business studies class 12 important case study questions chapter wise

Business Studies Class 12 Case Studies With Solutions

Here we have to provide Case Study Of Business Studies Class 12 CBSE PDF Download from BST Class 12 case studies with answers books prepared by the subject experts.

Case Study Of Business Studies Class 12 CBSE PDF

Business studies class 12 case studies with solutions, answers.

Part A & B: Principles and Functions of Management & Business Finance and Marketing

• Business Studies Class 12 Chapter 1 Case Studies
• Business Studies Class 12 Chapter 2 Case Studies
• Business Studies Class 12 Chapter 3 Case Studies
• Business Studies Class 12 Chapter 4 Case Studies
• Business Studies Class 12 Chapter 5 Case Studies
• Business Studies Class 12 Chapter 6 Case Studies
• Business Studies Class 12 Chapter 7 Case Studies
• Business Studies Class 12 Chapter 8 Case Studies
• Business Studies Class 12 Chapter 9 Case Studies
• Business Studies Class 12 Chapter 10 Case Studies
• Business Studies Class 12 Chapter 11 Case Studies
• Business Studies Class 12 Chapter 12 Case Studies

Case Studies in Business Studies Business Studies Case Studies Business Studies Commerce

Chapterwise Case Studies - Business Studies for Grade 12 - Grade 12 - Notes, Videos & Tests

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Important Questions for Business Studies Class 12

Important Questions for Class 12 Business Studies are prepared by the subject matter experts from the latest edition of CBSE books. It is recommended for the students to practice the given Class 12 Business Studies chapter wise important questions with the answers. Studying these would definitely help the students to score good marks in their upcoming board examinations.

Stay tuned to BYJU’S for more CBSE Class 12 Business Studies Important Questions, question papers, sample papers, syllabus and Commerce notifications.

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Home > CBSE Class 12 Important Questions

CBSE Important Questions for Class 12 Business Studies

CBSE Important Questions For Class 12 Business Studies

Business studies is one of the most important skills students are required to study in today’s time. This subject makes you go deeper into the world of business and how business in real life works. It not only enables them to manage their work-life successfully but also helps them to understand corporate life and culture.

At Educart, we provide our students with reliable resources so that they don’t get distracted from their journey and ace their examinations with flying colors. In the table given below, we have provided the links to downloadable PDFs of chapter-wise important questions for class 12 Business Studies and that too for different categories of marks.

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Benefits of CBSE Class 12 BST Important Questions

CBSE BST important questions for Class 12 can help students understand the exam pattern and will make the revision and preparation easy. Regular practice can significantly help in improving time management skills for exams. The syllabus for BST Class 12 is divided into two major parts: Principles & Functions of Management and Business Finance & Marketing, so the important questions of BST are provided for every chapter as per the latest syllabus.

The questions are added after keeping the latest CBSE pattern in mind and are curated by experienced SMEs. Students can understand how to answer the question for question typology and boost their exam performance.

Why You Should Download CBSE Class 12 Business Studies Important Questions?

As exams start nearing, students try to adopt the best strategy to prepare for the exams to achieve good marks. Math is one of those subjects that gives phobias mostly. To help students achieve the target, incorporating “Important Questions Practice” in the exam strategy is a vital step for many reasons.

• To have a deep understanding of topics in Class 12, understanding the topics from Class 12 will help in creating a strong base.
• These questions are curated to highlight the essential topics and principles and help students get the main idea behind that concept.
• Important questions provide extra help and work as important reference material to prepare well for exams.
• If any students want to appear for competitive exams like JEE, NEET, or any other exam, important questions will help in aligning with the exam pattern and strategy.
• You can curate a more effective study plan by shortlisting important topics.
• These questions will help you boost your confidence for the board exams.

CBSE Class 12 Important Questions will help students cover all the major topics and understand that chapter. At Educart, we have pledged to help students with the right material and help them in scoring their dream scores.

We hope that you practice the above important questions of mathematics and achieve your dream marks in it. All the best! 

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Case Study Questions for Class 12 Business Studies (BST)

• Last modified on: 1 year ago
• Reading Time: 6 Minutes

Here you will find Case Study Questions for CBSE Class 12 Business Studies (BST).

Units and Chapter List:

Unit 1 – Nature and Significance of Management, Principles of Management and Business Environment

Chapter 1: Nature and Significance of Management Case Studies Chapter 2: Principles of Management Case Studies Chapter 3: Business Environment Case Studies

Unit 2 – Planning and Organising

Chapter 4: Planning Case Studies Chapter 5: Organising Case Studies

Unit 3 – Staffing, Directing and Controlling

Chapter 6: Staffing Case Studies Chapter 7: Directing Case Studies Chapter 8: Controlling Case Studies

Unit 4 – Financial Management and Financial Market

Chapter 9: Financial Management Case Studies Chapter 10: Financial Market Case Studies

Unit 5 – Marketing and Consumer Protection

Chapter 11: Marketing Case Studies Chapter 12: Consumer Protection Case Studies

How to Tackle Business Studies Case Studies in Exams

Here’s a tip on how to approach and answer case study questions for Class 12 BST (Business Studies) exams:

1. Understand the Format:

• Case study questions are designed to test your ability to analyze and apply your knowledge to real-world situations.
• These questions are usually longer in length, but your answers should be concise and to the point.

2. Careful Reading:

• Begin by carefully reading the entire case study. Don’t rush; understand the context and details provided.
• Pay attention to any data, statistics, or specific information presented in the case.

3. Examine the Question:

• Before diving into the case study, read the question(s) associated with it. This will help you focus on what to look for while reading the case.
• Identify the key concepts or issues the question is addressing.

4. Highlight Key Information:

• While reading the case, underline or highlight important facts, figures, or statements that seem relevant to the question.
• Make notes if necessary to organize your thoughts.

5. Analyze the Situation:

• Once you have a good grasp of the case and its details, analyze the situation. Consider the cause-and-effect relationships, potential solutions, and any ethical or business principles involved.

6. Structure Your Answer:

• Start your answer with a brief introduction, summarizing the main problem or situation presented in the case.
• Organize your response logically. You can use bullet points or numbered lists for clarity.
• Present your analysis, providing relevant business theories or concepts as appropriate.
• Offer solutions or recommendations based on your analysis. Be clear and concise in your suggestions.

