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Questions and Answers
What is the primary purpose of a business organization?
What is the primary purpose of a business organization?
Which of the following is NOT a characteristic of Sole Proprietorship?
Which of the following is NOT a characteristic of Sole Proprietorship?
Which factor is NOT typically considered when determining plant location?
Which factor is NOT typically considered when determining plant location?
What distinguishes a Private Company from a Public Company?
What distinguishes a Private Company from a Public Company?
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What is the main objective of rationalisation in business?
What is the main objective of rationalisation in business?
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Study Notes
Unit I: Business
- Defining business
- Stages of business development
- Classifying business activities
- Characteristics of business organizations
- Importance of business organizations
- Evolution of business organizations
Unit II: Promotion of Business
- Establishing a new business
- Qualities of a successful businessman
- Forms of business organizations
- Sole proprietorship
- Partnership
- Joint stock companies
- Co-operatives
- Characteristics of these organizations
- Merits and demerits of each
- Private vs public company
- One-person company
Unit III: Plant Location and Layout
- Concept of plant location
- Factors affecting plant location
- Theories of plant location (Alfred Weber's & Sargent Florence's)
- Plant layout: meaning, objectives, importance
- Types of plant layout
- Principles of plant layout
- Measuring business size
- Factors affecting optimum size
Unit IV: Business Combinations & Rationalization
- Business combination: meaning, characteristics, objectives
- Types/forms of business combinations
- Rationalization: meaning, characteristics, objectives
- Principles of rationalization
- Merits and demerits of rationalization
- Difference between rationalization and nationalization
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Description
This quiz covers fundamental concepts in business, including definitions, stages of development, and classifications of business activities. It explores the characteristics and importance of various business organizations, along with promotion strategies and plant location factors. Ideal for students studying business management.
