Beyond Academy

CHAPTER 11 INTERNATIONAL BUSINESS -I As studied earlier, Business transaction taking place within the geographical boundaries of a nation is known as domestic or national business. Business transaction taking place within the geographical boundaries of a nation is known as domestic or national business. The fundamental reason behind international business is that the countries are not SELF SUFFICIENT. (i.e., cannot produce equally well or cheaply all that they need). This may be due to various socio-economic region, geographical and political reasons, difference in climate, etc. Q. Distinguish between International Business vs. Domestic Business? Ans. Basis            Domestic Business             International Business Meaning        It refers to buying & selling of         It refers to buying and                   ...

CHAPTER 10 INTERNAL TRADE As studies earlier trade refers to buying and selling of goods and services with the objective of earning profit. On the basis of geographical location of buyers and sellers, trade can broadly be classified into two categories (i) Internal trade; and (ii) External trade. Internal trade: The trade which takes place whiten a country is called internal trade. External trade: Trade between two or more countries is called external trade. INTERNAL TRADE Buying and selling of goods and services within the boundaries of a nation are referred to as internal trade. Internal trade can be classified into two broad categories viz., (i) wholesale trade and (ii) retail trade. NOTE: Chain  Manufacturing     ->          Wholesalers       ->       Retailers Services of Wholesaler: 1) Services to Manufacturers: The major services offered by wholesalers to the produ...

CHAPTER 9 SMALL BUSINESS  There are several parameters to measure the size of business units. These include the number of persons employed in business, capital invested in business, volume of output or value of output of business and power consumed for business activities. GOVERNMENT OF INDIA HAVE DESCRIBED SMALL INDUSTRIES IS BASED ON THE INVESTMENT IN PLANT AND MACHINERY. Administrative SETUP FOR THE SMALL SCALE, AGRO AND RURAL INDUSTRIES ROLE OF SMALL BUSINESS IN INDIA The following points highlight their contribution to the socio-economic development of the country. (i) Creation of employment opportunity: Small industries in India account for 95 per cent of the industrial units in the country. They contribute almost 40 per cent of the gross industrial value added and 45 per cent of the total exports (direct and indirect exports) from India. (iii) Supply Of variety of product: Small industries in our country supply an enormous variety of products which includ...

CHAPTER 8 SOURCES OF BUSINESS FINANCE "Finance is the life blood of any business" financial needs of a business are as follows: (a) Fixed capital requirements. (b) Working Capital requirements. Q. Why is Fixed capital required for a business? Ans. Fixed capital required by a business because it is the first time capital contributed by the business man into the business. For Ex:- Land, Building, Furniture, etc. Q. Why  Working Capital required by  business? Ans. Working Capital is required by a business because it is the day to day expenses which have to paid from capital. For Ex:- Wages, Salary, Tax, etc.  Classification of Sources of Funds 1. Retained Earnings:  A portion of the net earnings may be retained in the business for use in the future. This is known as retained earnings. It is a source of internal financing or self-financing or ‘ploughing back of profits’. Merits: (i) Owned Fund: Retained earnings is a permanent source of funds...

CHAPTER 7 FORMATION OF A COMPANY We have already studied that formation of a company is lengthy process, in this chapter we will study the details of stages formation of a company. In formation of a company following stages are involved. 1. Promotion of a company. 2. Incorporation. 3. Subscription of capital. 4. Commencement of business. Q. What do you mean by Promotion of a Company? Ans. Promotion is the first stage in the formation of a company. It involves conceiving a business opportunity and taking an initiative to form a company so that practical shape can be given to exploiting the available business opportunity. Q. Who is promoter? Ans.  A promoter is said to be the one who undertakes to form a company with reference to a given project and to set it going and who takes the necessary steps to accomplish that purpose. Q. What are the function of a promoter? or What are the step of a promotion of a company? Ans. (i) Identification of business opportunity:...

CHAPTER 6 SOCIAL RESPONSIBILITIES OF BUSINESS AND BUSINESS ETHICS Main objective of business is to earn money (profit), it also have certain obligations towards society. Social responsibility of business refers to its obligation to take those decision and perform those of the objective and values of our society.  Arguments for Social Responsibility: (i) Justification for existence and growth. (ii) Long-term interest of the firm. (iii) Avoidance of government regulation. (iv) Maintenance of society. (v) Availability of resources with business. (vi) Converting problems into opportunities. (vii) Better environment for doing business. (viii) Holding business responsible for social problems.  Arguments against Social Responsibility : (i) Violation of profit maximisation objective. (ii) Burden on consumers. (iii) Lack of social skills. (iv) Lack of broad public support. Q. Business has to perform its social responsibility towards different group of society. Na...

CHAPTER 5 EMERGING MODES OF BUSINESS The manner of conducting business is referred to as the ‘mode of business,’ and, the prefix ‘emerging’ underlines the fact, that these changes are happening here and now, and, that these trends are likely to continue. Main trends that are shaping  business are: (i) digitization. (ii) outsourcing. (iii) internationalization and globalization.  e-BUSINESS  When industry and commerce are conducted using computer network can be called as e-business. It is more effective and efficient. Scope of e-Business (i) B2B Commerce : Here, both the parties involved in e-commerce transactions are business firms, and, hence the name B2B, i.e., business-to-business. [a]  Creation of utilities. [b] Delivering value requires a business to interact with a number of other business firms which may be suppliers or vendors of diverse inputs. [c] They may be a part of the channel through which a firm distributes its products to the co...