AHSEC| CLASS 12| BUSINESS STUDIES| SOLVED PAPER - 2015| H.S. 2ND YEAR
2015
Business Studies
Full marks: 100
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1x8=8
(a) At which level business policy is framed? 1
Ans:- Top level.
(b) Who defined management as the art of getting things done through others? 1
Ans:- Mary Parker Follett.
(c) Which principle of management promotes team spirit? 1
Ans:- Espirit De Corps.
(d) Which technique of scientific management does provide for eight specialist foremen over workers? 1
Ans:- Functional foremanship.
(e) Name the function by which managers build an organization through the recruitment, selection and development of individual as capable employees. 1
Ans:- Staffing.
(f) Which is the most costly capital for a company? 1
Ans:- Equity share capital.
(g) In which year NSE came into existence? 1
Ans:- In 1992.
(h) which marketing philosophy gives more importance to ‘Consumer Welfare’ instead of Consumer Satisfaction? 1
Ans:- Societal Marketing concept.
2. Mention two features of planning. 2
Ans:- Two features of planning are:-
(i) It is an intellectual process
(ii) It is a goal-oriented process
3. What do you mean by organization structure? 2
Ans:- An organization structure is an outline of the authority and responsibility relationships between different positions in the organization and also makes clear who reports to whom. This is generally shown on the organization chart. It is a set of planned relationships between groups of related functions and physical factors and individual factors necessary for the achievement of organizational goals.
4. Why internal source of recruitment is considered to be more economical? 2
Ans:- Internal sources of recruitment are considered more economical because:-
(i) The process of selection and appointment is easy.
(ii) It meets the deficiency of one department from the surplus of another department.
(iii) It does not involve much time, effort and money.
(iv) It provides facilities for training of employees.
5. Name four elements of directing. 2
Ans:- There are four elements of direction:-
(i) Leadership: Guiding, motivating and leading subordinates to achieve the goals set in the planning stage.
(ii) Motivation: A positive force that compels one to perform a prescribed task.
(iii) Supervision: To monitor the progress of routine work of his subordinates and give them proper guidance.
(iv) Communication: Exchange of thoughts, ideas, messages and information between two or more people.
6. Write two features of money market. 2
Ans:- Money market has two features:-
(i) Money market involves transactions in cash or liquid assets of short-term nature.
(ii) It deals with financial assets (or instruments) which are close substitutes of money and which can be converted into cash within a period or a year.
7. State three importance of controlling. 3
Ans:- Controlling has three importance:-
(i) Achieving organizational objectives: Control is implemented with the aim of taking care of organizational objectives. Control detects any deviation and corrective action is implemented accordingly.
(ii) Dealing with changes: An organization has to face many changes in the environment, which may be the emergence of new products and technologies, changes in government regulations or changes in the strategies of competitors.
(iii) Efficient use of resources: Control allows the manager to reduce wastage of resources and ensure proper utilization of available resources thereby leading to effective performance by the organization.
8. Discuss the relationship between planning and controlling. 3
Ans:- The relationships between planning and controlling are:-
(i) Controlling arises from planning: In planning the objectives or goals of the organization are determined. To achieve these objectives control process is needeld. Therefore planning leads to control.
(ii) Controlling sustains planning: Directs the course of the control plan. Control Locate areas where planning is needed.
(iii) Controlling provides information for planning: Under control the actual performance is compared with prescribed standards and deviations, if any, are recorded. The information collected to establish controls is also used in planning.
9. State in brief the three decisions involved in financial management. 3
Ans:- Financial management involves three decisions:-
(i) Investment Decisions: The financial manager has to take decisions regarding investment of funds in various business activities.
(ii) Financial Decisions: The finance manager has to decide when, where and how to obtain funds to meet the requirements of the company.
(iii) Dividend Decisions: Such decisions refer to the dividend policy of the company.
10. state five leading techniques of middle level management. 5
Ans:- Here are some major techniques of middle level management:-
(i) Decision Making: A tool that can help in distributing duties and responsibilities among the employees.
(ii) Organising: Helps in establishing authority, dividing workload, delegating responsibilities, group work and allocating resources.
(iii) Planning: Should be done in a systematic manner to avoid wastage of resources and time.
(iv) Provide guidelines: Responsible for maintaining contact with the outside world.
(v) Directing: Combination of five different components like supervision, motivation, leadership, communication and coordination.
11. State five leading techniques of scientific management. 5
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