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.
a. Dimensions of business environment highlighted in the above case are:
1. Economic environment: Demonetization is highlighting the economic dimension as it happens due to change in the system that is because of changes made by the government in economic policies. That is RBI (Reserve Bank India) which is the regulator of economic development.
2. Political environment: It highlights the political dimension as the government involved in the above case because the government of india announced Demonetization of RS 500 and RS 100 currency notes with effect from the midnight of November 8, 2016.
3. Technological environment: It also highlights technological dimensions. As a result of the above case it increases the awareness and knowledge of technology among the citizens of India by introducing point sale machines, e-wallets, digital cash and other modes of online cashless payment.
b. Features of demonetization are:
1. Measure of tax administration: Demonetization is viewed as a tax administration measure. Because the cash holders with black money had to declare their unaccounted wealth and pay taxes at a penalty rate at the time of exchange of currency.
2. Measure to avoid tax evasion: Government indicating that tax evasion will no longer be tolerated or accepted.
3. Demonetization also led to tax administration channelizing savings into the formal financial system. As most of the cash has been deposited in the bank and is bound to be withdrawn. So new deposits schemes offered by the banks will continue to provide a base loan, at lower interest rate.
4) Create a cashless economy: Another feature of demonetization is to create a cashless or cash-lite economy by channeling more savings through the formal financial system and reducing tax evasion.
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
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).
State the impact of demonetization on interest rates, private wealth and real estate.
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?
Explain the principle of 'Subordination of Individual Interest to General Interest'.
Distinguish between the product concept and production concept of marketing.
‘Bhasin’ limited was engaged in the business of food processing and selling its products under a popular brand. Lately the business was expanding due to good quality and reasonable prices. Also with more people working the market for processed food was increasing. New players were also coming to cash in on the new trend. In order to keep its market share in the short run the company directed its existing workforce to work overtime. But this resulted in many problems. Due to increased pressure of work the efficiency of the workers declined. Sometimes the subordinates had to work for more than one superior resulting in declining efficiency. The divisions that were previously working on one product were also made to work on two or more products. This resulted in a lot of overlapping and wastage. The workers were becoming indisciplined. The spirit of teamwork, which had characterized the company, previously was beginning to wane. Workers were feeling cheated and initiative was declining. The quality of the products was beginning to decline and market share was on the verge of decrease. Actually the company had implemented changes without creating the required infrastructure.
a. Identify the Principles of Management (out of 14 given by Henry Fayol) that were being violated by the company.
b. Explain these principles in brief.
c. What steps should the company management take in relation to the above principles to restore the company to its past glory?
The workers always try to show their inability when any new work is given to them. They are always unwilling to take up any kind of work. Due to sudden rise in demand a firm wants to meet excess orders. The supervisor is finding it difficult to cope up with the situation. State the element of directing that can help the supervisor in handling the problem.
Why are rules considered to be plans?
Critically analyze Fayol's 14 Principles of Management and their application in contemporary organizations.
Enlist the advantages of packaging of consumer products.
Explain the importance of organizing in business management.
Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6 trailer coaches and is expected to save about 21,000 liters of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.
What is marketing mix? What are its main elements? Explain.