ISC Commerce
ISC Commerce
ISC Commerce
Aims:
1. To develop an interest in the theory and 3. To provide a study of the more important
practice of business, trade and industry. aspects of the commercial world.
2. To familiarise candidates with theoretical 4. To provide knowledge of the activities of
foundations, organising, managing and commerce in the marketing of goods and
handling operations of a business firm. services.
CLASS XI
There will be two papers in the subject: (iii) Business objectives.
Paper I - Theory: 3 hours ……80 marks Business objectives: economic; social;
Paper II- Project Work ……20 marks human and national. Role of Profit in
business.
PAPER - I (THEORY) – 80 Marks
Part I (20 marks) will consist of compulsory short 2. Forms of Business Organisations
answer questions testing knowledge, application (i) Introduction to business organizations.
and skills relating to elementary/ fundamental Meaning, characteristics, types (private
aspects of the entire syllabus. sector, public sector, Public Private
Part II (60 marks) will consist of eight questions Partnership (PPPs) /Joint Sector).
out of which candidates will be required to answer Comparison between different types of
five questions, each carrying 12 marks. organizations.
(ii) Sole trader - objectives; formation; merits
1. Nature and Purpose of Business and demerits.
(i) Classification of human activities - Meaning and definition of sole trader;
economic and non-economic. characteristics and objectives of sole
Classification of human activities - trader; merits and demerits.
economic and non-economic. Types of (iii) Partnership
economic activities.
(a) Meaning, features; types of partners
Distinction between business, profession and partnership firms.
and employment. Meaning and definition of partnership;
(ii) Definition and concept of business; features of partnership firms; types of
classification of business activities. partners and partnerships.
Definition of business. Characteristics of (b) Registration of Partnership firms.
business. Classification of business Formation, meaning and contents of
activities: partnership deed; registration and
(a) Industry: types of industries on the consequences of non-registration.
basis of activity (primary and (c) Evaluation of partnership; merits and
secondary) and on the basis of size demerits.
(micro, small, medium and large). Self-explanatory.
Role of small businesses in India. (d) Comparison of sole proprietorship and
(b) Commerce: branches of Commerce. partnership.
Commerce - its nature and functions; Self-explanatory.
importance of Commerce. Branches of (iv) Corporate Organisations.
Commerce - trade and aids to trade. (a) Joint Stock Company: meaning,
Relationship between commerce, trade features, merits, demerits and
and industry. objectives.
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(b) Stages of Formation of a Company. Co-operative organizations - meaning;
(c) Promotion, meaning, role and types of characteristics, advantages and disadvantages;
promoters. Types of cooperative organizations, distinction
between joint stock companies and cooperative
(d) Incorporation of a company -Meaning organizations.
and steps of incorporation (including
filing of documents), certificate of 3. Social Responsibility of Business and Business
incorporation. Ethics
(e) Memorandum of Association and
Concept and need for social responsibility.
Articles of Association (excluding
alterations) and distinction between the Responsibility towards owners, investors,
two documents. consumers, employees, government and
Meaning and contents of MOA and community; Responsibility of business towards
AOA. Distinction between the MOA protection of environment; Meaning and
and AOA. importance of Business ethics.
(f) Commencement of business. 4. Emerging Modes of Business
Steps, Certificate of Commencement. (i) E-business.
(g) Prospectus and statement in lieu of Scope and benefits, Resources required for
prospectus – meaning and contents successful e-business implementation,
only. online transactions, payment mechanisms,
(h) Types of companies- Classification of security and safety of business transactions.
companies on the basis of mode of (ii) Outsourcing.
incorporation, liability of members, Concept, need and scope of BPO and KPO.
public interest, ownership, control and
nationality. (iii) Smart Cards.
Public and private companies and their Meaning and utility.
comparative studies, privileges of 5. Stock Exchange
private companies.
(i) Meaning and importance.
(i) Global enterprises – Meaning,
characteristics, merits and demerits of (ii) Functions and services.
Global Enterprises. (iii) Major Stock Exchanges in India (BSE,
NSE, DSE, ASE) – types and locations.
(v) Public Sector Undertakings.
(iv) Types of operators – Brokers, Jobbers,
(a) Meaning; characteristics, objectives, Bulls and Bears.
role and forms of Public Sector
Undertakings (Departmental (v) Terms used in Stock Exchange - ex-
Undertakings, Public Corporations and dividend, cum dividend, spot delivery,
Government Companies). forward delivery.
Public Sector Undertakings – meaning; (vi) SEBI – functions and objectives.
characteristics, objectives, role Self-explanatory
and criticisms. Forms of Public
Sector Undertakings (Departmental 6. Trade
undertakings; Public Corporations and (i) Wholesalers.
Government companies – definitions, Meaning and services of wholesaler to
features, merits and demerits). retailer, customer and producer.
(b) Public Private Partnerships. (ii) (a) Retail trade – Meaning and
Meaning and features of PPPs. characteristics.
(vi) Co-operative organisations - meaning; Retail trade - meaning, characteristics
characteristics and types. of retail trade. Distinction between
wholesale and retail trade.
