BCOC-132 TERM END EXAM PAPER 2022- DECEMBER SOLVED

 

BCOC-132 TERM END EXAM PAPER 2022- DECEMBER SOLVED

Q-1

-National Skill Development Corporation (NSDC)

The NSDC was established as part of the National Skill Development Mission of MSDE, operating as a public-private

partnership company. Its primary aim is to facilitate the skill landscape in India, focusing on three pillars:

Create:- Facilitating the establishment of quality vocational training programs.

Fund:-Providing Financial support in the form of grants and quality funding.

Enable:-Ensuring the sustainability of support systems required for skill development, including industry-operated Sector Skill Councils (SSCs).

Vision of NSDC:
To fulfill the growing need in India for skilled manpower and bridge the existing gap between the demand and supply of skills.

Mission:
- Upgrade skills to international standards. - Enhance support and coordination.
- Play the role of a market maker.

Startup India and Incubators

Startup India:-
A government program aimed at building a favorable ecosystem for the growth of startup businesses, promoting sustainable economic growth, and generating employment opportunities.

Action Plan of Startup India:
- Simplification of regulations and landholding.
- Providing funding support and incentives.
- Fostering industry-academia partnerships and incubation.

Incubators:

Organizations that support startup companies to accelerate their growth and success.

These entities provide mentorship, resources, and networking opportunities to startups, aiding them in overcoming challenges and achieving success more quickly.

In summary, initiatives like NSDC and Startup India, along with the concept of incubators, are instrumental in fostering entrepreneurship, innovation, and skill development, contributing significantly to India's economic growth and development.

Q -2

CLASSIFICATIONS OF PARTNERS
1. BASED ON THE EXTENT OF PARTICIPATION

• Active partner(working partner)
• Sleeping partner :-if the partner is not actively associated with the working of the partnership firm

2. BASED ON THE PROFIT SHARING

• NOMINAL PARTNER:- is someone who is officially recognized as a partner in partnership but has invested little or no capital and is not actively involved in day -to day operations or management of the business, they may have nominal or symbolic role ,often for legal or formal purposes without significant contribution to the business

• Partner in profit:- a partner who share the profit of the business without being liable for losses

  3. BASED ON THE BEHAVIOUR AND CONDUCT EXHIBITED:-

  PARTNER BY ESTOPPEL:- a person who behave in the public in a such a fashion as to give an

impression that he is one of the partners in partnership firm

PARTNER BY HOLDING OUT:-when an individual represent themselves either intentionally or unintentionally as partner in a business

4. BASED ON LIABILITIES:-
• LIMITED PARTNER:- the liability of such partner

limited to the extant of capital contributed by him

• GENERAL PARTNER(UNLIMITED PARTNER):- his liability is unlimited he is entitled to participate in the management of the business

Q -3
(a)
Public Enterprise

A public enterprise refers to a business or organization owned, operated, and controlled by the government or a government agency. These entities are established to provide essential services or promote public welfare rather than solely for proHit. Public enterprises can operate in various sectors such as transportation, utilities, healthcare, and more. They play a vital role in the economy by fulfilling public needs and objectives.

Schemes of Public Sector Enterprises

1. Maharatna Scheme: This classification or status is granted by Public Sector Undertakings (PSUs) based on their financial performance, market capitalization, and other criteria. It aims to recognize and empower PSUs with exceptional performance and potential.

2. Navaratna Scheme: Another classification system for PSUs in India, initiated by the government of India. This scheme was

introduced to identify and empower a select group of nine PSUs to enhance their efficiency, competitiveness, and global reach. These companies are expected to be leaders in their respective sectors.

3. Miniratna Scheme: Launched in 1997 by the government of India, the Miniratna Scheme provides increased autonomy and financial power to Central Public Sector Enterprises (CPSEs) with the goal of enhancing their efficiency and competitiveness. This scheme aims to empower smaller CPSEs to perform better and contribute more effectively to the economy.