7. Use Simple Language:

• Write your answers in clear and simple language. Avoid unnecessary jargon or complex vocabulary.
• Ensure your answers are easy to understand for the examiner.

8. Practice with Sample Papers:

• Practice case study questions from sample papers and previous year papers to get a feel for the format and types of questions that may be asked.
• Writing practice answers will help you refine your approach.

Remember to practice, and you’ll become more proficient at tackling case study questions effectively.

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Important MCQs for CBSE Class 12 Business Studies (Chapter-wise): Download FREE PDF

Cbse class 12 business studies mcqs with answers: this article brings to you the complete list of mcqs for cbse class 12 business studies. you can find attached chapter-wise pdf download links for the mcqs of each chapter. students preparing for the cbse board examinations 2024 should go through the article to find important resources and updates related to cbse boards 2024..

MCQs for CBSE Class 12 Business Studies: In this article, students can find the complete list of MCQs for each chapter of Class 12 Business Studies. 15 MCQ-type questions from each chapter of Business Studies NCERT(Part 1 and Part 2) have been presented to you in the form of PDF download links. You can use these links to save the list of important questions and answers for future reference. We hope that this series on MCQs from each chapter of NCERT textbooks proves to be helpful for all CBSE Board Examination 2023-24 aspirants.  Find chapter-wise PDF download links to MCQs for Class 12 Business Studies. We have also covered MCQs for CBSE Class 12 Accountancy , a link to which is attached here for your reference.

• Direct chapter-based questions
• Assertion and Reasoning
• Check whether the statements are correct or not
• True and False
• Fill in the blanks
• Match the columns
• Case Studies
• Passage based questions
• Source based questions

MCQs for CBSE Class 12 Business Studies (Chapter-wise)

• Prepare every type of MCQ (types have been mentioned above for your reference)
• Read your textbook chapters carefully and understand the concepts.
• Prepares MCQs from CBSE Sample Paper 2024, Question Banks
• Take online Mock tests
• Solve previous year question papers of at least last five years
• Catch hold of minute information present in between the texts like dates, acts, regulatory bodies, definitions, terminologies used in commerce

It is important to stay updated about the syllabus and exam pattern before you sit for the annual examinations. Check the links below so that you don’t miss out on this significant information.

Jagran Josh is trying to provide you with study materials to assist you in your preparation for CBSE Board Examinations 2023-24. Stay tuned to our website Jagran Josh for any exam-related updates, and preparation resources like Sample Papers, Previous Year Papers, Revision Notes, Important MCQs, Mind Maps, and much more. We are delighted enough to provide students with whatever they require to score good marks in examinations. You can also follow us on our social media handles for all the regular updates. We wish you all the best for your upcoming Board Examinations. Also, do not forget to practice MCQs! :)

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Class 12 Business Studies Notes and Questions

Click on links below to read and download  important questions, answers and Class 12 Business Studies Notes . These important Q&As have been designed by our teachers based on the latest pattern of examinations which are held in CBSE schools. You can refer to the chapter wise concepts, important problems given below so that you can use them to prepare for your tests and get better marks in your exams

Class 12 Business Studies

The following chapter wise revision notes and important questions with solutions for class 12 Business Studies has been prepared by expert teachers for the benefit of students. These notes will help you to revise entire syllabus and will be really useful for revision just before your exams. Also refer to the questions and answers as you will understand the type of questions which can be asked in upcoming exams

Refer to the notes and questions above for class 12 Business Studies which have been prepared based on the latest syllabus and examination guidelines issued by CBSE and  NCERT .  The chapter-wise notes have been prepared to keep into consideration all the important topics that can come in the Business Studies class 12 examination and have been covered in the above concepts. Students are advised to read them and use these concepts for preparing for their Class XII exams which will help them to get better marks. Class 12th students are advised to practice Business Studies notes and worksheets on a daily basis so that this will help them to thoroughly understand all the concepts which have been taught in the NCERT book for class 12 Business Studies and will reduce the stress and burden for the exams at the end of the year. If you refer to our website for all such study material for class 12 Business Studies then for sure you will be able to get all the required resources at a single place and that too free. We have provided all the required study material for Business Studies in class 12th so that you can prepare them and also use them offline whenever you want. are expert teachers who have prepared this content keeping into consideration the requirements of all students so that you don’t have to struggle to get any further material from any other website. In case you face any challenge in understanding any of the concepts then you can send us a quick email through our contact us page so that our teachers will look into your query and resolve it immediately.

Importance of Revision Notes for Class 12 Business Studies

a) As Business Studies is a very scoring subject for class 12 therefore the students should go through the notes and its questions carefully to score better marks

b) The notes provided here have been designed in a manner that will help the Standard 12 students to revise Business Studies prior to the exams so that all important topics given in various chapters are covered and are easily revised by the students

c) Business Studies notes for grade 12 have been developed by the best teachers keeping into consideration the latest syllabus and curriculum issued by CBSE and NCERT

d) If you go through these notes, take out print outs and refer them on a daily basis then you will be able to get higher grades in Business Studies examination in 12th class

Frequently asked questions

You can get the latest and the best revision notes for class 12 Business Studies prepared for each chapter in your book from our website https://www.ncertbooksolutions.com

You have come to the right place to get these notes as on our website we have provided the best written notes for you for Business Studies and can be downloaded in a single click in PDF format

Yes the chapter wise notes which we have provided here have been designed keeping into consideration the latest syllabus which has been issued by CBSE, NCERT and KVS

On our website we have provided all short chapter wise notes which can be used on the day of the exam by the students and can also be downloaded for free for the benefit of students

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Class 12 Business studies Important Questions Chapter-Wise

• CBSE Board , Class 12th
• Last Updated On April 2, 2024

Class 12 Commerce Stream has main 3 subjects – Accounts, Business Studies, and Economics. Business Studies is a theoretical subject in which students need to study hard to score more than 90% marks on board exams. Hence, students can go through the CBSE  Class 12 Business studies Important Questions  for the proper preparations of boards. You can find the Downloadable pdf of CBSE class 12 important questions as well as sample papers, previous year question papers, and study material.

Vidya Setu Learning provides the most important questions for class 12 BST. Candidates also need to practice CBSE Class 12 Business Studies Sample Paper 2021   and  Business studies previous year question paper  to catch a good speed of solving the Final Question Paper in the main exams.

