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HSC Board Question Paper February 2023 Organisation of Commerce and Management with Solution

HSC Board Question Paper: February 2023 - Organisation of Commerce and Management Solution
Board Question Paper February 2023

BOARD QUESTION PAPER : FEBRUARY 2023

ORGANISATION OF COMMERCE AND MANAGEMENT

Time: 3 Hrs. | Max. Marks: 80

Note:

  1. All questions are compulsory.
  2. Figures to the right indicate full marks for the questions.
  3. Figures to the left indicate question numbers.
  4. Answer to every question must be started on a new page.
Board Question Paper February 2023 Board Question Paper February 2023

Q.1. (A) Select the correct option and rewrite the sentences: (5 Marks)

1. Scalar chain means the hierarchy of _______ from the top level to the lower level for the purpose of communication.
(a) discipline (b) unity (c) authority
Answer: Scalar chain means the hierarchy of (c) authority from the top level to the lower level for the purpose of communication.
2. ______ warehouses provide facilities for perishable commodity.
(a) Bonded (b) Cold storage (c) Government
Answer: (b) Cold storage warehouses provide facilities for perishable commodity.
3. For online transactions _____ is required.
(a) registration (b) trading (c) business
Answer: For online transactions (a) registration is required.
4. The President of District Forum is_______.
(a) District Judge (b) High Court Judge (c) Supreme Court Judge
Answer: The President of District Forum is (a) District Judge.
5. Retail market is the market where retailer sells goods directly to the _______ in small quantities.
(a) producer (b) wholeseller (c) consumer
Answer: Retail market is the market where retailer sells goods directly to the (c) consumer in small quantities.

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(B) Match the correct pairs: (5 Marks)

Group ‘A’ Group ‘B’ (Correct Answer)
(a) Henry Fayol (9) Modern management theory
(b) Directing (1) It is the process of instructing, guiding, communicating and motivating
(c) Responsibility towards Government (5) Respecting rules and regulations
(d) Digital cash (6) Exist only in cyber space
(e) Monopoly (10) Single seller

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

1. F.W. Taylor has proposed 14 principles of management.
Answer: False
2. Current account is opened by salaried persons.
Answer: False
3. Unregulated market operates according to forces of demand and supply.
Answer: True
4. Consumer being the king of market does not have any responsibility.
Answer: False
5. Lok Adalat can rightly be described as “People’s Court”.
Answer: True

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(D) Find the odd one: (5 Marks)

1. Planning, Organising, Staffing, Writing
Answer: Writing (Others are functions of management)
2. Trekking, Wildlife Study, Horseback riding, Indoor games.
Answer: Indoor games (Others are outdoor/adventure activities often associated with tourism)
3. Primary credit co-operative society, State co-operative bank, District co-operative bank, Exchange bank.
Answer: Exchange bank (Others are part of the Co-operative credit structure)
4. B to B, B to C, A to Z, C to C
Answer: A to Z (Others are models of E-commerce)
5. Stock exchange, Foreign exchange, Bullion market, Manufactured goods market.
Answer: Manufactured goods market (Others are financial markets, while this is a commodity market)

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

1. Management

Management is a set of principles relating to the functions of planning, organizing, directing, and controlling, and the application of these principles in harnessing physical, financial, human, and informational resources efficiently and effectively to achieve organizational goals. It is the art of getting things done through people.

2. Social responsibility

Social responsibility of business implies the obligation of the management of a business enterprise to protect the interests of society. It means that while generating profit, a business must also contribute to the welfare of society and not harm the environment or community interests.

3. Concept of trusteeship

The concept of trusteeship was propounded by Mahatma Gandhi. According to this concept, businessmen should consider themselves as trustees of society. They should use their wealth for the welfare of the people. The wealthy people should not treat their wealth as their own but as a trust for the benefit of the common man.

4. Janahit yachika (Public Interest Litigation)

Janahit yachika, or Public Interest Litigation (PIL), refers to legal action initiated in a court of law for the enforcement of public interest or general public importance. Any individual or social organization can file a PIL in the High Court or Supreme Court on behalf of the aggrieved people who are unable to approach the court themselves.

5. Packaging

Packaging refers to the process of designing and producing the container or wrapper for a product. It protects the product from damage, spoilage, breakage, and leakage. Good packaging acts as a "silent salesman" and helps in the promotion and identification of the product.

6. Product

A product is anything that can be offered to a market to satisfy a want or need. It includes physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. It is the central element of the marketing mix.

