Fundamentals of business activities - class-IX

Tertiary industries: These industries provides support to primary and secondary industries . Tertiary industry consits of : banking, transportation warehousing etc services.

Business risks is the possibility that a company will have lower than anticipated profits in future or even experience a loss . If there is a good management in business there will be no chances of business risks.

The business activity are of two types :

Enumerators are those persons who gather information by conducting a survey and they report to their higher authorities, who are known as Supervisors.

Profession is a type of paid occupation which involves training, utilization of skills for a prolonged period. Business, profession and employment all are considered economic activities because they consist of exchange of goods and/or services for money.

Howard-Sheth theory explains how consumers behave while buying a product or rendering a service in the market. It assumes that consumer is rational while buying the product and how the consumer is getting affected through physical, symbolic and social characteristics of the product, through marketing and their need for the product or service. 

Non-economic activities are those activities which do not generate any income or money while they are carried out. Patriotism, sentiment, sympathy are all emotions, feelings of an individual whereas teaching is an activity which involves money transfer after it is carried out (unless it is intentionally carried out without any pay). Because a teacher gets salary for teaching, it is not an example of non-economic activity.

In day to day business activities, the term 'relevant' indicates at the applicability of a certain decision that are taken in an organisation. 

The duties of a secretary include keeping the secret information to itself. Hence a personal secretary is a custodian of secret information.

Secretary means an officer who is generally entrusted with the responsibilities of writing and exchanging letters, maintain documents and performing confidential activities on behalf of someone or any organization.

In ancient Indian literature and historical documents the word 'Sachiva' was used for a secretary. Originally, the term 'secretary' was mainly related with the person who does writing work for his master.

The term secretary originates from the Latin word secretarius, which refers to a person entrusted with secret or confidential matters.

Sachivalaya is responsible for the administration of the government of India. It facilitates smooth transaction of business of ministries of government by ensuring adherence of the rules . It assists in decision making in the government by ensuring inter-ministerial coordination. The state and central government also have secretary for all the departments functioning under the control of ministers in sachivalaya. 

A secretary should  the knowledge of accountancy so as to make sure the correct maintenance of accounts and it also helps in the administration of the organisation. 

The term secretary is derived from the Latin term 'Secretarius', which means a confidential officer (Writer).
In the old Roman Empire a secretary was called 'Scriba', which means professional letter writer.

The duties required to be performed under various laws are called the statutory duties. Statutory duties are those duties which are mentioned in law or statue, the breach of any statutory duty is liable to any criminal penalty imposed by the statue.

Secretary means an officer who is generally entrusted with the responsibilities of writing and exchanging letters, maintain documents and performing confidential activities on behalf of someone or any organization.

Every business organisation needs a secretary having a knowledge of recording financial transaction as financial transaction are the main part of any organisation.

In ancient Indian literature and historical documents the words like 'Amatya', 'Sachiva', and 'Chitnis' were used for a secretary. Originally, the term 'secretary' was mainly related with the person who does writing work for his master.

True, institutional secretary is a type of secretary which takes charges of the administration of the whole institution and helps the management in regard to the decision making for the institution.

True , a secretary is an indispensable person in the office as he plays an essential part in the business administration and helps the management.

A personal secretary is also known as personal assistant and their main duty is to follow the orders of their ultimate superior and perform according to the standards set by their superiors. 

A secretary is a custodian of secret, confidential and important information of his organization. Since he is closely connected with a top management, he participates in the decision making, policy framing, planning etc. All such
important decisions regarding business activities are required to be maintained at top confidential. A secretary keeps all such confidential decisions and executes them at a right time

The primary qualification required for a secretary of a government department is I.A.S. ( Indian Administrative Service).

The function of secretary depend on the nature of the organisation, different organisations have different works and requirements which changes the functions of a secretary.

A company secretary is a representative of the company to the outside world. The main qualities of a secretary that helps them to adjust and adapt to the varying situation of the business environment is the quality to learn from continuous efforts which are also known as qualities of head. 

True , a personal secretary is appointed by the busy person as he needs personal assistance in his daily work .

True , a personal secretary is an administrative assistance who is hired to reduce the burden of the employer . The job of the secretary is to do clerical , administrative and management work for the employer . The functions of a personal secretary clearly depends upon the type of work and the functioning of the employer as personal secretary is suppose to do the daily functions on the behalf of the employer . A personal secretary is supposed to do the management of the schedules of the employer arrangement of the meetings , client coordination etc .