You can join  FREE CBSE Class 12 Business Studies Free Online Classes  and get ahead of your peers. VidyaSetu is the top Online Portal that gives free updates to the students regarding their examinations. To take advantage of VidyaSetu Portal, students can simply subscribe VidyaSetu Learnings YouTube Channel for  Free Business Studies Online Classes .

Business Studies Class 12 Important Questions Chapter Wise

Business studies class 12 important questions chapter-wise pdf is available below for students. This chapter-wise pdf will help students in understanding the importance of every chapter separately.

Nature and Significance of Management Important Questions for CBSE Class 12 

Meaning , Characteristics , Objectives and Importance of Management.pdf

Nature of Management_ Management as an Art, Science and Profession.pdf

Principles of Management Important Questions for CBSE Class 12

Principles of Management Important Questions for CBSE Class 12 Business Studies

Meaning, Nature and Importance of Management Principles.pdf

Fayol’s Principles of Management.pdf

FW Taylor’s Scientific Management Its Principles and Its Techniques.pdf

Business Environment Important Questions for CBSE Class 12

Business Studies Meaning, Features Importance and Dimensions of Business Environment.pdf

Impact of Changes in Government Policy on Business and Industry.pdf

Planning Important Questions for CBSE Class 12 Business Studies

Meaning Definition, Features and Importance of Planning.pdf

Limitations of Planning.pdf

Steps in Planning Process.pdf

Different Types of Plan.pdf

Organizing Important Questions for CBSE Class 12 Business Studies

Concept, Importance and Process of Organising.pdf

Formal and Informal Organisation.pdf

Staffing Important Questions for CBSE Class 12 Business Studies 

Staffing as a Part of Human Resource Management.pdf

Recruitment and Its Sources.pdf

Training, Development and Methods of Training.pdf

Meaning, Definition, Importance and Process of Staffing.pdf

Important chapters of Business Studies

You can find the Important chapters of class 12 Business Studies Part A- Principles and Functions of Management.

Part A: Principles and Functions of Management

• Nature and Significance of Management
• Principles of Management
• Business Environment
• Controlling

CBSE Class 12 Business Studies Book

CBSE prescribes  NCERT Books for Class 12 Business Studies  because it covers the entire  Class 12 Business Studies Syllabus.  Students can find the PDF Links to the Business Studies Books for Class 12 at Vidya Setu Learning for both Parts. The important Questions which come in exams are from NCERT books only.

Benefits solve CBSE class 12 business studies Important Questions?

• It helps students in understanding kind of questions can come in the business studies examination and also test their knowledge and preparation.
• Students will get aware of the marking scheme as well as the board exam paper pattern.
• Candidates can analyze their preparation for the coming exam by solving these important questions from the previous year’s question papers and then grading them.
• Candidates will also understand how to manage to complete the exam on time.

Why VidyaSetu

VidyaSetu Learnings  is the top online education portal for class 10th, 11th, and 12th students. Besides this, it also provides all the required details on every subject including arts, commerce, and arts.  Vidya Setu Learning also provided business studies class 12 important questions 2020 and for previous years .

• Free PDF Link to Download-  VidyaSetu is the leading platform for class 11th and 12th students. Furthermore, students can download the FREE PDF of the NCERT Class 12 Business Studies Important Questions 2021.
• Detailed Information – Vidyasetu provides all the updated information on its official website very effectively. Moreover, all the information is understandable, as it is taken from CBSE’s official website to give regular updates to students.
• 100% Correct and Authentic – It is very important for students to get the correct as well as authentic information for Business Studies. In addition, VidyaSetu only provides 100% accuracy to the students. Students will therefore never get any discrepancies or any mistakes on the official website. It is consequently known as the trusted and most preferred Educational platform for Online Education.
• Latest and Updated Information –Students will get the latest and updated information on VidyaSetu. In fact, based on the CBSE Curriculum or any other State Board-based information. Any change initiated by the Respective board is updated by  VidyaSetu  regularly.

Q1. How Can I Prepare for the Class 12 Business Studies Papers?

A1. There are easy Study tips to prepare for the Business Studies Paper:

• Read the NCERT Business Studies Class 12 Books
• Solve the business studies important questions
• Study Regularly for achieving the highest marks on the Boards.

Q2. Is there any negative marking in the 12th Business Studies Exam?

A3. No, students need not worry about the negative markings just complete the whole paper in the given time of 3 hours.

Q3. How was the Class 12 Business Studies 2020 Question Paper?

A4. According to many students, the Class 12 Business Studies 2020 Question Paper was very simple and easy yet a bit lengthy.

Q4. How can one answer a 6 mark question in the subject of business studies?

Ans. All questions are related to case studies in the business studies subject. One needs to have the concept clear in mind. Then, it becomes easy to answer the question.

Q5 From Google, how can one download the CBSE Question Paper 2021 for Business Studies?

Ans. One can easily download the CBSE Question Paper from the official website of CBSE which is cbse.nic.in.

The business studies class 12 Important questions mainly focus on providing important questions as well as solutions in pdf. It is student-friendly and useful for both Class 12th Exams and other Competitive Examinations. Business studies class 12 Important Questions pdf download covers chapter-wise Important questions with solutions. They can also be downloaded absolutely free of cost.

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Class 12 Business Studies Important Questions and Answers Chapter Wise BST

February 17, 2021 by Veerendra

Business Studies Class 12 Important Questions and Answers Chapter Wise Pdf 2020-2021: Here we are providing CBSE Important Extra Questions for Class 12 Business Studies Chapter Wise Pdf download of Principles and Functions of Management, Business Finance and Marketing in Hindi and English Medium. Students can get Class 12 Business Studies NCERT Solutions , Business Studies Class 12 Important Extra Questions and Answers designed by subject expert teachers.

