Samacheer Kalvi 11th Commerce Solutions Chapter 16 Emerging Service Business in India

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Samacheer Kalvi 11th Commerce Solutions Chapter 16 Emerging Service Business in India

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Samacheer Kalvi 11th Commerce Emerging Service Business in India Textbook Exercise Questions and Answers

I. Choose the Correct Answer

Question 1.
A continuing relationship which provides a licence privileges do business and provides training, merchandising for a consideration is called …………….
(a) Franchising
(b) Factoring
(c) supply chain management
(d) Exchange
Answer:
(a) Franchising

Question 2.
A condition were a factors agrees to provide complete set of services like financing, debt collection, consultancy is called …………….
(a) Maturity factoring
(b) National factoring
(c) Full service factoring
(d) Recourse factoring
Answer:
(c) Full service factoring

Question 3.
Buying and selling ofgoods through electronic network is known as …………….
(a) E – commerce
(b) Internet
(c) Website
(d) Trade
Answer:
(a) E – commerce

Question 4.
An organization carrying out activities to move goods from producer to consumer is …………….
(a) Transport
(b) Logistics
(c) Channels
(d) Marketing
Answer:
(a) Transport

Question 5.
The role of government in logistics management is through …………….
(a) Legislations
(b) Governance
(c) Transport
(d) Distribution
Answer:
(d) Distribution

Question 6.
The main benefit of Logistics is …………….
(a) productivity
(b) Cost minimisation
(c) Profitability
(d) Storage
Answer:
(b) Cost minimisation

Question 7.
What aims for an effective management response over the longer run …………….
(a) Logistics
(b) Supply Chain Management
(c) Demand
(d) Supply
Answer:
(a) Logistics

Question 8.
The model that identifies alternatives, criteria for decision making and analyse alternatives to arrive at the best choice is …………….
(a) Routing model
(b) Scheduling model
(c) Inventory model
(d) Alternative Analysis
Answer:
(b) Scheduling model

Question 9.
A company under outsourcing transfers activities which are …………….
(a) Core
(b) Non – Core
(c) Business
(d) Non – Business
Answer:
(b) Non – Core

Question 10.
Business units can reduce expenditure by outsourcing front office work like ……………..
(a) Paper work
(b) file work
(c) Billing
(d) manufacture
Answer:
(b) file work

Question 11.
The main benefit of outsourcing is …………….
(a) Productivity
(b) Cost reduction
(c) Skill
(d) Units
Answer:
(b) Cost reduction

Question 12.
Outsourcing job is given to developing countries specifically for …………….
(a) Cheap labour
(b) Land
(c) Capital
(d) Factors
Answer:
(a) Cheap labour

Question 13.
Outsourcing is carried out for the benefit of …………….
(a) Global village
(b) Transport
(c) Factory
(d) Time and money
Answer:
(d) Time and money

II. Very Short Answer Questions

Question 1.
Who is a franchisee?
Answer:
The individual who acquires the right to operate the business or use the trademark of the seller is known as tire franchisee.

Question 2.
State two disadvantages of franchising?
Answer:
Franchising fees: The initial franchising fee and the subsequent renewal fee can be very high in case of successful businesses. From the franchisee’s point of view, this may be a deterrent. Fixed royalty payment: The franchisee has to make payment of royalty to the franchiser on a regular basis. This considerably reduces the income of the franchisee.

Question 3.
Who is a factor?
Answer:
The factor is an agent who buys the accounts receivables (Debtors and Bills Receivables) of a firm and provides finance to a firm to meet its working capital requirements.

Question 4.
Define outsourcing.
Answer:
BPO refers to outsourcing the work.which is routine in nature, to an outside agency.

Question 5.
What is need for outsourcing?
Answer:

  1. To focus on key function
  2. Benefit of specialization / efficiency
  3. Cost cutting
  4. Economic growth and development
  5. Increasing profit
  6. Catering to the dynamic demand

Question 6.
State the importance of BPO.
Answer:
BPO means getting contractual services of external companies or group of companies to complete special work or process of a company. For example call centres, data entry etc. This reduces the expenditure by using cheap labour available in developing countries like India, China etc.

Question 7.
What are the benefits of KPO?
Answer:
In short, KPO firms get knowledge related, information related, work done from outside firm and it involves high value work carried highly skilled staff.

Question 8.
Define Logistics.
Answer:
Logistics can be viewed as a logical extension of transportation and related areas to achieve an efficient and effective goods distribution system.

Question 9.
What is the need for Logistics?
Answer:
Logistics Management is defined as ‘Design and operation of the physical, managerial, and informational systems needed to allow goods to overcome time and space (from the producer to the consumer)’.

Question 10.
Write about the importance of Logistics.
Answer:
Organisations taking proactive managerial attention in coordinating the actors in logistics leads to reduced logistics costs and improved customer service.

