Free Solved NIOS Business Studies (319) Tutor Marked Assignment (TMA). NIOS solved assignment is in English Medium. Class Senior Secondary (Class-12). Year 2020-2021. NIOS Solved Business Studies (319) assignment 2020-2021 is free.
Free NIOS Solved Business Studies (319) TMA
1.Answer any one of the following questions in about 40-60 words:-
(a) Your friend Sumit wants to start a new business. Therefore, he is interested in knowing about the business risks and their causes. Explain him the meaning and causes of business risks.
Answer: Business Risk: It is the risk of loss arising due to an uncertain events or happening in the future on which business has little or no control.
Cause of business risk:
Natural Causes: Damage of goods due to fire, flood, storm famine, etc which are beyond the control of the business.
Economic Causes: Change in fashion, Demand, competing business firms,s, etc.
Political Causes: Change in Government policy which results in business loss.
Human Causes: Inefficient management and carelessness of employees may result in loss. Workers may damage machines. They may involve in strikes, lockout, etc.
Physical and Technical Causes: Change in technology may make the machine obsolete before their expected life. Mechanical failures arise due to leakage of gas, bursting of a boiler, etc.
2.Answer any one of the following questions in about 40 to 60 words
(a) Your business partner feels that it is not important to get the business insured. Explain him the importance of insurance for business.
Answer: Every business faces variety of risk like accidental injuries to employee, Theft of goods, fire in godown etc. Insurance provides protection against losses.
Importance of Insurance:
Protection Against Risk: Insurance provides protection against various risks involved in the business.
Helps in Securing Loans: Banks and financial institutions usually insist on the insurance of goods and properties before loans can be sanctioned on their security. So insurance makes it convenient to secure loans and advances from financial institutions.
Protection Against Liabilities under various Labour Laws: Insurance gives protection to businessmen in the event of compensation payable to employees for accidents leading to fatal injury, partial injury, disablement, as well as sickness and maternity.
Pooling of Risk: Insurance helps in sharing of risk. In practice, a large number of people seek insurance by paying the premium which results in the formation of an insurance fund. This fund is used for compensating a few among them who may suffer a loss.
3. Answer any one of the following questions in about 40 to 60 words.
(a) Your father wants to start a business of his own. Which form of business organisation would you suggest to him. Explain
Answer: I will suggest him to start a Sole proprietorship business due to the following advantages.
Less Legal Formalities: The formation and operation of a sole proprietorship form of a business organisation do not involve any legal formalities. Thus, its formation is quite easy and simple.
No Sharing of Profit and Loss: The sole proprietor enjoys the profits alone. At the same time, the entire loss is also borne by him. No other person is there to share the profits and losses of the business.
Direct Motivation: In sole proprietorship form of business organisations. the entire profit of the business goes to the owner. This motivates the proprietor to work hard and run the business efficiently.
Flexibility in Operation: It is very easy to effect changes as per the requirementsof the business. The expansion or curtailment of business activities does not require many formalities as in the case of other forms of business organisation.
4. Answer any one of the following questions in about 100 to 150 words.
(a)Your cousin is tensed and exhausted most of the time due to work. So he decides to start a business of his own. Discuss the various avenues of self employment keeping in view the advantages and disadvantages of each of them.
(b) ‘Social responsibility of business means a social commitment of business towards different groups’.- Elaborate.
Answer: Every business enterprise is an integral part of society. It uses the scarce resources of society to continue and grow. Hence, it is important that no activity of the business is injurious to the long-run interests of society. However, it is observed that, in practice, there are a few socially undesirable aspects of business such as polluting the environment,non-payment of taxes, manufacturing and selling adulterated products, giving misleading advertisement, and so on. This has resulted in the development of the concept of social responsibility of business whereby the owners and managers of the business are mad conscious about the responsibilities of their business towards the community and its customers, workers, etc.
Responsibility Social responsibility of business means obligation to act in a manner which will serve the best interests of the society. Social obligation of a business is different from legal obligation legal obligation is observed because of the provisions or fear of law, but social obligations will help to take voluntary efforts on the part of business to fulfill the need of the society. By fulfilling the social obligations, business creates an environment which is conducive to its success.
5.Answer any one of the following questions in about 100 to 150 words.
(b) There are numerous threats to the security of e-commerce from the customer’s side as well as the vendor’s side. Therefore, it is must to ensure security in online transactions. Mention the steps undertaken to ensure this.
Answer: Some of the risks in online transactions are: Stealing of the Data, Default in payment, Default on delivery, etc.
Steps undertaken to ensure the safety of online transaction:
i.The identity and location of the customer may be verified at the time of registration.
ii.Seller can verify the ‘cookies’ to confirm whether the customer has correctly entered his details in the registration form. Cookies are like caller ID in Telephones that provide important information about customers to the telemarketers.
iii. Customers must shop from well-established shopping sites.
iv. Antivirus programmes should be installed from time to time.
6. Prepare any one project of the following projects given below.
(a) Priyank wants to start a small business but he is unaware of the government support available. Help him to gather necessary information by explaining him the characteristics of small business and the scope of small business. Also mention the steps taken by the government for the development of small business in India.
Answer: Small Business: It is a business that is actively managed by its owners, operating within the local area and relatively small in size.
(Reference NIOS Business Studies (319) Book.)