Explain the rights and responsibilities of consumer?
The Consumer Protection Act provides following six rights to consumers to safeguard their interests:
1. Right to Safety: It means a consumer has a right to be protected against the marketing of such goods and services that are harmful to life and health. Thus, consumers are educated to use standardized goods, such as electrical goods with ISI mark, food products with FPO mark, etc as such goods would be an assurance of meeting quality specifications.
2. Right to be Informed: A consumer has the right to get true and complete information about the quality, quantity, price, contents, expiry date of the goods and services which he intends to buy. Therefore, the legal framework in India has made it compulsory to provide all such information on the package of the product.
3. Right to Choose: Consumers have the freedom to choose products of their choice. This implies that the marketers should offer a wide variety of products in terms of quality, brand, size, etc, so that the consumer can make a wise choice by competitive prices.
4. Right to be Heard: The consumer has a right to file a complaint and to be heard in case of dissatisfaction with a good or a service. It is because of this reason, many enlightened business firms have set-up their own consumer service and grievance cell, and help consumers in redressal of their grievances.
5. Right to Seek Redressal: This right assures justice to consumers against exploitation and includes compensation for any loss or injury suffered by the consumers, replacement of goods or repair of defects in the goods in order to provide satisfaction to consumers. Thus, the consumer has a right to get relief in case the product falls short of his expectation.
6. Right to Consumer Education: Consumer should have knowledge about the various rights and reliefs provided by the legislations to protect their interest. Every consumer has the right to be well informed about his rights, and to spread awareness and education by forming consumer organisations and associations.
Following are the responsibilities of a consumer:
What are the steps taken by management in the planning process?
Why is management considered to be a multi-dimensional concept?
Explain the procedure for selection of employees.
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.
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.
Define scientific management. State any three of its principles.
Explain the qualities of a good leader? Do the qualities alone ensure leadership success?
Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
Management is a series of continuous interrelated functions. Comment.
Sate the two objectives of financial planning.
What is a Treasury Bill?
Explain the principle of ‘Scalar Chain’ and gang plank.
Under which consumer right does a business firm set up consumer grievance cell?
Why delegation is considered essential for effective organising?
List any two indicators of growth of an organisation.
“Money Market is essentially a Market for short term funds.” Discuss.
What is the jurisdiction of cases that can be filed in a State Commission?
Mr Shantanu is a chief manager of a reputed company that manufactures garments. He called the production manager and instructed him to keep a constant and continuous check on all the activities related to his department so that everything goes as per the set plan. He also suggested him to keep a track of the performance of all the employees in the organisation so that targets are achieved effectively and efficiently.
a. Describe any two features of Controlling highlighted in the above situation.(Goal Oriented, continuous and pervasive – any 2).
b. Explain any four points of importance of Controlling.
State the objective of NSE?