11th commerce case study answers

Samacheer Kalvi 11th Commerce Guide Book Answers Solutions

Subject Matter Experts at SamacheerKalvi.Guide have created Tamilnadu State Board Samacheer Kalvi 11th Commerce Answers Solutions Guide Pdf Free Download in English Medium and Tamil Medium are part of Samacheer Kalvi 11th Books Solutions .

Let us look at these TN Board Samacheer Kalvi 11th Std Commerce Guide Pdf of Text Book Back Questions and Answers, Notes, Chapter Wise Important Questions, Model Question Papers with Answers, Study Material, Question Bank and revise our understanding of the subject.

Students can also read Tamil Nadu 11th Commerce Model Question Papers 2020-2021 English & Tamil Medium.

Samacheer Kalvi 11th Commerce Book Solutions Answers Guide

Samacheer Kalvi 11th Commerce Book Back Answers

Tamilnadu State Board Samacheer Kalvi 11th Commerce Book Back Answers Solutions Guide.

Unit 1 Fundamentals of Business

Chapter 1 Historical Background of Commerce in the Sub-Continent
Chapter 2 Objectives of Business
Chapter 3 Classification of Business Activities

Unit 2 Forms of Business Organisation

Chapter 4 Sole Proprietorship
Chapter 5 Hindu Undivided Family and Partnership
Chapter 6 Joint Stock Company
Chapter 7 Cooperative Organisation
Chapter 8 Multi-National Corporations (MNCs)
Chapter 9 Government Organisation

Unit 3 Service Business – I

Chapter 10 Reserve Bank of India
Chapter 11 Types of Banks
Chapter 12 Functions of Commercial Banks
Chapter 13 Warehousing
Chapter 14 Transportation
Chapter 15 Insurance

Unit 4 Service Business – II

Chapter 16 Emerging Service Business in India

Unit 5 Service Business – II

Chapter 17 Social Responsibility of Business and Business Ethics
Chapter 18 Business Ethics and Corporate Governance

Unit 6 Business Finance

Chapter 19 Sources of Business Finance
Chapter 20 International Finance
Chapter 21 Micro, Small and Medium Enterprises (MSME) and Self Help Groups (SHGs)

Unit 7 Trade

Chapter 22 Types of Trade
Chapter 23 Channels of Distribution
Chapter 24 Retailing

Unit 8 International Business

Chapter 25 International Business
Chapter 26 Export and Import Procedures
Chapter 27 Facilitators of International Business
Chapter 28 Balance of Trade and Balance of Payments

Unit 9 The Indian Contract Act

Chapter 29 Elements of Contract
Chapter 30 Performance of Contract
Chapter 31 Discharge and Breach of a Contract

Unit 10 Direct and Indirect Taxes

Chapter 32 Direct Taxes
Chapter 33 Indirect Taxation

We have also created Samacheer Kalvi 11th Commerce Notes for students to help them prepare for the exam like scenario.

We hope these Tamilnadu State Board Class 11th Commerce Book Solutions Answers Guide Pdf Free Download in English Medium and Tamil Medium will help you get through your subjective questions in the exam.

Let us know if you have any concerns regarding TN State Board New Syllabus Samacheer Kalvi 11th Standard Commerce Guide Pdf Text Book Back Questions and Answers, Notes, Chapter Wise Important Questions, Model Question Papers with Answers, Study Material, Question Bank, Formulas, drop a comment below and we will get back to you as soon as possible.

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Business Studies
Class 11 Business Studies...

Class 11 Business Studies Case Study Questions

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CBSE Class 11 Business Studies Case Study Questions are available on myCBSEguide App . You can also download them from our student dashboard .

For students appearing for grade 11 CBSE exams from the Commerce stream, Business Studies is a fundamental subject. Business Studies is considered to be quite interesting as well as an occupying subject as compared to all other core subjects of the CBSE class 11 commerce stream. To ace this CBSE exam, students are not only required to work hard but they ought to learn to do smart work too.

Among all the other core subjects of the Commerce stream i.e accountancy, economics and business studies, Business Studies is the one that is purely theoretical. It is termed to be comparatively easier and more scoring than the other mandatory subjects of the commerce stream. Many students who opt for the commerce stream after their 10-grade exams desire to learn in-depth about the business organizations and their work, for them the subject is of utmost importance. Business Studies is an essential component of the class 11 commerce stream curriculum.

In order to ace the subject the student needs to have conceptual clarity. CBSE has designed the syllabus for class 11 Business Studies so as to provide students with a basic understanding of the various principles prevalent in the Business organizations as well as their interaction with their corresponding environment.

Case Study Questions in class 11 (Business Studies)

Case-based questions have always been an integral part of the Business Studies question paper for many years in the past. The case studies have always been considered to be challenging for the students, for such questions demand the application of their knowledge of the fundamental business concepts and principles. Last year i.e- 2021 CBSE introduced a few changes in the Business Studies question paper pattern to enhance and develop analytical and reasoning skills among students.

It was decided that the questions would be based on real-life scenarios encountered by the students.CBSE not only changed the way case-based questions were formulated but also incremented their weightage in the Business Studies question paper. The sole purpose of increasing the weightage of case-based questions in the class 11 curriculum by CBSE was to drift from rote learning to competency and situation-based learning.

What is a case study question? (Business Studies)

In Business Studies, a case study is more like a real-world test of how the implementation works. It is majorly a report of an organization’s implementation of anything, such as a practice,a product, a system, or a service. The questions would be based on the NCERT textbook for class 11 Business Studies. Case-based questions will definitely carry a substantial weightage in the class 11 Business Studies question paper. questions.

A hypothetical text will be provided on the basis of which the student is expected to solve the given case-based question asked in the Business Studies class 11 exam. Initially, the newly introduced case-based questions appeared to be confusing for both the students and the teachers. Perhaps, they were reluctant to experiment with something new but now a lot more clarity is there that has made the question paper quite student-friendly.

Case study questions could be based on any chapter or concept present in the NCERT textbook. Thus, it is expected from the students to thoroughly revise and memorize the key business fundamentals.

Business Studies syllabus of class 11 CBSE

The entire Business Studies course is divided into 2 parts:

Part A, Foundation of Business
Part B, Finance and Trade

The class 11 Business Studies exam is for a total of 100 marks, 80 marks are for the theory and the remaining 20 for the project. Most of the questions are based on the exercises from the NCERT textbook. It is recommended to rigorously go through the contents of the book. A single textbook has been published by NCERT for Class 11 Business studies. There are a total of 10 chapters in this book divided into 2 parts.

CBSE Class – 11

Business Studies (Code No. 054)

Theory: 80 Marks Time: 3 Hours Project: 20 Marks

Case Study Passage (Business Studies class)

As part of these questions, the students would be provided with a hypothetical situation or text, based on which analytical questions will have to be answered by them. It is a must for the students to read the passage in depth before attempting the questions. In the coming examination cycle (2022-23), case-based questions have a weightage of around 30%. These questions can be based on each chapter in the NCERT book for Business Studies, grade 11.

Students must prepare well for the case-based questions before appearing for their Business Studies exam as these questions demand complete knowledge of the various concepts in their syllabus. CBSE plans to increase the weightage of such questions in the upcoming years.

Sample case-based Questions in Business Studies

Business Studies as a subject provides a way of perceiving and interacting with the business ecosystem. It is a core subject of the commerce stream that is purely theoretical and relevantly easier than the other compulsory subjects of the stream. Class 11 Business Studies syllabus is closely related to trade and commerce. The subject cannot be ignored as it is the foundation of many concepts and theories which are studied at an advanced level in class 12.

The case-based questions asked in the CBSE Business Studies question paper for class 11 are of two types:

As per the latest circular issued by CBSE on Assessment and Evaluation practices of the board for the session 2022-23, CBSE has clearly mentioned that competency-based questions including case studies will be different from subjective questions.

The questions can also be categorized on their difficulty level:

Direct: such questions can be easily solved. Their answer is visible in the given passage itself.
Indirect/ Analytical: such questions are confusing and tricky. These can be solved by the application of the theory or principle that is highlighted in the provided text.

How To Prepare For Case-based Questions? (Business Studies grade 11)

Students need to prepare well for the case-based questions before appearing for their class 11 Business Studies exam. Here are some tips which will help the student to solve the case-based questions at ease:

Read the provided text carefully
Try to comprehend the situation and focus on the question asked
Analyze and carefully answer the question asked
In general, the passage given would be lengthy in Business Studies case-based questions but their solutions are comparatively short and simple
One can significantly save time if they follow a reversal pattern, that is going through the questions before reading the comprehensive case study passage.
Answer in a concise manner
One should concentrate on solidifying key fundamental principles/theories
Go through the NCERT textbook in depth. The language used is crisp and simple.
While providing solutions to the case-based question, pick the keyword/keyline based on which you are driving insights.

In order to excel in the Business Studies class 11 exam, one needs to ignore the shortcut techniques and get to read the NCERT textbook rigorously. Case studies can be easily solved if your key fundamentals are strong and clear. The best part of having these questions is that the asked question itself projects a hint of its answer. These simple points if kept in mind will definitely help the students to fetch good marks in case study questions, class 11 Business Studies.

Case study question examples in Business Studies

Here a re some given case study questions for CBSE class 11 Business Studies. If you wish to get more case study questions and other study material, download the myCBSEguide app now. You can also access it through our student dashboard.

