Explain the following terms:
a. Liberalisation
b. Privatization
c. Globalisation
a) Liberalization
Liberalization means to liberate industry from the shackles of the licensing system. The economic reforms that were introduced were aimed at liberalizing the Indian business and industry from all unnecessary controls and restrictions. Liberalization signalled the end of the license permit quota and other restrictions that were put on the industries before 1991.
b) Privatization
Privatization means to drastically reduce the role of the public sector. It refers to transfer of ownership, management and control of the public sector to the private sector. And to achieve this government adopted disinvestment of the public sector and referred the loss making and sick enterprises to the Board of industrial and Financial Reconstruction.
c) Globalization
Globalization means to encourage foreign private participation in India’s industrial development. It refers to integration of the various economies of the world leading towards the emerging of a cohesive or interconnected global economy. It also implies reducing the restrictions on the import and export such as licensing and tariffs.
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
The government of India announced Demonetization of ₹ 500 and ₹ 1,000 currency notes with effect from the midnight of November 8, 2016. As a result, the existing ₹ 500 and ₹ 1,000 currency notes ceased to be legal tender from that date. New currency notes of the denomination of ₹ 500 and ₹ 2,000 were issued by Reserve Bank of India after the announcement.
This step resulted in a substantial increase in the awareness about and use of Point of Sale machines, e-wallets, digital cash and other modes of cashless transactions. Also, increased transparency in monetary transactions and disclosure led to a rise in government revenue in the form of tax collection.
a. Enumerate the dimensions of the business environment highlighted above.
b. State the features of Demonetization.
National Digital Library of India (NDL India) is a pilot project initiated by the HRD ministry. It works towards developing a framework of virtual repository of learning resources with a single-window search facility. It provides support to all academic levels including researchers, life-long learners and differently-abled learners free of cost. State the dimensions of business environment highlighted above.
Why it is important for business enterprises to understand their environment? Explain.
How would you argue that the success of a business enterprise is significantly influenced by its environment?
Briefly discuss the impact of Government policy changes on business and industry.
What are the essential features of:
a. Liberalisation,
b. Privatization and
c. Globalisation?
What economic changes were initiated by the Government under the Industrial Policy, 1991? What impact have these changes made on business and industry?
How does understanding of business environment help in improving performance of a business?
Give an example to show that a business firm operates within numerous inter related factors constituting the business environment.(Hint: example highlighting the inter relatedness of dimensions of business environment).
How does planning provide direction?
What is meant by staffing?
Identify the network of social relationships which arises spontaneously due to interaction at work.
What is informal communication?
State the meaning of controlling.
What is meant by capital structure?v
What is meant by management?
What is a Treasury Bill?
State any two advantages of branding to marketers of goods and services?
What makes principles of management flexible?
What is the difference between delegation and decentralization?
Explain the various types of plans used in management.
Why is recruitment an important step in staffing?
What are the steps taken by management in the planning process?
“A successful enterprise has to achieve its goals effectively and efficiently.” Explain.
State any two reasons why investing public can expect a safe and fair deal in the stock market. (Point w.r.t safety of Transactions – Functions of the Stock Exchange).
Product is a bundle of utilities. Explain.
What is the meaning of staffing?
Aval Ltd. is engaged in the business of export of canvas goods and bags. In the past, the performance of the company had been upto the expectations. In line with the latest demand in the market, the company decided to venture into leather goods for which it required specialised machinery. For this, the Finance Manager Prabhu prepared a financial blueprint of the organisation’s future operations to estimate the amount of funds required and the timings with the objective to ensure that enough funds are available at right time. He also collected the relevant data about the profit estimates in the coming years. By doing this, he wanted to be sure about the availability of funds from the internal sources of the business. For the remaining funds, he is trying to find out alternative sources from outside.
a. Identify the financial concept discussed in the above paragraph. Also, state the objectives to be achieved by the use of financial concept so identified. ( Financial Planning).
b. ‘There is no restriction on payment of dividend by a company’. Comment. ( Legal & Contractual Constraints)
What is placement and why is it significant?