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HSC Board Question Paper July 2023: Organisation of Commerce and Management – Solutions

Board Question Paper: July 2023 - Organisation of Commerce and Management
Board Question Paper July 2023 Organisation of Commerce and Management Board Question Paper July 2023 Organisation of Commerce and Management Board Question Paper July 2023 Organisation of Commerce and Management

BOARD QUESTION PAPER: JULY 2023
ORGANISATION OF COMMERCE AND MANAGEMENT

Time: 3 Hrs. | Max. Marks: 80

Q.1. (A) Select the correct options and rewrite the sentences: [5]

1. The functions of management end with _______.

  • (a) directing
  • (b) staffing
  • (c) controlling
Answer: The functions of management end with (c) controlling.

2. _______ is the idea of bringing urban residents to rural areas by empowering local community, both socially and economically.

  • (a) Agro tourism
  • (b) Medical tourism
  • (c) Entertainment
Answer: (a) Agro tourism is the idea of bringing urban residents to rural areas by empowering local community, both socially and economically.

3. Door to door service is provided by _______ transport.

  • (a) railway
  • (b) road
  • (c) air
Answer: Door to door service is provided by (b) road transport.

4. In online shopping customers put the product in the _______.

  • (a) shopping mall
  • (b) shopping cart
  • (c) shopping bag
Answer: In online shopping customers put the product in the (b) shopping cart.

5. _______ is celebrated as World Consumers Day.

  • (a) 24th December
  • (b) 26th January
  • (c) 15th March
Answer: (c) 15th March is celebrated as World Consumers Day.

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(B) Match the correct pairs: [5]

Group ‘A’ Group ‘B’ (Solution)
(a) Scientific management theory (3) F.W. Taylor
(b) Co-ordinating (5) It is an integration and synchronization of the efforts of group
(c) Outsourcing (2) Business Process Outsourcing (BPO)
(d) Business ethics (9) Branch of social science
(e) Registered brands (8) Trademark

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(C) State whether the following statements are true or false: [5]

1. The principles of management are universal in nature.

Answer: True

2. Every function of management is not based on planning.

Answer: False

3. It is the responsibility of commercial organization to maintain industrial peace.

Answer: True

4. Consumer Protection Act is not required in India.

Answer: False

5. Regulated market operates according to forces of demand and supply.

Answer: False

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(D) Correct the underlined word and rewrite the statement: [5]

1. Security in job always affects adversely on efficiency of employees.

Answer: Insecurity in job always affects adversely on efficiency of employees.

2. Staffing is concerned with machines.

Answer: Staffing is concerned with humans / employees.

3. Dishonest advertising can be appreciated by customers in the long run.

Answer: Honest advertising can be appreciated by customers in the long run.

4. District Commission is also referred to as People's Court.

Answer: Lok Adalat is also referred to as People's Court.

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5. Grading helps in avoiding breakage, damage and destruction of the product.

Answer: Packaging helps in avoiding breakage, damage and destruction of the product.

Q.2. Explain the following terms / concepts (Any FOUR): [8]

1. Fatigue Study

Answer: Generally long working hours without sufficient breaks affect the health and efficiency of the employees. Fatigue study is the scientific study of the amount and frequency of rest intervals required in completing a task. It helps to reduce physical and mental stress of employees and maintain their operational efficiency.

2. Planning

Answer: Planning is the fundamental function of management. It is the process of deciding in advance what to do, how to do it, when to do it, and who is to do it. It bridges the gap between where we are and where we want to go. It is an intellectual process of logical thinking and rational decision making.

3. Communication

Answer: Communication is an exchange of facts, ideas, opinions, or emotions by two or more persons. It is the art of conveying information from one person to another. In business, communication is essential for coordination, decision making, and maintaining good industrial relations.

4. Social Responsibility

Answer: Social responsibility of business refers to the obligation of business management to take decisions and perform actions which are desirable in terms of the objectives and values of society. It implies that businessmen should not only strive for profit but also consider the interest of various groups of society like employees, consumers, government, etc.

5. Moral Values

Answer: Moral values refer to the standards of good and bad, right and wrong, or fair and unfair behaviour. In the context of business ethics, moral values guide the behavior of businessmen to conduct business in a righteous manner, ensuring honesty, integrity, and fairness in dealings.