Business Studies Case Study 1

Read the hypothetical text given and answer the following questions:

Manish, Rahul and Madhav live in the same locality. They used to meet and discuss their ideas. After discussing the recent fire breakout in their area, they decided to take fire insurance for their house or work area. Manish gets his house insured against fire for ₹1 lakh and during the policy period, his house gets damaged due to fire and the actual loss amounts to ₹2.5 lakh. The insurance company acquired the burning material and approved his claim. Rahul gets his godown insured against fire for ₹1 lakh but does not take enough precautions to minimize the chances of fire like installing fire extinguishers in the factory. During the policy, a fire takes place in his godown and he does not take any preventive steps like throwing water and calling the employees from the fire fighting department to control the fire. He suffered a loss of ₹1,20,000. Madhav took a fire insurance policy of ₹20 lakh for his factory at an annual payment of ₹24,000. In order to reduce the annual premium, he did not disclose that highly explosive chemicals are being manufactured in his factory. Due to a fire, his factory gets severely damaged. The insurance company refused to make payment for the claim as it became aware of the highly explosive chemicals.

How much can Manish claim from the insurance company?

None of the above

How much compensation can Rahul get from the insurance company?

Which principle is violated in the case of Rahul?

Insurable Interest
Utmost Good Faith

How much amount is the insurance company liable to pay to Madhav if he files a case against it?

Insufficient information

Which principle of Insurance is violated by Madhav?

Insurable interest
Subrogation
Proximate Cause

The insurance company acquired the burnt material and approved his claim. Which principle of Insurance is highlighted in the given statement.

(a) Mitigation
(a) Utmost Good Faith
(d) Subrogation

Business Studies Case Study 2

Sarthak Electronics Ltd. has a loss of Rs 15,00,000 to pay. They are short of funds so they are trying to find means to arrange funds. Their manager suggested a claim from the insurance company against stock lost due to fire in the warehouse. He actually meant that they can put their warehouse on fire and claim from insurance companies against stock insured. They will use the claim money to pay the loan.

Will the company receive a claim if the surveyor from the insurance company comes to know the real cause of fire?
Write any two Values which the company ignores while planning to arrange money from false claims.
State any three elements of fire insurance

Business Studies Case Study 3

OLX and qickr are examples of well-known websites used to conduct business. Tarasha’s sofa set got spoiled in the rain. Her friend suggested that she should change the fabric so that it looks new and put it for sale on Olx. Tarasha followed her friend’s advice and got her sofa repaired so that it looked better and uploaded nicely clicked pictures on the website without disclosing the fact that it was damaged from the inside. She found a buyer and sold it for Rs 10,000. After five days the buyer found the real state of the sofa set and called Tarasha but she did not answer any of the calls.

identify the type of business highlighted in the above case.
Identify any two values which are overlooked by Tarasha.
Explain any two benefits and limitations of e-business.

Advantages of case study questions in Business Studies

Class 11 Business Studies syllabus is not very vast but has to be focussed upon as it forms the base for your 12th grade Business Studies syllabus. Students are supposed to prepare themselves thoroughly from the NCERT textbook. The Case-based questions prominently focus on the real and current scenarios of the Business world. Approximately 30% of the question paper will comprise case study questions that demand high-order thinking and reasoning skills from the students. The students ought to practice class 11 Business Studies case-based questions from the various options available to them, so as to excel in the subject.

Enhance the qualitative and quantitative analysis skills of students
Provides an in-depth understanding of the key Business theories/concepts
Inculcate intellectual capabilities in students
Help students retain knowledge for a longer period of time
The questions would help to discard the concept of rote learning
Case studies promote and strengthen practical learning.

“Failure is success if you learn from it”

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11th Standard Commerce Study Materials , Guides & Notes

11th commerce study material, guides .

11th Commerce Unit Test (4 to 9) Question Paper English Medium 2023-24 - Click Here
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11th Commerce Full study material 2020-21 - S.MAHALINGAM - Click Here
11th Commerce SURA Full Guide 2020-21 English Medium - Click Here
11th Commerce SURA Full Guide 2020-21 Tamil Medium - Click Here
11th Commerce Important 5Marks | EM Preview and Download - Click Here
11th Commerce Sura Guide 2021 - 2022 English Medium New Edition - Click Here
11th Commerce Sura Guide 2021 - 2022 Tamil Medium New Edition - Click Here
11th Commerce Full study material English Medium 2021 - 2022 by P. VAHEESWARAN - Click Here
11th Commerce Minimum Learning Material 2021 - 2022 by Dhosth Publications - Click Here
11th Commerce Unit Test Question Paper 2021 EM Chennai district - Click Here
11th Commerce Unit Test Question Paper 2021 TM Chennai district - Click Here
11th Commerce & Accountancy Reduced Syllabus 5 Star Guide TM New Edition 2021-2022 By Vaheesvaran - Click Here
11th Commerce New Syllabus Study Materials English Medium 2022-23 - Click Here
11th Commerce New Syllabus Study Materials Tamil Medium 2022-23 - Click Here
11th Commerce Chapter 1 to 33 Objectives English Medium 2022-23 - Click Here
11th Commerce Full Portion Revision Exam Question Paper - 1 EM 2022-2023 By P.Karthik P.G Assistant in commerce - Click Here
11th Commerce Full Portion Important Book Back 2,3 & 5 Mark Questions ( Numbers ) 2023 By ARAM EDUCATIONAL INSTITUTE - Click Here
11th Commerce Important Questions Tamil Medium 2022-23 By JR BHASKAR .M.COM,M.PHIL, MBA - Click Here
11th Commerce Daily Warm Up Guide Tamil Medium 2022-2023 - Click Here
11th Commerce Public Exam Expected Questions Tamil Medium 2022-2023 By J.R. BHASKAR M.COM, MPHIL, MBA ,BEd - Click Here
11th Commerce Full Portion Question Paper With Answer Key Tamil Medium 2022-23 - Click Here
11th Commerce Full Portion One Mark Question Paper With Answer Key Collections Tamil Medium 2022-23 - Click Here
11th Commerce One Mark Question Bank Tamil Medium 2022-2023 - Click Here
11th Commerce Full Portion Test - 1 Question Paper EM 2022-23 By V.Stephen Raj, M.Com,M.PHhil,B.Ed - Click Here
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Samacheer Kalvi Guru 11th Commerce Guide Book Back Answers Solutions

Students of 11th Commerce can get the pdf links of Tamilnadu State Board Solutions here. You can Download Samacheer Kalvi 11th Commerce Book Solutions Questions and Answers. This helps you to enhance and gain better score in exams and also to gain a highest score in the final examinations. The techniques to learn subject in a simple way for all lessons is provided in the Tamilnadu State Board Solutions for 11th Commerce.

Samacheer Kalvi 11th Commerce Book Answers Solutions Guide

It is very important to put the textbook aside while preparing for the exams. Students can Download Samacheer Kalvi 11th Commerce Book Solutions Questions and Answers in order to revise the complete syllabus at once. So, we suggest to Download Tamilnadu State Board Solutions for Chapter 1 Historical Background of Commerce in the Sub-Continent Questions and Answers pdf for free. The Solutions for Tamilnadu State State Board 11th Commerce Solutions, Questions and Answers are given Chapterwise.

Students can also read Tamil Nadu 11th Commerce Model Question Papers 2019-2020 English & Tamil Medium.

Samacheer Kalvi 11th Commerce Guide Book Back Answers

Samacheer Kalvi 11th Commerce Book Back Answers

Unit 1 Fundamentals of Business

Chapter 1 Historical Background of Commerce in the Sub-Continent
Chapter 2 Objectives of Business
Chapter 3 Classification of Business Activities

Unit 2 Forms of Business Organisation

Chapter 4 Sole Proprietorship
Chapter 5 Hindu Undivided Family and Partnership
Chapter 6 Joint Stock Company
Chapter 7 Cooperative Organisation
Chapter 8 Multi-National Corporations (MNCs)
Chapter 9 Government Organisation

Unit 3 Service Business – I

Chapter 10 Reserve Bank of India
Chapter 11 Types of Banks
Chapter 12 Functions of Commercial Banks
Chapter 13 Warehousing
Chapter 14 Transportation
Chapter 15 Insurance

Unit 4 Service Business – II

Chapter 16 Emerging Service Business in India

Unit 5 Service Business – II

Chapter 17 Social Responsibility of Business and Business Ethics
Chapter 18 Business Ethics and Corporate Governance

Unit 6 Business Finance

Chapter 19 Sources of Business Finance
Chapter 20 International Finance
Chapter 21 Micro, Small and Medium Enterprises (MSME) and Self Help Groups (SHGs)

Unit 7 Trade

Chapter 22 Types of Trade
Chapter 23 Channels of Distribution
Chapter 24 Retailing

Unit 8 International Business

Chapter 25 International Business
Chapter 26 Export and Import Procedures
Chapter 27 Facilitators of International Business
Chapter 28 Balance of Trade and Balance of Payments

Unit 9 The Indian Contract Act

Chapter 29 Elements of Contract
Chapter 30 Performance of Contract
Chapter 31 Discharge and Breach of a Contract

Unit 10 Direct and Indirect Taxes

Chapter 32 Direct Taxes
Chapter 33 Indirect Taxation

We believe that more practice will make you perform well in the exams. Also it helps in management of time. The Answers provided in the Tamilnadu State Board Solutions for 11th Commerce are prepared by the subject experts. We hope the information shared in this article is beneficial for the students of 11th Commerce. This helps not only in the exams but also to improve the communication skills.

