Business Studies 319 Solved Assignment 2021-22 | NIOS Senior Secondary Solved Assignment 2021 - 22

 NIOS Senior Secondary Solved Assignment 2021 - 22
Business Studies 319 Solved Assignment 2021-22
Tutor Marked Assignment
Max Marks: 20

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.    2

(a) Suresh is a layman who thinks that business and commerce are one and same. Do you think Suresh is right? If not, why? Explain. (See Lesson 1)

Ans: Business and Commerce are two different term. Here Suresh is wrong.

Meaning of business: Business is an economic activity, which is related with continuous and regular production and distribution of goods and services for satisfying human wants.

Commerce: It includes all those activities which are concerned with removing all the hindrances in the movement of goods from the manufacturer to the consumers. It includes trade and auxiliaries to trade. Commerce is mainly concerned with distribution of goods and services.

From the above explanation we can say that business and commerce are different.

(b) "A business may offer immense possibilities for growth and development to the businessman but it is not devoid of risks". Give two causes of business risk and explain them. (See Lesson 1))

Ans: Business Risk: Business risk means possibility of some occurrence, which might lead to some loss for the business. Though business provides tremendous opportunity of growth and development but the risk factor in business cannot be ignored.

Causes of business risks may be classified as follows:

a)      Natural Causes: Human beings have no control over the nature. Unforeseen events like heavy rains, famine, earthquake etc. affects business adversely.

b)      Economic Causes: Economic causes relate to fluctuations in demand and price or changes in the market conditions.

व्यवसायिक अध्ययन (319) | Business Studies 319 NIOS Free Solved Assignment 2021 – 22 (Hindi Medium)

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

(a) What is PPP? What are its merits? (See Lesson 6)

Ans: Public Private Partnership (PPP): A public private partnership is a contractual agreement between public and private companies where a private company cooperates with a public sector company to achieve mutual benefits. It's often used in the context of government policies and laws on privatization and outsourcing, where public sector entities contribute funds or resources for political or economic reasons while these companies provide services at affordable rates. Public Private Partnership (PPP) seeks to establish mutually beneficial relationships between the public and private entities.

Advantages of Public Private Partnership (PPPs)

1.    It is a strategy that helps governments to provide efficient public services without incurring too much debt with the help of private entities.

2.    Public Private Partnership (PPPs) is a business model that combines both public and private resources to work together which gives maximum benefit to both the sector.

(b) "What is a Multinational Corporation? Do you think that MNCs are important for a country? Cite any 5 examples of MNCs working in India? (See Lesson 6)

Ans: Global Enterprises/Multinational Companies: A global enterprise is one which owns and manages business in two or more countries. E.g.: Unilever Ltd, Coca cola, LG, Samsung, Hyundai Motors, Proctor and Gamble, etc.

MNCs are an important part of the Indian economy. They contribute to the GDP and employ a significant number of people in India.  An MNC in India has many advantages because it can easily conduct business, engage with local stakeholders, and provide employment opportunities.

Examples of Multi National Corporations in India

1.    IBM: IBM's partnership with the Indian government has led to the development of a digital governance ecosystem that is transforming services and making government more transparent and accountable.

2.    Microsoft: Microsoft is one of the top companies of USA which has been operating in India since 1991 and its workforce now numbers over 40,000 employees. It operates through three business units - Dynamics, Azure, and Intelligent Cloud.

3.    Amazon: Amazon launched its first store in India back in 2013 with plans to invest $7.5 billion USD by 2021. The company has 11 fulfillment centers across the countries that pack and ship up to 2.1 million packages every day.

4.    Uber Technologies: Uber Technologies opened its first office in Hyderabad during year 2015 and plans to hire more than 3,000 candidates by 2021.

5.    Samsung: Samsung is one of India’s largest and most successful MNCs with a market value of more than $350 billion.

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

(a) "E-Commerce refers to the process of conducting business with the help of electronic devices using the computer and interconnected telecommunication network". In the light of this statement explain the different types of e-commerce (B2B, B2C and C2C). (See Lesson 4)

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.

Types of E-commerce

1. B2B (Business to Business) refers to electronically conducted business where companies are primarily focused on selling products and services to business clients.

