business environment project pdf

Chapter 3. Project Initiation

3.2 Project Environment

When the business case and the project charter, and later, the project management plan and its subcomponents are prepared, the project environment surrounding the project should be examined thoroughly to delineate the factors that may have a negative or positive impact on the project activities and its outcomes. In PMBOK Guide 6th Edition, this environment is composed of enterprise environmental factors (EEFs) and organizational process assets (OPAs). PMBOK Guide 7th edition refers to them as the project environment. The project environment is composed of two components – internal and external, which are described in detail in the following sections.

3.2.1 Internal Environment

The internal environment in which a project is developed consists of the factors that are internal to the organization, but outside the project itself. These factors include elements such as organizational culture, structure, and governance as well as security and safety measures. Other tangible elements include geographic location as well as distribution of facilities and resources, infrastructure, IT software and hardware, resource availability, and employee capability. The internal environment also includes organizational process assets, which are processes, policies, and procedures as well as organizational knowledge bases (e.g., financial data, historical information, lessons learned, project files from previous projects) [1] .

Consider the project charter example above. While we are creating the business case as well as preparing the project charter and project management plans, it would be wise to incorporate all the factors that may affect the mobile app and website optimization project. We should enumerate the main properties of our grocery store chain, some of which are provided below:

• Strategic objectives, mission, and vision
• Organizational values and beliefs
• Cultural norms that influence the relationships among coworkers
• Code of conduct
• The number of employees
• Geographic locations and the size of the stores
• Variety of the products and services sold
• Financial situation

We should also take into account the organizational structure of the headquarters and all the branches. This also helps us identify internal and external stakeholders who are affected by our project and who may affect our project. Additionally, this helps us identify the dependencies among the departmental units, and also identify internal resources that might need to be utilized to complete the project. Reporting structure inside the organization could influence our project’s decision-making and change request processes. When our project needs to utilize hardware and software tools to facilitate the activities, we can obtain them in an expedited way directly from the assets of our organization, which also saves the budget. When we need resources such as human resources, materials, and equipment, since we have already delineated the organizational structure with tasks and responsibilities of each unit, we can benefit from the agreements which have already been made with approved providers and subcontractors. Another advantage of listing all the capabilities of our organizations would be when we establish the project team. If our organization employs business or systems analysts, developers, user interface designers, or testers, we can ask their managers or executive-level managers above these managers to provide these qualified employees with specialized knowledge for our project. This may also reduce the external risks that we may face if we hire them from outside our organization. We will elaborate on the organizational structure in the “Organizational Structure” section below.

3.2.2        External Environment

A project’s external environment consists of the factors that exist outside of the organization. It includes market conditions, social and cultural influences and issues, legal restrictions, commercial databases, academic research, government or industry standards, financial considerations, and physical environmental elements [2] .

Figure 3.2 illustrates types of general macro environments and forces that are interrelated and affect organizations: sociocultural, technological, economic, government and political, natural disasters, and human-induced problems that affect industries and organizations. Macro environment refers to the outermost layer of elements in a firm’s external environment that can impact a business but are generally beyond the firm’s direct control, such as the economy and political activity. This environment can also affect projects conducted by organizations. For example, economic environmental forces generally include such elements in the economy as exchange rates and wages, employment statistics, and related factors such as inflation, recessions, and other shocks—negative and positive. Additional factors include hiring and unemployment, employee benefits, factors affecting organizational operating costs, revenues, and profits, all of which are affected by global, national, regional, and local economies. Politics and governmental policies, international wars, natural disasters, technological inventions, and sociocultural forces could directly affect our organization and the projects or may interact with other forces such as economic forces.

Besides the macro environment as explained above and illustrated in Figure 3.2, the micro environment is another external environment element that refers to the middle layer of elements in a firm’s external environment, primarily concerned with a firm’s industry situation. Harvard strategy professor Michael Porter developed an analysis tool to evaluate a firm’s micro environment. Porter’s Five Forces is a tool used to examine different micro-environmental groups in order to understand the impact each group has on a firm in an industry (Figure 3.3). In this textbook, we will not explain each factor (See the reference link [3] ). However, these five factors, industry rivalry, the threat of new entrants, threat of substitutes, supplier power, and buyer power, could have a substantial influence on a project. Therefore, we should take these external factors into account while assessing the factors that may affect our project from outside the organization.

It is important to keep these external factors in mind when preparing for and managing a project since many if not most of these external factors and any changes in these factors may have negative or positive impacts on projects. They could lead to risks that may put the project activities and deliverables, and the overall project in jeopardy.

• Project Management Institute. (2017). A guide to the Project Management Body of Knowledge (PMBOK guide) (6th ed.). Project Management Institute. ↵
• Project Management Institute. (2021). A guide to the Project Management Body of Knowledge (PMBOK guide) (7th ed.). Project Management Institute. ↵
• Principles of Management. (2019). Retrieved from https://openstax.org/books/principles-management/pages/8-4-a-firms-micro-environment-porters-five-forces?query=micro%20environment&target=%7B%22type%22%3A%22search%22%2C%22index%22%3A0%7D#fs-idm537041840 ↵

Project Management by Abdullah Oguz is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License , except where otherwise noted.

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Understanding the Business Environment

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Business Environment Project Class 12, Element, Topic

Business Environment Project, Definition and Its Factors is given here. In this article, you will get to know the factors affecting the business environment.

