What are various ways in which the objective of consumer protection can be achieved?
There are various ways, by which the objectives of consumer protection can be achieved:
1. Self-regulation by business: Business firms realize that it is in their long- term interest to serve the consumers well. Socially responsible firms follow ethical standards and practices in dealing with their customers. Many firms have set-up their customer service and grievance cells to redress the problems and grievances of their consumers.
2. Business Associations: The Associations of trade, commerce and business like Federation of Indian Chambers of Commerce of India (FICCI) and Confederation of Indian Industries (CII) have laid down certain code of conduct, which lay down for their members the guidelines in their dealings with the customers.
3. Consumer Awareness: A consumer, who is well informed about his rights and the reliefs available to him, would be in a position to raise his voice against unfair trade practices or unscrupulous exploitation. This would enable him to safeguard his interests.
4. Consumer Organisations: They play an important role in educating consumers about their rights and providing protection to them. They can also force business firms to avoid malpractices and exploitation of consumers.
5. Government: The government can protect the interests of the consumers by enacting various legislations. The legal framework in India encompasses various legislations, which provide protection to consumers. The most important of these regulations is the Consumer Protection Act, 1986, which provides three-tier machinery for redressal of consumer grievances.
Mrs. Mathur sent a jacket to a laundry shop in January 2018. The jacket was purchased at a price of ₹4,500. She had previously sent the jacket for dry cleaning with Shine Dry Cleaners and the jacket was cleaned well. However, she noticed that her jacket had white discoloration marks when she collected the jacket this time. On informing the dry cleaner, Mrs. Mathur received a letter confirming that discolouration indeed appeared after the jacket was dry cleaned. She contacted the dry cleaner multiple times and requested for compensation for discoloured jacket but to no avail.
Upon Consumer court’s intervention, Shine Dry Cleaners agreed to compensate ₹2,500 to Mrs. Mathur for the discoloured jacket.
a. Which right was exercised by Mrs. Mathur at the first instance.
b. Name and explain the right which helped Mrs. Mathur to avail the compensation.
c. State which consumer responsibility has been fulfilled by Mrs. Mathur in the above case.
d. State any other two responsibilities to be assumed by the consumers.
Under which consumer right does a business firm set up consumer grievance cell?
Explain the redressal mechanism available to consumers under the Consumer Protection Act, 1986.
FSSAI (Food Safety and Standards Authority of India) has made a proposal for hotels and other food outlets to declare the kind of oil/fat used in cooking each of the food items on their menus. Name and explain the Consumer Right being reinforced by this proposal.
Name the component of product mix that helps the consumer to exercise the right to information.
Which quality certification mark is used for agricultural products?
Who can file a complaint in a consumer court?
State any two relief available to consumers under CPA.
Enumerate the various Acts passed by the Government of India which help in protection of consumers’ interests.
Explain the importance of consumer protection from the point of view of a business.
How does planning provide direction?
What is meant by staffing?
Identify the network of social relationships which arises spontaneously due to interaction at work.
What is informal communication?
State the meaning of controlling.
What is meant by capital structure?v
What is meant by management?
What is a Treasury Bill?
State any two advantages of branding to marketers of goods and services?
What makes principles of management flexible?
Can planning work in a changing environment? Give a reason to justify your answer.
What is a divisional structure? Discuss its advantages and limitations.
What are industrial products? How are they different from consumer products? Explain.
A company, which manufactures a popular brand of toys, has been enjoying good market reputation. It has a functional organisational structure with separate departments for Production, Marketing, Finance, Human Resources and Research and Development. Lately to use its brand name and also to cash on to new business opportunities it is thinking to diversify into manufacture of new range of electronic toys for which a new market is emerging. Which organisation structure should be adopted in this situation? Give concrete reasons with regard to benefits the company will derive from the steps it should take.
What is meant by staffing?
‘An effort to control everything may end up in controlling nothing.’ Explain.
Explain the relationship between planning and controlling with examples.
‘Bhasin’ limited was engaged in the business of food processing and selling its products under a popular brand. Lately the business was expanding due to good quality and reasonable prices. Also with more people working the market for processed food was increasing. New players were also coming to cash in on the new trend. In order to keep its market share in the short run the company directed its existing workforce to work overtime. But this resulted in many problems. Due to increased pressure of work the efficiency of the workers declined. Sometimes the subordinates had to work for more than one superior resulting in declining efficiency. The divisions that were previously working on one product were also made to work on two or more products. This resulted in a lot of overlapping and wastage. The workers were becoming indisciplined. The spirit of teamwork, which had characterized the company, previously was beginning to wane. Workers were feeling cheated and initiative was declining. The quality of the products was beginning to decline and market share was on the verge of decrease. Actually the company had implemented changes without creating the required infrastructure.
a. Identify the Principles of Management (out of 14 given by Henry Fayol) that were being violated by the company.
b. Explain these principles in brief.
c. What steps should the company management take in relation to the above principles to restore the company to its past glory?
Explain the recent Capital Market reforms in India.
Define scientific management. State any three of its principles.