Description

SESSION	JULY-AUGUST 2024
PROGRAM	BACHELOR OF COMMERCE (B.COM)
SEMESTER	I
COURSE CODE & NAME	DCM1104 BUSINESS ORGANISATION

 

 

Set – 1

 

1. Compare sole proprietor and partnership forms of organization. Also, write a note on suitability of partnership form of organization.

Ans 1.

Comparison Between Sole Proprietorship and Partnership Forms of Organization

Definition and Structure

A sole proprietorship is the simplest form of business organization, owned and managed by a single individual. It requires minimal formalities and legal procedures to set up and operate. A partnership, on the other hand, is a business jointly owned by two or more individuals who share profits, losses, and management responsibilities according to a partnership agreement.

Ownership and Control

In a sole proprietorship, the owner has complete control over all business operations and decisions. This direct control allows for quick decision-making but can become overwhelming

 

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2. Discuss the incentives given by the government to small scale business in India.

Ans 2.

Introduction to Small Scale Businesses

Small scale businesses (SSBs) play a vital role in India’s economy by contributing to employment, regional development, and export earnings. Recognizing their importance, the Indian government provides various incentives to promote and sustain these enterprises, ensuring their growth and competitiveness in a dynamic market.

Financial Incentives

The government offers financial assistance to SSBs through schemes like the Credit Guarantee

 

3. Elaborate the essential factors an entrepreneur must evaluate before selecting a business opportunity.

Ans 3.

Understanding the Market Demand

One of the most critical factors for any entrepreneur is assessing the market demand for a product or service. Understanding consumer needs, preferences, and purchasing behaviors helps identify whether there is sufficient demand to sustain the business. Conducting market research, analyzing industry trends, and identifying target customer segments are essential steps in this evaluation process. Without adequate demand, even the best business idea is

 

 

Set – 2

                  

4. Explain the rights of consumer as per the Consumer Protection Act.

Ans 4.

Rights of Consumers as per the Consumer Protection Act

Right to Safety

The Consumer Protection Act grants consumers the right to safety, ensuring that the goods and services they purchase are free from hazards and defects. Manufacturers and service providers are required to adhere to safety standards and provide products that do not pose risks to consumers’ health or well-being. This right emphasizes the need for quality control and compliance with legal safety norms.

Right to Be Informed

Consumers have the right to access accurate and complete information about the products and

 

 

5. Critically analyze the role of Multinational Corporations in economic development of home and host country.

Ans 5.            

Multinational corporations (MNCs) are enterprises that operate in multiple countries, with a centralized headquarters typically located in the home country and operational units spread across host nations. MNCs are significant drivers of globalization, facilitating economic integration and influencing development trajectories in both home and host countries. While their contributions are multifaceted, they also raise questions regarding equity, sovereignty, and sustainability.

Role in Economic Development of Host Country

MNCs often play a transformative role in the economic development of host countries,

 

 

6. Write short notes on the following:
7. All India Manufacturers’ Organization
8. Horizontal Business Combinations

Ans 6.

1. All India Manufacturers’ Organization

The All India Manufacturers’ Organization (AIMO) is a leading trade and industry association in India, established in 1941 to represent the interests of small, medium, and large-scale manufacturing units across the country. AIMO plays a pivotal role in fostering industrial growth and advocating for policy reforms that support the manufacturing sector. It provides a platform for manufacturers to voice their concerns and engage with policymakers on issues