Table of Contents

Business Environment

The business environment is the collection of factors like employees, clients, supply and demand, management, clients, suppliers, investors, and a lot more. Business Environment affects the working of a company.

The business environment helps to identify the goals, planning, execution, and internal working of a company. The business environment is an integral part of any organization.

What is Business Environment?

Various forms of organization are available in a business environment. They are Sole Proprietorship, Partnership, Co-Operative Societies, Statutory Bodies, and Corporations.

Each form has a different company base, brand value, including the other properties. Sole Proprietorship companies are those where the company is owned by a sole person/family.

In partnership firms, two or more partners equally share the responsibilities of the company. They also have equal shares in the profit earned. Corporations are the ones where a huge number of employees work and have branches all over the region.

Business Environment- Definition

The phrase “ business environment ” refers to the whole of all individuals, groups, and other entities that operate independently of the industry but have the potential to influence its output. “Like the universe, withhold from it the subset that represents the system and the rest is environment,” wrote an unknown author. Therefore, an enterprise’s environment includes the financial, cultural, governmental, technological, and other elements that operate outside of it. The environment of an enterprise is made up of the specific clients or competing businesses, as well as the management, clientele, rivals, media, legal systems, and other organizations operating outside.

Business Environment Project Features

• Complexity: The business world is complex, making it simple to comprehend certain aspects independently but challenging to comprehend all at once.
• Relativity: The impact of the business climate varies from nation to nation, area to region, and company to company. For instance, juice producers would appreciate a movement in consumer preference from soft drinks to juices, whereas soft drink producers would see it as a threat.
• The totality of external forces: A business firm’s environment is made up of all the forces and causes that are external to it.
• Specific and general forces: Both specific and general forces are present in the business environment. Investors, rivals, consumers, and other specific forces have an impact on a business firm directly. In contrast, general forces, including social, political, economic, legal, and technological conditions, have an impact on a business firm indirectly.
• Inter-relatedness: All dynamics and elements that affect a business environment are interconnected. For instance, growing interest in health care has increased demand for roasted snacks and organic food.
• Dynamic: The nature of the business environment is always changing due to advancements in technology, shifts in consumer preferences, and other factors.

Business Environment Project Dimensions

Economic environment.

It alludes to the factors that influence business operations economically. Business is a recognized example of an economic organization. Its expansion and existence are therefore reliant on economic reasons. Numerous factors, including inflation, interest rates, price levels, the amount of money on the market, and others, are part of the economic environment. These elements can either present a business with an opportunity or a threat. As a result, management constantly works to seize chances and turn dangers into advantages.

Social Environment

A business’s social environment consists of long-standing traditions, cultures, and conventions. Any change in the social environment will have an impact on the availability of labor, capital, and consumer demand for a given good.

Technological Environment

The broad aspects of science and technology in which a business enterprise operates are referred to as the technological environment of a business. It contains forces related to innovation and technological advancement, which creates a newer foundation for manufacturing goods and services, as well as efficient company management processes and practices.

Political Environment

The broad characteristics of the political system in which a business enterprise operates are referred to as the political environment. These characteristics include political conditions like general peace and stability in the nation as well as particular attitudes that the elected government representatives have towards the business enterprise. These factors have a big impact on how the firm operates on a daily basis. Businessmen have more faith in political parties because they operate within the constraints of the political environment when there is political stability.

Legal Environment

It refers to the fundamental elements of the legislative framework under which a corporate firm operates, including the many laws the government introduces and passes in the parliament or state legislature. Additionally, administrative directives from courts and government agencies, as well as decisions based on committee recommendations, are involved.

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Business Environment Project Class 12 with Topic

Creating a project on the business environment for a class 12 course typically involves researching and presenting information about the various factors and forces that impact businesses. Here’s a general outline of what your project could include:

• “Analyzing the Business Environment: Implications and Challenges”

Introduction:

• Briefly introduce the concept of the business environment and its importance.
• Explain the objectives of your project.

Chapter 1: Understanding the Business Environment

• Define the business environment and its components.
• Explain the significance of studying the business environment for companies.
• Discuss the dynamic nature of the business environment.

Chapter 2: Internal Environment

• Explain the internal factors that influence a business, such as organizational structure, culture, and resources.
• Provide examples and case studies illustrating how these internal factors impact businesses.

Chapter 3: External Environment

• Discuss the various components of the external environment, including the macro environment and micro environment.
• Analyze the impact of factors like political, economic, social, technological, environmental, and legal forces on businesses.

Chapter 4: SWOT Analysis

• Explain the concept of SWOT analysis (Strengths, Weaknesses, Opportunities, Threats).
• Conduct a SWOT analysis for a chosen business to demonstrate the practical application of this tool.

Chapter 5: Competitive Environment

• Explore the competitive forces that affect businesses, including Porter’s Five Forces model.
• Analyze how these competitive forces can shape a business’s strategy.

Chapter 6: Global Business Environment

• Discuss globalization and how it affects businesses.
• Highlight the opportunities and challenges that arise from participating in the global economy.

Chapter 7: Regulatory Environment

• Explain the importance of government regulations in the business environment.
• Discuss how regulatory changes can impact businesses and provide examples.

