KSEEB Solutions For Class 9 Business Studies Chapter 1 Management Of Business

KSEEB Solutions For Class 9 Business Studies Chapter 1 Management Of Business Points To Remember

The term Management is used to refer to the principles of managing the activities of an enterprise. It is also used to refer to a field of learning or a branch of knowledge. J.L. Haynes stated that “Management is an art of getting things done through other people”. According to George R. Terry, ‘‘Management is a distinct process consisting of planning, organizing, actuating and controlling performance to determine and accomplish the objectives by the use of people and resources.”

• Management is the sum total of the principle Junctions namely :

1. Planning
2. Organizing
3. Staffing
4. Directing
5. Co-ordinating and
6. Controlling.

• The following principles are suggested by Henry Fayol. Division of Work, Authority and responsibility, Discipline, Unity of command, Unity of Direction, Sub-ordination of Individual interest to General interest, Remuneration of Personnel, Centralisation Scalar chain, Equity, Stability of security to personnel, Initiative, Espirate De-Corps.
• Equity means that there must be fair dealing, accommodation, or cooperative attitude among the common employees and managers.
• Aspirate De-Corps is based on the principle “Unity is strength”.
• Decision-making can be regarded as the mental process, resulting in the selection of a course of action among several activities.

Decision-making can be broadly divided into two types. They are :

1. Individual decisions
2. Group decisions. Decision-making by a group of people as in the case of Partnership firms and the Board of Directors as in the case of Joint Stock Companies or Cooperative Societies is called Group decisions.

KSEEB Solutions for Class 9 Business Studies Chapter 1 Management of Business

The following points are to be kept in mind while making decisions.

1. Time factor,
2. experience,
3. wise decision (wisdom),
4. firmness,
5. boldness and
6. clarity.

• The Managerial functions may be classified into different areas. Some others are :

1.  Planning
2. Organizing
3. Staffing
4. Directing
5. Coordinating
6. Controlling.

Management Of Business Textual Questions And Answers

Answer the following questions in a sentence.

Question 1. What is management?
Answer: The term Management is used to refer to the principles of managing the activities of an enterprise. It is also used to refer to a field of learning or a branch of knowledge.

Question 2. What do you mean by decision-making?
Answer: Decision-making can be regarded as the mental process, resulting in the selection of a course of action among several activities.

KSEEB Class 9 Business Studies Management of Business Summary

Question 3. What is an individual decision and what is a collective decision?
Answer: It is the individual who takes the decision in small business organizations like sole trading concerns, They are called individual decisions. Decision-making by a group of people as in the case of Partnership firms and the Board of Directors as in the case of Joint Stock Companies or Cooperative Societies is called Group decisions.

Class 9 Business Studies Management of Business KSEEB Notes

Question 4. What is the principle of authority and responsibility in principles of management?
Answer: It refers to authority and responsibility, which are the combination of official authority and personal responsibility.

Answer each of the following questions in about four to five sentences.

Question 1. What are the principles of management suggested by Henry Fayol?
Answer:
The following principles are suggested by Henry Fayol:

• Division of Work
• Authority and responsibility
• Discipline
• Unity- of command
• Unity of Direction
• Sub-ordination of Individual interest to General interest
• Remuneration of Personnel
• Centralisation Scalar chain
• Equity
• Stability of security to personnel
• Initiative
• Aspirate De-Corps

Question 2. What are the functional areas of management?
Answer:
The Managerial functions may be classified into different areas. Some of them are:

• Planning
• Organizing
• Staffing
• Directing
• Co-ordinating
• Controlling.

Question 3. Write about the authority and responsibility, scalar chain, and centralization in principles of management
Answer: Authority and responsibility principle refers to authority and responsibility, which are the combination of official authority and personal responsibility. The scalar chain principle means that every enterprise should have graded authority or superior-subordinate relationship. The centralization principle refers to the extent to which authority is concentrated so that it gives the overall yields.

KSEEB Class 9 Business Studies Chapter 1 Question and Answers

Question 4. What is the need for decision-making in the management of the business?
Answer:
The need for decision-making in the management of a business is:

• In order to achieve objectives and goals the business organization has to take decisions.
• There are a number of choices available even in a small matter.
• Suppose a businessman has to transport goods, he has to take a decision about the mode of transportation.
• He has to choose one among the several alternatives and that alternative should be best suited and economical.

Question 5. What are the important elements of decision-making?
Answer:
The important elements of decision-making are:

• Establishing goals
• Defining tasks
• Searching for alternatives
• Developing plans
• Rational thinking and reasoning
• Situation
• Evaluation

SSLC Class 9 Business Studies Chapter 1 Solutions Karnataka Board

Question 6. What factors are to be kept in mind, while taking a decision?
Answer:
The following factors are to be kept in mind while taking decisions are:

• Analyzing the problem.
• Planning of course of action.
• Maintaining courage and patience.
• Farsightedness.
• Ability to take quick and wise decisions.

Question 7. What do you mean by planning and organization in functional areas of management?
Answer: The process of planning includes the determination of organizational objectives and the formulation of plans, policies, strategies, programs, procedures, and schedules. Organizing is the process of bringing together manpower and material resources. Some of the material resources are machines and materials.

Question 8. How is controlling an important area of managerial function?
Answer: Controlling is an important area of the managerial function. It covers almost all management activities. It keeps checking on other functions of management. It is a function that every manager in the organization has to perform.

Question 9. What are the main objectives of controlling areas?
Answer:
The main objectives of controlling area are:

• To create an atmosphere of order and discipline in the organization to ensure proper coordination of activities.
• To ensure confirmation of actual performance with the pre-determined plans.
• To achieve the increase of the overall efficiency of the organization.

Management of Business Class 9 KSEEB Important Questions

Question 10.“Directing and co-ordinations are very important functions in business management” how?
Answer:
Directing is the area of functional management where instructing, guiding, supervising, and leading the people of an organization towards the accomplishment of the organizational goals. It is issuing orders or instructions to the sub-ordinates and making certain that the instructions are properly carried out and the operations are successfully planned.

Coordination is the harmonious blending of the activities of the different departments for the achievement of the desired goals. It is the arrangement of group efforts to provide unity of actions in the pursuit of a common purpose.

Management Of Business Additional Questions And Answers

Choose the correct alternative and Write the complete answer along with its alphabet in the answer sheet provided

Question 1.‘Management is an art of getting things done through other people.’ This definition was given by

1. J.L. Haynes
2. George R. Terry
3. Henry Fayol
4. Adam Smith

Answer: 1. J.L. Haynes

Question 2. The option which is NOT the area of managerial functions is

1. Directing
2. Controlling
3. Staffing
4. Foresightedness

Answer: 4. Foresightedness

Question 3. Management is a distinct process consisting of planning organizing etc. This is stated by

1. George R. Terry
2. J L Haynes
3. Henry Fayol
4. Adam Smith

Answer: 1. George R. Terry

Karnataka Board Class 9 Business Studies Chapter 1 PDF Download

Question 4. Aspirate De-Corps is based on the principle

1. Unity of command
2. Unity of Direction
3. Unity is strength
4. Unity in Diversity

Answer: 3. Unity is a strength