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

1. Mr. Ram, an emerging entrepreneur has designed a structure of his business organisation by taking into consideration the required resources... He appointed Mr. Shyam as a manager. Mr. Ram has assigned the responsibilities such as recruitment, selection... to Mr. Shyam. Mr. Ram has also appointed Mr. Shubham to supervise the work done by the employees...

(i) Management function performed by Mr. Ram:
Mr. Ram is performing the function of Planning and Organizing. As an entrepreneur at the top level, he designs the structure and allocates resources.

(ii) Management function performed by Mr. Shyam:
Mr. Shyam is performing the function of Staffing. He deals with recruitment, selection, training, and remuneration.

(iii) Management function performed by Mr. Shubham:
Mr. Shubham is performing the function of Controlling. He supervises the work and compares it with standards to suggest remedies.

2. Mr. Amit is a businessman. He has his own factories in Pune and Nashik. He lives in Pune with his wife and 2 daughters aged 5 and 8 years.

(i) Can Mr. Amit take a life insurance policy for his wife and 2 children?
Yes, Mr. Amit can take a life insurance policy for his wife and children because he has an insurable interest in their lives.

(ii) Can Mr. Amit take a marine insurance policy for his factories?
No, Mr. Amit cannot take a marine insurance policy for his factories. Marine insurance covers risks related to marine adventures (ships/cargo). Factories are immovable properties on land.

(iii) Which type of insurance should Mr. Amit take for protecting his factories from loss due to fire?
Mr. Amit should take a Fire Insurance policy to protect his factories from loss due to fire.

3. Mr. Atharva made his payment by cheque at the same time Mr. Samarth made his payment by fund transfer:

(i) Whose payment is faster?
Mr. Samarth's payment is faster as fund transfer (electronic mode) is instantaneous compared to cheque clearance.

(ii) Whose payment is related to traditional business?
Mr. Atharva's payment (by cheque) is related to traditional business methods.

(iii) Whose payment is related to e-business?
Mr. Samarth's payment (fund transfer/digital payment) is related to e-business.

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

1. Current Account and Fixed Deposit Account

Point of Difference Current Account Fixed Deposit Account
Meaning An account opened by businessmen to conduct regular business transactions. An account where a lump sum amount is deposited for a fixed period.
Withdrawals Customers can withdraw money any number of times (frequent withdrawals allowed). Withdrawal is allowed only after the expiry of the fixed tenure.
Interest Rate Generally, no interest is paid by the bank. Higher rate of interest is paid compared to savings accounts.
Suitability Suitable for traders, businessmen, and firms. Suitable for people with surplus funds who want to earn interest.

2. Organising and Directing

Point of Difference Organising Directing
Meaning It is the process of identifying, bringing together resources, and grouping activities. It is the process of instructing, guiding, communicating, and inspiring employees.
Order It follows Planning. It follows Organising and Staffing.
Focus Focuses on dividing work and allocating resources. Focuses on initiating action and getting work done.
Resources Arranges physical and financial resources. Deals directly with human resources.

3. State Commission and National Commission

Point of Difference State Commission National Commission
Level It works at the State level. It works at the National level.
Monetary Jurisdiction Entertains complaints where the value of goods/services exceeds ₹1 Crore but does not exceed ₹10 Crores. Entertains complaints where the value exceeds ₹10 Crores.
President A person who is or has been a Judge of a High Court. A person who is or has been a Judge of the Supreme Court.
Appeal Appeals against District Forum orders are heard here. Appeals against State Commission orders are heard here.

4. E-Commerce and E-Business

Point of Difference E-Commerce E-Business
Meaning It involves buying and selling of products and services over the internet. It is a broader term involving all business activities conducted online.
Scope Narrower scope; it is a subset of E-Business. Broader scope; it includes E-Commerce plus other functions like production, inventory, etc.
Concept It is more of an extroverted concept (touching customers/suppliers). It includes both extroverted and introverted concepts (internal processes).
Transaction Limited to monetary transactions. Includes monetary as well as allied activities.

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

1. Describe any four techniques of scientific management.

Scientific management, propounded by F.W. Taylor, uses the following techniques:

  1. Work Study: It involves an organized and systematic assessment of various activities. It includes Time Study (standard time for a job), Motion Study (eliminating unnecessary movements), Fatigue Study (rest intervals), and Method Study (best way to do a job).
  2. Standardization of Tools and Equipment: Standardized working environment and methods of production help reduce spoilage and wastage of material, cost of production, and fatigue among workers. It improves quality of work.
  3. Scientific Task Setting: Taylor emphasized fixing a fair day's work. Scientific work setting prevents employees from doing work far below their capacity so that optimum utilization of the workforce is possible.
  4. Functional Organization: Taylor suggested functional foremanship where planning is separated from implementation. Eight foremen (4 for planning, 4 for execution) guide the workers, ensuring specialization.