6. Right to consumer education

Answer: The right to consumer education ensures that every consumer has the right to acquire knowledge and skills to be an informed consumer throughout life. This right protects consumers from ignorance and helps them make informed choices while purchasing goods and services. It includes knowledge about consumer rights and reliefs available.

Q.3. Study the following case / situation and express your opinion (Any TWO): [6]

1. Mr. Harshad is an entrepreneur and engaged in production of eco-friendly utensils. Both male and female workers are working in his factory. All male employees are directly working on machines whereas female employees are working in packaging department. Mr. Sharath is working as finance manager while Mrs. Naina is working as HR manager who is responsible for recruiting employees in the factory. On this basis:

  1. Which principle of management is involved in above case?
  2. What is the designation of Mrs. Naina in this organisation?
  3. Who is responsible for overall planning of the organisation?
Answer:
  1. The principle of Division of Work is involved in the above case (as work is divided based on gender/nature of job, though it also touches upon Equity).
  2. Mrs. Naina is the HR Manager (Human Resource Manager).
  3. Mr. Harshad (The Entrepreneur/Owner) is responsible for the overall planning of the organization.

2. Mr. Jagan is a salaried person. He wants to take policy for his two children which assures them protection as well as completes their financial needs once they become major by age:

  1. Suggest Mr. Jagan a policy which can satisfy requirements of his children.
  2. Who are beneficiaries of policy?
  3. In above case which insurance principle is involved?
Answer:
  1. Mr. Jagan should take a Child Insurance Policy or Children’s Endowment Policy.
  2. The Children of Mr. Jagan are the beneficiaries of the policy.
  3. The Principle of Insurable Interest is involved (Mr. Jagan has an insurable interest in his children).

3. A vehicle manufacturing company has adopted the following practices:
i. Only those components will be used by the company which are environment friendly.
ii. There will be discharge of harmful wastes only after their proper treatment.
iii. Pollution level of every vehicle will be maintained as per international standards.

  1. Above business organisation follows social responsibility towards which interest group?
  2. What kind of pollution should business organisations avoid?
  3. What kind of message do they want to convey?
Answer:
  1. The organization follows social responsibility towards Society or the Community/Environment.
  2. Business organizations should avoid Air, Water, and Noise Pollution (Specifically environmental pollution caused by untreated waste and emissions).
  3. They want to convey the message of Environmental Protection and being an Eco-friendly organization.

Q.4. Distinguish between the following (Any THREE): [12]

1. Organising and Co-ordinating

Answer:
Point of Difference Organising Co-ordinating
Meaning It is the process of defining and grouping the activities of the enterprise and establishing authority relationships among them. It is the process of integrating the efforts of different departments and employees to achieve common goals.
Objective To bring together resources (men, material, money) for the achievement of goals. To ensure harmony and unity of action among employees and departments.
Order It follows the planning function. It is a continuous function that follows organising, staffing, directing, etc.
Scope It includes identification, grouping of activities, and assignment of duties. It includes integration of group efforts and maintaining balance.

2. Rail transport and Air transport

Answer:
Point of Difference Rail Transport Air Transport
Speed It is faster than road and water transport but slower than air transport. It is the fastest mode of transport.
Cost It is relatively economical for long distances. It is the most expensive mode of transport.
Suitability Suitable for carrying heavy and bulky goods over long distances. Suitable for perishable, light, and valuable goods requiring quick delivery.
Door-to-door Does not provide door-to-door service. Does not provide door-to-door service.

3. Fire insurance and Marine insurance

Answer:
Point of Difference Fire Insurance Marine Insurance
Subject Matter The subject matter is property, assets, or goods liable to damage by fire. The subject matter is ship (hull), cargo, or freight.
Risk Covered It covers risks related to loss or damage caused by fire, ignition, explosion, etc. It covers perils of the sea like sinking, collision, pirates, etc.
Duration Usually taken for a period of one year. Taken for a specific voyage (Voyage Policy) or period (Time Policy) or both.
Insurable Interest Must exist both at the time of taking policy and at the time of loss. Must exist at the time of loss.

