Scs_AKN_business studies

MAY 1, 2020 DAY 4 THANK YOU FOR LOGGING IN! GOOD MORNING BOYS! LEARNING OUTCOMES- At the end of the lesson, students will be able to- a) Explain the philosophies of marketing management. b) Identify the marketing management philosophies in the case study. YESTERDAY'S ANSWER: Marketing Functions are as follows: 1) Gathering and analyzing market information-" They conducted------------quality atta." 2) Branding-" They named their product Srijan" 3) Pricing- " To penetrate-------------------------prices low." 4) Storage or Warehousing- " For maintaining --------------------------quick delivery." 5) Customer Support Services- "They also -------------------------grievances." PLEASE WATCH A SMALL VIDEO BELOW FOR BETTER UNDERSTANDING OF THE TOPIC: PLEASE TAKE DOWN THE NOTES NOW: Q.3 Explain marketing management philosophies in detail. (5) Ans-1. Production Concept- a) It is based on the belief that

MAY 1, 2020 DAY 4 THANK YOU FOR LOGGING IN. GOOD MORNING BOYS. BEFORE WE START WITH OUR MERITS AND DEMERITS OF SOLE PROPRIETORSHIP, LET US FIRST SEE YESTERDAY'S CASE STUDY ANSWER. CHARACTERISTICS OF BUSINESS RISK ARE AS FOLLOWS: 1. RISK ARISE DUE TO UNCERTAINTY LINES ARE " SHE ACKNOWLEDGES----------------NATURAL CALAMITIES, ETC" 2. RISK DEPENDS ON THE NATURE AND SIZE OF BUSINESS LINES ARE "AS HER BUSINESS IS OPERATED------------RELATIVELY LOW." 3. PROFIT IS THE REWARD FOR RISK TAKING LINES ARE " AT THE SAME TIME----------------------------ORGANISATIONS." 4. RISK IS ESSENTIAL FOR EVERY BUSINESS LINES ARE " ALSO, SHE FEELS THAT------------------------ALL TOGETHER." LEARNING OUTCOMES- At the end of the lesson, students will be able to: 1) Discuss the merits of sole proprietortship. 2) Explain the demerits of sole proprietorship. WATCH MERITS AND DEMERITS OF SOLE PROPRIETORSHIP THROUGH THIS VIDEO AND THEN TAKE DOWN

APRIL 29, 2020 DAY 3 THANK YOU FOR LOGGING IN. GOOD MORNING BOYS! LEARNING OUTCOMES- At the end of the lesson, students will be able to- a) Identify the various functions of marketing in the case study. b) Explain the functions of marketing in detail. I WILL START THIS TOPIC WITH A SMALL VIDEO GIVEN BELOW. NOW TAKE DOWN THE NOTES: 7. Branding- a) It is the process of giving a name, sign or symbol to a product which helps in identifying and distinguishing it from competitors product. b) It  helps the customers in identifying the product as a customer, enables making product differentiation and ensures quality as the customers can have recourse to the manufacturer or marketer if there is any deviation in quality. 8. Pricing of products- a) Price may be defined as the amount of money paid by the buyer in  consideration for the purchase of a  product or service . b)Price mix involves different pricing methods ,pricing strategies,  pricing policies and price changes

APRIL 29, 2020 DAY 2 THANK YOU FOR LOGGING IN. GOOD MORNING BOYS! YESTERDAY'S CASE STUDIES ANSWERS: 1. Dimensions of Business Environment are- Social, Economic, Political and Technological Environmemt. 2. i) Technological Environment     ii) Business Environment includes both specific and general forces and It is dynamic in nature.      iii) It helps the firm to identify threats and early warning signals.            It helps in planning and policy formulation.  3. a) Features of Business Environment are Dynamic nature, Uncertainty and Complexity.      b) Impact of government policy changes are Increasing Competition, More Demanding Customers and Market Orientation.      c) It helps the manager in coping with rapid changes. FOR THE TIME BEING, WE WILL START PART -B, CHAPTER 11 NOW. THIS IS VERY IMPORTANT FOR YOUR PROJECT WORK. OUR FIRST TOPIC IS MEANING OF MARKETING AND ITS FEATURES. LEARNING OUTCOMES- At the end of the lesson, students will be able to: 1) D