(b)

FEATURES AND OBJECTIVES OF PUBLIC ENTERPRISES FEATURES:

1. Owned and managed by the GVTc or gvt agencies

2. Capital mainly provided by the GVT

3. Can be organized as a departmental undertaking, statutory

   corporation or GVT company

4. Governed by public policies, focused on public interest

   rather then solely driven by profit

5. Objectives are aligned with development plans

OBJECTIVES:-

1. Achieve rapid economic development through industrial growth in line with development plans

2. Ensure public welfare and reduce inequalities in income and wealth distribution

3. Optimize resource utilization for economic growth

4. Promote balanced regional development in industry and

   trade

5. prevent the growth of economic power concentration in private hands

6. Control prices of essential goods to prevent public hardship

7.Provide favorable employment conditions, acting as model employers.

Q-4

PROCESS OF MOTIVATION:
The process involves behavior, motives, goals and feedback

1. Behavior:- activities driven by desire to achieve goals

2. Motives(Needs/Driven/ Wants):- primary energize of

   behavior, subjective and cognitive variables

3. Goals:- ends that provide satisfaction , restoring balance

   when attained

4. Feedback:- continues interaction and adjustment based on

   outcomes

Herzberg’s Motivation Hygiene Theory:-

Herzberg's Motivation-Hygiene Theory, also known as the Two-Factor Theory, suggests that there are two distinct sets of factors that influence employee satisfaction and motivation.

Maintenance Factors (Hygienic Factors):-

- These factors are necessary to prevent dissatisfaction among employees.

- Examples include wages, working conditions, company policies, and job security.

- While important for maintaining a baseline level of satisfaction, they are not strong motivators and do not lead to increased job satisfaction or productivity when improved.

Motivational Factors (Satisfiers):

These factors are related to the content of the work itself and are essential for building strong motivation and job satisfaction.

- Examples include recognition, achievement, responsibility, advancement opportunities, and the nature of the work itself.

- Addressing these factors can lead to increased employee motivation, job satisfaction, and ultimately, higher productivity.

Application:-

- Organizations should focus on satisfying motivators rather than solely addressing maintenance factors.

- By providing opportunities for recognition, meaningful work, advancement, and personal growth, employers can increase employee motivation and job satisfaction.

- Herzberg's theory suggests that enhancing motivational factors leads to a more engaged and productive workforce, ultimately benefiting both the organization and its employees.

Q-5

Leadership Effectiveness:-

Leadership effectiveness refers to the ability of a leader to achieve organizational goals and objectives while also fostering a positive work environment and developing the potential of their team members. Different leadership styles can impact effectiveness in various ways.

The Managerial Grid:-

The Managerial Grid, developed by Robert R. Blake and Jane S. Mouton, identifies five basic leadership styles based on two dimensions: concern for people and concern for production.

1. Impoverished Management:-

- Characterized by minimum concern for both people and production.

- Leaders with this style often exert little effort in either direction, leading to low motivation and productivity among team members.

2. Task Management:-

- In this style, there is maximum concern for production but minimal concern for people.

- Leaders focus heavily on achieving tasks and meeting goals, often at the expense of employee morale and satisfaction.

3. Country Club Management:-

- This style reflects maximum concern for people but minimal concern for production.

- Leaders prioritize creating a supportive and harmonious work environment, but may struggle to drive performance and achieve organizational objectives.

4. Middle-of-the-Road Management:-

- Characterized by a moderate concern for both people and production.

- Leaders aim to strike a balance between meeting the needs of their team members and achieving organizational goals, but may not excel in either aspect.

- In this style, there is maximum concern for both people and production.

- Leaders prioritize building strong relationships with their team members while also focusing on achieving high levels of performance and productivity.

**Conclusion:**

Effective leadership requires finding the right balance between concern for people and concern for production. While each leadership style has its strengths and weaknesses, leaders who adopt a team management approach tend to be the most effective in driving both employee engagement and organizational success.

Q-6

Principles of Planning:

Planning is a fundamental aspect of management that guides decision-making and goal-setting within an organization. Here are eight key principles of planning:

1. Top Management Interest:

- Leaders should demonstrate genuine interest in planning and inspire their teams to do the same. Their involvement and commitment are essential for effective planning processes.

