How to prepare and score Good marks in Business Studies Paper?
- Prepare a Good Timetable
- To keep your fresh so that you can concentrate on your studies, you need to have a well-balanced timetable. A minimum of 3 hours a day is more than enough to prepare well for your boards
- There might be certain topics that you don’t understand and find very boring and time-consuming. Try to set your timetable in a way that you are able to complete the harder topics first. This way, you’ll be free from tension and can freely prepare the easier chapters
- Never compromise with your health. Eat healthy food and sleep well. You should sleep for at least 8 hours daily
- Have a reference material at hand (CBSE Study material/CBSE Study Notes) – To prepare well you need to have a good reference, which you can refer to, while studying. These study materials are available on the internet and you can download them in pdf format for free. The information given in the CBSE Study Notes is accurate and precise according to CBSE’s syllabus. Toppers Notes are also a good option. These toppers’ notes are also available on the internet and are at par with the CBSE Study materials.
- Solve the CBSE Previous year question papers – After you have prepared for the examination, you should practice well. Solving the CBSE Previous years question papers is the best way that can help you know the areas where you lack and the areas where you are strong. This will help you a lot in preparing for your exams.
- Try the class 11th practice test available online – These online test series class 11th are also a good source that can help you practice well for your exams. Online test series class 11th are prepared by experts in the subject that can help you get an insight into the pattern of question paper and the kind of questions asked. You can try these class 11th practice tests once you are done with the previous year’s papers.
Here Are A Chapter-Wise List Of Important Topics In Business Studies
Foundation of Business
1: Nature and Purpose of Business
- Concept and characteristics of the business.
- Business, profession and employment – Meaning and their distinctive features.
- Objectives of business – Economic and social, the role of profit in business.
- Classification of business activities: Industry and Commerce.
- Industry – types: primary, secondary, tertiary – Meaning and subtypes.
- Commerce –the types of trades (internal, external, wholesale and retail)
- The auxiliaries to trade – banking, insurance, transportation, warehousing, communication, and advertising.
- Business risks – Meaning, nature and causes.
2: Forms of Business organizations
- Sole Proprietorship – the meaning, the features, merits, and limitations.
- Partnership – Features, types, merits, and limitations of partnership and partners, registration of a partnership firm, partnership deed. Type of partners.
- Hindu Undivided Family Business: features.
- Cooperative Societies- features, types, merits and limitations.
- Company: private and public company -features, merits, and limitations.
- Formation of a company- four stages, important document (MOA, AOA, relevances of a certificate of incorporation and certificate of commencement.
- Starting a business – Basic factors.
3: Public, Private and Global Enterprises
- Private sector and public sector enterprises.
- Forms of public sector enterprises: features, merits, and limitations of departmental undertakings, statutory corporation and Government Company.
- The changing role of public sector enterprises.
- Global enterprises, Joint ventures, Public-Private Partnership – Features
4: Business Services
- Banking: Types of bank accounts- savings, current, recurring, fixed deposit and multiple option deposit account.
- Banking services with particular reference to the issue of bank draft, banker’s cheque (pay order), RTGS (Real Time Gross Settlement) NEFT (National Electronic Funds Transfer), bank overdraft, cash credits, and e-banking.
- Insurance: principles, the concept of life, health, fire and marine insurance.
- Postal and telecom services: mail (UPC, registered post, parcel, speed post, and courier) and other services.
5: Emerging Modes of Business
- E-Business – The scope and benefits, the resources required for a successful e-business implementation, online transactions, payment mechanism, and the safety of business transactions.
- Outsourcing-concept, need and scope of BPO (business process outsourcing) and KPO (knowledge process outsourcing).
- Smart cards and ATM’s meaning and utility
6: Social Responsibility of Business and Business Ethics
- Concept of social responsibility
- Case for social responsibility
- Responsibility towards owners, investors, consumers, employees, government and community
- Environment protection and business.
Finance and Trade
7: Sources of Business Finance
- Concept of business finance
- Owner’s funds – equity shares, preference share, GDR, ADR, IDR and retained earnings.
- Borrowed funds: debentures and bonds, loans from financial institutions, loans from commercial banks, public deposits, trade credit, ICD (inter-corporate deposits).
8: Small Business
- 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.
- The schemes and agencies of the government for small scale industries: (National Small Industries Corporation) and DIC (District Industrial Center) with special regard to rural, backward and hilly areas.
9: Internal Trade
- Services rendered by a wholesaler and a retailer
- The types of retail trades – Itinerant and small scale fixed shops
- Large scale retailers – Departmental stores, and chain stores
- Concept of automatic vending machine
- Chambers of Commerce and Industry: Basic functions
- Main documents used in internal trade: Performa invoice, invoice, debit note, credit note. LR (Lorry receipt) and RR (Railway Receipt)
- Terms of Trade: COD (Cash on Delivery), FOB (Free on Board), CIF (Cost, Insurance and Freight), E&OE (Errors and Omissions Excepted)
10: International Trade
- Meaning, the difference between internal trade and external trade: Meaning and characteristics of international trade.
- Problems of international trade: Advantages and disadvantages of international trade
- Export Trade – Meaning, objective and procedure of Export Traded.
- Import Trade – Meaning, objective and procedure: Meaning and functions of import trade; purpose and procedure
- Documents involved in International Trade; documents involved in export trade, indent, letter of credit, shipping order, shipping bills, mate’s receipt, bill of lading, certificate of origin, consular invoice, documentary bill of exchange (DA/DP), specimen, importance
- World Trade Organization (WTO) meaning and objective