Students can refer to Stakeholders in Commercial Organisations ICSE Class 10 notes and exam questions provided for ICSE students. This is an important chapter in ICSE commercial studies class 9. We have provided here questions and answers which are expected to come in the upcoming ICSE exams for class 10th. Prepared based on the latest examination pattern and guidelines issued by ICSE. You can also refer to ICSE Books in pdf available for the latest academic session.
ICSE Class 10 Commercial Studies Stakeholders in Commercial Organisations Important Questions
Students should learn the important questions and answers given below for Chapter Definitions From Topo Maps in Commercial Studies for ICSE Class 10. These board questions are expected to come in the upcoming exams. Students of ICSE Class 10th should go through the Important questions and answers ICSE Class 10 Commercial Studies which will help them to get more marks in exams.
Board Exam Questions Stakeholders in Commercial Organisations ICSE Class 10 Commercial Studies
Question: What do you understand by internal stakeholders?
Ans. Stakeholders who are involved in the business firms from within the organisation are known as internal stakeholders. They consist of owners/ shareholders, and employees of the organisation.
Question: Describe the expectations of Government.
Ans. Expectations of Government
An ideal Government should expect :
(i) To follow the laws and regulations of the country
(ii) To pay all taxes honestly, regularly and in time
(iii) To avoid corrupting public servants
(iv) To make proper use of scarce resources of the nation
(v) To assist in solving national problems like poverty, unemployment, unbalanced regional growth, etc.
(vi) To avoid monopoly and concentration of economic power.
Question: Mention any four expectations of employees from a commercial organisation.
Ans. Ideal employees expect :
(i) Security of job and continuity of service under congenial conditions.
(ii) A fair remuneration in the form of wages and salaries
(iii) Safe and comfortable working environment
(iv) Various welfare facilities such as housing, medical care, social security
(in the form of pension, gratuity, provident fund, etc.), health, recreation, etc.
Question: Discuss the expectations of customers and business associates.
Ans. Expectations of customers
(i) They should be provided with good quality goods.
(ii) They should be given value for money.
(iii) The price of the goods should be reasonable.
(iv) The customers should be provided with after sales service.
Expectations of Associates or Competitors
(i) Fair trade practices regarding price, quality and service
(ii) An atmosphere of healthy competition and ethical behaviour
(iii) Co-operation among competitors to ensure the growth of the entire industry
(iv) Respect for intellectual property rights.
Question: Distinguish between shareholders and creditors as stakeholders of a commercial organisation.
Ans.
Question: State any two expectations of employees from a business concern?
Ans. Ideal employees expect :
(i) Security of job and continuity of service under congenial conditions.
(ii) A fair remuneration in the form of wages and salaries
Question: What do you mean by external stakeholders?
Ans. Stakeholders who are contributing to the business enterprise from outside the organisation are known as external stakeholders. They consist of creditors, suppliers, dealers, competitors, Government, local community, and the society.
Question: Write any five expectations of the General Public or Society from a Business Enterprise.
Ans. Society or community expects :
(i) To protect the environment from all types of pollution
(ii) To produce socially desirable products in accordance with national interest and priorities
(iii) To help weaker sections of society by giving them preference in employment and other fields
(iv) To improve standard of living of people by promoting educational, medical and cultural institutions
(v) To donate funds for charitable and public welfare activities
Question: Distinguish between stakeholders and customers
Ans.
Question: State any two expectations of shareholders from a business concern.
Ans. Expectations of Shareholders.
(i) Safety of capital contributed by them
(ii) A fair and regular return (in the form of dividend or interest) on their capital
Question: State any two expectations of the Government from a business concern.
Ans. An ideal Government should expect :
(i) To follow the laws and regulations of the country
(ii) To pay all taxes honestly, regularly and in time
Question: State any two expectations of the general public from a business organisation.
Ans. Society or community expects :
(i) To protect the environment from all types of pollution
(ii) To produce socially desirable products in accordance with national interest and priorities.
Question: Distinguish between a shareholder and a creditor.
Ans.
Question: Explain the expectations of internal stakeholders in a commercial organisation.
OR
Explain the expectations of employers and employees as stakeholders in a commercial organisation.
Ans. Expectations of Employers (Owners, Shareholders and Manager.)
(i) Safety of capital contributed by them
(ii) A fair and regular return (in the form of dividend or interest) on their capital
(iii) Capital appreciation in the value of their investment
(iv) Accurate, up-to-date and regular information about the working and financial health of the company
Expectations of Employees
(i) Security of job and continuity of service under congenial conditions.
(ii) A fair remuneration in the form of wages and salaries
(iii) Safe and comfortable working environment
(iv) Various welfare facilities such as housing, medical care, social security (in the form of pension, gratuity, provident fund, etc.), health, recreation, etc.
(v) Opportunities for education, self-development, promotion and career growth
(vi) Opportunity to participate in the profits and management of the organisation
Question: Distinguish between ‘stakeholders’ and ‘shareholders’.
Ans.
Question: Define the term of ‘stakeholders’.
Ans. The term ‘stakeholders’ has developed from the word ‘stake’ which means an interest or expected benefit. Stakeholders, therefore, mean all those individuals, groups and institutions which have a stake in the functioning. and performance of a commercial organisation or a business enterprise.
Question: Distinguish between internal and external stakeholders.
Ans.
Question: Mention any two expectations of suppliers from a business organisation.
Ans. Ideal suppliers (those who provide raw materials) expect :
(i) Fair prices for the supplies
(ii) Regular and timely payment according to credit terms
Question: Give any five expectations of employees from a business enterprise.
Ans. Expectations of Employees
(i) Security of job and continuity of service under congenial conditions.
(ii) A fair remuneration in the form of wages and salaries
(iii) Safe and comfortable working environment
(iv) Various welfare facilities such as housing, medical care, social security
(in the form of pension, gratuity, provident fund, etc.), health, Recreation, etc.
(v) Opportunities for education, self-development, promotion and career growth.
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