Controlling — Business Studies STD 12 Commerce — Question

After completing his MBA from the USA, Mr. Ajay came to India to start a new business under the banner Ecom Creations Ltd. He launched a new product in e-learning for senior secondary school students in the commerce stream which already had an established market in the UK and the USA but not in India. His business started flourishing in India. As a result, more Indian companies entered into the market with other subjects also.
Identify and quote the lines from the above paragraph which highlight the significance of understanding business environment.

Suppose you are the marketing vice president of an insurance company, planning to design a new mediclaim policy for senior citizens. What information would you like to collect to perform this task and how will you collect such information? Discuss.

Nishant, the director of a garment company, is planning to manufacture bags for the utilisation of waste material from one of his garment units. He has decided that this manufacturing unit will be set-up in a rural area of Orissa where people have very few job opportunities and labour is available at very low rates. He also thought of giving equal opportunities to men and women.
For this, he wanted four different heads for sales, account, purchase and production. He gave an advertisement and shortlists ten candidates per post after conducting different selection tests.

• Identify and state the next three steps for choosing the best candidate out of the candidates short-listed.
• Also identify two values which Nishant wants to communicate to the society by setting up this manufacturing unit.

After completing her studies in product design, Sarita wishes to start her own business to design products to cater to the mobility and communication requirements of persons with special needs. She told her friend that she wanted to focus on supplying high-quality products at affordable prices. The Unique Selling Proposition (U.S.P) of the products would be sensitivity to the challenges and needs of the differently abled people. She wants to employ only differently abled persons in her factory and sales offices across the country. This decision of Sarita provides the base for interpreting her strategy. This also defines the broad parameters within which the company may recruit the persons. Sarita has also to decide about the exact manner and the chronological order of how the selection of the differently abled applicants will be done. In the above lines, Sarita is discussing about one of the functions of management. This function has several types. Identify and explain the types Sarita is discussing in the above lines.

Suhasini, a home science graduate from a reputed college, has recently done a cookery course. She wished to start her own venture with a goal to provide ‘health food’ at reasonable prices. She discussed her idea with her teacher (mentor) who encouraged her. After analysing various options for starting her business venture, they short listed the option to sell ready made and ‘ready to make’ vegetable shakes and sattu milk shakes. Then, they weighed the pros and cons of both the short listed options.

1. Name the function of management being discussed above and give any one of its characteristics.
2. Also briefly discuss any three limitations of the function discussed in the case.

Define Capital Market. State the two parts of capital market.

It is the process, by which government controls over the industry is being loosened. Identify the term and discuss it briefly.

What are the essentials of a good package?

''Controlling is looking back''. Explain.

Which principle of management envisages that each group of activities having the same objectives must have one head and one plan? Explain the principle with a suitable example.