Class XII KEYWORDS TO UNDERSTAND BUSINESS STUDIES TERMS

CLASS XII BUSINESS STUDIES---------- KEYWORDS
MANAGEMENT	CONCEPT OF MANAGEMENT	PROCESS OF GETTING THINGS DONE WITH THE AIM OF ACHIEVING GOALS EFFICIENTLY AND EFFECTIVELY
COORDINATION	CONCEPT OF MANAGEMENT	BINDING FORCE,COMMON THREAD,SYNCRONISATION OF ACTIVITIES,IMPLICIT AND INHERENT IN ALL FUNCTION OF MANAGEMENTS OF MANAGEMENT
PRINCIPLES OF MANAGEMENT	CONCEPT OF MANAGEMENT
SCIENCE NOT RULE OF THUMB	CONCEPT OF MANAGEMENT	ONE BEST METHOD TO MAXIMISE EFFICIENCY DEVELOPED THROUGH STUDY AND ANALYSIS
HARMONY NOT DISCORD	CONCEPT OF MANAGEMENT	COMPLETE HARMONY BETWEEN THE MANAGEMENT AND WORKERS, BOTH REALISED EACH ONE IS IMPORTANT
COOPERATION NOT INDIVIDUALISM	CONCEPT OF MANAGEMENT	EXTENSION OF HARMONY NOT DISCORD,COMPETITION REPLACED BY COOPERATION, ALMOST EQUAL DIVISION OF WORK
DEVELOPMENT OF EACH AND EVERY PERSON TO HIS OR HER GREATEST EFFICIENCY	CONCEPT OF MANAGEMENT	WORKER TRAINING AND DEVELOPMENT,CONCERN FOR EFFICIENCY COULD BE BUILT IN RIGHT FROM THE PROCESS OF EMPLOYEE SELECTION
FUNCTION OF MANAGEMENTAL FOREMENSHIP	CONCEPT OF MANAGEMENT	SEPERATION OF PLANNING AND EXECUTION FUNCTION OF MANAGEMENT,EXTENSION OF DIVISION OF WORK,
STANDARDISATION AND SIMPLIFICATION OF WORK	CONCEPT OF MANAGEMENT	STANDARDISATION- PROCESS OF SETTING STANDARD; DEVISING NEW VARIETIES INSTEAD OF OLD ONES SIMPLIFICATION- ELIMINATING SUPERFLOUS VARIETIES, SIZES, DIMENSIONS
METHOD STUDY	CONCEPT OF MANAGEMENT	ONE BEST WAY OF DOING JOB,
MOTION STUDY	CONCEPT OF MANAGEMENT	STUDY OF MOVEMENTS, ELIMINATION OF UNNECESSARY MOVEMENTS
TIME STUDY	CONCEPT OF MANAGEMENT	STANDARD TIME TAKEN TO PERFORM A WELL DEFINED JOB
MENTAL REVOLUTION	CONCEPT OF MANAGEMENT	CHANGE IN THE ATTITUDE OF WORKERS, CHANGE OF MINDSET
DIVISION OF WORK	CONCEPT OF MANAGEMENT	DIVISION INTO SMALL TASKS, INTENT IS TO PRODUCE MORE AND BETTER WORK FOR SAME EFFORT
AUTHORITY AND RESPONSIBILITY	CONCEPT OF MANAGEMENT	AUTHORITY- RIGHT TO GIVE ORDERS,AND  OBTAIN OBEDIENCE RESPONSIBILITY- COROLLARY OF AUTHORITY
DISCIPLINE	CONCEPT OF MANAGEMENT	OBEDIENCE TO ORGANISATIONAL RULES, EMPLOYMENT AGREEMENT,
