Everything you need to know about the classification of business activities. The business activities are broadly classified as – Industry and Commerce. Industry deals with production and processing of materials into finished products. Commerce generally includes all activities which facilitate the exchange of goods and services. All commercial and business units come under commerce and all enterprises engaged in production [...]
Everything you need to know about public relations.Public Relation (PR) is another tool of promotional mix designed to improve, maintain or project a company or product image. Public Relations is referred to everything that is conducted to improve mutual understanding between an organization and target groups and all those with whom it comes into contact both within and outside the [...]
A supply chain comprises of four or more companies including a wholesale company, an immediate supplier, marking firm, distribution firm and the transport companies working independently. Each such firm has its unique set of objectives conflicting each other. For example, maximum sales turnover and high customer service may conflict with distribution and transport firms. The result of these conflicting objectives [...]
'A warehousing is an establishment for the storage and accumulation of goods'. Storage of goods takes place through the network of warehouses specially constructed for the purpose.
Sociologists and psychologists advocate that economic factors may be necessary conditions, but they are not sufficient conditions for the appearance of entrepreneurship. They view that the influence of economic factors on entrepreneurial emergence largely depends upon the existence of non-economic factors i.e., social and psychological factors in the society.
From a strictly economic viewpoint, it can be said that the same factors which promote economic development account for the emergence and development of entrepreneurship also.
The relationship between the micro and macro enterprises can be seen in various respects. Yet, the following are the important ones:
Emphasizing the very rational of small-scale industry in the Indian economy, the Industrial Policy Resolution (IPR), 1956 stated:
Role of Entrepreneurial Firm in Connecting Entrepreneurship and Economic Development!
Let us look at the usual or more common reasons people have for starting their own business!