CBSE Syllabus of BUSINESS STUDIES Class-12 for 2022-23 - (Code No. 054)

CBSE Syllabus of BUSINESS STUDIES Class-12 for 2022-23 – (Code No. 054) is designed and prepared by CBSE. We are here to help students to find copies of the syllabus easily while visiting our website. Original source of data is https://www.cbse.gov.in/cbsenew/cbse.html

Table of Contents

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Rationale

The courses in Business Studies and Accountancy are introduced at + 2 stages of Senior Secondary Education as formal commerce education is provided after the first ten years of schooling. Therefore, it becomes necessary that instructions in these subjects are given in such a manner that students have a good understanding of the principles and practices bearing in business (trade and industry) as well as their relationship with society.

Business is a dynamic process that brings together technology, natural resources and human initiative in a constantly changing global environment. To understand the framework in which a business operates, a detailed study of the organisation and management of business processes and its interaction with the environment is required. Globalisation has changed the way organizations transact their business.

Information Technology is becoming a part of business operations in more and more organisations. Computerised systems are fast replacing other systems. E-business and other related concepts are picking up fast which need to be emphasized in the curriculum.

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The course in Business Studies prepares students to analyse, manage, evaluate and respond to changes which affect business. It provides a way of looking at and interacting with the business environment. It recognizes the fact that business influences and are influenced by social, political, legal and economic forces.

It allows students to appreciate that business is an integral component of society and develops an understanding of many social and ethical issues.

Therefore, to acquire basic knowledge of the business world, a course in Business Studies would be useful. It also informs students of a range of study and work options and bridges the gap between school and work.

Objectives:

To inculcate business attitude and develop skills among students to pursue higher education, the world of work including self-employment.
To develop students with an understanding of the processes of business and its environment;
To acquaint students with the dynamic nature and inter-dependent aspects of business;
To develop an interest in the theory and practice of business, trade and industry;
To familiarize students with theoretical foundations of the process of organizing and managing the operations of a business firm;
To help students appreciate the economic and social significance of business activity and the social cost and benefits arising therefrom;
To acquaint students with the practice of managing the operations and resources of business;
To enable students to act more effectively and responsibly as consumers, employers, employees and citizens;

Course Structure Class-XII (2022-23)

Theory: 80 Marks	3 Hours
Project: 20 Marks

Units		Periods	Marks
Part A	Principles and Functions of Management
1	Nature and Significance of Management	12	16
2	Principles of Management	14
3	Business Environment	12	14 14
4	Planning	14
5	Organising	15	10 20
6	Staffing	16
7	Directing	15
8	Controlling	12
	Total	110	50
Part B	Business Finance and Marketing
9	Financial Management	20	15
10	Financial Markets	18
11	Marketing Management	30	15
12	Consumer Protection	12
	Total	80	30
Part C	Project Work (One)	30	20

Part A: Principles and Functions of Management

Unit 1: Nature and Significance of Management

Concept	After going through this unit, the student/ learner would be able to:
Management – concept, objectives, and importance	Understand the concept of management. Explain the meaning of ‘Effectiveness and Efficiency. Discuss the objectives of management. Describe the importance of management.
Management as Science, Art and Profession	Examine the nature of management as a science, art and profession.
Levels of Management	Understand the role of top, middle and lower levels of management
Management functions-planning, organizing, staffing, directing and controlling	Explain the functions of management
Coordination- concept and importance	Discuss the concept and characteristics of coordination. Explain the importance of coordination.

Unit 2: Principles of Management

Principles of Management- concept and significance	Understand the concept of principles of management. Explain the significance of management principles.
Fayol’s principles of management	Discuss the principles of management developed by Fayol.
Taylor’s Scientific management- principles and techniques	Explain the principles and techniques of ‘Scientific Management’.Compare the contributions of Fayol and Taylor.

