BCOC 132 Solved Assignment 2022 – 23 [IGNOU BCOMG]

BCOC 132 Solved Assignment 2022 – 23

IGNOU BCOMG – 1st Semester

COURSE CODE: BCOC 132 Business Organisation and Management

TUTOR MARKED ASSIGNMENT B. COMG 1^stSEM

ASSIGNMENT CODE: BCOC-132/TMA/2022-23

Maximum Marks: 100

SECTION-A

(This section contains long answer questions of 10 marks each)

In this post you will get BCOC 132 Solved Assignment 2022 – 23. Subject Title is Business Organisation and Management which is an important subject of IGNOU BCOMG 1st Semester. All the IGNOU BCOMG solved assignment are free. Visit our blog regularly for more solved assignment.

1. What is lease financing? What are two types of lease financing? (10)

Ans: A lease may be defined as contractual arrangement or transaction in which a party owing an asset (lessor) provides the asset for use to another (lessee) over a period in return for periodic payment (rentals). Leasing is not confined to domestic trade alone. It has gone beyond the frontiers of a country. In olden days, leasing was in the form of charter party arrangement where in the entire ship is taken on lease either for a particular period or for a particular voyage.

Leasing is a contractual transaction in which the owner of an asset (called lessor) gives the same to another party (called lessee) the right to use it for a specified period of time (called lease period) in consideration of certain payments (called lease rentals). The International Accounting Standard No.17 (IAS – No.17) defines Leasing as “an agreement whereby the Lessor conveys, to the lessee in return for rent, the right to use an asset for an agreed period of time.”

Lease financing is one of the important sources of medium- and long-term financing where the owner of an asset gives another person, the right to use that asset against periodical payments. The owner of the asset is known as lessor and the user is called lessee.

Types of Leases

Leasing is a unique type of commercial contract. Lease financing is often termed as equipment leasing and it is broadly classified into:

(a) Operating Lease: According to Indian accounting standard (IAS 17) an operating lease is not same in the financial lease. The lessor does not transfer all the risks and rewards incidental to the ownership of the asset and cost of the asset is not fully amortised during the primary lease period. The lessor provides services attached to the lease asset such as maintenance, repair, and technical advice. For this reason, the operating lease is also known as service lease.

In operating lease, the lease is usually for a shorter term and is generally cancellable. As the asset is leasable repeatedly to several persons, the operating lease is usually said to be a non-payout lease.

(b) Financial Lease: Financial lease is a long-term lease usually coinciding with the economic life of the asset and is non-cancellable. It operates as a long-term debt financing and is usually full-payout as in contrast to operating lease, it is usually a single lease repaying the cost of the asset. They play a major role in financing of building of buildings and equipments to industries.

According to the Indian Accounting Standard (IAS -17) in a finance lease, the lessor transfers to the lessee, substantially all the risks and rewards incidental to the ownership of the asset. Financial lease involves payment of rentals over the lease period sufficient to amortised the capital outlay of the lessor and leave some profit. The lessor is only the financier and is not interested in the asset. The lessor is able to recover the investment in the lease and derive the profit. So it is known as full payment lease. Assets involved in ships, air crafts, railway wagons, land, buildings, machinery and so on. The lease period cannot be cancelled.

2. Briefly discuss the process of innovation. Mention various types of innovation. (10)

Ans: Buy Full Assignment @ Rs. 30

3. What are the steps involved in the communication process? Briefly explain the major elements in the communication process. (10)

Ans: Process of Communication: The process of communication is the inter relationship between several independent components. It consists of a chain of related actions and reaction which together result in exchange of information. In order to understand the process of communication, it is necessary to describe each of these components. A model of communication process is as follows:

1. SENDER

2. IDEATION

3. MESSAGE

4. INCODING

5. TRANSMISSION

6. RECEIVER

7. DECODING

8. BEHAVIOUR OF RECIEVER

9. FEEDBACK

1. Sender: The sender is the first component of the process of c communication. The sender may be a speaker, a writer or any other person. He is the one who has a message and wants it to share it for some purpose.

2. Ideation: Ideation is the preliminary step in communication where sender creates an idea to communicate. This idea is the content and basis of the message to be communicated. Several ideas may generate in the sender’s mind. The sender must identify, analyze and arrange the ideas sequentially before transmitting them to the receiver.