False , A company's Article of Association may provide that one-third of the directors must retire by rotation at each annual general meeting. If two or more persons were originally appointed on the same day , those to retire should be between them or determined by lot.

According to the Company Act , 2013 , the first auditor is appointed by the shareholders of the company at the time of commencement . 

This statement is False because of the following reasons : 

This statement is True because of the following reasons : 

The Extraordinary General Meeting is held every year. It is meeting which other than company's annual meeting that regularly occurs among a company's shareholders , executives and any other members.

This statements is True because of the following reason:

False , Annual General Meeting is a mandatory yearly gathering of company's interested shareholders . At the meeting the directors of the company present an annual report containing information for the shareholders about the company's performance and strategy. Shareholders with voting rights vote on current issues such as appointment of board of directors , executive compensation, divident payment and selection of auditors.

This statement is False because of the following reasons:

True, the meeting which is held between two consecutive Annual General Meetings is called Extraordinary General Meeting . It is a sort notice meeting o members and the shareholders especially to consider a particular matter. 

True , the general meeting held after the completion of the financial year is the Annual General Meeting . Annual General Meeting is a meeting conducted annually f or the members or shareholders for holding elections or reporting on theyear's events.

true, statutory meeting is the first meeting of the shareholders of a company. It must be held within a period of less than one month not more than six months from the date at which the company is entitled to the commencement of business . it is only held once in a lifetime of a company.

True , the appointment of the auditor is made at Annual General Meeting . Every company shall appoint an auditor at it's first annual general meeting who shall hold its first office from conclusion of that meeting to its sixth annual general meeting

Minutes also known as minutes of meeting are instant records. They typically describe the events of the meeting and may include a list of attendees, a statement of the issues considered by the participants and related responses or the decision of the issue.

True

According to the Companies Act, the maximum interval allowed between two consecutive Annual General Meetings (AGM) is 15 months.

Statutory meeting is the first meeting of the shareholders of the company. it must not be held only once in a lifetime of a company . Hence the first general meeting of the company is the statutory meeting. 

A motion is a topic or subject proposed as a basis of dis­cussion. Since a member at a meeting formally introduces or moves a subject for discussion it is called a motion. With the permission of the chairman a motion is moved by an individual. He ‘secures the floor’, addresses the chairman and makes a short speech in support of the motion.

Immediately after that another member stands up and ‘seconds’ it. A motion when seconded is called a proposal and it is before the meeting. If no one seconds a motion, it ‘falls to the ground’ and no discussion takes place on it. A formal motion like ‘point of order’ or a motion by the chairman does not require seconding.

True, the minimum number of members to remain present for a valid meeting is the quorum. It is the minimum acceptable level of individuals with a vested interest in a company needed to make the proceedings of the meeting valid.

True, the general meeting is under the control of the chairman , who must concentrate on the punctilious conduct of the meeting. 

This statement is a True due to the following reasons : 

True, an agenda is the list of meeting activities in the order in which they are to be taken up , beginning with the call to order and ending with adjournment. It usually includes one or more specific items of business to be acted upon.

True, Directors are appointed or elected member who has the responsibility for determining and implementing the company's policies . They are agents, trustees and managing partners of a company. 

This statements is False because of the following reasons:

This statement is False, due to the following reasons:

The socialization process in organizations typically follows three stages: pre-arrival, encounter, and metamorphosis. The encounter stage is the second stage where the employee confronts the reality of the job.

A business is an activity of making money by producing and buying and selling products. It is an entity which is established for earning profit which is the basic motive. Thus the income of the businessman is called profit.

The Sector Skill Councils (SSC) framework in India has been established to cover various sectors, with 38 councils approved and 25 of those falling under the Make in India initiative.

Business involves maximum risk as it has some external and internal environment factors which are not in the control of business and creates various types of business risks. Employment, profession and teaching does not not involves as they get fixed remuneration.

A business activity involves regular economic production or exchange of goods and services for profit. Teaching one's own daughter at home is a non-business personal service and lacks commercial intent.

White collar refers to employees whose job entails largely on clerical work such as in a office. It refers to the job of officials who performs managerial or professional work for the organisation and get a fixed salary as remuneration at the end of each month.

The Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the American based CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals.

The blue collar refers to a type of employment. Blue collar jobs are typically classified as involving manual labour and compensation by an hourly wage. Some fields that fall into this category include construction, manufacturing, maintenance and mining.

Internal forces for organizational change originate from within the organization, such as changes in employee attitudes, management strategies, or internal processes. Economic and political forces are external.