✓ Board-verified
Business Studies · 2025 · 6 marks
CBSE 2025 · Region 4 · Set 3 · Q31
(a) ‘There are different objectives in an organisation and management has to achieve all objectives in an effective and efficient manner.’ In the…
‘There are different objectives in an organisation and
management has to achieve all objectives in an effective and
efficient manner.’
In the light of this statement, explain the organisational, social
and personal objectives of management.
Art is the skillful and personal application of existing
knowledge to achieve desired results.'
In the light of this statement, compare the basic features of
‘Art’ with ‘Management’ and state whether it is an ‘Art’ or not.
Marking-scheme solution
Management seeks to achieve various objectives. These are:
(i)
Organisational objectives
The main objective of any organization should be to utilize
human and material resources to the maximum possible
advantage to fulfil the economic objectives of a business.
These are:
(a)
Survival- For the survival of the business, management
must strive to earn enough revenues to cover costs.
(b)
Profit- Mere survival is not enough, so the management
has to ensure that organisation earns a profit which is essential
for covering cost and risk of the business.
(c)
Growth- A business needs to add to its prospects in the
long run, hence management must exploit fully the growth
potential of the organization to remain in the industry.
(ii)
Social objectives
It refers to consistently creating economic value for various
constituents of society.
This includes using environmental friendly methods of
production, giving employment opportunities to the
underprivileged sections of society and providing basic
amenities like schools and healthcare etc.
(iii)
Personal objectives
People working in the organisations have diverse needs like
financial needs, social needs and higher level needs.
Management aims to reconcile personal goals with
organizational objectives for harmony in the organisation
OR
Art is the skillful and personal application of existing knowledge to
achieve desired results. Management is an art because of the
following reasons:
(i)
Existence of theoretical knowledge
Art presupposes the existence of theoretical knowledge on
the basis of which certain basic principles have been
derived.
In management too, there is a lot of literature available in various
areas of management like marketing, finance and human resources
which the manager has to specialise in.
(ii)
Personalised application
Art is personalized application of theoretical knowledge which
varies from individual to individual.
In management too, a manager applies this acquired knowledge in
a personalised and skillful manner in the light of the realities of a
given situation. He studies critical situations and formulates his
own theories for use in a given situation. This gives rise to
different styles of management.
(iii)
Based on practice and creativity
Art involves the practice of existing theoretical knowledge in a
creative manner that is entirely the own interpretation of an artist.
In management too, a manager, in his own unique manner, works
through a combination of practice, creativity, imagination,
initiative and innovation and achieves perfection after long
practice.
As all the criteria of art are satisfied by management, it is an art.
All Nature and Significance of Management questions2025 question paperPractice Nature and Significance of Management →
More from Nature and Significance of Management
- State any four characteristics of management. OR State any four functions performed by top level managers.2026
- Different organisations have different goals. 'Zeepo' is an upcoming retail chain for providing consumer goods door-to- door, the objective of this…2023
- State any three points of importance of Management. OR State any three objectives of Management.2026
- Explain any three points of importance of management. OR Explain the following principles of general management: (i) Division of work (ii) Authority…2025
- Management has its own vocabulary of terms and concepts. Managers need to communicate with one another with the help of a common vocabulary for the…2023
- Due to severe winter and rising pollution levels, ‘Green India Electronics’ planned to launch a new eco-friendly heater in the market. It conducted a…2026
- Explain the following characteristics of management: (i) Management is a group activity (ii) Management is a dynamic function (iii) Management is…2023
- State any three functions of operational level management. OR State any three points of importance of management.2026
CBSE Class 12 Business Studies past-paper question from the 2025 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.