AHSEC| CLASS 12| BUSINESS STUDIES| SOLVED PAPER - 2017| H.S. 2ND YEAR
2017
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) Why is said management principles are universal?
Ans:- Management principles are said to be universal in application because they apply to all types of organizations regardless of size or nature.
(b) How management is an intangible force?
Ans:- Management is intangible because it cannot be seen or touched. Its presence can be felt through organization, enthusiastic employees and efficient work.
(c) Name the concept which permits direct communication between two employees working at the same level.
Ans:- Gang plank.
(d) Who wrote the book titled General and Industrial Management published in the year 1949?
Ans:- Henri Fayol.
(e) What is the other name of long-term investment decision?
Ans:- Capital budgeting decision.
(f) In which year SEBI came into being?
Ans:- In April 12, 1988.
(g) Give an example of specialty products.
Ans:- Designer clothing.
(h) Under which source of recruitment employees get motivated?
Ans:- Internal source of recruitment.
2. How is planning a pervasive function? 2
Ans:- Planning is called a comprehensive function of management because planning occurs at all levels of management in a business organization directing all managers in different business units to work towards achieving business goals and objectives.
3. State the authority of top management and freedom of action under centralization. 2
Ans:- Under centralization, important and major decisions are taken by the top management and implemented by other levels as per the instructions of the top level.
4. Explain job-rotation as a method of training. 2
Ans:- Job rotation is a process in which the trainee is systematically moved from one job to another, so as to broaden his knowledge and outlook in different areas.
5. Mention two non-financial incentives to promote motivation. 2
Ans:- Financial incentives refer to direct monetary incentives given to motivate or reward employees for better performance. Following are some of the financial incentives used in organizations.
(i) Salary and Allowances: Salary and allowances given to employees in every organization are the basic form of financial incentive. Regular increase in salary and grant of allowances acts as a motivation for the employees.
(ii) Performance based incentives: Often organizations provide monetary rewards for good performance. It motivates workers to improve their efficiency and performance.
6. State any one instrument of money market. 2
Ans:- Treasury Bills: Treasury bills are one of the most popular money market instruments. They have different short-term maturities. The Government of India issues it at a discount for periods ranging from 14 days to 364 days.
7. What do you mean by management by exception? 3
Ans:- Management by exception (MBE) is a style of business management that focuses on identifying and handling cases that deviate from the standard recommended as best practice by project management methodology. Management by exception has both general business applications and business intelligence applications.
8. Outline three leading features of a good control system. 3
Ans:- The three features of a good control system are:
(i) Requirements regarding designing of control system:
(a) Appropriateness: A good control system is one which is best suited (or appropriate) to the needs of the organisation.
(b) Objectivity: A good control system should be objective i.e. it should be based on scientific methods of analysis, and should be free from bias, opinions and values of managers; As far as setting performance standards and comparing actual performance against standards is concerned.
(ii) Requirements regarding the operation (or implementation) of the control system:
(a) Prompt: A good control system should be prompt i.e. it should report deviations promptly; So that necessary remedial action can be taken before the situation worsens.
(b) Responsibility-based: A good control system should be responsibility-based in its operation. It should fix responsibility on personnel or departments; Who/who are responsible for the occurrence of deviations – so that necessary corrective steps are focused directly on them – without involving innocent elements.
(iii) Some additional desirable requirements:
(a) Flexibility: A good control system should be flexible to maintain its validity despite changed circumstances.
Flexibility can be introduced into the control system by the provision of alternative standards of performance – each alternative will be valid under a different set of valid conditions.
(b) Foresight: A good control system should be foresight. He must anticipate deviations and take preventive remedial steps before they actually occur.
9. Discuss three objectives of financial planning. 3
Ans:- The objectives of financial planning are:-
(i) Determining capital requirements: This will depend on factors such as cost of current and fixed assets, promotional expenditure and long range planning. Capital requirements should be viewed from both aspects: short-term and long-term requirements.
(ii) Determining capital structure: Capital structure is the composition of capital, i.e., the relative type and proportion of capital required in the business. It involves decisions related to debt-equity ratio – both short-term and long-term.
(iii) Making financial policies regarding cash control, credit, borrowing etc.
10. What are the legal protection offered to consumers under” The Consumers Protection Act’ 1986? 3
Ans:- Consumer Rights as per Consumer Protection Act 1986: The Consumer Protection Act provides consumer rights to protect consumers from fraudulent or specified unfair practices. These rights ensure that consumers can make better choices in the market and get help with complaints.
(i) Right to Security:
(a) Meaning: Consumers have the right to be protected from products and services which are hazardous to health, life and property.
(b) Requirements from products and services: Quality, quantity, reliability and performance must be ensured in the products and services provided by the vendors.
(c) Example: Electrical equipment without ISI mark can cause serious injury. While introducing iron in the market the usage of iron should also be mentioned along with that product.
(ii) Right of Access to Information: It seeks to establish practical management of the right to information for citizens to access data under the control of public jurisdiction, to develop clarity and accountability in the functioning of every public authority. act. , a Central Information Commission and organization of state information.
(iii) Right to Choose: According to the Consumer Protection Act 1986 the right to choose means 'the right to be assured, wherever possible, access to a wide variety of goods and services at competitive prices'.
11. Explain any three rights ensured to consumers in India. 3
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