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Yes, the management contains all the features of the art.

i. Restricted Entry.

ii. Ethical Code of conduct.

The features of management that do not establish it as a profession are:

(i) Restricted entry: The entry to a profession is restricted through a prescribed qualification. But there is no restriction on anyone being appointed as a manager in any business enterprise.

(ii) Professional association: All professions are affiliated to a professional association which regulates entry grants certificate of practice. There is no compulsion for managers to be members of such an association.

(iii) Ethical code of conduct: All professions are bound by a code of conduct which guides the behaviour of its members.

AIMA has devised a code of conduct for Indian managers but there is no statutory backing for this code.

(iv) Service motive: The motive of a profession is to serve their client's interests by rendering dedicated and committed service.

The basic purpose of management is to help the organisation achieve its stated goal which may be profit maximization. However, profit maximization as the objective of management does not hold true and is fast changing. So, presently this feature of profession is not fully present in management.

(Note: In case an examinee has combined 'professional association' and 'ethical code of conduct', full credit be given).

a. Existence of Theoretical Knowledge

b. Personalised Application.

D. Both ‘A’ and ‘B’

D. Both ‘A’ and ‘B’

It is a process of bringing together physical, financial and human resources. Organizing is to provide with everything useful for functioning of business, i.e., Raw materials, tools, capital and labor.

The two dimensions of management are: 

a. Management of people. 

b. Management of work.

Staffing is a function of managing organizational structure. Due to advancement of technology, increase in size of business, and complexities of human behavior staffing had assumed greater importance.

 No, he is not efficient because he had achieved the target but at a higher cost.

Organizational objectives.

Management is a universal activity and integral part of an organization. 

The importances of management are:

1. Achievement of organizational goal: Management helps to achieve group goal. It directs group efforts towards achievement & integrates men, money & material of organization to attain its objective.

2. Reduce cost of production: management aims at increasing efficiency to maximize profit with minimum costs. Management avoids wastages by directing day to day operations. 

3. Survival & growth of organization: management helps an organization to face the tough competition and survive in the changing environment. By better planning, organizing, staffing, directing and controlling management helps the organization to adopt itself to the changing need of the society. 

4. Achieving personal objective: Management creates a good environment to the workers. It helps individual employees to achieve their personal objective through motivation, commitment & team spirit.

5. Prosperity of the society: An effective management accepts its commitments towards workers, investors, customer & society. It provides better quality of goods & services, generates employment avenues, Adopts new technology for the welfare and growth of the society.

There is no restriction on anyone being designated or appointed as manager in any business.

Sales Manager, Finance Manager, Marketing Manager etc arc the examples of middle ever management.

The two level of management are : 

(a) Top level 

(b) Middle level 

The level of management determines the chain of command & amount of authority of managerial positions.

These are also known as plastic money. They are very important in an online transaction. A credit card gives the facility of credit buying to the holder, while the debit card allows the user to buy up to that limit to which credit balance remains in his account.

Controlling refers to the measurement of actual performance against the standard set. Purpose of controlling is to ensure that everything occur in accordance with set standards.

In every organisation a scalar chain is created from the highest officer to the lowest employees. This chain explains the superior-subordinate relationship. Under this chain, there is a vertical relationship between one person and the other person. Thus, it creates many managerial posts which are known as levels of management. These levels of management lay down the powers of the managers. Thus, the term level of management refers to a line of demarcation between various management positions in an organisation.

It is the folder that contains the detail of the products that are offered online for sale. It is also known as a shopping trolley.

All financial transactions are done through mobile phone in mobile commerce application, i.e., making payment for a product through the E-cash method or transfer of money between two accounts or paying money for a purchase.

• Cash payment on delivery. 
• Cheque payment on delivery. 
• Net banking transfer. 
• Credit or Debit Card
• Digital Cash

Before 1979, the Internet was known as ARPANET.

Propaganda and publicity information

• Pre-sale-purchase stage. 
• Sale-purchase stage. 
• Delivery stage.

