OCM 12th Commerce pdf

Dear Friends,

Welcome to OCM 12th Commerce Maharashtra Board webpage!

Here you will find all the required study material for the preparation of your HSC Board Exam for the subject Organization of Commerce and Management (OCM).

You can download,

1. OCM Textbook PDF (English & Marathi)

2. OCM Notes 

3. OCM Questions and Answers

You can watch videos on,

1. OCM  HSC Paper Pattern

2. OCM Chapter wise Weightage

3. OCM IMP Question Bank

4. Many more

You can read short notes on each chapter

12th OCM English Medium Textbook Pdf Download here

12th OCM Marathi Medium Textbook Pdf Download here

You will get a complete Textbook Pdf free of cost from where you can download your copy.

Buy Textbooks Online Here

OCM Question Bank 2023 Maharashtra Board

OCM Paper Pattern HSC Maharashtra Board

OCM Chapter Wise Weightage

Index

Sr. No.	Chapter Name	Notes	Videos	Questions / MCQ
1	Principles of Management	Click	Click	Click Summary
2	Functions of Management	Click	Click	Summary
3	Entrepreneurship Development	Click	Click	Summary
4	Business Services	Click	Click	Summary

Chp. No. 1 Summary of Principles of Management :

Definition: 

"Principle is defined as a fundamental truth that serves as the guidelines for an organization."

 

Nature of Principles of Management: 

1. Universal application 

2. General guidelines 

3. Principles are formed by practice and experiments 

4. Flexibility 

5. Behavioral in nature 

6. Cause and effect relationship 

7. All principles are of equal importance 

Significance of Management Principles: 

1. Provides useful insight to managers 

2. Helpful in efficient utilization of resources 

3. Scientific decisions 

4. Understanding social responsibility 

5. Encourages Research and development (R and D) 

6. Helps to coordinate and control 

7. Develops objective approach 

Theories of Management: 

Management theories are the set of general rules that guide the managers to manage an organization. 

1) Henry Fayol's Administrative Theory of Management (1841-1925) Henry Fayol is called as a "Father of Modern Management." 

Henry Fayol's 14 Principles of Management: 

1. Division of Work         

2. Authority and Responsibility     

3. Discipline 

4. Unity of Command      

5. Unity of Direction 

6. Subordination of individual interest into organizational interest

7. Centralization             

8. Remuneration                         

9. Scalar Chain 

10. Order                     

11. Equity                                 

12. Stability of Tenure 

13. Initiative                 

14. Esprit de corps

2) Fredrick Taylor's Scientific Management Theory (1856-1915) Fredrick Taylor is known as "Father of Scientific Management." 

Principles of Scientific Management: 

1. Science, Not Rule of Thumb 

2. Harmony, Not Discord 

3. Mental Revolution 

4. Cooperation, Not Individualism 

5. Division of responsibility 

6. Development of employer and employees for greater efficiency and maximum prosperity 

Techniques of Scientific Management: 

1. Work Study: A) Time Study B) Method Study C) Motion Study D) Fatigue Study

2. Standardization of Tools and Equipments 

3. Scientific Task Setting 

4. Scientific Selection and Training 

5. Functional Organization 

6. Differential Piece Rate Wage Plan

Go to Index

Chp. No. 2 Summary of Functions of Management :

Every organization needs to focus on managerial functions. These are pervasive in nature. Managing all business activities involves a decision-making process. The management functions start with planning and end with controlling. Then again start with Planning. This cycle keeps running.

The goal of the organization should be achieved within a decided period with the help of plans and policies. 

Management functions are listed in short as follows: 

1. Planning: 

It is the fundamental, basic and primary function that gives answers to what, when, where and how. It reduces the risk of an uncertain future with the help of forecasting. 

2. Organizing: 

The arrangement, synchronization and combination of manpower, physical, financial and information resources are established in the process of organizing. 

3. Staffing: 

It is the process of attracting, recruiting, selecting, placing, appraising, remunerating, developing and retaining the best workforce (manpower). 

