ASSIGNMENT

DRIVE FALL 2013

PROGRAM BA SOCIOLOGY
SEMESTER II
BAS 2012 FOUNDATION IN BUSINESS AND COMMERCE

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Q.No 1 Write a note on:

a) Transportation
Answer:
Transportation
Transportation is an essential feature for any business activity. Goods need to be transported from one
place to another. They are manufactured in the factory and afterwards they are sent to various destinations
and then to the actual user or consumer.
Transportation system in an organisation should be:
Efficient
Economic
Reliable
Meeting customer needs in a timely manner

 Experienced
Capable of meeting emergencies, special needs.
The job of transportation is usually handled by the marketing manager, who gives direct responsibility to
the godown incharge/warehouse superintendent or an officer entrusted with such work solely. In big
organisations, where movement of goods is very quick and volume is high, this activity is carried out by a
separate department, the transportation department.

b) Insurance
Answer:
Insurance
Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the
plan of insurance, a large number of people associate themselves by sharing risk, attached to individual.
The risk, which can be insured against include fire, the peril of sea, death, incident and burglary. Any risk
contingent upon these may be insured against at a premium commensurate with the risk involved.
For example, while goods are transported from one place to another, there may be an accident causing
damage or loss to goods.
Insurance is actually a contract between 2 parties whereby one party called insurer undertakes in
exchange for a fixed sum called premium to pay the other party on happening of a certain event.
Insurance is a contract whereby, in return for the payment of premium by the insured, the insurers pay the
financial losses suffered by the insured as a result of the occurrence of unforeseen events.
With the help of Insurance, large numbers of people exposed to a similar risk make contributions to a
common fund out of which the losses suffered by the unfortunate few, due to accidental events are made
good.

2 Explain the role of Public Sector.

Answer:

Role of the Public Sector

1. Promotion of Economic Growth: Economic growth refers to an increase in the per capita income of
the people. The real per capita income can be promoted by the production of more and more goods and
services. The public sector can produce more goods and services and enhance the economic growth.
2. Better Resource Allocation: The scarce resources have to be used on the basis of economic and social
priorities. Public sector can allocate the resources in a more efficient manner.
3. Balanced Regional Development: For the better development of an economy, the regional disparities
have to be abolished. That is why many public sector units have been started in the backward states like
Bihar and Orissa.
4. Reduction of Evils in Private Sector: Some of the evils of private sector like high prices, inferior
products, and exploitation of the consumers can be reduced with the growth of public sector units.
5. Socialism: Promotion of socialism can be done effectively through the introduction of public sector
enterprises.
6. Strong Industrial Base: A strong industrial base can be created with the growth of public sector
because a number of industries can be started by the government such as heavy and basic industries. The
private sector may be interested in starting only the consumer goods industries for the sake of profits.
7. Development of Infrastructure: Infrastructure development can take place along with the growth of
public sector. The government itself can understand the need and necessity of the infrastructure like
energy, transports, and communications.
8. Import Substitution and Export Promotion: Public sector enterprises can promote new and capital
goods industries which will promote import substitution. Moreover, these industries can also export their
products to foreign countries to earn foreign exchange.
9. Employment Generation: In an economy like India where unemployment is a serious problem, the
creation of public sector enterprises can open many gates for employment.
10. Critical Areas: Public sector enterprises alone produce goods and services in critical areas like
defence, army and ammunition as well as atomic energy.

3 The Memorandum of Association and Articles of Association are the most important documents
to be submitted to the ROC for the purpose of incorporation of a company. Analyze the statement.
Answer:

The Memorandum of Association and Articles of Association are the most important documents to be
submitted to the ROC for the purpose of incorporation of a company. The Memorandum of Association is
a document that sets out the constitution of the company. It contains, amongst others, the objectives and
the scope of activity of the company besides also defining the relationship of the company with the
outside world.
The Articles of Association contain the rules and regulations of the company for the management of its
internal affairs. While the Memorandum specifies the objectives and purposes for which the Company has
been formed, the Articles lay down the rules and regulations for achieving those objectives and purposes.
The ROC will give the certificate of incorporation after the required documents are presented along with
the requisite registration fee, which is scaled according to the share capital of the company, as stated in its
Memorandum. A private company can commence business on receipt of its certificate of incorporation.
A public company has the option of inviting the public for subscription to its share capital. Accordingly,
the company has to issue a prospectus, which provides information about the company to potential
investors. The Companies Act specifies the information to be contained in the prospectus.
The prospectus has to be filed with the ROC before it can be issued to the public. In case the company
decides not to approach the public for the necessary capital and obtains it privately, it can file a
"Statement in Lieu of Prospectus" with the ROC. On fulfillment of these requirements, the ROC issues a
Certificate of Commencement of Business to the public company. The company can commence business
immediately after it receives this certificate.
The documents/forms stated below are filed along with Memorandum of Association and Articles of
Association on payment of filing fees (depending on the authorised capital of the company):
Pronouncement of compliance duly stamped.
Notice of the circumstances of the registered office of the company.
Details of Directors, Manager or Secretary.
Authority executed on a non-judicial stamp paper, in favour of one of the subscribers to the
Memorandum of Association or any other person authorizing him to file the documents and papers for
registration and to make necessary corrections, if any.
The ROCs letter (in original) indicating the availability of the name.
Certificate of Incorporation
Once all the above documents have been filed and they are found to be in order, the Registrar of
Companies will issue the Certificate of Incorporation of the Company. It takes one to two weeks from the
date of filing Memorandum of Association and Articles of Association to receive a Certificate of
Incorporation. Although a private company can commence business immediately after receiving the

certificate of incorporation, a public company cannot do so until it obtains a Certificate of

Commencement of Business from the ROC.

4 Write a note on:

i) Debit cards
Answer:
Debit Cards
Debit cards were launched in India during 1998. The technology involved in making the debit cards is
sophisticated and almost all the issuing banks use the same kind of technology. Debit cards are fast
catching up with the customers. A combination of factors like ease of availability, debt-averse profile of
customers and zero interest rates are propelling the usage of debit cards.
Debit cards are substitutes for cash or check payments much the same way that credit cards are. However,
banks only issue them if one holds an account with them. When a debit card is used to make a payment,
the total amount charged is instantly reduced from the bank balance. A debit card is only accepted at
outlets with electronic swipe-machines that can check and deduct amounts from the bank balance on-line.

ii) Credit cards

Answer:
Credit cards
A credit card is plastic money that is used to pay for products and services at over 20 million locations
around the world. All that needs to be done is to produce the card and sign a charge slip to pay for the
purchases. The institution, which issued the card, makes the payment to the outlet on the customers
behalf and would be reimbursed at a later date.
Credit cards provide the issuer with a revolving loan or credit limit based on the agreement to pay at
least the minimum amount due on the amount of credit used by the payment date.

5 Explain the factors responsible for the growth of Organized Retailing.

Answer:
Factors Responsible for the Growth of Organised Retailing
There are many factors responsible for the growth of the retail sector like economic and political,
demographics, consumer behaviour, etc., which are discussed below.
1. Economic Factors: It consists of the governments liberalized policies which are now allowing FDI
into retail. Moreover, India is now the second fastest growing country in the world and the fourth largest
economy in terms of PPP (purchasing power parity) after USA, China and Japan. This implies that the
consumers especially middle and upper class ones have more disposable income to spend. It was found
out that 70 million people earn more than $18,000 per annum and the number will rise to 140 million by
2011. Hence, the situation seems interesting for the retail companies.
2. Political Factor: India has been a democratic country since 1947 and what makes it even more
attractive is the current stable government which believes in market economy, and hence, more
liberalization in trade can be expected.
3. Demographic Factors: The country has the largest young population in the world, over $890 million
people below 45 years. Moreover, there will be 550 million young people under the age of 20 by 2015.
Furthermore, there has been an increase in the number of working women and nuclear families. Also
there are more English speaking people in India than in the whole of Europe taken together. All these
being the reasons for growth in the organized retail sector.
4. Change in Consumer Behaviour: Indian consumers are becoming more trend conscious and there is a
shift from price consideration to design and quality. There is greater focus on looking and feeling good.
Indian consumers have grown richer, and hence, spending more. Mall mania brought with it a new retail
format which offers a perfect weekend getaway for Indian families. There is a shift from a need based to a
lifestyle based sector.
5. Others: Factors in addition to the ones discussed above are increase in the number of international
brands, credit availability, improvement in infrastructure and investment in technology and real estate to
provide consumers with a world class shopping experience. (AT Kearny, 2006). Also there is a space for
15,000+ new outlets, 100 hypermarkets, 500 department stores and 2000 supermarkets.