UNITY OF COMMAND	CONCEPT OF MANAGEMENT	ONE BOSS, DUAL SUBORDINATION SHOULD BE AVOIDED
UNITY OF DIRECTION	CONCEPT OF MANAGEMENT	ONE HEAD ONE PLAN, PREVENTS OVERLAPPING OF ACTIVITIES
SUBORDINATION OF INDIVIDUAL INTEREST TO ORGANISATIONAL INTEREST	CONCEPT OF MANAGEMENT	INTERST OF ORGANISATION SHOULD TAKE PRIORITY OVER THE INTEREST OF INDIVIDUALS
REMUNERATION OF EMPLOYEES	CONCEPT OF MANAGEMENT	FAIR COMPENSATION FOR BOTH EMPLOYEES AND ORGANISATION
CENTRALISATION AND DECENTRALISATION	CONCEPT OF MANAGEMENT	CENTRALISATION- RETENTION OF DECISION MAKING AUTHORITY DECENTRALISATION- DISPERSAL OF DECISION MAKING AUTHORITY
SCALAR CHAIN	CONCEPT OF MANAGEMENT	CHAIN OF AUTHORITY AND COMMUNICATION
ORDER	CONCEPT OF MANAGEMENT	PLACE FOR EVERYTHING AND EVERYTHING IN ITS PLACE
EQUITY	CONCEPT OF MANAGEMENT	KINDLINESS AND JUSTICE IN THE BEHAVIOUR OF MANAGERS TOWARDS WORKERS
STABILITY OF PERSONNEL	CONCEPT OF MANAGEMENT	EMPLOYEE TURNOVER SHOULD BE MINIMISED TO MAINTAIN ORGANISATIONAL EFFICIENCY
INITIATIVE	CONCEPT OF MANAGEMENT	TAKING FIRST STEP WITH SELF MOTIVATION
ESPIRIT DE CORPS	CONCEPT OF MANAGEMENT	TEAM SPIRIT
BUSINESS ENVIRONMENT	CONCEPT OF MANAGEMENT	SUM TOTAL OF ALL INDIVIDUALS , INSTITUTIONS AND OTHER FORCES OUTSIDE THE ORGANISATION BEYOND CONTROL,
PLANNING	FUNCTION OF MANAGEMENT	SETTING OBJECTIVES AND DEVELOPING APPROPRIATE COURSE OF ACTION TO ACHIEVE OBJECTIVES,
OBJECTIVES	CONCEPT OF MANAGEMENT	END RESULT OF ACTIVITIES
STRATEGY	CONCEPT OF MANAGEMENT	COMPREHENSIVE PLAN FOR ACHIEVING OBJECTIVES
POLICY	CONCEPT OF MANAGEMENT	GENERAL STATEMENTS, DEFINE BROAD PARAMETERS
PROCEDURES	CONCEPT OF MANAGEMENT	ROUTINE STEPS, CHRONOLOGICAL ORDER,
METHOD	CONCEPT OF MANAGEMENT	PRESCRIBED WAYS OR MANNER , DEALS WITH A TASK COMPRISING ONE STEP OF PROCEDURE
RULE	CONCEPT OF MANAGEMENT	SPECIFIC STATEMENTS
PROGRAMME	CONCEPT OF MANAGEMENT	DETAILED STATEMENTS
BUDGET	CONCEPT OF MANAGEMENT	NUMERICAL TERMS
ORGANISING	FUNCTION OF MANAGEMENT	EFFORTS ARE DIRECTED TOWARDS THE ATTAINMENT OF GOALS LAID DOWN IN PLANNING IN SUCH A MANNER THAT RESOURCES ARE USED OPTIMALLY AND PEOPLE ARE ABLE TO WORK COLLECTIVELY AND EFFECTIVELY.
