NCERT Books Class 11 Business Studies

Class 11 NCERT Books Available For Free Download on Extramarks

The National Council of Educational Research and Training (NCERT) is an organisation the Indian government has established to enhance the education level provided in India’s public schools. NCERT is in charge of developing and publishing all of the NCERT textbooks to establish a unified educational system. It creates educational kits and multimedia digital materials for students to use in their academic pursuits.

The official textbooks that the NCERT recommends for Classes 1 through 12 are being adopted by the Central Board of Secondary Education (CBSE) and many state boards. In addition to this, it is recommended that candidates consult the NCERT book when preparing for various competitive examinations such as IIT, NEET, and UPSC, among others. This is because the material presented in the textbook is organised and explained in a way that is straightforward. By reading through these books, one can begin with the fundamentals and work their way up to more advanced concepts.

Books published by NCERT for Class 11 Business Studies are up to date with the latest syllabus outlined by CBSE (Central Board of Secondary Education). The NCERT writes textbooks for all of the different fields. Books such as the NCERT Business Studies book for Class 11 offer a comprehensive analysis of each and every chapter that is a part of the curriculum.

NCERT Books for CBSE Class 11 Business Studies

Chapters Comprised in NCERT Business Studies Book for Class 11

Students who are enrolled in class 11 will find a total of eleven chapters in the NCERT Business Studies textbook. The phrase Foundations of Business refers to the section of the book that comprises the first six chapters of the book. In the following chapters, we will discuss business, including its various forms, modes, and social aspects. The NCERT book for Class 11 Business Studies contains Part 2, comprising Chapters 7, 8, 9, 10, and 11.

This book is titled Corporate Organisation, Finance, and Trade and discusses additional complexities associated with running a business. These lessons will explain how businesses are established and how the necessary financial arrangements are made. Additionally, chapters on Trade and International Business are included in the NCERT Business Studies (BST) book.

Chapter-Wise Analysis of the NCERT Book of Class 11 Business Studies

Chapter 1: Business, Trade and Commerce

The first section of chapter 1 is devoted to the history of trade and commerce. After providing a comprehensive explanation of the early indigenous banking system, the author then discusses the rise of intermediaries.

Students are given information regarding the following subjects as per the history of trade in India in the first chapter of the NCERT book for Business Studies Class 11.

• Transport
• Merchant corporations
• Major trade centres (Pataliputra, Peshawar, Taxila, Indraprastha, Mathura, Varanasi, Mithila, Ujjain, Surat, Madura, Broach, Kaveripatta, and Tamralipti)

The next topic that will be covered in this chapter is the role that the Indian subcontinent played in the global economy between the years 1 AD and 1991. The following are some of the other topics covered in the first chapter of the NCERT Business Studies book for Class 11:

• Concept of Business
• Characteristics of Business
• Comparison of Business, Profession and Employment
• Classification of Business Activities
• Industries
• Trade and Commerce

Near the end of this chapter, we will talk about a business’s objectives and the risks it faces.

Chapter 2: Forms of Business Organisation

Businesses have many different organisational structures, such as sole proprietorships, joint Hindu family businesses, partnerships, cooperative societies, and joint-stock companies. The various characteristics of all these business forms are detailed in chapter 2 of the NCERT textbook for Business Studies Class 11. This chapter also comprehensively analyses the benefits and drawbacks of each type of business structure.

There are two distinct varieties of companies. You have the option of keeping a company private or making it public. Students learn about the various roles that each type of business plays in this chapter. The considerations that go into selecting a particular business organisation form are also broken down in greater detail. These are:

• Cost and ease of setting up an organisation
• Liability
• Continuity
• Management ability
• Capital considerations
• Degree of control
• Nature of business

At the very end of the chapter, you’ll find a glossary of important terms related to the chapter’s content.

Chapter 3: Private, Public, and Global Enterprises

In the NCERT textbooks for Class 11 Business Studies, the topic of introduction to the private and public sectors of an economy is covered in the third chapter. It describes the characteristics, advantages, and disadvantages of both markets. This lesson provides a brief overview of statutory corporations and public enterprises. These companies were launched into existence as a result of a specific act passed by the parliamentary body.

