The courses in Business Studies and Accountancy are introduced at + 2 stage of Senior Secondary Education as formal commerce education is provided after first ten years of schooling. Therefore, it becomes necessary that instructions in these subjects are given in such a manner that students have a good understanding of the principles and practices bearing in business (trade and industry) as well as their relationship with the society.
Business is a dynamic process that brings together technology, natural resources and human initiative in a constantly changing global environment. To understand the framework in which a business operates, a detailed study of the organisation and management of business processes and its interaction with the environment is required.
Globalisation has changed the way organizations transact their business.
Information Technology is becoming a part of business operations in more and more organisations. Computerised systems are fast replacing other systems. E-business and other related concepts are picking up fast which need to be emphasized in the curriculum.
The course in Business Studies prepares students to analyse, manage, evaluate and respond to changes which affect business. It provides a way of looking at and interacting with the business environment. It recognizes the fact that business influences and is influenced by social, political, legal and economic forces.
Objectives:
• To inculcate business attitude and develop skills among students to pursue higher education, world of work including self employment.
• To develop students with an understanding of the processes of business and its environment;
• To acquaint students with the dynamic nature and inter-dependent aspects of business;
• To develop an interest in the theory and practice of business, trade and industry;
• To familiarize students with theoretical foundations of the process of organizing and managing the operations of a business firm;
• To help students appreciate the economic and social significance of business activity and the social cost and benefits arising there from;
• To acquaint students with the practice of managing the operations and resources of business;
• To enable students to act more effectively and responsibly as consumers, employers, employees and citizens;
COURSE STRUCTURE :
Units Title Marks
Part – A: Foundations of Business
Unit 1: Nature and Purpose of Business 16
Unit 2: Forms of Business Organisations
Unit 3: Public, Private and Global Enterprises 14
Unit 4: Business Services
Unit 5: Emerging Modes of Business
Unit 6: Social Responsibility of Business and 10
Business Ethics
Part B : Finance and Trade
Unit 7: Sources of Business Finance 20
Unit 8: Small Business
Unit 9: Internal Trade 20
Unit 10: International Business
Part A: Foundation of Business
Concept includes meaning and features
Unit 1: Evolution and Fundamentals of Business
• History of Trade and Commerce in India: Indigenous Banking System, Rise of Intermediaries, Transport, Trading Communities: Merchant Corporations, Major Trade Centres, Major Imports and Exports, Position of Indian Sub-Continent in the World Economy.
• Business – meaning and characteristics
• Business, profession and employment- Concept
• Objectives of business
• Classification of business activities - Industry and Commerce
• Industry-types: primary, secondary, tertiary Meaning and subgroups
• Commerce-trade: (types-internal, external; wholesale and retail) and auxiliaries to trade; (banking, insurance, transportation, warehousing, communication, and advertising) – meaning
• Business risk-Concept
Unit 2: Forms of Business organizations :
• Sole Proprietorship-Concept, merits and limitations.
• Partnership-Concept, types, merits and limitation of partnership, registration of a partnership firm, partnership deed. Types of partners.
• Hindu Undivided Family Business: Concept
• Cooperative Societies-Concept, merits, and limitations.
• Company - Concept, merits and limitations; Types: Private, Public and One Person Company – Concept
• Formation of company - stages, important documents to be used in formation of a company.
• Choice of form of business organization
Unit 3: Public, Private and Multinational Company
• Public sector and private sector enterprises – Concept
• Forms of public sector enterprises: Departmental Undertakings, Statutory Corporations and Government Company.
• Global Enterprises – Feature. Public private partnership – concept
Unit 4: Business Services
• Business services – meaning and types. Banking: Types of bank accounts - savings, current, recurring, fixed deposit and multiple option deposit account.
• Banking services with particular reference to Bank Draft, Bank Overdraft, Cash credit. E-Banking meaning, Types of digital payments.
• Insurance – Principles. Types – life, health, fire and marine insurance – concept.
• Postal Service - Mail, Registered Post, Parcel, Speed Post, Courier - meaning.
Unit 5: Emerging Modes of Business
• E - business: concept, scope and benefits.
Unit 6: Social Responsibility of Business and Business Ethics
• Concept of social responsibility
• Case of social responsibility
• Responsibility towards owners, investors, consumers, employees, government and community.
• Role of business in environment protection.
• Business Ethics - Concept and Elements
Part B: Finance and Trade
Unit 7: Sources of Business Finance
• Concept of business finance
• Owners’ funds- equity shares, preferences share, retained earnings, Global Depository receipt (GDR), American Depository Receipt (ADR) and International Depository Receipt (IDR) – concept.
• Borrowed funds: debentures and bonds, loan from financial institution and commercial banks, public deposits, trade credit, Inter Corporate Deposits (ICD).
Unit 8: Small Business and Enterprises
• Entrepreneurship Development (ED): Concept, Characteristics and Need. Process of Entrepreneurship Development: Start-up India Scheme, ways to fund start-up. Intellectual Property Rights and Entrepreneurship
• Small scale enterprise as defined by MSMED Act 2006 (Micro, Small and Medium Enterprise Development Act)
• Role of small business in India with special reference to rural areas
• Government schemes and agencies for small scale industries: National Small Industries Corporation (NSIC) and District Industrial Centre (DIC) with special reference to rural, backward areas.
Unit 9: Internal Trade
• Internal trade - meaning and types services rendered by a wholesaler and a retailer
• Types of retail-trade-Itinerant and small scale fixed shops retailers
• Large scale retailers-Departmental stores, chain stores – concept
• GST (Goods and Services Tax): Concept and key-features
Unit 10: International Trade
• International trade: concept and benefits
• Export trade – Meaning and procedure
• Import Trade - Meaning and procedure
• Documents involved in International Trade; indent, letter of credit, shipping order, shipping bills, mate’s receipt (DA/DP)
• World Trade Organization (WTO) meaning and objectives.