Our Business Studies Notes
Part A – Principles and Functions of Management
Part B – Business Finance and Marketing
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.
Principles of Management are broad and general guidelines that help managers in decision-making and managing business activities effectively and efficiently.
Features of Principles of Management:
Universal applicability – Used in all organizations.
General guidelines – Not rigid rules.
Formed by practice and experimentation.
Flexible – Can be adapted.
Aimed at influencing behavior.
Cause and effect relationship – Help predict results.
Importance of Principles of Management:
Provide useful insights to managers.
Help in optimum resource utilization.
Aid in scientific decision-making.
Improve efficiency and coordination.
Foster adaptability and innovation.
Fayol’s 14 Principles of Management:
Division of Work – Specialization increases efficiency.
Authority and Responsibility – Balance between power and duty.
Discipline – Respect for rules and agreements.
Unity of Command – One boss for one employee.
Unity of Direction – One plan for a group of activities.
Subordination of Individual Interest to General Interest.
Remuneration – Fair pay for work done.
Centralisation and Decentralisation – Proper balance of authority.
Scalar Chain – Clear chain of command.
Order – Right person in the right job; tidy environment.
Equity – Fair and kind treatment to staff.
Stability of Personnel – Low staff turnover = efficiency.
Initiative – Encouraging ideas and actions.
Esprit de Corps – Team spirit and unity.