All questions are compulsory. The marks allotted for each question are indicated against each question.
Write your name enrolment number, Al name, and subject on the top of the first page of the answer sheet.
1.Answer any one of the following questions in about 40-60 words:-
a)Auxiliaries to Trade are activities which are meant for assisting trade by removing various hindrances/ obstacles in trade. Analyse and explain any two types of activities providing support to the trading activities.
Answer- ransportation & Communication: Bridge the gap between producers and consumers. Trucks, ships, planes move goods, while emails, phones, internet, facilitate seamless communication, ensuring smooth transactions and informed decisions.
Banking & Finance: Provide crucial financial support. Banks offer loans, handle payments, and manage risk, easing cash flow and mitigating financial burdens for traders, allowing them to focus on growing their business.
b Name any two special services rendered by the post office for the benefit of business and explain the briefly
Answer-Bulk Mail Services: Businesses can prepaid and pre-sort large mailings, saving time and money compared to individual postage. This streamlines sending invoices, newsletters, or marketing materials.
Registered Mail with Signature Proof: Important documents get secure delivery with tracking and proof of recipient’s signature, guaranteeing accountability and protecting sensitive information.
2 Answer any one of the following questions in about 40-60 words:-
(a)Are you aware the existence and success of any organisation largely depends on the kind of management it has. State any two characteristics of principles of management.
Answer-Effective management is the lifeblood of organizations. Two key characteristics of successful principles are their universality in guiding diverse situations and their adaptability to evolve with changing contexts and trends. This ensures organizations stay relevant and thrive in the long run.
b) Can management be treated as a profession? Give reasons in support of your answer
Answer-Management shares traits of professions: specialised knowledge, training, codes of conduct. However, lack of mandatory qualifications and regulatory bodies weakens its claim. Ultimately, the impact and complexity of management roles argue for its growing professionalisation.
3. Answer any one of the following questions in about 40-60 words:-
a) Assume yourself as a Marketer and mention any two ways in which Marketing helps in making products available irrespective of time and place.
Answer-E-commerce and digital channels: I create online stores and leverage social media to reach customers anytime, anywhere. They can browse, buy, and have products delivered, defying time zones and geographical barriers.
Building brand awareness: I craft narratives that transcend physical limitations. By emphasizing a product’s core values and benefits, I make it mentally accessible even when not physically present, driving desire and anticipation for future availability.
b) Is there any difference between traditional and modern concepts of marketing? If agreed then state any two differences between them with suitable examples.
Traditional marketing: Focuses on promoting products or services, often with a one-way communication approach. Think TV commercials or billboards.
Modern marketing: Focuses on building relationships with customers and understanding their needs. It uses two-way communication through social media, email marketing, and other digital channels.
Traditional marketing: Uses broad targeting methods like demographics or geography.
Modern marketing: Uses precise targeting based on customer data and behavior, allowing for more personalised and effective campaigns.
4. Answer any one of the following questions in about 100-150 words:-
a)”Consumer protection means safeguarding the interest and rights of consumers and
protection of consumers from unscrupulous and unethical malpractices by the
business”. Identify the most common business malpractices leading to consumer exploitation
Deceptive Marketing: False claims about a product’s quality, benefits, or origin.
Adulterated Goods: Adding inferior ingredients or diluting products for profit.
Substandard Products: Selling goods that fail to meet safety or quality standards.
Hidden Costs & Fees: Unexpected charges tacked on at purchase or later.
Planned Obsolescence: Designing products to break or become outdated quickly.
Bait & Switch: Luring customers with advertised deals then switching to inferior products.
Hidden Terms & Conditions: Unfair or unclear clauses buried in contracts.
Unprofessional Conduct: Rude, dishonest, or manipulative behaviour by service providers.
Misleading Warranties: Offering deceptive guarantees or making repairs difficult.
Data Privacy Violations: Mishandling or selling customer data without consent.
b) XYZ shopkeeper sold you some pulses claiming that it was pure. Later a laboratory test
showed that these were adulterated. As a consumer what action would you take against this
wrongful act of the shopkeeper?
Answer–Gather Evidence: I would retain the receipt and any remaining pulses as evidence of the purchase. Additionally, I would obtain a copy of the laboratory test report to document the adulteration.
(i) Confront the Shopkeeper: I would approach the shopkeeper and calmly explain the situation, presenting the evidence. I would demand a full refund for the adulterated pulses, highlighting the potential health risks involved.
(ii) Consumer Forum: If the shopkeeper refuses to cooperate, I would file a complaint with the local Consumer Forum. The forum provides a platform for consumers to seek redressal for unfair trade practices. They can investigate the matter, mediate a settlement, or award compensation if necessary.
(iii) Public Awareness: To deter future malpractices, I would consider raising awareness about the incident. This could involve informing other consumers, reporting the incident to local media, or even filing a complaint with the Food Safety and Standards Authority of India (FSSAI).
5. Answer any one of the following questions in about 100-150 words.
a Your friend wants to prepare his/her Bio data to apply for a Job. Suggest him/her any four points one should mention in his/her bio-data.
Answer-Skills and Achievements: Highlight your friend’s key skills and accomplishments relevant to the desired job. Quantify achievements with numbers and specific examples to showcase their impact. Use strong action verbs to demonstrate initiative and proficiency.
