BUSINESS STUDIES 215 | NIOS Free Solved Assignments (2021 - 2022) | ENGLISH MEDIUM TMA SECONDARY

Business Studies (215)
SECONDARY COURSE
Tutor Marked Assignment (TMA)
NIOS FREE SOLVED ASSIGNMENTS
Max. Marks: 20
Session 2021-22

Note: (i) All questions are compulsory. The Marks allotted for each question are given beside the questions.

(ii) Write your name, enrollment numbers, AI name and subject on the first page of the answer sheet.

1. Answer any one of the following questions in about 40-60 words.

(a) Advertising is an effective aid in selling the goods. How? (See Lesson 2)

Ans: Advertising is the most commonly used tool of promotion. It creates a proper base for the salesman by acquainting more people, in a shorter time, with the merits of a product, its new uses, new varieties and so on. It reduces the effort of the salesmen as they can reach the right prospects with the least effort.

(b) What do you understand by economic activities? Give two examples of economic activities. (See Lesson 1)

Ans: Economic activities are those that are concerned with production, exchange and distribution of goods and rendering of services to earn money.

Examples of Economic activities:

a) Purchase and sales of goods and service i.e., doing business.

b) Giving services to the employer i.e., employment.

2. Answer any one of the following questions in about 40-60 words.

(a) Describe how sole proprietorship facilitates better control in business. (See Lesson 3)

Ans: Sole trader is a type of business unit where a person is solely responsible for providing the capital, for bearing the risk of the enterprise and for the management of business. The right to run the business and make all decisions lies absolutely with the sole proprietor. He can carry out his plans without any interference from others.

(b) Explain the concept of Producers Co - operative Societies with the help of an example. (See Lesson 4)

Ans: Producer’s cooperative societies are set up to protect the interest of small producers. The members comprise of producers desirous of procuring inputs for production of goods to meet the demands of consumers. The society aims to fight against the big capitalists and enhance the bargaining power of the small producers. It supplies raw materials, equipment and other inputs to the members and also buys their output for sale. Haryana handloom is an example of Producer’s cooperative societies.

3. Answer any one of the following questions in about 40-60 words.

(a) Business involves risk and uncertainty of income. Explain. (See Lesson 1)

Ans: In every business, a risk of inadequate profits or losses due to uncertainty is present.  Such risks arises due to changes in market conditions including fluctuations in demand and supply, changes in prices or changes in fashion and tastes of customers. Also some uncertain events such as Natural calamities, change in demand and prices, changes in government policy, improvement in technology, etc. can badly affect the profitability of business.

(b) How transport facilitates large - scale production at low costs? (See Lesson 5)

Ans: Transportation comprises freight services together with supporting and auxiliary services by all modes of transportation i.e. rail, road, air and sea for the movement of goods and international carriage of passengers. Carrying capacity of such mode of transport is more due to which huge quantity of raw materials can be transported from one place to another at minimum charges. This facilitates large scale production at low costs.

4. Answer any one of the following questions in about 100 to 150 words.

(a) A co-operative society is a special type of business organization different from other forms of business organization. In the light of the statement discuss the characteristics of co-operative society. (See Lesson 4)

Ans: A co-operative society is a voluntary association started with the aim of service of its members. It is a form of business where individuals belonging to the same class join their hands for the promotion of their common goals. A Co-operative Society is established by group ten or more persons who voluntary come together for mutual benefit. It is based on the principles of collective effort, mutual self-help, equality and freedom.

Salient features of cooperative societies

a)      Voluntary organization: The membership of a cooperative society is voluntary. Member having common interest can enter and exit from the society as and when they desire.

b)      Equal voting rights: A co-operative runs on a democratic principle in which every member has equal voting rights. “One man, one vote” principle is followed in a co-operative society irrespective of number of shares held by members.

c)       Suited for relatively economical weaker sections: Every co-operative society aims at providing goods and services at cheaper cost to the economical weaker sections of the society.

d)      Objective is mutual help and service motive: The main aim of a co-operative society is to serve its members and not to maximise profits.

e)      Open membership: Membership of a co-operative society is open for all.

f)       Separate legislative entity: Registration of a co-operative society is required under the Co-operative Societies Act which provides a separate legal entity to the co-operative society. 

(b) Distinguish between a Bonded and a Co-operative warehouse. (See Lesson 6)

5. Answer any one of the following questions in about 100 to 150 words.

(a) Explain the classification of different types of e-commerce? (See Lesson 2)

Ans: E - commerce is an electronic system of dealing in all-commercial activities and business transactions through Internet. E-commerce can take place within or among three groups of economic factors namely business, government and individuals. E-commerce is of 6 types which are listed below:

a) B2B Commerce: B2B model refers to electronically conducting of business transactions between business to business.

b) B2C Commerce: B2C model refers to electronically conducted Business transactions to Customers.

c) Consumer-to-Business (C2B): C2B model provides the consumers an opportunity to sell their products and services to the companies.

d) Business-to-Administration (B2A): B2A model provides the businesses a platform to bid on government auctions, tenders, application submission, etc. Increase in e-government now enhanced the scope of B2A model.

e) Consumer-to-Administration (C2A)L The C2A platform is meant for consumers, who may use it for requesting information or posting feedbacks concerning public sectors directly to the government authorities/administration.

f) C2C Commerce: C2C model refers to electronically conducted Business transactions between Consumers to Consumer.

