Consumer Protection — Business Studies STD 12 Commerce — Question

State any three factors that influence the effectiveness of a leader.

Fayol points out the danger and costs of unnecessary labour turnover in one of his 'principles'. Name and explain the principle.

Explain briefly the Investment Decisions.

After completing a diploma course in Wedding Planning Sunidhi plans to start her own business under the name 'Heart Beat.' She plans to hire a team of experts to give her clients a unique and unforgettable wedding experience keeping in mind their preferences and budget. Since childhood she has been admiring her grand father's financial skills, so she decides to visit him in Mewar to seek his guidance and blessings. Her grandfather tells her that the success of business depends on how well finance is invested in assets and operations and how timely and cheaply the finances are arranged, from outside or from within the business. He warns her that she should always invest time in identifying different available sources of finance and comparing them in terms of their costs and associated risks. Similarly, the finance needs to be invested in a manner that the returns from the investment exceed the cost at which procurement has taken place.
In the context of the above case:
a. Identify and explain the financial concept being discussed above which has a direct bearing on the financial health of a business.
b. Name any two financial statements which reflect the financial health of a business.
c. Briefly outline the key objective of the concept as identified in part (a) of the question.

Is there any difference in planning, organising, staffing, directing and controlling of various organisations such as a school, a club, a restaurant and a steel plant?
To which characteristic of management is this case related?

Rahul Bajaj purchased a car for ₹ 18 lakh from an Automobile Company. Later on, he found defects in its engine. Suggest to him the appropriate authority, where he could file a complaint under Consumer Protection Act.

Kartik joins a garment factory as a plant supervisor in Lucknow. He observes that the output of some workers is very low as compared to the standards set for their performance. On analyzing the reasons for the same, he finds out that a lot of time of the workers is wasted in getting the requisite materials issued from the store. Whereas on asking, the store keeper complains that there is no harmony in the working of the production department as a whole. Everyday the workers approach him at the last minute to procure different kinds of threads, laces, mirrors, buttons etc. If it is not available in the store then he has to place an order with the purchase officer. As a result, a lot of time of the workers is wasted. So, in order to integrate the various production activities, henceforth, Kartik ensures,that the store keeper is informed well three days in advance about the requisite material. Consequently, the store keeper is able to keep the materials ready for the workers every morning in accordance with their requirements.
In context of the above case :

1. Identify and explain the quality of management that Kartik has introduced in the working of the production department as a corrective measure to control the output of the workers.
2. State briefly any two points highlighting the importance of quality of management identified in part (a).

Explain objective' and 'policy' as types of plan using suitable examples.

An organisation is following the principle of scalar chain and principle of equity. What are the positive effects of these principles?

In which type of plans the sequence of activities to complete a job is determined?