2. Long-Range View:

Decisions should consider the long-term effects after thorough analysis and objective consideration of available facts. Planning should not be limited to short-term gains but should also focus on sustainable growth and success.

3. Contribution to Objectives:

- Planning should purposefully contribute to organizational objectives. Every plan and decision should align with the overarching goals of the organization to ensure coherence and effectiveness.

4. Primacy of Planning:

- Planning is the foundational function from which all other managerial functions flow. It precedes and guides other activities such as organizing, leading, and controlling.

5. Flexibility:-

- Adaptive plans help organizations cope with unforeseen changes without abandoning predetermined plans. Flexibility allows for adjustments and revisions as circumstances evolve, ensuring resilience and responsiveness.

6. Navigating Change: - Regular monitoring of external events combined with plan review and revision is crucial for goal achievement. Organizations must be agile and responsive to changes in the external environment to stay competitive and achieve success.

7. Commitment:- Planning should cover the necessary time period to fulfill commitments made in decisions. It is essential to allocate resources and efforts consistently to achieve desired outcomes.

8. Addressing Limiting Factors:- Managers must address limiting factors hindering the smooth progress towards

achieving objectives. Identifying and overcoming obstacles is essential for effective planning and implementation.

“Planning is the process of setting future objectives and deciding on the ways and means of achieving them , Policies guideline for decision- making and action “

Q-7
Managerial Functions:-

1. Planning:-
- Setting human resource goals, formulating policies, and

preparing budgets.

2. Organizing:
- Structuring and arranging resources to achieve

organizational objectives.

3. Directing:-
- Guiding and supervising employees to accomplish tasks

effectively.

4. Controlling:-
- Monitoring performance and taking corrective actions to

ensure goals are met.

Operative Functions:

1. Procurement Functions:
- Activities related to acquiring human resources for the

organization.

2. Human Resource Planning:
- Assessing current and future human resource needs.

3. Job Analysis:

- Studying and documenting the responsibilities and requirements of a job.

4. Job Design:
- Creating or redesigning jobs to maximize efficiency and

productivity.

5. Recruitment:
- Attracting potential candidates to Hill job vacancies.

6. Interviewing:
- Assessing candidates' suitability for a job through

interviews.

7. Selection:
- Choosing the best candidate for a job based on

qualifications and suitability.

8. Hiring and Socializing:
- Bringing new employees into the organization and helping

them adapt to the company culture.

Development Function:

1. Training and Development:
- Enhancing employees' skills to meet current and future job

requirements.

2. Career Development:
- Managing employees' work experiences to meet long-term

individual and organizational needs.

3. Management Development:
- Providing systematic training and growth opportunities for

managerial roles.
4. Performance Appraisal and Management:

- Assessing and guiding employee performance to improve productivity and effectiveness.

Compensating Functions:

1. Job Evaluation:
- Determining the relative worth of a job within the

organization.

2. Wage and Salary Administration:
- Developing and managing suitable pay programs for

employees.

3. Bonus and Incentives:
- Providing additional rewards to employees based on

performance.

Integration Functions:

1. Motivating Employees:
- Encouraging employees to perform their best.

2. Boosting Employee Morale:
- Creating a positive work environment to increase

satisfaction and productivity.

3. Collective Bargaining:
- Negotiating with employee representatives on wages, hours,

and working conditions.

4. Worker's Participation in Management:
- Involving employees in decision-making processes.

5. Redressing Employee Grievances:
- Addressing and resolving complaints or concerns raised by

employees.

6. Handling Disciplinary Cases:
- Enforcing disciplinary actions when necessary.

7. Counseling Employees:
- Providing support and guidance to employees facing

personal or work-related issues.

8. Improving Quality of Work Life:
- Enhancing the overall experience of employees in the

workplace.

Maintenance Functions:

1. Ensuring Good Working Climate:
- Creating a positive and supportive atmosphere for

employees.

2. Employee Welfare Activities:
- Providing beneHits and services to enhance employees' well-

being.

Separation Functions:

1. Out Processing:
- Managing the departure of employees from the

organization.

2. Exit Interview:
- Conducting interviews with departing employees to gather

feedback.

3. Retirement BeneHits:
- Providing beneHits to employees retiring from the

organization.

