effectively, including training, salaries, and performance appraisals.
- Management of operations entails overseeing the production process from raw materials to finished goods to ensure smooth operations.
- Management is a Continuous Process that requires ongoing goal-setting and achievement throughout the lifespan of a business.
- Management is a group activity, emphasizing the importance of teamwork in achieving company goals.
- Management is a dynamic function that adapts to changing environments and circumstances to ensure business success.
- Management is Intangible, influencing the performance and success of a company without being physically visible or touchable.
30:07
Business Focuses on Profit, Growth, and Society
- Business aims for profit, with growth as a key focus, expanding through new branches, factories, and products.
- Organizational objectives include ensuring survival income, moving towards profit, and focusing on growth.
- Social objectives involve benefiting society through quality products at reasonable prices and contributing to civic activities.
- Business contributes to economic growth by generating employment opportunities and providing financial support to the community.
- Educational, health, and vocational training programs are organized to benefit society, along with active participation in social service projects.
- Environmentally friendly production methods are adopted to minimize negative impacts on the environment.
- Employment opportunities are provided to weaker sections of society, ensuring inclusivity and support for those in need.
- Human objectives include competitive salaries, promotion, training, personal growth, recognition, and healthy working conditions for employees.
- Management helps achieve organizational and personal objectives, guiding individuals towards career growth and development.
- Management contributes to societal development by providing quality goods, participating in civic activities, and creating employment opportunities.
44:02
"Management: Science, Art, and Potential Profession"
- Repeated experiments were conducted based on observations to establish principles in science.
- Experimenters in science laboratories follow specific steps to ensure accurate results.
- Management principles differ from scientific principles due to dealing with people rather than experiments.
- Management principles are partially based on experimentation but lack universal validity like scientific principles.
- Management is considered a social science due to its focus on human behavior.
- Management is also viewed as an art, with personalized application and emphasis on practice and creativity.
- The comparison between management and art highlights the personalized approach in managing tasks.
- Management as a profession is distinguished by a defined body of knowledge and restricted entry requirements.
- Professional associations and ethical codes are absent in management, differentiating it from traditional professions.
- Management is not currently considered a profession but shows potential for evolving into one in the future.
59:08
"Essential Functions of Top-Level Management"
- Top-level management decides the departments and assigns responsibilities.
- Assembling resources required for machinery, fixed assets, space, furniture, fixtures, and technology is crucial.
- Top-level management is responsible for the welfare, survival, and profitability of the organization.
- Liaising with the outside world, including government officials and media, is a top-level task.
- Integrating diversity and coordinating activities across different departments is essential for synchronization.
- Analyzing the business environment and its impact on the company is a key function of top-level management.
- Middle-level management focuses on policies, plans, organizing activities, and supervising lower-level employees.
- Maintaining good working conditions, safety standards, and boosting worker morale are key responsibilities of lower-level management.
- Minimizing material wastage, maintaining safety standards, and ensuring efficiency are crucial tasks for lower-level management.
- The five essential functions of management are planning, organizing, staffing, directing, and controlling, with coordination being the essence of management.
01:14:35
Essential Coordination for Business Growth
- Coordination is essential for businesses, especially as they grow in size, requiring synchronization among departments and employees to achieve company goals effectively.
- Specialization within departments necessitates coordination to ensure each individual's expertise contributes to the overall success of the company, emphasizing the importance of coordinating activities to reach common objectives.
