Emerging Modes of Business — Business Studies STD 11 Commerce — Question

Samarth Malhotra was born in Delhi and is a fashion designer. He runs his hi- fashion garments business from the posh Greater Kailash market of Delhi. After running the business for five years Samarth feels that he should get his business registered in a way that he can save himself from the threat of unlimited liability. But at the same time, he doesn't want anyone else to be a part of decision making or to interfere in his business.
On the basis of the given information, answer the following questions:
(a) State the form of business organisation to be formed by Samarth to get it registered.
(b) Enlist any three features of the form of business organisation stated in part (a).

Online Banking offers a higher level of convenience for managing one's finances
even from one's home. However, it continues to present challenges to the financial security and personal privacy. ABC Bank is providing e-Banking facility to its customers. ABC Bank has invested in several state-of-the-art technology initiatives and successfully implemented them. Since inception, ABC Bank has pursued outsourcing, as part of its strategy. The philosophy of the Bank has been to engage with select partner companies who are acknowledged leaders in their products or businesses in developing specific solutions for it. A group of employees of the bank are sharing the personal financial details of the customers with some unscrupulous select partner companies to back their accounts.
On the basis of the given information about ABC Bank, answer the following questions:
(a) Specify the interest group towards which ABC Bank is not fulfilling its social responsibility?
(b) What is meant by term social responsibility?
(c) Enumerate the values which the employees of bank has violated.

Discuss the formalities involved in getting an export licence.

People misinterpret business as having only economic objectives. Make the concepts clear regarding the objectives of the business.

Gupta Brothers inherited some ancestral property. They decided to form a Hindu Undivided Family Family (HUF) consisting of four male members and invested the ancestral property into the business. The family is headed by Shyam Sunder Gupta. The business took a loan of ₹10 lakh from Syndicate Bank for a term of three years. Due to poor financial position of the business, the family members were unable to repay the loan. The bank filed a suit for the recovery of loan. Shyam Sunder Gupta pleaded the court that as the entire loan was taken for the purpose of business, all members of the business were liable for the repayment of the loan. The court gave a decision and stated that all the members except Shyam Sunder Gupta, are liable for repayment of the loan only to the extent of their share of co-parcenary property of business. However, Shyam Sunder Gupta had to pay the balance amount from his personal property.
On the basis of the given information, answer the following questions:
(a) Why did the Court hold Shyam Sunder Gupta responsible for paying the business liabilities out of his personal assets?
(b) Explain any three disadvantage of a Hindu Undivided Family Business (HUF) not discussed above.

What is factoring? Discuss its pros and cons.

Explain the need for entrepreneurship development?

Robert has just completed her post graduation in Fashion Designing from a premier institute of designing. Being from a fashion industry, trends of dresses and choices are well known to him. He opened a huge business house for ladies clothing of latest fashion. He is well versed with the trend but does not possess any business experience. His target is to capture not only the national market but also the International. He participated in many fashion shows where his designs were liked by people. He received a bulk export order. But due to negligence of his employees the shipment was rejected and he suffered a huge loss.

On the basis of the given information about Robert, answer the following questions:

(a) Identify the cause of business risk by quoting the line.

(b) State causes of business risk other than identified in part (a) above.

Specify the characteristics of fixed shop retailers.

Explain the meaning of a government company. In what circumstances, is it a suitable form of public enterprise?