Business Organization and Management Assignment Answer: आजके इस आर्टिकल में हम जानने वाले है Sol DU के बिज़नेस आर्गेनाइजेशन एंड मैनेजमेंट (Business Organisation and Management) के पहले सवाल के जवाब के बारे में, काफी बच्चे अभी भी लगे हुए है Sol DU के असाइनमेंट डाउनलोड करने में, लेकिन सर्वर की दिक्कत की वजह से नहीं हो पा रहा है इस आर्टिकल में आपको मै आपको SOL DU के बिज़नेस आर्गेनाइजेशन एंड मैनेजमेंट (Business Organisation and Management) के पहले सवाल का जवाब बताने वाला हु, Du Sol Business Organization and Management Assignment Answer
(A) Explain the basic consideration in setting up a business enterprise.
The basic consideration in setting up a business enterprise is:
A Business Idea: Almost every individual dreams about starting his own business. Yet only 4% of the newly started businesses manage to reach the 10 year mark.
In fact over 50% of the small businesses don’t even make it to the fifth year. Most people have no idea about the various things to consider when starting a new business.
A Business Idea
Every business starts with an idea – a super duper idea that actually works. If you want your business to stand out, you will need to offer something that no one else has offered. You may have a great business idea; but unless it solves someone’s problem it is not going to work. So start by listening to frustrations – both of yours as well as others (your family members, your neighbors, your friends, and your associates).
Knowledge or Expertise
Once you know what business you want to start, you will have to start gaining the required knowledge and expertise to start that business.
This might take a lot of research and planning; but at the end all these efforts will ensure that you have everything in place to get your business idea off the ground.
Estimating your start-up costs is one of the very important things to consider when starting a new business. You will have to assess the total cost that is required to set up and run your business successfully. Once your business is set up, you will have to think about the working capital needed to run your business.
Market or Demand
Start by answering the question, who are your customers. If you are selling your product or service locally, you may have to assess the demand for it. In case you are taking up on an international level, you may have to understand the rules and regulations of dealing internationally.
Capital and Finance
No business in this world can run without money. Depending on the type of business you are starting and the initial costs that you will have to pay up for, you will know what kind of capital you would need to start your business.
Gaining a market share should be on top of your mind if you are about to start a business. If there is a huge demand for your product, this shouldn’t be too difficult. If not you may have to strengthen the position of your business to gain an entry into the competitive market.
One of the most important things needed to start a business is a good location. If yours is a retail business you will have to look for a well-populated area that is easily accessible.
Your staff members are the ones that can make or break your business.
Without efficient manpower no business can ever succeed. That said an efficient staffing strategy needs to be in place if you want to reduce your staff replacement expenses.
Technology is one thing you can never compromise on when it comes to starting a new business in today’s world.
(B) Explain the concept of service. Do you think that the importance of service sector in our economy is on the rise? Give reasons for your answers.
Services are deeds, processes, and performances. But, the increasing interest in the services sector has been accompanied by considerable disagreement and debate as to what constitutes a service and whether service marketing is a distinctive subject area. In order to develop clarity on service as a concept, it is desirable to look at the way various researchers and scholars have defined it over the years.
Services have a number of unique characteristics:
- No Transfer of Ownership etc.
ROLE OF SERVICES IN ECONOMY
There is a growing market for services and increasing dominance of services in economies worldwide. Services are a dominant force in countries around the world as can be seen in the global feature.
आशा है कि आप सभी असाइनमेंट अच्छे तरीके से बना रहे है सोशल मीडिया पर थोड़ा प्यार देकर हमारी मदद करे
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Today service industries are the source of economic leadership. Many developed countries are now termed as service economy.
Business Organization and Management Assignment Answer
Service: an activity or series of activities rather than things which has some element of intangibility associated with it, which involves some interaction between the customer and the service provider, and does not result in a transfer of ownership.
Intangibility: As services are performances or actions rather than objects, they cannot be seen, felt, tasted, or touched in the same manner that we can sense tangible goods.
Inseparability: A service cannot be separated from the person or firm providing it.
Heterogeneity: Since most of the services are being rendered by human beings, their performances can not be mechanized and as a result no two performances of even a single service provider are identical.
Perishability: Services if not consumed simply perish away.
REASONS FOR GROWTH OF SERVICES
Manufacturing industries grew because they produced tangible goods which satisfied man’s physiological needs of food, shelter and clothing. As the basic need was fulfilled there was demand for improved satisfaction, and this led to a proliferation of variations of the same product and a number of companies involved in its manufacture.
The growth of service industries can be traced to the economic development of society and the sociocultural changes that have accompanied it. Changing environmental forces brought out the various types of services in forefront of the economy.
(C) Describe various elements of contemporary business environment.
Various elements of contemporary business environment are:
Factors of Internal Environment: Internal environment includes internal factors of the business. It includes plans and policies, human resource, financial resource, corporate image, plant and machinery, labor-management relationship, promoter’s vision etc.
Plans & Policies
The plans and policies of the firm should be properly framed taking into consideration the objectives and resources of the firm.
The survival and success of the firm largely depends on the quality of human resources.
Capital is the lifeblood of every business. Finance relates to money. A firm needs adequate funds to meet its working capital and fixed capital requirements.
The environment, which lies outside the organization, is known as external environment.
Micro environment is also known as operating environment. It consists’ of company’s immediate environment that affect its performance
Business Organization and Management Assignment Answer
Consumer is the king of the market. They are the centers of the business. They are one of the most important factors in the external environment.
The company has to identify its competitor’s activities. Information must be collected about competitors in respect of their prices, products, and promotion and distribution strategies.
Suppliers supply raw material, machines, equipment’s and other supplies. The company has to keep a watch over prices and quality of materials and machines supplied etc.
(D) What is E-Commerce? Discuss the benefits and limitations of E-commerce. How can the safety of E-commerce transactions be ensured? Describe.
Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet.
Benefits and limitations of E-commerce:-
- The new markets could be accessed through the online and extending the service offerings to customers globally.
- Internets shrink the globe and broaden current geographical parameters to operate globally
- Marketing and promotional campaigns can be done globally at the reduced cost
- Retaining the customer and the customer services could be improved drastically.
- Strengthen relationships with customers and suppliers?
- Streamline business processes and administrative functions
- No added sales staff
- There is a lack of system security, reliability, standards, and some communication protocols.
- Insufficient telecommunication bandwidth.
- The software development tools are still evolving and changing rapidly.
- It is difficult to integrate the Internet and EC software with some existing applications and databases.
- Vendors may need special Web servers and other infrastructures, in addition to the network servers.
- Some EC software might not fit some hardware, or may be incompatible with some operating systems or other components.
E-commerce transactions ensured:-
Major security measures are following:-
Encryption − It is a very effective and practical way to safeguard the data being transmitted over the network. Sender of the information encrypts the data using a secret code and only the specified receiver can descrypt the data using the same or a different secret code.
Digital Signature − Digital signature ensures the authenticity of the information. A digital signature is an e-signature authenticated through encryption and password.
Security Certificates − Security certificate is a unique digital id used to verify the identity of an individual website or user.