12th Class Business Studies Sample Paper Business Studies Sample Paper-2

  • question_answer
    "Management is skillful and personal application of existing knowledge to achieve desired results." Explain.

    Answer:

    The above statement highlights the nature of management as an art, which is clarified by the following points: (i) There is a lot of literature available in various areas of management like marketing, finance, etc which the manager needs to specialise in. (ii) A manager applies scientific methods and body of knowledge to a given situation, issue or problem in his own unique manner. (iii) A successful manager practices the art of management in the day-to-day activities of managing an enterprise based on studies, observation and experience. Thus, we can conclude that management is an art.


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