Question 11.
What are the types of Logistics Applications?
Answer:

  1. Decision – wise
  2. Actor – wise
  3. Inbound logistics
  4. Outbound logistics.

Question 12.
What do you mean by E – commerce?
Answer:
E – commerce or Electronic commerce is the buying and selling of goods and services through electronic networks like internet.

III. Short Answer Questions

Question 1.
What are the types of franchising?
Answer:

  1. Product /trade name franchising: In this type, the franchisee exclusively deals with a manufacture’s product, example Kidzee, French Loaf outlets.
  2. Business format franchising: When a franchisor awards rights covering all business aspects as a complete business package to the franchisee it is called as business format franchising, example McDonald’s, Pizza Hut.

Question 2.
List the steps in the factoring process.
Answer:

  1. The firm enters into a factoring arrangement with a factor, which is generally a financial institution, for invoice purchasing.
  2. Whenever goods are sold on credit basis, an invoice is raised and a copy of the same is sent to the factor.
  3. The debt amount due to the firm is transferred to the factor through assignment and the same is intimated to the customer.

Question 3.
Describe the benefits of Logistics.
Answer:
Generally a good transportation, storage, handling and information infrastructure helps in efficient logistics management. All firms are viewed as a collection of primary and secondary activities,

Question 4.
Explain the points of differences between Logistics and Supply Chain Management.
Answer:
Logistics:
Logistics Management deals with the efficient management of a static gap between demand and supply.

Supply Chain Management:
Supply Chain Management tries to identify the dynamic nature of the value creation itself such as responsiveness, quality and design. Hence, it aims for an effective management response over the longer run.

Question 5.
What is the impact of e-commerce on buyers?
Answer:

  1. Buyers could have a global access to information about variety of products and services available in the market.
  2. They could buy the products/services round the clock from anywhere in the world.
  3. The prices of products bought through e-commerce tend to be relatively lower than those purchased physically in the conventional shops due to offers, discount etc.

IV. Long Answer Questions

Question 1.
Enumerate the characteristics of franchising.
Answer:

  1. Franchise relationship is based on an agreement which lays down terms and conditions of this relationship.
  2. The term of franchise may be for 5 years or more. The franchise agreement may be renewed with the mutual consent of the parties.
  3. The franchisee gives an undertaking not to carry any other competing business during the term of the franchise; and the franchiser gives an undertaking not to terminate the franchise agreement before its expiry except under situations which may justify the termination of the franchise agreement.
  4. The franchisee agrees to pay specified royalty to the franchiser, as per terms of the franchise agreement.
  5. Franchise means selling the same product and maintaining a similar type of shop decor (i.e. style of interior decoration) for which franchiser provides assistance to franchisee in organising, merchandising and management.

Question 2.
Elucidate the features of factoring.
Answer:

  1. Maintenance of book – debts : A factor takes the responsibility of maintaining the accounts of debtors of a business institution.
  2. Credit coverage : The factor accepts the risk burden of loss of bad debts leaving the seller to concentrate on his core business
  3. Cash advances : Around eighty percent of the total amount of accounts receivables is paid, as advance cash to the client.
  4. Collection service : Issuing reminders, receiving part-payments, collecting of cheques from part of the factoring service.
  5. Advice to clients : From the past history of debtors, the factor is able to provide advises regarding the credit worthiness of customers, perception of customers about the products of the client, etc.

Question 3.
Describe the benefits of Outsourcing.
Answer:
1. Focusing on Core Activities : Companies can focus on their core competence, a few areas , where the company has distinct capability. The rest of the activities (non – core) can be outsource to outside agencies.

2. To Fillip Economic Development : Outsourcing stimulates entrepreneurship, encourages employment opportunities, expands exports, enables tremendous growth of the economy.

3. Encourages Employment Opportunities : Companies that are outsourcing their non core activities provide chances for other small business units to take up the activities. This paves way for more job opportunities and new employment avenues.

4. Reduction in Investment : Companies through outsourcing avails the services of outsiders which in turn reduces the investment requirements. The amount so available can be utilized productively and this increases the profits.

5. Quest for Excellence : Outsourcing enables the firms to pursue excellence in two ways namely excelling themselves in the activities they do and excel outsiders by extending their capabilities through contracting out.

Question 4.
Explain the points of differences between BPO and KPO.
Answer:
BPQ:

  • BPO means getting contractual services of external companies or group of companies to complete special work or process of a company.
  • For example call centres, data entry etc. This reduces the expenditure by using cheap labour available in developing countries like India, China, etc.
  • To focus on key function.
  • The benefit of specialization/efficiency.
  • Cost-cutting.