The shifting function of the public sector in an economy is broken down and discussed in chapter 3. Also covered are global enterprises and the characteristics that distinguish them. Joint ventures are discussed, which is another important topic covered in chapter 3. There are two distinct varieties of partnerships that are considered joint ventures. They are:

Contractual Joint Venture (CJV)

Equity-based Joint Venture (EJV)

This section includes various examples, characteristics, and advantages of joint ventures. A discussion of public-private partnerships is included at the very end of the chapter.

Chapter 4: Business Services

In the fourth chapter of the BST NCERT book for class 11, there is a discussion about the nature of business services. In the realm of services, this is also referred to as the 5 ‘I’s. They are as follows:

• Intangibility
• Inconsistency
• Inseparability
• Inventory
• Involvement

There are several distinct kinds of services, including personal, social, and business. All of these services are broken down in detail in this very chapter. In addition, the distinction between products and services is covered in chapter 4.

This chapter presents an in-depth analysis of a variety of banking institutions, including:

• Commercial banks
• Cooperative banks
• Specialised banks
• Central bank

In the NCERT Business Studies book for Class 11, e-banking is a significant topic covered in chapter 4. Under the subtopic of insurance, we have talked about the following:

• Types
• Principles
• Functions

The chapter comes to a close with a discussion on communication services, such as postal services and telecommunications services.

Chapter 5: Emerging Modes of Business

The most recent modes of business activities are discussed in chapter 5 of the Business Studies book for Class 11 that NCERT publishes. One possible label for it is e-business. This chapter presents a comprehensive analysis of the potential applications of e-business in the modern world. Many advantages of conducting business online have been enumerated, and these advantages apply to business organisations and society.

On the other hand, some of the drawbacks of conducting business online have also been discussed. This chapter includes a chart that compares and contrasts traditional businesses with online businesses. The chart focuses on the advantages and disadvantages of each kind. The necessary resources, which must be assembled to carry out e-business implementation effectively, are discussed in chapter 5.

Another topic that is covered in this chapter of the BST NCERT book for Class 11 is outsourcing. The many requirements and worries that are associated with outsourcing have been broken down in detail.

Chapter 6: Social Responsibilities of Business and Business Ethics

The topic of social responsibility for a company’s operations is discussed in chapter 6. This lesson will explain why it is necessary for businesses to have a social responsibility. In chapter 6, we have included a comprehensive guide outlining the arguments favouring and against social responsibility. The following are some of the many points that can be made in support of social responsibility: –

• Justification for existence and growth
• The long-term interest of the firm
• Avoidance of government regulation
• Maintenance of society
• Availability of resources with business
• Converting problems into opportunities
• A better environment for doing business
• Holding businesses responsible for social problems
• Arguments against social responsibility include-
• Violation of profit maximisation objective
• Burden of consumers
• Lack of social skills
• Lack of broad public support

The reality of social responsibility and its various forms is discussed in some detail in chapter 6 of the NCERT Business Studies book for Class 11. Included here is a discussion on environmental pollution and the role businesses play in protecting the environment.

Chapter 7: Formation of a Company

The ins and outs of establishing a new business are detailed in chapter 7. Promotion is essential in establishing a new business and is, therefore, one of the most important aspects. This lesson will educate students on the many different roles that a promoter can play.

In Chapter 7, we go over and go over the various documents that must be handed in when forming a company. These documents are required to get the company formation process started. This chapter of the NCERT textbook for class 11 Business Studies explains the other requirements for establishing a company. These formalities consist of the following:

• Incorporation
• Capital subscription

Chapter 7 explains the distinctions between the Memorandum of Association and the Articles of Association concerning the organisation’s goals, position, relationships, and whether or not they are valid and necessary.