CBSE Class 12 Business Studies Important Extra Questions and Answers Chapter Wise Pdf

Business Studies BST Class 12 Important Questions and Answers Chapter Wise Pdf Part 1 Principles and Functions of Management

• Chapter 1 Nature and Significance of Management Class 12 Important Questions
• Chapter 2 Principles of Management Class 12 Important Questions
• Chapter 3 Business Environment Class 12 Important Questions
• Chapter 4 Planning Class 12 Important Questions
• Chapter 5 Organising Class 12 Important Questions
• Chapter 6 Staffing Class 12 Important Questions
• Chapter 7 Directing Class 12 Important Questions
• Chapter 8 Controlling Class 12 Important Questions

Important Questions of Business Studies BST Class 12 Part 2 Business Finance and Marketing

• Chapter 9 Financial Management Class 12 Important Questions
• Chapter 10 Financial Markets Class 12 Important Questions
• Chapter 11 Marketing Class 12 Important Questions
• Chapter 12 Consumer Protection Class 12 Important Questions
• Chapter 13 Entrepreneurship Development Class 12 Important Questions

We hope the given CBSE Class 12 Business Studies Important Questions Chapter Wise Pdf download of Principles and Functions of Management, Business Finance and Marketing in Hindi and English Medium will help you. If you have any queries regarding NCERT Business Studies Class 12 Extra Important Questions and Answers, drop a comment below and we will get back to you at the earliest.

FAQ’s on Business Studies Class 12 Important Questions

Question 1. How to Download Business Studies Class 12 Important Questions?

Answer: Get the important questions with answers for CBSE Class 12 Business Studies Chapterwise from our page. You can get the free pdf to Download Business Studies Class 12 Important Questions from here.

Question 2. What are the best tips for the Class 12 CBSE Board Exams?

Answer: It is necessary for you to go through the model papers and previous year question papers to know Business Studies Class 12 Important Questions. You can get the Business Studies Class 12 Important Questions with answers on Learninsta.com

Question 3. How to prepare for CBSE Class 12 Business Studies exams?

Answer: The first step is to go through the Class 12 Business Studies latest syllabus. Then list out of topics you feel lagging and topics which you feel interesting and easy. After that understand the concepts in depth and prepare for the exams.

Question 4. What is the use of solving the important questions for Class 12 Business Studies?

Answer: You can know about the important questions that hold weightage in the exams. It will give them exposure to the question pattern in the exams. By solving more number of questions you will be able to rectify the mistakes.

NCERT Solutions for Class 6, 7, 8, 9, 10, 11 and 12

Business Studies MCQs for Class 12 Chapter Wise with Answers Pdf Download

December 23, 2019 by Veerendra

Business Studies MCQs for Class 12 Chapter Wise with Answers PDF Free Download is very important for students who want to score good marks in their CBSE board examination. Students who can Practice CBSE Class 12 Business Studies Multiple Choice Questions with Answers to improve your score in Board Exams.

Business Studies MCQ Questions for Class 12 with Answers Pdf Download

• Chapter 1 Nature and Significance of Management MCQ Questions
• Chapter 2 Principles of Management MCQ Questions
• Chapter 3 Business Environment MCQ Questions
• Chapter 4 Planning MCQ Questions
• Chapter 5 Organising MCQ Questions
• Chapter 6 Staffing MCQ Questions
• Chapter 7 Directing MCQ Questions
• Chapter 8 Controlling MCQ Questions
• Chapter 9 Financial Management MCQ Questions
• Chapter 10 Financial Market MCQ Questions
• Chapter 11 Marketing MCQ Questions MCQ Questions
• Chapter 12 Consumer Protection MCQ Questions

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Extra Questions for Class 12 Business Studies

Important questions for class 12 business studies.

Important Questions for Class 12 Business Studies myCBSEguide has just released question for class 12. There chapter wise latest exam questions with complete solutions are available for download in myCBSEguide   website and the app for CBSE students Business Studies is studied combines elements of accountancy, finance, marketing, organizational studies, and economics. We provide you the most important questions for class 12 business studies that will help you for good preparation for Board exams. We have taken care of every single concept given in CBSE Class 12 Business Studies syllabus  and questions are framed as per the latest marking scheme and blue print issued by CBSE. There are around 4-5 set of solved important questions from each and every chapter. The students will not miss any concept in these Test papers that are specially designed to tackle CBSE class 12 exam.

Chapter Wise Practice Test for Class 12 Business Studies

Part -I and Part – II

• Chapter 1 Nature and Significance of Management
• Chapter 2 Principles of Management
• Chapter 3 Business Environment
• Chapter 4 Planning
• Chapter 5 Organising
• Chapter 6 Staffing
• Chapter 7 Directing
• Chapter 8 Controlling
• Chapter 9 Financial Management
• Chapter 10 Financial Markets
• Chapter 11 Marketing Management
• Chapter 12 Consumer Protection

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CBSE Class 12 Important Questions for Business Studies Chapter 3: Business Environment

• Class 12 Important Question
• Business Studies
• Chapter 3: Business Environment

CBSE Class 12 Business Studies Chapter-3 Important Questions - Free PDF Download

Key Questions and Answers for CBSE Class 12 Business Studies Chapter 3 - Business Environment, produced by qualified Business Studies teachers from the most recent editions of CBSE (NCERT) books, are available for free PDF download. Join for online tutoring at Vedantu.com to improve your CBSE board test score.

Important Topics in Class 12 Business Studies Chapter 3

The main topics covered in this chapter are listed below.

Meaning of a Business Environment

Features of a Business Environment

Importance of a Business Environment

Dimensions of a Business Environment

Impact of Changes in Government Policy on Business and Industry

Related Chapters

Study Important Questions for Class 12 Business Studies Chapter 3 - Business Environment

Very Short Answer Questions (1 or 2 Marks)

1. What is Business Environment? 

Ans: Business environment refers to all the factors that are outside the control of the business enterprise but may equally affect the performance of the business. The social, political, economic, technological factors that operate outside a business forms a part of the business environment.

2. Which of the sectors was given importance after independence? 

Ans: After independence, the private sector was given more importance than the public sector. The role of the public sector slowly declined after independence and the private sector was given a leading role.

3. How have customers benefited by increased competition after liberalization and globalization? 

Ans: Globalization and liberalization had caused amplified competition in the market, which benefited the customers as they got a better quality and broader choice of goods and services while making a purchase. 

4. What do you mean by Liberalization? 

Ans: It is a reform which was introduced to remove unnecessary controls, licensing and government restrictions in an economy. It provides a greater autonomy to the business enterprises in decision-making and removes government interference.

5. How can the firms cope up with changing technological environment? 

Ans: In order to cope with the shifting technological environment a firm must remain conscious about the current changes in the technological field. Thereafter they must acclimate to such change to gain the benefit of new technology. Hence, they need to keep innovating and finding new ways so as to cope with the changing technological environment.

6. What is meant by opportunities? 

Ans Opportunity refers to the positive exterior trends that have the potential to add value to an enterprise. 

