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Business Studies 66/1/1 2018-2019 CBSE (Arts) Class 12 Question Paper Solution

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Business Studies [66/1/1]
Marks: 80Academic Year: 2018-2019
Date & Time: 8th March 2019, 12:30 pm
Duration: 2h30m
  • Section – A: contains questions 1 to 8 carrying one mark each. Answers to these questions may be given in one word or a sentence.
  • Section – B: contains questions 9 to 13 carrying three marks each, answers to these questions may be in 50 to 75 words.
  • Section – C: contains questions 14 to 19 carrying four marks each. Answers to these questions may be in about 120 words.
  • Section – D: contains questions 20 to 22 carrying five marks each. Answers to these questions may be in about 150 words.
  • Section – E: contains questions 23 to 25 carrying six marks each. Answers to these questions may be in about 200 words.

SECTION - A
[1]1
[1]1.1

Define 'Workforce Analysis'.

Concept: Concept of Organising
Chapter: [1.06] Organising
OR
[1]1.2

Define Selection'.

Concept: Staffing - Selection Process
Chapter: [1.02] Staffing
[1]2

Answer the following question.
Appliances India Ltd. is engaged in the manufacturing and distribution of home appliances since 1987. It has a good name in the market as the company is producing good quality appliances. It has separate departments for manufacturing, finance, sales maintenance services, and technical services to achieve specialization.

Since the areas of operations of the company have increased and customers have become more demanding, the company decided to modify the existing principle of management to meet the changing requirements of the environment.

State the general principle of management which the company wants to modify to meet the changing requirements.

Concept: Concept of Principles of Management
Chapter: [1.01] Principles of Management
[1]3

Answer the following question.
How does Financial Market facilitate the 'Price Discovery' of financial assets?

Concept: Concept of Financial Markets
Chapter: [2.02] Financial Markets
[1]4

Answer the following question.
Biru Nandan, Chairman of Lalit group of companies founded 'Biru University' for undergraduate and postgraduate courses in diverse disciplines. The Information Technology department of the 'Lalit Power Ltd., had few vacancies related to Cyber Security. The Human Resource Department of the Company decided to recruit fresh engineering graduates from 'Biru University' for the same. Identify the type of source of recruitment.

Concept: Staffing - Recruitment Process
Chapter: [1.02] Staffing
[1]5

Answer the following question.
Varsha Jain after completing her fashion designing course form the Indian Institute of Fashion Technology planned to enter into designer clothing venture. She had to address issues like her target customers, the channel of distribution to be used, pricing policy, etc. identify the type of plan that Varsha Jain needs to develop to provide direction and scope to her organization in the long run.

Concept: Types of Plans
Chapter: [1.05] Planning
[1]6
[1]6.1

Answer the following question.
State any two 'Developmental Functions' of Securities and Exchange Board of India.

Concept: Securities and Exchange Board of India (SEBI)
Chapter: [2.02] Financial Markets
OR
[1]6.2

Answer the following question.
What is meant by the 'Allocative Function' of Financial Markets?

Concept: Concept of Financial Markets
Chapter: [2.02] Financial Markets
[1]7

Answer the following question.
Beena has been using 'Klean', a famous detergent available in the market. On watching numerous advertisements in the television, she decided to try a new brand of detergent. When she went to the near-by store to purchase the same, she saw detergents of other producers making similar claims of whiteness and stain removing abilities. Hence she could not make up her mind as to which detergent to purchase.

Name the objection of advertising being discussed in this case.

Concept: Objections Against Advertising
Chapter: [2.03] Marketing Management
[1]8
[1]8.1

Answer the following question.
Give the meaning of 'Physical Distribution' as an element of the Marketing Mix.

Concept: Concept of Physical Distribution
Chapter: [2.03] Marketing Management
OR
[1]8.2

Answer the following question.
What is meant by 'Marketing Management'?

