.
Answer
any one of the following questions in about 40-60 words :
a)
What
is a bonded warehouse?
Ans:Bonded warehouse: A warehouse licensed to keep imported goods
awaiting clearance because of non-payment of custom duties is called a bonded
warehouse. These warehouses are maintained by port trust and custom authorities.
These warehouses are situated near the port. The bonded warehouses are used by
the importers in the following cases when:
·
he
does not has his own godown,
·
he
may not be able to pay custom duties immediately,
·
he
wants to re-export the imported goods for entrepot trade.
2.
Answer
any one of the following questions in about 40-60 words:
b)
Explain
any two elements of delegation.
Ans: Elements of Delegation
i.
Authority - in context of a business organization, authority can be
defined as the power and right of a person to use and allocate the resources
efficiently, to take decisions and to give orders so as to achieve the
organizational objectives. Authority must be well- defined. All people who have
the authority should know what is the scope of their authority is and they
shouldn’t misutilize it. Authority is the right to give commands, orders and
get the things done. The top level management has greatest authority. Authority
always flows from top to bottom. It explains how a superior gets work done from
his subordinate by clearly explaining what is expected of him and how he should
go about it. Authority should be accompanied with an equal amount of
responsibility. Delegating the authority to someone else doesn’t imply escaping
from accountability. Accountability still rest with the person having the
utmost authority.
ii.
Responsibility - is the duty of the person
to complete the task assigned to him. A person who is given the responsibility
should ensure that he accomplishes the tasks assigned to him. If the tasks for
which he was held responsible are not completed, then he should not give
explanations or excuses. Responsibility without adequate authority leads to
discontent and dissatisfaction among the person. Responsibility flows from
bottom to top. The middle level and lower level management holds more
responsibility. The person held responsible for a job is answerable for it. If he
performs the tasks assigned as expected, he is bound for praises. While if he
doesn’t accomplish tasks assigned as expected, then also he is answerable for
that.
3.
Answer
any one of the following questions in about 40-60 words:
a)
Explain
any four points for the importance of marketing.
Ans: Importance of marketing:
Marketing helps business to
keep pace with the changing tastes, fashions, preferences of the customers. It works
out primarily because ascertaining consumer needs and wants is a regular
phenomenon and improvement in existing products and introduction of new product
keeps on taking place. Marketing thus, contributes to providing better products
and services to the consumers and improve their standard of living.
(b) Marketing helps in making products available at all places and
throughout the year. We are able to get Kashmir shawls and Assam Tea all over
India and get seasonal fruits like apple and oranges round the year due to
proper warehousing or proper packaging. Thus, marketing creates time and place
utilities.
(c) Marketing plays an important role in the development of the
economy. Various functions and sub-functions of marketing like advertising,
personal selling, packaging, transportation, etc. generate employment for a
large number of people, and accelerate growth of business.
(d) Marketing helps the business in increasing its sales volume,
generating revenue and ensuring its success in the long run
4.
Answer
any one of the following questions in about 80-100 words:
a)
Explain
any four types of co-operative societies.
Ans: TYPES OF CO-OPERATIVE
SOCIETIES:
i.
Consumer’s Co-operative Societies: These societies are formed to protect the interest of general
consumers by making consumer goods available at a reasonable price. They
purchase goods directly from the producers, this eliminate the middlemen in the
process of distribution. Kendriya Bhandar, Apana Bazar and Super Bazar are
examples of consumers’ co-operative societies.
ii.
Producers Co-operative Societies: These societies are formed to protect the interest of producers
who are basically small in size, by making available items of their needs for
production like raw materials, tools and equipments and machinery, etc.
Handloom societies like APPCO, Bayanika, Haryana Handloom, etc., are examples
of producers’ co-operative societies.
iii.
Marketing Cooperative Societies:
These are cooperatives societies of small producers and manufactures who find
it difficult to sell their products individually. These societies collect the
products from the individual members and takes the responsibility of selling
those products in the market. Gujarat Co-operative Milk Marketing Federation
that sells AMUL milk products is an example of marketing co-operative society.
iv.
Cooperative Group Housing Societies: These are residential societies which are formed to provide
residential houses to members. They purchase land and construct houses or flats
and allot the same to members.
5.
Answer
any one of the following questions in about 80-100 words:
d)
Explain
any four administrative functions of an office.
Ans: ADMINISTRATIVE FUNCTIONS OF OFFICE:
Management functions: Various functions of management are also
applicable to the management of a office functions. Office work has to be
planned, organised and executed according to the plan. Control is exercised to
ensure efficiency of operations in the office. Staffing, directing,
communicating, co-ordinating, motivating are also important for the management
of offices.
(b) Instituting office systems and routines: An office has to
develop systems and procedures for providing better services to other
departments. Each phase of office work is carefully analysed and a proper
procedure is developed for it. Proper sequencing of different tasks is
necessary to ensure continuous flow of work.
(c) Procuring stationery and supplies: Adequate supply of office
stationery of proper quality is necessary for the efficient performance of
office work. The office purchases standard quality paper, pens, ink and other
stationery items, maintains the stock and issues them only on demand.
(d) Designing and control of office forms: Use of standardised
forms simplifies office operations. It is the responsibility of the office to
design, standardise, provide and contro the forms to be used in the office as
well as in other departments of the enterprise.
6.
Answer
any one of the following questions in about 150-200 words:
a)
Describe
any six qualities that a person should possess to be a successful entrepreneur.
Ans: Six qualities for successful entrepreneur:
Initiative: An entrepreneur must have an innovative aptitude, pick
the right opportunity, and initiate action. If he/she does not initiate action
at the right time the opportunity may be lost. Hence, the ability of an
entrepreneur to take initiative is the key to the success of the venture to a
great extent.
(b) Wide Knowledge: An entrepreneur should have wide knowledge of
the economic and non-economic environment of business like the market, consumer
attitudes, technology, etc. In the absence of such adequate knowledge, the
decisions taken by him may be poor and will not contribute to the profitability
of his business in the long run.
(c) Willingness to assume risk: Entering any venture is full of
risks and uncertainties. In order to deal with various kinds of risks and
uncertainties efficiently, the entrepreneur should have willingness and
necessary foresightedness to assume risks. The quantity and quality of risk
taking would determine the quality of business decisions.
(d) Open mind and optimistic outlook: An entrepreneur should have
an open mind. He/she must possess a dynamic and optimistic outlook so as to
predict changes in the business environment and respond effectively without
delay.
(e) Adaptability: The entrepreneur must understand the ground
realities of the business environment. He/she should be prepared to adapt to
the changes taking place in the system. Any resistance to change and delay in
responding thereto, shall lead to losing the opportunity of taking advantage
thereof.
(f) Self-confidence: For achieving success in life, one should have
confidence in himself/herself. A person who lacks confidence can neither do any
work himself/herself nor inspire others to work. Self-confidence is reflected
in courage, enthusiasm and the ability to lead.
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