11th Commerce Question Papers

11th Commerce Model Question Papers (Ideal Question Bank) (10 மாதிரி வினாத்தாள்கள்) | Sri Ganga Publications – Tamil Medium – Preview & Download (MAT.NO. 217211)
11th Commerce All Government Exam Question Papers (2018 to 2019) | Mr. D. Chithambararaj – English Medium – Preview & Download (MAT.NO. 216931)
11th Commerce Model Question Paper (Full Portion) | Mr. P. Karthik – English Medium – Preview & Download (MAT.NO. 221453 )
11th Commerce – Book Back 1 Mark Test Question Paper | Mr. P. Vaheeswaran – English Medium – Preview & Download (MAT.NO. 215255 )
11th Commerce Book Back 1 Mark Test Question Paper (Chapter 16 to 30) | Mr. G. Prakash – Tamil Medium – Preview & Download (MAT.NO. 215870 )
11th Commerce First Mid term Test Model Question Paper | Mr. P. Karthik – English Medium – Preview & Download (MAT.NO. 221033 )
11th Commerce – Unit 1 – Unit Test Question Paper | Mr. B. Balaji – Tamil Medium – Preview & Download (MAT.NO. 214307 )
11th Commerce Unit Test Question Paper (Unit Test 1) | Mr. P. Karthik – English Medium – Preview & Download (MAT.NO. 214307 )
11th Commerce – Unit 1 – Model Question Paper | Mr. D.Srinivasan – English Medium – Preview & Download (MAT.NO. 210432 )
11th Commerce Unit Test Question Papers – Unit 1 and 2 | Mr. B. Balaji – Tamil Medium – Preview & Download (MAT.NO. 210338 )
11th Commerce – Unit 2 – Model Question Paper | Mr. D.Srinivasan – English Medium – Preview & Download (MAT.NO. 210862 )
11th Commerce – Unit 3 – Model Question Paper | Mr. D.Srinivasan – English Medium – Preview & Download (MAT.NO. 210863 )
11th Commerce Slip Test Question Paper (Chapter 6 and 7) | Mr. P. Karthik – English Medium – Preview & Download (MAT.NO. 221048 )

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Maharashtra Board OCM 11th Commerce Solutions Chapter 8 Introduction to Management

Balbharti Maharashtra State Board Organisation of Commerce and Management 11th Textbook Solutions Chapter 8 Introduction to Management Textbook Exercise Questions and Answers.

Maharashtra State Board 11th Organisation of Commerce and Management Solutions Chapter 8 Introduction to Management

1. (A) Select the correct option and rewrite the sentences

Question 1. Management is …………………. (a) dynamic (b) static (c) selective Answer: (a) dynamic

Question 2. Management uses …………………. method of observation. (a) unscientific (b) artificial (c) scientific Answer: (c) scientific

Question 3. To help top level management in co-ordinating the activities is the function of …………………. level management. (a) middle (b) lower (c) top Answer: (a) middle

Question 4. To look after the maintenance of machinery is the function of …………………. level of management. (a) top (b) middle (c) lower Answer: (c) lower

Question 5. Management is …………………. oriented action. (a) policy (b) profit (c) goal Answer: (c) goal

1. (B) Match the pairs

Question 1.

1. (C) Give one word / phrase / term

Question 1. The art of getting things done through others. Answer: Management

Question 2. The second level of management. Answer: Middle level

Question 3. Systematic body of knowledge. Answer: Management as a Science

Question 4. The level of management related to Managing Director. Answer: Top level management

Question 5. Level of management that link top level and lower level management. Answer: Middle level management

1. (D) State True or False

Question 1. Management is an ancient activity. Answer: True

Question 2. Management is not objective oriented. Answer: False

Question 3. In small organization also management is required. Answer: True

Question 4. Middle level management forms policy of an organization. Answer: False

Question 5. Various principles and techniques are used in management. Answer: True

1. (E) Find the odd one

Question 1. Management is an – art, a science, a commerce, a profession. Answer: a commerce

Question 2. Management as an Art – Singer, Actor, Dancer, Doctor. Answer: Doctor

Question 3. Management as Profession – Doctor, Chartered Accountant, Lawyer, Singer. Answer: Singer

Question 4. Level of Management – Lower Level, Middle Level, Top Level, High Level. Answer: High level

Question 5. Top Level Management – Board of Directors, Presidents, Purchase Manager, Chief Executive Officer (CEO). Answer: Purchase manager

Question 6. Middle Level Management – Departmental Head, Finance Manager, Production Manager, Supervisor. Answer: Supervisor

Question 7. Lower Level Management – Supervisor, Foreman, Finance Manager, Office Superintendent. Answer: Finance Manager

1. (F) Complete the sentences

Question 1. The English verb ‘manage’ came from Italian word ………………. Answer: Maneggiare

Question 2. To manage is to forecast, to plan, to organize, to command, to co-ordinate and to ………………. Answer: control

Question 3. Organization is a group of person who work together to achieve a ………………. Answer: common goal

Question 4. Link between the top level and lower level of management is called as ………………. Answer: middle level management

Question 5. Lower level management works under ………………. Answer: middle level management

Question 6. Art is the bringing about a desired result through the application of ………………. Answer: skills

Question 7. Any knowledge which is scientifically developed and consists of universally accepted principles is known as a ………………. Answer: science

Question 8. Science is based on systematic experiments, on certain rules and on ………………. Answer: principles

Question 9. Teacher, Doctor, C.A., Lawyer comes under the term ………………. Answer: profession

1. (G) Select the correct option

(Finance Manager, Art, CEO, Profession, Supervisors)

1. (H) Answer in one sentence

Question 1. What is called as management? Answer: Getting work done through others is called as management.

Question 2. Name, the levels of management? Answer: Top level, middle level and lower level are the three levels of management.

Question 3. What is top level management? Answer: The level of management that decides the long term objectives of organization and frame the plans and policies and take decisions is called as top level-management.

Question 4. What do you mean by middle level management? Answer: The level of management which is concerned with implementation of plans and policies in the organization with the help of lower level management is known as middle level management.

Question 5. What is lower level management? Answer: The level of management which is considered to do actual execution of plan is called as lower level management.

Question 6. What do you mean by an art? Answer: An art means skill of individual, creativity, regular practice, personal abilities and innovativeness.

Question 7. What is science? Answer: Science is a systematic body of knowledge and scientific methods.

Question 8. What is the meaning of a profession? Answer: Profession means an individual having adequate knowledge and abilities which is helpful to handle different situations. They are trained people having formal education in management school and have a code of conduct.

1. (I) Arrange in proper order.

Question 1. Middle level management, Top level management, Lower level management. Answer: Top level management, Middle level management, Lower level management.

Question 2. Departmental Head, CEO, Supervisors, Managing Director. Answer: CEO, Managing Director, Departmental Head, Supervisors.

Question 3. Office clerk, Shareholders, Managing Director, Board of Director. Answer: Shareholders, Board of Directors, Managing Director, Office clerk.

1. (J) Correct the underlined word and rewrite the following sentences

Question 1. Management is only an art . Answer: Management is an art, a science and a profession .

Question 2. There are five levels of management. Answer: There are three levels of management.

Question 3. Lower level management works under top level management. Answer: Middle level management works under top level management.

Question 4. Middle level management works under lower level management. Answer: Middle level management works under top-level management.

Question 5. Management is pure science . Answer: Management is a social science .

Question 6. The entry in any profession is not restricted . Answer: The entry in any profession is restricted .

Question 7. Professionals need informal education. Answer: Professional need formal education.

2. Explain the following terms/concepts

Question 1. Top level management. Answer:

The top level management decides the long term objectives of organization, frames plans and policies and take decisions.
It consists of Board of Directors, Managing Director,CEO, President, etc.

Question 2. Middle level management. Answer:

The middle level management is a link between top level and lower level management.
It works under top level management.
This level is considered with implementation of plans and policies in the organization with the help of lower level management.
It consists of Head of Departments / Branch managers / Incharge, etc.

Question 3. Lower level management. Answer:

This is the last level of management.
It is a supervisory level of management.
It consists of superintendents, supervisors, foremen and junior executives.
Lower level management receives instructions from the authorities i.e. middle level management and direct subordinates wherever necessary.

3. Study the following case/situation and express your opinion

1. While working in a company, Pranav used to give order to his subordinates about what is to be done and which work is to be done? In this organization, various employees like Pratap are doing their work assigned by Pravin. In this company, Pravin submits his report of work completion to Pranav after completing the work done by the employees like Pratap.

Question 1. Identify different levels of management in above mentioned company. Answer: There are two levels of management i.e. middle and lower level of management in above mentioned company.

Question 2. Find the level of Pranav in management of company. Answer: Pranav works in the middle level management of company.

Question 3. Explain the functions and role of Pratap in his company. Answer: Pratap is an employee in a company. He works at the lower level. He executes the work assigned by Pravin.

4. Distinguish between the following

Question 1. Top level Management and Middle level Management. Answer:

Question 2. Middle Level Management and Lower Level Management. Answer:

Question 3. Top Level Management and Lower Level Management. Answer:

5. Answer in brief

Question 1. State any four features of Management. Answer: Following are the features of management: (i) Management is Goal Oriented : Management activity is done to achieve pre-decided goals. The success of organization is calculated on the basis of achievement of desired goals. The success depends on proper management of all available resources. Management decides the goals before conducting the activity. The manager takes efforts to achieve these goals. So management is goal oriented.