Chapter 8: Social Responsibility and Business Ethics

• Discuss the role of businesses in society and the concept of corporate social responsibility.
• Explore the importance of ethical behavior in the business environment.

Chapter 9: Business Environment and Strategy

• Explain how an understanding of the business environment is essential for strategic planning.
• Provide examples of how businesses adapt their strategies based on environmental factors.

Chapter 10: Case Studies

• Present real-world case studies that illustrate the impact of the business environment on different companies.
• Analyze the strategies these companies used to navigate the challenges and opportunities.

Conclusion:

• Summarize the key points of your project.
• Emphasize the importance of businesses being adaptive and responsive to their environment.

Recommendations:

• Provide recommendations for businesses on how to better navigate their respective business environments.

References:

• Cite all the sources you’ve used for your project.
• Include any additional data, charts, or graphs that support your project.

Presentation:

• Prepare a PowerPoint presentation to accompany your project, summarizing the key points for your class presentation.

Elements of Business Environment Class 12 Project

A Class 12 project on the elements of the business environment typically involves an analysis of various factors that influence and affect businesses. Here are some key elements to include in your project:

• Overview of the national and global economic conditions.
• Factors like inflation, GDP growth, interest rates, and exchange rates.
• Impact of economic policies on businesses.
• Demographic trends and their influence on consumer behavior.
• Social values, norms, and cultural factors affecting business decisions.
• Social responsibility and ethics in business.
• Government policies, regulations, and their impact on businesses.
• Analysis of legal frameworks, contracts, and intellectual property rights.
• Political stability and its effect on business operations.
• Advancements in technology and their impact on business innovation.
• Adoption of digital technologies, automation, and e-commerce.
• Cybersecurity and data protection in the digital age.
• Analysis of competitors in the industry.
• Porter’s Five Forces analysis (bargaining power of suppliers, buyers, threat of new entrants, rivalry, and substitutes).
• Strategies for sustainable competitive advantage.
• Environmental regulations and sustainability practices.
• Impact of climate change on businesses and their response.
• Corporate social responsibility (CSR) and green initiatives.
• International trade and globalization.
• Export-import policies and barriers to global expansion.
• Multinational corporations and global supply chains.
• Population trends and their impact on market demand.
• Age groups and generational differences affecting consumer preferences.
• Workforce demographics and labor market dynamics.
• Market segmentation and target customer analysis.
• Market trends, demand-supply dynamics, and market research.
• Marketing strategies and branding in a competitive market.
• Economic Indicators:
• Key economic indicators such as GDP, inflation rate, unemployment rate, and consumer confidence index.
• How these indicators affect business decision-making.
• Government Policies and Regulations:
• Analysis of specific government policies and regulations relevant to your chosen business or industry.
• How businesses comply with or adapt to these policies.
• Business Ethics and Social Responsibility:
• Discuss the importance of ethical business practices.
• How businesses address social and environmental responsibilities.

In your project, you can choose to focus on one or more of these elements, depending on your interests and the scope of your project. Ensure that you provide relevant examples, case studies, and data to support your analysis. Also, consider the impact of the COVID-19 pandemic on the business environment, as it has had a significant influence on businesses worldwide.

Business Environment and Types

There are multiple factors by which we can decide the type of business organization. The factors include the brand value, size of the organization, quality of the work done by the company, etc. A business can be classified according to small-sized, medium-sized, and large organizations.

Relativity in the Business Environment

An ideal business environment is the one through which the company flourishes and the employee’s productivity is maximized. It can be achieved by taking proper measures that can help to establish the communication between the employees and the management of a company.

Regular checks can also be done to ensure whether the environment is safe and sound for the employees or not. The client’s feedback also can be taken to improve the business environment.

There should also be regular interactions between the people of higher positions in the company and the regular employees. This can help to spread the motive of the company. This will help the employees to have a specific target along with a valid reason to work in the organization.

Business Environment is required for a company for the following reasons.

• Helps to plan the investment accordingly.
• Helps to strategize plans and opportunities.
• Helps to identify estimated loss that might occur if corrective measures are not taken in time.
• Helps to manage resources.
• Helps to measure the productivity of an employee in a company.
• Helps to establish intercommunications between the different teams of a company.

These are the reasons why a business environment is helpful.

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Business Environment Features

Usually, management people are responsible to ensure the business environment in an organization. Also, the regular employees, clients, and the ones related to the company regularly are responsible for the proper functioning of a business environment.

(A) The totality of External Forces in Business Environment

• The business environment includes everything which is outside the organization.
• If we add all these forces and systems, they will form a business environment for the organization.

Example:  When Coca-Cola & Pepsi got permission from Govt. of India to set up their business in India, it was an opportunity for them and a threat for local manufacturers like gold spot, camp-cola, etc to improve their business.

(B) Specific and General Forces in Business Environment

• Specific forces are those forces that directly affect the operational activities of the business enterprise like manpower,raw material, etc.
• Example: Suppliers, Customers, Investors, Competitors, Financers, etc.
• General forces are those forces that indirectly affect the functioning of business enterprises.

Example: Economic, Social, Political, Legal, and Technological conditions of business.

(C) Inter-relatedness of systems in Business Environment

• Different forces of the business environment are interrelated to each other.
• In a Business Environment System, one component of the business environment affects the functioning of various other components.

