Consumer Protection — Business Studies STD 12 Commerce — Question

Identify the nature of management when it is practised as personal application of existing knowledge to achieve desired results.

State one limitation of sales promotion.

Give any one advantage of external sources of recruitment.

What is consumer protection?

Super Fine Rice Ltd. has the largest share of 55% in the market. The company’s policy is to sell only for cash. In 2015, for the first time company’s number one position in the industry has been threatened because other companies started selling rice on credit* also. But the managers of Super Fine Rice Ltd. continued to rely on it’s previously tried and tested successful plans which didn”t work because the environment is not static. This led to decline in sales of Super Fine Rice Ltd. The above situation is indicating two limitations of planning which led to decline in it sales. Identify these limitations.

Business Environment includes both 'specific and general forces'. List any four general forces.

It is interesting to know that the menu items of the multinational food chains are customised to suit the general palates of the local people in the region. When McDonald’s started its business in India in the year 1996, the company went through a complete localisation strategy. McDonald’s changed its product menu to accommodate the vegetable burger given the large vegetarian population. It also altered its store design and even reduced the product price by close to fifteen per cent. Also , the “McAloo Tikki burger” is not available anywhere but in the Indian outlets of McDonalds.
Identify the relevant feature of business environment being discussed above.

What is meant by 'caveat emptor'?

What does communication that take place independently at the formal line of authority known as?

Match the following networks of informal communication network with the feature that best describes them.

S. No.	Colum I	S. No.	Colum II
1.	Single strand network	(i)	One person simultaneously communicates with all
2.	Gossip network	(ii)	Trust
3.	Probability network	(iii)	Sequential communication
4.	Cluster network	(iv)	Random