2. Explain any four needs of consumer protection.

Consumer protection is needed for the following reasons:

  1. Need for Participation: Consumers need to be involved in decisions that affect them. Business organizations often make decisions without consulting consumer interests. Consumer protection ensures their voice is heard.
  2. Lack of Information: Consumers often lack complete and correct information about products (price, quality, composition). This can lead to exploitation. Consumer protection laws ensure transparency.
  3. Ignorance: Many consumers are ignorant about their rights and the remedies available to them. Consumer protection drives educate them to avoid exploitation by unscrupulous traders.
  4. Unorganized Consumers: Consumers are generally scattered and unorganized, while sellers are organized and powerful. Consumer protection helps unite consumers and protect them against powerful business lobbies.

3. Explain any four functions of marketing.

The key functions of marketing include:

  1. Marketing Research: It involves collecting and analyzing information regarding customer needs, preferences, and market trends. It helps in decision-making regarding what to produce and when.
  2. Buying and Assembling: It involves collecting raw materials from different sources at the right place and time for production. For agricultural goods, it involves collecting produce from various farmers.
  3. Standardization and Grading: Standardization means determining standards (size, quality, color) for the product. Grading is the process of sorting products according to these established standards. This ensures quality assurance.
  4. Product Designing and Development: This function involves designing a product that meets consumer requirements. Attractive design and utility help in gaining a competitive advantage in the market.

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

1. Controlling is the last function of management.

Justification:
  • Management process starts with Planning and ends with Controlling.
  • Planning sets the objectives and standards. Organizing, Staffing, and Directing help in executing the plan.
  • Controlling involves comparing the actual performance with the planned standards to identify deviations.
  • Since comparison can only happen after the work is done or in progress, Controlling naturally comes after all other functions. Hence, it is considered the last function of the management cycle, leading back to planning for the next cycle.

2. Entrepreneurship is the best source for self employment.

Justification:
  • Entrepreneurship involves setting up one's own business enterprise rather than seeking a job.
  • It allows an individual to earn a livelihood using their own skills, creativity, and resources.
  • Instead of being dependent on an employer for income, an entrepreneur is their own boss and has the potential for unlimited growth.
  • It not only creates employment for the entrepreneur but also generates jobs for others. Therefore, it is the most empowering source of self-employment.

3. Cash can be withdrawn from ATM at any time.

Justification:
  • ATM stands for Automated Teller Machine. It is an electronic banking outlet.
  • Unlike physical bank branches which have fixed working hours, ATMs operate 24 hours a day, 7 days a week, and 365 days a year.
  • Customers can access their bank accounts using a debit/ATM card and PIN to withdraw cash whenever needed, even on holidays or at midnight.
  • Therefore, it provides liquidity and convenience, allowing cash withdrawal at any time.

4. Consumers have many responsibilities.

Justification:
  • Rights and responsibilities go hand in hand. While consumers have rights, they must also act responsibly to avoid exploitation.
  • Consumers must be critically aware of the quality and price of goods before buying.
  • They should demand a cash memo/receipt as proof of purchase.
  • They should not be carried away by misleading advertisements and should file complaints if cheated.
  • Being an alert and responsible consumer is the first step towards consumer protection.

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

1. Explain nature of principle of management.

The nature of principles of management can be described as follows:

  1. Universal Application: These principles are applicable to all types of organizations (business, non-profit, government) and at all levels of management.
  2. General Guidelines: They serve as guidelines for action and decision-making but are not rigid laws like scientific principles. They can be modified.
  3. Formed by Practice and Experiments: These principles are evolved through deep observation, experiments, and experience of managers over the years.
  4. Flexibility: Management principles are flexible and can be adapted by managers according to the changing situation and requirements of the organization.
  5. Behavioral in Nature: Management is a group activity. These principles aim to influence human behavior to achieve group goals.
  6. Cause and Effect Relationship: They help determine the cause of a particular decision and its likely effect, aiding in better decision-making.