(ii) Management is a Group Activity : “Management is an art of getting things done through others.” The above definition explains that management is done through / with the people. It is done by co-ordinating all resources effectively and efficiently. The activities are done under the guidance of manager by its team members. Also in organisation decisions are taken by the group of people such as Board of Directors, Shareholders, etc.

(iii) Management is Intangible : Management is the collective efforts of manager. It is a process of planning, organizing, decision making, directing and controlling. These cannot be seen physically. However, the results of best management can be experienced in the form of increased profits, attainments of pre-decided so management is tangible in nature.

(iv) Management is a Continuous Process : Management is essential throughout the life of organisation. It is necessary to start the activity, to run the activity in smooth manner and also to control the activity. It is endless process. It is required for survival of the organization continuously.

Question 2. Write any four functions of Top Level Management. Answer: Following are the functions of Top Level Management:

To decide long term objectives of the organisation.
To frame plans and policies to achieve the set objectives.
To observe that policies are properly implemented.
To create various department and positions.

Question 3. Write any four functions of Middle Level Management. Answer: Following are the functions of Middle Level Management:

To link the top level management and lower level management.
To understand plans and policies framed by top level management and prepare plan of action according to the nature of department.
To assign duties and responsibilities to the staff of the concerned department to achieve pre-defined goals.
To appoint lower level staff.

Question 4. State any four functions of Lower Level Management. Answer: Following are the functions of Lower Level Management:

Do work under Middle Level Management.
To assign work to subordinates.
To give instruction to subordinates.
To direct the subordinates wherever necessary.

Question 5. State any two points of relationship about management as an art. Answer: The relationship between art and management are: (i) Personal Skills : In organization, every manager has to handle different situations, has to solve various problems, has to handle human resource, etc. with his own style. This style varies from manager to manager and so the result. This is because of the different skills and abilities of each person.

(ii) Creativity : Creativity refers to the ability to find something new and innovative. Manager finds out new ways to conduct organizational activities and to achieve desired goals. Manager develops new ideas according to the changes in business situation and in the business environment.

Question 6. Explain any two points of relationship about management as a science. Answer: The following points shows there is a relationship in management as a science: (i) Systematic Body of Knowledge : Pure science is based on systematic experiments, certain rules and principles. Management principles and functions are also based on the experiments which can be studied through various different management theories, techniques and approaches given by different management thinkers.

(ii) Universal Applicability of Principles : Scientific principles can be applied in all over the world in similar situation. Therefore, the same result can be drawn. Management principles are universal in nature. They can be applied everywhere, anytime and in any condition.

Question 7. State hny two points of relationship about management as a profession. Answer: The relationship between profession and management can be seen with the help of following points: (i) Expertise : A professional is an expert in his field. He has acquired specific knowledge through formal education. Also he has particular skill in practicing as a professional. Manager also becomes an expert by practicing regularly in the specific field and can acquire certain knowledge and skill.

(ii) Registration : Professionals need to register themselves with their associations. For example, a Chartered Accountant should register himself with Institute of Chartered Accountant of India i.e. ICAI. Without registration certificate he cannot practice. In case of managers, there is no such body to register themselves. However, managers can take the membership of ‘Chambers of Commerce’ which gives them benefits.

6. Justify the following statements

Question 1. Management is essential in professional and non-professional activities. Answer: (i) As management is universal in nature it is applicable everywhere, either it is a professional activity or non-professional activity.

(ii) Every person performs certain activity to achieve pre-decided goals. E.g. earning of profit, winning games, competitions, to increase goodwill, etc.

(iii) Organisations either large, medium or small, profit making or non-profit making, government or non-government organisation, etc. to get success, to attain goals every time management plays a vital role. It’s application ensures smooth functioning of business.

(iv) A professional acquires certain specific formal education. He has specific skill to achieve his goals. He performs management functions like planning, organizing, controlling, etc. Similarly, while performing non- professional activities like plantation of tree, blood donation campaign, a person also requires to perform certain management functions.

(v) Thus, management is essential in performing professional as well as non-professional activities.

Question 2. Level of management depends upon the size of organization. Answer: (i) Making different parts for the smooth functioning of business and to achieve decided goals is called levels of management.

(ii) The size of business is small, medium or large. Every business needs to manage the activities efficiently and’ effectively.

(iii) The levels of management depends on size of organization. If the size of organization is small the classification of levels becomes easy and simple. Whereas in large organization, it becomes difficult and complicated. The levels of management in such organisation may be classified into three parts i.e. Top level, Middle level and Lower level.

(iv) These levels of management are important in organization. These levels have their own functions. As per that they have to perform their duties and responsibilities to attain their set goals and objectives.

(v) Thus, levels of management depends on size of organisation.

Question 3. Management is a group oriented action. Answer: (i) In the words of Mary Parker Follet, “management is an art of getting things done through others”. Management focuses on completing the work through human resource.

(ii) It is co-ordinating of all available resources effectively and efficiently. In organisation, the activities are done by the subordinates, employees under the guidance of a manager.

(iii) A manager, though he is competent, able, has capacity, skills to perform the organizational task, it is not possible for a single manager to perform all the activities related to the said task alone.

(iv) To fulfill or accomplish the objectives and goals, he needs the help of other people, as it should be divided among all the employees, as per their skill, qualification, interest, knowledge and experience.

(v) Thus, management is a group oriented activity.

Question 4. Management is an art. Answer: (i) An art is the bringing about a desired result through the application of skills. It is an innovativeness and creativeness of a person. This is a natural and inborn quality of a person. But with the help of proper education and practice one can developed the quality or qualities. E.g. acting, dancing, cycling, magician, singing, drawing, skating, musician, sports etc. comes under art.

(ii) Art does not require any specific educational qualification or it not any compulsion. It is inborn quality or a skill.

(iii) As a manager, in organisation he has to handle various kinds of situations, employees, other resources effectively and efficiently with his own style. So he uses his skills which are either inborn or developed by practice and formal education.

(iv) A manger must be innovative. He should handle the conditions. He should not use same methods all the time. Like an artist, he has to develop his skills by regular practice. He should use different techniques and skills to get perfect result. This is possible due to regular practice.

(v) Every managers has different abilities and skills. They have to use their own abilities and skills to guide the people to achieve their goals.

(vi) Thus, manager need to be creative and skilled like an artist. Hence, management is an art.

Question 5. Answer: There is no need of registration for managers.

Every professional is registered with the concerned body or organisation. A professional is formally, educated and also a skilled person.
A manager, now-a-days, possess a diploma or degree in management studies like Indian Institute of Management (IIM), PUMBA (Savitribai Phule Pune University, MBA) etc. A person who wants to be a manager acquires the required knowledge of the profession and trains himself / herself for the managerial job.
As management is a profession, a manager is not practicing independently. He is an employee of the organisation.
Thus, there is no need of registration for managers.

Question 6. Management is a continuous process. Answer:

Management is a continuous process. It is an important feature of management.
A manager of an organisation has to perform managerial work to achieve pre-defined goals of the organisation. To achieve these goals, he as a manager applies various functions of management, principles of management and also techniques of management.
From the beginning till the achievement of success, continuous efforts of every individual is required. Continuity is an integral part of management. It is necessary through out the life of an organisation.
Therefore, management has become necessary to start the activity and to run the activity at the business smoothly.
Thus, management is a continuous activity. It is not a one time process, but it is never ending process.

Question 7. Planning is a task of top level management. Answer:

Planning means thinking before doing. It is thinking in advance. Before the action, there is a thinking process.
In the large organisation, management levels are divided into three parts i.e. top, middle and lower.
At the top level management, very few personnels are involves. They are Board of Directors, Managing Directors, President, Chief Executive Officer, etc.
The main function of top level management is to frame the plans and policies of the whole organisation to achieve its goals.
It decides the long term objectives of the organisation and also frames particular plans and policies to get them. Further, it also sees that the policies are properly implemented.
Framing of organizational objectives and accordingly plans and policies to achieve them becomes a tough task of top level management.
Thus, Planning is a task of top level management.

7. Attempt the following

Question 1. State the definition of management. Answer: Following are some definitions given by management thinkers :

“Management is an art of getting things done through others.” – Mary Parker Follet
“To manage is to forecast, to plan, to organize, to command, to co-ordinate and to control”. – Henry Fayol
“Management is knowing exactly what is to be done and seeing that it is done in the best possible manner.”
“Management is the process consisting of planning, organizing, actuating and controlling, performed to determine and accomplish the objectives by the use of people and resources”. George Terry.

Question 2. State the features of management. Answer: (i) Managements is Dynamic : Management is dynamic and not static in character. It deals with human efforts, different situations and different activities. It adopts changes in the form of technological, socio economical, political, environmental, etc.

(ii) Management is Intangible : Management is intangible in nature. It can’t be seen and touched. It is abstract. The principles, theories, techniques, concept are practically invisible. The result of best management can be experienced in the form of increased profit, smooth functioning of the organization and achievement.

(iii) Management is a Social Process : Management is a process because it sets objectives and takes steps to achieve them. It is said to be a social process because management is concerned with people. For example employees, shareholders, investors, customers, community, etc.

