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Maharashtra Board HSC Organisation of Commerce and Management (OCM) July 2024 Solved Paper

Board Question Paper Solution: July 2024 - Organisation of Commerce and Management

BOARD QUESTION PAPER: JULY 2024
ORGANISATION OF COMMERCE AND MANAGEMENT

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Q.1 (A) Select the correct options and rewrite the sentences: [5]
1. F.W.Taylor recommended total _______ foremen to control the various aspects of production.
(a) eight    (b) three    (c) two
Answer: (a) eight
2. Banks provide overdraft facility to _______ account holders.
(a) saving    (b) current    (c) fixed deposit
Answer: (b) current
3. For online transactions _______ is required.
(a) business    (b) trading    (c) registration
Answer: (c) registration
4. Business organisations should protect health and provide safety measures to _______.
(a) owners    (b) employees    (c) investors
Answer: (b) employees
5. The president of District Consumer Commission is a _______.
(a) District Judge    (b) High Court Judge    (c) Supreme Court Judge
Answer: (a) District Judge

12th OCM Board Papers (March & July 2025)

Q.1 (B) Match the correct pairs: [5]
Group 'A' Group 'B' (Correct Answer)
(a) Directing (9) It is the process of instructing, guiding, communicating and motivating.
(b) Warehousing (5) Time utility
(c) Outsourcing (10) Business Process Outsourcing (BPO)
(d) Responsibility towards investors (3) To maintain solvency and prestige
(e) Monopoly (1) Single seller

12th OCM Board Papers (March & July 2024)

Q.1 (C) Find the odd one: [5]
1. Selecting, Training, Co-ordinating, Placing.
Answer: Co-ordinating
(Reason: Others are elements of Staffing, Co-ordinating is a separate function of management.)
2. B2B, B2C, A2Z, C2C
Answer: A2Z
(Reason: Others are types of e-commerce business models.)
3. Endowment policy, Whole life policy, Money back policy, Blanket policy.
Answer: Blanket policy
(Reason: Others are types of Life Insurance, Blanket policy is a type of Fire/General Insurance.)
4. District commission, State commission, NGO, National Commission.
Answer: NGO
(Reason: Others are consumer dispute redressal forums established under the Consumer Protection Act.)
5. Primary market, Secondary market, Retail market, Terminal market.
Answer: Retail market
(Reason: Primary, Secondary and Terminal are types of Wholesale markets or related to large scale trade, whereas Retail market deals directly with consumers.)

12th OCM Board Papers (February & July 2023)

Q.1 (D) State whether the following statements are true or false: [5]
1. Co-operation is not necessary for smooth flow of organizational activities.
Answer: False
2. Businessmen are trustees of the society.
Answer: True
3. Business services are important for the growth of business.
Answer: True
4. Consumer Protection Act provides protection to the producer.
Answer: False
5. The term market is derived from Greek word 'Mercatus.'
Answer: False
(Note: It is derived from the Latin word 'Mercatus'.)

12th OCM Board Papers (2014 - 2022)

  • OCM - March 2022 English Medium: View
  • OCM - March 2022 Marathi Medium: View | Answer Key
  • OCM - July 2022 English Medium: View | Answer Key
  • OCM - March 2020 English Medium: View
  • OCM - March 2020 Marathi Medium: View | Answer Key
  • OCM - March 2019: View
  • OCM - July 2018: View
  • OCM - March 2018: View
  • OCM - July 2017: View
  • OCM - March 2017: View
  • OCM - July 2016: View
  • OCM - March 2016: View
  • OCM - July 2015: View
  • OCM - March 2015: View
  • OCM - October 2014: View
  • OCM - March 2014: View
Q.2 Explain the following terms / concepts (Any FOUR): [8]
1. Wholesale market

The market where goods are sold in large quantities to the retailers is called a wholesale market. In this market, goods are purchased directly from manufacturers by wholesalers and then sold to retailers, acting as a link between production and retail consumption.

