1st EDITION

YEAR 2021-22

ISB N

"978-93-5463-578-6"

CENTRAL BOARD OF SECONDARY EDUCATION DELHI

SYLLABUS COVERED

PUBLISHED BY OSWAAL BOOKS & LEARNING PVT. LTD.

C OP YR IG HT

RESERVED

1/11, Sahitya Kunj, M.G. Road, Agra - 282002, (UP) India

BY THE PUBLISHERS

All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without written permission from the publishers. The author and publisher will gladly receive information enabling them to rectify any error or omission in subsequent editions.

1/1, Cambourne Business Centre Cambridge, Cambridgeshire CB 236DP, United kingdom

0562-2857671 0562-2527781

[email protected]

www.OswaalBooks.com

D I S C L A I ME R Oswaal Books has exercised due care and caution in collecting all the data before publishing this

book. In spite of this, if any omission, inaccuracy or printing error occurs with regard to the data contained in this book, Oswaal Books will not be held responsible or liable. Oswaal Books will be grateful if you could point out any such error or offer your suggestions which will be of great help for other readers. Printed at Aadhya ( 2 ) Printers, Agra

TABLE OF CONTENTS  Latest CBSE Circular & Syllabus released on 22 July, 2021 for Academic Year 2021-22 (CBSE Cir. No. Acad 53/2021)

6 - 23

PART A – PRINCIPLES AND FUNCTIONS OF MANAGEMENT 1. Nature and Significance of Management (Term-I)

1 - 10

2. Principles of Management (Term-I)

11 - 19

3. Business Environment (Term-I)

20 - 26

4. Planning (Term-I)

27 - 32

5. Organising (Term-I)

33 - 40

6. Staffing (Term-II)

41 - 49

7. Directing (Term-II)

50 - 57

8. Controlling (Term-II)

58 - 62

PART B – BUSINESS FINANCE AND MARKETING 9. Financial Management (Term-II)

63 - 72

10. Financial Markets (Term-II)

73 - 81

11. Marketing (Term-I)

82 - 88

12. Consumer Protection (Term-II)

89 - 94

qq

(3)

(4)

PREPARING FOR THE CHANGE

"Progress is impossible without change, and those who cannot change their minds cannot change anything." – George Bernard Shaw. A lot has changed in the last couple of years. We have had to accept new ways of not just learning but also of living. To ensure that progress doesn't stop, online classes and remote learning gained prominence. These were unprecedented changes for most schools, yet we adapted to them pretty quickly. The main reason for it was that we want to move ahead; we don't want to be tied down by limitations and problems. Finding newer and better ways is vital for human progress.



The Special Scheme of Assessment recently introduced by the Central Board of Secondary Education (CBSE) is a fresh approach to ensure that the growth of students doesn't stop, even in the testing circumstances. It has ample flexibility and various assessment criteria to make up for a just evaluation system. Unlike previous years, the academic year will be divided into two terms. The first term will have only Multiple-Choice Questions of three types; Casebased, Assertion-Reason Types & Stand-alone MCQs. Unlike the traditional 3-hour paper, this will be a 90-minute test based on the 50% of the rationalized syllabus. The Second Term will be of 2-hour duration & have questions of different formats like Case-based/ Situation based, Open-ended, Short answer/Long answer type. This is an excellent example of positivity, ensuring that students don't get stressed and focus on learning specific areas instead of cramming loads of information. This scheme will also boost the attempts of our education system to move from 'quantity' to 'quality.' Also, with this scheme, students will be well prepared for Multiple Choice Questions, which are the most widely applicable & helpful type of test items like in NEET, JEE, CAT, CLAT, etc. These MCQ-type questions in the test will help the educators, parents & the students measure the most critical learning outcomes like knowledge, judgment, understanding of concepts & problem-solving.

How to prepare for the MCQs introduced in the Special Assessment Scheme? Oswaal CBSE MCQs Chapter-wise Question Banks (For Term I & II) are based on the "Special Assessment Scheme" introduced by the board on 5th July 2021 and also on the rationalised Term-wise syllabus released on 22nd July 2021. These Question Banks include: l Multiple

Choice Questions based on the latest Typologies introduced by the board like: 1. Stand-Alone MCQs 2. MCQs based on Assertion-Reason 3. Case-based MCQs l Questions from CBSE official Question Bank released in April 2021 l Competency based Questions-Understanding, Knowledge, Application, Evaluation and Creation. l Answers with Explanations Oswaal CBSE MCQs Chapter-wise Question Banks (For Term I & II) are specially curated by the Oswaal Editorial Board to help the student master the Multiple-Choice Questions. Wish you all Happy Learning and a Successful 2021-22!! (5)

