AHSEC| CLASS 12| BUSINESS STUDIES| SOLVED PAPER - 2018| H.S. 2ND YEAR
2018
Business Studies
Full marks: 100
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1x10=10
(a) Which function of management ensures work accomplishment according to plan? 1
Ans:- Controlling function.
(b) Give one example of policy adopted by business enterprises? 1
Ans:- A business policy is that every employee should receive fair treatment at the workplace.
(c) Responsibility flows downward, (Indicate whether True or False) 1
(d) In which year NSE was established? 1
Ans:- In 1992.
(e) Which technique of scientific management violated the principle of ‘unity of command’? 1
Ans:- Functional foremanship.
(f) A decision is taken to raise capital for long term financial needs of a company from certain sources. What is this decision called? 1
Ans:- Financing decision.
(g) What is the other name of New Issue Market? 1
Ans:- The primary market.
(h) Which is the most risky capital for a company? 1
Ans:- Equity share capital.
2. What is strategy? 2
Ans:- As we have identified strategy refers to an organization's long-term goals or roadmap, and how it plans to reach them. Or, what path will the organization take toward its goals. In contrast, strategy refers to the specific set of actions taken to reach organizational goals or strategy.
3. What is planning premises? 2
Ans:- Planning is concerned with the future, which is uncertain and every planner is making predictions about what may happen in the future. Therefore, the manager needs to make some assumptions about the future. These assumptions are known as premises.
4. Write a short note on ‘return on investment’ as a mode technique of control. 2
Ans:- Return on investment estimates the losses and gains on the amount invested. ROI (Return on Investment) is usually expressed in percentage to analyze the profits of an organization or the earnings of various investments. In simple terms, return on investment estimates what you get back compared to what you invest.
5. Why principles of management are important? 2
Ans:- Application of management principles helps managers to take right decisions at the right time. These principles of management help managers to deal with diverse problems in the dynamic business environment.
6. Distinguish between delegation and decentralization authority. 2
Ans:- The differences between delegation and decentralization of authority are:-
(i) Decentralization refers to the distribution of power or decision-making authority away from the central authority, while delegation refers to the assignment of specific tasks or responsibilities to others.
(ii) While delegation retains authority, decentralization distributes it among many individuals or entities.
7. Write three limitations of planning. 3
Ans:- There are three limitations of planning:-
(i) Planning brings rigidity: A specific plan made in an organization clearly indicates the objectives to be achieved and the methods of working.
(ii) Planning cannot work in a dynamic environment: Business environment includes social, economic, legal and other factors which keep changing.
(iii) Planning reduces creativity: It is an activity, which is done by the top management and the rest of the members only implement these plans.
8. How dose technological environment influence the working of a business? 3
Ans:- Technological environment: It provides new and improved methods/techniques of production. A businessman should keep a close eye on the technological changes taking place in the industry as this helps in facing competition and improving the quality of the product. For example, digital watches in place of traditional watches, artificial clothes in place of traditional cotton and silk clothes, booking of railway tickets on the internet, etc.
Technological change can bring benefits and opportunities to businesses. Obviously, new technology can create new products and services, creating new markets for a business. Furthermore, improvements in technological products and processes can increase productivity and reduce costs.
9. Briefly explain three principles of directing. 3
Ans:- Directing as a function of management is quite complex. Some principles have been developed to assist in the guidance process. Following are the principles of direction:-
(i) Maximum Individual Contribution: According to this principle, a manager should use such directing techniques that motivate workers to perform to the best of their abilities.
(ii) Harmony of objectives: Often the objectives of an individual differ from the overall organizational objectives.
(iii) Unity of command: According to this principle, an individual should receive orders and instructions from one superior only. If an employee receives orders from more than one superior, it leads to confusion and conflict which leads to delay in work.
10. Explain the role of consumer organisations and NGOs in protecting the interests of consumers. 3
Ans:- Consumer organizations and NGOs are established or formed to protect and promote consumer interests. They perform the following functions:-
(i) To create awareness about consumer rights by organizing training programmes, seminars and workshops.
(ii) To provide information about consumer problems, legal reporting and reliefs available by magazines and publications.
(iii) To conduct comparative testing of consumer products in recognized laboratories and publish the results for the general benefit.
(iv) To encourage consumers to take action against any unfair or dishonest activity of the seller.
(v) To provide legal aid to consumers by providing assistance, advice, etc. to find legal remedies.
(vi) Filing complaints in appropriate courts on behalf of consumers.
(vii) To take the initiative to file litigation in the interest of the general public.
Or
Why entrepreneurship is regarded as a creative activity? Briefly explain. 3
Ans:- Entrepreneurship is a process of setting up one's own business by an individual. Entrepreneurship is considered a highly creative activity because it is said that entrepreneurship adds or creates 'value'. An entrepreneur creates a link between the raw materials and the products produced as per the needs of the society. Such process increases income and wealth. Even if new creation destroys existing industries, for example, new laptops replace old desktop computers, this is called creative destruction. Entrepreneurship is also considered creative in the sense that it involves the introduction of new products and technology. Even if new products or technology are not invented but adopted from existing products, they are still no less than innovation. This is because using old technologies in new ways requires creativity. For example, a laptop manufacturer repurposed old technology from a table computer and created a laptop. Thus, creativity can be said to be the essence of entrepreneurship.
11. Explain the importance of consumer protection from the point of view of consumers. 3
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