The importance of management is 

(i) Management helps in achieving group goals: 

(a)Management is required not for itself but for achieving the goals of the organisation. 

(b)The task of a manager is to give a common direction to the individual effort in achieving the overall goal of the organization 

(ii) Management increase efficiency: 

(a)The aim of the manager is to reduce cost and increase productivity through better planning, organizing, directing, staffing and controlling the activities of the organization 

(b)A manger increase efficiency also through the optimum utilization of all the resources’ such as Man, Machine, Material and money 

(iii) Management creates a dynamic organisation: 

(a)Organizations have to survive in dynamic environment so managers keep making changes in the organisation to match the environmental changes. 

(iv) Management helps in achieving personal objectives:

(a) A manager motivates and leads his team in such a manner that an individual member is able to achieve personal goals while contributing to the overall organizational objective. 

(V) Management helps in the development of the society: 

Management helps in the development of an organisation and through that it helps in the development of the society.

Middle level management. Its 4 functions are: 

(i) Interpreting policies: At this level, policies framed by top level managers are interpreted. Middle management is responsible for implementing and controlling plans and strategies developed by top managers 

(ii) Organising activities: Middle level managers organise the activity of their department for executing the plans and policies. Middle level managers are the head of some department. Like they are responsible for the activities of first line managers. 

(iii) Necessary personal: Middle level managers ensure that their department has necessary personnel. For this, they recruit and select suitable employees for their department. 

(iv) Motivate subordinates: The middle level management motivate the subordinates to perform to their best ability. The middle level managers offer various incentives to employees so that they get motivated and perform to their best ability. 

Characteristics of Co-ordination:

(a) Integrates group efforts

(b) Ensures unity of action

(c) Continuous process

(d) Pervasive function

(e) Responsibility of all managers

(f) Deliberate function

Detailed Answer

Characteristics of Co-ordination:

(a) Co-ordination integrates group efforts: Coordination unifies unrelated or diverse interests into purposeful work activity. It gives a common focus to the group efforts to ensure that performance is same as it was planned and scheduled.

(b) Co-ordination ensures unity of action: The purpose of co-ordination is to secure unity of action in the realization of a common purpose. It acts as the binding force between different departments and ensures that all action is aimed at achieving the goals of the organisation.

(c) Co-ordination is a continuous process: Coordination is not a one-time function but a continuous process. It begins at the planning stage and continues till controlling.

(d) Co-ordination is an all pervasive function: Co-ordination is required at all levels of management due to the interdependent nature of activities of various departments. It integrates the efforts of different departments and different levels.

(e) Co-ordination is the responsibility of all managers: Co-ordination is the function of every manager in the organisation. Top level managers need to co-ordinate with their subordinates to ensure that the overall policies of the organisation are duly carried out. Middle level management co-ordinates with both the top level and the first line managers. Operational level management coordinates the activities of its workers to ensure that work proceeds according to the plans.

(f) Co-ordination is a deliberate function: A manager has to co-ordinate the efforts of different people in a conscious and deliberate manner. Even where members of a department willingly co-operate and work, co-ordination gives a direction to that willing spirit. Co-operation in the absence of co-ordination may lead to a wasted effort and co-ordination without co-operation may lead to dissatisfaction among employees.

• The sphere of e-business is more extensive as compared to e-commerce. 
• E-business includes sale-purchase, providing services to customers and cooperating with partners, while e-commerce includes transactions like www and internet.

The franchisee can be divided into three parts: 

1. Small-sized franchisee – Those franchisees whose sphere is limited to one city, town or block. 

2. Medium-sized franchisee – These are limited to one or more than one district. 

3. Large-sized franchisee – Those franchisees whose sphere extends to regional or metropolitan level.

Four characteristics of profession are given below:

(i) Restricted entry: The entry to a profession is restricted through a prescribed qualification. But there is no restriction on anyone being appointed as a manager in any business enterprise. So, presently this feature of profession is not present in the management.