KPO:

  • KPO refer to outsourcing of Knowledge-based Process! It means obtaining high end knowledge work from outside the organization in order to run the business successfully and in a cost-effective manner.
  • In short KPO firms get knowledge related, information related, work done from outside firm and it involves high value work carried highly skilled staff.
  • Usage of best skills.
  • The ultimate use of knowledge.
  • Finding solution to complex problem.

Question 5.
Write a note on e-commerce models.
Answer:
1. Business to customers (B2C):
This is the fastest-growing segment in e-commerce spare. Under this model, business concern sells directly to consumers.

2. Business to Business (B2B):
Under the model, business concerns transact with one another through internet. For instance, Snapdeal, Flipkart, Alibaba, Indiamart, Tradelndia.com etc.

3. Consumer to consumer (C2C):
Under this model, customers sell directly to other customers through online classified advertisement or through auction or through mobile or through market places. Example, Indian ventures in C2C are Kraftly App (buying and selling anythings) which deals in handmade products of a wide range. Onceagainstore.com is a website that buys pre-owned women’s fashion products. Other players are Quikr, OLX, ebay, etc.

4. Customer to Business (C2B):
This model is reverse to the auction model. Products like automobile, electronic items furniture and similar product are traded by customer through websites. Naukri.com and Monster.com are examples of Indian Companies operating in this domain.

5. Business to Government (B2G):
This model envisages selling products and services by the business consumer to Government organization. For instance TCS operates the passport application process for the Government of India as part off – line process.

Samacheer Kalvi 12th Commerce Emerging Service Business in India Additional Questions and Answers

I. Choose the Correct Answer:

Question 1.
The individual who uses the trademark of the seller is known as ………….
a) Franchisee
b) Franchisor
c) Agent
d) Factor
Answer:
a) Franchisee

Question 2.
There are …………….. types of franchising primarily.
(a) One
(b) Two
(c) Three
(d) Four
Answer:
(b) Two

Question 3.
The efficient management of the static gap between demand and supply is considered by …………
a) Logistics Management
b) Factors
c) franchise management
d) forfaiting
Answer:
a) Logistics Management

Question 4.
…………….. focuses on profit maximization rather than cost-minimizing.
(a) SMC
(b) LM
(c) Transportation
(d) GST
Answer:
(a) SMC

Question 5.
Recently a new type of business in the service sector is called ……………..
(a) BPO
(b) core
(c) non – core
(d) gardening
Answer:
(a) BPO

Question 6.
Business to Business (B2B) ……………..
(a) Snapdeal
(b) Monster.com
(c) TCS
(d) ebay
Answer:
(a) Snapdeal

Question 7.
Customer to Business (C2B) ……………..
(a) Flipkart
(b) Indiamart
(c) Olx
(d) Naukri.com
Answer:
(d) Naukri.com

II. Very Short Answer Questions

Question 1.
Who is a Franchisor?
Answer:
The owner of a business who provides the franchise is known as the franchisor.

Question 2.
What do you mean by Business to Customers (B2C)?
Answer:
This is a faster-growing segment in e-commerce spare. Under this model, business concern sells directly to customers.

Question 3.
What are all the points to be considered for the examination of an integrated system which involves logistics management. (Any Five)
Answer:

  1. Product Design,
  2. Plant Location,
  3. Production Structure,
  4. Allocation Design,
  5. Production Planning.

III. Short Answer Questions

Question 1.
Write a note on the Key Actors in Logistics Management:
Answer:
Shippers (Users of logistics), Suppliers (of logistics services), Carriers(rail, road, air, water, pipeline, rope-way), Warehouse Providers, Freight Forwarders, Terminal Operators (ports, stevedores, etc), Government (regulator of logistics)

Question 2.
What is the impact of E-Commerce on Vendors?
Answer:

  • Vendors could have wider access to customers across the globe.
  • This helps to minimize the cost of operating
  • business due to direct distribution of goods to end consumers thanks to the minimum invention of intermediaries.
  • The vendor could interact with multiple buyers and sellers.
  • Business concerns could orient marketing efforts towards targeted customers.

For Future Learning

Question a.
You are a small scale manufacturer of ignition coils for automobiles, located near Ranipet. Explain how will you avail of financial credits through factoring if you get orders from
a. Ford India, Chennai
b. Maruti Suzuki, Gurgaon
c. Kun Hyundai, Seoul

Answer:
a. I can show the sources of business to get credit.

b.

  • To identify the activities involved in the movement of goods – Trade
  • To analyze the benefits of Logistics – Transport
  • To evaluate the areas which need more focus relating to Logistics – Kinds of transport
  • To understand critically and analyse the impact of Logistics on Profitability – To reduce cost and improve customer service.

c.

  • To identify the core activities of any business – Companies can focus on their core competence.
  • To analyse the benefits of Outsourcing non – core items – Outsource to outside agents.
  • To evaluate the areas which needs KPO – KPO firm get knowledge related, information related work done from outside firm.
  • To understand critically and analyze the impact of call centers

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