Business, Trade and Commmerce — Business Studies STD 11 Commerce — Question

Azim Premji was 21 when he had to quit his engineering course at Stanford in 1966 because of the death of his father. He took up the challenging task of reorganising and revitalizing the family vegetable oil business, Western India Vegetable Products. Premji quickly introduced the creative and innovative concept of packaging of vegetable oils and expanded the market to rural areas to boost the company's turnover from mere 40 million to 105 million in a record period of five years. Later he expanded Wipro's operations to IT. Premji gives full freedom to his executives to operate. He keeps his company free of any bias and does not favour anybody. In 2001 Azim Premji founded the Azim Premji Foundation - a non-profit organisation to make a significant and long-term contribution to the cause of education in the country.
On the basis of the given information about Azim Premji, answer the following questions:
(a) Identify the different kinds of social responsibility undertaken by Azim Premji by quoting the line.
(b) Identify any two values which have been displayed by Premji?

Identify the types of public sector undertakings in the following situations:

(a) These enterprises are subject to accounting and audit controls applicable to other Government activities.

(b) The employees of these enterprises are not government or civil servants and are not governed by government rules and regulations.

(c) These enterprises has a separate legal existence i.e., it can file a suit in a court of law against any third party and be sued; can enter into a contract and can acquire property in its own name.

(d) These enterprise are wholly owned by the state. The government has the ultimate financial responsibility and has the power to appropriate its profits.

Distinguish between a small scale business unit and large scale business unit on the basis of nature, type of labour, scale of operation and capital.

"Global enterprises are giant both in size and operations." Substantiate this statement.

Discuss the formalities involved in getting an export licence.

Write a short note on 'ploughing back of profits' by companies. What advantages one can accrue out of them?

Which products are suitable for the purpose of retailing through mail order business?

What is the purpose behind intellectual property rights?

Mention the factors that are responsible for lack of popularity of mail order retailing in India.

Cochin Shipyard Ltd. (CSL) is one of the leading shipbuilding and repair yard in India, which has an infrastructure that combines economy, scale, and flexibility, and has ISO 9001 accreditation. The government owns 75% stake in Cochin Shipyard. CSL also has an exclusive area set for offshore construction and future expansion. CSL has been rated excellent by the Government of India, four times in a row for achieving the targets set for the yard under the MOU system With specialised industry knowledge and superior resources, CSL has constantly unfolded new levels of excellence in shipbuilding and ship repair. As a technology leader in India, CSL has adopted the Japanese Integrated Hull Outfitting and Painting System (IHOP) for its new construction, which gives a clear edge to CSL in the field of fabrication of commissioning of accommodation modules and topside modification.

On the basis of the given information about CSL, answer the following questions:

(a) How will you classify Cochin Shipyard Ltd. (CSL) as a form of public sector enterprise?

(b) State any three advantages of the type of public sector enterprise identified in part (a).