4. Rehire Consideration:
- Assessing the potential rehire of former employees

Advisory Functions:

- Advising top management on personnel policies, procedures, human relations, and employee-related matters to support organizational objectives.

Q-8 (a)

Economic Activity: 1. Definition:

- Economic activity involves the production, distribution, and consumption of goods and services within an economy. It includes all actions and transactions that contribute to the overall economic output of a region or country.

2. Examples:
- Manufacturing products, selling goods in stores, providing

services like healthcare or transportation, and any other activities where money is exchanged for goods or services.

Non-Economic Activity: 1. Definition:

- Non-economic activities do not involve the production, distribution, or consumption of goods and services for monetary gain. These activities do not directly contribute to the economy.

2. Examples:
- Charitable activities such as volunteering at a food bank,

household chores like cooking and cleaning, and voluntary skill- building activities like taking a free online course.

In summary, economic activities contribute to the economy by involving the exchange of goods and services for money, while non-economic activities are those that don't involve monetary transactions and don't directly contribute to economic output.

(c)

DIFFRENCE AMONG CREATIVE, INVENTION, INNOVATION

CREATIVITY INVENTION INNOVATION

The ability to think imaginatively and come up with original ideas	The act of creating s new product, process or system that did not exist before	The process of introducing new ideas, methods or products that leads to positive change or improvement
Example:- A graphic designer creating unique and visually appealing logo	Example:- the development of a groundbreaking smartphone with new features	Example:- A company implementing a new, more efficient workflow system to increase p

Q-9
(c )
"Made in India" is a term used to signify that a product or its parts were manufactured or produced within the borders of India. When a product bears this label, it indicates that the entire manufacturing process, from raw materials to finished product assembly, took place within the country.

This label holds significance beyond just indicating the place of production. It is often used as a marketing tool to promote and support locally made goods. By purchasing products labeled "Made in India," consumers contribute to the growth of the domestic economy by supporting local industries and businesses.

Furthermore, the "Made in India" label can serve as a source of national pride and identity. It highlights the country's manufacturing capabilities and showcases its potential to

produce high-quality goods. Emphasizing the origin of the product not only strengthens the local economy but also fosters a sense of community and solidarity among consumers.

In recent years, there has been a growing emphasis on promoting domestic manufacturing and reducing reliance on imported goods. The "Made in India" initiative aims to encourage the production and consumption of locally made products, thereby reducing dependence on foreign imports and boosting self-reliance in key industries.

Overall, the "Made in India" label symbolizes the commitment to support local industries, contribute to economic growth, and showcase the nation's manufacturing prowess on a global scale.

(b)
Lease financing is a contractual arrangement where one party grants another party the right to use an asset in exchange for regular payments. There are two main types of leases: finance lease and operating lease.

Types of Lease:-

1. Finance Lease:-
- Ownership Transfer:-The lessor transfers the risks and

rewards of ownership to the lessee.
- Non-Cancellable: Typically involves a non-cancellable

primary period.
- Maintenance:-The lessee is responsible for the maintenance

of the asset.
- Investment:- The lessor's investment is recovered through

lease rentals.

2. Operating Lease:-
- Ownership:- Risks and rewards of ownership remain with

the lessor.

- Term:- Shorter term compared to the economic life of the asset.

- Termination:-Lessee can terminate with little penalty.
- Maintenance:- Less responsibility for the lessee.
- Service Aspects:-Often involves additional services from the

lessor.

Advantages of Lease Financing:-
- Provides regular income for the lessor.
- Offers tax beneHits as ownership is not transferred.
- Provides a profitable and cost-efficient financing option. - Allows for growth potential during economic downturns. - Enables the lessor to recover their investment.

Disadvantages of Lease Financing:-
- May be unprofitable during periods of inflation.
- Lessors may face double taxation.
- Risks of asset damages or loss for the lessor.
- Lessees are obligated to make compulsory payments.
- Ownership of the asset is not transferred to the lessee.

Lease Hinancing offers both lessors and lessees various beneHits and challenges, making it essential for both parties to carefully evaluate the terms and implications of lease agreements before entering into them.