(iv) Management is a Continuous Process : Management is essential through the life of an organization. It is necessary to begin the activity, to run the activity smoothly and to control the activity. This is never ending process.

(v) Management is Different from Ownership : In an organization, management is different from ownership. Owners contribute capital which is taken care of by efficient and paid managers.

(vi) Management is an Inborn Quality : Management in the older days, was considered to be an inborn quality. But with the inception of various business schools, management is a quality which can be developed if a person has the interest and perseverance.

Question 3. State management is as a science. Answer: 1. Systematic Body of Knowledge : Management is not a science like physics, chemistry or biology. It is a science which deals with human beings. Management has a theories and concepts. Various principle of management like unity of command, division of labour, unity of direction are all universally accepted principle. Management follows procedures like collecting data, analyzing and drawing inferences from it. This makes management a science.

2. Use of Scientific Methods of Observation : In science the conclusions are drawn only on the basis of scientific methods of observation. Management also uses systematic methods of data collection, verification and analysis of that collected data and interpretation of data, then a manager takes decisions in the organisation.

3. Cause and Effect Relationship : Science is based on cause and effect relationship. After using specific formulae or their combination, we get particular result in science. Management theories are also based on relationships. Fair and regular salary along with good working conditions motivates people to work hard and to give best results. Whereas, old machineries, techniques, untrained employees may not give good / excepted output to the organization.

4. Universal Applicability of Principles : The management principles are universally accepted just like scientific principles are accepted all over the world. For e.g. Newton’s law, Archimedes principle, etc. are all accepted principles, similarly in management also the principle of authority and responsibility, unity of command, direction, etc. are all universally accepted and are used in all organization whether big or small. Management follows these principles in all kind of organizations, at all levels in the same organization. State the relationship between the management and art.

Question 4. Following points clearly states the relation between management and art. Answer: 1. Creativity: Managers must posses the quality of being creative. Every manager should be able to bring innovations in the business. This quality is developed with experience. The more experienced manager can bring about changes according to the situation.

2. Regular Practice: Practice makes a man perfect. This is the rule applied by a manager. The more the experience, the manager will be able to meet any challenge or difficult situation with ease. He is in a position to make the required changes according to the circumstances.

3. Personal Skill: Every manager being an individual is different. A good manager must posses good skills in dealing with human beings. He should use his skill in knowing the problem, allotment of work to employees, give judgment and understanding to deal with various situations in business.

4. Personal Abilities : Every person has different abilities and skills. Manager uses his own abilities to co-ordinate the activities, to guide the people and to achieve their goals.

Question 5. State the importance of management Answer: 1. Utilisation of Resources Optimally : Effective management is all about optimum use of available resources in the organization. Proper distribution of resources and work to right person results in higher output. It also reduces wastage and cost. Maximisation of output by reducing cost is the ultimate objective of every organization.

2. Better Relation : Different groups work at different levels in organization. The employer and the employees have different sets of demands from each other. Effective management ensures that employees fulfill their social responsibilities towards their employers. This helps in establishing good relationship among different groups in an organization.

3. Achievement of Goals : In an organization group of people performs various activities to achieve common goals of the organization. Effective management brings about harmony (cordial relationship) and good co-ordination in efforts of all group. A manager creates a feeling of team spirit among the members of the group.

4. Division of Work : Division of work means the entire work is divided into smaller lots. Each job is given to a particular employee as per his ability and skill to carry out the required activity. Division of work leads to specialization of work and completion of the work in the stipulated period of time.

Question 6. State the similarities between management and profession. Answer: 1. Formal Education : Professionals need formal education. Today’s managers are qualified with management diploma or degrees from various institutes like IIMS, PUMBA etc. They also take formal training from management schools which helps them to work professionally.

2. Code of Conduct : Code of conduct means set of rules and regulations to be followed by practicing in their field. Every profession has their own code of conduct to control the activities. It emphasis on ethical practice in that profession. E.g. Chartered Accountants have to work according to ICAI, Lawyers have to follow the code of conduct framed by Bar Council of India, etc. However for managers there is no such association of managers. Generally managers follow the code of conduct based on customs and traditions.

3. Expertise : A professional is an expert in his field. He has acquired specific knowledge through formal education. He has particular skill of practicing as professional. He becomes an expert due to regular practice in specific field.

4. Registration : Professionals need to register themselves with their associations. For example, Lawyers must get registered themselves with India Bar Council, Chartered Accountants with Institute of Chartered Accountant of India, where as for managers there is no need of such registration with any body. They can take membership of ‘Chambers of Commerce’ which give them membership benefits.

5. Restricted Entry : The entry in any profession is restricted. It needs formal education e.g. Lawyers, Architect, Interior designer, Doctors, Chartered Accountant, etc. However, such compulsion is not there for working as a manager.

8. Answer the Following

Question 1. What is management? State the characteristics or features of management. Answer: Management and its features: (A) Meaning: The word management is derived from the Latin word ‘manus’ which means ‘hands. It means management is handling some activity. Many thinkers said that management means a fine consideration of co-ordinating and controlling the work either from direct individual or from a group.

(B) Definitions: Some definitions of management given by different management thinkers as follows:

“Management traditionally can be defined as “an art of getting things done through others. ” – Mary Parker Follet
“Management is co-ordination of resources through the process of planning, organizing, directing and controlling in order to attain stated objectives.” – F.W. Taylor

Following are the characteristics features of management: (i) Managements is Dynamic : Management is dynamic and not static in character. It deals with human efforts, different situations and different activities. It adopts changes in the form of technological, socio economical, political, environmental, etc.

(vii) Management is Situational: Management helps to take decisions and also to handle specific situation. The decisions are based on the principles, theories and techniques. They are applicable in certain situation only.

(viii) Management is Goal Orientated : Every business organization either small, medium or large, profit making or non-profit making, Governmental or NGOs have their own goals. When the organization achieves its desired goals, it is called success of that organisation. This success depends on proper management of all available resources. A manager takes lots of efforts to achieve these goals. So management is goal oriented.

(ix) Management is Universal : Management principles and theories are equally applicable every where and in every field like business, profession, hospital, education, politics, government administration social activities. These principles are the guidelines to the manager. They are flexible and capable of adaptation to every type of organization.

(x) Management is Group Activity : Management is defined as “getting work done through others” or “with the people in formally organized groups”. The tasks set by the organization is complied by employees, all levels of managers and even with the help of outside parties.

Question 2. Discuss whether management is an art science or profession. Answer: Art: 1. Creativity: Managers must posses the quality of being creative. Every manager should be able to bring innovations in the business. This quality is developed with experience. The more experienced manager can bring about changes according to the situation.

Science: 1. Systematic Body of Knowledge : Management is not a science like physics, chemistry or biology. It is a science which deals with human beings. Management has a theories and concepts. Various principle of management like unity of command, division of labour, unity of direction are all universally accepted principle. Management follows procedures like collecting data, analyzing and drawing inferences from it. This makes management a science.

Profession: 1. Formal Education : Professionals need formal education. Today’s managers are qualified with management diploma or degrees from various institutes like IIMS, PUMBA etc. They also take formal training from management schools which helps them to work professionally.

Maharashtra Board OCM 11th Commerce Solutions Chapter 7 Business Environment

Balbharti Maharashtra State Board Organisation of Commerce and Management 11th Textbook Solutions Chapter 7 Business Environment Textbook Exercise Questions and Answers.

Maharashtra State Board 11th Organisation of Commerce and Management Solutions Chapter 7 Business Environment

1. (A) Select the correct option and rewrite the sentence

Question 1. The business environment has a tremendous impact on ……………….. (a) business (b) government (c) society Answer: (a) business

Question 3. Changes in ruling government is an aspect of ……………….. environment. (a) political (b) technological (c) economic Answer: (a) political

Question 4. Literacy level is an aspect of ……………….. environment. (a) social (b) legal (c) political Answer: (a) social

Question 5. Privatization implies reduction in the role of ……………….. sector. (a) public (b) private (c) foreign Answer: (a) public

Question 6. Globalization is concerned with ……………….. market. (a) global (b) local (c) rural Answer: (a) global

Question 7. ……………….. means linking national economy to the world economy. (a) Globalization (b) Privatization (c) Liberalization Answer: (a) Globalization

Question 8. Environment awareness provides ……………….. signal. (a) warning (b) alarming (c) soft Answer: (a) warning

1. (B) Match the pairs

Question 1.

Question 2.

1. (C) Write a word or a term or a phrase which can substitute each of the following statements

Question 1. Uncontrollable factors of the business environment. Answer: External business environment

Question 2. The environmental of business that includes customs and traditions, values, social trends. Answer: Social environment

Question 3. The process of transferring ownership of business enterprise, agency or public service from the public service to private sector. Answer: Privatization

Question 4. A boundary less worlds where there would be flow of goods, services, information, capital and people across nation. Answer: Globalization.