3. Message: Message is the heart of communication. It is what the sender wants to convey to the receiver. It may be verbal i.e. written or spoken or non-verbal i.e. body language, space language, etc.

4. Encoding: To encode is to put an idea into words. In this step the communicator organizes his ideas into a series of symbols or words which will be communicated to the intended receiver. Thus the ideas are converted into words or symbols. The words and the symbols should be selected carefully, it should be understandable and most of all it should be suitable for transmission and reception.

5. Transmission: Next in the process of communication is transmission of the message as encoded messages are transmitted through various media and channels of communication connects the sender and the receiver. The channel and media should be selected keeping in mind the requirement of the receiver, the communication to be effective and efficient the channel should be appropriate.

6. Receiver: Receiver is the person or group for whom the message is meant. He may be a listener, a reader or a viewer. Any neglect on the part of the receiver may make the communication ineffective. Receiver is thus the ultimate destination of the message. It the message does not reach the receiver the communication is said to be incomplete.

7. Decoding: Decoding means translation of symbols encoded by the sender into ideas for understanding. Understanding the message by receiver is the key to the decoding process. The message should be accurately reproduced in the receiver’s mind. If the receiver is unable to understand the message correctly the communication is ineffective.

8. Behaviour of the receiver: It refers to the response by the receiver of the communication received from the sender. He may like to ignore the message or to store the information received or to perform the task assigned by the sender. Thus communication is complete as soon as the receiver responses.

9. Feedback: Feedback indicates the result of communication. It is the key element in the communication and is the only way of judging the effectiveness of communication. It enables the sender to know whether his message has been properly interpreted or not. Systematic use of feedback helps to improve future message. Feedback, like the message could be oral, written or non-verbal. It has to be collected from the receiver.

4. “Non-financial incentives are as strong motivators as the financial ones” Critically examine this statement in the light of need-priority model and two-factor theory of motivation. (10)

Buy Full Assignment @ Rs. 30

5. Explain various marketing concepts under which business enterprises conduct their marketing activity. (10)

Ans: Traditional concept of marketing

According to this concept, marketing consists of those activities which are concerned with the transfer of ownership of goods from producers to consumers. Thus, marketing means selling of goods and services. In other words, it is the process by which goods are made available to ultimate consumers from their place of origin. The traditional concept of marketing corresponds to the general notion of marketing, which means selling goods and services after they have been produced. The emphasis of marketing is on sale of goods and services. Consumer satisfaction is not given adequate emphasis. Viewed in this way, marketing is regarded as production/sales oriented.

Modern concept of marketing

According to the modern concept, marketing is concerned with creation of customers. Creation of customers means identification of consumer needs and organising business to satisfy these needs. Marketing in the modern sense involves decisions regarding the following matters:

1. Products to be produced

2. Prices to be charged from customers

3. Promotional techniques to be adopted to contact and influence existing and potential customers.

4. Selection of middlemen to be used to distribute goods and services.

Modern concept of marketing requires all the above decisions to be taken after due consideration of consumer needs and their satisfaction. The business objective of earning profit is sought to be achieved through provision of consumer satisfaction. This concept of marketing is regarded as consumer oriented as the emphasis of business is laid on consumer needs and their satisfaction.

Six Fundamental concept of Marketing are:

There are six concept of marketing which the companies keep in mind:

i) Production concept: The production concept is one of the oldest concepts in business. It holds that consumers will prefer products that are widely available and inexpensive. So, production concept oriented business concentrate on achieving high production which reduces cost and focus on mass distribution.

ii) Product concept: This concept holds that consumers will prefer those products that are high in quality and performance and with innovative features. Managers in these organization focus on making superior products and improving them. But the marketer must keep in mind that the customers will buy the best quality product only when they need or want it.

iii) Selling concept: Now a day, as the technology advances along with the quantity and quality of the goods, the art of selling the goods are also very essential. The firms which follow the selling concept believe that in order to motivate a customer to buy his product, he must be convinced by aggressive selling and promotional efforts. Firms following selling concept make use of advertising powers and other persuation techniques to influence the customers.

This concept says than product should be designed and produced keeping in mind the need of the customers and try to satisfy the need better than the competitor. The marketing concept holds that the key to achieving organizational goals consist of the company being more effective than competitors in creating, delivering and communicating superior customers value.

