Financial Market — Business Studies STD 12 Commerce — Question

Explain briefly any three factors to which the marketer should pay attention before fixing the price of a product.

Explain briefly any two points of importance of consumer protection from the point of view of business.

'Human Resource Management includes many specialised activities and duties'.
State any four such activities.
Or
Give two roles of human resource personnel.

A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?

Explain the following rights of consumers:

1. Right to be informed;
2. Right to safety.

Deewan Ltd. is a multinational consulting company with its headquarters at Washington D.C. It hires young people from different countries of the world.
It is a company in which people dream to work because of its work-environment, pay and growth prospectus. The company has a culture of open communication and people of various nationalities work together in a discrimination free environment. The behaviour of managers of Deewan Ltd. emphasizes kindliness and justice which ensures loyality and devotion of workers. It also promotes mutual trust and belongingness among team members. In this way management of Deewan Ltd. is able to achieve its objectives by promoting team work. By doing so managers of Deewan Ltd. are following some principles of management.
Identify and explain any two such principles.

What do you mean by ‘Levels of Management’?

Give any two features of management principles.

“A business needs to add to its prospects in the long run.” Which organizational objectives highlighted in the statement? Mention two object under this category.

Mita has a successful ice cream business at Bikaner, namely ‘Smartflavours’. Her 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 summer season, she got back to back orders for supply of 4,000 ice cream packs of different flavours 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.