Class 12 Business Studies — Chapter 1: NATURE AND SIGNIFICANCE OF MANAGEMENT

What you'll learn

• ▸Concept of Management
• ▸Effectiveness vs. Efficiency
• ▸Characteristics of Management
• ▸Importance of Management
• ▸Functions of Management
• ▸Nature of Management: As an Art, Science, and Profession
• ▸Coordination

Chapter Summary

--- PAGE 1 --- NATURE AND SIGNIFICANCE OF MANAGEMENT 1 CHAPTER Management at Tata Steel Founded in 1868, by Jamsetji Nusserwanji ,Tata the Tata Group L E A R N I N G is a global business conglomerate operating in over 100 countries O B J E C T I V E S across 5 continents. His strong sense of values and spirit of innovation and entrepreneurship are a legacy that continues to After studying this guide Tata companies till date. He had four goals in life: setting chapter, you should up an iron and steel company, a world-class learning institution, a be able to: unique hotel and a hydro-electric plant. Only the hotel became a reality during his lifetime, with the inauguration of the Taj Mahal ■ Describe the Hotel at Colaba waterfront in Mumbai on 3 December 1903 at characteristics of the cost of 11 million (worth 11 billion in 2015 …

Practice Questions from this Chapter

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1. Explain effective management principles. Get Solution →
2. Give modern business examples. Get Solution →
3. How do companies achieve success? Get Solution →
4. According to the text, who founded the Tata Group in 1868? Get Solution →
5. What is the name of the entrepreneur from Sikkim who started Namchi Designer Candles? Get Solution →
6. In the context of management, what does the term 'effectiveness' mean? Get Solution →
7. What does the term 'efficiency' mean in a management context? Get Solution →
8. Which of Jamsetji Tata's four goals became a reality during his lifetime? Get Solution →

Did you know?

• 💡 Ancient Egyptians meticulously managed thousands of workers to construct the pyramids.
• 💡 The world's oldest continually operating company began in Japan in 578 AD.
• 💡 The word "manager" once described someone training or handling horses.
• 💡 Early forms of accounting and record-keeping were used in Mesopotamia over 5,000 years ago.
• 💡 Before clocks, church bells told communities when to start and stop daily work.

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