Directing — Business Studies STD 12 Commerce — Question

What is meant by ‘Business Environment’? Explain ‘Dynamic nature’ and ‘Uncertainty’ as features of Business Environment.

One of the principles of Scientific management emphasizes to make the employee efficient, by training the workers. It further insists that each employee must be scientifically selected and work assigned to employees should suit their physical, mental and intellectual capabilities.(i) Name and explain the principle of scientific management involved in above case.(ii) Name the value emphasized by this principle.

What do you understand by insider trading?

What is meant by production concept of marketing?

Bakers Mart is catering to corporate clients. It is facing a lot of competition. What impact will this have on its working capital requirements? Also, explain three other factors which could affect its working capital requirements.

The workers of a factory are unable to work on new machines and always demand for help of supervisor. The Supervisor is overburdened with their frequent calls. Suggest the remedy.

Explain the working of a Demat Account.

Differentiate between ‘Objective’ and ‘Strategy’ as types of plans.

The employees of ‘Food Darbar,’ a restaurant, are trained through a structured programme that provides training in each area within the restaurant. The trainees learn the skills necessary for running each of the 12 workstations in the restaurant, from taking orders to the cooking area. This enables the employees to gain a broader understanding of all parts of the business and how the restaurant functions as a whole. The trainee gets fully involved in the department’s operations and also gets a chance to test her own aptitude and ability. When employees are trained by this method, the organisation finds it easier at the time of promotions, replacements or transfers.
In context of the above case :

1. Name the type of training which ‘Food Darbar’ provides to its employees.
2. Distinguish between training and development on the basis of meaning, purpose and scope.

Hemant, Guddu and Toshita were friends from college days and presently they were doing different kinds of business. They regularly meet and discuss their business ideas, and exchange notes on customer satisfaction, marketing efforts, product designing, selling techniques, social concerns, etc.
In one of such meetings, Hemant drew the attention of Guddu andToshita towards the exploitation of consumers. He told that most of the sellers were exploiting the consumers in various ways and were not paying attention towards the social, ethical and ecological aspects of marketing, whereas he was not doing so. Guddu told that they were under pressure to satisfy the consumers but stated that the consumers would not buy or not buy enough unless they were adequately convinced and motivated for the same.
Toshita stressed that a company cannot achieve its objectives without satisfying the needs of the customers. It was the duty of the businessmen to keep consumer satisfaction in mind, because business is run by the resources made available by the society. She further stated that she herself was taking into consideration the needs of the customers.
Identify the various types of thinking that guided Hemant, Guddu and Toshita in the marketing efforts of their business. Also, state one more feature each of the various types of thinking identified that is not given in the above paragraph.