4. District commission and National commission

Answer:
Point of Difference District Commission National Commission
Area of Jurisdiction It covers a particular district. It covers the entire country (India).
Monetary Jurisdiction Entertains complaints where the value of goods/services does not exceed ₹1 Crore (as per CPA 2019/2021 updates). Entertains complaints where the value of goods/services exceeds ₹10 Crores.
President A person who is or has been or is qualified to be a District Judge. A person who is or has been a Judge of the Supreme Court.
Appeal Appeal against its order lies with the State Commission. Appeal against its order lies with the Supreme Court.

Q.5. Answer in brief (Any TWO): [8]

1. Explain any four advantages of outsourcing.

Answer: Advantages of Outsourcing:
  1. Cost Reduction: Outsourcing reduces operating costs as the service provider can perform the task at a lower cost due to economies of scale and specialization.
  2. Focus on Core Activities: By outsourcing non-core activities, companies can focus more on their core competencies and strategic goals.
  3. Access to Skilled Manpower: It provides access to expert and skilled resources that might not be available internally within the organization.
  4. Increased Efficiency: Specialized agencies perform tasks faster and with better quality, leading to overall increased organizational efficiency.

2. State any four needs of consumer protection.

Answer: Needs of Consumer Protection:
  1. Consumer Ignorance: Consumers are often ignorant about their rights, market conditions, and price levels. Protection helps them avoid exploitation.
  2. Unorganized Consumers: Consumers are scattered and unorganized, making them weak against powerful sellers. Protection laws empower them.
  3. Spurious Goods: To protect health and safety from adulterated, duplicate, and hazardous goods.
  4. Misleading Advertising: Sellers often use misleading advertisements to sell inferior products. Consumer protection ensures accountability for such claims.

3. Explain any four functions of marketing.

Answer: Functions of Marketing:
  1. Product Design and Development: Designing the product according to consumer needs and improving it to make it attractive and useful.
  2. Standardization and Grading: Ensuring the product meets specific quality standards (Standardization) and classifying products based on quality, size, etc. (Grading).
  3. Pricing of Product: Determining the monetary value of the product, which affects demand and sales volume.
  4. Promotion: Using communication tools like advertising, sales promotion, and personal selling to inform and persuade customers to buy the product.

Q.6. Justify the following statements (Any TWO): [8]

1. Taylor emphasized on standardization of tools and equipments.

Answer: Justification:
  • Standardization refers to the process of setting standards for every business activity, process, raw material, time, product, machinery, methods, or working conditions.
  • F.W. Taylor believed that standardized tools and equipment ensure uniformity in production.
  • It helps in reducing spoilage and wastage of material.
  • It improves the quality of work and reduces fatigue among workers as they use tools designed for specific tasks.
  • Thus, to increase efficiency and output, Taylor emphasized standardization.

2. An entrepreneur must be an innovator.

Answer: Justification:
  • Innovation is a dynamic function of an entrepreneur. It involves introducing something new to the market.
  • It could be a new product, a new method of production, a new market, or a new source of raw material.
  • Customers' needs and preferences change constantly, and innovation helps in satisfying these changing needs.
  • Innovation gives a competitive edge to the business and helps it survive and grow in a competitive environment.
  • Therefore, an entrepreneur must be an innovator to sustain business success.

3. Online transaction is done with the help of the internet.

Answer: Justification:
  • Online transactions involve the buying and selling of goods and services over digital networks.
  • The entire process, from product selection to payment, takes place virtually.
  • It requires a robust internet connection to access websites or apps, browse catalogs, and communicate with servers.
  • Payment gateways use the internet to verify and transfer funds securely between banks and merchants.
  • Without the internet, the connectivity required for real-time data exchange in online transactions is impossible.

4. Consumers have many responsibilities.

Answer: Justification:
  • Rights and responsibilities go hand in hand. While laws protect consumers, they must also be responsible.
  • Consumers must exercise their right to choose and be aware of the quality and price of goods.
  • They are responsible for insisting on a cash memo or receipt as proof of purchase.
  • Consumers must read labels, instructions, and warnings carefully before using products.
  • They have a responsibility to file complaints against unfair trade practices to stop exploitation.

