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Important Questions and Answers for CBSE Class 12 Business Studies

Experts in the field have compiled Important Questions for Class 12 Business Studies based on the most recent NCERT book editions. It is advised that students practice the crucial questions of each chapter in Class 12 Business Studies along with the solutions. Examining them will undoubtedly aid students in achieving high scores on their forthcoming board exams.

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

Most Important Questions and Answers for Class 12 Business Studies

  1. What does marketing do to business?

The role of marketing in business has been important in gaining customers and realizing sales. It entails an analysis of needs and wants of consumers, the development of products and services based on the latter, as well as their effective promotion to the target markets. Businesses, therefore, develop brand awareness, ensure customer loyalty, and finally increase revenue from understanding the principles of marketing.

  1. What is SWOT analysis?

These are some of the technique strategy formulations, and SWOT helps the business organization to identify its Strengths, Weaknesses, Opportunities, and Threats. Such SWOT analysis guides an organization in devising strategies aimed at reaping most from its strengths and at reducing its weaknesses as much as possible.

  1. How does globalization affect business?

Globalization had its own varieties of effect on the business landscape, with the introduction of newer avenues of trade and investment across borders. Businesses can reach today any customer in the world or source their material and labour from any country across the world. On the other side, globalization brings challenges like increased competition, cultural differences, and regulatory complexities. Any business in a globalized economy would have to be agile enough for the ever-evolving market conditions and will have to keep a constant lookout for newer ways of leveraging the emerging opportunities.

  1. What are the kinds of business organizations?

Proprietorship, partnership, and corporation. A sole proprietorship is an organization that belongs to one person only. It’s the simplest kind of business to establish. A partnership is a business which is owned by two or more persons. In relation to this, partners will also usually share the business profits and losses. Lastly, a corporation is a legal entity unto itself. That is to say it is a self-contained unit independent of the individuals owning the same. As such, the corporation will have its rights and liabilities.

  1. What do you mean by financial management?

The process of financial management involves such plans, organizations, controls, and monitoring that must be considered with the financial resources of a business organization. It may vary from budgeting confinements to financial analysis or investment decisions which ensure optimum performance of the business financially.

How To Prepare Effectively Using Important questions?

Important questions will help you to have your preparation maximized for the exam. How? Here are a few ways you can do it:

  • Feel the Concept: Firstly, internalize all the concepts and theories before trying to solve the important questions.
  • Practice on a Routine Basis: It should be done regularly so that one becomes used to the pattern of the examination and builds up a sense of confidence.
  • Practice Revision: Repeated revisions of the answers to the important questions build up the understanding and memory.
  • Seek Clarification: In case of doubt or uncertainty, one should not show any hesitation to contact a teacher or peer member.