Concept: Concept of Marketing Management
Chapter: [2.03] Marketing Management
SECTION - B
[3]9
[2]9.1

Answer the following question.
JTM Ltd. launched 'Buddy line', an exercise book and comprehensive stationery brand name comprising of ball pens, gel pens, and geometry boxes after identifying the target market and understanding the needs and wants of the consumers of that market. All their products were of good quality and eco-friendly but expensive. They wanted to distinguish their products from that of their competitors. They spent a lot of effort, time, and money in creating the brand name, as they knew that without a brand name, they can only create awareness for the generic products and can never be sure of the sale of their products. The effort paid off and the demand for the products started growing. The customers liked the brand and became habitual to it. They did not mind paying a higher price. Over a period of time, it became a status symbol to buy the 'Buddy line' brand because of its quality. The consumers felt pride in using them.

Identify the marketing management philosophy followed by JTM Ltd.

Concept: Marketing Management Philosophies
Chapter: [2.03] Marketing Management
[1]9.2

Answer the following question.
JTM Ltd. launched 'Buddy line', an exercise book and comprehensive stationery brand name comprising of ball pens, gel pens, and geometry boxes after identifying the target market and understanding the needs and wants of the consumers of that market. All their products were of good quality and eco-friendly but expensive. They wanted to distinguish their products from that of their competitors. They spent a lot of effort, time, and money in creating the brand name, as they knew that without a brand name, they can only create awareness for the generic products and can never be sure of the sale of their products. The effort paid off and the demand for the products started growing. The customers liked the brand and became habitual to it. They did not mind paying a higher price. Over a period of time, it became a status symbol to buy the 'Buddy line' brand because of its quality. The consumers felt pride in using them.

Explain the advantages of branding to the marketeers highlighted in the above case.

Concept: Product - Branding
Chapter: [2.03] Marketing Management
[3]10

Answer the following question.
Mita has a successful ice cream business at Bikaner, namely "Smart flavours' ice creams are utterly delicious. She makes ice creams from fresh milk and the same are available in a wide range of flavours and packs. She sets viable business objectives and works with the same in mind in order to ensure that the customers will come back for purchasing.
Having the first-mover advantage, her business was doing well. To earn higher profits, she started cutting costs. This would sometimes lead to delay in delivery and the ice cream was not reaching the market in time. Over a period of time, the demand for her ice cream declined and because of it, the competitors entered the market. She lost some of her market share to competitors.
At the beginning of the summer season, she got back to backorder for the supply of 4,000 ice cream packs of different flavors for special occasions. To ensure that the task was completed and orders delivered in time she hired additional workers. She was, thus able to produce and deliver the ice cream packs but at a high production cost. While completing activities and finishing the given task for achieving goals, Mita realized that she was ignoring one of the important aspects of management.
Identify the aspects of management that has been ignored by Mita. Also, explain the same with the help of an example.

Concept: Concept of Management
Chapter: [1.04] Nature and Significance of Management
[3]11

Answer the following question.
State 'Job Enrichment' and 'Employee Participation' as non-financial incentives. How do they motivate employees?

Concept: Motivation - Financial and Non Financial Incentives
Chapter: [1.03] Directing
[3]12
[3]12.1

Answer the following question.
Give the meaning of Financial Management.

Concept: Concept of Financial Management
Chapter: [2.01] Financial Management
OR
[3]12.2

Answer the following question.
State any three points of importance of financial planning.

Concept: Importance of Financial Planning
Chapter: [2.01] Financial Management
[3]13
[3]13.1

Answer the following question.
'Science is a systematized body of knowledge that explains certain general truths or the operation of general laws.' In light of this statement, describe management a science.

Concept: Management as Science, Art and Profession
Chapter: [1.04] Nature and Significance of Management
OR
[3]13.2

Answer the following question.
Management is a complex activity that has three main dimensions. Explain these dimensions.

Concept: Concept of Management
Chapter: [1.04] Nature and Significance of Management
SECTION-C
[4]14

Answer the following question.
Mahinder Agro Ltd. started a new venture for the distribution of harmful and chemical fertilizers free vegetables. They conducted a survey to find out consumer preferences for such vegetables. They found that most of the consumers were concerned about the harmful chemicals being used in growing the vegetables. They found that 90% of the households were searching for its alternatives. The company contacted a group of agriculture experts to lay down the procedure for growing the vegetables by the farmers. They decided to train the farmers in new technology to grow chemical-free vegetables according to new innovative methods. The experts also suggested soil management techniques through which farmers would be able to create an abundant and lasting harvest.

