Is there any Free Test Series for NEET 2021? 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. In addition, planning helps in predicting the situations and choosing the best out of various alternatives to deal with the situation. Coordination is the essence of management. It is a process through which the activities of various departments and units are synchronised towards the achievement of the common goals of the organisation. 1. With growth of the organisation, its size increases and the number of personnel also increases. Proper organisation leads to both effectiveness and efficiency in the organisation. It is also an art because a manager applies these theories and principles based on his own knowledge, creativity and skill. Coordination links the interrelated functions of management. It is a process through which the activities of various departments and units are synchronised towards the achievement of the common goals of the organisation. Ans: Management is defined as a process of getting the work or the task done that is required for achieving the goals of an organisation in an efficient and effective manner. 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. To some extent, this restricts the entry of people in management as a profession. i. CBSE Class 12 Business Studies Case Studies – Nature and Significance of Management. 12. | EduRev Commerce Question is disucussed on EduRev Study Group by 159 Commerce Students. Define coordination in management; Discuss the features of coordination in management.,Explain the meaning, importance and nature of coordinating. The knowledge of management can be attained through various colleges, institutes and books. In a well coordinated organization, organizational goals and personal goals of people are reconciled. That is, planning, organising, staffing, directing and controlling. Coordination is the essence of management as: 1. Ans: Cooperating is not a function of management. That is, if the company focuses on effectiveness, it may have to compromise on efficiency and vice-versa. Under organising the duties and tasks are grouped and allotted to different departments, authority is defined and a hierarchical structure is established in the organisation. That is, each individual uses the basic knowledge in his own creative way. (a) Planning: Planning implies deciding what work is to be done, who is to do it and how it is to be done. For example, in India the AIMA (All India Management Association) regulates the functioning of its member managers. Rather, it is intrinsic in all the operations and functions of the management. Learn the concepts of Class 12 Business Studies Nature and Significance of Management with Videos and Stories. It involves dealing with the employees both as an individual and as groups or teams. | EduRev Class 12 Question is disucussed on EduRev Study Group by 129 Class 12 Students. In management also we have a specific Code of Conduct but, it is not obligatory for the managers to abide by them. With management their strengths are utilised and weakness are worked upon so as to achieve the desired objectives. ii. Unlike profession where the members violating the rules are punished, no such penalizing is done in management if the managers do not obey the standards set by AIMA or AIPMA. (iii) To assign the necessary duties to the persons working in various departments. iii. However, as against science, in management no exact cause and effect relationship can be established. Give reasons. It deals with guiding and steering the people working in the office. Ncert solution class 12 Business studies includes text book solutions from both part 1 and part 2. 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. For example, a corporate firm requires management as does a non-profit organisation. Coordination is is the essence of management because : ... CASE 12. It is the common strand that runs through all actions such as production, purchase, finance and sales to assure perpetuity in the functioning of the establishment. (vi) Coordination is the essence of management Management function revolves around making, arranging things, moving things in an organisation in relation to overall objective of the organisation. This is because management primarily deals with humans and human behavior. Management is a science because it is based on various theories and principles which were developed over years with continuous experimentation and observations. Directing has two important aspects- motivation and leadership. THIRST FIRST BOTTLING COMPANY: S.O.SCompetition in the soft drinks industry is very intense that every means to improve a company's sales pos … ition are explored. NCERT Solutions class 12 Business studies Nature & Significance of Management Class 12 Business studies Class book solutions are available in PDF format for free download. Management is considered to be both an art and a science. (e) Controlling: Once the above functions are done, it is necessary to control and check that the work is moving in the right direction. Hence, we see that coordination is intrinsic and imperative for management. Coordination is needed to perform all the functions of management starting from planning, organizing, staffing, directing and controlling. In India, the AIMA (All India Management Association) is an association for the managers. This may lead to diversion or conflict among various specialists in the organisation. That is, the different departments must cooperate with each other and work in a coordinated manner. It is also required for the survival, growth and profitability of the organisation. Such as Henry Fayol’s Principles of Management, Taylor’s Scientific Management Theory. 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. The operational management as per the instructions of the middle management directly oversees the actual work process. The following are the characteristics of management as a profession: i. Systemised Knowledge: Management has a systemised and well-defined body of knowledge. Which is not a function of management of the following? 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. Effectiveness means completing the given work in the required time. However, the entry is restricted as persons with professional management degree or diploma are preferred. (a) Harmonized Goals: In any organisation, growth is one of important goals. Although the application of the theories and their outcomes vary from situation to situation, however they act as standards for actions in different situations. This video is all about the topic coordination --the essence of management class 12 , NCERT , Chap - 1. May even hamper the progress of … nov 26,2020 - Why coordination is the premier Institute of Chartered of! 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