Example: The increased life expectancy of people and awareness of health consciousness has increased the demand for many health products like diet coke, olive oil, organic products and so many health products.

(D) Dynamic Nature of Business Environment

The business environment is dynamic in nature and it keeps on changing in terms of many components :

(a) Technological improvement in Business Environment,

(b) Shifts in consumer preferences in the market,

(c) The entry of new competition of your feild in the market.

Example: Many established companies in FMCG (Fast Moving Consumer goods) sector are focusing on producing goods with natural ingredients with the entry of ‘Patanjali Products’ in the market.

(E) Uncertainty in Business Environment

• The rapid changes in the business environment cannot be predicted accurately because of future uncertainties in the market.
• It is very difficult task to predict the changes in the economic and social environment of the Business Environment.

Example : There has been a sharp decline in the prices of Android smartphones due to the entry of many new companies in the market.

(F) Complexity in Business Environment

• All forces of the Business environment are interrelated and dynamic, which makes it difficult to understand for newer onces.
• The complex nature of the Business environment can be understood if we study it in parts.

(G) Relativity in Business Environment

• Business Environment differs from place to place, region to region, and country to country.

Example: In China and South Korea, the electricity to the industry is provided at cheaper rates as the consumption increases, and hence, it leads to mass production whereas, in India, it is otherwise, higher consumption of electricity leads to costly electricity to industies which results in lower production & higher cost of production in India.

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Business Environment and Its Affecting Factors

External factors.

A socio-economic entity is a business. As a result, society’s numerous facets are fundamental to the success or failure of every organization as well as to the environment it operates in. PESTLE is a phrase frequently used to describe elements in the external business environment. Political, economic, social, technological, legal, and environmental factors are all represented by this acronym.

• Political Factors

Every component of politics has an impact on a business, from the geographic political climate to the international relations it maintains. While some nations have business-friendly legislation, others have business-restrictive laws. The state of local politics and how it interacts with other nations have a significant impact on the state of business.

• Technical Aspects

One of the main forces in today’s world is technology. Businesses that are unable to keep up with the current technological advancement are finding it difficult to survive. And companies that are utilizing technology to their advantage are outpacing their rivals. Over the past few decades, IT has established itself as a major industry.

• Economic variables

The majority of nations currently experience extremely unstable economies. And this applies to all businesses, big and small. The existence of the open market has, nevertheless, also proven very advantageous for enterprises. The majority of big companies must constantly be mindful of their influence due to the volatility of the global economy.

Internal Factors

An organization in the business is defined by the forces that exist inside it. These include the managerial style, the level of machinery utilized, and the work environment. The main internal elements that influence the business environment are listed below.

• Human Resources

A relatively recent idea that has taken over the business world is human resources. Human resources are responsible for managing personnel on a micro level while firms get bigger every day. As a result, it is crucial to establish the business environment.

• Physical Resources

Every business needs resources to function, and how these resources are managed has a significant impact on the environment inside the company.

Enterprise Path

Every business has a reason for being and a goal to accomplish. The business path is made up of these two elements and how the company envisions itself in the future. These lay out the adjustments that will be made to the corporate structure.

One of the key components of the internal business environment is the hierarchical or non-hierarchical structure of the company that establishes the roles of each employee and management. Different corporate structures exist, including matrix, bureaucratic, and functional ones.

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Why is the business environment unreliable?

It is argued that the business environment is unpredictable since it is challenging to foresee future events, particularly when environmental changes occur too often.

What does a dynamic work environment mean?

A dynamic environment is one where business is taking place and changing quickly.

Why is the concept of the business environment relative?

Since business environments vary from nation to nation and even region to region, they are a relative concept.

What constitutes the primary elements of the business environment?

The business environment has five aspects. These are the areas of the economy, social, law, politics, and technology.

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Managing the Project Environment

Cite this chapter.

• R. Max Wideman  

453 Accesses

5 Citations

Today’s technological disciplines responsible for new facility and infrastructural projets are now becoming seriously attuned to the idea of concern for the physical environment. Certainly, the projects managers of such projects need to be similarly aware or these concerns and manage their projects accordingly. This applies to both the project’s long term impacts arising out of the project’s conceptual formulation, as well as its shorter term construction impacts arising during execution.

However, today’s project manager also needs to be attuned to the cultural, organizational and social environments surrounding the project. Understanding this environment includes identifying the project stakeholders and their ability to affect its succesful outcome. This leads to the possibility of influencing this environment in a positive way, for the better reception of the change with the project is designed to intoduce.

Thus, the influencable risks involved may be significantly reduced, and failure to take such an approach will inevitably lead to a less than satisfactory outcome. This chapter discusses various aspects of the project environment, and suggests ways in which it may be influenced in order to increase the probability of a succesful outcome.

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Wideman, R.M. (1990). Managing the Project Environment. In: Reschke, H., Schelle, H. (eds) Dimensions of Project Management. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-49344-7_5

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Business Studies Class 12 Project: Marks Distribution, Topics, and More

• Updated on  
• Jan 16, 2024

Looking for a Class 12 Business Project? CBSE has mandated students to prepare a project as part of the Class 12 Business Studies syllabus wherein they can conduct their own research, gather primary or secondary data and make inferences out of the results in a presentable way. If you are struggling to make a nice project and want to have good guidance, read on to find everything you need to know about the Business Studies class 12 project and BST project class 12 on marketing management , principles of management, stock exchange and more.

