Business Studies 4 Marks Question

i. Right to safety:
a. Consumers have the right to be protected against the marketing of products and services which are dangerous or hazardous to their health, life and property.
b. For example, if electrical goods, chemical products, gas cylinders, pressure cookers etc. happen to have any manufacturing defect, these may harm the consumer resulting in injury to him or his death or damage to his property.
c. If, in spite of all the precautions, injury is caused, a consumer has the right to complain against the businessman and is entitled to claim compensation.
d. Before buying, a consumer can insist on the quality and guarantee of the goods. They should ideally purchase a certified product like ISI or AGMARK.
ii. Right to Seek Redressal:
a. Every consumer has the right to seek redressal against (a) Restrictive Trade Practices, which restrict competition in the market or unfair trade practices,
b. Defective Goods,
c. Excess Charging of price,
d. Deficient Services, and
e. Supply of Hazardous Goods.
f. He can claim replacement of defective goods, removal of defect in the product, refund of money or compensation for loss/injury suffered etc.
g. The defines that the consumer has the right to seek redress against unfair and cruel practices or exploitation of the consumer.

a. The market in which the company's existing securities are being traded is the stock market. Since the company is listed with a reputed stock exchange, it can be assumed that its shares are traded in the primary or secondary market.
b. The market through which the company wants to raise its capital of 200 crore for its new business is the primary market. Specifically, the company plans to raise capital through a public issue, which means it will issue new securities to the public.
c. The two points of distinction between the markets identified in (a) and (b) are:
a. Purpose: The stock market (secondary market) is primarily meant for the trading of existing securities, whereas the primary market is used for the issuance of new securities. In the case of Hitesh Ltd., its existing securities are being traded in the stock market, but the company wants to raise new capital for its car manufacturing business through a public issue, which requires it to access the primary market.
b. Parties involved: The stock market involves the trading of securities between investors, while the primary market involves the issuance of securities by companies to investors. In the stock market, investors buy and sell existing securities from each other, whereas in the primary market, companies issue new securities to investors. In the case of Hitesh Ltd., the company will issue new securities to investors in the primary market to raise capital for its new business.

i. Employees of all levels (managerial and non-managerial) are free to give their suggestions. Besides, the one who gives the best suggestion will be awarded a prize.
Principle of initiative: According to this principle, “employees in the organisation must be given an opportunity in making and executing the plan.”
ii. “In addition, she advised ......... each other's work.”
Espirit De Corps: As per this principle, a manager should constantly make efforts to develop a team spirit among the subordinates.

Controlling is a pervasive function means that its applicability is universal , it does not matter that the organization is profit making or non profit making , the managers of all the organizations have to follow the controlling step.

(a) Controlling.
(b) The other steps of controlling are:
• Setting performance standards: Making plans in quantative or qualitative forms.
• Measurement of actual performance: Seeing the present or current performance.
• omparing actual performance with standards.
• Analysing deviations: Whether positive or negative.

Planning is concerned with the future which is uncertain, therefore, the manager is required to make certain assumptions about the future which are considered to be base material upon which plans are to be drawn. These assumptions are called planning premises. There can be no planning unless planning premises are determined. We can continue with some of the planning premises are demand for goods, cost of raw materials, government policies, the intensity of competition, factor market conditions, etc. For example, Mr. Nirmal decides to produce colour television sets. In such a case, he will have to forecast the demand for television sets while preparing various plans. The success of various plans depends on the accuracy of the forecast of demand for television sets.

(i) Programme is detailed statement about a project which are based on the objectives, policies, procedures and rules.
(ii) Programme is a single used type of plan which is made for a task once and may be changed again and again.
(iii) Programmes are a combination of goals, task assignments, steps to be taken, resources to be employed, and other elements necessary to carry out a given course of action.
(iv) The minutest details are worked out i.e., procedures, rules, budgets, within the broad policy framework.