FUNCTION OF MANAGEMENTAL STRUCTURE	CONCEPT OF MANAGEMENT	GROUPING OF JOBS OF SIMILAR NATURE UNDER FUNCTION OF MANAGEMENTAL, ALL DEPARTMENT REPORT TO A COORDINATING HEAD
DIVISIONAL STRUCTURE	CONCEPT OF MANAGEMENT	MORE THAN ONE PRODUCT, SEPARATE UNITS OT DIVISIONS
FORMAL ORGANISATION	CONCEPT OF MANAGEMENT	SPECIFIES CLEARLY THE AUTHORITY AND RESPONSIBILITY
INFORMAL ORGANISATION	CONCEPT OF MANAGEMENT	NETWORK OF SOCIAL RELATIONSHIP AMONG RELATIONSHIP
DELEGATION	CONCEPT OF MANAGEMENT	DOWNWARD TRANSFER OF AUTHORITY
RESPONSIBILITY	CONCEPT OF MANAGEMENT	OBLIGATION OF A SUBORDINATE TO PROPERLY PERFORM THE ASSIGNED DUTY
ACCOUNTABILITY	CONCEPT OF MANAGEMENT	BEING ANSWERABLE FOR FINAL OUTCOME
STAFFING	FUNCTION OF MANAGEMENT	OBTAINING , UTILISING , MAINTAINING A SATISFACTORY AND SATSIFIED WORKFORCE.
MANPOWER REQUIREMENT	CONCEPT OF MANAGEMENT	WORKLOAD ANALYSIS  AND WORKFORCE ANALYSIS
RECRUITMENT	CONCEPT OF MANAGEMENT	SEARCHING FOR PROSPECTIVE EMPLOYEESAND STIMULATING THEM TO APPLY FOR JOBS
SELECTION	CONCEPT OF MANAGEMENT	PROCESS OF CHOOSING FROM AMONG POOL OF PROSPECTIVE JOB CANDIDATES DEVELOPED AT THE STAGE OF RECRUITMENT.
PLACEMENT AND ORIENTATION	CONCEPT OF MANAGEMENT	PLACEMENT- JOINING A JOB ORIENTATION- INTRODUCING THE SELECTED EMPLOYEE TO OTHER EMPLOYEES
DEVELOPMENT	CONCEPT OF MANAGEMENT	LEARNING OPPORTUNITIES DESIGNED TO HELP EMPLOYEES GROW WELL.
APPRENTICESHIP PROGRAMME- ON THE JOB	CONCEPT OF MANAGEMENT	PUT THE TRAINEE UNDER GUIDANCE OF A MASTER WORKER
COACHING- ON THE JOB	CONCEPT OF MANAGEMENT	INSTRUCTS THE TRAINEE AS A COACH,
INTERNSHIP-ON THE JOB	CONCEPT OF MANAGEMENT	JOINT PROGRAMME OF TRAINING IN WHICH EDUCATIONAL INSTITUTIONS AND BUSINESS FIRMS COOPERATE
JOB ROTATION-ON THE JOB	CONCEPT OF MANAGEMENT	SHIFTING THE TRAINEE FROM ONE DEPARTMENT TO ANOTHER
CLASS ROOM LECTURES- OFF THE JOB	CONCEPT OF MANAGEMENT	USE OF AUDIO VISUAL AIDS
COMPUTER MODELLING- OFF THE JOB	CONCEPT OF MANAGEMENT	COMPUTER LEARNING
VESTIBULE TRAINING- OFF THE JOB	CONCEPT OF MANAGEMENT	FOR MACHINES, ADOPTED TO HANDLE COMPLICATED AND SOPHISTICATED MACHINERY AND EQUIPMENTS
DIRECTING	FUNCTION OF MANAGEMENT	PROCESS OF INSTRUCTING, GUIDING, COUNSELLING, MOTIVATING, AND LEADING PEOPLE IN THE ORGANISATION.
