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GNDU Most Repeated (Important) Quesons
B.B.A 1st Semester
BUSINESS ORGANIZATION AND SYSTEMS
(Based on 4-Year GNDU Queson Paper Trend Analysis: 2021–2024)
Must-Prepare Quesons (80–100% Probability)
SECTION–A (Nature, Scope & Evoluon of Business)
1. Meaning / Denion / Essenals / Objecves / Scope of Business
Appeared in: 2021 (Q1), 2022 (Q1), 2023 (Q1), 2024 (Q1)
2. Industrial Revoluon / Evoluon of Industry / Evoluon of Commerce
Appeared in: 2021 (Q2), 2022 (Q2), 2023 (Q2), 2024 (Q2)
2025 Smart Predicon Table
(Based on GNDU 2021–2024 Trend)
Queson Topic
Years
Appeared
Probability for 2025
1
Meaning / Denion / Objecves / Scope of
Business
2021–24
(100%)
2
Evoluon of Industry / Industrial Revoluon /
Evoluon of Commerce
2021–24
(100%)
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2025 GUARANTEED QUESTIONS (100% Appearance Trend)
Top 7 Must-Prepare Topics (Appeared All 4 Years)
1. Dene Business and explain its Objecves / Essenals / Scope.
2. Explain the Evoluon of Industry or Industrial Revoluon and its impact on
business.
BONUS HIGH-PRIORITY (80–90%) Quesons
8. What are the dierent forms of Business Organisaon? Explain characteriscs
of a Joint Stock Company.
GNDU Most Repeated (Important) Answer
B.B.A 1st Semester
BUSINESS ORGANIZATION AND SYSTEMS
(Based on 4-Year GNDU Queson Paper Trend Analysis: 2021–2024)
Must-Prepare Quesons (80–100% Probability)
SECTION–A (Nature, Scope & Evoluon of Business)
1. Meaning / Denion / Essenals / Objecves / Scope of Business
Appeared in: 2021 (Q1), 2022 (Q1), 2023 (Q1), 2024 (Q1)
Ans: A Fresh Beginning: The Story of Human Need and the Birth of Business
Long ago, before there were shops, malls, or online stores, people lived very simple
lives. They grew their own food, made their own clothes, and built their own homes. Life
was peaceful—but also limited.
One day, a man who had plenty of wheat met another who had extra cloth. They
decided to exchange what they had—this was the first trade. Slowly, people began to
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realize that not everyone had to do everything. Some could make tools, some could
grow crops, and some could make clothes. This exchange of goods and services gave
birth to something beautiful and powerful—Business.
From small barter trades in ancient villages to giant corporations today, business has
been at the heart of human progress. It connects people, fulfills needs, and drives
societies forward. Let’s now understand this journey in a structured and simple way.
Meaning of Business
The word business comes from the word “busy”. That means being occupied in some
activity. In a general sense, business means any activity that keeps people busy earning
money by producing or selling goods and services.
So, business is not just about selling things—it’s about creating something useful that
satisfies human wants.
In other words, business refers to all those activities that are connected with the
production, distribution, and sale of goods and services to earn profit.
For example:
• A farmer growing vegetables to sell in the market.
• A teacher giving tuition for a fee.
• A company manufacturing mobiles and selling them.
All are examples of business because they involve goods/services, exchange, and profit.
Definitions of Business
To understand it deeply, let’s look at how some thinkers and experts have defined it.
1. L. H. Haney:
“Business may be defined as human activity directed towards producing or
acquiring wealth through buying and selling goods.”
2. Prof. Lewis:
“Business refers to any activity that is directed towards earning money or
acquiring wealth.”
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3. B.O. Wheeler:
“Business is an institution organized and operated to provide goods and services
to society under the incentive of private gain.”
In Simple Words:
Business is an activity done by people to produce, sell, or exchange goods and services
for profit, to satisfy human needs.
Essentials (or Characteristics) of Business
Now that we know what business means, let’s explore its essential features — the
things that make an activity a business.
Imagine you open a small tea stall. What makes it a business? Let’s see.
1. Economic Activity
Business is always an economic activity. That means it is done with the purpose of
earning money, not just for fun or charity.
If you cook food at home for your family, it’s not business. But if you open a restaurant
and sell food, that’s business.
2. Production or Procurement of Goods and Services
A business involves producing goods (like making furniture) or procuring them (like
buying ready-made items to sell).
Even services like teaching, banking, or transport are part of business.
3. Sale or Exchange
There must be exchange of goods or services for money or value. Simply producing
something is not business unless it is sold or offered for money.
4. Profit Motive
The main goal of every business is to earn profit.
Profit is not only the reward for risk but also necessary for survival and growth. Without
profit, no business can run for long.
5. Regularity in Dealings
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A single sale does not make a business. There should be continuity and regularity in
transactions. For example, selling your old mobile once is not business, but selling
mobiles daily is.
6. Uncertainty of Return
There is always some risk in business. A businessman cannot be sure of earning the
same profit every time. Market conditions, competition, and customer preferences may
change.