2. Utmost good faith

This is a fundamental principle of insurance. It implies that both the insurer and the insured must disclose all material facts regarding the subject matter of insurance completely and truthfully. Hiding any material fact can render the insurance contract void.

3. Packaging and Labelling

Packaging: It refers to the designing and producing of the container or wrapper of a product. It protects the product from damage and acts as a silent salesman.
Labelling: It acts as a slip found on the product that provides detailed information about the product and the producer, such as contents, price, date of manufacturing, etc.

4. Janahit Yachika

Janahit Yachika or Public Interest Litigation (PIL) is a legal action initiated in a court of law for the enforcement of public interest or general public importance. It allows any individual or group to file a case on behalf of those whose rights are being violated but cannot approach the court themselves.

5. Principle of Scalar Chain

Scalar chain means the hierarchy of authority from the top level to the lower level for the purpose of communication. According to Henry Fayol, this chain should be followed for effective communication, though in emergencies, a 'Gang Plank' (direct communication) can be used.

6. Services

Services are intangible activities or benefits that are offered to satisfy a need or want. They are separately identifiable, essentially intangible activities that provide satisfaction of wants, and are not necessarily linked to the sale of a product or another service (e.g., Banking, Transport).

Q.3 Study the following case / situation and express your opinion (Any TWO): [6]
1. Mr. Sanjay 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. Sanjay take a life insurance policy for his wife and children?
Answer: Yes, Mr. Sanjay can take a life insurance policy for his wife and children because he has an insurable interest in their lives.
ii. Can Mr. Sanjay take a marine insurance policy for his factories?
Answer: No, Marine insurance is related to shipping and cargo. For factories located on land (Pune and Nashik), Fire Insurance or Property Insurance is appropriate, not Marine Insurance.
iii. Which type of insurance should Mr. Sanjay take for protecting his factories from loss due to fire?
Answer: Mr. Sanjay should take a Fire Insurance policy to protect his factories from loss due to fire.
2. Mr. Jay purchases some gift articles online from www.flipkart.com. At the same time Sheetal purchased gifts from e-bay.com.
i. Which website is related to C2C?
Answer: www.e-bay.com is related to C2C (Consumer to Consumer) as it allows consumers to sell to other consumers.
ii. Which website is related to B2C?
Answer: www.flipkart.com is related to B2C (Business to Consumer) as the business sells directly to the consumer.
iii. Which first step Mr. Jay should follow while doing online transaction?
Answer: The first step Mr. Jay should follow is "Registration". He needs to register/login to the website to make a purchase.
3. Yashwant Co. Ltd. is providing facilities for their female staff like day care centre for kids and work from home facility. Even management takes their suggestions while taking the decisions though they are members of trade union.
i. By doing this they are following social responsibilities towards which interest groups?
Answer: They are following social responsibilities towards "Employees".
ii. What values are they presenting?
Answer: They are presenting values of gender equality, employee welfare, and participative management.
iii. What kind of responsibilities employer follows in above case?
Answer: The employer is following responsibilities such as providing good working conditions, fair treatment, job security, and recognizing trade union rights.
Q.4 Distinguish between the following (Any THREE): [12]
1. State Commission and National Commission
Point State Commission National Commission
Area of Jurisdiction It covers a particular State. It covers the entire country (India).
Monetary Jurisdiction Entertains complaints where the value of goods/services exceeds ₹1 Crore but does not exceed ₹10 Crores. Entertains complaints where the value of goods/services 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 Appeal against its order lies with the National Commission. Appeal against its order lies with the Supreme Court.
2. Central Bank and Commercial Bank
Point Central Bank Commercial Bank
Function It is the apex bank regulating the banking system. It accepts deposits and grants loans to the public.
Note Issue It has the monopoly power to issue currency notes. It cannot issue currency notes.
Objective Public welfare and economic stability. To earn profit.
Ownership Owned and controlled by the Government. Can be owned by the government or private sector.
3. Organising and Staffing
Point Organising Staffing
Meaning It is the process of defining and grouping activities and establishing authority relationships. It is the process of recruiting, selecting, placing, and training employees.
Objective To identify and bring together resources. To appoint the right person for the right job.
Resource Relates to all resources (men, money, material). Relates primarily to Human Resources.
Order It follows Planning. It generally follows Organising.
4. BPO and KPO
Point BPO (Business Process Outsourcing) KPO (Knowledge Process Outsourcing)
Meaning Outsourcing of non-primary business activities and functions. Outsourcing of knowledge-intensive business processes.
Focus Focuses on process expertise. Focuses on knowledge expertise.
Skill Requirement Requires basic process knowledge and communication skills. Requires specialized knowledge and high-level skills.
Complexity Less complex processes. Highly complex processes.
Q.5 Answer in brief (Any TWO): [8]
1. Explain any four significance of marketing to the society.