4. Directing: 

It refers to a process or technique of instructing, guiding, inspiring, counselling, overseeing and leading people towards the accomplishment of organizational goals. 

5. Coordinating: 

It is the integration and synchronization of the efforts of group so as to provide unity of action for organizational goals.

6. Controlling: 

It is a process of comparing the actual performance with the predetermined standard performance. It measures deviation (change) if any, identifies the cause of deviation and suggests corrective measures. 

Go to Index

Chp. No. 3 Entrepreneurship Development

Meaning :

Entrepreneurship is a purposeful activity of an individual or a group of individuals who undertake the production and distribution of goods and services.

Entrepreneurs are innovators. They are owners, producers, market creators, decision-takers and risk-takers.

Entrepreneurs are considered as the fourth 'Factor of Production' along with land, labor and capital. They generate employment opportunities so they are the backbone of the nation's economic progress. They play a very important role in the development of any country.

Characteristics of an Entrepreneur:

1. Intellectual Capabilities 

2. Future Foresight

3. Hard Work 

4. Technical Knowledge

5. Communication Skills 

6. Highly Optimistic

7. Risk taking capacity 

8. Self Confidence

 

Qualities of a Successful Entrepreneur:

1. Disciplined 

2. Confidence

3. Open Minded 

4. Self Starter

5. Competitive 

6. Creativity

7. Determination 

8. Strong communication skills

9. Strong work ethic 

10. Passion

Functions of an Entrepreneur:

1. Innovation

2. Determination of Objectives

3. Development of Market 

4. New Technology

5. Good relations 

6. Organising funds

7. Taking decisions

8. Entrepreneurship Development

Characteristics of Entrepreneurship:

1. Innovation 

2. Economic activity

3. Organisation building 

4. Creative activity

5. Managerial skill and leadership 

6. Skillful management

7. Risk bearing 

8. Gap filling function

Process of Entrepreneurship Development:

1. Training

2. EDP

Recent initiatives in Entrepreneurship Development:

Start Up India

Stand Up India

Agro Tourism

Intrapreneurs - 

An intrapreneur is an employee who has the authority and support of his company/employer to implement his own innovative and creative ideas.

Tata Motors, Infosys Technologies etc. are some companies which encourage intrapreneurship.

Go to Index

Chp. No. 4 Business Services

Business Services:

1. Banking

2. Insurance

3. Transport

4. Warehousing 

5. Communication 

1. Banking: Types of Banks:

1. Central Bank

2. Commercial Bank

3. Co-operative Bank

4. Development Bank 

5. Exchange Banks

6. Regional Rural Bank

7. Savings Bank

8. Investment Bank 

Functions of commercial banks:

I. Primary Functions

II. Secondary Functions 

2. Insurance: Principles of Insurance: 

1. Principle of Utmost good faith 

2. Principle of insurable interest 

3. Principle of Indemnity 

4. Principle of Subrogation 

5. Principle of Contribution 

6. Principle of Mitigation of loss  7. Principle of Causa-Proxima

Types of Insurance:

1. Life Insurance

2. Marine Insurance

3. Fire Insurance 

3. Transport: Modes of Transport:

1. Road Transport

2. Rail Transport

3. Water Transport

4. Air Transport 

5. Monorail and Metro

6. Ropeways

7. Pipeline 

4. Warehousing: Functions:

1. Storage

2. Price Stabilization

3. Risk bearing

4. Financing 

5. Grading and Packing

6. Transportation

7. Time and Place Utility

8. Processing 

Types:

1. Private Warehouses

2. Public Warehouses

3. Bonded Warehouses

4. Duty-paid Warehouses

5. Government Warehouses

6. Co-operative Warehouses

7. Cold storage Warehouses 

5. Communication: Types of communication:

I) Postal Services

1. Mail Services

2. Specialised Mail Services 

3. Money Remittance Services

4. Retail Services 

II) Modern means of communication

1. Courier Service

2. Internet

3. Email