PART – A
Chapter 1: Nature and Significance of Management
Management is important for every organization, irrespective of its nature, size, and other factors. Therefore, it is crucial to understand the concept of management, its nature, and its functions. The w3wiki Notes of Class 12th Business Studies covers detailed information required to know about management or business management. The notes of the first chapter, ‘Nature and Significance of Management’ provided with the quick links given below, include important topics like, Effectiveness, Efficiency, Coordination, Planning, Controlling, Management as a Science, and many more.
- What is Management? Concept, Characteristics, Objectives, Importance and Functions
- Difference between Effectiveness and Efficiency
- Nature of Management as a Science, Art and Profession
- Levels of Management
- Functions of Management- Planning, Organising, Staffing, Directing and Controlling
- Coordination – The Essence of Management | Concept, Features and Importance
- Difference between Coordination and Cooperation
Chapter 2: Principles of Management
To attain better results through management, an organization has to follow certain principles of management. The notes of the second chapter, ‘Principles of Management’, cover detailed information on different principles of management required for better functioning of an organization. The notes include Nature and Significance of Management Principles, Fayol’s Principle of Management, Taylor’s Scientific Management, Techniques of Scientific Management, and a Comparison between Taylor’s and Fayol’s Principles.
- Nature and Significance of Principles of Management
- 14 Principles of Management by Henri Fayol
- Difference between Unity of Command and Unity of Direction
- Principles of Scientific Management
- Techniques of Scientific Management
- Difference between Time Study and Motion Study
- Difference between Fayol and Taylor Theories of Management
Chapter 3: Business Environment
Business Environment is the surrounding of an organization that affects its decisions and performance during its existence. It is essential to understand the surroundings of an organization for a better decision-making process and results. The notes of the third chapter of Class 12 Business Studies Notes involve important topics, like Features, Importance, Dimensions of business environment, Demonetization, and many more in detail.
Chapter 4: Planning
Planning means deciding in advance regarding the works of an organization. Planning is the first function of management and is crucial to a business. The fourth chapter, ‘Planning’ of Class 12 Business Studies, covers everything required to know about planning as a function of management. The notes of this chapter include Features, Importance, and Limitations of Planning, Process of Planning, and Different Types of Plans in detail and easy-to-understand language.
- Features, Importance and Limitations of Planning
- Planning Process: Concept and Steps
- Types of Plans: Standing Plan and Single-use Plan
- Difference between Standing Plans and Single-Use Plans
- Difference between Policies and Objectives
- Difference between Policies and Strategy
- Difference between Policies and Procedures
- Difference between Procedures and Methods
- Difference between Procedures and Rules
- Difference between Policies and Rules
- Difference between Rules and Methods
Chapter 5: Organising
The second function of management is Organising. In other words, it means organising people and their jobs together. The fifth chapter, ‘Organising’ of Class 12 Business Studies, covers everything to know about organising as a function of management. The notes of this chapter covered in the given below quick links consist of Organising Process, Organisation Structure, Formal and Informal Organisation, Delegation, Centralisation, and Decentralisation in detail.
- Organising- Meaning, Importance and Process
- Types of Organisation Structure
- Difference between Functional Structure and Divisional Structure
- Formal and Informal Organisation
- Difference between Formal and Informal Organisation
- Elements and Importance of Delegation
- Difference between Authority, Responsibility and Accountability
- Centralization and Decentralization
- Difference between Centralization and Decentralization
- Difference between Delegation and Decentralization
Chapter 6: Staffing
Every organization requires human force to run their business for which they need the Staffing function of management. Staffing means recruiting, selecting, and training individuals in an organization for the individuals’ and organization’s benefit. The sixth chapter of Class 12 Business Studies is Staffing, and its notes provided with the quick links given below cover important topics, like Staffing Process, Selection Process, Training Methods, etc.
- Features and Importance of Staffing
- Staffing and Human Resource Management
- Staffing Process
- Sources of Recruitment (Internal and External: Meaning, Merits and Demerits)
- Difference between Internal Recruitment and External Recruitment
- Steps in Selection Process
- Difference between Recruitment and Selection
- Importance of Training and Development to Organisation and Employees
- Methods of Training: On-the-Job Methods and Off-the-Job Methods
- Difference between On-the-Job Training Methods and Off-the-Job Training Methods
- Difference between Training and Development
- Difference between Training, Development and Education
Chapter 7: Directing
Directing is the fourth function of management and is crucial to every organization as it cannot attain the pre-determined goals if the human resource is not directed towards the organizational goals properly. The seventh chapter of Class 12 Business Studies, ‘Directing’, covers everything required to know about directing, leadership, supervision, and communication. The notes of this chapter include important topics, like Principles of Directing, Qualities of a Good Leader, Barriers to Communication, Communication Process, and many more.
- Directing: Meaning, Characteristics and Importance
- Principles and Elements of Directing
- Importance of Supervision
- Features and Importance of Motivation
- Process of Motivation
- Maslow’s Hierarchy of Needs Theory
- Financial and Non-Financial Incentives
- Difference between Financial and Non-financial Incentives
- Features and Importance of Leadership
- Types of Leadership Styles
- 10 Qualities of a Good Leader
- Difference between a Manager and a Leader
- Nature and Importance of Communication
- Elements of Communication Process
- Communication Channels | Formal and Informal
- Formal Communication: Meaning, Types, Networks, Merits and Demerits
- Informal Communication: Meaning, Networks, Merits and Demerits
- Barriers to Effective Communication
- Measures to improve Communication Effectiveness
Chapter 8: Controlling
The last function of management is controlling. A business can achieve success only when it knows how to detect its performance and control it. The last chapter of Class 12 Business Studies, Part-A ‘Controlling’, covers important topics, like Limitations of Controlling, Process of Controlling, Techniques of Managerial Control, and many more.
CBSE Class 12 Business Studies Notes
Business Studies is a study of how to control and manage an organization effectively and efficiently. After providing the basic knowledge about Business Studies in Class 11 Notes, w3wiki has designed Notes for Class 12 Business Studies according to the CBSE Syllabus. The mentioned below Chapterwise quick links of Class 12 Business Studies provide detailed knowledge about the subject and the related topics. The notes contain 12 chapters covering every important topic, like Functions of Management, Principles of Management, Marketing, Stock Exchange, Training, Recruiting, Planning, and many more.