PEDAGOGY OF COMMERCE

  Meaning of Business Finance Business finance is the cornerstone of every organization. It refers to the corpus of funds and credit employed in a business. Business finance is required for purchasing assets, goods, raw materials and for performing all other economic activities. Precisely, it is required for running all the business operations. To understand what business finance is, we must know that business finance includes activities concerning the acquisition and conservation of capital funds for meeting an organization’s financial needs and objectives. The importance of business finance is evident from the fact that business finance is required to undertake every business operation successfully. A business may require additional funds for anything ranging from buying plant or apparatus, raw materials or further development. Different types of business finance are: Fixed Capital Working Capital Diversification Technology upgrading Importance of Business Finance Here are some r...

  Consumer Protection Act The Consumer Protection Act, implemented in 1986, gives easy and fast compensation to consumer grievances. It safeguards and encourages consumers to speak against insufficiency and flaws in goods and services. If traders and manufacturers practice any illegal trade, this act protects their rights as a consumer. The primary motivation of this forum is to bestow aid to both the parties and eliminate lengthy lawsuits. This Protection Act covers all goods and services of all public, private, or cooperative sectors, except those exempted by the central government. The act provides a platform for a consumer where they can file their complaint, and the forum takes action against the concerned supplier and compensation is granted to the consumer for the hassle he/she has encountered. Consumer Rights and Responsibilities: The Rights of the Consumer Right to Safety-  Before buying, a consumer can insist on the quality and guarantee of the goods. They should ide...

  Private Enterprise Meaning In brief, a private enterprise is a firm conducted as a sole proprietorship, partnership, or corporation rather than being owned and controlled by the government. This business model is when private people or businesses form and manage enterprises themselves for many purposes, including creating a profit, manufacturing products or services, or pursuing entrepreneurship. In a private enterprise, the owner exercises authority over the business’s direction, expenditures, and its operations on the day-to-day.  Public Enterprise Meaning Simply stated, Public Enterprise is a business entity that is in government ownership, management, and control rather than private hands and organizations. The management of the activities and assets of an enterprise is in the hands of the Government if it is a Public Enterprise, as the Government acts as the owner thereof. These government-owned enterprises were set up for several purposes — delivering essential service...

  Emerging Modes of Business  Meaning : In this age of internet, the world commerce has gradually started linking with it. This has brought a new concept of commerce called e-commerce/e-business. Now we are capable of reaching the users of Internet all over the world simply by opening a shop on the Internet. The Internet users can order for the goods, receive their delivery and make their payment while sitting at their home on the Internet. Scope of e-Business It can be understood by the view point of the parties involved and making transactions: 1.  B2B Commerce : It is that business activity in which two firms or two business units make electronic transaction. For example- one can be producer firm and other a supplier firm. 2.  B2C Commerce  – Business to customer. In this one party is a firm and other party is a customer. On one hand a customer can seek information through Internet about products, place orders, get some items and make payments and o...

   Meaning  Principle  of Management The organizational principle is the great and overall direction for determining the performance. For instance, while ascertaining about the promotion of an employee, a manager may contemplate seniority, whereas the other may follow the principle of quality. One may define principles of management from those of pure science. Management principles are not as firm as postulates of pure science. They deal with human traits and, hence, are to be employed creatively given the requirements of the position. Human behavior is never inactive and so also technology, which business. Therefore all the principles have to keep step with these changes. For instance, In the absenteeism of Information and Communications Technology (ICT), a manager could manage only a small workforce that too within a restricted geographical area. The approach of ICT has developed the ability of the managers to control over large business domains scattered across th...