A successful enterprise need to always try that their goals can be acheived effectively nd effciently Effectively means completing a work in manner that cost should be reduced no matter how much time consumed Efficiently means completing a work in a cost effective manner that time or cost both can be reduced Thats why a enterprise wants that their work should be completed that cost or time both can be minimised

1) well defined body of knowledge 2) professional association 3) service motive 4) ethical code of conduct 5) restricted entry

Management is both an art and a science. The above mentioned points clearly reveals that management combines features of both science as well as art. It is considered as a science because it has an organized body of knowledge which contains certain universal truth. It is called an art because managing requires certain skills which are personal possessions of managers. Science provides the knowledge & art deals with the application of knowledge and skills. A manager to be successful in his profession must acquire the knowledge of science & the art of applying it. Therefore management is a judicious blend of science as well as an art because it proves the principles and the way these principles are applied is a matter of art. Science teaches to ’know’ and art teaches to ’do’. Example. a person cannot become a good singer unless he has knowledge about various ragas & he also applies his personal skill in the art of singing. Same way it is not sufficient for manager to first know the principles but he must also apply them in solving various managerial problems that is why, science and art are not mutually exclusive but they are complementary to each other (like tea and biscuit, bread and butter etc.). The old saying that “Manager are Born” has been rejected in favor of “Managers are Made”. It has been aptly remarked that management is the oldest of art and youngest of science. To conclude, we can say that science is the root and art is the fruit.

Yes, coordination in the process in which manager synchronise the activities of different department. 1) coordination is a dynamic process. 2) coordination is multi dimensional . 3) coordination helps in increasing specialisation, efficiency in organization. we can say that coordination is a important part of management. Hence, coordination is the essence of management.

Employee turnover refers to the incoming and outgoing of employees in an organisation

3 level Top level of management Middle level of management Lower level of management ??

Employees may not adjust according to the rules and regulations of the company The new employees may not adjust themselves as per the rules and regulations of the organisation which means more chances of employee turnover.

• Provide managers with useful insight into reality.
• Helps in thoughtful decision-making, i.e. scientific decisions.
• Helps in optimum utilisation of resources and effective administration.
• Helps the managers in meeting changing environment requirements.
• Fulfilling social responsibility.
• Basis of management training, education and research

(JAM) is a common admission test conducted every year for admission into Master of Science (M.Sc.) and other post-graduate science programs at Indian Institutes of Technology (IITs), Indian Institute of Science (IISc) and National Institutes of Technology(NITs), organized by alternating institutes every year.

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Recruitment: It refers to identification of the sources of manpower availability and making efforts to secure applicants for the various job positions in an organization.

Lower Level Management or Supervisory Level (consists of supervisors, foremen and superintendents).
Functions performed at operational/supervisory level are:
(a) They interact with the actual workforce and pass on instructions of the middle management.
(b) Maintains discipline among workers.
(c) Ensures quality output, minimum wastage and safety standards.

The COVID-19 pandemic has had far-reaching economic consequences beyond the spread of the disease itself and efforts to quarantine it. As the SARS-CoV-2 virus has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business in the services sector.[1] The pandemic caused the largest global recession in history, with more than a third of the global population at the time being placed on lockdown.[2] Supply shortages are expected to affect a number of sectors due to panic buying, increased usage of goods to fight the pandemic, and disruption to factories and logistics in mainland China. There have been instances of price gouging.[3] There have been widespread reports of shortages of pharmaceuticals,[4] with many areas seeing panic buying and consequent shortages of food and other essential grocery items.[5][6][7] The technology industry, in particular, has been warning about delays to shipments of electronic goods.[8][needs update] Global stock markets fell on 24 February 2020 due to a significant rise in the number of COVID-19 cases outside mainland China.[9][10] By 28 February 2020, stock markets worldwide saw their largest single-week declines since the 2008 financial crisis.[11][12][13] Global stock markets crashed in March 2020, with falls of several percent in the world's major indices.

Selection is done in the third step, in which a prospective candidate is chosen from the pool of candidates. It ensures that the organisation gets the best among the available and it also enhances the morale of the selected candidate. Preliminary screening and selection tests have been conducted. The next three steps in the process of selection are:

• Employment interview All applicants who qualify in selection tests are called for an interview. Interview is formal face to face oral conversation between the employer and the applicant.
• Reference and background checks A candidate who is successful in the interview is required to give name and address of some references. The organisation checks the credibility of the candidate through reference checks
• Selection decision A final decision has to be made about the selection among the candidates who have cleared the interviews and reference checks.

