11th Class

Social Responsibility of Business and Business Ethies (Notes)

Social Responsibilities of Business and Business Ethics Facts that Matter

A business enterprise should do business in such a manner which fulfills the expectations of the society.
Certain things are prohibited legally like supply of adultered goods, deceptive advertisements, making false information in advertisements, exploiting workers and polluting environment.
There are certain things beyond it like providing healthy working conditions, supplying high quality goods, paying taxes honestly etc. These are called social responsibility of business which we shall discuss in this chapter.
Business ethics are also important in this context.

Meaning of Social Responsibility

Social Responsibility of business refers to its obligation to take those decisions and perform those actions which are desirable in terms of the objective and values of our society.
It refers to the obligation of business towards various social groups like employees, consumers, investors, government etc.

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Catgeory: 11th Class

Sources Of Business Finance (Notes)

Sources of Business Finance Facts that Matter

No business can be started, run or expanded without finance.
There are many sources of finance. Each source has its own merits and demerits.
Business needs to choose right source of finance to make the best use of it.

Business Finance It refers to the money required for carrying out business activities. Significance of Business Finance

Business is concerned with production and distribution of goods and services for the satisfaction of needs of society.
No business can be carried without availability of adequate funds.
As soon as a decision is taken to start a business, requirement of funds initiates.
Finance is called 'life blood of a business'.
It is very important to assess financial needs of the organization and the identification of various sources of more...

Catgeory: 11th Class

Small Business (Notes)

Small Business Facts that Matter

Businesses can be classified on the basis of size into small, medium and large scale businesses.
Small business has its own problems and they need some special help from Government to survive in the market.

Entrepreneurship Development

Entrepreneurship development is the process of improving the skills and knowledge of entrepreneurs through various training and classroom programs. The whole point of entrepreneurship development is to increase the number of entrepreneurs.
By doing this, the pace at which new businesses or ventures are made gets better. On a wider level, this makes room for employment and improves the economy of a business or country. The steps below will explain how to create an effective entrepreneurship development program and how to go about enhancing it

Startup Policy

Prime Minister Narendra Modi launched the "Start-Up more...

Catgeory: 11th Class

Internal Trade (Notes)

Internal Trade Facts that Matter

Trade refers to buying and selling of goods with a view to earning profits.
On the basis of geographical area, it may be internal trade or international trade.
Trade which takes place within the boundaries of a country is called internal or home trade.
Trade which takes place between two or more countries is called international trade. Internal Trade
It refers to buying and selling of goods and services within the geographical boundaries of the country.

Types of Internal Trade

Wholesale Trade
Retail Trade

Wholesale Trade

It refers to buying and selling of goods and services in large quantities for the purpose of resale or intermediate use.

Services of Wholesalers to Manufacturers

It helps in facilitating large-scale production.
It helps in bearing risk.
It provides financial assistance.

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Catgeory: 11th Class

International Trade-I (Notes)

International Trade - I Facts that Matter

Self-reliance was the goal of economies in the beginning of 20th century. But since the formation of WTO, countries are now getting involved in trade with each other at a very large scale.
The biggest reason behind it is the development of technology in the form of fast modes of transportation, communication, information and technology etc.
The number of firms which are engaged in international business is increasing day by day. The extent is such that we are calling the world to be "Global Village".
India is not an exception to the phenomenon. India also embarks on the path of globalisation.

Meaning of International Business

International business means carrying on business activities beyond national boundaries. These activities normally include the transaction of economic resources such as goods, capital, services (comprising technology, skilled more...

Catgeory: 11th Class

International Trade-II (Notes)

International Trade-II Facts that Matter

There is a lot of difference in selling goods locally and exporting them.
There are many formalities like export and import license, insurance, shipment bills, insurance etc. which need to be fulfilled.
Government also gives some incentives for export promotion like exemptions of taxes or duties, carrying out their import-export transactions in a less cumbersome environment.
There are many institutions at international level like IMF, World Bank, WTO etc. for the development of trade amongst nations.

Objectives of Export Trade

To sell surplus goods
To make better use of resources
To earn foreign exchange
To increase national income to generate employment
To increase government revenue
To create international cooperation.

Procedure of Export Trade The various steps involved in exporting goods are as follows:

Receipt of enquiry and sending quotations: It more...

Catgeory: 11th Class

Evolution and Fundamentals of Business (Notes)

Evolution and Fundamentals of Business Facts that Matter

People need different types of goods and services wherever they live.
Most of the businesses aim at earning money by satisfying people's demand for goods and services.
Business influences our daily life in many ways.
In 1000 AD South Asia contained an estimated 75 of the world's 267.33 million people (28.05%), and who individually generated an estimated average of 450 (1990 dollars) PPP per annum, and collectively produced 33,750 million, of the world's 121,208 million (27.84%), the largest regional contribution.
First estimation of India's national income by Dadabhai Naoroji in 1868.
In 1952, India's economy had a 3.8% share of world income.
In 2014, India's economy more...

Catgeory: 11th Class

Forms Of Business Organisation (Notes)

Forms of Business Organisation Facts that Matter

Business activities cannot be performed in isolation. They need to be given a proper form.
A business enterprise is an institutional arrangement to perform any business activity.
The most appropriate form is determined by weighing the merits and demerits of each type of organization against one's own requirement.
The revolutionary new concept of "One Person Company' (OPC) has been introduced by the Companies Act, 2013.
This concept of OPC was first recommended by the expert committee of Dr. JJ Irani in 2005

Classification

In case of corporate form of private enterprises the identity of the enterprise is a separate legal entity from that of the owner and in case of more...

Catgeory: 11th Class

Privat Public Global Enterprises (Notes)

Private, Public and Global Enterprises Facts that Matter

If we look around our neighborhood, we can find shops owned by sole proprietors or big retail organizations or partnership firms etc.
Similarly, there can be privately owned businesses or government owned organizations. There may be organizations which operate in more than one nation. These are called global enterprises.
Organizations owned by private people are a part of private sector. Organizations owned by government are included in public sector. Organizations operative in more than one nation are called global enterprises.

Private Sector and Public Sector

The private sector consists of business owned by individuals or a group of individuals.
Private sector includes sole proprietorship, partnership, Joint Hindu Family system, cooperative and company.
Public sector consists of various organizations owned and managed by the government either wholly more...

Catgeory: 11th Class

Business Serivces (Notes)

Business Services Facts that Matter

In all business activities it is either a good which is being transacted or a service which is being experienced.
Services are certainly intangible. Their purchase does not lead to creation of anything physical.
Business services mean those services which help in the successful running of a business. Business cannot be even imagined in the absence of these services. For example; banking, insurance, transport, warehousing and communication.
Digital payments are the mode of payment for online commerce.
There are too many good UPI apps available such as BHIM, SBI UPI, HDFC UPI, iMobile, Phone Pe etc.
AEPS uses your fingerprint as a password. No one can forge your fingerprints, thus it is the most secure digital payment more...

Catgeory: 11th Class

11th Class

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