1. (D) State whether the following statements are True or False

Question 1. External factors of business environment are controllable factors. Answer: False

Question 2. Business is the product of different environmental factors. Answer: True

Question 3. Business and environment are inseparable parts. Answer: True

Question 4. There is no benefit of globalization on Indian economy. Answer: False

Question 5. New economic policy promoted the liberal economic policy. Answer: True

Question 6. There is no benefit of privatization to Indian economy. Answer: False

Question 7. There is no need of consideration of the business environment factors in business. Answer: False

1. (E) Complete the sentence

Question 1. The term of business environment generally refers to ………………… Answer: External Environment

Question 2. ……………….. helps the business enterprise for overcoming challenge successfully. Answer: Business Environment

Question 3. Geographical and Ecological factors are included in ………………… Environment. Answer: Natural

Question 4. Literacy is the important part of ………………… Environment. Answer: Social

Question 5. Stability and peace in the country includes in ………………… Environment. Answer: Political

Question 6. Indian political system comprises ………………… vital institutions. Answer: three

Question 7. Limited involvement of government in public sector refer to ………………… Answer: Privatization

Question 8. Integration of economy and society through cross country is called as ………………… Answer: Globalization

1. (F) Select the correct option

Question 1. In how many type environmental factors can be classified? (Two / Three / Four) Answer: Two

Question 2. Which factors of Business Environment regard as controllable? (Internal / External) Answer: Internal

Question 3. Who frames the economic policy of the business? (Government / Business / Citizen) Answer: Government

Question 4. Which economic system in known as free market economy? (Socialist / Mixed / Capitalist) Answer: Capitalist

1. (G) Correct the underline word and rewrite the following sentence

Question 1. External factors of business environment are controllable. Answer: Internal factors of business environment are controllable.

Question 2. Internal factors of business are beyond control. Answer: External factors of business are beyond control.

Question 3. Natural resources are related to political environment. Answer: Natural resources are related to natural environment.

Question 4. Privatization helps for global village. Answer: Globalization helps for global village.

1. (H) Answer in one sentences

Question 1. Which factors are included in internal environment? Answer: Value system, vision, mission and objective management structure, Internal power relationship, Human resources, Physical facilities, Marketing resources, etc. are the factors included in internal environment.

Question 2. What are the powers of legislature? Answer: Policy making, law making, budget approving, executing control, etc. are the powers of legislature.

Question 3. Which factor influence the economic condition of the Nation? Answer: Economic condition of the nation is based on the gross domestic product, per capital income, availability of capital, growth of foreign trade and strength of capital market.

Question 4. Who possess the factors of production in socialist economy? Answer: In socialist economy Government possess the factors of production.

Question 5. In which environment are the methods and techniques of production included? Answer: Technological environment consist of the method and technical of production.

Question 6. When did Indian government launch New Economic Policy? Answer: Indian government launched New Economic Policy on 24th July, 1991.

Question 7. What is useful to reduced political interference in industry? Answer: Privatisation is useful to reduce political interference in Industry.

Question 8. How is the boundary less world possible? Answer: Boundary less world is possible through Globalisation.

2. Explain the following terms /concept.

Question 1. Business environment. Answer: Business environment refers to the external environment which includes factor outside the business leading to opportunities or threats of the business.

According to Bayard O. Wheeler “The total of all things external to firm and industries which affect their organization and operations is called as “Business Environment”.

Question 2. Liberalization. Answer:

Liberalization refers to the process of eliminating unnecessary controls and restrictions for smooth functioning of business.
Liberalization helps in achieving a high growth rate, easy availability of goods at competitive rates, high foreign exchange reserve, strong rupee and good industrial relation, etc.

Question 3. Privatization. Answer:

Privatization refers to reduce the involvement of state or public sectors by involving of private sector in economic activities.
It implies government Sectors to be sold or given to private individuals to run them.

Question 4. Globalisation. Answer:

Globalisation means integration of national economy and societies through cross country flows of information, ideas, technologies, good services, capital, finance and people.
It also means “boundary less world”.

Question 5. Social environment. Answer:

Modern business is a social system in itself and forms a part of the larger social system represented by society in general.
The class structure of the society affects the business. Such as occupation of the people, their education, income level, social status, attitude towards living, work and social relationship.

Question 6. Economic environment. Answer: Economic environment comprises of economic condition, economic policies and economic system, basic economic philosophy, infrastructure, national income, money supply, saving stages in economic development and trade cycles.

Question 7. Political environment. Answer:

Government and its policies affects business firms.
It includes stability and peace in the country, specific attitudes of elected representative. Ideology of the political parties influences the business organization and attitudes of government officials towards business has an impact on business.
It comprises three vital institutions like Legislature, Government and Judiciary.

Question 8. Internal environment. Answer: Internal environment compromises of policies decided by by shareholders, managers, labour unions and employees which can be controlled which helps to make specific, proper understanding in strengthening the business.

3. Study the following case/situation and express your opinion.

(1) The court passes an order to ban polythene bags as the bags are creating many environmental problems which affects the life of people in general. (2) Society in general is more concerned about quality of life. The government decided to give subsidy to jute industry to promote this business.

Question 1. Identify the different dimensions of business environment. Answer: The different dimensions of business environment are:

Legal environment
Natural environment
Social environment
Political environment
Economic environment

Question 2. Comment on it. Answer: The different dimensions of business environment are

Legal Environment : Court passes order to ban polythene bags.
Natural Environment : The Court order will solve environmental problems which affects the life of people in general.
Social Environment : Society is concerned about quality of life and better standard of living
Political Environment : Government framed a policy to give subsidy to jute industry.
Economic Environment : Subsidy to Jute industry will promote business of Jute industry and this will help in economic development.

2. Anchor company manufacturing light tubes increased expenditure on Scientific Research and Development and discovered a technology that made it possible to produce an energy efficient light tubes that lasts at least twenty times as long as standard tubes. It resulted in growth and profitability of the company.

Question 1. Identify the dimension of business environment. Answer: Technological Environment: Scientific research for innovation in product increased its production and it resulted in growth and profitability of the company. Internal environment of company led to growth and profitability.

Question 2. State importance of business environment. Answer: Business environment helps in determining opportunities and threats, identify firms strengths and weaknesses, continuous learning, image building meeting competition and give direction for growth.

3. Make in India is an initiative launched by the government of India. It focuses on job creation and skill development and it is in twenty five sectors of the economy. Under the initiative, brochures on these sectors and web portal were released. The initiative aims at high quality standards and minimizing the impact on environment .It also seeks to attract foreign capital investment in India.

Question 1. Identify the dimension of business environment. Answer: The various dimensions of business environment referred in the above case are:

Technological environment
Economic-environment

Question 2. Comment on it. Answer: Make in India is the policy of government as per its ideology. As it focusing on job creation and skill development in 25 sectors of economy, it convey two values through this initiative. High quality standards and concern for environment. It also aims to attract foreign capital investment in India.

4. Distinguish between the following

Question 1. Social Environment and Economic Environment. Answer:

Question 2. Political Environment and Legal Environment. Answer:

Question 3. Liberalization and Privatisation. Answer:

Question 4. Globalization and Liberalization. Answer:

Question 5. Privatization and Globalization. Answer:

5. Answer in brief.

Question 1. State any four features of Social environment. Answer: The four features of social environment are as follows:

Customs and Traditions : This decides the celebration of various festivals like Diwali, Id, Christmas and its effect on business.
Social Institutions and Groups or Social Aspects: Literacy level, educational system, cultural heritage standard of living of the various groups of people affect the social environment of business.
Social Values : Cultural and social justice, national integration affect the business. Beliefs also help the business to meet the customer needs.
Social Trends : Now a days people have become health conscious and therefore there is a sale of various types of goods like organic food, sugar free products etc.

Question 2. Describe any two factors of economic environment. Answer: Economic environment has direct influence on business.

The Economic System : Economic activities depend upon the nature of economic system which are: (a) Capitalist economy : e.g. U.S.A. (b) Socialist economy : e.g. China (c) Mixed economy : e.g. India
Economic Policies : The various economic policies of the government has a direct influence on economic environment. For e.g. import and export policy, educational policy, agricultural policy, industrial policy, foreign investment policy, etc.
Economic Condition : The stage at which the growth stands, employment rate, rate of interest, etc. All those determine development of the country.

Question 3. State any four features of globalization. Answer: Features of globalization are as follows:

Purchase and sale of goods and services from one country to another.
Opportunity to start and do business in any part of the world.
Reduction in gap between domestic and international market.
Possibility of quick and rapid economic development.
Enhances the opportunity to exchange new ideas and technology across the nations.

Question 4. State any four reasons of the need for privatisation. Answer: There is need for privatisation because of the following reasons:

To bring more efficiency in the working of business firms.
To reduce political interference in the working of the firms and companies.
To improve the quality of products
To bring efficiency in management of the organization.
To create discipline in capital market.

6. Justify the following statements.

Question 1. External factors of business environment are beyond control. Answer:

Factors which influences the business policy of an organization can be divided into internal and external factors.
Business has no control over external forces.
These are those factors which provide opportunities or pose threats to the organization.
Factor such as social customs, values, economic policies, technological development, political ups and down, legislation together constitute political, social, economic, legal and technological diversions of business, hence, they are not in the hands of business organizations.
Internal factors are controllable and business unit can modify their plans, policies, etc. (Students can give example of social, political, legal environment to justify further)

Question 2. Business firm should be aware of the changes in society. Answer:

The success of every business depends on adopting itself to the environment in which it functions. Modern business is rightly termed as socio-economic activity.
There is reciprocal relationship between business and society.
Business is affected by class structure of the society which depends upon factors such as occupation its own culture, income, etc.
Every society depends its own culture, customs, tradition, values, ethics, etc. social trends are also changing fast. For e.g. large number of people are eating fast food and go to gyms. So many fast food outlets and gyms are coming up in towns and cities.
Social values and traditions such as celebration of Diwali, Eid, Christmas also affect business.