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(b) Types of retail trade - Itinerant and 8. Insurance
small scale fixed shops: departmental (i) Insurance – Meaning, objectives and
store, chain store, mail order houses, purpose.
tele shopping, franchise, consumer
cooperative stores, hypermarkets and Meaning, objectives and purpose of
automatic vending machines. insurance; Concept of re-insurance and
double insurance.
Meaning, features, merits and demerits
to be covered. (ii) Risks in business - insurable and non-
insurable.
(c) Documents used in home trade.
Risks in business - insurable and non-
Documents and procedure used in insurable - meaning and examples of both.
home trade – inquiry; quotation; Characteristics of insurable risks.
catalogues; order; invoice; debit note;
credit note. (iii) Principles of insurance.
Price quotations - cash discount and Fundamental principles to be explained:
trade discount. utmost good faith; insurable interest;
indemnity; contribution; doctrine of
(iii) Role of Chambers of Commerce and subrogation; causa proxima. mitigation of
Industry and Trade Associations. loss.
Meaning and functions of Chambers of (iv) Types of insurance: life and non-life.
Commerce and trade associations.
Types of insurance – life, health, fire,
7. Foreign Trade marine, motor, social and fidelity insurance
(i) Meaning, difference between internal trade (Meaning and importance only).
and external trade.
Meaning and characteristics of PAPER II – PROJECT WORK – 20 Marks
international trade; problems of
international trade; advantages and Candidates will be expected to have completed two
disadvantages of international trade. projects from any topic covered in Theory.
(ii) Export trade – Meaning, objectives and Mark allocation for each Project [10 marks]:
procedure of export trade.
Overall format 1 mark
Self-explanatory. Content 4 marks
(iii) Import trade – Meaning objectives purpose Findings 2 marks
and procedure.
Viva-voce based on the Project 3 marks
Meaning and functions of import trade;
objectives, purpose and procedure.
A list of suggested Projects is given below:
(iv) Documents involved in international trade.
1. Select a daily use consumer product. Trace its
Documents involved in export trade, such origin right from the primary industry through
as: indent, letter of credit, shipping order,
the secondary and tertiary industries. Draw a
shipping bill, mate’s receipt, bill of lading,
certificate of origin, consular invoice, flow chart to include all the business activities
documentary bill of exchange (DA/DP), all in its path from the producer to the consumer.
need to be explained. 2. Assume you are starting a partnership firm with
Documents involved in import trade, such your friend/friends. Develop a business plan
as: import license, indent, letter of credit, covering the following aspects:
documentary bill of exchange, bill of entry,
bill of sight, port trust dues receipt, − Formation of this partnership firm – rules
application to import, advice note, bill of and steps that would be followed including
lading, all need to be explained. the partnership deed
(v) World Trade Organisation. − Choice of types of partners involved and
WTO-meaning and objectives. your justification for the same.
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3. Select two infrastructure projects of public Comment on the changing role assumed by
sector undertakings that have been recently Corporates towards business ethics and social
commissioned. responsibility in the last two decades.
Analyze each project in terms of: 8. Identify any trade association and chamber of
commerce headquartered in your town/city.
− Objectives
Study each in terms of:
− Profitability
− Its objectives.
− Adherence to the time schedule for project
completion.
− Services provided to members.
(ii) Sources of finance for a Joint Stock Online services- transfer of funds through
Real Time Gross Settlement (RTGS),
Company.
National Electronic Funds Transfer
(a) Different types of shares: equity, (NEFT), Immediate Payment Service
preference. (IMPS), issue of demand drafts online
meaning and features.
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Online payments, e-Banking – meaning and features, merits, demerits and
features, advantages and disadvantages. differences between line and line &
staff, functional and divisional, formal
Mobile Banking - SMS alerts, transfer of
and informal; Meaning and importance
funds, making payments - advantages and
of delegation of authority;
disadvantages.
Decentralization v/s Centralization,
Debit Cards vs Credit Cards, ATM comparison between delegation and
(Automated Teller Machine) – Meaning; decentralization, merits and demerits.
Debit card and credit card: features and (c) Staffing:
differences.
Meaning, steps and importance;
3. Management Recruitment – Meaning and sources;
(i) Management: Meaning, objectives and Selection –Meaning and procedure;
characteristics of management. Training and development – Meaning,
types of training, difference between
Meaning of Management: as an activity; as selection and recruitment, Training and
a group; as a discipline; as a process. Development.
Objectives and characteristics of
management. (d) Directing:
Meaning and importance; Supervision-
(ii) Nature of Management – Science, Art and Meaning, functions and span of
Profession. control;
Self explanatory. Motivation - Meaning and Maslow’s
(iii) Importance of Management. theory; Leadership- Meaning and
qualities of a good leader;
Self explanatory.
Communication - Meaning, objectives
(iv) Principles of Management: nature of and process. Barriers to
principles; need for principles. communication and overcoming
Nature of principles of Management; need barriers to communication.
for principles of management; Taylor’s 5 (e) Controlling:
scientific principles of Management; Meaning, steps and importance;
Fayol’s 14 principles of Management; Relationship between Planning and
Relevance of the principles of Management Controlling; Management by
in today’s business scenario. Comparison Exception.
of Taylor's and Fayol’s principles.
