Senior Secondary Course BUSINESS STUDIES (319)

1 Senior Secondary Course BUSINESS STUDIES (319) national INSTITUTE OF OPEN SCHOOLING(An autonomous organisation under MHRD, Govt. of India)A-24-25, Institutional Area, Sector-62, NOIDA-201309 ( )Website: , Toll Free No. 18001809393 Course CoordinatorDr. Piyush Prasadfo|k/kue~ loZ/kua iz/kkue~1 national Institute of Open SchoolingMay, 2015 (35,000 Copies)Published by the Secretary, national Institute of Open Schooling, A-24-25, Institutional Area, NH-24,Sec. 62, Noida-201309, and printed at M/s New Print India Pvt. Ltd., 8/4 B, Site-4, Sahibabad, Ghaziabad, on 60 GSM Paper with NIOS COMMITTEEProf. C. B. SharmaDr. Kuldeep AgarwalDr. Rachna BhatiaChairmanDirector (Academic)Assistant Director (Academic)NIOS, NOIDA (UP)NIOS, NOIDA (UP)NIOS, NOIDA (UP)CURRICULUM COMMITTEEDr.

2 Piyush PrasadProf R. K. GroverProf M. A. KhanAcademic OfficerProfessor in Commerce (Retd)Head, Dept. of CommerceAccountancy)50, Vaishali, Pitampuraand BUSINESS StudiesNIOS, NOIDA (UP)DelhiJamia Milia Islamia, New DelhiDr. Nawal Jaya KhuranaReader in CommerceLecturer in CommerceHead, Dept. of CommerceSchool of Management StudiesSummer Fields SchoolModern SchoolIGNOU, Maidan Garhi,Kailash Colony, New DelhiBarakhamba Road, New DelhiNew DelhiCOURSE WRITERS/REVIEWERSSh. BansalSmt. Siba YadavSmt. Alka RaniDr. Amit AgarwalLecturer (Retd.)PGT CommerceHOD CommercePGT, CommerceLecturerCommercial SeniorEast Point SchoolKMPG, BadalpurJP International SchoolGovt. Inter CollegeSecondary School,DelhiMeerutChampwat, UKDaryaganj, New DelhiDr.

3 Piyush PrasadD r. NehaAgarwalSh. Sanjeev KumarAcademic OfficerFinancial ExpertVice Principal(Accountancy)GAIL Town ShipGovt. Co-edu. SchoolNIOS, NOIDA (UP)Pata, UPPreet Vihar, DelhiCONTENT EDITORDr. Piyush PrasadSh. SeharawatSh. Sanjeev KumarDr. Neha AgarwalSmt. Alka RaniAcademic OfficerFormer D. CVice PrincipalFinancial ExpertPGT, Commerce(Accountancy)KVS, DelhiGovt. Co-edu. SchoolGAIL Town ShipJP International SchoolNIOS, NOIDA (UP)Preet Vihar, DelhiPata, UPMeerutGRAPHIC ComputersShop No. 19, DDA MarketBhera Enclave, N. Delhi - 87 Dear learnersAs the needs of the society in general, and some groups in particular, keep onchanging with time, the methods and techniques required for fulfilling thoseaspirations also have to be modified accordingly.

4 Education is an instrument ofchange. The right type of education at right time can bring about positivity in theoutlook of society, attitudinal changes to face the new/fresh challenges and thecourage to face difficult can be very effectively achieved by the curriculum renewal at regular intervalsof time. A static curriculum does not serve any purpose, as it does not cater to thecurrent needs and aspirations of the individual and this purpose only, educationists from all over the country come together atregular intervals to deliberate on the issues of changes needed and required. As anoutcome of such deliberations, the national Curriculum Framework (NCF 2005)came out, which spells out in detail the type of education desirable/needed at variouslevels of education primary, elementary, Secondary or Senior this framework and other national and societal concerns in mind, we havecurrently revised the curricula of BUSINESS STUDIES cource at Senior Secondary Level,as per the Common Core Curriculum developed by COBSE (Council of Boards ofSchool Education) and NCERT ( national Council for Educational Research andTraining) making it current and need based.