This concept puts the customers at both the beginning and the end of the business cycle. Every department and every worker should think about the customer and acts as per need of the customer.

v) Consumer concept: As per this concept, companies’ aims at providing consumers separate offers or services. This is possible through one to one marketing.

vi) Societal marketing concept: A company must not blindly follow the goal of customer satisfaction because it may lead to many social and environmental ills for example, a customer may want to have drugs so just to satisfy customer the firms should not supply him drugs. This concept requires that company should deliver superior value to the consumer to improve the consumer and the society. It focuses on consumer welfare. Firms should not produce harmful products.

BCOC 132 Solved Assignment 2022 – 23

Section-B

(This section contains medium answer questions of 6 marks each)

6. What do you mean by leadership style? Briefly explain the basic styles of leadership. (6)

Ans: Meaning of Leadership Styles: Leadership style is a method in which leaders provides direction, implement plans and motivates his subordinates. Great leader can inspire and motivate his subordinates to innovate and do creative things. Leadership style is simply behaviour of leaders while leading a group of people. Leadership styles are of various types such as autocratic, democratic, free-rein style and paternalistic leaders.

Meaning of Autocratic, Democratic and Free-rein style leaders:

1. Autocratic or Authoritarian Style leader: An autocratic also known as authoritarian style of leadership implies wielding absolute power. Under this style, the leader expects complete obedience from his subordinates and all decision-making power is centralized in the leader.

No suggestions or initiative from subordinates is entertained. The leader forces the subordinates to obey him without questioning. An autocratic leader is, in fact, no leader. He is merely the formal head of the organisation and is generally disliked by the subordinates who feel comfortable to depend completely on the leader.

2. Democratic or Participative Style leader: The democratic or participative style of leadership implies compromise between the two extremes of autocratic and laissez-fair style of leadership. Under this style, the supervisor acts according to the mutual consent and the decisions reached after consulting the subordinates.

Subordinates are encouraged to make suggestions and take initiative. It provides necessary motivation to the workers by ensuring their participation and acceptance of work methods. Mutual trust and confidence is also created resulting in job satisfaction and improved morale of workers.

It reduces the number of complaints, employee’s grievances, industrial unrest and strikes. But this style of leadership may sometimes cause delay in decisions and lead to indiscipline in workers.

3. Laissez-faire or Free-rein Style Leader: Under this type of leadership, maximum freedom is allowed to subordinates. They are given free hand in deciding their own policies and methods and to make independent decisions. The leader provides help only when required by his subordinates otherwise he does not interfere in their work.

The style of leadership creates self-confidence in the workers and provides them an opportunity to develop their talents. But it may not work under all situations with all the workers, may bring problems of indiscipline. Such leadership can be employed with success where workers are competent, sincere and self-disciplined.

7. Write a short note on National Skill Development Corporation (NSDC). (6)

Ans: Buy Full Assignment @ Rs. 30

8. Explain McGregor’s Participation Theory of motivation. (6)

Ans: Doughlas McGregor introduced these two theories i.e., Theory X and Theory Y, based on two distinct views of human beings. He proposed, at opposite extremes, two pairs of assumptions about human beings which he thought were implied by the actions of the mangers. Theory X deals with one extreme, based on one set of assumptions and Theory y deals with another extreme based on another set of assumptions. Theory Y of McGregor is known as theory of motivation. These theories are not based on any research, but according to McGregor, these are intuitive deduction.

Theory y:

This approach assumes that management by direction and control is questionable method for motivating such people whose physiological and social needs have been satisfied and whose social; esteem and self-actualization needs are becoming more important. For such people, Theory Y seems to be applicable, which is the contrast of Theory X. This theory makes the following assumptions about people:

a) The average human being does not inherently dislike work. He can view work as natural or enjoyable as rest or play

b) Employees will exercise self-direction and self-control in the attainment of the objectives to which they are committed

c) Given proper working conditions, average person can learn to accept and even to seek responsibility

d) Commitment to objectives is a function of the rewards associated with their achievement

e) All the people are capable of making innovative and creative decision and the decision making is not the sole province of the people in management position.

9. Discuss the marketing concepts under which business enterprises conduct their marketing activity. (6)

Ans: There are six concept of marketing which business enterprises conduct their marketing activity:

iv) Marketing Concept: The marketing concept emerged in the mid 1950’s. The business generally shifted from a product – centered, make and sell philosophy, to a customer centered, sense and respond philosophy. The marketing concept concentrates on the need of the customers. This concept says than product should be designed and produced keeping in mind the need of the customers and try to satisfy the need better than the competitor.

