CBSE · Senior secondary

CBSE Class 12 — Notes, Chapters & Practice Quizzes

Master every Class 12 chapter — the base your board marks and your NEET / JEE / CUET prep both stand on.

13 subjects 166 chapters 171 practice quizzes NCERT syllabus
56 quiz attempts so far Dual AI-verified questions 10 quizzes free, then 10 credits
Notice Board
Class 12 students learning

Students preparing for CBSE Class 12 Board Examination

View all
Formula of the day
Physics · EM Induction · 13 formulae in the cheatsheet
Trap of the day
Lens/mirror sign convention: distances against the incident light are negative. Drop a sign and real becomes virtual.

Chapter 1: Nature and Significance of Management — Class 12 Business Studies

Business Studies · 11 chapters
Summary, key terms, important questions and a practice quiz with AI diagnosis for each.

Chapter 1: Nature and Significance of Management

Try one from this chapter
Management is best defined as the process of getting things done:

Summary

Management is the process of getting things done with the aim of achieving organisational goals effectively and efficiently. Effectiveness means completing the task and reaching the goal, while efficiency means doing the task with the least cost of resources; good management balances both. Management is characterised as a goal-oriented, pervasive, multidimensional, continuous, group and dynamic activity that is also an intangible force seen through its results. It works at three levels — top management which sets objectives and strategy, middle management which interprets policies and links top and lower levels, and supervisory or operational management which oversees workers directly. The basic functions of management are planning, organising, staffing, directing and controlling, performed in a sequence yet interrelated. Management is studied as a science (a systematised body of knowledge with principles), an art (personalised skilful application of that knowledge) and a developing profession (it has a knowledge base, training and codes of conduct but lacks restricted entry). Coordination is the orchestration of group effort to provide unity of action; it is not a separate function but the essence of management, integrating the work of departments and individuals towards common goals. It is needed at every level and runs through all managerial functions.

Meaning and concept of managementEffectiveness and efficiencyCharacteristics of managementLevels and functions of managementManagement as science, art and professionCoordination — the essence of management

Key terms

Management
The process of getting things done effectively and efficiently with and through people to achieve organisational goals.
Effectiveness
Completing the right task and achieving the end goal within the given time.
Efficiency
Achieving the goal with the minimum use of resources, reducing cost.
Levels of management
Top, middle and supervisory (lower) levels, each with distinct roles and authority.
Coordination
The orchestration and integration of group effort to give unity of action; the essence of management.
Profession
An occupation with a knowledge base, formal training, ethical code and professional association.

Important questions

Explore interactively

Key-term flashcards
Flip cards · mark known · keyboard ← → and Space
6 cards
Term1 / 6
Management
Tap to reveal
Meaning1 / 6
The process of getting things done effectively and efficiently with and through people to achieve organisational goals.
Tap to flip back
Tap card to flip

Keyboard: ← → to move · Space to flip

Practice quiz · Nature and Significance of Management

Score on this chapter, climb the leaderboard, and get an AI diagnosis of your mistakes.

Dual AI-verified questions Real exam pattern 2 quizzes free, then 10 credits per quiz

#1

Nature and Significance of Management

Business Studies 10 Qs · ~10 min
6/10avg score
6/10best