7. What do you mean by Globalization? 

Ans: Globalization is the word used to define the increasing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and data. Hence, Globalisation means to open ways for the various economies of the world to participate in the making of a global economy. 

8. Which policy of the Indian Government has moved India towards globalization? 

Ans: The Industrial Policy of 1991 . 

9. What do you mean by Innovation? 

Ans: The actions required to create new ideas, procedures or products which when executed lead to a positive effective change is known as innovation. Innovation involves the practical application of an inventive act.

10. Name the economic reforms introduced to free Indian business from unnecessary controls and restrictions. 

Ans: Liberalization under the new economic policy of 1991 was introduced to free Indian business from unnecessary controls and restrictions. 

11. What do you mean by disinvestment? 

Ans: It   means to transfer the ownership from the public sector to the private sector. It is an action taken by the government for privatization. In this the government’s stake is diluted in a public enterprise.

12. Give one measure taken by Indian Government to introduce liberalization. 

Ans: Under liberalisation, the requirement of licensing was abolished except for five industries

liquor, 

cigarette, 

defense equipment, 

industrial explosives, and 

dangerous chemicals.

Short Answer Questions (3 or 4 Marks)

13. Explain how does the understanding of business environment help the management in the following: 

A. Tapping useful resources; and

Ans: Business utilizes the resources of the external environment as inputs like finance, labour etc., and supplies its output to the environment in the form of goods and services etc. Also, understanding of the business environment helps the firm to track the useful resources available in the environment and convert them into goods and services.

B. Coping with rapid changes.

Ans: The business environment is extremely dynamic so the managers need to develop strategies not only to cope with the changes but also to use them as their strengths to improve their market shares. In order to proficiently cope with the changes, managers must understand the environment and should adopt suitable courses of action at the right time. It helps management in becoming more aware about the shifting needs of customers. As a result, they are able to respond to such changes efficiently.

14. An environmental conscious multinational company "AXN Ltd." follows certain well defined business principles that result in minimizing employee turnover. Following are some of the important environmental factors followed by 'AXN Ltd.' 

Honour  the law of every country in which it operates. 

Respect the culture and customs of all nations. 

Provide clean and safe products to enhance the quality of life throughout the world

Develop a culture in the company that enhances individual creativity and teamwork while honouring mutual trust and respect between management and labour. 

 From the above: 

i)  Identify and state any one general principle of management and any one dimension  of the business environment.

Ans:   Principle of management :  Esprit de corps . 

As the culture of the company focuses on the developing and honouring of mutual trust and respect between management and labour, this is the principle followed by the company. Another principles can be the principle of initiative and stability of personnel.

Dimension of business environment: Legal environment :

It includes all the legislations passed, administrative orders issued, court judgements or decisions taken by government or its related offices. 

As in the case, it is stated that the firm was very particular about honouring the law of each country in which it operates. Other dimensions can be social and cultural environment, ecological environment.

ii) Values being conveyed: 

Respect for law

Cleanliness and hygiene

Concern for society and employees 

15. ‘Accent Electronics Ltd.’ was operating its business in Malaysia. The company started exporting its products to India when the Prime Minister announced relaxation in import duties on electronic items. The company appointed retailers in India who had direct on-line links to the suppliers to replenish stocks when needed. 

Identify and explain the dimensions of the business environment discussed in the above case. 

Ans: The dimensions of the business environment discussed in the above case are as follows. 

Political Environment: It includes political factors such as political leadership, political stability, practices of the ruling party, policies of the government etc. For example, change in government, or unstable government.

Quotation: “ Prime Minister allowed relaxation in import duties on electronic items”

Technological Environment: It consists of forces relating to scientific improvements and innovations, which lead to better production techniques and methods to produce goods. For example, shift from books to e-books, telephones to touch screen mobile phones. 

Quotation: “The company appointed retailers in India who had direct on-line links to the suppliers to replenish stocks when needed”

16. With change in the consumption habits of people, Neelesh, who was running a sweets shop, shifted to the chocolate business. On the eve of Diwali he offered chocolates in attractive packages at reasonable prices. He anticipated huge demand and created a website chocolove.com for taking orders online. He got a lot of orders online and earned huge profit by selling chocolates. 

Identify and explain the dimensions of business environment discussed in the above case. 

Ans: The dimensions of the business environment that have been discussed here are as follows. 

Social Environment: Social environment represents the customs and traditions, values, culture, social trends, beliefs, ethics of society in which business operate. For example, religious celebrations provide business opportunities to many enterprises such as those producing sweets, decoration items, gifts etc. Similarly, in India a change in social trend towards western lifestyle has increased the demand for western wear, consumption of fast food, etc. 

Quotation: “ Change in consumption habits of people.”

Quotation: “ created a website chocolove.com for taking orders online. ”

17. Explain the role of political environment in shaping the business.? 

Ans: Political environment includes political factors such as political leadership, practices of the ruling party, policies, rules and regulations of the government, political stability  etc. 

Political stability builds confidence among the business community while political instability may bring uncertainty in business activities.

Hence the political environment holds the power to positively or negatively impact the business and its activities.

For example, if the government keeps on changing, and there is no political instability in the country, then with each change in the government, the ruling party will keep on bringing its own policies in the country, causing disruptions and losses in the activities of the business.

This is because a business functions within the framework of the political environment, and hence, when the government and its policies change, businesses are required to understand and follow such changes as well.

Factors like taxation policy and foreign trade policy affects a business in unthinkable ways. 

While on one hand, a progreesive and constructive change in these policies bring a positive change in the business, on the other hand, unstable, and unthought of changes in these policies disrupts the working and profitability of that business.

For example, after globalization, the Government of India allowed many companies to enter the Indian market to give a boost to the different industries like food processing industry etc. That paved the way for the entry of multinationals in India on a large scale. 

18. A recent rate cut in the interest on loans announced by the Banks encouraged Amit, a science student of Progressive School to take a loan from State Bank of India to experiment and develop cars to be powered by fuel produced from garbage. He developed such a car and exhibited it in the Science Fair organized by the Directorate of Education. He was awarded first prize for his invention. 

Ans: The dimensions of the business environment discussed in the above case are as follows.  

Economic Environment: I t refers to all those factors and forces that have an economic impact on the business activities. Key economic factors include inflation, money supply, price level, income level, interest rates etc. For example, increase in inflation rates result in fall in disposable incomes and as a result the demand for products falls.