7. Involvement of Risk
Business always involves risk. The demand may fall, goods may get spoiled, or prices
may drop. But a good businessman manages and minimizes these risks.
8. Customer Satisfaction
Modern business doesn’t just aim for profit—it also aims to satisfy customers. Without
satisfied customers, no business can survive in the long run.
9. Social Responsibility
A good business does not harm society. It should contribute to social welfare by
providing quality products, fair prices, and honest practices.
Objectives of Business
Every business has certain aims or objectives. The main objective is earning profit, but
that’s not the only one. Let’s understand all of them.
1. Economic Objectives
These are directly related to money and growth.
(a) Profit Earning:
Profit is the lifeblood of business. It is necessary to continue operations, expand, and
survive during difficult times.
(b) Production of Goods and Services:
Every business must produce or provide goods and services that satisfy customer needs.
(c) Market Standing:
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A business should try to build a good reputation and position in the market. It helps in
gaining customer trust.
(d) Innovation:
Modern businesses must introduce new products, new ideas, and new technologies to
stay ahead of competitors.
2. Social Objectives
Business exists within society, so it has duties towards it.
(a) Providing Quality Goods:
Selling genuine, safe, and useful products to consumers.
(b) Fair Prices:
Charging fair and reasonable prices without exploitation.
(c) Employment Opportunities:
Giving jobs to people and helping reduce unemployment.
(d) Welfare of Employees:
Providing fair wages, safety, and growth opportunities to workers.
(e) Community Development:
Helping in social causes like education, health, and environment protection.
3. Human Objectives
Business is run by people and for people.
These objectives focus on improving the well-being of employees, managers, and
owners.
Examples:
• Creating a healthy and safe workplace.
• Encouraging skill development and motivation.
• Maintaining good relations between management and workers.
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4. National Objectives
Businesses also contribute to the nation’s growth.
• Earning foreign exchange by exporting goods.
• Paying taxes and supporting government revenue.
• Promoting industrial development.
• Reducing poverty through job creation.
5. Global Objectives
In today’s world of globalization, businesses also think beyond borders.
• Expanding internationally.
• Promoting India’s products abroad.
• Maintaining global standards of quality and ethics.
Scope of Business
The scope of business means the areas or fields it covers.
In simple words, it shows how wide the activities of business can be.
The scope is generally divided into three broad categories:
1. Industry
Industry refers to the part of business that deals with production of goods and
conversion of raw materials into finished products.
Types of Industries:
• Primary Industry: Extracts natural resources (e.g., mining, farming).
• Secondary Industry: Converts raw materials into goods (e.g., factories,
manufacturing).
• Tertiary Industry: Provides services to support other industries (e.g., transport,
banking, insurance).
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2. Commerce
Commerce includes all those activities that help in distribution of goods from producers
to consumers.
It includes:
• Trade: Buying and selling of goods.
• Aids to Trade: Activities that make trade easier like banking, insurance, transport,
warehousing, and advertising.
So, commerce acts as the bridge between producers and consumers.
3. Direct Services
These are services that directly help people, such as:
• Teaching
• Medicine
• Legal advice
• Entertainment
Though small in scale, these are essential parts of business life.
Importance of Business
Before concluding, let’s quickly understand why business is so vital in human society:
1. Satisfies human wants by providing goods and services.
2. Creates employment and helps reduce poverty.
3. Contributes to national income through taxes and exports.
4. Encourages innovation and progress.
5. Improves living standards by making life comfortable.
6. Builds economic stability and prosperity of the nation.
Conclusion: The Soul of Civilization
From a small shopkeeper in a village to a multinational company operating worldwide,
business is the heartbeat of human civilization.
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It connects people, fulfills needs, and drives progress. But the real essence of business
lies not just in profit, but in purpose—to serve society, improve lives, and create
opportunities for all.
As future business leaders, it’s important for you to remember:
“A good business is not one that only makes money—it’s one that makes a difference.”
2. Industrial Revoluon / Evoluon of Industry / Evoluon of Commerce
Appeared in: 2021 (Q2), 2022 (Q2), 2023 (Q2), 2024 (Q2)
Ans: A young apprentice named Thomas in 18th-century England wakes up before
dawn. For generations, his family had spun wool by hand in their cottage, selling small
bundles in the local market. But today, Thomas is not at home—he is walking to a
factory, a huge building filled with clattering machines powered by water and steam.
What once took his family days to spin, these machines can do in hours. He doesn’t
know it yet, but Thomas is living through a transformation so massive that it will change
not only his village, but the entire world.
That transformation is what we call the Industrial Revolution—a turning point in the
evolution of industry and commerce. Let’s walk through this story step by step, so it
feels alive, simple, and examiner-friendly.
The Industrial Revolution: A Turning Point
What Was It?
• The Industrial Revolution (roughly 1760–1840 for the first phase) was the shift
from handmade, small-scale production to machine-based, factory production.
