PRODUCTION

5:05 AM Roma

There are many types of businesses. But one generally correlates it with the primary profit-generating activity of production.By production, we generally mean the act or process of making goods or services that has some economic value to the consumers or other producers. The production process is carried by employing various factors of production. Human labour and capital or machinery form the most basic of these factors of production.However, in order that the production process runs smoothly and efficiently, there is a need for planning, implementation, and control of industrial production processes. Production management techniques are used...


INVESTMENT

4:44 AM Roma

In the setting up of any firm or business, investment is one of the pre-requisites. In layman’s terms, investment is putting money into something with the hope of profit. More specifically, investment is the commitment of money or capital to the purchase of financial instruments or other assets so as to gain profitable returns in the form of interest or income.In the setting up of any firm or business, a certain minimum amount of capital (both monetary and physical) is required to initiate the process. Even after the business has been set up, investment is still required to negate the effects of depreciation and to add to the capital stock. In...


STRATEGIC SOURCING

6:02 AM Roma

Strategic sourcing is a process that determines the business' needs and plans for acquiring the necessary raw materials and services for the business. It continuously improves and re-evaluates the purchasing activities of a company. Strategic sourcing techniques are also applied to non traditional area such as services or capital.It can have a profound impact on a company’s a and can strongly influence the purchasing and procurement processes.The steps in a strategic sourcing process are:• Assessment of a company's current spend (what is bought where?)• Assessment of the supply market (who offers what?)• Total cost analysis (how much...


MARKETING

8:14 PM Roma

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BUSINESS

10:24 PM Roma

In simple terms, business implies any commercial activity engaged in as a means of livelihood or profit, or on entity which in such activities. In economic business is the social science of managing people to organize and maintain collective productivity towards accomplishing particular creative and productive goals, usually to generate revenue. The term " business " has at least three usage.It might be used to refer to a particular company or corporation.It might also be used in a generalized sense as in referring to a particular market sector, such as 'The computer business' or the 'garments business' .Further it might be used in a collective...


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