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How to Start a Business? Steps to Set Up a New Business

2012-05-03T18:07:00.000+05:30

How to Start a Business? Starting a business means setting up a new business enterprise. This initiation is also known as the promotion of business.Image credits © Ashley Renee.Promotion of business is done by a Promoter or an Entrepreneur.The Promoter has to take some steps to start a new business enterprise. Promotion of business is not an easy job. One mistake will cause many difficulties for

What is Amalgamation? Definition, Meaning and Example

2012-04-23T21:18:00.000+05:30

Definition of Amalgamation In general, the definition of amalgamation can be stated as follows."Amalgamation is a union of two or more companies, made with an intention to form a new company."In terms of finance, the definition of amalgamation can be given as under."Amalgamation is an agreement (deal) between two or more companies to consolidate (strengthen) their business activities by

What is Merger? Definition, Meaning and Example of Merger

2012-04-23T05:30:00.001+05:30

Definition of Merger The definition of merger in general and in finance can be stated as follows:In General,"Merger is an absorption of one or more companies by a single existing company."In Finance,"Merger is an act or process of purchasing equity shares (ownership shares) of one or more companies by a single existing company."Image credits © Arrow International. Meaning of Merger Before we

How to Implement Total Quality Management TQM? 6 Cs of TQM

2012-04-19T23:59:00.001+05:30

How to Implement Total Quality Management TQM? The most important purpose for the implementation of a Total Quality Management TQM process is to get the assigned task completed at the right time and with quality improvement.The Six Cs for successful implementation of a Total Quality Management (TQM) process are depicted as follows:The Six Cs required for proper implementation of a TQM are given

What are Functions of Development Banks?

2012-04-09T18:37:00.001+05:30

Functions of Development Banks The role or functions of development banks in India are depicted below.The nine important functions of development banks in India are as follows:To promote and develop small-scale industries (SSI) in India. To finance the development of the housing sector in India. To facilitate the development of large-scale industries (LSI) in India. To help the development of

Meaning and Definition of Development Banks in India

2012-04-09T02:30:00.002+05:30

Meaning of Development Banks Development banks are specialized financial institutions. They provide medium and long-term finance to the industrial and agricultural sector. They provide finance to both private and public sector. Development banks are multipurpose financial institutions. They do term lending, investment in securities and other activities. They even promote saving and investment

Non-Banking Activities Services Offered by Banks

2012-04-08T16:25:00.000+05:30

Non-Banking Activities All banks perform non-banking activities along with their traditional functions.A bank cannot survive without performing the following non-banking activities:Banks help their customers to make utility payments with ease. They perform merchant banking for their customers. They provide factoring services to their clients. They manage mutual funds and minimize investment

Changing Role of Banks in India Since Economic Reforms of 1991

2012-04-07T05:32:00.001+05:30

Changing Role of Banks in India The role of banks in India has changed a lot since economic reforms of 1991. These changes came due to LPG, i.e. liberalization, privatization and globalization policy being followed by GOI. Since then most traditional and outdated concepts, practices, procedures and methods of banking have changed significantly. Today, banks in India have become more

Banker-Customer Relationship Explained in Detail

2012-04-06T21:17:00.000+05:30

Banker-Customer Relationship The relationship between banker and customer is mainly that of a debtor and creditor. However, they also share other relationships.Some of the important relationships they share are depicted below.The banker-customer relationship is that of a:Debtor and Creditor, Pledger and Pledgee, Licensor and Licensee, Bailor and Bailee, Hypothecator and Hypothecatee, Trustee and

What are the Important Features of an Asset?

2012-04-03T18:05:00.001+05:30

Important Features of an Asset The important features of an asset are depicted in the following image.The six important features of an asset are briefly listed as follows:Asset has a price or value in the market. It must generate some revenue. It has maintenance or repair cost. It undergoes depreciation over a period of time. It has an estimated useful life span. It also has a scrap value. Now

What are Challenges Before Indian Entrepreneurs?

2012-04-02T21:07:00.000+05:30

Challenges Before Indian Entrepreneurs The challenges which Indian entrepreneurs have to face are depicted below.The Indian entrepreneurs have to face following challenges:To understand, tackle and survive the era of globalization. To take optimum advantage of business opportunities arose due to liberalization of Indian economy since 1991. To replace outdated technology with improved modern

What is Asset? Meaning Definition Examples of Assets

2012-03-14T13:52:00.001+05:30

What is Asset? Meaning Asset means a financial or an economic resource.Asset includes all those things (either tangible or intangible ones) which are capable of being owned or leased out (rented) to generate a value (price) or returns in present and in the future.Image credits © LancerE. Definition of Asset The definition of the term asset can be stated as follows,"An asset is a financial or

Types of Continuous Production System - Mass and Process

2012-02-25T00:22:00.000+05:30

Types of continuous production system The types of a continuous production system are depicted below.The types of a continuous production system include:Mass production flows, and Process production flows. Discussed below are each type of continuous production system. 1. Mass production flows Here, company produces different types of products on a large-scale and stock them in warehouses until

