Question : Case Study 9: Women Entrepreneurship
Mrs. Sharma, a highly motivated and skilled woman, started her own clothing boutique. She sources clothing and accessories from local artisans and promotes traditional craftsmanship, empowering women from rural areas to become financially independent.
Question:
How does Mrs. Sharma's boutique contribute to the empowerment of women?
Option 1: By hiring only male employees
Option 2: By promoting traditional craftsmanship
Option 3: By outsourcing production to other countries
Option 4: By focusing on high-profit margins
Correct Answer: By promoting traditional craftsmanship
Solution : The correct answer is (b) By promoting traditional craftsmanship
Mrs. Sharma's business empowers women by promoting traditional craftsmanship and sourcing products from local artisans. This approach provides economic opportunities for women in rural areas, allowing them to showcase their skills and become financially independent. The focus on traditional craftsmanship aligns with the empowerment of women through economic participation and recognition of their talents.
Answer laterQuestion : A chain of coffee shops called Roasted Coffee Corporation operates in 7 Indian states. It has expanded thanks to its efficient organisational structure, despite pressure from rivals in the domestic market. The business is divided into four departments: Sales, Brand Management, Supply Chain Management, and Purchase and Production. Because staff become experts in their respective fields thanks to this arrangement, operations have become more efficient. Due to the concentration being on a certain set of abilities, they could receive specialised training. Identify the Roasted Coffee Corporation's corporate structure.
Option 1: Functional structure
Option 2: Divisional structure
Option 3: Formal Organisation Structure
Option 4: Informal Organisation Structure
Correct Answer: Functional structure
Solution : Functional structure describes the organisational structure of Roasted Coffee Corporation. By implementing functional structure, Roasted Coffee Corporation would also gain the following three benefits:
a) Occupational specialisation, when the focus is on particular functions.
b) Within a department, control and coordination are necessary due to the similarity of the duties being carried out.
c) Different tasks would receive the proper attention.
Hence, the correct option is 1.
Question : Assertion: The Green Revolution played a significant role in increasing agricultural productivity in India.
Reason: The introduction of high-yielding varieties of seeds, modern agricultural techniques, and better irrigation facilities contributed to increased food production.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: Assertion is true, but the reason is false.
Option 4: Assertion is false, but the reason is true.
Correct Answer: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Solution : The correct answer is (a) Both assertion and reason are true, and the reason is the correct explanation of the assertion.
The Green Revolution did indeed play a significant role in increasing agricultural productivity in India. The introduction of high-yielding varieties of seeds, modern agricultural techniques, and better irrigation facilities were key components of the Green Revolution and contributed to increased food production.
During the 1960s and 1970s, India faced a severe food shortage and was heavily dependent on food imports. To address this challenge, the Indian government, with the help of agricultural scientists and researchers, implemented the Green Revolution. This initiative focused on developing and disseminating improved seeds, such as dwarf wheat and high-yielding rice varieties, that had higher yields and were more resistant to pests and diseases.
The reason provided in the assertion correctly explains how the introduction of high-yielding varieties of seeds, modern agricultural techniques, and better irrigation facilities contributed to increased agricultural productivity in India during the Green Revolution.
Question : Case Study:
A company aims to create products that are of high quality and provide unique features. They focus on continuous innovation and strive to deliver superior customer value. This philosophy aligns with the:
Option 1: Marketing Concept
Option 2: Production Concept
Option 3: Selling Concept
Option 4: Product Concept
Correct Answer: Product Concept
Solution : The correct answer is (d) Product Concept.
The Product Concept is a marketing philosophy that centers on creating high-quality products with unique features and attributes. The main emphasis is on the product itself, striving to offer features and benefits that stand out and meet or exceed customer expectations. Companies following this concept are driven by a commitment to continuous innovation and improvement to maintain a competitive advantage and deliver superior value to their customers. The primary goal is to develop and market products that customers perceive as exceptional and desirable.
Question : India produces two commodities: X and Y. Its production possibilities are shown in the following table:
| Possibility | A | B | C | D | E | F |
| Commodity X | 20 | 14 | 9 | 5 | 2 | 0 |
| Commodity Y | 0 | 1 | 2 | 3 | 4 | 5 |
Calculate MRT for the possibility C.
