List of top Business Studies Questions

Choose the incorrect statement with respect to demonetization:
From the following, identify the one which is not a function of stock exchange:
‘Maslow’s Need Hierarchy theory’ is based on certain assumptions. Identify the incorrect statement with respect to these assumptions:
Niyati, a school teacher, tells children not to pollute the environment and carries a bag to collect wrappers. Which responsibility of a consumer is she discharging?
Raunaq, while studying at the university, felt that there should be a food joint in the university campus to provide food to students round the clock. After passing out of college, he set up ‘Hunger Point’ in the university campus. Since he was the first one to recognize this need, it soon became popular and profitable. Identify the point of importance of business environment discussed in the case:

Inspired by the success of Chandrayaan-3, the Chief Scientist at ‘Space Rover’ a private research group, decided to send some innovative ideas regarding the mission to the Chief Scientist of Chandrayaan-3. The Chief Scientist at ‘Space Rover’ formed four groups for the same. As it was an intellectual activity of thinking rather than doing, these four groups started interacting with each other and friendships developed. On the basis of their interaction and friendship, some members from each group formed ‘Entertainment Through Reading’ group which showed conformity in terms of their interest. ‘Entertainment Through Reading’ group had no written rules, was unstable in form and scope and had no fixed lines of communication. The members of this group enhanced the morale of each other, enjoyed drinking coffee together, read books, served different issues of their work areas and provided support to each other. Ultimately this group developed some innovative ideas which were sent by ‘Space Rover’ to the Chief Scientist of Chandrayaan-3. Though this group was formed for recreation but it contributed towards fulfillment of organisational objectives.
(a) Identify the function of management. Quoting the lines from the above para, explain the steps of the process of the function of management discussed. 
(b) Also explain any two points of importance of the function of management identified in (a).

(a) Identify and explain the function of management discussed in the above para. 
(b) Explain any four points of importance of the function identified in (a).

Explain the following factors affecting the working capital requirements of a business: 
(i) Credit allowed 
(ii) Production cycle 
(iii) Availability of raw material

Explain the following points of significance of principles of management: 
(i) Providing managers with useful insights into reality 
(ii) Meeting changing environment requirements 
(iii) Scientific decisions