APRIL 29, 2020 DAY 2 THANK YOU FOR LOGGING IN. GOOD MORNING BOYS! PLEASE WRITE YOUR NAME AND ROLL NUMBER FOR THE ATTENDANCE IN THE COMMENTS BOX. TODAY, WE ARE STARTING NEW CHAPTER, CHAPTER-2 (FORMS OF BUSINESS ORGANISATION). LEARNING OUTCOMES- At the end of the topic, students will be able to: 1) List the forms of private sector enterprises. 2) Explain the meaning and features of sole proprietorship. OUR FIRST FORM WHICH WE WILL STUDY TODAY IS SOLE PROPRIETORSHIP. PLEASE WATCH A SHORT VIDEO FIRST BEFORE WE START THIS TOPIC.   NOW TAKE DOWN THE NOTES: Q.1 What are the forms of private sector enterprises? (1) Ans- a) Sole Proprietorship          b) Joint Hindu Family Business.          c) Partnership.          d) Cooperative Society          e) Joint Stock Company Q.2 What is meant by Sole Proprietorship? (3) Ans- It is the oldest ,simplest and most popular form of business organisation. It refers to a form of business organisation which is owned ,managed and

APRIL 28, 2020 DAY 1 Thank you for logging in. Good morning boys! Now we are on the last topic of Chapter 1 which is Factors to be considered before starting a business. There are 10 points given in NCERT but you will only write 6 points which are the main factors. LEARNING OUTCOMES: At the end of the topic, students will be able to- 1) List all the factors before starting a business. 2) Explain the above factors. First of all, watch a small video given below and then take down your notes. Q.19 Explain the factors to be considered before starting a business. (6) Ans- 1. Selection of Business Line- a) Every entrepreneur starts business with an aim to earn maximum profits, the selection of Business depends upon: i) Branch of industry or commerce which has  possibility of greater profits. ii)  Customer requirements. iii) Technical knowledge and interest of the entrepreneur . 2 Size of business - a) Decision regarding scale of operation and size of business depen

APRIL 27, 2020 DAY 5 Thank you for logging in. Good morning boys! Now, we will move to our next topic of chapter-3 which is Impact of government policy changes to business and industry and managerial responses to changes in business environment. LEARNING OUTCOMES- At the end of the topic today, students will be able to: a) Discuss the impact of government policy changes to business and industry. b) Comprehend the managerial responses to changes in business environment. c) State the components of business environment. Watch a short video first to understand the impact of government policy changes to changes in business environment, after 1991 i.e Liberalisation, Privatisation and Globalisation. NOW TAKE DOWN THE NOTES: Q.10 Explain the impact of government policy changes on business and industry. (6) Ans- The policy of LPG of the government has made  significant impact on the working of enterprises in the business and industry. This can be explained as follows: 1)

APRIL 27, 2020 DAY 5 Thank you for logging in. Good morning boys! I hope you all have understood the meaning of business risks and its features till now. Let us now start with the causes and types of business risks. PLEASE NOTE THAT ON 30th APRIL( DAY 3) , THERE WILL BE SHORT ASSESSMENT FROM CHAPTER-1 (excluding History Of Commerce).  LEARNING OUTCOMES: At the end of the lesson, students will be able to: a) Explain the causes of business risks. b) Identify the types of business risks. YOU MUST WATCH THIS SHORT VIDEO IN ORDER TO RELATE IT WITH THE TOPIC WE ARE DOING TODAY: NOW TAKE DOWN THE NOTES IN YOUR REGISTER: Q .17 Explain the causes of business risk . (4) Ans- 1.Natural Causes- a) Natural causes like flood, earthquake, etc lead to loss of life and property resulting into loss of business opportunities. b)This type of risk is beyond the human control that can be minimised with insurance. 2.Human Causes- a) Human causes like power failure, strikes or lo

