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Accounting for not-for-profit organisation

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Class 10 Class 12

What is meant by management? 

Management is the act of getting people together to accomplish desired goals and objectives using available resources effectively and efficiently.

At which level of management are the managers responsible for the welfare and survival of the organisation?

It is at the top level management, managers are responsible for the welfare and survival of the organisation.

Your grandfather has retired as the Director of a manufacturing company. At which level of Management was he working? Different type of functions are performed at this level. State anyone function.

As he retired as director of company, he belongs to top level management. The functions performed at this level include strategic decision making.

What is ‘coordination’? How it ‘integrates group efforts’ and ‘ensures unity of action’?

Coordination is the essence of management for the achievement of harmony of individual efforts towards the accomplishment of group goals. It is an orderly synchronisation of individual efforts in a proper manner that the organisational efforts can be achieved efficiently and effectively.
Integrates group efforts: The concept of coordination always applies to group efforts. There is no need for coordination when only single individual is working. The need for orderliness, integration arises only when more individuals are working as different individuals come from different backgrounds, have different styles of working so there is need to unify their efforts in common direction.
Ensures unity of action: Coordination always emphasises on unifying the actions of different individuals.. The main aim of every manager is to coordinate the activities and functions of all individuals to common goal.

Identify the nature of management when it is said to be systematised body of knowledge that explain certain general truths.

Like science, management has a systematised body of knowledge which has its own theory and principles that have developed over a period of time. Since it is drawn from repeated experimentation and observation in different types of organisations, it explains some general truth.