CBSE CIRCULAR 2021-22 dsUæh; ek/;fed f'k{kk cksMZ

CENTRAL BOARD OF SECONDARY EDUCATION

NO.: F.1001/CBSE-Acad/Curriculum/2021

Date: July 22, 2021 Circular No: Acad- 53/2021

All the Heads of Schools affiliated to CBSE Subject:

Term wise syllabus for Board Examinations to be held in the academic session 2021-22 for Secondary and Senior Secondary classes and guidelines for the conduct of the Internal Assessment/Practicum/Project.

This is in continuation to Board’s circular number Acad 51/2021 dated July 05, 2021 regarding Special Scheme of Assessment for Board Examination for Classes X and XII for the Session 2021- 22. The syllabus for the two terms mentioned in the scheme in all subjects for classes IX to XII are hereby notified vides this circular. In addition to syllabus for term end board examinations, guidelines for the conduct of Internal Assessment/Practicum/Project are also enclosed. Schools are requested to share the term wise syllabus and guidelines for the conduct of board examinations and Internal Assessment / Practicum / Project available on CBSE Academic Website http://www.cbseacademic.nic.in at the link http://cbseacademic.nic.in/Term-wise-curriculum_2022.html with all their teachers and students.

(Dr. Joseph Emmanuel)

Director (Academics)

(6)

CBSE CIRCULAR 2021-22 dsUæh; ek/;fed f'k{kk cksMZ

CENTRAL BOARD OF SECONDARY EDUCATION CBSE/DIR (ACAD)/2021

Date: July 05, 2021 Circular No: A cad-51/2021

All the Heads of Schools affiliated to CBSE Subject: Special Scheme of Assessment for Board Examination Classes X and XII for the Session 2021-22 COVID 19 pandemic caused almost all CBSE schools to function in a virtual mode for most part of the academic session of 2020-21. Due to the extreme risk associated with the conduct of Board examinations during the second wave in April 2021, CBSE had to cancel both its class X and XII Board examinations of the year 2021 and results are to be declared on the basis of a credible, reliable, flexible and valid alternative assessment policy. This, in turn, also necessitated deliberations over alternative ways to look at the learning objectives as well as the conduct of the Board Examinations for the academic session 2021-22 in case the situation remains unfeasible. CBSE has also held stakeholder consultations with Government schools as well as private independent schools from across the country, especially schools from the remote rural areas and a majority of them have requested for the rationalization of the syllabus, similar to last year in view of reduced time permitted for organizing online classes. The Board has also considered the concerns regarding differential availability of electronic gadgets, connectivity and effectiveness of online teaching and other socio-economic issues, specially with respect to students from economically weaker sections and those residing in far flung areas of the country. In a survey conducted by CBSE, it was revealed that the rationalized syllabus notified for the session 2020-21, was effective for schools in covering the syllabus and helped learners in achieving learning objectives in a less stressful manner. In the above backdrop and in line with the Board’s continued focus on assessing stipulated learning outcomes by making the examinations competencies and core concepts based, student-centric, transparent, technology-driven and having advance provision of alternatives for different future scenarios, the following schemes are introduced for the Academic Session for Class X and Class XII, 2021-22. 1. Special Scheme for 2021-22 A. Academic Session to be divided into 2 Terms with approximately 50% syllabus in each term: The syllabus for the Academic Session 2021-22 will be divided into 2 terms by following a systematic approach by looking into the interconnectivity of concepts and topics by the Subject Experts and the Board will conduct examinations at the end of each term on the basis of the bifurcated syllabus. This is done to increase the probability of having the Board conducting classes X and XII examinations at the end of the academic session. B. The syllabus for the Board examination 2021-22 will be rationalized, similar to that of the last academic session to be notified in July 2021. For academic transactions, however, schools will

(7)