Option 1: 5:1
Option 2: 4:1
Option 3: 6:1
Option 4: 2:1
Correct Answer: 5:1
Solution :
| Possibility | A | B | C | D | E | F |
| Commodity X | 20 | 14 | 9 | 5 | 2 | 0 |
| Commodity Y | 0 | 1 | 2 | 3 | 4 | 5 |
| MRT | -- | 6:1 | 5:1 | 4:1 | 3:1 | 2:1 |
MRT for possibility C = 5:1.
Hence, the correct option is 1.
(MRT) = MCx / MCy
It is a ratio of the total cost of producing one extra unit of goods for marketing firm X, as indicated by the formula MCx, and the rate of production raised by slowing down the production of goods for another company Y, indicated by the formula MCy.
Question : The Green Revolution in India led to a significant increase in the production of:
Option 1: Pulses
Option 2: Oilseeds
Option 3: Wheat and rice
Option 4: Cotton
Correct Answer: Wheat and rice
Solution : The Green Revolution in India primarily focused on increasing the production of wheat and rice through the use of high-yielding varieties, irrigation, and fertilizers, leading to a significant boost in food grain production.
Question : Case Study:
ABC Appliances offers a range of home appliances with unique features and benefits. They believe in continuous product innovation and improvement. Which marketing concept is reflected in this case?
Option 1: Production Concept
Option 2: Selling Concept
Option 3: Product Concept
Option 4: Marketing Concept
Correct Answer: Product Concept
Solution : The correct answer is (c) Product Concept
ABC Appliances focuses on continuous product innovation and improvement, emphasizing the development and enhancement of their products to meet the unique needs and preferences of their customers. The product concept is centered around creating high-quality, innovative, and unique products that consumers will find appealing and valuable. It's about delivering superior products and features to attract and satisfy customers, which aligns with the approach taken by ABC Appliances as described.
Question : The White Revolution in India is associated with the production and development of:
Option 1: Wheat
Option 2: Milk and dairy products
Option 3: Pulses
Option 4: Horticultural crops
Correct Answer: Milk and dairy products
Solution : The correct answer is (b) Milk and dairy products.
The White Revolution, also known as Operation Flood, was a dairy development program initiated in India in the 1970s. The program aimed to increase milk production and make India self-sufficient in milk and dairy products.
Under the White Revolution, various strategies were implemented to enhance milk production and improve the dairy industry. These included promoting dairy cooperatives, introducing modern dairy farming practices, improving cattle breeds through artificial insemination, establishing milk processing and distribution infrastructure, and encouraging farmers to participate in dairy activities.
The program brought about significant improvements in milk production and dairy processing in India. It led to the formation of cooperative societies like Amul, which played a crucial role in organizing and empowering dairy farmers. The White Revolution revolutionized the dairy sector, making India one of the largest producers of milk and dairy products in the world.
Question : Statement 1: Marketing concept focuses on creating value and building customer loyalty.
Statement 2: Production concept emphasizes understanding customer preferences and needs.
Option 1: Both statements are correct.
Option 2: Statement 1 is correct, and statement 2 is false.
Option 3: Both statements are incorrect.
Option 4: Statement 2 is correct, and statement 1 is incorrect.
Correct Answer: Statement 1 is correct, and statement 2 is false.
Solution : The correct answer is (b) Statement 1 is correct, and statement 2 is false.
Statement 1 is correct. The marketing concept does indeed focus on creating value for customers and building customer loyalty. It involves understanding customer needs and preferences, designing products or services that fulfill those needs, and delivering value to customers to establish and maintain long-term relationships.
Statement 2 is false. The production concept does not emphasize understanding customer preferences and needs. It centers on efficient and cost-effective production processes to mass-produce standardized products.
Question : Rahul, a worker is given target of assembling two computer per day. Due to his habit of doing things differently, an idea stuck him which would not only reduce the assembling time of computers but would also reduce the cost of production of computer. Rahul's supervisor instead of appreciating him, ordered him to complete the work as per the method and technique decided earlier as nothing could be change at this stage.
The above para describes one of the limitation of planning function of management. Name that limitation?
Option 1: Planning reduces creativity
Option 2: Planning may not work in a dynamic environment
Option 3: Planning leads to rigidity
Option 4: Planning is a time consuming process
Correct Answer: Planning reduces creativity
Solution : With the planning, the organization's managers begin to work rigidly and become the plan's only blind follower. The manager takes no initiative to make changes to the plan in response to changes in the business environment. In the above case, Rahul's supervisor instead of appreciating him, ordered him to complete the work as per the method and technique decided earlier as nothing could be change at this stage. It will shows planning reduce creativity.
Hence, option 1 is the correct answer.
