ISC Business Studies Class 11 Syllabus
There are two papers in the subject: Paper I is Theory of 3 hours and 80 marks. Part 1 (20 marks) consists of compulsory short answer questions testing knowledge, application and skills relating to elementary or fundamental aspects of the entire syllabus.
Part II (60 marks) consists of eight questions, out of which you are required to answer any five questions, each carrying 12 marks.
1. Business Environment
(i) Introduction to the concept of business environment.
Meaning and definition of business environment.
(ii) Features and importance of business environment.
Features: dynamic, relative, inter related, complex, uncertain, totality of internal and external forces, general and specific forces, universality, various stakeholders;
Need to understand business environment: first mover advantage, early warning signals, business strategies, competitive advantage, customer confidence and public image, coping with change, customer needs, keeping pace with consumerism.
(iii) SWOT Analysis
Meaning and importance of SWOT analysis. Components of SWOT.
(i) Introduction to Entrepreneur.
Meaning and definition of entrepreneur; Classification of entrepreneurs: independent and spin-off; types of entrepreneurs as given by Clarence Danhof: Innovative, Imitating, Fabian and Drone.
(ii) Introduction to Entrepreneurship.
Meaning, definition and characteristics of entrepreneurship. Characteristics of successful entrepreneur: forward looking, hardworking, passionate, opinionated, confident, resourceful, positive; Factors affecting entrepreneurship: political, statutory (legal and taxation), capital availability, availability of required labour, availability of required raw material; Types of entrepreneurship: small business, scalable startup, large company, social.
Meaning, definition and characteristics of intrapreneurship; Differences between entrepreneurship and intrapreneurship; Classification of intrapreneurs: venture and project; factors affecting entrepreneurship; management support, resource availability, organization structure, risk taking capacity, reward.
Meaning and definition; steps in setting up an enterprise: selecting the line of business, choosing the form of ownership, locating the appropriate site to set up the business, financing the proposition (identifying capital requirements and its sources), setting up the physical layout and the facilities, acquiring required human resource. Compliance with statutory requirements, launching the business). Five phases of a business: expansion, peak, recession, trough, recovery.
Startup business - meaning only.
(v) Business risks and causes of failure.
Meaning of business risks. Types of business risks: strategic risks, financial risks, operational risks, compliance risks, competition and market risks, environmental risks, reputational risks, credit risks, innovation risks: a brief explanation of each.
Causes of business failure: internal causes (poor management, premature scaling, funding shortfall, inadequate profits, labour problems, small customer base) and external forces (economy fluctuations, market fluctuations, non-availability of credit, change in technology, change in government policies and laws, natural disasters, lack of availability of raw material).
Methods of managing business risk: accept and absorb, avoid, transfer, mitigate, exploit (clear understanding of the methods).
3. Managers and Managerial Roles
Meaning and definition of a Manager.
(ii) Managerial roles
Managerial roles as given by Mintzberg: informational (monitor, disseminator, spokesperson), interpersonal (figurehead, leader, and liaison), and decisional (entrepreneur, disturbance handler, resource allocator, negotiator): brief explanation of these roles.
(iii) Authority, responsibility, and accountability.
Meaning and definition of authority, responsibility, and accountability; their interrelationship; sources of authority: formal, acceptance, competence; delegation of authority; principles of delegation of authority; centralization and decentralization of authority; distinction between delegation and decentralization of authority.
(iv) Change management.
Meaning and definition of change management; Types of change: developmental, transitional, transformational.
Need for change: Internal forces (need for improving productivity, need to reduce costs, need for improving quality of work life, Domino effect, deficiency in the existing system, to enhance innovation); External forces (change in market situations - national and international, changes in technology, changes in population dynamics, changes in the political scenario, changes in the legal system).
Resistance to change: reasons for resistance to change - Individual reasons (habits and conventions, fear of unknown, zero tolerance to change (status quo), fear of economic loss, redundancy of skills, egoistic attitude, peer pressure, emotional resistance to change in social groups); Organizational reasons (fear of the unknown, costs involved, management’s lack of faith in change, constraints of organizational structure).
Overcoming resistance to change: Brief explanation of Kurt Lewin’s model of change and ADKAR model of change.
4. Automation at Workplaces
Meaning and definition of mechanization and automation; distinction between the two; evolution from mechanization to automation; merits and demerits of mechanization; merits and demerits of automation.
(ii) Productivity enhancement tools and facilities at different workplaces.
- Banks: ATM, passbook printing kiosk, cheque/ cash depositing machine, SMS alerts
- Retail Industry: barcode scanner and POS machine (Point of Sale), card swipe machine
- Corporate Office: Biometric system, photocopy machine, LED Projector, scanners, laptops, smartphones. Video conferencing, intercom, internet and wi-fi, VoIP (voice-over internet protocol).
- Airports: self check-in kiosk, CUTE workstations, automated backdrop, AODB solutions, Airport hub wireless, Advanced ATS.