Question 3. Political stability builds up confidence among business people. Answer:

Business firms are affected by the government and its policies.
Political force decide the nature of business, device performance and projects for development.
Political environment includes stability and peace in the country. Political stability builds confidence among different interest groups and investors because long term policies and projects will be started by the government and if the government keep on changing every six months or in a year.
This will impact long term decisions of development for the country, because political parties identify forms their decision making, hence if a government gets its full tenure of 5 years, it can complete its projects and plans and win the confidence of the people.

Question 4. Economic environment has direct influence on business. Answer:

Economic environment consists of economic condition, economic policies and economic system along with basic economic philosophy, infrastructure, national income, money supply etc.
Economic condition is based on GDP, per capital income, availability of capital, growth of foreign trade and capital market.
Where as economic polices framed by the government from time to time changes with changes in the government.
Every business has to function within the policy framework and responds to changes accordingly.
This relates to Industrial Policy, monetary policy, foreign investment, EXIM policy education policy etc. Also the scope of private business and government regulation depends on the economic system such as capitalist economy, Socialist or mixed economy which impacts business decisions.

Question 5. Social trends provide business opportunities. Answer:

Society and business are inter-dependent.
Class structure such as occupation,education,income level social status, attributes etc impact business decisions.
Social trends are any type of activity that is practised in the society as a whole.
Trends can be for short period or long lasting. As technology progresses the changes in social trends do changes.
Companies use their ability to anticipate the social change as part of their business marketing policy, to grab the business opportunities.

Question 6. An adequate knowledge of rules and regulations is essential for better business performance. Answer:

Any business in a country can be started, regulated and controlled within the legal framework of a country.
Separate set of laws are framed by all countries to control and direct the business affairs.
Knowledge of law, rules and relegations helps the business managers to take prompt decision in making business policies.
Various laws are implemented for influencing the business, protect and safeguard the business, as well as the consumers.

7. Attempt the following

Question 1. Importance of business environment. Answer: Importance of Business Environment: (i) Flexible and Dynamic : Changing environmental factors should be appraised from time to time. So as to keep the business flexible and dynamic. The new opportunities and threats created by the environment can be appraised by the corporate planners to make the most of it. Turbulent market conditions, less brand loyalty, more demanding customers and intense global competition are some of the images of todays business environment. In order to cope with these significant changes, organization must understand and examine the environment and develop suitable course of activity.

(ii) Opportunities and Threats : Study of business environment enables a business enterprise to visualise future problems that can arises as also future business prospects in advance. Deriving benefit from honourable business opportunities is possible as also it can face the problems boldly. Awareness of environment help an organisation to take advantage of such opportunities instead of loosing them to competition. It helps organisation to identify various threats on time and serves as an early signal.

(iii) Competition : Understanding the business environment helps to obtain qualitative information which in turn is useful in formulating business plans, policies and strategies for the future course of action.

(iv) Utilization of Resources Optimally : Optimum use of available resources for the business enterprise is possible by studying the business environment. It enables the enterprise to take full advantage of the policies implemented by the government.

(v) Strength and Weakness Identification : With the change of technology and global development it helps to analyze individual strength and weakness of the business understanding the challenges, appropriate decisions are taken on timely basis.

(vi) Knowledge : Study of environment is necessary to discover and exploit new opportunities for business expansion broad strategies and long term planning enable the development of a formidable business wait.

(vii) Image Building: Environment study makes it possible for the business to expand and to make it acceptable and agreeable to different social groups. By fulfilling its social obligations towards different groups of society, business can create goodwill and reputation for itself.

(viii) Adaptability to Socio-Economic Changes : A business organization needs to show its keen intentions towards adapting to the socio-economic changes.

Question 2. Social Environment. Answer: Business is a economic and social activity. It has to produce goods according to the requirement of the customers. Satisfying customer is the basic need of business. Therefore, while manufacturing or producing goods, business has to take into consideration social factors like traditions, customs, education, habits, values, life styles, thinking and earnings of the people of country. Changes in social environment are a must and management has to take into consideration these factors which determines the following aspects. 1. Social Aspect : Literacy level, educational system, tradition and customs, transition of labour, etc. are the important aspect of social environment. It helps to analyze the needs of the people and accordingly the business opportunities are identified.

2. Social Trends : Business practices and procedures must be in tune with the social beliefs. Growing number of working women and changing life style have increased the demand for household appliances in India.

3. Social Values : Cultural and social values, (social justice, national integration, etc.), family organization and caste structure, social institutions and groups, are taken to consideration while making practices and procedures of business.

4. Traditions : Customs and traditions. (Diwali, Id, Christmas, etc.) also has an effect on the business. The businessmen have to be more responsible towards the demand of the people accordingly.

Question 3. Economic environment. Answer: 1. Economic environment comprises of economic condition economic policies and economic system which are the important factors influencing development and trade cycles, national income, etc.

2. Economic Condition : If refers to present state of economy of a country or region based on gross domestic product, per capita income, availability of capital, etc.

3. Economic Policies: Government frames economic policies time to time influencing the business activities. In order to controls the business in the interest of the politics, e.g. – Industrial policy, monetary policy, foreign investment policy etc.

4. Economic System: It refers to the scope of private business and extent of government regulation on economic activities determines the nature of economic system i.e. – capitalist social or mixed economic.

Question 4. Political Environment. Answer: Political dimensions or environment includes the country’s political system or its ideologies or condition i.e. dictatorship or democracy or communist government or socialistic government. It indicates the general stability and peace in the country and attitude of the elected government representatives towards business.

Political stability builds up confidence among business people to invest in long-term projects for the growth of the economy. In India we have adopted mixed economy and growth rate often remains moderate. Indian political system comprises three vital institutions like Legislature, Government and Judiciary.

Legislature : legislature is very powerful force that decides the nature of business, programmes, project, for the development of the country through policy making, law making, budget approving, etc.
Government : The framework of policies are implemented by government which effects the business organization to under take the responsibilities of the society.
Judiciary : It determines the work of executives to carry out the policies in a systematic manner, in order to settle relationship between citizens and the government.

Question 5. Impact of new economic policy on business and industry. Answer: (A) Introduction : On July, 1991, the Government of India announced its New Industrial Policy. It brought about radical changes in the Economic Policy. The three main pillars of Economic reforms are L – P – G (Liberalisation, Privatisation and Globalisation). The main purpose was to modernise India’s Industrial system, implement new techniques, remove unproductive control, encourage private investment and integrate our economy with the global economy.

(B) Impact of changes in Government Policy on Business and Industry: 1. Budgetary Support: The Central Government’s budgetary support for financing the public sector outlays has declined over the years. In order to survive and grow, PSUs have to be more efficient and self sufficient so as to compete with private sector.

2. Increase in Competition : Competition for Indian firms has increased due to the changes in the rules of industrial licensing and entry of foreign firms, for e.g. Service Industries like Insurance, Banking, Telecommunications, Hotel and Airlines, etc. which were earlier in the public sector are now facing competition from private players such as Bajaj Alliance, Max Life, Star Life, Insurance, low cost airlines like Indigo, etc.

3. New Trade Policy : The new trade policy has helped the Indian Firms to enter into foreign markets and earn the foreign exchange required for importing raw materials, spare parts and components they needed for keeping their production lines going.

4. Demanding Customers : Today’s market is customer oriented as customers are well informed and there is growing awareness among them about the malpractices adopted by traders, consumer rights, consumer education and so on. Moreover, competition in the market gives the customer wider choice in purchasing good quality product and makes customer more demanding.

5. Need for Human Resource Development : New technologies require expert knowledge and skill in various fields. Moreover, newer markets made it compulsory for companies to acquire trained personnel with high degree of competence and commitment. Hence, there is a need for well trained staff and thereby develop human resources.

6. Change in Technological Environment : Increased competition and advancements in the field of technology have forced the business units to develop new ways to survive and grow in the market and keep pace with latest technological developments.

7. Change in the Concept of Marketing : Earlier business organisations were production oriented but due to fast changing business world it has now become market oriented. This changed to societal concept where needs of society are kept in mind by the producers. The latest is relationship marketing whereby it is not only producing goods for consumers but maintaining long term relationship with them so as to sustain them.

8. Answer the following

Question 1. What is business environment? Explain the important of business environment. Answer: (A) Business Environment: A business is defined as buying and selling activity to generate income. Business consists of several interrelated and interacting elements. Business is an economic and social activity of the society. Society is an integral part of the business and its interest cannot be ignored.

Business environment consists of economic, social, legal, technological and political situation. Business obtains money, material, machinery and manpower and other resources from environment. According to B. O. Wheeler – Business environment is “the total of all things external to firms and individuals which effect their organisation and operations”. According to Oxford English Dictionary – “Business Environment refers to those aspects of the surroundings of a business enterprise which influence or effect its operations and determine its effectiveness.” Basically business environment consists of all internal and external factors that influence the nature and scope of business activity.

(B) Importance of Business Environment: (i) Flexible and Dynamic : Changing environmental factors should be appraised from time to time. So as to keep the business flexible and dynamic. The new opportunities and threats created by the environment can be appraised by the corporate planners to make the most of it. Turbulent market conditions, less brand loyalty, more demanding customers and intense global competition are some of the images of todays business environment. In order to cope with these significant changes, organization must understand and examine the environment and develop suitable course of activity.