Quotation: “ A recent rate cut in the interest on loans announced by the Banks ”

Quotation: “developed such a car and exhibited it in the Science Fair organized by the Directorate of Education. He was awarded first prize for his invention. ”

19.   Enumerate the benefits of understanding the business environment. 

Ans: The benefits of understanding business environment are: 

Identification of Opportunities: It enables the firm to identify opportunities and get the first mover advantage. The positive external changes provide opportunities to a business organisation to improve its performance.

Identifying Threat: It helps the firm to identify threats and provide early warning signals. Adverse changes in the external factors act as ‘threats’ to the business which hinders performance. Early identification of threats helps managers to make strategies to convert threats into opportunities.

Tapping Useful Resources: Business utilizes the resources of the external environment as inputs like finance, labour etc., and supplies its output to the environment in the form of goods and services, taxes, etc.

Coping with Rapid Changes: The business environment is extremely dynamic so the managers need to develop strategies not only to cope with the changes but also to use them as their strengths to improve their market shares.

Planning and Policy Formulation: Clear understanding and analysis of the business environment help businesses to formulate its future plans and strategies to cope with all the external changes.

Improves Performance: The continuous monitoring of the business environment and changing business practices from traditional methods help business in improving their present performance and also continue to retain its market position in the long run.

20. Business environment or Environmental Scanning helps in the identification of threats and early warning signals." Explain? 

Ans: Adverse changes in the external factors act as ‘threats’ to the business which hinders a firm’s performance. Early identification of threats helps managers to make strategies to convert threats into opportunities.

Environmental scanning helps an enterprise to recognize valuable information about the market and environment in advance, which can be used to prepare a firm for facing likely challenges. 

For example, if there is a chance of an MNC entering an Indian market, then the Indian managers of firms dealing with the similar product have to consider it as a warning signal, and an upcoming threat. In such cases, the manager will take every possible action, such as improving quality of the product, cost reduction, better customer service, etc.,  to face the probable challenge arising from the entrance of an MNC.

21. Mention four examples of acquisitions and mergers. 

Ans: Four examples of mergers and acquisitions are: 

Disney, Pixar and Marvel. 

Google and Android 

Exxon and Mobil. 

Tata and Corus Steel.

Long Answer Questions (5 or 6 Marks)

22. Metlapp Networks and Technologies Ltd. is a leader in technology innovation in the United States, creating products and solutions for connecting the world. It has a large research and development team which invented the first smartwatch, named as W-7. The watch besides showing the time also monitors a few health parameters like heart beat, blood pressure etc. While in search of markets abroad, the company found that in India, the reform process was underway with the aim of accelerating the pace of economic growth. The company decided to take advantage of simplified export procedure and removal of quantitative as well as tariff restrictions in India. 

It set up its office in Jamnagar with a view to capture the Indian market. In a short span of time, the company emerged as a market leader. Success of the company attracted many other players to enter the market. Competition resulted in reduction in prices, thereby benefiting the customers. 

(a) In the above paragraph, two major concepts related to government policy have been discussed. Identify and explain these concepts. 

Ans: The two concepts related to the government policy discussed in the question are Liberalization and Globalization. 

Liberalization: It is a reform which was introduced to remove unnecessary controls, licensing and government restrictions in an economy. It provides a greater autonomy to the business enterprises in decision-making and removes government interference.

Quotation: “take advantage of simplified export procedure and removal of quantitative as well as tariff restrictions in India. “

Globalization: Globalization is the word used to define the increasing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and data. Hence, Globalisation means to open ways for the various economies of the world to participate in the making of a global economy. 

Quotations: “Metlapp Networks and Technologies Ltd. is a leader in technology innovation in the United States, creating products and solutions for connecting the world.“ and “It set up its office in Jamnagar with a view to capture the Indian market. “

(b) Also, explain briefly any three impacts of these concepts on Indian business and industry. 

Ans: The three major impacts of these concepts on Indian business and industry were: 

Increased Competition: Liberalisation and Globalisation added ease in conducting business as well as increased the entry and participation of new firms in the industry, thereby intensifying the competition in the market. Due this increased competition, companies now focus on adding value to their products, and reduce the prices so as to attract more and more customers. Ultimately, customers get benefited by a wider choice of products, and reduced prices.

Higher Customer base: Liberalisation and Globalisation pave the way for technological changes in the environment. As with more research and development, creativity, and innovation, high-end technological products could be made available that would ultimately enlarge the customer base of the product. In the case as well, the digital watch and its high-end features helped the company in becoming the market leader by capturing a huge customer base in the Indian market.

Business policies: With the change in government policies, businesses also have to alter the way in which it performs its activities. Such positive change in policies helps the business in tapping opportunities by altering the way and methodology with which they perform business. Because, if a business would not make changes inline with changes made by the government, it could not survive in the market in the long run. As in the case, change in government policies of India was immediately implemented and taken benefit by the company, and they took actions accordingly.

23. Social environment of business is important for a business enterprise". Explain ? 

Ans: Social environment represents the customs and traditions, values, culture, social trends, beliefs, ethics of society in which business operate. 

A business exists within an external social environment, as well as its own internal social environment. A business is a part of the society in which it operates, it takes resources from the society, and provides goods and services in return.

Social environment includes factors, like taste and preferences of customers, trends in the market, consumption habits, the language and culture of people in the society etc. The management needs to have a constant and vigil check on the changes in the social environment, so as to exploit the right opportunities and to mitigate prospective threats. 

Cooperation and coordination between a firm and the society will flourish as well as add value to an enterprise, whereas failure to adopt changes of social environment will lead to the shift of customers from their firm to the other firm. This shift of consumer intensely impacts the long term growth and survival of business.

For example, with greater awareness among consumers about their rights, businesses are more concerned about the quality of goods they sell, hence they are more cautious regarding the quantity, quality and pricing of the goods.

Also, the change in consumer habits led to the inclination of consumers towards healthy products. This has created abundant opportunities for businesses to add and create products that could match the needs and preferences of the consumers.

Moreover a business conforming to social values, and ethics in business is likely to be more beneficial than a business who violates the ethics and social principles.

Therefore, we can say that a social environment is very important for a business.