Unit 3: Business Environment

Business Environment- concept and importance	Understand the concept of ‘Business Environment’.Describe the importance of the business environment
Dimensions of Business Environment- Economic, Social, Technological, Political and Legal Demonetization – concept and features	Describe the various dimensions of ‘Business Environment’.Understand the concept of demonetization

Unit 4: Planning

Concept, importance and limitation	Understand the concept of planning. Describe the importance of planning. Understand the limitations of planning.
Planning process	Describe the steps in the process of planning.
Single-use and standing plans. Objectives, Strategy, Policy, Procedure, method Rule, budget and Programme	Develop an understanding of single-use and standing plans and describe objectives, policies, strategy, procedure, method, rule, budget and programme as types of plans.

Unit 5: Organising

Concept and importance	Understand the concept of organizing as a structure and as a process. Explain the importance of organising.
Organising Process	Describe the steps in the process of organizing
Structure of organisation- functional and divisional concept. Formal and informal organisation- concept	Describe the functional and divisional structures of the organisation. Explain the advantages, disadvantages and suitability of functional and divisional structure. Understand the concept of formal and informal organisation. Discuss the advantages and disadvantages of formal and informal organisation.
Organising Process	Describe the steps in the process of organizing
Structure of organisation- functional and divisional concept. Formal and informal organisation- concept	Describe the functional and divisional structures of the organisation. Explain the advantages, disadvantages and suitability of functional and divisional structure. Understand the concept of formal and informal organisation. Discuss the advantages and disadvantages of formal and informal organisation.
Delegation: concept, elements and importance	Understand the concept of delegation. Describe the elements of delegation. Appreciate the importance of Delegation.
Decentralization: concept and importance	Understand the concept of decentralisation. Explain the importance of decentralisation. Differentiate between delegation and decentralisation.

Unit 6: Staffing

Concept and importance of staffing	Understand the concept of staffing. Explain the importance of staffing
Staffing as a part of the Human Resource Management concept	Understand the specialized duties and activities performed by Human Resource Management
Staffing process	Describe the steps in the process of staffing
Recruitment process	Understand the meaning of recruitment. Discuss the sources of recruitment. Explain the merits and demerits of internal and external sources of recruitment.
Selection – process	Understand the meaning of selection. Describe the steps involved in the process of selection.
Training and Development – Concept and importance, Methods of training – on the	Understand the concept of training and development.
job and off the job – vestibule training, apprenticeship training and internship training	Appreciate the importance of training to the organisation and to the employees. Discuss the meaning of induction training, vestibule training, apprenticeship training and internship training. Differentiate between training and development. Discuss on the job and off the job methods of training.

Unit 7: Directing

Concept and importance	Describe the concept of directing. Discuss the importance of directing
Elements of Directing	Describe the various elements of directing
Motivation – concept, Maslow’s hierarchy of needs, Financial and non-financial incentives	Understand the concept of motivation. Develop an understanding of Maslow’s Hierarchy of needs. Discuss the various financial and non-financial incentives.
Leadership – concept, styles – authoritative, democratic and laissez-faire	Understand the concept of leadership. Understand the various styles of leadership.
Communication – concept, formal and informal communication; barriers to effective communication, how to overcome the barriers	Understand the concept of communication and understands the elements of the communication process. Discuss the concept of formal and informal communication. Discuss the various barriers to effective communication. Suggest measures to overcome barriers to communication.

Unit 8: Controlling

Controlling – Concept and importance	Understand the concept of controlling. Explain the importance of controlling.
Relationship between planning and controlling	Describe the relationship between planning and controlling
Steps in process of control	Discuss the steps in the process of controlling.

Part B: Business Finance and Marketing

Unit 9: Financial Management

Concept, role and objectives of Financial Management	Understand the concept of financial management. Explain the role of financial management in an organisation. Discuss the objectives of financial management
Financial decisions: investment, financing and dividend- Meaning and factors affecting	Discuss the three financial decisions and the factors affecting them.
Financial Planning – concept and importance	Describe the concept of financial planning and its objectives. Explain the importance of financial planning.
Capital Structure – concept and factors affecting capital structure	Understand the concept of capital structure. Describe the factors determining the choice of an appropriate capital structure of a company.
Fixed and Working Capital – Concept and factors affecting their requirements	Understand the concept of fixed and working capital. Describe the factors determining the requirements of fixed and working capital.

