DCM1105 PRINCIPLES OF BUSINESS JULY-AUG 2025

Description

SESSION	JULY-AUG 2025
PROGRAM	BACHELOR OF COMMERCE (BCOM)
SEMESTER	I
COURSE CODE & NAME	DCM1105  PRINCIPLES OF BUSINESS MANAGEMENT

 

 

Set – 1

 

 

Q1. Define management and explain its nature and significance. 2+4+4          

Ans 1.

Management

Management is the process of planning, organizing, directing, and controlling the efforts of people and the use of organizational resources to achieve predetermined goals effectively and efficiently. It combines scientific principles with artistic judgment, making it both structured and flexible. Management ensures that human and material resources are coordinated in a purposeful and systematic manner to achieve the best possible outcomes for the organization.

Nature of Management

The nature of management reflects its essential characteristics and helps in understanding its

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Q2. Describe the essential skills that a manager should possess for effective management. 10           

Ans 2.

Managerial Skills

Managerial skills are the abilities and qualities that a manager must possess to perform their duties effectively. These skills enable managers to guide employees, solve problems, make decisions, and achieve organizational goals.

Technical Skills

Technical skills refer to the knowledge and proficiency in specific tasks, tools, methods, or processes related to one’s work. These skills are most essential for lower-level managers who

 

 

Q3. Explain the Henri Fayol’s 14 principles of management. 10            

Ans 3.

Fayol’s Principles

Henri Fayol, a French industrialist, introduced fourteen principles that form the foundation of modern management theory. Fayol believed that good management is essential for organizational success, and these principles provide guidance for managing resources, people, and activities effectively.

Division of Work

Fayol emphasized specialization. When tasks are divided among individuals, each person

 

 

 

Set – 2

 

Q4. Differentiate between Centralization and Decentralization in an organisation. 10

Ans 4.

Centralization and decentralization are two important approaches that determine how authority, decision-making power, and responsibility are distributed within an organization. Both approaches influence communication flow, managerial control, speed of decision-making, and employee involvement. Understanding the difference between them helps

 

 

Q5. Explain the steps involved in the selection process of the employees in an organization. 10        

Ans 5.

The employee selection process is one of the most important functions of human resource management. It ensures that the organization receives capable, skilled, and suitable candidates who can perform job tasks effectively. A systematic selection process reduces hiring errors, improves productivity, and strengthens organizational culture.

Step 1: Job Analysis and Preparing Job Description

Before beginning the selection process, the HR department conducts job analysis to

 

 

Q6. Planning is looking ahead, while Controlling is looking back. Explain this statement. 10        

Ans 6.

The statement “Planning is looking ahead, while Controlling is looking back” highlights the relationship between two important managerial functions. Planning prepares the organization for future activities, while controlling evaluates past performance to ensure goals are achieved. Both functions are closely connected and essential for effective management.

Meaning of Planning: Looking Ahead

Planning involves deciding in advance what needs to be done, how it should be done, and