SUPERVISION	CONCEPT OF MANAGEMENT	OVERSEEING THE ACTIVITIES, GUIDING THE SUBORDINATES
MOTIVATION	CONCEPT OF MANAGEMENT	INCITEMENT/ INDUCEMENT TO ACT OR MOVE, PROCESS OF MAKING SUBORDINATES TO ACT IN A DESIRED MANNER
PROFIT SHARING-FINANCIAL INCENTIVE	CONCEPT OF MANAGEMENT	SHARE OF PROFIT GIVEN TO EMPLOYEES
COPARTNERSHIP/STOCK OPTION- FINANCIAL INCENTIVES	CONCEPT OF MANAGEMENT	EMPLOYEES ARE OFFERED COMPANY SHARE AT A SET PRICE
PAY AND ALLOWANCES-FINANCIAL INCENTIVE	CONCEPT OF MANAGEMENT	BASIC PAY, DA,
STATUS- NON FINANCIAL INCENTIVE	CONCEPT OF MANAGEMENT	REWARDS, RESPONSIBILITY, RECOGNISITION
ORGANISATIONAL BENEFIT- NON FINANCIAL INCENTIVE	CONCEPT OF MANAGEMENT	AUTONOMY, REWARD ORIENTATION, CONSIDERATION TO EMPLOYEES, RISK TAKING
CAREER ADVANCEMENT- NON FINANCIAL INCENTIVE	CONCEPT OF MANAGEMENT	SKILL DEVELOPMENT PROGRAMME, SOUND PROMOTION POLICY
JOB ENRICHMENT- NON FINANCIAL INCENTIVE	CONCEPT OF MANAGEMENT	GREATER VARIETY OF WORK CONTENT,
EMPLOYEE RECOGNISITION PROGRAMME- NON FINANCIAL INCENTICE	CONCEPT OF MANAGEMENT	CONGRATS THE EMPLOYEE, DISPLAY ON NOTICE BOARD, AWARD OR CERTIFICATES FOR BEST PERFORMANCE, MEMENTOS,
EMPLOYEE PARTICIPATION- NON FINANCIAL INCENTIVE	CONCEPT OF MANAGEMENT	JOINT MANAGEMENT COMMITTES, WORK COMMITMENTS, CANTEEN COMMITMENTS
EMPLOYEE EMPOWERMENT- NON FINANCIAL INCENTIVE	CONCEPT OF MANAGEMENT	MAKES PEOPLE FEEL THAT THEY ARE IMPORTANT
LEADERSHIP	CONCEPT OF MANAGEMENT	PROCESS OF INFLUENCING THE BEHAVIOUR OF PEOPLE.
AUTOCRATIC/ AUTHORITARIAN LEADER	CONCEPT OF MANAGEMENT	LEADER GIVES OREDRS AND EXPECTS HIS SUBORDINATES TO OBEY THEM
DEMOCRATIC/PARTICIPATIVE LEADER	CONCEPT OF MANAGEMENT	LEADER PREPARE PLAN AND MAKES FINAL DECISION IN CONSULTATION WITH SUBORDINATES.
LAISESEZ FAIRE/FREE REIN LEADER	CONCEPT OF MANAGEMENT	GROUP MEMBERS WORK ON THEIR OWN TASKS RESOLVING ISSUES THEMSELVES, MANAGERS IS ONLY TO SUPPORT
FORMAL COMMUNICATION	CONCEPT OF MANAGEMENT	FLOWS THROUGH OFFICIAL CHANNEL,DESIGNED IN THE ORGANISATION CHART
INFORMAL COMMUNICATION	CONCEPT OF MANAGEMENT	WITHOUT FOLLOWING THE FORMAL LINES , GRAPEVINE
CONTROLLING	FUNCTION OF MANAGEMENT	ENSURING THE ACTIVITIES ARE ACCORDING TO PLAN,FINDING OUT DEVIATIONS BETWEEN STANDARD AND ACTUALS
CRITICL POINT CONTROL-CPC	CONCEPT OF MANAGEMENT	FOCUSING ON KEY RESULT AREAS,
MANAGEMENT BY EXCEPTION-MBE	CONCEPT OF MANAGEMENT	ATTEMPT TO CONTROL EVERYTHING RESULTS IN CONTROLLING NOTHING