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

Define international business.

Which eight problems have been identified by the United Nations which cause damage to natural environment?

Classify the following into primary, secondary and tertiary industries.

1. Farming.
2. Banking.
3. Sugar Industry.
4. Warehousing.

There are three types of services: Business Services, Social Services and Personal services. Which of the services in your opinion are of utmost importance and why?

To promote a company, what series of steps are required to be conducted?

From social welfare point of view, which type of organization is most desirable from employment generation point of view?

ITC Ltd. is a Fast Moving Consumer Goods Company (FMCG) the company was founded in year 1790 by Henry Overton Wills. It's current headquarter is in Kolkata. Its currently headed by Y.C. Deveshwar (Chairman) and three executive directors viz., Nakul Anand Dhobale and K. Grant. It is the largest producer of Cigarettes in India with maximum brands of all range. It provides employment to near about 27,000 people. Apart from cigarettes the company is diversified into many other businesses also like hotels, papers, packaged foods, apparels, etc. In the list of world's most reputable companies, ITC positions at number 95. It is the only Indian FMCG company on Forbes Global 2000 ranking. The company is fulfilling its social responsibility by contributing to various programmes like ITC e-Choupal ecosystem, skill camp, vocational training, health camp and sanitation. The group has an account in State Bank of India for its business dealings.

On the basis of the given information about ITC Ltd., answer the following questions:

(a) The working of a successful private sector enterprise is highlighted above. Name and explain the other sector which co-exists with it in the mixed economy.

(b) Identify any two values which according to you can be associated with ITC Ltd.

HUF business suffers from the disadvantage of centralisation of power. Do you agree? Give reasons in support of your answer.

“Risk is an essential element of a business.” Do you agree? If yes, elaborate the statement with proper reason.

Ravi, Pradeep, Satyender and Dharmender are partners in a partnership firm. Ravi and Satyender take active part in the operation of business whereas Pradeep has contributed in Capital but do not take part in day to day activities of the business. Dharmender is a nominal partner. All four make partnership for a specified time period and also make written agreement to govern the partnership but they does not get the firm registered.
a. What is meant by nominal partner ?
b. Which type of partnership is there between the partners in above?
c. What is written agreement between the partners called?
d. What type of partners Pradeep and Ravi are?
e. Give two merits of getting firm registered.