Business Environment — Business Studies STD 12 Commerce — Question

Indian equity markets are going through a phase of boom. There is a huge growth potential for innovative technologies. This has resulted in lots of new ventures vying for a market share and old enterprises trying to keep up with the pace with which changes are taking place in the economy. This technological innovation has helped even smaller businesses to compete on a global scale.
Identify and explain the three factors highlighted above which affect the working capital requirements of such enterprises.

Distinguish between authority and responsibility on the basis of:

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

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.

After completing a course in travel and tourism, Karan started his own travel agency. In order to ensure smooth functioning of his business, he decided to create fourteen job positions divided into four departments on the basis of functions namely, front office department including online queries, reservations department for airways, railways and roadways, accommodation booking department, and securing payments department. In order to avoid any interdepartmental conflicts he decides to specify clearly the lines of authority and areas of responsibility for each job position.
In the context of the above case:

1. Which function of management is being described in the above lines ?
2. Identify the framework created by Karan within which all managerial and operating tasks are to be performed in his organisation.
3. Name the type of the framework as identified in part (1) of the question. Also, give any two of its advantages.

Cutie Beauty Ltd. is a beauty brand famous for its organic beauty products for men and women. The company uses organic plant extract to produce its products which are non-allergic and beneficial for every type of skin. The product is made available in different packs and sizes. The label of the product contains full information about the ingredients, batch number, date of manufacture and expiry price etc. and The company has set up its customer care cell to handle all sort of queries of its customer.
List the consumer rights taken care of by the company by quoting the lines from the passage.

A newly appointed personnel manager is of the view that training is beneficial only for the workers and not for the organisation. Do you agree with his view? Give any four reasons in support of your answer.

Explain how planning provides direction to action.

A company is manufacturing garments. The manager wants to increase the profits by purchasing new high speed machines or increasing the sale price or using waste material in manufacturing stuffed toys.
He decided that using waste material to increase the profit is the best solution for him.
(i) Identify the concept of management involved.
(ii) Mention the steps involved in the above process by quoting the lines from the question,
(iii) To complete the process of the concept identified. What further steps does the manager have to take ?

Deeksha is the general manager of a firm offering Telemarketing services. Telemarketing is a method of direct marketing in which a representative of the company solicits prospective customers to buy products or services, either over the phone or through a subsequent face to face, or Web conferencing appointment scheduled during the call. Deeksha ensures that all the call centre representatives are well versed with the local languages so that they can interact effectively with the prospective buyers. Moreover, the employees are provided training to improve upon their troubleshooting skills so that they do not spend too much time with every customer. By acquiring these skills the callers are able to add value to their message and also shorten the call durations, leading to increased customer satisfaction and profitability of the business.
As a part of the firm’s policy, Deeksha encourages women, persons from backward communities and persons with special abilities to assume responsible positions in the organisation.
In context of the above case :

1. Identify the type of communication barriers that Deeksha is able to overcome by ensuring that all the call centre representatives are well versed with the local languages.
2. What are benefits of training employees to an organisation?
3. List any two values that the firm wants to communicate to the society.

Briefly explain how planning helps coordination.