Types of Intermittent Production System - Project Jobbing Batch

2012-02-24T18:11:00.001+05:30

Types of intermittent production system The types of an intermittent production system are depicted below.The types of an intermittent production system include:Project production flows, Jobbing production flows, and Batch production flows. Now let's discuss each type of intermittent production system. 1. Project production flows Here, in project production flows, company accepts a single,

What is Cash? Meaning Definition Function of Cash

2012-02-23T00:48:00.001+05:30

What is Cash? Meaning Cash may be in any form of currency, like banknotes and coins, which have a legal acceptance and recognition in the market.The acceptance of cash by its user indicates that it has a trading value when tendered for purchase of goods and services.Image credits © Canadian Wendy 24. Definition of Cash The definition of the term cash can be stated as follows,"Cash is money in

Types of Production System - Intermittent and Continuous

2012-02-21T19:10:00.000+05:30

Types of production system The types of production system are depicted in the following image.Image credits © Moon Rodriguez.The types of production system are grouped under two categories viz.,Intermittent production system, and Continuous production system. Now let's discuss in detail each of the above-mentioned categories. Intermittent production system Intermittent means something that

Importance of Planning - Why Planning is Important?

2012-02-19T20:48:00.001+05:30

Importance of Planning The need and importance of planning is depicted in the following image.The main advantages or importance of planning is listed as follows:Planning increases the efficiency of an organization. It reduces the risks involved in modern business activities. It facilitates proper coordination within an organization. It aids in organising all available resources. It gives right

Disadvantages of Flexible Manufacturing System FMS

2012-02-18T05:37:00.001+05:30

Disadvantages of Flexible Manufacturing System FMS The disadvantages of a flexible manufacturing system FMS is depicted below.Limitations or disadvantages of flexible manufacturing system are as follows:FMS is a complex system. Requires highly skilled technicians. Needs high level of planning. Demands high initial investment. Let's discuss each disadvantage of Flexible Manufacturing System (FMS)

What are Advantages of Flexible Manufacturing System FMS?

2012-02-18T04:35:00.001+05:30

What are Advantages of Flexible Manufacturing System FMS? The advantages of a flexible manufacturing system FMS is depicted below.The benefits or advantages of flexible manufacturing system are listed below:Large variety of same products. Profitable investment. Requires limited inventory. Low labour cost. Flexible system. Speedy production. Let's quickly discuss each advantage of Flexible

Flexible Manufacturing System FMS - Definition Meaning Suitable

2012-02-18T03:15:00.001+05:30

Definition of Flexible Manufacturing System FMS The definition of a flexible manufacturing system (FMS) is quoted below."Flexible Manufacturing System (FMS) is a computer-controlled process technology suitable for producing a moderate variety of products in moderate, flexible volumes."Image credits © Reinold Metaalbewerking.This definition will get clear after reading following points on meaning

What are Advantages of Departmentalization?

2012-02-17T18:57:00.001+05:30

What are Advantages of Departmentalization? The advantages of departmentalization are depicted in the image below.The main benefits or advantages of departmentalization are listed as follows:Specialization. Growth and expansion. Fixing responsibility. Better customer service. Performance appraisal. Management development. Optimum utilization of resources Facilitates better control. Now let's

What is Production System? Definition Meaning Examples

2012-02-17T16:44:00.001+05:30

What is Production System? Definition Meaning This article briefly explains the introductory concept of a production system.Image Credits © NathanThe meaning, definition and other basic points covered in this article on a production system are listed as follows:Meaning of production. Meaning of system. Definition of production system. Meaning of production system. Components. Examples.

What are Disadvantages of Mutual Funds?

2012-02-15T14:59:00.001+05:30

What are Disadvantages of Mutual Funds? The seven prominent disadvantages of mutual funds are depicted below.Image credits © Moon Rodriguez.The main limitations or disadvantages of mutual funds are listed as follows:Mutual funds are subject to market risk. No guarantee of returns. Diversification of portfolio doesn’t maximize returns. Selecting right financial securities is not easy. Cost

Advantages of Mutual Funds Investments

2012-02-15T01:00:00.001+05:30

Advantages of Mutual Funds Investments Ten merits or advantages of mutual funds investments are depicted below.Image credits © Moon Rodriguez.The benefits or advantages of mutual funds are listed and linked as follows:Simple to invest. Professionally managed. Offers diversification. Conveniently administered. Gives higher returns. Low cost management. Offers liquidity. Provides transparency.

Stages Process Steps of New Product Development

2012-02-14T04:21:00.001+05:30

Stages Process Steps of New Product Development The stages or process or steps involved in a new-product development are depicted in the image given below. Click on it to get a zoomed preview.Image credits © Moon Rodriguez.The eight stages or process or steps involved in the development of a new product are listed and also hyper-linked as follows:Idea generation. Idea screening. Concept testing.