Business Studies 2016 CBSE Board paper (All India) SET 2
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Name and state the aspect of financial management that enables to foresee the fund requirements both in terms of “the quantum” and “the timings”.Marks:1
An aspect of financial management that enables to foresee the fund requirements is financial planning. It refers to estimation of capital required and deciding the sources of funds. Its objective is to ensure availability of funds and to see that the firm does not raise the funds unnecessarily.
Name the function of marketing which is concerned with the cost and location of target market.Marks:1
Transportation function of marketing is concerned with the cost and location of target market.
Suman bought a box of cheese of a reputed brand from a local shopkeeper. On opening the box she found a piece of stone in the cheese. She reported the matter to the shopkeeper who forwarded her complaint to the concerned company. Within a week the representative of the company visited Suman’s residence with an apology and as a replacement offered her a new cheese pack with four other varieties of cheese as compensation for the inconvenience to her.
State the consumer right which Suman exercised.Marks:1
The consumer right that Suman has exercised is ‘Right to seek redressal.’
Is management concerned only with doing the right task, completing activities and achieving goals without taking into consideration the cost benefit? Give reason in support of your answer.Marks:1
No, in an organisation management is concerned with doing the work with effectively and efficiently. Management is not only concerned with doing the right task, completing activities and achieving goals. It is also concerned with doing the task with efficiency i.e., with minimum possible cost and resources.
Name the type of organisational structure which promotes flexibility and initiative.Marks:1
Divisional structure in an organisation promotes flexibility and initiative.
Rizul Bhattacharya after leaving his job wanted to start a Private Limited Company with his son. His son was keen that the company may start manufacturing of mobile-phones with some unique features. Rizul Bhattacharya fell that the mobile phones are prone to quick obsolescence and a heavy fixed capital investment would be required regularly in this business. Therefore he convinced his son to start a furniture business.
Identify the factor affecting fixed capital requirements which made Rizul Bhattacharya to choose furniture business over mobile phones.Marks:1
The factor affecting fixed capital requirements which made Rizul Bhattacharya to choose furniture business over mobile phones is technology upgradaton.
Give the meaning of ‘Delegation’.Marks:1
Delegation of authority merely means granting of authority to subordinates to operate within prescribed limits.
State the role of ‘inspector’ in ‘functional foremanship’.Marks:1
In functional foremanship responsibility of inspector is to see that the work done confirms the standards of quality laid down by the planning department. Quality of the work done is checked by the inspector.
State any three limitations of planning function of management.Marks:3
The limitations of planning which lead to its failure are as follows –
i. Time consuming- Planning is time consuming process as it involves a lot of time in identifying, analysing and selecting the alternatives which sometimes lead to delay in decision making.
ii. Creates rigidity- Planning involves the determination of a course of action in advance. It may lead to internal inflexibility and procedural rigidity.
iii. Involves huge cost- Formulation of plans involves too much cost which is in the form of time spent, money spent etc. but sometimes there is little benefit from planning, instead it becomes a burden for the institution.
What is meant by a ‘Consumer’ as per the provisions of ‘Consumer Protection Act, 1986?Marks:3
Under Consumer Protection Act, 1986, a consumer is defined to mean:
(a) one who buys goods or hires services for consideration,
(b) any user of such goods with the approval of the buyer and beneficiary of services which is availed of with the approval of one who hires the services, and
(c) anyone who uses goods bought or services hired exclusively for earning livelihood by self-employment.