Business Studies Class- XI

Modern business operates within the framework of social, economic, political, legal, technological and global environment. Recently, two major economic changes have been carried out by the Central Government which have disrupted the way the business firms were being run. The first change is demonetization of Nov.8, 2016 leading to banning of old currency notes of Rs.1000 and Rs.500 and creating the shortage of cash immediately thereafter. This posed a great threat for the business firms, but also provided them an opportunity to shift to the digital modes of settlement of business transactions. This led to saving of efforts and time and also increasing their efficiency.

The second change initiated by the Government was the launch of Goods and Services Tax (GST) with effect from July 1, 2017. This change also caused disruption of business in the short-run, but increased the ‘ease of doing business’ and paved the way for one nation, one tax to check tax avoidance and to protect the interests of consumers.

It is really heartening to note that CBSE has revised the course contents of BUSINESS STUDIES for class XI of Commerce Stream in view of the above changes. It has incorporated ‘Types of Digital Payments’ and Goods and Service Tax (GST) in the revised curriculum to create awareness among the students who are the business leaders of tomorrow. Besides, the CBSE has also included other important topics like History of Commerce in India, One Person company and Entrepreneurship Development. We have accepted the above challenge and incorporated the above topics in the present REVISED EDITION of BUSINESS STUDIES.

The salient features of the present edition are:

• New topics including History of Commerce in India, One person Company, Types of Digital Payments, GST and Entrepreneurship Development have been incorporated in the text.
• Obsolete material has been deleted. Latest definitions of micro, small and medium enterprises have been incorporated in Ch 8.
• The subject-matter has been presented in a simple language to make it student-friendly.
• Diagrams, Tables and Boxes have been at appropriate places for the convenience of the students.
• Summary has been given at the end of each chapter for the easy recapitulation of the topics covered.
• Guidelines to NCERT Textbook questions have been given at the end of each chapter.
• Adequate questions to test the knowledge, application, analysis and evaluating skills of the students have been given at the end of each chapter.
• Sample project reports have been given in the appendix to enable the students to prepare any project report of their own.