CBSE CIRCULAR 2021-22

follow the curriculum and syllabus released by the Board vide Circular no. F. 1001/CBSE-Acad/ Curriculum/2021 dated 31 March, 2021. Schools will also use alternative academic calendar and inputs from the NCERT on transacting the curriculum. C. Efforts will be made to make Internal Assessment/ Practical/ Project work more credible and valid as per the guidelines and Moderation Policy to be announced by the Board to ensure fair distribution of marks. 2. Details of Curriculum Transaction • Schools will continue teaching in distance mode till the authorities permit in- person mode of teaching in schools. • Classes IX-X: Internal Assessment (throughout the year-irrespective of Term I and II) would include the 3 periodic tests, student enrichment, portfolio and practical work/ speaking-listening activities/ project. • Classes XI-XII: Internal Assessment (throughout the year-irrespective of Term I and II) would include end of topic or unit tests/ exploratory activities/ practicals/ projects. • Schools would create a student profile for all assessments undertaken over the year and retain the evidences in digital format. • CBSE will facilitate schools to upload marks of Internal Assessment on the CBSE IT platform. • Guidelines for Internal Assessment for all subjects will also be released along with the rationalized term wise divided syllabus for the session 2021-22. The Board would also provide additional resources like sample assessments, question banks, teacher training, etc., for more reliable and valid internal assessments. 3. Term I Examinations: • At the end of the first term, the Board will organize Term I Examination in a flexible schedule to be conducted between November-December 2021 with a window period of 4-8 weeks for schools situated in different parts of country and abroad. Dates for conduct of examinations will be notified subsequently. • The Question Paper will have Multiple Choice Questions (MCQs) including case-based MCQs and MCQs on assertion-reasoning type. Duration of test will be 90 minutes and it will cover the rationalized syllabus of Term I only (i.e., approx. 50% of the entire syllabus). • Question Papers will be sent by the CBSE to schools along with marking scheme. • The exams will be conducted under the supervision of the External Center Superintendents and Observers appointed by CBSE. • The responses of students will be captured on OMR sheets which, after scanning may be directly uploaded at CBSE portal or alternatively may be evaluated and marks obtained will be uploaded by the school on the very same day. The final direction in this regard will be conveyed to schools by the Examination Unit of the Board. • Marks of the Term I Examination will contribute to the final overall score of students. 4. Term II Examination/ Year-end Examination: • At the end of the second term, the Board would organize Term II or Year-end Examination based on the rationalized syllabus of Term II only (i.e., approximately 50% of the entire syllabus). • This examination would be held around March-April 2022 at the examination centres fixed by the Board.

(8)

CBSE CIRCULAR 2021-22 • The paper will be of 2 hours duration and have questions of different formats (case-based/ situation based, open ended- short answer/ long answer type). • In case the situation is not conducive for normal descriptive examination, a 90 minute MCQs based exam will be conducted at the end of the Term II also. • Marks of the Term II Examination would contribute to the final overall score. 5. Assessment / Examination as per different situations A. In case the situation of the pandemic improves and students are able to come to schools or centres for taking the exams. Board would conduct Term I and Term II examinations at schools/centres and the theory marks will be distributed equally between the two exams. B. In case the situation of the pandemic forces complete closure of schools during NovemberDecember 2021, but Term II exams are held at schools or centres. Term I MCQ based examination would be done by students online/offline from home - in this case, the weightage of this exam for the final score would be reduced, and weightage of Term II exams will be increased for declaration of final result. C. In case the situation of the pandemic forces complete closure of schools during March-April 2022, but Term I exams are held at schools or centres. Results would be based on the performance of students in Term I MCQ based examination and internal assessments. The weightage of marks of Term I examination conducted by the Board will be increased to provide year end results of candidates. D. In case the situation of the pandemic forces complete closure of schools and Board conducted Term I and II exams are taken by the candidates from home in the session 2021-22. Results would be computed on the basis of the Internal Assessment/ Practical/ Project Work and Theory marks of Term-I and II exams taken by the candidate from home in Class X / XII, subject to the moderation or other measures to ensure validity and reliability of the assessment. In all the above cases, data analysis of marks of students will be undertaken to ensure the integrity of internal assessments and home based exams.

(Dr. Joseph Emmanuel)

Director (Academics)

(9)

SYLLABUS Latest Syllabus for Academic Year (2021-22) BUSINESS STUDIES (Code No. 054) CLASS–XII (TERM WISE CURRICULUM)

Theory : 40 Marks Units Part A

TERM 1- MCQ BASED QUESTION PAPER

Time : 1.30 Hours

Periods

Marks

PRINCIPLES AND FUNCTIONS OF MANAGEMENT

1.

Nature and Significance of Management

12

2.

Principles of Management

11

3.

Business Environment

08

4.

Planning

08

5.

Organising

10

14

49

30

Total Part B 11.