This Blog Includes:

• CBSE BST Project Class 12 2023-24: Marks Distribution

CBSE Class 12 BST Project Topics 2023-24

Marketing management, elements of business environment , principles of management project in business studies, stock exchange, important guidelines, cbse bst project class 12 2023-24 : marks distribution.

The revised Business Studies Class 12 syllabus 2022-23 allotted 20 marks to the project work. Take a look at the distribution of marks for Class 12 Business Studies Project 2023-24: 

Click here to download the official CBSE Class 12 Business Project Topics

Here are the best BST project class 12 topics:

• Elements of Business Environment 
• Consumer Protection

Also Read: Controlling Class 12: Important Revision Notes

For this BST project class 12 on Marketing Management, The students can consider the following products and conduct research to gather information about the various aspects concerning the marketing of the product. Some of the most prominent and sought-after products are mentioned in the table below:

The students can choose either of the aforementioned or any of the products permissible by the teacher for their Business Studies Project. Taking any one of the products into consideration, the students will have to gather information on the following parameters.

• Profit margin in percentage to the manufacturer, wholesaler and retailer
• Packaging of the product
• Selling price to the consumer
• Promotion or marketing of the product
• Identify the USP
• Type/category of product
• Grading and standardization
• Channels of distribution

Also Read: Courses & Career Options in Commerce without Maths

In this topic of the Business Studies class 12 project, given below are the important elements of the business environment:

• Changes witnessed in packaging and economic impact over the last few years in relation to products like fruits and vegetables, plastic/wooden furniture, milk, reuse of packages, packages as a means of advertisement, etc.
• Reasons behind the changes in “ Coca Cola and Fanta in the 70s decade to Thums up and Campa Cola in the 80s decade to Pepsi and Cola in the 90s. ”
• Changes in the patterns of export and import of different products.
• The law, effects and implementation of the anti-plastic campaign.
• Social factors affecting acceptance and rejection of an identified product (atta maker, dishwasher)
• Effect of changes in the technological environment on employee behaviour. 

Also Read: Top 20 Career Options in Commerce with Maths Stream

Under this subject of the Business Studies class 12 project, the students are required to visit any departmental store, fast food outlet or any industrial unit and perceive if applications like Fayol’s General Principles of Management or F.W. Taylor’s Scientific Management Techniques are applied or not. For clarification, have a look at the principles and techniques advocated by both the administrative gurus:

Also Read: Commerce Subjects in Class 12 [Download Updated PDF]

The students who opt for the third option in the business studies class 12 project will have to learn various aspects of the stock market, monitor the stock market trends and how calculate profit or loss in relation to stock. Through this topic, the students will be able to learn about the capital market and the sources of business finance along with a deep understanding of the concepts used in the stock exchange. Business Studies class 12 project will expect the students to work on the following parameters:

• Create a brief report on the history of stock exchanges in India.
• Prepare a hypothetical portfolio with a sum of INR 50,000 in any 5 top companies over a period of 20 working days.
• Identify the reasons for fluctuations in prices, for example, change of seasons, strikes and accidents, political environment, the spread of an epidemic, international events, etc.
• Find the value of the investments and update the portfolio accordingly through various graphical representations.

Also Read: Business Studies Class 11 Syllabus, Exam Pattern & More

Here are the official CBSE guidelines for the Class 12 Business Studies project:

• The entire project must be completed between 25 to 30 pages
• It is compulsory for class 12th students that the project must be handwritten 
• The project must be clubbed inside a neat and tidy transparent folder 
• Cover Page: Student information, School name and year
• Index (List of Contents)
• Acknowledgement and Preface
• Introduction
• Topic with a Unique Title/Heading
• List of activities and planning done to gather information about the project (If any)
• Observations from the places of visit
• Conclusions
• Photographs (if any)
• Teacher’s remarks
• Signature of the teachers

Related Reads

Ans: The official CBSE guidelines for the Class 12 Business Studies project are: 1. The entire project must be completed between 25 to 30 pages 2. It is compulsory for class 12th students that the project must be handwritten  3. The project must be clubbed inside a neat and tidy transparent folder  4. While crafting your project, you must follow this specified format: -Cover Page: Student information -School name and year -Index (List of Contents) -Acknowledgement and Preface -Introduction -Topic with a Unique Title/Heading -List of activities and planning done to gather information about the project (If any) -Observations from the places of visit -Conclusions -Photographs (if any) -Appendix -Teacher’s remarks -Signature of the teachers

Ans: The business studies project is an important part of the Class 12 business studies curriculum and is of a total of 20 marks.

Ans: There are a total of 12 chapters in Class 12 business studies.

Ans: To crack your business studies exam, you must practice sample papers and previous year exam papers of business studies as well as master the basic concepts of every chapter.

We hope that this blog covered every single aspect essential for you to know about the Business Studies class 12 project. Connect with us at Leverage Edu and we will help you choose the right course and university after 12th that goes well with your dream of becoming one of the future business leaders . Book your 30 minutes of free career counselling now! For more on NCERT study materials and school education , follow Leverage Edu now!!