Marketing is significant to society in the following ways:

  1. Increases Standard of Living: Marketing provides a wide variety of goods and services, helping people to improve their quality of life.
  2. Provides Employment: It creates job opportunities in distribution, advertising, sales, and logistics.
  3. Decreases Distribution Costs: Efficient marketing channels reduce the cost of distribution, making products cheaper for consumers.
  4. Consumer Awareness: Marketing informs and educates consumers about new products, their usage, and benefits.
2. Explain any four rights of consumers.

The Consumer Protection Act grants the following rights:

  1. Right to Safety: The right to be protected against the marketing of goods which are hazardous to life and property.
  2. Right to Information: The right to be informed about the quality, quantity, potency, purity, standard, and price of goods.
  3. Right to Choose: The right to be assured, wherever possible, access to a variety of goods and services at competitive prices.
  4. Right to be Heard: The right to be heard and to be assured that consumer's interests will receive due consideration at appropriate forums.
3. Explain any four responsibilities of business towards government.

Business responsibilities towards the government include:

  1. Timely Payment of Taxes: Businesses must pay taxes (GST, Income Tax) honestly and on time.
  2. Observing Rules and Regulations: They must strictly follow the laws of the land regarding licensing, environment, and labor.
  3. Earning Foreign Exchange: Businesses should aim to export goods to earn valuable foreign exchange for the country.
  4. Political Stability: Businesses should not support anti-government activities or corrupt political practices.
Q.6 Justify the following statements (Any TWO): [8]
1. Principle of equity is important.

Justification:

  • According to Henry Fayol, the principle of equity implies that managers should be fair as well as friendly to the subordinates.
  • There should be no discrimination between employees based on caste, religion, or gender.
  • Equal treatment ensures loyalty and devotion among employees.
  • It helps in maintaining cordial relations between management and workers, leading to higher efficiency.
2. The Consumer Protection Act was passed in the interest of consumers.

Justification:

  • Consumers are often unorganized and exploited by unfair trade practices like adulteration, black marketing, and misleading advertisements.
  • The Act was passed to protect the rights of consumers and provide a speedy mechanism for the redressal of their grievances.
  • It establishes a three-tier quasi-judicial machinery (District, State, National commissions) to provide simple and inexpensive justice.
  • Therefore, it is rightly said that the Act acts as a safeguard for consumer interests.
3. Market is 'a place where businessmen transact.'

Justification:

  • The term 'Market' is derived from the Latin word 'Mercatus' which means 'to trade' or 'a place where business is transacted'.
  • In a general sense, a market is a specific place where buyers and sellers meet to exchange goods and services.
  • It facilitates the transfer of ownership of goods for money or money's worth.
  • Therefore, conceptually, a market acts as the location or mechanism for business transactions.
4. Air transport is the fastest mode of transport.

Justification:

  • Air transport utilizes aircraft to move passengers and cargo over long distances in the shortest possible time.
  • It has no physical barriers like roads or mountains to slow it down.
  • It is particularly essential for emergency services and transporting perishable goods quickly.
  • Compared to Road, Rail, or Water transport, the speed of Air transport is significantly higher, making it the fastest mode.
Q.7 Attempt the following (Any TWO): [10]
1. Explain importance of marketing to the consumers.