24. Enumerate any ten Positive impacts of liberalization and globalization. 

Ans: The positive impacts of liberalization and globalization are as follow: 

Increased Collaborations: One characteristic of globalisation is the encouragement of entrepreneurial collaborations in order to ensure fast modernisation, development, and technical improvement.

Process simplification: Liberalisation has simplified the procedures of import and exports. Hence simplification in regards to registration, setting up of businesses, licensing was made possible. This leads to higher motivation, and the saving of time, energy and money on the part of business enterprises.

Increased competition: Increase in the number of Indian firms and entry of foreign companies has increased competition. Such increase in competition has benefited both, the firm as well as the customers.

More demanding customers : Increase in the number of enterprises gives consumers wider choice of products leading to rise in expectations and demands.

Rapidly changing technological environment: Fast changing technology requires companies to install the latest machinery, adopt latest techniques of production leading to an increase in investments in the business. Hence, LPG made the firms aware of the fact that only change could make them survive in the competitive market.

Necessity for change: With change in government policies business had to modify their policies and practices, invest in research and development, innovation etc.

Need for developing human resource: With change in technology, business enterprises need to educate and train their staff so that they are competent to handle changes, thus enhancing the quality of the labor force.

Market orientation: With increased awareness among consumers business enterprises had to shift the product oriented operations to market oriented operations.

Loss of budgetary support to the public sector: Public sector had to run in competition with the private sector. Therefore, they had to organise their own resources and functions efficiently.

Opportunities: It enables the firm to identify opportunities and get the first mover advantage. The positive external changes provide opportunities to a business organisation to improve its performance. Positive change in policies helps the business in tapping opportunities by altering the way and methodology with which they perform business. 

Inflow of foreign capital: With globalisation, work and trade has been made possible outside the national boundaries. This benefited the country in increased exports and the inflow of foreign capital.

25.   Explain any five negative impacts of liberalization and globalization. 

Ans: Following are the negative effects of liberalization and globalization. 

Threats from multinational companies (MNCs) : With the arrival of multinationals it is becoming difficult for small and medium business units to even survive. The entry of multinationals in the Indian markets act as a threat for the domestic firms. There have been instances, where the entry of new MNCs have led to the exit of domestic firms from the market.

Destabilization of protected environment: With easier entry of multinational companies, the Indian business environment is fast losing its protective shield. Even manufacturers of Maruti cars could not retain their market share and had to remodel their products and announce heavy price reductions from time to time. 

Decline in public sector: Public sector is losing markets and their capacity utilization has declined, hampering the pace of the country's technological and economic growth. 

Sellers' market turned into buyers' market: With the entry of foreign goods and services, shortage of goods, which was a boon for the sellers, has now turned into surplus. Resulting in lower revenue and profits. Buyers dominate the market, as they are free to make choices.

Tremendous redistribution of economic power and political power: Tremendous redistribution of economic power and political power leads to destabilising effects on the economy. Despite the continuing emphasis on promoting global prosperity and achieving a more “just world,” negative aspects of globalization remain evident in our globe. 

26. 'Explain 'fiscal reforms' and 'monetary reforms' as per economic change initiated by the Government of India since 1991. 

Ans: The explanations are:

Fiscal Reforms

There has been a reduction in the taxes and simplification of the structure of taxes on individual incomes since 1991. Fearing a heavy burden and complex nature of taxes, people would often evade taxes.

Reforms have also been made in taxes levied on commodities. The Goods and Services Tax which was passed in 2016 and came to effect in 2017, was expected to generate additional government revenue and prevent tax evasion.

Measures have been taken for the reduction in the fiscal deficit. 

Decrease in subsidies has also been made. 

Monetary Reforms 

Phased reduction of statutory liquidity ratio (SLR).

Private sector banks are allowed to set up new branches.

Banks have now been allowed access to the capital market for raising capital.

Permission for disinvestment (up to 49% of total equity). 

27. Explain any five ways in which managers have responded to changes in business environment. 

Ans: Following are the ways in which managers have responded to changes in business environment: 

Successful Conduct of Business: The manager can successfully conduct the business operations with the timely observance of any prospective opportunity or probable threat in the business environment. The managers can take necessary action as soon as they foresee a positive and negative change, thus leading to a successful conduct of the business operations. Hence, timely action benefits the firms and managers in unthinkable ways.

Diversification spree: To face competition, and take the most benefit of opportunities, the managers are diversifying their operations in multiple fields. Such as Reliance diversifying in sectors such as telecommunication, food, petroleum etc.

Chances for Growth: By identifying the changing situations and environment, the firm can gain support and win the confidence of the consumers and others. This support will bring more chances for growth and development of the firm. Positive change in policies helps the business in tapping opportunities by altering the way and methodology with which they perform business. 

Brand Building: Companies are aggressively spending money on brand building, and positioning their products in the minds of the consumers. Focus is on securing prime positions for their brands, through creative media-mix, in the minds of consumers. 

Labor: Managers are changing their behavior towards labor. Labourers have also benefited from the business environment, through higher wages and other facilities like training to upgrade their skills and job enrichment.

28. Briefly discuss the impact of government policy changes on the business and industry. 

Ans: The policies of liberalization, privatization and globalization by the government affect the functioning of the business enterprises. 

The following points show the impact of government policy changes on the business and industry. 

Increased Competition: Liberalisation and Globalisation added ease in conducting business as well as increased the entry and participation of new firms in the industry, thereby intensifying the competition in the market. Due this increased competition, companies focussed on adding value to their products, and reduce the prices so as to attract more and more customers. Ultimately, customers get benefited by a wider choice of products, and reduced prices.

Higher Customer base: Liberalisation and Globalisation pave the way for technological changes in the environment. As with more research and development, creativity, and innovation, high-end technological products could be made available that would ultimately enlarge the customer base of the product. 

Business policies: With the change in government policies, businesses also have to alter the way in which it performs its activities. The government policies directly impact the functioning of the business enterprises, forcing the businesses to alter their policies accordingly. A positive change in policies helps the business in tapping opportunities by altering the way and methodology with which they perform business. Because, if a business would not make changes inline with changes made by the government, it could not survive in the market in the long run. 

Technological Changes: The change in government policies has lead to free entry of new firms, thus increasing market competition. Therefore, with change in government policies, businesses had to make efforts in developing and using new technology, modifying the obsolete technology, investing in research and development, innovation etc.

