CBSE Class 12 Business Studies Syllabus 2020-21
CBSE Class 12 Business Studies Syllabus 2020-21 comprises two parts i.e. Part A & Part B. Part A syllabus deals with the principles and functions of management. The significant chapters of Part A are nature and significance of management, business environment, principles of management, planning, organising, staffing, directing, and controlling. Part B syllabus deals with business finance and marketing. Some significant chapters included in Part B are financial management, financial markets, marketing management and consumer protection.
Let’s have a look at the chapter-wise CBSE syllabus for Class 12th Business Studies Principles and Functions of Management and Business Finance and Marketing.
CBSE Syllabus for Class 12 Business Studies 2020-21
CBSE Class 12 syllabus for Business Studies consists of 2 parts, namely Principles and Functions of Management (Part A) and Business Finance and Marketing (Part B). Part A comprises 8 chapters, and Part B consists of 4 chapters.
CBSE Class 12 Business Studies Part A (Principles and Functions of Management) Syllabus
Chapter 1: Nature and Significance of Management
Nature and Significance of Management of Class 12 Business Studies Syllabus explains to you about the objectives of management, management as an art, science and profession, levels of management, and functions of management. It also explains to you about how coordination is the essence of management, how nature of management is a universal process, the factor of production, goal-orientation, supreme in thought and action, the system of authority, profession and process.
The chapter also gives you an idea about the significance of management. It teaches how management helps in achieving group goals, increasing efficiency, creating dynamic organization, achieving personal objectives and developing the society. It also throws light on the features of management such as management is a goal-oriented method; management is all common; management is a perpetual process; management is intangible energy and management is a group activity.
Chapter 2: Principles of Management
Principles of Management of Class 12 Business Studies educate you on nature and significance of principles of management, principles of scientific management, and techniques of scientific management. It also explains to you about the importance of understanding the principles of management. It talks vividly about how the principles of management provide managers with useful insights into reality, helps in optimum utilization of resources and effective administration, facilitates scientific decisions, and helps in meeting changing business environments, fulfilling social responsibility and conducting management training, education and research.
Further, you will also learn about the features of principles of management and its general guidelines. Here you will learn that the principles of management have universal validity, are formed by practice and experimentation, are contingent, are flexible, are based on causes and effect and are mainly behavioural. This chapter also teaches you about the principles of management developed by Fayol.
Chapter 3: Business Environment
Business Environment of Class 12 Business Studies Syllabus, introduces to dimensions of the business environment, the economic environment in India, the importance of the business environment. It teaches you how the business environment helps in identifying opportunities and making first-mover advantage, how it helps the firm identify threats and early warning signals, how it helps in tapping useful resources, how it helps in coping with rapid changes, how it assists in planning and policy formulation and how it helps in improving performance.
Further, you will also learn about the features of the business environment. Some of them include a totality of external forces, specific and general forces, inter-relatedness, dynamic nature, uncertainty, complexity and relativity. Here you will also learn about the types of entrepreneurship, marketing mix and stock exchange.
Chapter 4: Planning
Planning of CBSE Class 12th Business Studies Syllabus, explains to you the meaning, features and limitations of planning, the planning process, the importance of planning. It tells you how planning provides directions, how planning decreases the change of risk, how planning decreases overlapping and wasteful activities, how planning encourages innovative ideas and how planning aids decision making. It also throws light on how planning helps in setting standards for controlling and how it reduces risks of uncertainty.
It also talks in detail about various types of a plan such as single-use plans and standing plans. Further, it tells us that planning is futuristic, planning is continuous, planning involves decision making, planning is a primary function of management, planning focuses on achieving goals and objectives, planning is pervasive and planning is a mental exercise.
Chapter 5: Organising
Organising of Class 12 Business Studies Syllabus educates you about the meaning organising and the process of organizing. The process involves identification and division of work, departmentalisation, assignment of duties and establishing reporting relationships. This chapter also covers the importance of organizing. It tells you organising helps to reap the benefits of specialisation, helps achieve clarity in working relationships, ensures optimum utilisation of resources, facilitates adaptation of change, ascertains effective administration, ensures the development of personnel and leads to expansion and growth.
Here, you will also learn about organisational structure and types of organisation structure, such as functional structure and divisional structure. This chapter also teaches you about the advantages, disadvantages and suitability of organisation structure, informal organisation, the delegation of authority, the importance of delegation, elements of delegation, decentralisation and importance of decentralisation.
Chapter 6: Staffing
Staffing of Class 12 Business Studies introduces you to the meaning of staffing, the importance of staffing, staffing as part of human resource management, activities of human resource management such as human resource planning, recruitment, selection and placement, training and development, career growth, performance appraisal, motivation, compensation and social security. \
It also throws light on various internal and external sources of recruitment, their advantages, drawbacks and methods. It also teaches you various benefits of training for organisations, benefits of training for employees and various training methods.