(b) All types of ownership have some limitations and the sole proprietorship is no exception. Discuss the various limitations of sole proprietorship. (See Lesson 3)

Ans: Limitations of sole trade business:

A sole proprietorship form of organisation is not free from limitations. Some of the major limitations of sole proprietorship are as follows:

(i) Limited finance: Financing capacity of a sole proprietor is limited to his personal savings and borrowings from friends and relatives. Financial institutions may hesitate to extend a long term loan to a sole proprietor. Lack of resources is one of the major for the slow growth of a sole trade business.

(ii) Lack of continuity: In the eyes of the law the business unit and the owner are the same. Death, insolvency or illness of a proprietor affects the continuity of business and can lead to its closure.

(iii) Unlimited liability: Liability of a sole trader is unlimited. He has to bear all the losses of his business. Also his personal property is liable for the repayment of the outsider’s debt.

(iv) Limited managerial skill: The managerial skill of a sole trader is limited. He cannot be expert in each and every aspects of business such as accounting, management, purchase management etc. Thus decision making may not be balanced in all the cases. Also, due to limited resources, sole proprietor may not be able to employ and retain talented and ambitious employees.

6. Prepare any one project out of the given below:

(a) Your friend is facing a difficulty in establishing an effective communication with his friend. Explain him what could be the barriers of effective communication. Also guide him to solve such barriers. (See Lesson 7)

Ans: Effective communication is very important for getting success in any field. But there are some barriers in effective communication which are listed below:

1. Physical Barriers: There are the environmental factors that also obstruct or reduces the sending and receiving of communication, such as physical distance distracting noises and other interferences.

2. Socio-psychological or personal Barriers: There are certain socio psychological factors which restrict the free flow of communication. They are the attitude and opinions, status consciousness, ones relations with fellow workers, seniors, and junior’s etc. family background.

3. Organizational Barriers: Organisational barriers arise due to defects in the organization structure and the communication system of an organization. Some of the organisational barriers are:

I. Hierarchical distance.

II. Diversion.

III. Colouring.

IV. Status barriers.

V. Goal conflicts.

4. Semantic Barriers: Semantic means the relationships of signs of their reference. Semantic barrier arises from the disadvantages of the symbolic system. Symbols have got number of meaning and one has to choose any one of them according to the requirement of communication. Symbol or the language is the most important tool of communication which has to be used very carefully.

5. Mechanical Barriers: Mechanical barriers include inadequate arrangement for transmission of news, facts and figures. Example poor office layout and defective procedure and the use of wrong media led to poor communication.

Steps to overcome the barriers of communication in an organization

In order to remove barriers to communication an open door communication policy should be prepared and followed by managers at all levels. The superiors in the organization must create an atmosphere of confidence and trust in the organization so that the credibility gap may be narrowed down. Major efforts in this direction are:

1.       Two-way communication: The organization’s communication policy should provide for a two-way traffic in communication upwards and downwards. It brings two minds closer and improves understanding between the two parties the sender and the receiver. There should be no communication gap.

2.       Strengthening Communication Network: The communication network should be strengthened to make communication effective. For this purpose the procedure of communication should be simplified, layers in downward communication should be reduced to the minimum possible. Decentralization and delegation of authority should be encouraged to make information communication more efficient.

3.       Promoting Participative Approach: The management should promote the participative approach in management. The subordinates should be invited to participate in the decision making process. It should seek cooperation from the subordinates and reduce communication barriers.

4.       Appropriate Language: In communication certain symbols are used. Such symbols may be in the form of words, pictures and actions. If words are used, the language should be simple and easily comprehensible to the subordinates. Technical and multi-syllable words should, as far as possible be avoided. The sender must use the language with which the receiver is familiar.

5.       Good Listening: A communicator must be a good listener too. A good manager gives his subordinates a chance to speak freely and express their feelings well before him. The manager also gets some useful information for further communication and can also have a better understanding of the subordinates needs, demands etc.

6.       Selecting on Effective Communication Channel: To be effective the communication should be sent to the receiver through an effective channel. By effective channel mean that the message reaches its destination in time to the right person and without any distortion, filtering or omission.

(b) Ankit is interested in running a business of light goods. He wants to supply goods to different parts of the country. Suggest him the most suitable mode of transport mentioning its advantages and limitations. (See Lesson 6)

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