Identify and explain the two dimensions of the business environment highlighted in the above para.

Concept: Dimensions of Business Environment - Macro
Chapter: [1.08] Management and Business Environment
[4]15

Answer the following question.
Mega Ltd. holds an Annual Management Programme every year in the month of March in which the top managerial personnel formulates plans for the next year by analyzing and predicting the future to meet future events effectively. As they are responsible for providing direction to the organization, facts are thoroughly checked using scientific calculations. Detailed plans are prepared after discussion with professional experts. Preliminary investigations are also undertaken to find out the viability of the plan. Since it is an intellectual activity requiring intelligent imagination and sound judgment so it is mainly done by the top management. Usually, rest of the members just implement the plans. Middle-level managers are neither allowed to deviate from the plans nor are they permitted to act on their own. The top management ensures that the expenses incurred in formulating the plans justify the benefits derived from them.

State any two limitations and any two features of planning discussed above.

Concept: Concept of Planning
Chapter: [1.05] Planning
[4]16

Answer the following question.
Vinber Ltd. set up a manufacturing unit at Bhiwadi in Himachal Pradesh to manufacture electric geysers and supply them to dealers all over the country. Their production target was 500 geysers per week. It was decided by the management that variation in production up to 10 units would be acceptable. At the end of the first week, the production was 450 geysers. The next week, production increased to 470 geysers. A week later, production was 460 geysers. On investigation, it was found that fluctuation in production was due to the irregular supply of electricity.

(a) The above para discusses some of the steps in the process of one of the functions of management. Explain these steps.
(b) Also, state the step(s) that have not been discussed in the above para.

Concept: Management Functions
Chapter: [1.04] Nature and Significance of Management
[4]17
[4]17.1

Answer the following question.
Organising involves a series of steps in order to achieve the desired goals

Concept: Steps in the Process of Organising
Chapter: [1.06] Organising
OR
[4]17.2

Answer the following question.
Explain any four points of importance of 'Organising'.

Concept: Concept of Organising
Chapter: [1.06] Organising
[4]18

Answer the following question.
Stock exchange acts as a regulator of the securities market. It creates a continuous market where the securities are bought and sold. It gives investors the chance to disinvest and reinvest. Through this process of disinvestment and reinvestment, savings get channelized into their most productive investment avenues. To ensure that the investing public gets a safe and fair deal in the market, the membership of the stock exchange is well regulated and its dealings are well defined according to the existing legal framework. It also ensures a wider share of ownership by regulating new issues, better trading practices, and taking effective steps in educating the public about investments.

Various functions performed by the Stock Exchange are discussed in the above para. By quoting lines from above para, state any four functions of the stock exchange.

Concept: Stock Exchange
Chapter: [2.02] Financial Markets
[4]19
[4]19.1

Explain any four points of difference between 'Marketing' and 'Selling'.

Concept: Concept of Marketing
Chapter: [2.03] Marketing Management
OR
[4]19.2

Explain the following functions of marketing:
Product designing and development

Concept: Marketing Functions
Chapter: [2.03] Marketing Management

Explain the following functions of marketing:
Standardization and Grading

Concept: Marketing Functions
Chapter: [2.03] Marketing Management
SECTION - D
[5]20
[5]20.1

Answer the following question.
Explain any four points regarding the significance of the principles of management.