Education and Qualifications: List your friend’s educational background chronologically, including degrees, diplomas, and relevant coursework. Mention any academic awards or achievements that showcase intellectual ability or relevant knowledge.
Professional Experience: Briefly outline your friend’s work experience in reverse chronological order. Include company names, job titles, and key responsibilities for each role. Focus on accomplishments and contributions that demonstrate transferable skills and growth potential.
Additional Information: Include any relevant information that wouldn’t fit in the previous categories but strengthens your friend’s candidacy. This could be volunteer work, language skills, computer proficiency, or hobbies that demonstrate valuable attributes like leadership, teamwork, or communication skills.
b Are you aware about electronic media helping job seekers? If yes, describe the role of electronic media in helping the job seekers to get the jobs of their choice.
Wider reach: Online job boards and company websites offer thousands of jobs, expanding your search beyond local limitations.
Targeted search: Filter jobs by skills, interests, and location, saving time and effort.
Faster applications: Apply online instantly, often with pre-filled forms, simplifying the process.
Company research: Learn about company culture, values, and employee experiences to make informed choices.
Professional social media: Platforms like LinkedIn connect you with professionals, recruiters, and potential employers.
ndustry groups: Online communities allow you to share expertise, build relationships, and get noticed by hiring managers.
Social media engagement: Sharing relevant content and engaging with industry discussions showcase your knowledge and passion.
Create a strong online presence: Build a professional website or portfolio to highlight your skills and achievements.
Develop your brand voice: Share insightful content on social media to establish yourself as an expert.
Connect with influencers: Engage with industry leaders to expand your network and visibility.
6. Prepare any one project out of the following projects given below
a) Anil Singh now plans to open a modern equipped warehouse to store vegetables and fruits, milk and other requirements. He does not know the amount of funds he requires for the same. Explaining him the factors affecting his working capital and
fixed capital requirement.
Answer-Anil’s vision for a modern warehouse storing various items like vegetables, fruits, milk, and other necessities requires careful consideration of both fixed capital and working capital needs. These two types of capital play crucial roles in ensuring the smooth operation and success of his venture.
(i) Land and Building: The initial investment in purchasing or leasing land and constructing the warehouse itself will be a major fixed cost. Factors like location, size, and building materials will impact the required amount.
(ii) Equipment and Machinery: Anil’s modern warehouse will likely require refrigeration units, temperature control systems, storage racks, conveyors, and other equipment. The level of automation and specialization will dictate the cost.
(iii) Vehicles: Depending on his intended operations, Anil might need trucks or vans for transportation, adding to the fixed capital outlay.
(i) Inventory: He will need to invest in a stock of vegetables, fruits, milk, and other items. The type and volume of goods stored will determine the working capital needed.
(ii) Accounts Receivable: There will be a time lag between selling goods and receiving payment from customers. This creates a temporary need for working capital to cover operational expenses during that period.
(iii) Accounts Payable: Anil will owe money to suppliers for purchased goods and utilities. Managing payment terms and optimising purchasing cycles can help minimise working capital requirements.
(iv) Operational Expenses: Daily running costs like salaries, utilities, insurance, and maintenance also impact working capital needs. Efficient management and cost control are crucial in this area.
Factors Affecting Capital Needs:
(i) Scale of Operation: A larger warehouse storing a wider variety of items will naturally require more capital than a smaller operation with a limited focus.
(ii) Demand Fluctuations: Seasonal variations in demand for specific items will impact inventory and working capital needs.
(iii) Payment Terms: Negotiated payment terms with suppliers and customers can significantly affect working capital requirements.
(iv) Technology Adoption: Automated systems and inventory management software can optimise operations and potentially reduce capital needs.
To help Anil estimate his capital requirements, encourage him to:
Develop a detailed business plan: This should outline the size, scope, and projected operations of the warehouse, providing a basis for cost calculations.
Seek professional advice: Consulting with financial experts or experienced warehouse operators can provide valuable insights and guidance on capital needs.
Explore financing options: Depending on his budget and risk tolerance, Anil can consider various financing options like loans, grants, or partnerships to secure the necessary capital.
bYou have gone through the various forms of business organisations and decided to start a business. Which form of business organisation will you choose & why? Express your views with main points.
My specific business idea would heavily influence the best form of organisation.
If it involved personal expertise and limited capital, a sole proprietorship might be suitable.
For larger ventures with shared decision-making, a partnership could be ideal.
If seeking external funding and scalability, a limited liability company (LLC) or corporation might be preferred.
Liability and Risk:
As a large language model, I prioritize avoiding personal liability.
Therefore, an LLC or corporation with limited liability protection for personal assets would be attractive.
Management and Control:
If I value independence and quick decision-making, a sole proprietorship or single-member LLC would offer complete control.
However, for complex operations or shared vision, a partnership or multi-member LLC with defined roles and responsibilities could be beneficial.
Understanding the tax implications of each form is crucial.
Sole proprietorships generally report business income on personal tax returns, while corporations have separate tax structures.
Consulting with a tax professional would be essential for informed decision-making.
Regulatory requirements can vary depending on the chosen form.
Ease of registration and ongoing administrative obligations should also be considered.