APRIL 24, 2020 Good morning boys! Now, we are starting a new topic today i.e demonetisation which you all are aware of. It happened on Nov 8, 2016 by the Government of India and it affects two environments mainly which are POLITICAL AND ECONOMIC ENVIRONMENT. Learning outcome for today- At the end of the topic, students will be able to- 1) Explain the meaning of demonetisation. 2) Discuss the features and effects of demonetisation. First of all, you must watch this video to understand the topic better: Now, take down your notes: Q.7 Explain the concept of demonetisation and its features. (5) Ans- Demonetisation means cancelling the legal tender status of a currency unit in circulation. The Government of India announced demonetisation of the two largest denomination notes, Rupees 500 and Rupees 1000 on 8 November 2016. This led to 86% of the money in circulation invalid. The features of demonetisation are as follows: 1) Demonetisation is viewed as a tax administrati

APRIL 27, 2020 DAY 5 Good morning boys! Let us start a new topic today i.e meaning of business risks and its features. LEARNING OUTCOMES-At the end of the topic, students will be able to: a) State the meaning of business risk with examples. b) Explain the features or characteristics of business risks. WATCH THE VIDEO GIVEN BELOW FIRST: WRITE THE MEANING AND FEATURES OF BUSINESS RISKS: Q.16 What do you mean by business risks? Explain its nature or features. (5) Ans- Business risk arises due to uncertainties  or unexpected events which involves either a possibility of inadequate profits or even losses. For example- change in prices , change in demand , change in taste and preferences of consumers, etc.  Nature or features of business risk are as follows- 1. Risk arises due to uncertainties- a) Business is at risk due to lack of knowledge about events which will happen in future. b) For example- change in demand,  change in technology,  government policies, etc.

APRIL 23, 2020 Good morning boys! We will now move to our next topic which is liberalisation, privatisation and globalisation. LEARNING OUTCOME- At the end of the topic, students will be able to- a) Explain the terms Liberalisation, Privatisation and Globalisation. b) Identify the above terms in the given case study. First, watch the video given below for better understanding of this topic and then take down your notes. Q.6 Explain the meaning of Liberalisation, Privatisation and Globalisation. (6) Ans- 1. Liberalisation- a) It means removal of unnecessary controls and restrictions on business. b) Features of liberalisation are as follows- - Abolishing licensing requirement in most of the industries accept a shortlist. - Freedom in  deciding the scale of business activities i e no restrictions on expansion or contraction of business activities. -  Removal of restrictions on the movement of goods and services. - Freedom in fixing the prices of goods and service

APRIL 24,2020 Good morning boys! I hope you all have understood the types of industries. so, we are on the second part of business activities which is Commerce and its types. COMMERCE IS DIVIDED INTO TWO TYPES: 1. TRADE 2. AUXILIARIES OR AIDS TO TRADE. First of all, you will write about them and then watch a video related to these topics to understand the topic better. LEARNING OUTCOMES FOR TODAY- AT THE END OF THIS TOPIC, STUDENTS WILL BE ABLE TO: a) Explain the types of trade. b) Discuss the auxiliaries to trade. c) Relate the aide to trade with the function of commerce. Q.13 What are the types of Commerce? (1) Ans- 1. Trade 2. Auxiliaries to trade Q .14 What is Trade? What are the types of trade?( 5) Ans- Trade means sale or exchange of goods either by producers themselves or by businessmen engaged in trading activities with an aim to earn profit. It facilitates large scale production of goods. There are two types of trade: 1. Internal/ Domestic Trade- a)

April 23, 2020 Good morning boys! Let us now start with our second part of Business Activities which is Commerce. Learning outcomes- At the end of the topic, students will be able to- 1) Explain the functions or role of Commerce. 2) State the meaning of Commerce. Q.12 Explain the role/ functions of Commerce. (6) Ans All activities related to buying and selling or providing services to facilitate buying and selling are part of Commerce. It acts as a link between producers and consumers to ensure efficient distribution of goods. They help to maintain free and smooth flow of goods and services by removing various hindrances related to people, place, time, risk, finance and information which are explained as follows- 1. Removing the hindrance of people- a) Commerce removes the hindrance of people with the help of traders who removes the gap between production and consumption and helps in the distribution of goods. 2. Removing the hindrance of place- a) Commerce removes the h