Explain the following functions of marketing:
(i) Gathering and Analysing Market Information
(ii) Marketing Planning
(a) Explain the following factors affecting the working capital requirements of a business :
(i) Inflation (ii) Business cycle
(iii) Nature of business
OR
(b) Explain the following factors affecting the dividend decision of a company :
(i) Access to capital market
(ii) Legal constraints
(iii) Taxation policy
(a) Explain the following characteristics of principles of management :
(i) Universal applicability
(ii) Formed by practice and experimentation
(iii) Contingent
OR
(b) Explain the following principles of management :
(i) Division of work
(ii) Order
(iii) Unity of command
(a) Explain the following functions of marketing :
(i) Customer support services
(ii) Physical distribution
OR
(b) State any four factors which affect the fixation of price of a product.
(a) State any four points of importance of planning function of management.
OR
(b) Explain the following types of plans :
(i) Objective
(ii) Programme
Kewalram started a sweets shop 'Karamati Sweets' in 1950. The sweets were famous all over India for their good quality and people would come from far and wide to purchase sweets from him. As he grew old, he could no longer run the shop. So, he sold the shop to one of his neighbours 'Bholaram'. After a few months, to further increase the revenue, 'Bholaram' started engaging in unfair trade practices like using adulterated khoya and paneer. He thought that no one would know about it as 'Karamati Sweets' had a good image in the eyes of the people. Slowly, people started falling sick after consuming sweets purchased from 'Karamati Sweets' but they did not know where to go and to whom to complain. Raghav, a resident of the village had recently completed his studies. He was also a member of a non-governmental organisation. 'Meri Voice'. He felt that the villagers should be made aware about the rights and reliefs available to them. He started creating awareness about consumer rights among the villagers to protect their interest through a series of talks and presentations in the village.
(a) Identify and explain the consumer right discussed in the above para.
Inspired by the success of Chandrayaan-3, the Chief Scientist at 'Space Rover' a private research group, decided to send some innovative ideas regarding the mission to the Chief Scientist of Chandrayaan-3. The Chief Scientist at 'Space Rover' formed four groups for the same. As it was an intellectual activity of thinking rather than doing, these four groups started interacting with each other and friendships developed. On the basis of their interaction and friendship, some members from each group formed 'Entertainment Through Reading' group which showed conformity in terms of their interest. 'Entertainment Through Reading' group had no written rules, was unstable in form and scope and had no fixed lines of communication. The members of this group enhanced the morale of each other, enjoyed drinking coffee together, read books, served different issues of their work areas and provided support to each other. Ultimately this group developed some innovative ideas which were sent by 'Space Rover' to the Chief Scientist of Chandrayaan-3. Though this group was formed for recreation but it contributed towards fulfillment of organisational objectives.
(a) Identify and explain the type of organization which emerged as 'Entertainment Through Reading'.
'Cortico Fabrics' was started by Ashish in 2001 to sell bed sheets, towels, comforters, pillows, cushions, bath mats etc. It is now a famous name and its branches are across India. To manage the work all over India, it has eight teams-two each for North, South, East and West India. Ashish spends a considerable amount of time to develop an orderly pattern of group efforts among different teams and to secure unity of action in pursuit of a common purpose. To ensure suitable allocation of tasks to the various members of the teams and to see that the tasks are performed with harmony among the members, he tries to balance the different teams at different locations.
(a) Identify and explain the concept of management discussed in the above para.
'Caro', a car manufacturing company was manufacturing high cost, good quality luxury cars. For the last few years, the company was not earning good profits as the demand for the cars was very low.
Chief Executive Officer of the company, Piyush had a meeting with the Production and Sales Managers to discuss how to increase the revenue of the company. They found that nowadays instead of purchasing luxury cars people prefer to have such cars on rental basis. So they decided to start 'Car rental service'. The Production Manager also suggested that as these cars were sophisticated and each spare part was very costly it would be better to provide these cars for rental service along with trained drivers so that there would be less wear and tear. Piyush agreed and a training unit was started. Two of the available cars were used for training the drivers. People were very happy as they were getting these cars on rental basis with trained drivers. The idea was a big hit and the company was able to surpass its profit targets of the last 20 years.
(a) Identify and explain the method of training given by 'Caro' to its drivers.
Explain the following factors affecting the dividend decision of a company: (i) Growth opportunities (ii) Cash flow position (iii) Shareholders’ preference
State the four major components of physical distribution.
Explain the following principles of management: (i) Unity of direction (ii) Remuneration to employees (iii) Equity
Differentiate between ‘Selling Concept’ and ‘Production Concept’ of marketing management philosophies on the basis of:
(a) Meaning
(b) Main Focus
(c) Means
(d) Ends
(a) State any four characteristics of planning.
OR
(b) Explain the following types of plans:
(i) Policy
(ii) Budget
Kewalram started a sweets shop named ‘Karamati Sweets’ in 1950. The sweets were famous all over India for their good quality, and people would come from far and wide to purchase sweets from him. As he grew old, he could no longer run the shop. So, he sold the shop to one of his neighbours, Bholaram. After a few months, in an attempt to increase revenue, Bholaram started engaging in unfair trade practices such as using adulterated khoya and paneer. He believed that no one would find out because ‘Karamati Sweets’ already had a good image in the eyes of the people. However, soon people started falling sick after consuming sweets purchased from the shop, but they did not know where to go and to whom they should complain. Raghav, a resident of the village who had recently completed his studies, was also a member of a non-governmental organisation called ‘Meri Voice’. He felt that the villagers should be made aware of their rights and the reliefs available to them. He took the initiative to create awareness about consumer rights among the villagers to protect their interests through a series of talks and presentations in the village.
(a) Identify and explain the consumer right discussed in the above para.
(b) Also, identify and explain the consumer right violated by ‘Bholaram’ in the above case.
A Business Process Outsourcing centre, ‘Chromosome’ which deals in conversion of voice reports dictated by physicians and other healthcare providers into text format has 40 employees. They ensure that their employees are well versed in at least one foreign language and one Indian language. The employees are also given the required training to ensure that the reports are processed correctly as they are the backbone of the patients’ medical history. On frequent complaints about some of its employees, it was observed that they were facing problems in decoding the message as they were not very proficient with the language in which the voice message was received. As a result, they would make mistakes causing different meaning to the message. Not only this, sometimes there were technical words used in voice reports, the actual meaning of which was also not understood by the employees. Due to this, ‘Chromosome’ was slowly losing its business to competitors. The above case highlights two communication barriers. Identify and explain these barriers.