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Commerce · Class 12 Commerce

Ch 2Functions of Management — Class 12 Commerce, concept-first.

Management is commonly described as the performance of five interrelated functions — planning, organising, staffing, directing, and controlling — carried out continuously so that an organisation moves from where it is to where it wants to be.

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Key concepts

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Chapter contents

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1

Planning

Management is commonly described as the performance of five interrelated functions — planning, organising, staffing, directing, and controlling — carried out continuously so that an organisation moves…

2

Planning Process and Types of Plans

The planning process is usually described in the following steps: (1) setting objectives — what is to be achieved; (2) developing premises — the assumptions about the future environment on which the p…

3

Organising

Organising is the process of identifying and grouping the activities to be performed, dividing them among individuals, assigning them the necessary authority to carry them out, and establishing relati…

4

Delegation and Decentralisation

Delegation is the downward transfer of authority from a superior to a subordinate, so that the subordinate can perform an assigned task on the superior's behalf.

5

Staffing

Staffing is the management function concerned with obtaining, utilising, and maintaining a satisfactory and satisfied workforce — putting the right person into the right job.

6

Directing

Directing is the management function that instructs, guides, communicates with, and inspires people in the organisation to achieve its objectives.

7

Controlling

Controlling is the management function of ensuring that actual organisational activities conform to planned activities — it is the process of measuring actual performance against planned/standard perf…

Exercises

Sample & Board Papers

Sample papers and previous-year board questions for this subject.