(ii) Professional association: All professions are affiliated to a professional association which regulates entry, grants certificate of practice and formulates and enforces a code of conduct. There are several associations of practising managers in India, like the AIMA that has laid down a code of conduct to regulate the activities of their members.

There is, however, no compulsion for managers to be members of such an association. So, presently this feature of profession is not present in the management.

(iii) Ethical code of conduct: AII professions are bound by a code of conduct which guides the behaviour of its members. AIMA has devised a code of conduct for Indian managers but there is no statutory backing for this codes. So, presently this feature of profession is not present in the management.

(iv) Service motive: The motive of a profession is to serve their client's interests by rendering dedicated and committed service. The basic purpose of management is to help the organisation achieve its stated goal. If an organisation has a good management team that is efficient and effective, it automatically senses society by providing good quality, products at reasonable prices. So presently this feature of profession is not fully present in the management.

• Contracting outside 
• Entrusting Secondary (non-vital) business activities only.

Following are the responsibilities of a partner of a franchisee: 

• The franchiser has the important issues of protection of its trademark, control of business concept, and protection of technical know-how to deal with.
• The franchisees have to be given those services for which trademark is made and has become famous. 
• The symbols, logos and trademark of the franchisee have to be displayed at prominent places at the service location. 
• The employees must wear a specifically-coloured uniform.

Contract Act 1872 and special allowance Act 1963.

In the United States of America

There are those franchisees whose sphere is limited to one city, town or block.

E-mail is one assistance provided by the Internet to its users.

The special benefit to a franchisee in franchising is that he can launch his business quickly on the available trademark and he also does not need to build up the resources and basic infrastructure.

• Contract Creation. 
• Contract Research. 
• Contract Marketing. 
• Information Science.

Importance of Management:

(a) Helps in achieving group goals.

(b) Increases efficiency.

(c) Creates a dynamic organisation.

(d) Helps in achieving personal objectives.

(e) Helps in the development of society.

Detailed Answer

(a) Management helps in achieving group goals: Management is required not for itself but for achieving the goals of an organisation. The task of a manager is to give a common direction to the individual effort in achieving the overall goal of an organisation.

(b) Management increases efficiency: The aim of a manager is to reduce costs and increase productivity through better planning, organising, directing, staffing and controlling the activities of an organisation.

(c) Management creates a dynamic organisation: All organisations have to function in an environment which is constantly changing. It is generally seen that individuals in an organisation resist change. Management helps people adapt to these changes so that the organisation is able to maintain its competitive edge.

(d) Management helps in achieving personal objectives: A manager motivates and leads his team in such a manner that individual members are able to achieve personal goals while contributing to the overall organisational objective. Through motivation and leadership, management helps individuals to develop team spirit, co-operation and commitment to the group success.

(e) Management helps in the development of society: An organisation has multiple objectives to serve the purpose of the different groups that constitute it. In the process of fulfilling all these, management helps in the development of the organisation and through that it helps in the development of a society. It helps to provide good quality products and services, creates employment opportunities, adopts new technology for the greater good of the people and leads the path towards growth and development.

The process of selling or buying products or services using a wireless hand-held device, like a cellular phone, personal digital assistant, etc. is called mobile commerce.

• Reduction in cost. 
• Use of External expertise.

The system of using a successful business model of another firm is called franchising.

• Lack of Secrecy.
• Contract-related problems.

(d) All of the above

• No personal contact
• Includes more risk.

Self-company.

(d) a mutual contract between various departments of a business

The online, commercial activities of providing products and services to the customers are called E-Commerce. It is a synthesized form of communication technology and information that is involved in business transactions.

In this type, the transaction takes place between consumers through a third party. For example, online auction, in which, the consumer sends an item for sale on the internet and other consumer makes bids to buy it, while a third party generally charges a service fee or commission to arrange and conduct the transaction. Examples are – OLX, ebay.com.

• Subway sandwich and salad.
• McDonald’s, Re-fresco, Cafe Coffee Day