Financial Management — Business Studies STD 12 Commerce — Question

Post demonitisation in a further push to cashless economy, the Central cabinet has recently approved the ordinance for paying wages via electronic means. Accordingly, the government approved to Amend Section 6 of the Payment Of Wages Act 1936, to allow employers of certain industries to make payment through the electronic mode and cheques . The new ordinance will be applicable to the public sector. Identify the various dimensions of business environment which relate to the above mentioned case.

Technological environment includes new approaches in producing, selling goods and services, new procedures as well as new equipment. Mention any one example to support it.

Vivo Mobile aims to produce 20,000 mobiles in 2017 . To achieve this target production department strives for timely production, finance department agreed for timely release of funds, purchase agreed for timely supply of raw materials and sales department agreed to take all possible steps to sell them. Due to combined efforts of all the departments, company can achieve its target.(i) Which characteristic of management is highlighted in above para?(ii) Which importance of management is highlighted here?(iii) Which other aspect of management helps the Vivo Mobile Ltd. to achieve its objectives.

Mr Rajiv wants to buy LCD T.V. for his family. Now he has come to Jagota Electronics, Model Town, after coming to shop he gets confused. Write the name of promotion tool which has brought him to the shop and promotion tool needed now. Also write the four points of features of latter tool.

India’s retail sector has been undergoing structural changes for the last two decades. On one hand, the ‘mall culture’ has gradually become a way of life, especially in the metros and mini¬metros. On the other hand, there is accelerated growth in e-business as customers also prefer to buy products and services via the Internet, telephone and television. However, operating in either of the segments is marked by the presence of strong competitors.
Identify the components of specific forces and general forces being discussed in the above paragraph.

What is meant by “Standards in the process of controlling?

Name the levels of management engaged in:

1. Overseeing the activities of the workers.
2. Taking key decisions.

Which feature of business environment is indicated when it is stated that business environment is a phenomenon that is relatively easier to understand in parts but difficult to grasp in its totality?

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.

Define motivator.