Our Business Studies Notes
Part A – Principles and Functions of Management
Part B – Business Finance and Marketing
Management is the process of planning, organizing, staffing, directing, and controlling organizational resources to achieve goals efficiently and effectively.
Nature of Management:
Goal-Oriented – Aims to achieve group objectives.
Pervasive – Present at all levels and in all types of organizations.
Multidimensional – Involves work with people, operations, and goals.
Continuous Process – Ongoing series of functions.
Group Activity – Involves teamwork and coordination.
Dynamic Function – Adapts to changing environment.
Intangible Force – Cannot be seen but felt through results like improved performance.
Objectives of Management:
Organizational Objectives – Survival, profit, growth.
Social Objectives – Serving society (e.g., fair wages, eco-friendliness).
Personal Objectives – Employee satisfaction, development, and needs.
Importance of Management:
Achieves group goals
Increases efficiency
Creates a dynamic organization
Helps in achieving personal objectives
Helps in development of society
Management as an Art, Science, and Profession:
Art – Requires creativity, personal skills, and practice.
Science – Based on principles, cause-effect relationship, and experimentation.
Profession – Has a code of conduct, specialized knowledge, but lacks strict entry barriers (so it’s not a full profession yet).
Levels of Management:
Top Level – Strategy and vision (e.g., CEO).
Middle Level – Executes plans (e.g., department heads).
Lower/Supervisory Level – Day-to-day work (e.g., supervisors, foremen).
Functions of Management:
Planning
Organising
Staffing
Directing
Controlling
Business Studies (CUET)
Business Studies is an important subject that helps students understand the working of business organizations and management. It provides knowledge about planning, organizing, staffing, directing, and controlling business activities. The subject also develops decision-making, leadership, and analytical skills in students. Business Studies plays a vital role in preparing students for careers in management, entrepreneurship, and commerce, making it highly relevant for CUET aspirants.
📌 FAQs Related to CUET (Common University Entrance Test)
1. What is CUET?
CUET (Common University Entrance Test) is a national-level entrance exam conducted for admission into undergraduate programs in central, state, and other participating universities in India.
2. Who conducts CUET?
CUET is conducted by the National Testing Agency (NTA).
3. Who can apply for CUET?
Students who have passed or are appearing in Class 12 from a recognized board are eligible to apply for CUET.
4. What courses are offered through CUET?
CUET is used for admission to courses like B.Com, BBA, BA, B.Sc, and other undergraduate programs.
5. What is the exam pattern of CUET?
CUET consists of multiple-choice questions (MCQs) and includes sections such as Language, Domain Subjects, and a General Test (depending on the course).
6. Is CUET compulsory for all universities?
CUET is compulsory for Central Universities, while many state, private, and deemed universities also accept CUET scores.
7. Is there negative marking in CUET?
Yes, 1 mark is deducted for every incorrect answer.