Q.7. Attempt the following (Any TWO): [10]

1. Explain the importance of controlling.

Answer: Importance of Controlling:
  1. Fulfilling Goals of Organization: Controlling measures progress towards goals and corrects deviations, ensuring organizational objectives are met.
  2. Making Efficient Utilization of Resources: It reduces wastage and spoilage of resources by monitoring performance against standards.
  3. Accuracy of Standards: An efficient control system helps management verify whether the standards set are accurate and objective.
  4. Motivates Employees: Employees know what is expected of them and the standards of performance, which motivates them to perform better.
  5. Ensures Order and Discipline: It creates an atmosphere of order and discipline by reducing dishonest behavior and negligence.

2. What are the functions of warehouses?

Answer: Functions of Warehouses:
  1. Storage: The basic function is to store surplus goods until they are needed for consumption.
  2. Price Stabilization: By adjusting the supply of goods in the market (releasing when demand is high and storing when demand is low), warehouses help stabilize prices.
  3. Risk Bearing: When goods are stored in warehouses, the risk of loss due to theft, fire, or damage is borne by the warehouse keeper.
  4. Financing: Warehouse receipts can be used as collateral security to obtain loans from banks and financial institutions.
  5. Grading and Packing: Warehouses often provide facilities for grading, packing, and processing goods to make them saleable.

3. Explain the classification of market on the basis of area covered and volume of transaction.

Answer: A. On the Basis of Area Covered:
  1. Local Market: Buyers and sellers belong to the local area (e.g., a village or town). Perishable goods are often sold here.
  2. National Market: It covers the entire country. Goods are exchanged within the boundaries of the nation (e.g., Hindi books, Sarees).
  3. International Market: Goods are exchanged across national borders. It involves import and export between countries.
B. On the Basis of Volume of Transaction:
  1. Wholesale Market: Goods are bought and sold in bulk quantities. Wholesalers sell to retailers.
  2. Retail Market: Goods are sold in small quantities directly to the ultimate consumers.

Q.8. Define Bank. Explain secondary functions of Bank. [8]

OR

Explain the importance of marketing to the society and firm.

Option 1: Define Bank. Explain secondary functions of Bank.

Answer:

Definition of Bank: According to the Banking Regulation Act, 1949, "Banking means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise."

Secondary Functions of Bank:

Secondary functions are divided into two parts: Agency Functions and Utility Functions.

A. Agency Functions:
  1. Periodic Collections and Payments: Banks collect salary, dividend, interest, etc., and make payments for electricity bills, insurance premiums, etc., on behalf of customers as per standing instructions.
  2. Portfolio Management: Banks buy and sell shares and debentures for their clients.
  3. Fund Transfer: Banks transfer funds from one branch to another or one bank to another using NEFT, RTGS, IMPS, etc.
  4. Dematerialization: Banks provide D-mat facilities to hold securities in electronic format.
  5. Forex Transactions: Banks purchase and sell foreign exchange for their customers.
B. Utility Functions:
  1. Issue of Drafts and Cheques: Banks issue demand drafts and traveler's cheques for safe transfer of money.
  2. Locker Facility: Banks provide safe deposit vaults (lockers) to keep valuables like jewelry and documents safe.
  3. Project Reports: Banks prepare project reports and feasibility studies for clients.
  4. Gift Cheques: Banks issue gift cheques and gold coins for special occasions.
  5. Underwriting Services: Banks underwrite the issue of shares and debentures for companies.

Option 2: Explain the importance of marketing to the society and firm.

Answer: A. Importance of Marketing to the Society:
  1. Increase in Standard of Living: Marketing provides a variety of goods and services to society, improving the quality of life.
  2. Provides Employment: Marketing activities like distribution, sales, advertising, and packaging create large-scale employment opportunities.
  3. Decreases Distribution Costs: Efficient marketing channels reduce the cost of distribution, making products available at affordable prices.
  4. Consumer Awareness: Marketing informs consumers about new products, usage, and prices, educating them to make better choices.
B. Importance of Marketing to the Firm:
  1. Increases Awareness: Marketing creates awareness about the brand and product among potential customers.
  2. Increases Sales: Effective marketing strategies attract customers, leading to higher sales and revenue.
  3. Creates Trust: Good quality products and consistent communication help build trust and loyalty among customers.
  4. Basis for Making Decisions: Marketing research provides data on consumer needs and market trends, helping management take correct decisions.
  5. Source of New Ideas: Feedback from marketing helps firms understand changing needs and innovate new products.
  6. Tackling Competition: Marketing helps firms differentiate their products and stay ahead of competitors.

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