BUSINESS FINANCE AND MARKETING Marketing Management

24

Total

24

10

73

40

Total Part C

16

PROJECT WORK (PART 1)

10

10

TERM 1 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

l Understand

Management as Science, Art and Profession

l Examine

Levels of Management

l Understand

Management functions-planning, organizing, staffing, directing and controlling

l

Coordination- concept and importance

l

the concept of management. l Explain the meaning of ‘Effectiveness and Efficiency’. l Discuss the objectives of management. l Describe the importance of management. the nature of management as a science, art and profession. the role of top, middle and lower levels of management

Explain the functions of management

Discuss the concept and characteristics coordination. l Explain the importance of coordination.

( 10 )

of

SYLLABUS Unit 2 : Principles of Management Principles of Management- concept and significance.

l Understand

the concept of principles of management. l Explain the significance of management principles.

Fayol’s principles of management

l Discuss

the principles of management developed by Fayol.

Taylor’s Scientific Management - principles and l Explain the principles and techniques ‘Scientific Management’.

techniques

of

Unit 3 : Business Environment Business Environment- concept and importance

l

Understand the concept of ‘Business Environment’. l Describe the importance of Business environment.

Dimensions of Business Environment- Economic, Social, Technological, Political and Legal

l Describe

the various dimensions of ‘Business Environment’.

Unit 4: Planning Planning: Concept, importance and limitation

l

Understand the concept of planning. l Describe the importance of planning. l Understand the limitations of planning.

Planning process

l Describe

the steps in the process of planning.

Unit 5 : Organising Organising: Concept and importance

l Understand

the concept of organizing as a structure and as a process. l Explain the importance of organising.

Organising Process

l

Describe the steps in the process of organising.

Structure of organisation- functional and divisional l Describe functional and divisional structures of concept. organisation. Delegation : concept, elements and importance

l l l

Understand the concept of delegation. Describe the elements of delegation. Appreciate the importance of delegation.

Decentralization: concept and importance

l l l

Understand the concept of decentralisation. Explain the importance of decentralisation. Differentiate between delegation and decentralisation.

Part B: Business Finance and Marketing Unit 11 : Marketing Marketing – concept, functions and philosophies - l Understand the concept of marketing. Product, Prize and Standard l Discuss the functions of marketing. l Explain the marketing philosophies. Marketing Mix – concept and elements

l Understand the concept of marketing mix. l Describe the elements of marketing mix.

Product - branding, labelling and packaging – concept

l Understand

the concept of product as an element of marketing mix. l Understand the concepts of branding, labelling and packaging.

( 11 )

SYLLABUS Price - Concept, factors determining price Physical Distribution – concept

l Understand

the concept of price as an element of marketing mix. l Describe the factors determining price of a product. l Understand

the concept of physical distribution.

Promotion – concept and elements; Advertising, l Understand the concept of promotion as an Personal Selling, Sales Promotion and Public element of marketing mix. Relations l Describe the elements of promotion mix. l Understand the concept of advertising and personal selling l Understand the concept of sales promotion. l Discuss the concept of public relations.

PROJECT WORK IN BUSINESS STUDIES (ONLY ONE PROJECT): GUIDELINES AS GIVEN IN CLASS XII CURRICULUM

BUSINESS STUDIES (Code No. 054) CLASS–XII (TERM WISE CURRICULUM)

Theory : 40 Marks Units Part A

TERM 2 - SUBJECTIVE QUESTION PAPER

Periods

Marks

PRINCIPLES AND FUNCTIONS OF MANAGEMENT

6

Staffing

13

7

Directing

09

8

Controlling

07 Total

Part B

Time : 2 Hours

29

20 20

BUSINESS FINANCE AND MARKETING

9

Financial Management

20

10

Financial Markets

18

12

Consumer Protection

05

5

Total

43

20

72

40

Total Part C

PROJECT WORK (PART 2)

15

10

TERM 2 art B : Principles and Functions of Management P Unit 6 : Staffing Concept

After going through this unit, the student/ learner would be able to :

Staffing: Concept and importance

l Understand l Describe

Understand the concept of staffing. the steps in the process of staffing.

Staffing process

l Describe

the steps in the process of staffing.

Recruitment process

l Understand

the meaning and steps in the process of recruitment.

( 12 )

SYLLABUS Selection – process

l l

Training and Development - Concept and importance, Methods of training - on the job and off the job - vestibule training, apprenticeship training and internship training

Understand the meaning of selection. Describe the steps involved in the process of selection.

Understand the concept of training and development. l Appreciate the importance of training to the organisation and to the employees. l Discuss on the job and off the job methods of training. l Discuss the meaning of vestibule training, apprenticeship training and internship training. l Differentiate between training and development. l

Unit 7: Directing Directing: Concept and importance

l l

Describe the concept of directing. Discuss the importance of directing.

