BC is the committee formed to co-ordinate the entire budget programme of the organisation. It consists of head of each departments such as sales departments, purchase departments, HR department, finance department etc as the member of the committee and managing director as the chairman of the committee. Each head of the department will be having … Continue reading Budget Committee
Understanding Indian Economy The economy of India is currently the world’s fourth largest in terms of real GDP (purchasing power parity) after the USA, China and Japan and the second fastest growing major economy in the world after China. India’s annual growth rate is above 8% while that of China is about 10%. India is … Continue reading Salient Features of Indian Economy
Meaning of Business Environment The success of every business depends on adapting itself to the environment within which it functions. For example, when there is a change in the government polices, the business has to make the necessary changes to adapt itself to the new policies. Similarly, a change in the technology may render the … Continue reading Introduction to Business Environment
Product or Line Layout: If all the processing equipment and machines are arranged according to the sequence of operations of the product, the layout is called product type of layout. In this type of layout, only one product of one type of products is produced in an operating area. This product must be standardized and … Continue reading Product Layout, Process Layout and Fixed Layout
New product and service planning and development requires the organisation to follow a series of steps. Companies need to follow such steps before the ideas mature and result in the development and launch of new product or service. Although such steps vary from product to product and organisation to organisations. But osme of the commom … Continue reading Steps for New Product Development
Plant location or Facility Location Meaning– the establishment of an industry at a particular place. Or The selection of a place for locating a plant is one of the problems, perhaps the most important, which is faced by an entrepreneur while launching a new enterprise. It is of 2 types- 1. Localization /centralization-means concentration of similar … Continue reading Plant Location
Materials handling is the art and science involving the moving, packaging and storing of substances in any form. Material handling is the movement, protection, storage and control of materials and products throughout manufacturing, warehousing, distribution, consumption and disposal. Material handling is loading, moving and unloading of materials. Whether we produce steel, textiles, engineering goods, sugar or motor … Continue reading Material Handling
The circular flow of income and expenditure refers to the process whereby the national income and expenditure of an economy flow in a circular manner continuously through time. The various components of national income and expenditure such as saving, investment, taxation, government expenditure, exports, imports, etc. are shown on diagrams in the form of currents … Continue reading The Circular Flow of Income
1.Value Added Method: This method is used to measure national income in different phases of production in the circular flow. It shows the contribution (value added) of each producing unit in the production process. Every individual enterprise adds certain value to the products, which it purchases from some other firm as intermediate goods. When value … Continue reading Methods Of Measuring National Income
National income, broadly speaking is the money value of all the final outcomes of all economics activities of the people of the country. The term national income is used in variety of senses depending on (a) what is included and excluded from the national income(b)which method is used to measure the national income. Macroeconomic analyses … Continue reading National Income and Related concepts
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