Question 2. Explain the new economic policy in details. Answer: The new economic policy was introduced by the Government on 24th July, 1991, on the failure of the earlier Industrial policy prevailing in India. The new policy was known as LPG i.e. Liberalisation, Privatisation and Globalisation. This was the brain child of the Prime Minister P. V. Narasimha Rao and the finance minister Dr. Manmohan Singh.

(i) Liberalisation: It means to liberate the industry, trade and commerce from the unnecessary restrictions and regulations that curtailed the freedom of enterprise. Liberalisation has helped the Indian economy to open up and allowed the entry of foreign business in India. The interaction with the world has happened after the 1991 policy.

Liberalisation policy has brought about the following measures:

Encouraging Direct Foreign Investment.
Wide Choice of products and services enjoyed by the customers.
Reduction in control of Foreign Exchange.
Cost of products, price and quality in tune to the global markets.
Changing the approach towards industrial sickness.
Production of quality products to meet the competitive markets.
Freedom to choose the Scale of business.
Reduction in tax rates, tax holidays, etc.
Encouraging new technology, technological upgradation and foreign collaboration.
I mport of machinery, goods and other services on easy terms.
Abolishing licensing system for most of the industries.
Opening telecommunication sector.

Liberalisation has thus made the country achieve high growth rate, made the rupee stronger and helped good industrial relations.

(ii) Privatisation: Privatisation is a process of transferring ownership of business, enterprise agency or public service from the public sector (government) to the private sector. Features of Privatisation are:

To provide variety of business units to consumers.
To ensure less political interference in running the business.
To bring about more accountability.
To reduce labour problem.
To bring about a market oriented approach.
To make competition more intense.
To bring about more efficiency.
To maintain capital market discipline.

The government of the country has followed a disinvestment policy.

Disinvestment means:

When there is a sale of a public undertaking in full or part of private sector without transferring the ownership to private sector.
The management and control is transfered to public undertaking e.g. Maruti Udyog Ltd., SAIL, ONGC, etc.
Improvement in the performance of the industries through Memorandum of Understanding (MoU). Privatisation helps the private sector to be efficient result oriented, productive and active. Capitalist countries like America and Japan have followed privatisation.

(iii) Globalisation: When the operation and organization of business activities are on a global scale, it is called as Globalisation. It is integration of business activities by considering the entire world is one market.

In short globalisation means a boundary less world, where there would be a free flow of goods, services, information, capital and people across nations. Globalisation has effect on socio-economic and political sphere of life.

Features of Globalisation:

Buying and selling goods from/to any country is possible due to globalisation.
Establishing manufacturing, production and distribution facilities in any part of the world.
Freedom to set up’ and operate business in any part of the world.
Render faster economic development of any country.
Exchange of new ideas and technology across nations.
Narrowing differences between domestic and international market.
Direct Foreign private participation in the industrial development of any country.

Thus it could be seen that globalisation is an evolutionary concept. Through the policy of 1991 the government moved the country to this globalisation pattern.

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Class 11th Business Studies - Private, Public and Global Enterprises Case Study Questions and Answers 2022 - 2023

By QB365 on 09 Sep, 2022

QB365 provides a detailed and simple solution for every Possible Case Study Questions in Class 11 Business Studies Subject - Private, Public and Global Enterprises, CBSE. It will help Students to get more practice questions, Students can Practice these question papers in addition to score best marks.

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Private, public and global enterprises case study questions with answer key.

11th Standard CBSE

Final Semester - June 2015

Business Studies

There is an organization in most traditional form of public sector enterprises which are established by the departments of the ministry and are considered part or an extension of ministry itself. It is not autonomous or independent legal institution. It acts through the government. (a) Which type of organization is being referred to in above lines? (b) Explain any two merits of this organization? (c) Explain any two demerits of this organization?

In an organization, there are 51% shares are owned by central government. It has a separate legal entity and it is established under the Indian Companies Act, 2013 and is registered and governed by the provisions of Indian Companies Act, 2013. It is established for purely business purposes and compete with the companies in private sector in true spirit. (a) Identify the form of organization being referred to in above lines. (b) Explain any two merits of this form of organization. (c) Explain any two demerits of this form of organization. (d) Give two examples of this form of organization.

It is an organization which is a public enterprise. It came into existence by a special Act of the parliament. Its powers and functions, rules and regulations governing its employees and its relationship with government departments are defined by the ActJ statute. It is a corporate body created by the legislature with defined powers and functions and is financially independent. It has a clear control over a particular type of commercial activity or a specified area. It has a separate legal entity, i.e. in the eyes of law, it is a different person. (a) Identify the form of organization being referred to in above lines. (b) Explain any two merits of this form of organization. (c) Explain any two demerits of this form of organization. (d) Give two examples of this form of organization.

Anjana and Babita are best friends. Both of them are commerce students. Anjana tells Babita that all government undertakings have common features and all organizations under Public Sector enjoys same merits and demerits. Babita tells Anjana that it is not true. There are many forms of Public Sector undertaking and each form has its own merits and demerits. (a) Who of the two is right? (b) Name different forms of organizations in public sector. (c) Give three points of difference in these forms of organizations.

Public sector has a concern for social welfare and private sector has an advantage of innovation and efficiency. Private sector is crazy for profit and public sector is lacking efficiency. In this situation, it is really a problem which form of organization is suitable. (a) Is there any form of organization which combines benefits of both? Identify and name it. (b) Give two merits of this type of organization (c) Give two demerits of this type of organization.

Sanjay has just completed his MBA. His father is a businessman. He suggests Sanjay also do his own business. But he claims that starting and operating a business in his age was different from now. These days there is stiff competition and consumer is the king in the market. Many other aspects of business have also changed. His father claims that things have changed but they had different kind of challenges like too many government intervention and paper formalities, lack of technology, non-availability of infrastructural facilities etc. But running a business was a challenge and still is a challenge. (a) In the light of above discussion, which era do you think Sanjay and his father belonging to? (b) How has business environment changed in these two eras?

In India, many multinational companies are operative but majority of them are producing goods and services for richer section. They are least bothered for weaker section of the society. In many cases they are producing goods like pedigree in a country where 26 million human beings sleep without food, resources are being allocated for production of dog food. Therefore, it seems that production should be given in the hands of Indian companies which understand Indian priorities and allocate resources accordingly. In the light of above facts, discuss merits and demerits of multinational companies.

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Private, public and global enterprises case study questions with answer key answer keys.

(a) Departmental Undertaking (b) Two merits: (i) There is complete Government Control and these are answerable to Parliament; (ii) They are a source of Income and they are suitable from national security point of view. (c) Two Demerits: (i) There is lack of flexibility an delay in decision making. (ii) There is undue government intervention.

(a) Government Company: (b) Merits: (i) It is easy to form. (ii) There is operational autonomy and it has an independent status. (c) Demerits: (i) Freedom is name sake only, practically, there is lot ofinterference from different government bodies concerned. (ii) There is lack of accountability. (d) Hindustan Machine Tools, The Hindustan Steel Limited, State Trading Corporation of India, Coal India Limited, Hindustan Aircrafts Limited etc.

(a) Statutory Corporation (b) Merits: (i) They have operational Flexibility. (ii) They have an autonomous set up and hence they are free from interference. (c) Demerits: (i) Autonomy of these corporations is theoretical only. Practically there is lot of interference. (ii) Members of Board of directors are appointed by the government who are civil servants, politicians and professionals. They also face pressure from government bodies. (d) Reserve Bank of India, Life Insurance Corporation of India, Food Corporation of India, State Financial Corporation, Damodar Valley Corporation, State Bank of India etc.

(a) Babita is right. (b) Different forms of organizations in public sector are: (i) Government Company (ii) Departmental Undertaking (iii) Statutory Corporation (c) Any three

(a) Yes, Public Private Partnership (b) Merits: (i) PPP attracts private investment which is of utmost importance to undertake such essential projects. Involvement of private sector will bring efficiency in implementation of projects and cut down cost and time. (ii) It helps in bringing innovative design and constructive practices. Involvement of experienced and creditworthy sponsors and commercial lenders can increase economic viability of the projects. (c) Demerits: (i) Cost of production increases for the government as private sector also demands its profit share for the money it invests. (ii) Control gets divided between private and public sector. Government remains involved in all stages and private sector is responsible for more commercial functions like project design, construction, finance and operations.

(a) Sanjay's father would have operated before 1991 and Sanjay would be operating in the era of Liberalization, globalization and privatization. (b) Before 1991, major challenges for a business were as follows: (i) Lack of infrastructure facilities (ii) Too many government rules and regulations (iii) Lack of technology After 1991, challenges are: (i) Too much competition (ii) Rapidly changing technology (iii) Frequent changes in technology (iv) Exceptionally demanding consumers.

MNCs do have an advantage of huge size, latest technology and huge capital investment but it has following disadvantages. (a) It disregards National Priorities. (b) It leads to Creation of Monopoly. (c) It leads to Depletion Of natural resources. (d) It creates Threat to National Sovereignty.

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12th Std Commerce
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Samacheer Kalvi 11th Commerce Guide Book Answers Solutions

Samacheer Kalvi 11th Commerce Book Solutions Answers Guide

Class 11 Business Studies Case Study Questions

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11th Standard Commerce Study Materials , Guides & Notes

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