Our Business Studies Notes
Part A – Principles and Functions of Management
Part B – Business Finance and Marketing
Business Studies (CUET)
Business Studies is an important subject that helps students understand the working of business organizations and management. It provides knowledge about planning, organizing, staffing, directing, and controlling business activities. The subject also develops decision-making, leadership, and analytical skills in students. Business Studies plays a vital role in preparing students for careers in management, entrepreneurship, and commerce, making it highly relevant for CUET aspirants.
📌 FAQs Related to CUET (Common University Entrance Test)
1. What is CUET?
CUET (Common University Entrance Test) is a national-level entrance exam conducted for admission into undergraduate programs in central, state, and other participating universities in India.
2. Who conducts CUET?
CUET is conducted by the National Testing Agency (NTA).
3. Who can apply for CUET?
Students who have passed or are appearing in Class 12 from a recognized board are eligible to apply for CUET.
4. What courses are offered through CUET?
CUET is used for admission to courses like B.Com, BBA, BA, B.Sc, and other undergraduate programs.
5. What is the exam pattern of CUET?
CUET consists of multiple-choice questions (MCQs) and includes sections such as Language, Domain Subjects, and a General Test (depending on the course).
6. Is CUET compulsory for all universities?
CUET is compulsory for Central Universities, while many state, private, and deemed universities also accept CUET scores.
7. Is there negative marking in CUET?
Yes, 1 mark is deducted for every incorrect answer.
Business Environment refers to the external forces, factors, and institutions that are beyond the control of a business but affect its performance.
Features of Business Environment:
Totality of external forces – Includes all external influences.
Dynamic in nature – Keeps changing.
Uncertainty – Hard to predict.
Complex – Many interrelated factors.
Relativity – Varies from country to country or region to region.
Importance of Business Environment:
Helps in identifying opportunities
Assists in threat identification
Enables firm to tap useful resources
Helps in planning and policy formulation
Improves performance
Dimensions of Business Environment:
Economic Environment – Inflation, interest rates, economic policies, etc.
Social Environment – Customs, values, lifestyle, education level.
Technological Environment – Innovation, new methods, automation.
Political Environment – Government policies, stability, ideologies.
Legal Environment – Laws, regulations, and court judgments.
Impact of Government Policy Changes on Business and Industry (especially post-1991 reforms):
Increased competition
More demanding customers
Rapidly changing technological environment
Need for developing human resources
Market orientation
Loss of budgetary support to public sector