Need for Trained Personnel: With change in technology, business enterprises need to educate and train their staff so that they are competent to handle changes, thus enhancing the quality of the labor force

Greater Market Orientation: The orientation has shifted to market orientation with the intense competition taking place in the market. That is, the enterprises produce and provide the goods and services as per the demand in the market. 

Less Budgetary Support Reliance by Public Sector Enterprises: Rather than depending on the budgetary support so as to cover the losses, the public enterprises needs to make efforts in improving its work performance, efficiency and productivity so as to successfully face the increased competition, and curb the losses. 

On the whole, the impact of Government policy changes particularly in respect of liberalization, privatization and globalization has been positive as the Indian business and industry has shown great resilience in dealing with the new economic policy. 

29. What is meant by ‘business environment’? Explain any three features of business environment.

Ans: Meaning

Business environment refers to all the factors that are outside the control of the business enterprise but may equally affect the performance of the business. The social, political, economic, technological factors that operate outside a business forms a part of the business environment.

Features of Business Environment

Totality of external forces: Includes every external or outside force that could impact a business organisation such as government, competitors, etc.

Specific and general forces: Specific forces are the forces which directly affect a specific business organisation. General forces are those forces which pose a direct impact on the overall industry, but pose an indirect effect on a business enterprise.

Inter-relatedness: The changes in general forces may result in changes in specific forces. For example, a change in the government (a political force) may lead to a change in tax rates, import-export rates (an economic force)

Dynamic nature: The external forces keep changing due to constant change in technology, consumer preferences, availability of different types of raw material etc.

Uncertainty: Constant changes in environment makes it difficult to predict changes in the external environment.

Complexity: The interrelated and dynamic nature of external forces makes it difficult to prepare one single strategy to handle all the changes.

Relativity: The impact of changes depends on business to business country to country region to region etc.

30. Explain the dimensions of Business Environment.

Ans: The dimensions of business environment are:

Economic Environment: It refers to all those factors and forces that have an economic impact on the business activities. Key economic factors include inflation, money supply, price level, etc. For example, increase in inflation rates result in fall in disposable incomes and as a result the demand for products falls.

Social Environment: Social environment represents the customs and traditions, values, culture, social trends, beliefs, ethics of society in which business operate. For example, with greater awareness among consumers about their rights, businesses are more concerned about the quality of goods they sell, or the change in consumer habits led to the inclination of consumers towards healthy products.

Political Environment: Political environment includes political factors such as political leadership, practices of the ruling party, policies, rules and regulations of the government, political stability etc. 

Legal Environment: It includes all the legislations passed, administrative orders issued, court judgements or decisions taken by government or its related offices. For example, all cigarette packets must carry a warning ‘smoking is injurious to health’

Technological Environment: It consists of forces relating to scientific

improvements and innovations, which lead to better production techniques and methods to produce goods. For example, shift from books to e-books, telephones to touch screen mobile phones.

Important Topics in Class 12 Business Studies

The important topics covered in Class 12 Business Studies are given below.

What is Marketing Mix?

What is the Stock Exchange?

Importance of Consumer Protection

Marketing Vs Branding

CBSE Class 12 Business Studies Chapter 3 is one of the most highly rated chapters on the curriculum. The elements impacting an establishment's performance outside of its regulation, as you have seen in this chapter, are the forces influencing its business environment. This chapter will help you understand how understanding the company environment may assist you in tapping helpful resources and dealing with quick changes. Some of the other important topics covered in this chapter are ways by which a firm copes with varying technical environments, the role of the political environment in shaping a business, how the social environment of a business is important for an enterprise, and the benefits of knowing the business environment thoroughly.

You can also find study resources like NCERT Solutions for Class 12 Business Studies , and Revision Notes on Class 12 Business Studies , on Vedantu for free. Also, you can sign up for our customised study plans and one-on-one LIVE classes during which our experts will help you clear all your doubts and get a good score in the 12th Board exam.

Conclusion  

When drawing a conclusion on CBSE Class 12 Important Questions for Business Studies Chapter 3: Business Environment, it's important to consider the key topics and concepts covered in the chapter. The chapter "Business Environment" in Business Studies explores the external factors that influence business operations and decision-making. It covers aspects such as the economic, social, political, and technological environment in which businesses operate.

The important questions provided in the CBSE Class 12 Business Studies textbook, along with their solutions, serve as a valuable resource for students to assess their knowledge and prepare for examinations. By practising these questions, students can strengthen their understanding of the chapter and improve their performance in assessments.

FAQs on CBSE Class 12 Important Questions for Business Studies Chapter 3: Business Environment

1. How many chapters are there in Class 12 Business Studies?

There are a total of 12 chapters in NCERT Class 12 Business Studies. Business Environment is the third chapter of this book. Students are advised to learn and revise all chapters thoroughly to score well in the exam.

2. What are the main features of a business environment?

The business environment means all the forces that are not in an enterprise's control but can affect its performance. Some of the features of a business environment are -

Total of external forces - It is the sum of all external forces.

Specific and general forces - It may be related to investors or general as in politics.

Dynamic nature - Ever-changing

Uncertain in nature - Due to the ever-changing nature

Complexity - Due to many factors in play

Relativity - Differs from place to place

Inter-relatedness - Elements are related to each other

3. Why is the business environment uncertain?

There are many factors that influence a business environment. One of them is its uncertain nature. The business environment can be uncertain due to many reasons such as a change in political policies, change in customer preferences of fashion or taste, technological advancements, increase in competition, etc. All these factors can change at any time and this is what makes a business environment uncertain. As these changes take place frequently and quickly, it becomes difficult to predict the future of a business environment.

4. What are the books for Class 12 Business Studies?

The two important books for CBSE Class 12 Business Studies are the textbooks published by the NCERT, i.e., Principles and Functions of Management, and Business Finance and Marketing. Students can also learn from other reference books and solve previous years’ question papers available on Vedantu for their exam preparation.

5. What was the impact of demonetization on the Indian economy?

The Government of India on Nov 8, 2016, announced that the high denomination notes of Rs. 500 and Rs. 1000 were not legal tenders anymore and were demonetized. The main impacts that demonetization had are the following -

Decrease in cash transactions

Increase In bank deposits

Increase in financial savings

Decline in private wealth since many high denomination notes were not returned

Digital transactions increased

Prices of real estate declined

Income tax collection increased due to an increase in disclosure

CBSE Class 12 Business Studies Important Questions

Cbse study materials.