Concept: Significance of Principles of Management
Chapter: [1.01] Principles of Management
[5]20.2
OR
[2]20.2.1

Explain the following technique of Scientific Management :
Fatigue Study 

Concept: Standardisation and Simplification of Work
Chapter: [1.01] Principles of Management
[3]20.2.2

Explain the following technique of scientific management:
Differential piece wage system

Concept: Techniques of Taylor’s Scientific Management
Chapter: [1.01] Principles of Management
[5]21

Answer the following question.
Voltage fluctuations have been common and quite high in India. They harm our electrical appliances like televisions, refrigerators, and air conditioners, often leaving them in a permanently damaged condition. N-Guard Company decided to manufacture stabilizers for North India where the voltage fluctuation ranges from 220 V to 230 V. Once the demand for North India was taken care of, they decided to launch stabilizers of varying voltages from 90 V – 260 V for meeting the requirements of voltage fluctuations in other regions of India also. Three engineers were appointed for South, West and East regions of India, as the voltage was different in all the three regions.

Though all the engineers were appointed to manufacture stabilizers but the product differed from region to region.

(a) Identify the organisational structure of the N-Guard Company.

(b) State any two advantages and two limitations of the structure identified in the above para.

Concept: Structure of Organisation
Chapter: [1.06] Organising
[5]22

Answer the following question.
Nisha Sethi was working as a Human Resource Manager in a famous consultancy firm, KLI Global Services. Her job included preparing job descriptions, recruitment, developing compensation and incentive plans, and facilitating employee learning. They had entered into alliances with institutes to ensure the continuous learning of their employees. With the jobs becoming more and more complex, KLI Global Services invested a large amount of money in making the employees learn the skills necessary to complete the jobs.
State by giving any five points, how this investment is likely to benefit the organisation?

Concept: Importance of Training and Development
Chapter: [1.02] Staffing
SECTION - E
[6]23
[6]23.1

Answer the following question.
'Determining the relative proportion of various types of funds depends upon various factors.' Explain any six such factors.

Concept: Concept of Capital Structure
Chapter: [2.01] Financial Management
OR
[6]23.2

Answer the following question.
Explain any six factors affecting the decision that determines the amount of profit earned to be distributed and to be retained in the business.

Concept: Financial Decisions - Financing and Dividend
Chapter: [2.01] Financial Management
[6]24

Answer the following question.
'VOICE' is an important consumer organization. It organized workshops in the months of December in Delhi/NCR for consumers. The theme was 'Organic Food – From Farm to Plate', to spread awareness on the importance of organic farming and to encourage consumers to switch from conventional food, that contains chemicals and pesticides to organic food. Expert speakers from farmers' community explained the harmful effects of usage of pesticides in farming and the importance of organic food.
People were informed that the organization regularly tests samples to detect adulteration like the presence of heavy metals or pesticides. The results of the tests are published in their monthly magazine 'Consumer Voice' to make people aware of the quality of different products. It also provides aid and legal advice to the consumers in seeking a remedy.
State the functions performed by the Consumer Voice for the protection and promotion of consumer interest by quoting lines from the above para.

Concept: Concept of Consumer Protection
Chapter: [2.04] Consumer Protection
[6]25

Answer the following question.
Pratap Singh is the Chief Executive Officer of Nissar Enterprises. It is an automobile parts manufacturing company. The enterprise has a functional structure, in which jobs of similar nature have been grouped together as Production, Finance, Marketing, and Human Resource. Nissar Enterprises has its manufacturing unit at Manesar. The factory has been plagued with many problems for a long time which was in the knowledge of the Production Manager, Varun Sharma. The workers had internal differences. Time and again, there were misunderstandings between the management and the workers. Keeping the problems in mind, Varun Sharma appointed Siyaram Singh who had 14 years of experience of working with the actual workforce and passing on instructions of the middle management to the workers.
              Siyaram Singh met Varun Sharma to understand what the management wanted? Thereafter he met the workers and conveyed the ideas of management to them. He also promised the workers to convey their problems to the management. In this way, he cleared the misunderstanding between the management and the workers. He also sorted out internal differences and was able to unite the workers within a  month of his joining. His work was acknowledged by management and he was given a certificate of good performance along with a 10% increase in salary.

(i) Siyaram Singh performed some of the functions which are required to be performed at the position he is working at. State any five other functions Siyaram Singh is expected to perform.
(ii) Name the incentives provided to Siyaram Singh.

Concept: Levels of Management
Chapter: [1.04] Nature and Significance of Management

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