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CBSE Class 12 Business Studies Project 2023-24

• CBSE Board , Class 12th
• Last Updated On April 2, 2024

This article is curated to provide complete information on the Class 12 Business Studies Project 2023-24 given by the CBSE Board. CBSE Guidelines for BST Project say, only one specific Report File is needed to be submitted during the practical’s. The Business studies practical will hold in the month of February 2024. Students are supposed to submit the physical Report File to the teachers in the practical’s. Business Studies Project of Class 12 helps students to get the practical knowledge of what the students have studied in the class theoretically.

The CBSE Class 12 Commerce Date Sheet 2023-24 is announced by the CBSE Board, and the practical to be held in the month of February. So, all the class 12 students are supposed to prepare their Business Studies Project Of Class 12 for the academic session 2023-24 in the month of January to avoid any last-minute hassle. Students can also go through the Previous year question paper for BST class 12 .

In this proper Class 12th Business Studies Project Guide 2023-24, students will find all the necessary details about the project file, along with the proper guidelines of the CBSE Board syncing with the new and reduced syllabus of class 12 Business Studies. CBSE Business Studies Project for Class 12 topics are provided below for reference.

Also Check: Accounts Project Class 11

Download CBSE Class 12 Business Studies Project Guideline PDF 

Let’s get started with the weightage of the 12th Class Business Studies Project 2023-24. Read more to get more details. 

SiteMap of the CBSE Class 12 Business Studies Project

Students can check out the above table showing the sitemap of the complete CBSE Class 12 Bst Project 2023-24. The whole project is 20 marks, where the project includes 1 Report File. CBSE Board has given important points to be covered in the project work. On these specifications of the assessments, teachers will allot marks to the students. If students have covered all the 4 points in their project work and performed well in the viva, then scoring full marks would be not so far.

What are the CBSE Class 12 Business Studies Project Topics 2023-24?

CBSE Board has assigned the 4 important Business Studies Class 12 Project Topics to the class 12th Commerce Students. Students need to choose any 1 out of 4 Topics. The topics are given below:

• Elements of Business Environment  (Book-I)
• Principles of Management (Book-I)
• Stock Exchange (Book-II)
• Marketing Management (Book-II)

These are the 4 important chapters of topics for the CBSE Class 12 Business Studies Project 2023-24. Students need to pick any topic and start preparing a very detailed project and gain as much information as they can. The VIVA test would be taken on the chosen topics, so it is advisable for the students to learn while preparing the project file.

Viva of Class 12th Business Studies Project 2023-24

The last test type for the CBSE curriculum is the Viva, also called an oral exam, and the school only schedules these exams in January.

The majority of Viva’s questions are project-related. The purpose of this Viva is to ensure that the students have gained deeper awareness and comprehension of the subject matter of their project.

Objectives of CBSE Class 12th Business Studies Project 2023-24

The class 12 business study project’s goal is to assist students in comprehending the business scenario and using the analysis tool related to the project’s subjects.

Additionally, it is meant to stimulate the ability needed to interpret business study data from business firms’ quarterly, half-yearly, or annual reports. The purpose of the class 12 business study project is also to analyze the data in accordance with the specified parameters.

How to Prepare the Class 12 Business Studies Project 2023-24?

Follow the below-mentioned CBSE guidelines before starting a project report:

Consult the relevant teacher for suggestions on alternative topics. Assignments can be completed individually or collaboratively, but each student needs to create a unique project file. When selecting a topic, bear the following in mind:

• Make sure the topic you select is exclusively from the Class 12 Business Study syllabus.
• Consult the relevant teacher about the issue before beginning to get any necessary recommendations.
• Remember to study the subject in advance of the viva.
• The project file should not be copied from another student. At least 40% of it should be unique from other students’ work.
• Don’t write lengthy narratives or paragraphs for an accounting project.
• To ensure that the job is executed easily, make sure you conduct in-depth research on the subject

Class 12 Business Studies Project On Elements of Business Environment

Students can take the help of their respective subject teachers while choosing any one of the following elements prescribed by the CBSE.

• The changes in transportation of fruits and vegetables such as cardboard crates being used in place of wooden crates, etc. Reasons for above changes.
• Milk being supplied in glass bottles, later in plastic bags and now in tetra-pack and through vending machines.
• Plastic furniture [doors and stools] gaining preference over wooden furniture.
• The origin of cardboard and the various stages of changes and growth.
• Brown paper bags packing to recycled paper bags to plastic bags and cloth bags.
• Re use of packaging [bottles, jars and tins] to attract customers for their products.
• The concept of pyramid packaging for milk.
• Cost being borne by the consumer/manufacturer.
• Packaging used as means of advertisements.
• Reasons of stopping the manufacturing of the above mentioned drinks in India THEN.
• The introduction of Thums up and Campa cola range.
• Re entry of Coke and introduction of Pepsi in the Indian market.
• Factors responsible for the change.
• Other linkages with the above.
• Leading brands and the company having the highest market share.
• Different local brands venturing in the Indian market.
• The rating of the above brands in the market.
• The survival and reasons of failure in competition with the international brands.
• Other observations made by the students
• Changing role of the women in the past 25 years relating to joint families, nuclear families, women as a bread earner of the family, changes in the requirement trend of mixers, washing machines, micro wave and standard of living.
• The changes in the pattern of import and export of different Products.
• The trend in the changing interest rates and their effect on savings.
• A study on child labour laws, its implementation and consequences.
• The state of ‘anti plastic campaign,’ the law, its effects and implementation.
• The laws of mining /setting up of industries, rules and regulations, licences required for running that business.
• Social factors affecting acceptance and rejection of an identified product. (Dish washer, Atta maker, etc)
• Washing machines, micro waves, mixers and grinder.
• Need for crèche, day care centre for young and old.
• Ready to eat food, eating food outside, and tiffin centres.
• Change in the man-machine ratio with technological advances resulting in change of cost structure.
• Effect of changes in technological environment on the behaviour of employee