Unit 10: Financial Markets

Financial Markets: Concept	Understand the concept of financial market.
Money Market: Concept	Understand the concept of money market.
Capital market and its types (primary and secondary)	Discuss the concept of capital market. Explain primary and secondary markets as types of capital market. Differentiate between capital market and money market. Distinguish between primary and secondary markets.
Stock Exchange – Functions and trading procedure	Give the meaning of a stock exchange. Explain the functions of a stock exchange. Discuss the trading procedure in a stock exchange. Give the meaning of depository services and demat account as used in the trading procedure of securities.
Securities and Exchange Board of India (SEBI) – objectives and functions	State the objectives of SEBI.Explain the functions of SEBI.

Unit 11: Marketing

Marketing – Concept, functions and philosophies	Understand the concept of marketing. Explain the features of marketing. Discuss the functions of marketing. Explain the marketing philosophies.
Marketing Mix – Concept and elements	Understand the concept of marketing mix. Describe the elements of marketing mix.
Product – branding, labelling and packaging – Concept	Understand the concept of product as an element of marketing mix. Understand the concept of branding, labelling and packaging.
Price – Concept, Factors determining price	Understand the concept of price as an element of marketing mix. Describe the factors determining price of a product.
Physical Distribution – concept, components and channels of distribution	Understand the concept of physical distribution. Explain the components of physical distribution. Describe the various channels of distribution.
Promotion – Concept and elements; Advertising, Personal Selling, Sales Promotion and Public Relations	Understand the concept of promotion as an element of marketing mix. Describe the elements of promotion mix. Understand the concept of advertising. Understand the concept of sales promotion. Discuss the concept of public relations.

Unit 12: Consumer Protection

Concept and importance of consumer protection	Understand the concept of consumer protection. Describe the importance of consumer protection. Discuss the scope of the Consumer Protection Act, 2019
The Consumer Protection Act, 2019: Source: http://egazette.nic.in/WriteReadData/2019/210422.pdf Meaning of consumer Rights and responsibilities of consumers Who can file a complaint? Redressal machinery Remedies available	Understand the concept of a consumer according to the Consumer Protection Act, 2019. Explain the consumer rights and understand the responsibilities of consumers understand who can file a complaint and against whom? Discuss the legal redressal machinery under Consumer Protection Act, 2019. Examine the remedies available to the consumer under Consumer Protection Act, 2019.
Consumer awareness – Role of consumer organizations and Non-Governmental Organizations (NGOs)	Describe the role of consumer organizations and NGOs in protecting consumers’ interests.

Unit 13: Project Work

PROJECT WORK IN BUSINESS STUDIES FOR CLASS XI AND XII

Introduction

The course in Business Studies is introduced at Senior School level to provide students with a sound understanding of the principles and practices bearing in business (trade and industry) as well as their relationship with the society. Business is a dynamic process that brings together technology, natural resources and human initiative in a constantly changing global environment. With the purpose to help them understand the framework within which a business operates, and its interaction with the social, economic, technological and legal environment, the CBSE has introduced Project Work in the Business Studies Syllabus for Classes XI and XII. The projects have been designed to allow students to appreciate that business is an integral component of society and help them develop an understanding of the social and ethical issues concerning them.

The project work also aims to empower the teacher to relate all the concepts with what is happening around the world and the student’s surroundings, making them appear more clear and contextual. This will enable the student to enjoy studies and use his free time effectively in observing what’s happening around.

By means of Project Work the students are exposed to life beyond textbooks giving them opportunities to refer materials, gather information, analyze it further to obtain relevant information and decide what matter to keep.