Marketing is important to consumers because:

  1. Promotes Product Awareness: Marketing helps consumers know about different products and services available in the market.
  2. Provides Quality Products: Competitive marketing ensures that businesses strive to offer better quality products to satisfy consumers.
  3. Variety of Products: Marketing brings goods from all over the world to the local market, offering consumers a wide choice.
  4. Price Stability: Effective marketing helps in balancing demand and supply, which contributes to price stability.
  5. Regular Supply of Goods: Efficient distribution channels ensure that consumers get goods when and where they want them.
2. Explain any five functions of entrepreneur.

An entrepreneur performs the following key functions:

  1. Innovation: An entrepreneur introduces new combinations of means of production, new products, or new markets.
  2. Determination of Objectives: He/she determines the primary and secondary objectives of the enterprise.
  3. Development of Market: The entrepreneur studies the market environment and finds ways to market the products effectively.
  4. New Technology: He/she adopts new technology to improve production processes and reduce costs.
  5. Good Relations: An entrepreneur must maintain healthy relations with employees, suppliers, and customers for smooth business operations.
3. Explain principles of scientific management.

F.W. Taylor proposed the following principles of Scientific Management:

  1. Science, Not Rule of Thumb: Decisions should be based on scientific analysis and facts, not on trial and error or personal judgment.
  2. Harmony, Not Discord: There should be complete harmony between management and workers; conflict should be replaced by cooperation.
  3. Mental Revolution: Both management and workers should change their attitude towards each other and work towards a common goal.
  4. Cooperation, Not Individualism: Emphasis should be on teamwork and mutual trust rather than individual competition.
  5. Development of Employees: Workers should be trained and developed to their greatest efficiency and prosperity.
Q.8 What is Warehousing? Explain its types.
OR
Define planning and explain the importance of planning. [8]
Option 1: What is Warehousing? Explain its types.

Meaning: Warehousing refers to the storage of goods and consists of all those activities which are connected with the storage and preserving of goods. It creates time utility by bridging the gap between production and consumption.

Types of Warehouses:

  1. Private Warehouses: Owned and operated by big manufacturers and merchants to fulfill their own storage needs.
  2. Public Warehouses: Specialized business establishments that provide storage facilities to the general public for a certain charge. They work under a license from the government.
  3. Bonded Warehouses: Licensed by the government to accept imported goods for storage until the payment of customs duty. The goods are under the control of customs authorities.
  4. Duty Paid Warehouses: Where imported goods are stored after the payment of duty but before they are transported to the market.
  5. Government Warehouses: Owned, managed, and controlled by Central or State governments or public corporations (e.g., FCI, CWC).
  6. Co-operative Warehouses: Owned and managed by co-operative societies for the benefit of their members (e.g., farmers).
  7. Cold Storage Warehouses: Provide facilities for perishable commodities like fruits, vegetables, and dairy products.
Option 2: Define planning and explain the importance of planning.

Definition: According to Koontz and O'Donnell, "Planning is deciding in advance what to do, how to do it, when to do it, and who is to do it. Planning bridges the gap from where we are and where we want to go."

Importance of Planning:

  1. Helps to set clear objectives: Planning is concerned with setting objectives, targets, and goals. It helps the organization to clearly define what needs to be achieved.
  2. Provides path of action: It ensures that the goals or objectives are clearly stated. It acts as a guide for deciding what action should be taken and in which direction.
  3. Planning improves performance: It helps managers to improve future performances of employees by establishing objectives and selecting a course of action.
  4. Minimizes the risk: Planning is based on forecasting techniques. It looks into the future and anticipates changes, helping to deal with risks and uncertainties.
  5. Planning leads to optimum utilization of resources: It helps in proper allocation of resources (physical and financial) and reduces wastage.
  6. Helps in decision making: There are various alternatives available to achieve goals. Planning helps management to select the best alternative.
  7. Facilitates Control: Planning sets standards of performance. Actual performance is compared with standards, and deviations are corrected. Thus, planning is the basis of control.
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