5 Textual material production is anintegral and essential part of all NIOS programmes offered through open anddistance learning system. Therefore, we have taken special care to make the learningmaterial user friendly, interesting and attractive for would like to thank all the eminent persons involved in making this materialinteresting and relevant to your needs. I hope you find it appealing and behalf of national Institute of Open Schooling, I wish you all a bright andsuccessful future.(Prof. C. B. Sharma)Chairman , NIOSC hairman s MessageChairman s MessageChairman s MessageChairman s MessageChairman s MessageDear Learner,The Academic Department at the national Institute of Open Schooling tries to bringyou new programmes every now and then in accordance with your needs BUSINESS STUDIES Course at Senior Secondary level has now been revised as perthe Common Core Curriculum developed by COBSE (Council of Boards of SchoolEducation) and NCERT ( national Council for Educational Research and Training)making it current and need national Curriculum Framework developed by the national Council forEducational Research and Training was kept as a reference point.

6 Leading expertsin the subject of the country were involved and with their active involvement, studymaterials based on the new curriculum have been updated. Old, outdatedinformation has been removed and new, relevant things have been am happy to place this new revised study material in BUSINESS STUDIES in yourhands. I hope you will find the new material that is now in your hands interestingand exciting. Any suggestions for further improvement are me wish you all a happy and successful future.(Dr. Kuldeep Agarwal)Director (Academic) national Institute of Open SchoolingA Note From the DirectorA Note From the DirectorA Note From the DirectorA Note From the DirectorA Note From the DirectorA Word With YouA Word With YouA Word With YouA Word With YouA Word With YouDear friend,I welcome you to this Course in BUSINESS STUDIES for the Senior Secondary all know the importance of BUSINESS in our everyday life.

7 It not only fulfills our basic needsbut also provides us comfort and makes our lives easier. It is a dynamic process that keeps onchanging as per the requirements and demands of the society. The procedure and practices ofbusiness in the past are completely different from modern days. It is more exposed to risk anduncertainties than what it was in past. The use of modern technology, government s policiesand the consumption pattern of the people have made the BUSINESS sensitive and globallycompetitive. Therefore, a systematic effort is required to understand, analyse and respond tothe changes that affect the functioning of BUSINESS in the present day in mind the above, the curriculum in the subject of BUSINESS STUDIES at SeniorSecondary level has been designed.

8 The whole learning material of the subject has beenpublished in the forms two books for your convience. The first book has three experiences considered essential for BUSINESS STUDIES are described in the first twomodules. The module on BUSINESS Around Us has lessons on Nature and Scope of BUSINESS ; BUSINESS Support Services; Buniess Environment and Modern Modes of BUSINESS where asthe module on Forms of BUSINESS Organisations incorporates lessons on Forms of BusinessOrganisation; Company Form of BUSINESS Organisations and Public Sector Enterprises. Thethird module on Preparing for Employment will be helpful to you when you decide to go forempolyment.

9 The objective is to make the learners aware about the world of employment sothat after gaining knowledge they can either start their own ventures or become employedsomewhere else to earn their second book has five modules having 15 lessons. For your practice, a sample questionpaper along with the question paper design and marking scheme is provided at the end of thesecond make your learning process interesting and useful we have changed the layout of thepages. You will also find some attractive icons in the lesson symbolising the content ofdifferent sections. The details are given separately under the heading How to study yourlessons.

10 Some new sections like, Do and Learn, Key Terms, Role Play am sure that you will find the lessons and their approach interesting and would be able toapply your knowledge in the real life situations. So read all the lessons of this Course carefullyand be prepared for the examination with confidence. If you face any difficulty in your STUDIES ,please feel free to write to me. Your suggestions are valuable for luck and happy Piyush PrasadAcademic OfficerCongratulation! You have accepted the challenge to be a self-learner. It means, you have to organiseyour study, learn regularly, keep up your motivation and achieve your goal. Here it is solely you, whois responsible for your learning.