Study Notes

                   https://sugarybloom.blogspot.com/                                        Chapter 4-   Planning click here for  chapter 2 principles of management ,  chapter 9 Financial management  , chapter 10 Financial market ,    chapter 11 marketing 1.Explain the concept of planning.  Planning is defined as setting objectives for a given time period, formulating various courses of action to achieve them, and then selecting the best possible alternative from among the various courses of action available. Planning is deciding in advance what to do and how to do.  The manager must formulate an idea of how to work on a particular task and set objectives  Planning is what managers at all levels do.   Thus planning, involves setting objectives and developing appropriate courses of ...

https://sugarybloom.blogspot.com/ Chapter 2  PRINCIPLES OF MANAGEMENT 1.Explain the concept of principles of management.  A managerial principle is a broad and general guideline for decision making and behaviour.  For example while deciding about promotion of an employee one manager may consider seniority, whereas the other may follow the principle of merit.  Principles of management deal with human behaviour  and must be applied creatively according to the situation  all the principles have to keep pace with the changing human behaviour Principles are guidelines to take decisions or actions while practising techniques. They are  guidelines for behaviour.  Principles of management are formed after research in work situations, which are technical in nature. But while practising principles of management, businesses have to fulfil social and ethical responsibilities towards society.     2.Explain the significance of management principles. T...

  https://sugarybloom.blogspot.com/ Class 12 Business Studies  Chapter 11  Marketing click here for planning , principles of management , financial management , financial market 1.Explain the concept of marketing.  Satisfaction of customer’s needs is the key to the success of any organisation in the market.   All the decisions in a firm are taken from the point of view of the customers.  Customer’s satisfaction become the focal point of all decision making in the organisation The marketing concept is based on the following:  (i) Identification of customer who is chosen as the target  (ii) Understanding needs and wants of customers in the target market.  (iii) Development of products  for satisfying needs of the target market.  (iv) Satisfying needs of target market better than the competitors.  (v) Doing all this at a profit. Thus the focus of the marketing concept is on customer needs and the customer satisfaction becomes...