CUET Business Studies: Business StudiesNature & Significance. Free, no login required.

Amrita completed her Master's Degree in Fashion Technology from Paris. After coming back to India, she observed a shift towards formal wear in the fashion industry. To grab this opportunity, she opened a boutique in a posh area of Delhi.

She used environmental friendly method of production. To make the store run efficiently, she divided the work into small tasks so that her employees are well trained and the wastage can be reduced. Similar activities were grouped together and departments were formed.

She assigned responsibility to her sales staff in the form of clear cut targets and gave them authority to close the deal by offering a discount of 5% but the decision to give any further discount rests with her.

The departments were headed by the specialists who were appointed through placement agencies and management consultants. Levels were created in the organization and helped in establishing reporting relationship.

In the earlier period of her venture, she asked her employees to put in extra hours of work. In return, she promised to give them special incentive within one year. Her business was doing well and she honours her commitment by giving them bonus.

Amrita was a good leader. She develops plans and makes decisions in consultation with her subordinates. However, she was biased with her female employees when it comes to solving conflicts among her staff.

Read the case given below and attempt the following questions

Anukriti, a III year B.Com student is very fond of home cooked food as her mother keeps experimenting with new tastes and varieties every now and then. Although the family is well off and reputed in society, her mother feels lack of recognition and self-respect for herself. The mother daughter duo decided to go ahead with their own start up and cater to various occasions like birthday parties, office events, festivities, food for elderly and patients and so on.

They assessed the number and type of human resources required and accordingly hired the calculated man-power for help from those introduced by their domestic help and some relatives. They ensured the quality standards for hygiene in kitchen, standardized the quality of vegetables, dry fruits and other raw materials to be purchased, made sure that the orders are delivered in time.

While Anukriti's mother took care of all cooking in Kitchen, she personally observed the helpers at work. Being a commerce student, Anukriti decided to take care of finances herself. She prepared budgets in terms of quality, time, cost of material, calculated a point with no profit, no loss to ensure earning of target profits.

As per the feedback received from customers, they improvised the dishes with lesser oil, spices, sugar.

As both of them were very understanding and positive towards feedback, their business grew well. Gradually, they trained their staff in cooking, packaging, inventory management. The employees are happy and satisfied as their basic remuneration and incentives are increased.

Read the case given below and attempt the following questions

Anukriti, a III year B.Com student is very fond of home cooked food as her mother keeps experimenting with new tastes and varieties every now and then. Although the family is well off and reputed in society, her mother feels lack of recognition and self-respect for herself. The mother daughter duo decided to go ahead with their own start up and cater to various occasions like birthday parties, office events, festivities, food for elderly and patients and so on.

They assessed the number and type of human resources required and accordingly hired the calculated man-power for help from those introduced by their domestic help and some relatives. They ensured the quality standards for hygiene in kitchen, standardized the quality of vegetables, dry fruits and other raw materials to be purchased, made sure that the orders are delivered in time.

While Anukriti's mother took care of all cooking in Kitchen, she personally observed the helpers at work. Being a commerce student, Anukriti decided to take care of finances herself. She prepared budgets in terms of quality, time, cost of material, calculated a point with no profit, no loss to ensure earning of target profits.

As per the feedback received from customers, they improvised the dishes with lesser oil, spices, sugar.

As both of them were very understanding and positive towards feedback, their business grew well. Gradually, they trained their staff in cooking, packaging, inventory management. The employees are happy and satisfied as their basic remuneration and incentives are increased.