Elements of Directing

l

Describe the various elements of directing.

Motivation - concept, Maslow’s hierarchy of needs, Financial and non-financial incentives

l l

Leadership - concept, styles - authoritative, democratic and laissez faire

l l

Communication - concept, formal and informal communication;

l Understand the concept of l Discuss the concept of

Understand the concept of motivation. Develop an understanding of Maslow’s Hierarchy of needs. l Discuss the various financial and non-financial incentives. Understand the concept of leadership. Understand the various styles of leadership.

communication.

communication formal and informal

Unit 8: Controlling Controlling - Concept and importance

l

Understand the concept of controlling. l Explain the importance of controlling.

Steps in process of control

l Discuss

the steps in the process of controlling.

Part B: Business Finance and Marketing Unit 9: Financial Management Financial Management: Concept, role and objectives

l Understand the concept of financial management. l Explain the role of financial management in an

organisation. the objectives of financial management

l Discuss

Financial decisions: investment, financing and dividend- Meaning and factors affecting

l Discuss

the three financial decisions and the factors affecting them.

Financial Planning - concept and importance

l Describe the concept of financial planning. l Explain the importance of financial planning.

Capital Structure – concept and factors affecting l Understand the concept of capital structure. capital structure l Describe the factors determining the choice of an appropriate capital structure of a company.

( 13 )

SYLLABUS Fixed and Working Capital - Concept and factors l Understand the concept of fixed and working affecting their requirements capital. l Describe the factors determining the requirements of fixed and working capital.

Unit 10: Financial Markets Financial Markets: Concept, Functions and types

l Understand the concept of the financial market. l Explain the functions of the financial market. l Understand capital market and money market as

types of financial markets.

Money market and its instruments

l Understand the concept of the money market. l Describe the various money market instruments.

Capital market: Concept, types (primary and l Discuss the concept of capital market. secondary), methods of floatation in the primary l Explain primary and secondary markets as types market of capital market. l Differentiate between capital market and money market. l Discuss the methods of floating new issues in the primary market. l Distinguish between primary and secondary markets. Stock Exchange – Meaning, Functions and trading l Give the meaning of a stock exchange. procedure l Explain the functions of a stock exchange. l Discuss the trading procedure in a stock exchange. l Give the meaning of depository services and demat account as used in the trading procedure of securities. Securities and Exchange Board of India (SEBI) - l State the objectives of SEBI. objectives and functions l Explain the functions of SEBI.

Unit 12: Consumer Protection Concept and importance of consumer protection

l Understand the concept of consumer protection. l Describe the importance of consumer protection l Discuss the scope of Consumer Protection Act,

2019

The Consumer Protection Act, 2019: Source: http://egazette.nic.in/WriteReadData/2 019/210422.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. l Describe Explain the consumer rights l Understand the responsibilities of consumers l Understand who can file a complaint and against whom? l Discuss the legal redressal machinery under Consumer Protection Act, 2019. l Examine the remedies available to the consumer under Consumer Protection Act, 2019s

( 14 )

SYLLABUS PROJECT WORK IN BUSINESS STUDIES (ONLY ONE PROJECT): GUIDELINES AS GIVEN IN CLASS XII CURRICULUM Unit 13 : Project Work GUIDELINES FOR PROJECT WORK IN BUSINESS STUDIES IN CLASSES XI & XII MARKS: 20 Marks (10 + 10 MARKS FOR TERM 1 AND TERM 2) 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. One Project to be done throughout the session, as per the existing scheme. 1. The objectives of the project work: Objectives of project work are to enable learners to: l probe deeper into personal enquiry ,initiate action and reflect on knowledge and skills, views etc. acquired during the course of class XI-XII . l analyse and evaluate real world scenarios using theoretical constructs and arguments l demonstrate the application of critical and creative thinking skills and abilities to produce an independent and extended piece of work l follow up aspects in which learners have interest l develop the communication skills to argue logically 2. Role of the teacher: The teacher plays a critical role in developing the thinking skills of the learners. A teacher should: l help each learner select the topic after detailed discussions and deliberations of the topic; l play the role of a facilitator to support and monitor the project work of the learner through periodic discussions; l guide the research work in terms of sources for the relevant data; l ensure that students must understand the relevance and usage of primary evidence and other sources in their projects and dul l ensure that the students are able to derive a conclusion from the content; cite the limitations faced during the research and give appropriate references used in doing the research work. l educate learners about plagiarism and the importance of quoting the source of the information to ensure authenticity of research work. ( 15 )