Manage Business
Promotion
COWE at April 20, 2011 | 4:47 am | 0 Comment
Promotion implies the process of informing and persuading the prospective customers about the products or services of the firm, so that they keep patronising the firm. It means to create and maintain the demand for the product of the enterprise. In other words, the function of promotion is establishing the contact with the members of society, showing them how the products more...
Client Relationship Management
COWE at April 20, 2011 | 5:03 am | 0 Comment
Client Relationship Management (CRM) means managing your client. It is a business strategy which is used to create and sustain long-term, profitable client relationships. It means understanding customers using quantitative and qualitative research, segmenting them and articulating positioning statements for each of the segments based on their expectations and contribution more...
Managing your Intellectual Proficiency
COWE at April 20, 2011 | 5:25 am | 0 Comment
In today's knowledge-driven economy, intellectual property (IP) has become one of the key considerations in all business decisions. The new products, brands and creative designs launched in the market are the result of human innovation and creativity. This innovative and creative capacity is protected under the intellectual property system. If not protected, it may be more...
Insurance
COWE at April 20, 2011 | 9:31 am | 0 Comment
Uncertainty, risk and insecurity are incidental to any form of business. This makes insurance indispensable for a business organisation. Insurance may be defined as a contract in writing under which one party agrees to indemnify the other party against a loss or damage suffered by it on account of an uncertain future, in return for a consideration called 'premium'. The more...
Marketing and Sales
COWE at April 20, 2011 | 9:47 am | 0 Comment
Marketing is the focal point of all business activities because production or purchase has no meaning unless a firm is able to market its goods and services. It is defined as the process of discovering the consumer wants and then translating them into products and services. It includes everything that a company does to get the customers buy its product. It is an more...
Managing your Finance
COWE at April 20, 2011 | 10:13 am | 0 Comment
Managing the finances of the firm in an efficient manner is the most important aspect of managing a business. It means controlling and managing the firm's financial resources. The process of managing finances involves cash flow management which is concerned with the inflow and outflow of money in and out of a business. For this a cash flow statement is prepared which more...
Regulatory Requirements
COWE at April 20, 2011 | 10:21 am | 0 Comment
An entrepreneur, while managing his business has to take into account the basic regulatory requirements for his organisation. These regulatory requirements ensure that the organisation is functioning as per the statutory framework of the country. The most important regulation is the Indian Contract Act,1872, which regulates all the transactions of a company. It lays down more...
Distribution
COWE at April 20, 2011 | 10:28 am | 0 Comment
Distribution of the products or services produced by a firm is an important part of managing a business. Distribution refers to the process by which products or services flow from the manufacturer or factory to reach its target consumers. The products can be distributed through direct channels of distribution in which the manufacturers deliver their products to the more...
Managing Human Resource
COWE at April 21, 2011 | 10:35 am | 0 Comment
Manpower management is an integral part of the process of the management of a business.It is a pervasive function and is performed by all managers at all levels in an organisation .Personnel managers or human resource managers interpret the progressive needs of the organisation and direct individual potential towards a common goal. Today human factor is considered to be more...
Taxes
COWE at April 21, 2011 | 10:57 am | 0 Comment
Taxes (or duties) are defined as the financial charges levied by the Government upon an individual or an organisation or property in return for the government services received by them. These taxes may be broadly classified into direct and indirect taxes. Direct taxes are those where the tax payer pays the taxes directly to the imposing authority like income tax and more...