Model Paper 3 — Business Studies STD 12 Commerce — Question

Two years ago, Mayank obtained a degree in food technology. For some time, he worked in a company that manufactured bread and biscuits. He was not happy in the company and decided to have his own bread and biscuits manufacturing unit. For this, he decided the objectives and the targets, and formulated an action plan to achieve the same.
One of his objectives was to earn 50% profits on the amount invested in the first year. It was decided that raw materials like flour, sugar, salt, etc. will be purchased on two months credit. He also decided to follow the steps required for marketing the products through his own outlets. He appointed Harsh as the Production Manager who decided the exact manner in which the production activities were to be carried out. Harsh also prepared a statement showing the requirement of workers in the factory throughout the year. Mayank informed Harsh about his are a wise sales target for different products, for the forthcoming quarter. While working on the production table, a penalty of ?150 per day was announced for not wearing the helmet, gloves and apron by the workers.
Quoting lines from the above paragraph, identify and explain the different types of plans discussed.

State any four points of importance of organising function of management.

Explain any two points of importance of ‘consumer protection’ from the point of view of business and any two points from the point of view of consumers.

Differentiate between ’management’ and ’administration’.

“Authority can be delegated but accountability cannot”. Explain the statement.

Esha works as the cost and risk management head of a company in power sector. As a result of her excellent managerial competence, the company is able to reduce costs and increase productivity. The company belongs to infrastructure sector, wherein regular amendments are made in the government regulations and policies. She holds regular meetings to ensure that people in her department are not only aware of the related changes but are also able to adapt to these changes effectively. This helps the company to maintain its competitive edge. She motivates and leads her team in such a manner that individual members are able to achieve personal goals while contributing to the overall organisational objective. In the process of fulfilling her duties for the growth of the organisation, she helps in providing competitive services, adopting new technology, creating more employment opportunities etc. for the greater good of the people at large.
In context of the above case :
Identify the various reasons that have made management so important by quoting lines from the paragraph.

Give the meaning of ‘Objectives’ and ‘Procedure’ as types of plans.

“Authority can be delegated but responsibility cannot”. Explain.

How is training of employees beneficial for the organisation? State by giving any four reasons.

Identify and explain the promotional tool of marketing mix, which involves oral presentation of message with one or more prospective customers for the purpose of making sales. Also, explain any three benefits of this tool in the economic progress of the society.