 Principles Of Management Project for Class 12

For taking this topic, the students are required to visit any one of the following:

• A departmental store.
• An Industrial unit.
• A fast-food outlet.
• Any other organization approved by the teacher.

After visiting any one of the venues, students need to observe the application of the general principles of management advocated by Fayol.

What are Fayol’s principles?  

• Division of work.
• Unity of command.
• Unity of direction.
• Scalar chain
• Espirit de corps
• Fair remuneration to all.
• Subordination of individual interest to the general interest.
• Initiative.
• Centralization and decentralization.
• Stability of tenure.

OR Students of class 12 Commerce may enquire into the application of scientific management techniques advocated by F.W.  Taylor in the unit visited.

• Functional foremanship.
• Standardization and simplification of work.
• Method study.
• Motion Study.
• Time Study.
• Fatigue Study
• Differential piece-rate plan.

Stock Exchange Project for Class 12

The aim and provision of the Class 12 Business Studies Project On Stock Exchange are to teach commerce students the proper way of investing and analyzing the stock market which is the major factor responsible for the country’s economy. This project also focuses on important lessons about the economy, financial responsibility, and mathematical calculations based on research. This BST project 2023-24 enables commerce students to know about the stock market while investing some fake money (practically) in certain stocks. Students, thus research and buy and sell according to the market and self-need. This project topic will also provide some knowledge to the students about how the stock market is being monitored by the brokers and will teach students to calculate profit and loss in the stocks. The Class 12 BST stock exchange project work will enable the students to:

• understand the topics like sources of business finance and capital market
• understand the concepts used in a stock exchange
• inculcate the habit of watching business channels, reading business journals/newspapers, and seeking information from their elders.

Marketing Management Project of Class 12

Students can pick any product in the marketing management project of class 12. The only thing to remember while preparing the class 12th business studies project on marketing management is that the identified product should not be anything whose use or consumption is discouraged by the society or government such as pan masala, alcohol, tobacco, etc. marketing project topics for class 12 are given below so that students can pick one without being worried about the topics.

Identify or pick one product/service from the below list which you may like to manufacture/provide [pre-assumption].

• Air conditioners
• Baby diapers
• Bathing Soap
• Bathroom cleaner
• Breakfast cereal
• Cheese spreads
• Cosmetology product
• Fairness cream
• Fruit candy
• Infant dress
• Ladies footwear
• Learning Toys  40. Lipstick
• Microwave oven
• Moisturizer
• Music player
• Nail polish

Students can take any product/service they want, discussing with the teacher would help to make the appropriate Class 12 Business Studies Project on Marketing Management. 

Marketing Management Project Must Include

On the basis of the work done by the students the Class 12 Business Studies Project Marketing Management should include the  following:

• Type of product /service identified and the (consumer/industries) process involved therein.
• Brand name and the product.
• Range of the product.
• Identification mark or logo.
• Labelling and packaging.
• Price of the product and basis of price fixation.
• Selected channels of distribution and reasons thereof.
• Decisions related to transportation and warehousing. State reasons.
• Promotional techniques used and starting reasons for deciding the particular technique.
• Grading and standardization.

Presentation of Class 12 Business Studies Project

Project must have 25-30 pages.

CBSE Board says each class 12 project should at least have 25-30 pages. It is up to students to increase the number of pages to make it a detailed project. These pages include all the necessary formalities needed to be done at the starting and end of the project like the Student’s complete details, Acknowledgements, and preface, Introduction, Conclusion, Bibliography, etc.

The project should be Handwritten

CBSE accepts only handwritten projects on the boards. So, students prepare their report files with attractive handwriting. As presentation plays a very important role in scoring marks. If your hand-writing is good and the project file looks neat and clean, then even if you have some analytical mistake or less research, you would get the full marks.

Presented in Folder

Students should submit their project files in a neat folder. This is the proper way of submitting your board class 12 business studies project 2023-24. Teachers get more attracted by a neat and clean project which is presented nicely by students. If your cover is very sober yet classy, you can easily score the full marks.

Project Sheets Must be in Specified Sequence

The project report file of business studies should be drafted in the following sequence by covering every detail- The cover page should include the title of the Project, student information, school, and year. List of contents.

• Acknowledgements and preface (acknowledging the institution, the places visited, and the persons who have helped).
• Introduction.
• Topic with a suitable heading.
• Planning and activities are done during the project if any.
• Observations and findings of the visit.
• Conclusions (summarized suggestions or findings, the future scope of the study).   Photographs (if any).
• Appendix, bibliography for bst project is also very necessary for teachers to know where have they taken the data from.
• Teacher’s observation.
• Signatures of the teachers.