2. B2C (Business to Consumer) refers to electronically conducted business where companies are primarily focused on the consumers who buy the company's products or services.

3. C2C (Consumer to Consumer) refers to electronically conducted Business transactions between Consumers to Consumer.

(b) What is communication? Is it possible to communicate without speaking? How? Explain the different types of communication. (See Lesson 2)

Ans: The term communication is derived from a Latin word “communis” which means common. This means establishing a common ground. Now whatever is common is shared by all. But what is that which is shared by all in communication? It is fact, ideas, understanding, opinions, information etc.

According to Keith Davis, Communication is the process of passing information and understanding from one person to another.”

Communication can be possible even without speaking because communication can be both verbal and non-verbal.

Types of communication:

From the point of view presentation, communication can be of three types:

(1) Written communication 

(2) Oral / Verbal Communication

(3) Non-Verbal Communication

(1) Written Communication: When information, ideas, or feelings exchange in written form that is known as written communication. Written communication has its own importance and for some particular purposes it has no other alternatives.

(2) Oral / Verbal Communication: It is a process of communication through words. Verbal communication consists of words arranged in meaningful patterns. Oral communication normally takes place in a face to face situation. It may be formal or informal.

(3) Non-Verbal Communication: Communication without using words or writings known as non-verbal communication. In other words, non-verbal communication means communication through physical movements and facial expressions. Gestures, posture, eye movements, etc. are examples of non-verbal communication.

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

(a) "The term 'business environment' connotes external forces, factors and institutions that are beyond the control of the business and they affect the functioning of a business enterprise". In the light of the given statement explain the factors affecting business decisions. (See Lesson 3)

Ans: Business decisions are highly dependent on the business environment. There are various external and internal factors of business environment which are beyond the control of business and they can influence businesses to do things that they may not want to do. Also there are various institutions that make regulations which can affect business decisions.

Given below some of the important factors which can affect business decisions:

a)    Change in market demand of the products

b)   Change in market price of goods and services in which we deals in.

c)    Change in pricing power, cost advantages and market share

d)   International factors such as increase or decrease in oil prices or devaluation of domestic currency.

e)   Technological changes

f)     Regulatory changes etc.

g)    Demographic changes e.g. the increase in elderly population

(b) "It is important to earn profit for a business but it is equally important to be ethical while earning that profit. Every business organization is part of a wider social system and hence can't avoid being ethical. Read the given statement and enumerate the responsibilities of a business towards different interest groups. (See Lesson 3)

Ans: Social responsibility means the obligation of business to act in a manner, which will serve the best interests of the society. Social obligation of a business relates to the voluntary efforts on the part of businessmen to contribute to the social well-being that goes beyond the production of goods and services at a profit.

Social Responsibility towards different interest groups:

A business unit has to decide in which areas it should carry out social good. Few areas are explained below:

Responsibility towards shareholders or owners:

Ø  To provide fair return on their investment

Ø  Ensure safety of their investment

Ø  To provide regular, accurate and full information about the business.

Responsibility towards the workers

Ø  To provide opportunities for meaningful work

Ø  Create the right kind of working conditions

Ø  Respect the democratic rights of the workers and

Ø  Ensure a fair wage deal from the management.

Responsibility towards the consumer

Ø  To provide right quality and quantity of goods and services at reasonable prices

Ø  To avoid adulteration, hoarding, dishonest and misleading advertisements.

Responsibility towards the government & community

Ø  To respect the laws of the country and

Ø  To pay taxes regularly and honestly

Ø  To act according to well accepted values of the society and to protect environment.

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

(a) You are planning to start a new business venture with your friend and contemplating which form of business to choose. You have narrowed down to two forms-Sole proprietorship and Partnership firm. Which of these two forms would you choose to start your business and why? (See Lesson 5)

Ans: There are many factors which one must take into consideration while starting a new business. If anyone have to select either sole trade or partnership business, then he can take into consideration the following factors:

(i) Ease of formation: An ideal form of organisation is one which can be brought into existence with the least difficulty and expenses. Sole trade business requires no legal formalities and hence can be easily formed.

(ii) Ease of financing: Another important feature of a good form of organisation is the facility of raising the required amount of capital. More capital can be raised in partnership form of business organisation as compared to sole trade business.