Chapter 7: Directing
Directing of CBSE Class 12 Business Studies Syllabus explains you directing, characteristics of directing, characteristics of directing, the importance of directing, principles of directing, elements of staffing, supervision, the importance of supervision, motivation, interrelated teams of motivation, characteristics of motivation, the process of motivation and importance of motivation.
Further, you will also come across Maslow’s need Hierarchy, assumptions of Maslow’s need hierarchy theory, financial and non-financial incentives, leadership, features of leadership, different styles of leadership, the importance of leadership, qualities of a good leader, meaning of communication, communication process, the importance of communication, the form of organisational communication. It also teaches you about formal communication and informal communication and various methods of communication.
Chapter 8: Controlling
Controlling chapter of Class 12 Business Studies educates you of the meaning of controlling and the importance of controlling. It tells you how controlling helps in achieving organisational goods, judging the accuracy of standards, making efficient use of resources, improving employee motivation, ensures order and discipline, facilitates coordination in action and minimises the errors. This chapter also talks about the limitations of controlling such as controlling poses difficulty in setting quantitative standards, even with controlling there can be no control on external factors, controlling can face resistance from employees and controlling can be a costly affair.
The chapter teaches you the relationship between planning and controlling and the controlling process. The controlling process involves setting up of standards, measuring performance, comparing performance against a standard, analysing deviation, critical point control, management by exception and taking the corrective measure. It also teaches you about deviation, techniques of managerial control, traditional techniques and modern techniques.
CBSE Class 12 Business Studies Part B (Business Finance and Marketing) Syllabus
Chapter 9: Financial Management
Financial Management of Class 12 Business Studies introduces you to financial management, the role of financial management, objectives of financial management, financial decisions, investment decision, financing decision, dividend decision, financial planning, objectives of financial planning, the importance of financial planning, capital structure, fixed capital, importance or scope of capital budgeting decision and factors affecting requirement of fixed capital.
The chapter also throws light on working capital, operating cycle, factors affecting the working capital. Some such factors include the length of the operating cycle, nature of the business, the scale of operation, business cycle fluctuation, seasonal factors, technology and production cycle, the credit allowed, credit avail, operating efficiency, availability of raw materials, level of competition, inflation and growth prospects.
Chapter 10: Financial Markets
Financial Markets of Class 12 Business Studies Syllabus, explains to you of the financial market, and functions of financial markets. It also teaches you about the classification of the financial market into money market and capital market, primary market and secondary market. It further teaches you the meaning and significance of each financial market. Here you will learn methods of floatation, stock market, brokers, jobbers, bulls, bears and stag, and functions of the stock exchange or secondary market.
Further, you shall also come across economic barometer, pricing of securities, the safety of transactions, The contribution of the financial markets to economic growth, spreading of equity cult, proving scope for speculation, and liquidity. It also throws light on concepts such as trading procedure on a stock exchange, some benefits of online stock exchange, all India level stock exchange, common features of NSEI and OTCEI, Securities Exchange Board of India (SEBI), Objectives of SEBI and functions of SEBI.
Chapter 11: Marketing Management
Marketing Management of Class 12th Business Studies Syllabus, educates you about the meaning of market, customer, marketer or seller, marketing, features of marketing, marketing management, the difference between selling and marketing, marketing management Philosophies, objectives of marketing management, functions of marketing, the role of marketing, marketing mix, elements of the marketing mix, product, classification of product or service, consumer goods, Industrial product and types of products.
Here you will also learn about the product mix, packaging, labelling, price mix, pricing strategies, place or physical distribution, place mix, channels of distribution, functions of distribution channels, types of distribution levels, factors determining the choice of a channel, components of physical distribution, promotion mix, advertising, advantages of advertisement, disadvantages of advertisement, objections to advertising, different media available for advertising, sales promotion, sales promotion techniques for customers, merits of sales promotion, and the demerits of sales promotion and personal selling.
Chapter 12: Consumer Protection
Consumer Protection of Class 12 Business Studies introduces to consumers, who can file a complaint such as a consumer, any registered consumer association, the central government or any state government, one or more consumers, one consumer on behalf of numerous consumers having the interest and a legal heir or representative of a deceased consumer. This chapter also teaches you about three-tier judicial machinery to provide protection to consumers, namely district forum, state commission and national commission.
The chapter also throws light on consumer rights, consumer responsibilities. Some consumer responsibilities include the consumer must exercise his right, the consumer must be conscious, the consumer must only file complaints about the redressal of genuine grievances, the consumer must be quality cautions, the consumer must not be carried away by advertisement and must insist on cash memo. This chapter also talks about ways and means of consumer protection, relief available, rule of consumer organisations and rule of the press.