Monday, 12 February 2018

ISBM Subject: Business Management

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Name: Leema Noori                                                                                                                       Marks : 80
Course: Specialisation
Subject: Business Management

Answer the following question.

Question. 1. How do you select an employee or a partner for expansion activities (10 marks)

Answer: Recruitment and selection of paraprofessionals and uncertified teachers is made easier by their status as employees in the partner district. By using the district’s established channels of communication, the program can readily publicize its existence to potential participants from these two pools. A further advantage is that district and school personnel have some familiarity with potential candidates. Their direct knowledge of

Question. 2. Differentiate between partnership and joint Hindu family (10 marks)

Answer: HSC – Organization of Commerce and Management – Notes, & Distinguish Between – according to the New Textbook. Difference between joint hindu family business and partnership.

Basis of Difference
Partnership Firm
Joint Hindu Family Firm

Question. 3. Explain Modernization (10 marks)

Answer: Modernization theory is used to explain the process of modernization within societies. Modernization refers to a model of a progressive transition from a 'pre-modern' or 'traditional' to a 'modern' society. Modernization theory originated from the ideas of German sociologist Max Weber (1864–1920), which provided the basis for the modernization paradigm developed by Harvard sociologist Talcott Parsons (1902–1979). The theory looks at the internal factors of a country while assuming that with assistance, "traditional" countries can

Question. 4. Give the functions of the cash department (10 marks)

Answer: Cash Department is the most important part of General Banking. Cash department should be placed in a branch from where manager can watch everything from his table either clients or the vault. It is the most important department of the bank since from desk cash department has direct interaction with customers. Usually cash department receives and pays cash directly which work as a media to communicate with the clients. In the Islami Banking Branch I have got acquainted with cash receiving and cash payment procedures. Some register books uses in the cash department are mentioned bellow:

Question. 5. Give advantages of sole tradership. (10 marks)

Answer: The most common and simplest form of business is a sole proprietorship. Many small businesses operating in the United States are sole proprietorships. An individual proprietor owns and manages the business and is responsible for all business transactions. The owner is also personally responsible for all debts and liabilities incurred by the business. A sole proprietor can own the business for any duration of time and sell it when he or she sees fit. As owner, a sole proprietor can even pass a business down to his or her heirs.

Question. 6. Compare administration versus management. (10 marks)

Answer: Management Vs AdministrationSimply put, management can be understood as the skill of getting the work done from others. It is not exactly same as administration, which alludes to a process of effectively administering the entire organization. The most important point that differs management from the administration is that the former is concerned

Question. 7. Discuss Management as art or science (10 marks)

Answer: Management is Science because of several reasons like - it has universally accepted principles, it has cause and effect relationship etc, and at the same time it is art because it requires perfection through practice, practical knowledge, creativity, personal skills etc.

Management is both an art and a science. Management combines features of both science as well as art. It is considered as a science because it has an organized

Question. 8. Explain setting up a new project (10 marks)

Answer: The key to a successful project is in the planning. Creating a project plan is the first thing you should do when undertaking any project.

Often project planning is ignored in favour of getting on with the work. However, many people fail to realise the value of a project plan for saving time, money and many problems.

This article looks at a simple, practical approach to project

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