The marketing concept holds that the key to achieving organizational goals consist of the company being more effective than competitors in creating, delivering and communicating superior customers value. This concept puts the customers at both the beginning and the end of the business cycle. Every department and every worker should think about the customer and acts as per need of the customer.

v) Consumer concept: As per this concept, companies’ aims at providing consumers separate offers or services. This is possible through one to one marketing.

10. Explain the Role and Functions of SEBI. (6)

Ans: Purpose and Role of SEBI: SEBI was set up with the main purpose of keeping a check on malpractices and protect the interest of investors. It was set up to meet the needs of three groups.

1. Issuers: For issuers it provides a market place in which they can raise finance fairly and easily.

2. Investors: For investors it provides protection and supply of accurate and correct information.

3. Intermediaries: For intermediaries it provides a competitive professional market.

Functions of SEBI: The SEBI performs functions to meet its objectives. To meet three objectives SEBI has three important functions. These are:

i. Protective functions

ii. Developmental functions

iii. Regulatory functions.

1. Protective Functions: These functions are performed by SEBI to protect the interest of investor and provide safety of investment. As protective functions SEBI performs following functions:

(i) It Checks Price Rigging. SEBI prohibits such practice because this can defraud and cheat the investors.

(ii) It Prohibits Insider trading. SEBI keeps a strict check when insiders are buying securities of the company and takes strict action on insider trading.

(iii) SEBI prohibits fraudulent and Unfair Trade Practices. SEBI does not allow the companies to make misleading statements which are likely to induce the sale or purchase of securities by any other person.

(iv) SEBI undertakes steps to educate investors so that they are able to evaluate the securities of various companies and select the most profitable securities.

(v) SEBI promotes fair practices and code of conduct in security market by taking following steps:

(a) SEBI has issued guidelines to protect the interest of debenture-holders wherein companies cannot change terms in midterm.

(b) SEBI is empowered to investigate cases of insider trading and has provisions for stiff fine and imprisonment.

2. Developmental Functions: These functions are performed by the SEBI to promote and develop activities in stock exchange and increase the business in stock exchange. Under developmental categories following functions are performed by SEBI:

(i) SEBI promotes training of intermediaries of the securities market.

(ii) SEBI tries to promote activities of stock exchange by adopting flexible and adoptable approach in following way:

(a) SEBI has permitted internet trading through registered stock brokers.

(b) SEBI has made underwriting optional to reduce the cost of issue.

3. Regulatory Functions: These functions are performed by SEBI to regulate the business in stock exchange. To regulate the activities of stock exchange following functions are performed:

(i) SEBI has framed rules and regulations and a code of conduct to regulate the intermediaries such as merchant bankers, brokers, underwriters, etc.

(ii) These intermediaries have been brought under the regulatory purview and private placement has been made more restrictive.

(iii) SEBI registers and regulates the working of stock brokers, sub-brokers, share transfer agents, trustees, merchant bankers and all those who are associated with stock exchange in any manner.

(iv) SEBI registers and regulates the working of mutual funds etc.

(v) SEBI regulates takeover of the companies.

(vi) SEBI conducts inquiries and audit of stock exchanges.

BCOC 132 Solved Assignment 2022 – 23

Section-C

(This section contains short answer questions of 4 marks each)

11. Explain the concept of One Person Company. (4)

Ans: One Person company (OPC) [Sec. 2(62)]: It means a company which has only one person as a member. All the provisions of a private company are also applicable to this company. It provides benefit of both forms of business – proprietorship and company. With formatting of a one-person company business can be run in same way as a proprietorship but by complying with laws.

Special Advantages of One-Person Company

1. Independent Existence: The One Person Company is considered as a separate legal entity. In the eyes of the law, a company is a person, having a common seal, and perpetual succession. It gets the authority to exercise all the functions of an incorporated person.

2. Limited Liability: Unlike public limited company & private limited company, the concept of limited liability of One Person Company in India implies that the liability of the member is will be up to the extent of his share in the company. In an OPC, one person holds the entire share and has complete authority over the operation of the business. So, it can be elucidated that the liability of the person will be to the extent he has invested in the business.

