Planning — Business Studies STD 12 Commerce — Question

What is a complaint under the Consumer Protection Act, 1986?

"Money market is essentially a market for short-term funds". In the light of this statement, state any three features of money market.

Atul joins as a Regional Sales Head in the export division of a FMCG (fast moving consumer goods) company. In a departmental meeting, he asks one of this subordinates, Manik, to take charge of the company’s new office in Dubai. He allocates the work to him and grants the necessary authority. However, within a month by seeking regular feedback on the extent of work accomplished from Manik, Atul realises that Manik is not doing the work as per his expectations. So he takes away the authority delegated to him and re delegates the work to Prakrit. Due to the time wasted in this switch over, the work at the Dubai office suffers tremendously and the company is not able to meet its desired goals.
In context of the above case :

1. Why is Manik supposed to give regular feedback about work to Atul ?
2. Can the authority granted to a subordinate be taken back and re-delegated to another person ?
3. Can Manik be held responsible for not meeting the work related expectations of Atul? Give a suitable reason in support of your answer.
4. Differentiate between authority, responsibility and accountability on the basis of origin and flow.

Define Business Environment. State any three of its features.

ABC Ltd. is a renowned company in Kirti Nagar market of Delhi for manufacturing quality furniture. From last 20 years, ABC Ltd. has occupied the No. 1 position in the market. It also specialised in imported furniture besides domestic one. It manufactures for both commercial and residential/ domestic use. For this, company has hired two managers one each for commercial department and residential department.
Mr. Sharma, who is the incharge of manufacturing furniture for commercial purpose, got the target of manufacturing 100 pieces of office tables from a corporate house. To achieve this target, Mr. Sharma has to operate on double shifts due to power failure most of the time. He is able to manufacture 100 pieces of office tables but at a higher production cost.
Whereas, Mr. Gupta, who is the incharge of manufacturing furniture for residential/ domestic use, got the target of manufacturing 50 double beds for one Ashram in Vrindavan. Mr. Gupta concentrated more on manufacturing beds with fewer resources (i.e., cutting down the cost of production) due to which he could not achieve his target.

1. From the two, which manager is effective but not efficient? Why?
2. Name the manager who is efficient but not effective. Give reason also.
3. What should be the ideal aim of managers in given situations?

In what kind of organisation is functional structure more suitable and why?

Distinguish between authority and responsibility on the basis of:

1. Direction or flow.
2. Delegation.
3. Origin.

Explain the features of marketing.

The quality of production was not as per the standards. On investigation, it was observed that most of the workers were not fully aware of proper operation of the machinery. What can be done to improve the accuracy?

Meeta purchased a book of ₹ 375 and took the cash memo. Later, she found that the original price of a book is ₹ 275, but the local bookseller had put a sticker of ₹ 375. What actions can be taken by her in this case?