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.
Planning is the process of thinking in advance what is to be done, how, when, and by whom. It bridges the gap between where we are and where we want to go.
Features of Planning:
Goal-oriented – Focuses on achieving specific objectives.
Primary function – It is the first step in the management process.
Pervasive – Required at all levels and departments.
Continuous – Ongoing process as plans need updates.
Futuristic – Focuses on looking ahead.
Decision-making – Involves choosing from alternatives.
Importance of Planning:
Provides direction
Reduces uncertainties
Minimizes wastages
Facilitates decision-making
Establishes standards for controlling
Planning Process:
Setting objectives
Developing premises (assumptions about the future)
Identifying alternatives
Evaluating alternatives
Selecting the best alternative
Implementing the plan
Following up (monitoring)
Types of Plans:
Objectives – End goals.
Strategy – Broad plans for achieving objectives.
Policy – General guidelines.
Procedure – Steps to perform activities.
Rule – Specific statements to be followed strictly.
Budget – Numerical plan.
Limitations of Planning:
Time-consuming
May not work in a dynamic environment
Reduces creativity
Expensive
Involves rigidity