Principles of management emphasize on logical and rational decision making rather than on the basis of bias and prejudice. The given statement highlights that the knowledge of principles of management leads to Principles of management are not based on rule of thumb/hit-and-trial method, but on a scientific approach.

Definition: Liquidity means how quickly you can get your hands on your cash. In simpler terms, liquidity is to get your money whenever you need it.

 

Description: Liquidity might be your emergency savings account or the cash lying with you that you can access in case of any unforeseen happening or any financial setback. Liquidity also plays an important role as it allows you to seize opportunities.

 

If you have cash and easy access to fund and a great deal comes along, then it's easier for you to cease that opportunity. Cash, savings account, checkable account are liquid assets because they can be easily converted into cash as and when required.

 (I) Employment interview Having successfully cleared all the tests related to employment by the candidate, he is called for final interview. The objective is to judge the personality of the candidate, his way of talking, his conduct and temperament, his interest, presence of mind and maturity, etc.

(iI) Selection decision Applicants who clear selection tests, employment interview and reference checks are selected. Prior taking final selection decision, the opinion of concerned manager is sought.
(III)Job offer After successfully clearing, the job offer is given to the selected candidates for job. A date is mentioned in the appointment letter, from which one has to report for the duty.
(IV) Contract of employment After the acceptance of job offer by a selected candidate, he becomes an employee of the organisation. In this phase, appointee signs various documents. Main document among them is the attestation form in which the detailed description of the employee is provided, which he himself attests. This can be used at the time of need in future.

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Because under it, a manager tries to find out whether the work has been done according to the standards or not. It is a post- mortem of past activities to find out deviation from the standard established. In fact, the objective of controlling is to check the factors responsible for poor performance in the past, so that such mistakes r not repeated in future 

Physiological needs are the most important needs for survival acc to Maslow theory

Basic Physiological Needs: These needs are most basic in the hierarchy and corresponds to primary needs. Hunger, thirst, shelter, sleep and *** are some examples of these needs. In the organisational context, basic salary helps to satisfy these needs.

The most basic of Maslow's needs are physiological needs, such as the need for air, food, and water.

Leadership and Guidance - A supervisor is the leader of workers under him. He leads the workers and influences them to work their best. He also guides the workers by fixing production targets and by providing them instruction and guidelines to achieve those targets.

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Main means of consumer protection are as under:

1. Self Regulation by Business: Every firm insists to have a strong consumer base which means that more and still more people should buy their products. This is possible only when the consumers are fully satisfied with the products of the firm. Many firms have set up their customer service and grievance cells to redress the problems and grievances of their consumers.
2.  Business Associations: Business associations prepare a code of conduct for businessmen. It is laid down in the code of conduct as to how businessmen are expected to behave with the consumers. For example, the Federation of Indian Chambers of Commerce and Industries (FICCI) and the Confederation of Indian Industries (CII) have proposed their code of conduct which governs the attitude of their members towards consumers.
3. Consumer Awareness: As an important means of consumer protection, consumer should protect himself. He should be alert in the matter of his rights. Alert consumer alone can demand his rights from the sellers. Thus, the consumer himself must know his rights and raise voice against unfair practices of the sellers.
4. Consumer Organisations:  Consumer organizations play an important role in educating consumers about their rights and providing protection to them. These organizations can force business firms to avoid malpractices and exploitation of consumers.
5. Government:  Interests of the consumers are protected by the government by enacting various legislations. Consumer Protection Act 1986 is an important legislation by the government to provide protection to the affected consumer. This Act provides for a three-tier machinery at the district, state and national levels for redressal of consumer grievances.

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Henri Fayol (Istanbul, 29 July 1841 – Paris, 19 November 1925) was a French mining engineer and director of mines who developed a general theory of business administration that is often called Fayolism. He and his colleagues developed this theory independently of scientific management but roughly contemporaneously. Like his contemporary, Frederick Winslow Taylor, he is widely acknowledged as a founder of modern management methods.

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<a data-ved="2ahUKEwjV0rmCiOHtAhXTWisKHYDqBrkQFjABegQIARAC" href="https://www.slideshare.net/AditYash2118/principle-of-managment-cbse-class-12th" ping="/url?sa=t&source=web&rct=j&url=https://www.slideshare.net/AditYash2118/principle-of-managment-cbse-class-12th&ved=2ahUKEwjV0rmCiOHtAhXTWisKHYDqBrkQFjABegQIARAC" rel="noopener" target="_blank">Principle of Managment CBSE Class 12th - SlideShare</a>

Stability of company