3. Separate Property: An OPC will have its own separate property as it gains its own identity and functions as a separate legal entity. The OPC will become the owner of its assets, and the members will not have any insurable rights in the assets of the company.

4. Transferability of Shares: OPC has only one shareholder. The issue of transferring a portion of the share does not arise at all because if it is done, the company will cease to be a “one person” company. Transferring all the shares is also not practicable as it’ll change the entire structure of the company as the owner of the company is changing. The issue has not yet been dealt with, and interpretation of the law may provide us with the explanation that in an OPC, transfer of share is not allowed.

5. Tax Flexibility and Savings: OPC make a valid contract with its shareholder or directors. This means as a director you can receive remuneration, as a lessor you can receive rent, as a creditor you can advance money to your own company and earn interest. Directors’ remuneration, rent and interest are a deductible expense which reduce the profitability of the Company and ultimately brings down taxable income of your business.

12. Differentiate between PERT and CPM. (4)

Ans: Difference between PERT and CPM

Basis	PERT	CPM
1. Activities	PERT is a technique used in planning, scheduling, coordination and control of uncertain events.	CPM is a technique used in planning, scheduling, coordination and control of well-defined activities.
2. Nature	PERT is used for projects which are of non repetitive nature.	CPM is used for projects which are of repetitive nature.
3. Focus on	PERT main focus on controlling of time.	CPM helps in controlling cost and time involved in the project
4. Model used	Probabilistic model used in PERT.	Deterministic model used in CPM.
5. Projects	PERT is used for research based projects.	CPM is used for mainly construction projects.
6. Orientation	PERT is event oriented.	CPM is activity oriented.

13. How is Primary market different from Secondary market? (4)

Ans: Differences between primary and secondary market:

Basis	Primary Market	Secondary Market
1. Meaning	It is the market where the securities are issued for the first time. It is also referred as New issue market.	It is the market where the existing securities are traded. It is also called stock Exchange.
2. Price determination	The prices of the securities are determined by the company.	The prices of the securities are determined by the forces of demand and supply of the securities.
3. Buying and selling	Here, only buying of the securities take place.	Here, buying and selling of the securities, both take place.
4. Participants	Securities are sold by the company directly to the investors.	Securities are traded by the investors. Company is not involved in trading.

14. Explain the barriers of effective communication. (4)

Ans: The barriers to communication in an organization may be broadly categorized into following groups:

a. Physical Barriers: There are the environmental factors that also reduce the sending and receiving of communication, such as physical distance, noises and other interferences difficulty arises in communicating a message.

b. Socio-psychological or personal Barriers: There are certain socio psychological factors which restrict the free flow of communication. They are the attitude and opinions, status consciousness, ones relations with fellow workers, seniors, and junior’s etc. family background.

c. Organizational Barriers: Organisational barriers arise due to defects in the organization structure and the communication system of an organization. Such barriers include hierarchical distance, diversion, status barriers, goal conflicts etc.

d. Semantic Barriers: Semantic means the relationships of signs of their reference. Semantic barrier arises from the disadvantages of the symbolic system. Symbols have got number of meaning and one has to choose any one of them according to the requirement of communication.

e. Mechanical Barriers: Mechanical barriers include inadequate arrangement for transmission of news, facts and figures. Example poor office layout and defective procedure and the use of wrong media led to poor communication.

15. What is outsourcing? How is it distinguished from off-shoring? (4)

Buy Full Assignment @ Rs. 30

Finally, you reached at the end of the post. Hope you are satisfied with BCOC 132 Solved Assignment 2022 – 23. Visit official website of IGNOU to download IGNOU BCOM assignment papers.

***

BCOC 132 Solved Assignment 2022 – 23

IGNOU BCOMG – 1st Semester

COURSE CODE: BCOC 132 Business Organisation and Management

TUTOR MARKED ASSIGNMENT B. COMG 1st SEM

ASSIGNMENT CODE: BCOC-132/TMA/2022-23

BCOC 132 Solved Assignment 2022 – 23

Section-B

(This section contains medium answer questions of 6 marks each)

BCOC 132 Solved Assignment 2022 – 23

Section-C

(This section contains short answer questions of 4 marks each)

Related posts:

Leave a Comment Cancel reply

TUTOR MARKED ASSIGNMENT B. COMG 1^stSEM