The Business Studies course curriculum for Grade XI for home tuitions has been introduced keeping the NCERT and CBSE syllabus in mind. The Business Studies home tutors teach it while going along with the school syllabus. Tentative session wise Business Studies course curriculum for class XI is as following:
- Concept and characteristics of business.
- Business, profession and employment - Meaning and their distinctive features.
- Objectives of business, Classification of business activities: Industry and Commerce.
- Industry - types: primary, secondary, tertiary Commerce - trade: types (internal, external, wholesale and retail; and auxiliaries to trade: banking, insurance, transportation, warehousing, communication, and advertising, Business risks - Meaning, nature and causes. Forms of Business organizations, Sole Proprietorship - meaning, features, merits and limitations, Partnership - Features, types, merits and limitations of partnership and partners, registration of a partnership firm, partnership deed. Type of partners.
- Hindu Undivided Family Business: features.
- Cooperative Societies- features, types, merits and limitations. Company: private and public company -features, merits and limitations.
- Formation of a company
- Private sector and public sector enterprises, Forms of public sector enterprises: features, merits and limitations of departmental undertakings, statutory corporation and Government Company, Changing role of public sector enterprises. Global enterprises, Joint ventures, Public Private Partnership - Features, Business Services, Banking: Types of bank accounts- savings, current, recurring, fixed deposit and multiple option deposit account. Banking services with particular reference to issue of bank draft, banker's cheque (pay order), RTGS (Real Time Gross Settlement) NEFT (National Electronic Funds Transfer), bank overdraft, cash credits and e- banking.
- Insurance: principles, concept of life, health, fire and marine insurance.
- Postal and telecom services: mail (UPC, registered post, parcel, speed post and courier) and other services. Emerging Modes of Business
- E-business - scope and benefits, resources required for successful e-business implementation, online transactions, payment mechanism, security and safety of business transactions.
- Outsourcing-concept, need and scope of BPO (business process outsourcing) and KPO (knowledge process outsourcing).
- Concept of social responsibility, Case for social responsibility, Responsibility towards owners, investors, consumers, employees, government and community, Environment protection and business, Sources of Business Finance
- Concept of business finance, Owner’s funds - equity shares, preference share, GDR, ADR, IDR and retained earnings, Borrowed funds: debentures and bonds, loan from financial institution, loans from commercial banks, public deposits, trade credit, ICD (inter corporate deposits).
- Small scale enterprise as defined by MSMED Act 2006 (Micro, Small and Medium Enterprise Development Act).Role of small business in India with special reference to rural areas. Government schemes and agencies for small scale industries: (National Small Industries Corporation) and DIC (District Industrial Center) with special reference to rural, backward and hilly areas.Internal Trade
- Services rendered by a wholesaler and a retailer
- Types of retail - trade - Itinerant and small scale fixed shops Large scale retailers - Departmental stores, chain stores, mail order business concept of automatic vending machine
- Basic functions Main documents used in internal trade: Performa invoice, invoice, debit note, credit note. LR (Lorry receipt) and RR (Railway Receipt)
- Terms of Trade: COD (Cash on Delivery), FOB (Free on Board), CIF (Cost, Insurance and Freight), E&OE (Errors and Omissions Excepted), International Trade
- Meaning, difference between internal trade and external trade: Meaning and characteristics of international trade. Problems of international trade: Advantages and disadvantages of international trade
- Export Trade - Meaning, objective and procedure Import Trade - Meaning, objective and procedure: Meaning and functions of import trade; purpose and procedure
- Documents involved in International Trade; export trade, indent, letter of credit, shipping order, shipping bills, mate's receipt, bill of lading, certificate of origin, consular invoice, documentary bill of exchange (DA/DP), specimen, importance, World Trade Organization (WTO) meaning and objective
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