6 Write a note on future prospects of BPOs and KPOs.

Answer:
Future Prospects of BPOs and KPOs
IT enabled services are billed as a bigger opportunity for India than the software industry. India has
already established itself firmly as a provider of quality software services; there is no need to sell India. It
has a large English-speaking graduate workforce and low wage levels. The concept of outsourcing is
rapidly gaining acceptance by corporate leaders worldwide. More importantly, in India, unlike in other
developed Western countries, a job in ITES is taken up as a serious career option rather than as a stopgap
arrangement. This reduces training costs substantially while adding to quality brought about by
experience. Also, the traditional environment in India creates a suitable atmosphere for delivering good
quality services particularly in customer care.
The success of off-shoring BPO sector in India has led to the emergence of Knowledge Process
Outsourcing (KPO) sector in India, which deals with off-shoring of knowledge intensive business
processes requiring specialized domain-based expertise. India is well endowed with large pool of skilled
manpower, like, chartered accountants, doctors, MBAs, lawyers, research analysts, etc., which would help
to add value to the global KPO business and its high-end processes like valuation research, investment
research, patent filing, legal and insurance claims processing, online teaching, media content supply, etc.
This advantage, along with multi-lingual capabilities and advantages of lower costs, can help the country
to emerge as a front-runner in KPO on the global platform. According to NASSCOM-Crisil study,
knowledge services outsourcing industry in India is expected to grow at a CAGR of 22.2% over 2015
from $2 billion in 2010 and touch $5.6 billion. Globally, knowledge services landscape is expected to
grow from $2.9 billion in 2010 to $7.9 billion by fiscal 2015.
Because of the success of Indian software firms, many Fortune 500 companies are already aware of
India's advantages as a platform for software development. These foreign firms want an optimal blend of
a talented, English-speaking workforce, good technological infrastructure and favourable political
climate; all of which India meets satisfactorily.

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Source: Nasscom-McKinsey
Yet another compelling reason for offering IT enabled services is that it allows companies to capitalise on
time zone differences and to provide round-the-clock services, every day of the week on 24x7 model. For
example, doctors in the US can have transcribed records of their notes at the start of the next day by
sending them to medical transcriptionists in India who will start work at the end of their working day in
the US.
ITES (Information Technology Enables Services) today is one of the fastest growing industries in the
country growing at more than 75%. The growth is both organic and inorganic. While many of the existing
players, after passing through the birth pangs, are just getting onto the fast track, new companies and
established international players like Convergys have already set up shop in India. The present scenario is
dotted with both the outsourced service providers and captive units in the call centre arena, mainly captive
units in back office operations and a few big players with many small franchisees in the medical
transcription arena. The GIS sector is a combination of medium and small range players. The maximum
action is taking place in the call centre arena, primarily due to its visibility.

At the global level, the market for ITES was expected to be around US $ 300 billion (2005-06) while the
ITES in India generated revenues of US$ 6.3 billion in 2005-06 and the projected revenue target of US$
8.5 billion in 2006-2007, a growth of close to 40%. It is estimated that the ITES sector in India would
grow to US $ 88.1 billion in FY 2011 (NASSCOM reports). The BPO sector has witnessed substantial
off-shoring, accounting for 46% of the global BPO industry.