(iii) Limited liability: From the point of view of risk, the businessman will naturally prefer that form of business orgnisation where his liability is limited (alike companies). Liability of a sole trader is more as compared to the partnership business.

(iv) Direct relationship between ownership and control of management: There must be direct relationship between ownership and control of management. If the control is not with the owners, the management may not show required interest in maximising profits through increase in efficiency. In case of sole trade business, there is only one owner so it can be better controlled and managed.

(v) Flexibility of operations: A good form of organisation offers the maximum flexibility and adaptability. The organisation should be such which can be changed easily if situation so demands. Flexibility in sole trade business is more as compared to partnership business.

Considering the above points, we can say that sole trade business is better to start as compared to partnership business.

(b) Explain the following types of Public Sector Enterprises. (See Lesson 7)

(1) Departmental Undertaking

(2) Public Corporations

(3) Government Companies

Ans: The public sector consists of various organisations owned and managed by the government. These organisations may either by partly or wholly owned by the central or state government. They may also be a part of the ministry or come into existence by the Special Act of Parliament.

The forms of organisation which a public enterprise may take are as follows:

a)      Departmental undertaking.

b)      Public Corporation.

c)       Government Company

a) Departmental undertaking: A departmental undertaking is a public enterprise, which is organized, financed and controlled by the government as a government department. E.g. in our country railways, post and telegraph and ordinance factories have been established as government departments. This is the oldest and most traditional form of public enterprises.

b) Public corporation: A public corporation, known as Statutory Corporation, is an autonomous corporate body set up under a special act of the Parliament or of State Assembly. The Life Insurance Corporation of India, Air India, Indian Airlines, Food Corporation of India, Oil and Natural Gas Commission and Central Warehousing Corporation are few of the prominent public corporations in India.

c) Government company: Government Company: According to The Indian Companies Act, 1956, a government company is a company in which not less than 51% of the paid up capital is held by the central or state government or both. Subsidiary of a government company is also considered as a government company.  E.g.: 1) Hindustan Machine Tools Ltd. (HMT)  2) Bharat Heavy Electricals Ltd (BHEL)  3) Steel Authority of India Ltd.

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

(a) After completing her studies your friend is looking for a job as a receptionist but she doesn't know any source of information about the job vacancies. She needs your help. Can you suggest her some prominent sources of information about job vacancies? After suggesting her the sources also help her in drafting her Bio-Data for the job of a receptionist. (See Lesson 9)

Ans: Answer any one project

(b) "Saurabh is a working professional who is willing to start his own business. He wants to start at a small level. But he doesn't have much funds to support or start his business. He approaches you to suggest him how to arrange for the funds". Prepare a detailed list of agencies providing support to small businesses or industries in India and help Saurabh in his endeavour to start his own business. (See Lesson 8)

Ans: Small businesses are defined differently by different people. For some people, small businesses are startups and also include self employed and sole proprietorships. Others would define small-businesses as companies with less than $20 million in revenue or less than 200 employees.

Small businesses are important for the Indian economy and contribute greatly to the society. The world is becoming a place dominated by big companies. They have more capital to expand their business. In such situation, it is very difficult for small businesses to survive. Small businesses have been under-valued for a long time and steps must to taken to support them.

Current government of India is focusing mainly on the development of small scale industries because it can give maximum employment. To promote small businesses or industries, the following agencies are setup:

a)    National Bank of Agriculture and rural development (NABARD): It supports small and rural industries by offering credit facilities, counseling and consultancy services and organising training programs.

b)   Rural Small Business Development (RSBDC): It provides management and technical support to small entrepreneurs in rural areas.

c)    Small Industries Development bank of India (SIDBI): It provides direct and indirect assistance to meet credit needs of small business organisations.

d)   National Commission for enterprises in the unorganized sector (NCEUS) - It helps in improving the productivity of small enterprises, to enhance the competitiveness and to provide facilities in the areas of credit technology and raw material.

e)   Rural and Women Entrepreneurship Development (RWED) - It creates a business environment to encourage initiatives of rural people. Women entrepreneurs provide training and advisory services.

f)     District industry Centers (DICs):  It provides integrated administrative framework at district level. It provides all the services and support facilities to the entrepreneurs for setting up small industries.

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