Chapter 8: Sources of Business Finance

Business finance’s meaning, nature, and significance are discussed in the eighth chapter of the NCERT textbook for Business Studies (BST) Class 11. Chapter 8 divides various aspects of a company’s financial situation into categories. This consists of:

Fixed capital requirements

Working capital requirements

This is followed by a chart that presents a classification of the different sources of funding in the organisation. One can categorise the origins of funds according to the time period, ownership, the source of generation, and other factors. The various avenues of financial support and the benefits and constraints associated with each are discussed. These are the sources that were mentioned:

• Retained earnings
• Trade credit
• Factoring
• Lease financing
• Public deposits
• Commercial paper
• Issue of shares
• Debentures
• Commercial banks
• Financial institutions

The final portion of this lesson will focus on international economics and finance.

Chapter 9: Small Business

The various kinds of small-scale businesses are broken down into specific categories in chapter 9 of the CBSE Class 11 Business Studies NCERT book. The manufacturing and service industries are broken down in great detail. The following are the three primary categories of both manufactured goods and service industries:

• Micro-enterprise
• Small Enterprise
• Medium enterprise

In addition to that, the chapter includes some notes on the cotton and village industries. It analyses the function of small businesses in India, particularly in rural India.

The assistance provided by the government to small business enterprises is another topic covered in chapter 9. The following are some of these countermeasures:

• National Bank for Agriculture and Rural Development (NABARD)
• Rural Small Business Development Centre (RSBDC)
• National Small Industries Corporation (NSIC)
• Rural and Women Entrepreneurship Development (RWED)
• Scheme of Fund for Regeneration of Traditional Industries (SFURTI)
• District Industries Centres (DICs)

Chapter 9 also explores the concept of Intellectual Property Rights (IPR) and its significance in detail in the NCERT Business Studies book for Class 11.

Chapter 10: Internal Trade

The topic of wholesale trading is covered in this chapter for the students. The following is a list of some of the services that wholesale manufacturers offer:

• Providing support for production on a large scale
• Bearing risk
• Financial assistance
• Expert advice
• Help in a marketing function
• Facilitate production continuity
• Storage

The following is a list of the services that manufacturers provide to retailers:

• The accessibility of various goods
• Assistance with marketing
• Provision of credit
• Expertise in a particular field
• Risk sharing

Following that, the topic of retail trading has been covered in this chapter of the NCERT Business Studies book for Class 11. The following is a list of the services provided by retailers:

• Contribute to the movement and distribution of goods
• Personal selling
• Making operations possible on a massive scale
• Information gathering regarding the market
• Help in Promotion

In addition, the workings of the Goods and Services Tax (GST) are broken down in chapter 10. 

Chapter 11: International Business

This chapter lays out the definition of international business in great detail. It provides an in-depth analysis of the factors that contribute to international business. The domestic and international business differences are also compared and contrasted in chapter 11.

This lesson will also cover how one can break into the international business world. Some examples are:

• Exporting and importing
• Contract manufacturing
• Licensing and franchising
• Joint Ventures
• Wholly owned subsidiaries

The International Bank for Reconstruction and Development, more commonly referred to as the World Bank, is covered in great detail in chapter 11 of the NCERT Business Studies book for Class 11. The International Monetary Fund (IMF) and the World Trade Organization are two additional important topics that are covered in this chapter (WTO).

Why are NCERT books considered best for exam preparations?

Books published by the NCERT have upheld their reputation as being among the most helpful resources for students studying for the CBSE examinations for over three decades. The official website now has all of the NCERT books, including those for Class 11 Business Studies and Commerce and all of the other publications. Students can download PDFs to read the chapters whenever they want and wherever they are.

The NCERT textbooks have received the highest ratings and the best reviews from students for various reasons. The following is a list of some of those reasons:

The NCERT books provide a detailed explanation of every subject that is on the CBSE-mandated curriculum. Students can perform better on examinations if they have comprehensive subject knowledge. Students are guaranteed to have a comprehensive understanding of the underlying principles of each and every chapter if they perform an accurate analysis of all concepts.

