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Mr Vivek… (Class 12 Business Studies SQP 2024-25, Q24)

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Business StudiesCBSE Class 12 · Sample paper, session 2024-25 · 3 marks · Case-based

CBSE Class 12 Business Studies sample paper 2024-25: question 24

From the official CBSE sample question paper for 2024-25, section B, question 24, for 3 marks. Try it first; the hints and our step-by-step solution are below.

Q24 · 3 marks · Case-basedCompetency-basedBusiness Environment

Mr Vivek Vaswani, a foodpreneur combined his passion for food with his entrepreneurial skills and started his innovative fast food outlet OH CHILLI! in 2021. He had started his career as a food blogger and had noticed that numerous Indian consumers were looking for reasonable and pure vegetarian fast food options for dining out. The high end restaurants were not opted by many as they were exorbitantly priced. Though many global fast food chains were running across the country, yet not many outlets offered reasonable and healthy pure vegetarian fast food options to consumers. OH CHILLI! became a pioneer in offering a healthy and delicious variety of food.
What came as a surprise for consumers was that even without using onion or garlic in the pasta sauce, marinade and ketchup ,the food could actually taste great. The company witnessed an increase in net profit of 26% in its second financial year and became a market leader.

  1. (I)

    State the concept of business environment.

    1 mark
  2. (II)

    Identify and explain in what way, a good understanding of business environment enabled Mr. Vivek Vaswani to improve the performance of the enterprise.

    2 marks

Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2024-25.

Hints

Open one hint at a time and try again before the next.

Hint 1

He found a gap that no one was filling: what does that give a firm?

Hint 2

He was the first to fill it.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. (I) Business environment is the sum total of all individuals, institutions and other forces outside the control of a business enterprise that may affect its performance.

    1 mark

  2. (II) Identification of opportunities and first mover advantage.

    ½ mark

  3. Vivek noticed an unmet demand for reasonably priced, pure vegetarian fast food. Spotting this positive external trend early let OH CHILLI! exploit it before competitors, become a pioneer and market leader, and raise net profit by 26%.

    1½ marks

Answer: (I) The sum total of external forces that affect a business. (II) It helped him identify opportunities and gain first mover advantage.

Where the marks are

  • (I) Concept (1)
  • (II) Identification (½) + explanation (1½)

Revise the chapter

Practise this chapterBoard-style questions from Business Environment, one at a time, marked against the answer key and marking points.Back to the full paperSample paper 2024-25: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.