Scs_AKN_business studies

April 20, 2020 Good morning boys! Let us first see the answer to the previous case study. ANS IS TIME STUDY AND DIFFERENTIAL PIECE WAGE SYSTEM are the two techniques of scientific management highlighted in the case study. Today, we are starting Chapter-3 (Business Environment). There will be short test for XII-A (DAY 1- APRIL 21) and XII-B(DAY 4- APRIL 24). TOPIC IS CHAPTER-2 (PRINCIPLES OF MANAGEMENT). ONLY MULTIPLE CHOICE QUESTIONS WILL BE ASKED. CHAPTER- 3 BUSINESS ENVIRONMENT Q.1 What is meant by business environment? (1) Ans- The term business environment means the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may affect its performance. Q.2 What are the two types of environment? (1) Ans-a) The economic ,social, political, legal and technological forces which operate outside a business enterprise are part of its general environment. b) The individual consumers or competing enterprises a...

April 18, 2020 Good morning boys! Today we will complete the techniques of Taylor and comparison between Taylor and Fayol. Learning outcomes- At the end of the topic, students will be able to: 1) Explain Differential Piece Wage System. 2) Differentiate between Taylor and Fayol. Q.44 Explain Differential Piece Wage System as a technique of scientific management. (4) Ans- 1) It is a method of wage payment in which efficient and inefficient workers are paid at different rates. 2) It is the strongest motivator for the workers to reach standard performance because in this technique incentive is directly linked with productivity. 3) Taylor has suggested two types of peace rates .One is higher piece rate for those workers who perform upto or above the standard output and lower piece rate for those workers who produce less than the standard output. 4) The objective is to differentiate between efficient and inefficient workers and to suitably reward the efficient workers. (Wages= ...

April 18, 2020 Good morning boys! I hope you all have understood till now the history of commerce in India and types of economic activities. If you have any doubt, please ask questions through the comments section of this blog alongwith your attendance. Today's topic is features or characteristics of business. Learning outcomes for today is at the end of the topic, students will be able to explain and identify the features of business. Q.6 Explain the characteristics or features of Business. (6) Ans-1) Business is an economic activity-  a) Business is an economic activity because it is undertaken to earn money for livelihood and not for any sentimental reasons b) It satisfies human needs by supplying goods and services for mutual profit. For example - Selling of goods by a  shopkeeper for a value. 2) Production or Procurement of Goods and Services- a) Business supplies goods to meet the human needs by either manufacturing goods or procuring the consumer goods. b...

April 17, 2020 Good morning boys! Let us see the answer to yesterday's case study. Ans is Science, not rule of thumb and Cooperation, not individualism. Now, we will start techniques of Taylor. Learning objectives- At the end of the topic, students will be able to-  1) Discuss the functional foremanship technique. 2) Explain the various studies under work study.  3) Differentiate between standardisation and simplification technique. Q.41 Explain the technique of functional foremanship. (4/5) Ans-  Diagram will be made first.( given seperately). 1) This technique states that the task of supervision is divided into several specialised functions and each function  is entrusted to a specialist forman. 2) This technique is an extension of principle of division of work or specialisation but it violates the principle of unity of command . 3) This technique advocated separation of planning and execution function. Taylor proposed eight specialist formen, fo...

April 17, 2020 Good morning boys!  First of all, as this is a new subject for you I will give you the type of questions which can be asked. Minimum 1 marker will be there and Maximum 6 marker. Then there is no 2 marker, only 3, 4 and 5 markers are there in between 1 and 6 marker.  The syllabus for PA1 Exam in the month of May is as follows: Chapter 1- Evolution and Fundamentals of Business. Chapter 2- Only Sole Proprietorship meaning, features, merits, demerits and Partnership features. Exam will be of 40 marks and 10 marks for class assessment which includes class test and marks for register. Your notes should be complete on daily basis. Learning objectives- At the end of the topic, students will be able to: 1) Explain the concepts of Business, Profession and employment. 2) Differentiate between the types of economic activities. XI- A will do from Q.1 to 5 XI- B will do Q.4 and Q.5 only as they have already done Q.1, 2 and 3. Q.1 What are the types of human ...

April 16, 2020 Good morning boys! Let us start with Taylor's principles now. Learning Objectives- At the end of the lesson, students will be able to- 1) Explain who was F.W.Taylor. 2) Discuss the principles of F.W.Taylor. Q.38  Who was Fredrick Winslow Taylor. (3) Ans-1) Taylor was an American mechanical engineer. He was the father of scientific management . 2) Scientific management was an important stream of one of the earlier schools of thought of management referred to as the Classical School. 3)Taylor's contribution must be seen in the light of the efforts made to perfect the factory system of production. Q.39 What is scientific management? (1) Ans According to Taylor, " Scientific Management means knowing exactly what you want men to do and seeing that they do it in the best and cheapest way." Q.40 Explain the scientific principles of management. (6) Ans- 1) Science not Rule of thumb- a) Taylor believed  that there was only one best method to ...

April 16, 2020 Good morning boys! Let us move to our first main topic which is TYPES OF ECONOMIC ACTIVITIES. Learning Objectives- At the end the topic, students will be able to: 1) State the types of human activities. 2) Explain the types of human activities. 3) Differentiate between the types of human activities Please note the following in question- answer form in your registers: Q.1 What are the types of human activities? Explain them. (3) Ans-1) Human activities can be categorised as economic and non economic activities . 2) Economic Activities are undertaken with an objective of earning money or for financial gain. For example- Ayushman wishes to earn money by doing business where as Asif wants to earn by becoming a lawyer . 3)Non economic activities are undertaken without any expectations of any kind of monetary reward or benefit. They are influenced by  love,  sympathy,  pleasure,  emotions, etc. For example-  Sana wishes to teach lesser p...