Business Studies: 2017: CBSE: [Delhi]: Set – III
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Why is employment interview conducted in the process of selection?Marks:1
Employment interview is an in-depth conversation with the candidate so as to seek information about the applicant as well as analyse their suitability for the job.
Hina Sweets is a renowned name for quality since 1935. Harsh the owner of Hina Sweets was worried as the sales had declined during the last three months. When he enquired from the sales manager, the Sales Manager reported that there were some complaints about the quality of sweets. Therefore Harsh ordered for sample checking of sweets.
Identify the step taken by Harsh that is related to one of the functions of management.Marks:1
The management function performed by Harsh is controlling. The step taken under this function is measurement of actual performance by ordering to check the quality of sweets.
Give the meaning of Motivation as an element of directingMarks:1
Motivation as an element of directing is the process of stimulating people to work for achievement of goals.
What is meant by financial management?Marks:1
Financial management is related to optimum utilization of funds acquired through different sources of finance for the purpose of investing these funds in most profitable projects
Sunita took her niece, Aishwarya for shopping to Benetton to buy her a dress on the occasion of her birthday. She was delighted when on payment for the dress, she got a discount voucher to get 20% off for a meal of ₹ 500 or above at a famous eating joint.
Identify the technique of sales promotion used by the company in the above situation.Marks:1
The technique of sales promotion used is usable benefit. This technique helps to boosts sales of the company.
Meca ltd. a reputed automobile manufacturer needs rupees ten crores as additional capital to expand its business. Atul Jalan, the CEO of the company wanted to raise funds through equity. On the other hand, the Finance Manager, Nimi Sahdev said that the public issue may be expensive on account of various mandatory and non-mandatory expenses. Therefore, it was decided to allot the securities to institutional investors. Name the method through which company decided to raise the capital.Marks:1
The company decided to raise additional through Private placement. In this method, securities are allotted to institutional investors by the company.
Differentiate between formal and informal organization on the basis origin.Marks:1
On the basis of origin:
Formal organization originates as a result of rules and regulations in an organization, whereas Informal organization originates as result of social interaction between people.
Alpha Enterprises is a company manufacturing water geysers. The company has functional structure with four main functions Production, Marketing, Finance and Human resources. As the demand for product grew, the company decided to hire more employees. Identify the concept which will help the Human Resource Manager in deciding the actual number of persons required in each department.Marks:1
The concept that will help the Human Resource Manager is workload analysis which helps to estimate the number and type of personnel required in different departments or jobs.
Somnath Ltd. is engaged in the business of export of garments. In the past, the performance of the company had been up-to the expectations. In line with the latest technology, the company decided to upgrade its machinery. For this, the Finance Manager, Dalmia estimated the amount of funds required and the timings. This will help the company in linking the investment and the financing decisions on a continuous basis. Dalmia therefore, began with the preparation of a sales forecast for the next four years. He also collected the relevant data about the profit estimates in the coming years. By doing this, he wanted to be sure about the availability of funds from the internal sources of the business. For the remaining funds he is trying to find out alternative sources from outside.
Justify the financial concept discussed in the above para. Also state the objectives to be achieved by the use of financial concept, so identified.Marks:3
The financial concept used is Financial planning.
Financial planning is the process for estimating the funds needed for business and helps in identifying the sources through which funds can be procured and avoiding wastage of resources.
It has following objectives:
1. Ensuring availability of funds as per the needs of the company so that the company can carry out its plans and activities without any hindrance.
2. It helps in Optimum utilization of funds so as to avoid wastage and duplication of efforts helps in smooth working of business activities through effective planning and functioning.
Ginika, Tanish and Rohit were friends from college days and now they are doing different kinds of business. They regularly meet and discuss their business ideas and exchange notes on customer satisfaction, marketing efforts, product designing, selling techniques, social concerns etc. In one of such meetings, Ginika drew the attention of Tanish and Rohit towards the exploitation of consumers. She told that most of the sellers were exploiting the consumers in various ways and were not paying attention towards the social, ethical and ecological aspects of marketing, whereas she was not doing so. Tanish told that they were under pressure to satisfy the consumers, but stated that the consumers would not buy or not buy enough unless they were adequately convinced and motivated for the same. Rohit stressed that a company cannot achieve its objectives without understanding the needs of the customers. It was the duty of the businessmen to keep consumer satisfaction in mind because business is run by the resources made available to them by the society. He further stated that he himself was taking into consideration the needs of the customers.
Identify the various types of thinking that guided Ginika, Tanish and Rohit in the making efforts of their business. Also, state one more feature of the various types of thinking identified that is not given in the above para.Marks:3
Different types of thinking highlighted are:
1. The thinking followed by Ginika is based on societal concept of marketing. This concept focuses on social welfare and customer satisfaction, so as to take care of the interests of society and needs of the customers at large in an ethical manner.
- One of the features of this concept is that the organisations maximize their profit through customer satisfaction and social well-being.
2. The thinking followed by Tanish is based on selling concept of marketing. This concept states that organisations should focus on the selling the product so as to achieve maximum profits.
- This concept uses aggressive selling techniques like sales promotion, personal selling, advertising, etc. so as to convince the customers.
3. The thinking followed by Rohit is based on marketing concept. This philosophy focuses on market research and identifies the needs of the customers first so as to achieve customer satisfaction.
- This concept help firm to achieve its objective of earning profits through use of market research and marketing mix tools so as to satisfy customers better than its rivals.