April 22, 2020 Good morning boys! Let us start with the types of business activities and our first type is Industry which we are going to study in detail today. Learning outcomes- At the end of the topic, students will be able to- 1) Explain the various types of industries. 2) Identify the type of industry with the help of its example. 3) Differentiate between the types of industries. Q.11 What is meant by Industry? Explain the types of industries. ( 1+5=6) Ans - Industry involves all economic activities connected with conversion of resources into useful goods. For example -textile industry  and electronic industry. The industries can be divided into three categories - 1.PRIMARY INDUSTRIES- It includes all activities related to extraction and production of natural resources and reproduction of plants and animals. They ate divided into two parts - a) Extractive Industries- These industries draw or extract products from natural resources .They are either directly consumed o

April 22, 2020 Good morning boys! Our next topic is dimensions of business environment. Learning outcomes- At the end of the lesson, students will be able to- 1) Explain the dimensions of business environment. 2) Identify the dimensions of business environment. Q.5 Explain the dimensions of general business environment. (5) Ans- There are five dimensions of general environment which are explained as follows: 1. Economic environment- a)Some of the economic factors that can affect management practices in a business enterprise are interest rates, inflation rates, stock market indices, value of rupee, changes in disposable income of people, etc. b) For example- A rise in the disposable income of people due to increase in the GDP of a country creates increasing demand for products. 2.Social Environment- a)The social environment of business includes the social forces like customs and traditions, values, social trends,  society's expectations from business, etc. b) For exa

April 21, 2020 Good morning boys! I hope you all have understood the meaning and features of business environment. Now, today we are going to do the importance of business environment. Then, some case studies will be given to you for practice after completion of these topics. LEARNING OUTCOMES FOR TODAY- At the end of the topic, students will be able to- a) Understand the importance of business environment. b) Identify the importance  of business environment in the case studies. First watch the video given below for better understanding of the topic and then write: NOW WRITE DOWN: Q.4 Explain the importance of business environment. (6) Ans- 1. It enables the firm to identify opportunities and getting the first mover advantage - a) Opportunities refer to the positive external trends or changes that will help a firm to improve its performance. Early identification of opportunities helps an enterprise to be the first to exploit them instead of losing them to the com

APRIL 21, 2020 Good Morning boys! I hope you all have understood the economic and social objectives of business and the role of profit in business. Today we will do the multiple objectives of business and is profit the sole objective of business. LEARNING OUTCOMES- At the end of the topic, students will be able to - a) Understand the multiple objectives of business. b) Discuss  profit as a sole objective of business or not.     Q.9 Why multiple objectives are needed by an organization? Explain them. (6) Ans- As business seeks to create a balance between different needs and goals of different interest groups, like consumers, employees, society, etc, it needs multiple objectives. Some of them are explained as follows: 1.       Market Standing- a)       It refers to the position of a business in context of its competitors. b)       Every business enterprise must aim at securing a stronger standing in terms of offering competitive products to its customers and serving th

April 20, 2020 Good morning boys! Let us first see Saturday's answers: 1) Vaisyas, Marwaris. 2) It is inherited business which provides services to specific caste and communities. 3) If an activity involves monetary benefit, it is known as economic activity. 4) Business is an economic activity as it involves regular exchange of goods and services with the aim to earn profit. 5)No, because it is not done to earn livelihood. Today's Topic is OBJECTIVES OF BUSINESS Learning outcomes- At the end of the topic, students will be able to- 1) State the social and economic objectives of business. 2) Explain the role of profit in business. Q.7 Explain the economic and social objectives of business.(6) Ans-  objective is the purpose for which an activity is performed. It provide directions  to all business decisions and actions. The objectives of business can be  classified as follows: A. Economic Objectives- Business being an economic activity , its main objectives are