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Lesson Posted on 30 Jul CBSE/Class 12/Commerce/Business Studies

notes on all the process related questions in Bst class 12 CBSE

Shashi Ramachandran

I am an experienced, qualified teacher with over 18 years of experience in teaching Accountancy and Business...

PROCESS RELATED QUESTIONS Planning Process Setting Objectives: The first step is setting objectives for the entire organisation and each department or unit within the organisation. Developing Premises: Since future is uncertain therefore, the manager is required to make certain assumptions called... read more

PROCESS RELATED QUESTIONS

Planning Process

  1. Setting Objectives: The first step is setting objectives for the entire organisation and each department or unit within the organisation.
  2. Developing Premises: Since future is uncertain therefore, the manager is required to make certain assumptions called as premises.
  3. Identifying alternative courses of action through which the desired goals can be achieved.
  4. Evaluating alternative courses to analyse the relative pros and cons of each alternative in the light of their feasibility and consequences.
  5. Selecting an alternative or a combination of plans which appears to be most feasible
  6. Implement the plan with the help of a strategy.
  7. Follow up action in order to monitor the plans to ensure that the desired objectives are achieved efficiently and effectively.

Organizing Process

  1. Identification and division of work: The work is divided into manageable activities so that duplication can be avoided and the burden of work can be shared among the employees.
  2. Departmentalisation involves grouping of similar activities into departments, units, sections, etc. using several criteria.
  3. Assignment of duties is done to the members as per their job positions. Once departments have been created, each of them is placed under the charge of an individual.
  4. Establishing reporting relationships each individual should also know who he has to take orders from and to whom he is accountable. The establishment of such clear relationships helps in coordination.

Staffing Process

  1. Estimating the manpower requirements on the basis of workload analysis and workforce analysis.
  • Workload Analysis number and types of human resources necessary for various jobs.
  • Workforce Analysis the number and type of human resources available.
  1. Recruitment is the process of searching for prospective employees and stimulating them to apply for jobs in the organisation.
  2. Selection is the process of choosing from among the pool of the prospective job candidates developed at the stage of recruitment.
  3. Placement and Orientation is done by giving the charge of the post to the employees for which he has been selected. It also includes introducing him to the other employees and familiarising him with the rules and policies of the organisation.
  4. Training and development is done in order to ensure continuous learning of their employees so that they contribute effectively and efficiently to achieve organisational goals. Training is given to make a person job fit whereas development seeks to increase their potential for higher level jobs.
  5. Performance appraisal is to evaluate the worth of an employee to the organisation
  6. Promotion and career planning are an integral part of people’s career and enhance their job satisfaction.
  7. Compensation refers to all forms of pay or rewards going to employees.

Selection Process

  1. Preliminary Screening helps the managers to eliminate unqualified or unfit job seekers who do not fulfil the minimum requirements of job.
  2. Selection Tests helps to measure certain characteristics of individuals.
  3. Employment Interview is a face-to-face conversation conducted to evaluate applicant’s suitability for the job.
  4. Reference and Background check is to verify information and gaining additional information about an applicant.
  5. Selection Decision is made from among the candidates who pas the tests and interview.
  6. The candidates are required to undergo a medical examination before the job offer is made.
  7. Job Offer is made to those applicants who have passed all the previous tests.
  8. Contract of Employment is issued to the selected candidate and includes information like job title, duties, responsibilities date of joining, pay and allowances etc.

 

 

 

 

 

Controlling Process

  1. Setting Standards in clear, specific and measurable terms
  2. Measurement of actual performance as far as possible in the same units in which standards are set.
  3. Comparing actual performance with standards to identify deviations if any.
  4. Analysing deviations through critical point control and management by exception approaches.
  • Critical Point Control (CPC): control should focus on key result areas (KRAs) which are critical to the success of an organisation.
  • Management by exception (MBE): only significant deviations which go beyond the permissible limit should be brought to the notice of management.
  1. Taking corrective action whenever the deviation occurs beyond the permissible limits so that it does not re occur in future.

Trading Procedure on a Stock Exchange

  1. The investor approaches a registered broker or sub-broker for trading.
  • The investor has to sign a broker-client agreement and a client registration form.
  • The investor has to give certain details and information about him including PAN number, date of birth, bank account details, income details etc.
  • After the completion of the above formalities, the broker opens a trading account in the name of the investor.
  1. The investor has to open a demat account with a depository participant and a bank account for trading transaction in cash.
  2. The investor then places an order to buy or sell shares with the broker.
  • By giving clear instructions about the desired quantity and price.
  • The broker will then make the investor aware about the feasibility of the order.
  • The broker will issue an order confirmation slip to the investor.
  1. The broker will then execute the order through screen based trading by considering the best available deal.
  2. The broker will issue a trade confirmation slip to the investor.
  3. Within 24 hours after the deal is executed the broker issues a contract note.
  • A contract note contains details about the deal i.e., the number of securities bought/sold, price, date and time of transaction etc.
  • The contract note includes a unique order code generated by the stock exchange for that transaction.
  1. Since the settlement cycle is T+2 therefore, within two days of receiving the Contract Note, the investor has to pay cash or deliver shares sold as the case may be. The can then forward it to the exchange.  This is called pay-in-day.
  2. On the T+2 day, cash will be paid or shares will be delivered as the case may be by the exchange to the other broker. This is called pay-out-day. Then, in case of sale of shares, the broker has to make payment to the investor within 24 hours.

Motivation Process

  1. Unsatisfied Need
  2. Tension
  3. Drives
  4. Search
  5. Satisfied need
  6. Reduction of Tension

Communication Process

  1. Sender
  2. Message
  3. Encoding
  4. Media
  5. Decoding
  6. Receiver
  7. Feedback
  8. Noise

                                                                                               

 

 

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Lesson Posted on 12 Jun CBSE/Class 12/Commerce

Techniques of Scientific Management - CBSE/NCERT Class XII Bussiness Studies

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical.

Scientific Management Techniques- Class 12th Organisation of Commerce and Management (OC/OCM) ICSE Commercial Studies IGCSE/GCSE
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Answered on 10 Mar CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

C.a. Kumar

Tutor

Due to admission of a new partner, old partners have to share their part in their value of goodwill created till date. Hence they (old) partners wants contribution from new partner for their compromise in the value of goodwill for new partner. New partner would compensate to old partners in their sacrificing... read more

Due to admission of a new partner, old partners have to share their part in their value of goodwill created till date. Hence they (old) partners wants contribution from new partner for their compromise in the value of goodwill for new partner. New partner would compensate to old partners in their sacrificing ratio.

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Answered on 09 Jun CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Sourav Paul

Accounts master

It depends on the type of organisation let me illustrate with an example hospitals that are runned by state government or any NGO or trust does not profit motive hence they will prepare Income and expenditure A/C and hospitals those are opened by private companies or public companies which have profit... read more

It depends on the type of organisation let me illustrate with an example hospitals that are runned by state government or any NGO or trust does not profit motive hence they will prepare Income and expenditure A/C and hospitals those are opened by private companies or public companies which have profit motive like Apollo, llelavati hospital etc will prepare profit and loss A/C bcoz thr motive is to earn profit and maximize the wealth of shareholders 

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Answered on 28 Apr CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Excellent Tuitions

Training Centre

No partner is entitled to a salary if Partnership Deed is silent on it. It doesnt make any difference if he works more than others, if Partnership Deed is silent on it.
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Answered on 05 Jun CBSE/Class 12/Commerce Tuition/Class XI-XII Tuition (PUC)

Deepika Dhawan

Commerce Expertise

Sales figures are assumed to be 100
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