• It began in Britain and spread to Europe, America, and eventually the world.
• It was not just about machines—it was about new energy sources (steam, coal),
new industries (textiles, iron, railways), and new ways of organizing work
(factories, wage labor).
Story Note: Imagine the difference: a weaver at home with a handloom vs. a factory
floor with hundreds of power looms running at once. The scale, speed, and output were
unimaginable.
Why Did It Begin in Britain?
• Natural Resources: Coal and iron were abundant.
• Agricultural Revolution: Better farming methods freed workers for industry.
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• Capital & Banking: Profits from trade and colonies funded machines.
• Political Stability: Britain had fewer wars on its soil and strong property rights.
• Inventive Spirit: Think of James Watt (steam engine), Hargreaves (spinning
jenny), Arkwright (water frame).
Evolution of Industry
The Industrial Revolution was not one event—it was a series of stages in the evolution
of industry.
1. Proto-Industry (Before 1760)
• Cottage industries: weaving, pottery, blacksmithing.
• Small workshops, family-based production.
• Commerce was local, with occasional long-distance trade.
2. First Industrial Revolution (1760–1840)
• Textiles: Spinning jenny, power loom revolutionized cloth production.
• Iron & Coal: Blast furnaces, coke smelting.
• Steam Power: James Watt’s engine powered factories, mines, and ships.
• Transport: Canals, then railways, connected markets.
3. Second Industrial Revolution (1870–1914)
• Steel, Chemicals, Electricity, Oil.
• Inventions: Telephone, light bulb, internal combustion engine.
• Rise of mass production and assembly lines (Henry Ford).
• Global trade expanded massively.
4. Third Industrial Revolution (20th Century)
• Electronics, computers, automation.
• Service industries grew alongside manufacturing.
5. Fourth Industrial Revolution (Today)
• Digital technologies, AI, robotics, biotechnology.
• Industry is now global, interconnected, and knowledge-driven.
Story Note: From Thomas in the textile mill to a coder in Bangalore today, the journey of
industry is a story of constant reinvention.
Evolution of Commerce
Industry and commerce are like twins—when one grows, the other follows.
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1. Ancient Commerce
• Barter system, local markets.
• Trade routes like the Silk Road connected India, China, and Rome.
2. Medieval Commerce
• Guilds controlled crafts and trade.
• Town fairs and caravan trade flourished.
• Banking families (like the Medicis) emerged.
3. Early Modern Commerce (1500–1700)
• Age of Exploration: Vasco da Gama, Columbus.
• Colonies supplied raw materials, Europe exported finished goods.
• Joint-stock companies (like the East India Company) were born.
4. Industrial Age Commerce (18th–19th Century)
• Factories produced goods on a massive scale.
• Railways and steamships expanded markets.
• Banks, insurance, and stock exchanges grew to support trade.
5. Modern Commerce (20th–21st Century)
• Globalization: multinational corporations, world trade organizations.
• E-commerce: Amazon, Alibaba.
• Digital payments, cryptocurrencies, and AI-driven supply chains.
Story Note: Imagine a merchant in 1600 carrying spices on a ship vs. a modern
entrepreneur selling products worldwide through an app. That’s the leap commerce has
taken.
Impact of the Industrial Revolution
Economic Impact
• Massive increase in production and wealth.
• Rise of capitalist economies.
• Growth of cities and urban markets.
Social Impact
• Migration from villages to cities.
• Harsh factory conditions, child labor, long hours.
• Rise of a working class and labor unions.
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Political Impact
• Rise of industrial powers like Britain, Germany, USA.
• Imperialism expanded to secure raw materials and markets.
• New ideologies: socialism, communism, liberalism.
Cultural Impact
• Education spread as literacy was needed for industrial work.
• Art and literature reflected industrial life (Charles Dickens, for example).
• Consumer culture grew—people bought more goods than ever before.
Recap in a Narrative Table
Stage
Industry
Commerce
Proto-Industry
Cottage crafts, hand tools
Local barter, small markets
First Revolution
Textiles, steam, iron
Railways, canals, banks
Second Revolution
Steel, electricity, oil
Global trade, stock exchanges
Third Revolution
Electronics, automation
Multinationals, global finance
Fourth Revolution
AI, robotics, biotech
E-commerce, digital payments
Wrapping the Story
So, the story of the Industrial Revolution and the evolution of industry and commerce
is really the story of how human beings learned to multiply their power.
• From hand tools to machines, from local barter to global e-commerce, every
stage has been about expanding possibilities.
• The Industrial Revolution was the great accelerator—it turned villages into cities,
craftsmen into factory workers, and merchants into global traders.
• Today, as we stand in the age of AI and digital commerce, we are living through
yet another revolution—one that Thomas, the young apprentice in 18th-century
England, could never have imagined.
Final Analogy: If human progress were a book, the Industrial Revolution was the chapter
where the story suddenly quickened—pages filled with steam, steel, and smoke, leading
us into the modern world of commerce and industry we live in today.
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