Forms of Business Organisation — Business Studies STD 11 Commerce — Question

For more than 150 years, the Department of Posts (DOP) has played a crucial role in the country's social economic development. It touches the lives of Indian citizens in many ways: delivering mails, accepting deposits under Small Savings Schemes, providing life insurance cover under Postal Life Insurance (PLI) and providing retail services like bill collection, sale of forms, etc. The Department of Posts also acts as an agent for Government of India in discharging other services for citizens such as Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) wage disbursement and old age pension payments. With 1,55,015 Post Offices, the Department of Posts has the most widely distributed postal network in the world. The funding of Department of Posts come directly from the government Treasury and is an annual appropriation from the budget of the government. The revenue earned by these is also paid into the treasury.

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

(a) How will you classify the Department of Posts, as a form of public sector enterprise?

(b) State any three features of form of public sector enterprise identified in part (a).

What are the ethical concerns involved in outsourcing?

In particular type of a undertaking, there is a relationship between two or more parties, a new jointly-owned entity is not created. There is just an agreement between the parties to work together. The enterprises do not share ownership of the business but exercise some elements of control in the relationship. In another type of undertaking a separate business entity, jointly owned by two or more parties, is formed in accordance with the agreement of the parties. The key operative factor in such case is joint ownership by two or more parties.

On the basis of the aforesaid information, answer the following questions:

(a) How will you classify the above stated undertaking as a form of special arrangement?

(b) Differentiate between the forms of undertaking identified in part (a).

Classify internal and external sources on the basis of time.

Aarti was born and brought up in Mumbai. After completing her higher studies, she started working as an assistant architect in a leading company. After a few years of that now she wants to set up her own consultancy and undertake independent projects. She discusses her plans with her father.
Her father suggests that she should carry on with the job because starting independently will mean becoming a sole proprietor and that would bring along problems of unlimited liability. But Aarti was not convinced to stay in the job.
Then he suggested that the second option for her could be to form a partnership or a Pvt. Ltd. Company, with a friend. But Aarti did not like this idea either, as she did not want any form of interference from anyone. Aarti approached a consultant and discussed her concerns with him. The consultant offered her a solution and Aarti was happy with that idea.
On the basis of the given information, answer the following questions:
(a) Which form of business organisation would have been suggested by the consultant?
(b) Explain the benefits of this form over sole proprietorship and private company

What do you understand by Intellectual Property Rights? Explain.

Geeta Pustak Bhandar sells only religious books. But all kinds of books are available at 'Kapoor Pustak Bhandar'. Both of them are examples of Small Scale Retail Trade. Even then the nature of their trades is different from each other. Identify the nature of the difference between the trades of both of them and explain it.

Define Joint Venture and explain its major benefits.

Differentiate between goods and services.

What is business risk? What is its nature?