CBSE Guidelines for Business Studies Class 12 Project 2023-24

Students of class 12 Commerce Stream are supposed to pick one topic out of four and are required to prepare only ONE project report file from the selected topic. (Consist of one project file of 20 marks)

• Students can pick any ONE Unit out of the four with the help of teachers.
• The BST Project topic will be assigned to every student after the discussion with the respective subject faculty and later are supposed to be discussed at every stage of the submission.
• While preparing a CBSE Class 12 Business Studies Project 2023-24, teachers play the role of a facilitator who is there to supervise every student for completing the project report.
• Students can ask their teachers to provide relevant study materials or suggest websites, or even obtain permits for visiting certain restricted places.
• Do not fall prey to the readymade project reports, if caught by the teachers, they will be discarded at once.
• Students need to have complete research on the project topic and prepare it wisely. This will help in answering questions in the VIVA Exam.
• Students must take initiative to present their projects before the class.
• Students can make their teachers proud by showing their hard work and self-esteemed creativeness on the Business Studies Project File.

Class 12 Commerce Students can acknowledge this research-based CBSE Class 12 Business Studies Project 2023-24. In this project guide, students will find all the necessary details to be included in the project, including CBSE prescribed topics, guidelines, and submission date with other necessary details. Students can also refer to CBSE Class 12 Business Studies Guide 2023-24 for more information on Business Studies and get answers to their every query. Students can also join CBSE Class 12 Business Studies Free Online Classes offered by the top online portal, VidyaSetu. As per the Business studies, new curriculum students should also make sure to go to business studies case studies class 12 .

Frequently Asked Questions

Q1. What is the Marking Scheme of the Class 12 Business Studies Project? It consists of 20 Marks which includes ONE File + Viva Test.

Q2. Can I choose any Random Topic for preparing the Class 12 BST Project? No, students can’t choose any topic of their choice. CBSE has prescribed the following 4 topics from which ONE topic is supposed to be selected.

Q3. How many Pages of Report File should be a Class 12 Business Studies Project 2023-24? There should be a minimum of 25-30 Pages.

Q4. When to submit the Business Studies Report File? At the time of CBSE Class 12 Business Studies Practical Exams, students are supposed to carry their project file, from which the examiner will ask VIVA questions.

Q5. How to prepare for the Class 12 Business Studies Project?

For preparing the Business Studies project, students can refer to the CBSE Class 12 Business Studies Project Guide (2023-24) for all material required for the project guidelines. 

Q6. Can we get a Class 12 Business Studies Project Topic Idea from the NCERT Books?

The NCERT books are the best option for choosing the Business Studies Project Topic. However, students can get help from teachers and the internet for writing the project.

Q7. Is it compulsory to prepare for the CBSE Class 12 Business Studies Project?

It is compulsory for students to prepare for the CBSE Class 12 Business Studies Project as it contains a 20 marks project file.

Q8. How to prepare for Class 12 Business Studies Project Viva-Voice?

First and foremost, it is important for students to do a thorough research on their respective topics and write only the information relevant to their class 12 Business Studies syllabus. Examiners tend to ask the questions related to the topic.

Q9. What are the important questions for Business Studies VIVA?

Prepare the topic thoroughly that you have chosen as most of the questions are project or syllabus related only.

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SME definition

Small and medium-sized enterprises (SMEs) represent 99% of all businesses in the EU. The definition of an SME is important for access to finance and EU support programmes targeted specifically at these enterprises.

What is an SME?

Small and medium-sized enterprises (SMEs) are defined in the EU recommendation 2003/361 .

The main factors determining whether an enterprise is an SME are

• staff headcount
• either turnover or balance sheet total

These ceilings apply to the figures for individual firms only. A firm that is part of a larger group may need to include staff headcount/turnover/balance sheet data from that group too.

Further details include

• The revised user guide to the SME definition (2020) (2 MB, available in all EU languages)
• Declaring your enterprise to be an SME (the form is available in all languages as an annex in the revised user guide)
• The SME self-assessment tool which you can use to determine whether your organisation qualifies as a small and medium-sized enterprise

What help can SMEs get?

There are 2 broad types of potential benefit for an enterprise if it meets the criteria

• eligibility for support under many EU business-support programmes targeted specifically at SMEs: research funding, competitiveness and innovation funding and similar national support programmes that could otherwise be banned as unfair government support ('state aid' – see block exemption regulation )
• fewer requirements or reduced fees for EU administrative compliance

Monitoring of the implementation of the SME definition

The Commission monitors the implementation of the SME definition and reviews it in irregular intervals. Pursuant to the latest evaluation, the Commission concluded that there is no need for a revision.

On 25 October 2021, we informed stakeholders by holding a webinar with presentations on the SME evaluation's results and next steps.

Supporting documents

• Study to map, measure and portray the EU mid-cap landscape (2022)
• Staff working document on the evaluation of the SME definition  (2021)
• Executive summary on the evaluation of the SME definition  (2021)
• Q&A on the evaluation of the SME definition  (2021)
• Final report on evaluation of the SME definition  (2018) (10 MB)
• Final report on evaluation of the SME definition (2012)  (1.8 MB)
• Executive summary on evaluation of the SME definition (2012)  (345 kB)
• Implementing the SME definition (2009)  (50 kB)
• Implementing the SME definition (2006)  (40 kB)

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