(f) Coordination:
(v) Functions of Management: Planning;
Meaning of Coordination;
Organising; Staffing; Directing; Controlling
Coordination as an essence of
and Coordinating.
Management.
(a) Planning:
4. Marketing
Meaning, steps, importance &
(i) Marketing: concept and functions.
limitation; Types of plans; Objectives,
policy, procedures, method, role, Meaning and types of markets; meaning
budget, program – meaning, features and features of marketing. Marketing
and differences. concepts: traditional v/s modern - meaning
and features of traditional and modern
(b) Organising:
concepts of marketing. Comparison
Meaning, importance, steps; Structure between marketing and selling. Objectives
of organization (line, line and staff, and importance of marketing; functions of
functional and divisional; Formal and marketing – meaning, features of each
informal organization) – Meaning, function of marketing.
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(ii) Marketing Mix - Meaning and Elements. A list of suggested Projects is given below:
Product Mix - goods and services - 1. Compare marketing strategies adopted by two
meaning, features and types of goods; different companies of the same industry
meaning, features of services; difference (FMCG / Telecommunication / media /
between product and services. Branding: education industry etc.) keeping in mind
meaning and merits. Labeling: meaning the following:
and merits. Packaging: meaning and
− Product mix
features of good packaging.
− Price Mix
Price Mix – meaning, factors determining
price. − Place Mix
Place Mix – meaning, channel of − Promotion Mix
distribution choice of channels of 2. Collect newspaper/magazine clippings of five
distribution and physical distribution. cases filed by consumers in the Consumer
Promotion Mix – Meaning and elements. Court.
Elements – Advertising, sales promotion, Find out the rights violated, and the redressal
personal selling and publicity – meaning, mechanism used.
features, objectives and differences. What was the outcome of each case?
(iii) Consumer protection: rights of consumers, 3. Visit a commercial Bank. Find out the
methods of consumer protection. procedure to open a savings account.
Need for consumer protection; methods of Find out the details of various Agency &
consumer protection - self-help, legislative General utility services provided by the bank.
measures and consumer
associations/NGOs, Consumer Protection 4. Compare the interest rates offered by five
Act, 2019 - Rights of consumers. different commercial banks on fixed deposits
under various categories (general and senior
The Consumer Disputes Redressal citizens) and various time durations.
Commissions (National, State and District).
Find out the procedure and formalities for
Difference between Consumer Protection opening a fixed deposit account.
Act, 1986 and Consumer Protection Act,
2019. What is the procedure for closing the account
on maturity and before maturity period?
PAPER II – PROJECT WORK – 20 Marks 5. Select five different companies across varying
Candidates will be expected to have completed two industries such as I.T., textiles, FMCG, Health
projects from any topic covered in Theory. Care, etc., included in the SENSEX. Keeping a
hypothetical base money of Rupees One Lakh,
The project work will be assessed by the teacher invest in the shares of the selected companies.
and a Visiting Examiner appointed locally and The movement of share prices selected by you
approved by the Council. should be monitored over a period of one
Mark allocation for each Project [10 marks]: month on a daily basis. A uniform / standard
practice of either using the opening price or the
Overall format 1 mark closing price on a particular day of the week
Content 4 marks should be used by all students in the class.
Findings 2 marks At the end of the month, analyse your
investment in a spread sheet and give reasons
Viva-voce based on the Project 3 marks for your choice of scripts.
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6. Find out the names of companies under various 9. Choose two companies of the same industry.
sectors (FMCG, Pharma, automobile, etc) Study their organizational structure. Also give
included in the NIFTY and the SENSEX. information with regard to:
Make a chart of the same and track its (i) Hierarchy
movements over a period of one week.
(ii) Centralization and delegation of authority
7. (a) Study the sources of recruitment and steps
(iii) Flow of information (scalar chain)
involved in the selection procedure adopted
by two companies of the same industry. (iv) Span of control
(b) Compare and evaluate the sources of (v) Channel of communication.
recruitment and the selection process 10. Select any business undertaking. Study the
adopted by the selected companies. selected business in terms of ownership, capital
8. Formulate a capital plan for a hypothetical and profitability.
business organization. Make a S.W.O.T. analysis and present it in a
Justify your formulated plan. tabular form.
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SAMPLE TABLE FOR PROJECT WORK
S. Unique PROJECT 1 PROJECT 2 TOTAL
No. Identification MARKS
Number A B C D E F G H I J
(Unique ID) Teacher Visiting Average Viva-Voce Total Teacher Visiting Average Viva- Total (E + J)
of the Examiner Marks by Visiting Marks Examiner Marks Voce by Marks
candidate (A + B ÷ 2) Examiner (C + D) (F + G ÷ Visiting (H + I)
2) Examiner
7 Marks* 7 Marks* 7 Marks 3 Marks 10 Marks 7 Marks* 7 Marks* 7 Marks 3 Marks 10 Marks 20 Marks
10
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