Topics
Principles of Management
- Concept of Management Principles
- Nature of Management Principles
- Significance of Management Principles
- Theories of Management
- Henry Fayol's Administrative Theory of Management
- Taylor's Scientific Management Theory
- Emerging Trends in Management
Functions of Management
- Functions of Management
- Planning
- Organising
- Staffing
- Directing
- Co-ordinating
- Controlling
- Comparative Study of Management Functions
Entrepreneurship Development
- Concept of Entrepreneur
- Entrepreneurship Development
- Process of Entrepreneurship Development
- Recent Initiatives in Entrepreneurship Development
- Start up India
- Stand-up India
- Agro Tourism (Rural Tourism)
- Women Entrepreneurship Platform (WEP)
- Concept of Intrapreneurs
- Employees' Contribution to Innovation
Business Services
- Concept of Service
- Business Services
- Types of Business Services
- Banking
- Banking > Functions of Commercial Bank
- Types of Insurance
- Insurance
- Transport
- Modes of Transport
- Types of Transport > Roadways
- Types of Transport > Railways
- Air Transport
- Communication
- Warehousing
- Types of Communication
- Postal Service
- Modern Means of Communication
- Comparative Study of Business Services
- Comparative Study of Business Services
Emerging Modes of Business
- Concept of E-business
- Online Transactions
- Buying and Selling Process
- Concept of Outsourcing
- Forms of Outsourcing
- Business Process Outsourcing (BPO)
- Knowledge Process Outsourcing (KPO)
- Legal Process Outsourcing (LPO)
- Comparative Study of E-Business
Social Responsibilities of Business
- Concept of Social Responsibility
- Responsibilities Towards Different Interest Groups
- Social Responsibility Towards Protection of Environment
- Business Ethics
- Corporate Social Responsibility
Consumer Protection
Marketing
- Concept of Marketing
- Concept of Market
- Types of Market
- Importance of Marketing
- Functions of Marketing
- Concept of Marketing Mix
Estimated time: 14 minutes
CBSE: Class 12
Introduction
- There are six consumer rights under Consumer Protection Act 2019.
- They are: Right to Safety, Right to be Informed, Right to be Assured, Right to be Heard, Right to Seek Redressal, Right to Consumer Education.
CBSE: Class 12
Consumer Rights
Right to Safety
- Protection from goods/services that can harm life, health or property.
- Use ISI marked electrical appliances for safe quality.
Right to be Informed
- Know full details before buying: ingredients, date, price, quantity, use.
- Law requires this information on package and label.
Right to be Assured
- Freedom to choose from many products at competitive prices.
- Marketers must offer variety in quality, brand, price and size.
Right to be Heard
- Right to complain if not satisfied with a good or service.
- Firms’ grievance cells and consumer organisations help in redressal.
Right to Seek Redressal
- Get relief against unfair or restrictive trade practices, or exploitation.
- Relief includes replacement, repair or compensation for loss/injury.
Right to Consumer Education
- Right to learn about consumer rights throughout life.
- Consumer organisations and some businesses educate consumers.
CBSE: Class 12
Key Terms
- Complaint: Written allegation to get relief (e.g. defect, deficiency, overcharge, unsafe goods/services).
- Complainant: Consumer/association/government/authority/legal heir/representative (incl. for minor).
- Spurious Goods: Goods falsely claimed as genuine.
- Unfair Trade Practice: Promoting sale by falsely representing quality, standard, quantity etc.
- Restrictive Trade Practice: Manipulates price or supply; puts unjustified cost on consumer.
- Defect: Fault/shortcoming in goods or product.
- Deficiency: Fault/shortcoming in service, including negligence or hiding information.
- Injury: Harm to body, mind or property, caused illegally.
- Product: Article/substance/raw material (gas/liquid/solid) with value, deliverable; excludes human tissues, blood, blood products, organs.
- Product Seller: Business person who imports/sells/distributes/leases/installs/repairs/markets etc., or service provider.
- Product Liability: Manufacturer/seller must compensate for harm from defective product or deficient service.
CBSE: Class 12
Key Points: Consumer Rights
- The Consumer Protection Act, 2019 provides six consumer rights.
- Consumer rights ensure safety, information, choice, hearing, redressal, and consumer education.
- Consumers can seek replacement, repair, or compensation against unfair trade practices.
- A complaint can be filed for defects, deficient services, overcharging, or unsafe goods/services.
- Unfair trade practices involve false claims, while restrictive trade practices manipulate price or supply.
- Defect relates to goods, whereas deficiency relates to services.
- Product liability makes manufacturers and sellers responsible for harm caused by defective products or deficient services.