2. State money remittance services and retail services of postal department.

A) Money Remittance Services:

  • Electronic Money Order (EMO): A quick way to transfer money within India.
  • Instant Money Order (iMO): An instant web-based money transfer service for sums between ₹1,000 and ₹50,000.
  • International Money Transfer: Collaboration with Western Union for receiving money from abroad.

B) Retail Services:

  • Sale of Forms: Post offices sell various forms like UPSC, SSC forms, etc.
  • Third-Party Products: They sell mutual funds, insurance policies, and other financial products.
  • Bill Payment: Post offices accept payment for electricity, telephone, and water bills.
  • Passport Services: Some post offices accept passport applications.
  • Aadhaar Updation: Services for updating Aadhaar details are available at select post offices.

3. Explain social responsibilities of commercial organisation towards consumers.

The responsibilities of business towards consumers include:

  1. Good Quality Products: Business should provide quality goods and services. They should follow quality standards (ISO, ISI) and not sell inferior or harmful products.
  2. Fair Prices: Products should be offered at reasonable prices. The business should not indulge in profiteering or creating artificial scarcity to hike prices.
  3. Customer Safety: The products should be safe to use. Instructions regarding use and safety warnings must be clearly mentioned on the packaging.
  4. Honest Advertising: Advertisements should not be misleading or false. They should provide accurate information about the product's features and utility.
  5. After-Sales Service: For durable goods, providing maintenance, warranty services, and spare parts is a crucial responsibility.
  6. Consumer Grievances: There should be a proper mechanism to handle consumer complaints quickly and effectively.

Q.8. Answer the following (Any ONE): [8 Marks]

1. What is Road Transport? Explain the advantages and disadvantages of Road Transport.

Meaning: Road transport refers to the movement of people and goods on roads using vehicles like cars, trucks, buses, two-wheelers, and bullock carts. It is the most common mode of transport for short distances and provides door-to-door service.

Advantages of Road Transport:

  1. Door-to-Door Service: This is the unique advantage of road transport. It picks up goods from the warehouse and delivers them directly to the consumer's doorstep, reducing handling costs.
  2. Flexibility: Routes and timings can be easily adjusted according to individual requirements. It is not bound by rigid schedules like trains or flights.
  3. Suitable for Short Distances: It is the most economical and fastest mode for transporting goods and passengers over short distances.
  4. Less Capital Investment: The capital required for vehicles is relatively low compared to ships or airplanes. The cost of road construction is also shared by the government.
  5. Feeder to Other Modes: Road transport acts as a connecting link. It transports people/goods to and from railway stations, airports, and ports.

Disadvantages of Road Transport:

  1. Not Suitable for Long Distances: For long journeys, it is time-consuming and uncomfortable compared to railways or airways.
  2. Limited Capacity: Trucks and buses have limited carrying capacity compared to goods trains or ships. It is not suitable for bulky and heavy goods.
  3. Accidents: Road transport has a high risk of accidents due to traffic congestion, poor road conditions, and rash driving.
  4. Traffic Congestion: In cities, traffic jams cause delays and wastage of fuel and time.
  5. Pollution: It is a major contributor to air and noise pollution, affecting the environment negatively.
  6. Weather Dependency: Road transport can be disrupted by adverse weather conditions like heavy rains, floods, or landslides.

2. Explain importance of Marketing to the society and consumers.

A) Importance to Society:

  1. Increases Standard of Living: Marketing provides a wide variety of goods and services to society. By making new and better products available, it improves the quality of life and standard of living.
  2. Provides Employment: Marketing involves various functions like buying, selling, transport, warehousing, advertising, etc. This creates large-scale employment opportunities.
  3. Decreases Distribution Costs: Efficient marketing channels and logistics help in reducing the cost of distribution, which can lower prices for society.
  4. Consumer Awareness: Marketing informs society about new products and their uses through advertising, educating people and changing their habits.

B) Importance to Consumers:

  1. Promotes Product Awareness: Marketing helps consumers know about different products available in the market, their prices, and features, enabling informed buying decisions.
  2. Provides Quality Products: In a competitive market, effective marketing ensures that companies strive to offer better quality products to satisfy consumers and retain them.
  3. Variety of Products: Marketing ensures a regular supply of a wide range of goods, giving consumers choices based on their preferences and budget.
  4. Helps in Selection: Marketing provides detailed information which helps consumers compare different brands and select the best product suitable for their needs.
  5. Consumer Satisfaction: The ultimate aim of modern marketing is consumer satisfaction. Regular feedback and after-sales service ensure that consumer grievances are addressed.
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