Textbooks published by the NCERT have been written using an open and uncomplicated language structure. The purpose of doing so is to shorten the amount of time it takes for students to understand each chapter. Students frequently struggle to understand the material in school textbooks because the language used to write the books is difficult. The NCERT books have a straightforward format that makes it easier for students to understand the chapters and remember the lessons for longer.

In each of the NCERT books, there is a list that contains essential information and key phrases related to a specific chapter. This is done to ensure that students pay heightened attention to the terms above and ideas. It is highly likely that questions will be asked using precisely these terms.

Diagrams, charts, tables, and examples are included in each chapter to make the material more understandable. All of these things assist students in easily understanding even the most challenging chapters. After going through the examples, diagrams, and charts, a student will no longer have any questions or concerns regarding the text that they are studying.

Books published by NCERT, such as the NCERT Business Studies book for Class 11, do not skim over the material required by the CBSE. It breaks down each concept into its component parts and explains them orderly, just as a lecture would do in a classroom setting. The ideas discussed in each chapter have been arranged logically so that one idea naturally leads to the next.

Every single one of the NCERT books has been written and compiled by knowledgeable academics with years of teaching experience. Their in-depth understanding of each topic was incorporated into the corresponding textbooks.

The NCERT series of textbooks is known for its user-friendly layout and layout design. This feature prevents books from becoming repetitive and dull for the reader. Students find the process of reading their assigned chapters from NCERT books to be interesting. They cannot disengage from the activity, and their desire to read and increase their knowledge grows as a result.

The characteristics described above can be found in every single book published by the NCERT, irrespective of the topic or grade level covered.

How do Extramarks guide students in academics?

Extramarks is well-known for illuminating the path that leads to examination success for students. They can achieve high marks in board exams thanks to the thorough guidance and unending support they receive from their tutors. The Extramarks app includes many beneficial features, two of which are online classes and live interactive sessions with the instructors.

Additionally, parents rely on the Extramarks app because they know how effectively it delivers individualised attention to each and every student. This application has quickly become one of India’s most popular educational platforms.

Tips for Attempting the Paper

If you want to do well on this test, you should be well-versed in the material and have a rough notion of how you plan to approach the paper. The test strategies listed here will help you master the paper.

1) A 15-minute understanding period: Students are given a 15-minute understanding period during the exam. Therefore, read the exam paper in its entirety in the time allotted. Examine the question paper thoroughly, paying special attention to HOTS, value-based, and case study-based questions, and plan how to respond in the best way.

2) Responding to questions in line with allotted marks: There will be questions with 1, 3, 4, 5 and 6 marks throughout the test. Keep your answers within the allotted word count. Write your response in one word or one sentence for 1 mark. Write three key points with proper justification for three reasons. Write 4 key points with proper justification for 4 points. Additionally, 6 markers should have 6 with the necessary explanation, and 5 markers should have 5 essential points.

Always remember that including more material won’t increase your grade; instead, it will waste your time.

3) Using examples: Since it earns points, use examples whenever you can. You can answer questions on board standards, aspects of the business environment, different types of plans, official and informal associations, preparation techniques, and elements of the marketing mix.

4) Presentation: A strong performance and the necessary information can help you receive full marks for the paper. Use a highlighter or underline or highlight key phrases, catchphrases, and headings in the responses. You should do it simultaneously rather than waiting till the finish.

The responses must be separated properly. After each point, you should leave a line blank. If at all possible, display the solutions as diagrams. For example, you could describe the divisional structure, functional structure, controlling process, and scalar chain using diagrams.

5) Word count: Because the CBSE wants succinct answers and to the point, you should avoid writing lengthy responses. Long responses won’t win you any extra marks and will waste your time and make you less productive. You should break up the remaining time you have to answer the last questions into extremely quick and lengthy responses so that you don’t use up all of the given time.

6) Try to attempt every question: Instead of ignoring a question entirely, you should formulate and respond to it using what you know. This is because writing anything will earn you some points, presuming the answer and not trying it will not.