Commerce belongs to the branch of business. It is related to the process of trade and any kind of activity happening between two people and parties with the exchange of money.The main role of commerce in business is distribution. Whatever the products are produced. If there is no availability of resources and raw material on time then there is no product ready for sale.Commerce help in the distribution of all required resources by efficiently calculate and analyze the situation so that … [Read more...] about Importance of Commerce
Total quality management relates to the organization's broad efforts to set such an atmosphere where employees can continuously increase their abilities and quality of work. To make an organization able to produce desire products for consumers on time.How to implement Total Quality ManagementThe most important purpose to implement total quality management in an organization is to produce desire products with good quality on time. There are the following steps requires to implement total … [Read more...] about Steps in Implementing Total Quality Management
Planning is the process of thinking about the activities and tasks needed to accomplish specific goals. Any organization that plans for the future are more likely to succeed in today’s growing digital world than those who fail to plan before time.Proper planning help organization to increase their market performance, make them aware about market changes, encourage and motivate employees, take precautionary measure to reduce risk, and also create a level of unity and coordination between … [Read more...] about Importance of Planning
Trade involves the transfer of goods and services from one person to another person with the exchange of money. Economics considers trade as a separate market in the corporate world. In the early years, about the mid-80s trade is the process of direct interchange of products and services from producer to consumer.But now in the modern and global era, this process is expanded and involved a number of peoples in it. Initially, products and services are first delivered to the wholesaler in huge … [Read more...] about What are trade meaning, nature, and different types of trade?
A merger is an agreement held between two different companies to become one entity. It's an agreement to share their total assets, profit, loss, and market share equally with each other.There are several types of partnerships or mergers like a horizontal merger, vertical merger, market extension merger, product extension merger, and conglomerate mergers.Also, there are many reasons and benefits of why companies choose any of the mergers and are ready to divide their whole authorities … [Read more...] about Importance of Merger
Product development is a process that starts from an idea and ends at an evaluation of the market performance of your idea. This idea can be any tangible item called product. Service development is similar to product development but it’s intangible.Eight steps involved in the process of product development#1 Generation of IdeaIdea generation is the first step in the development of the product. In this, we do the following thingsDo market research and analyze the need of … [Read more...] about Steps of Product Development
Organizing is the process of arranging tasks systematically according to their requirements. It helps in the arrangement and management of any activity with the help of people.Organizing by HeimonnAccording to Theo heimonn: Organizing is the process of arranging several activities according to their purpose and requirement in specific sequential order. So that; It is easy for workers to set their priorities that which task they have to do first and which in second.According to … [Read more...] about What is Organizing?
An interview is a process of judging the interest and ability of a person through rational questions. It helps in deciding either applicant is suitable and willing for the required seat or not.Type of interviewsPersonal interviewTelephonic interviewThe panel interviewFormal and informal interviewMail interviewAn interview is the most important step in selecting the employee. It relates to the benefit of both the interviewer and the job seeker. For the interviewer, they will find a … [Read more...] about Importance of Interview for Job Seekers and Employers
Different individuals define quality in different ways depending upon their understanding and interest.According to the experts, quality can define as:Fitness for use or purposeTo do right things at first timeTo do right things at right timeHave an understanding of customer needGive product that fulfills customer demands and satisfactionNo deficiency and defectsMeet the standardGive value and worthiness to moneyWhat is Joseph Concept of Quality?There are many definitions … [Read more...] about What is Product Quality
To understand what is product development. First, understand what is mean by product and developmentProduct: Anything which is made in the result of a series of actions done by labor and many automatic machines with means of sale is called product.Development: Development is the process of continuous progress in anything with the effort of someone. It is the transition of earlier policy having a traditional approach to advanced policy with a modern approach.Product … [Read more...] about What is Product development
In business management, a new term has been introduced named span of control. Most commonly it is used in human resource management. It is the process of supervising a specific number of employees under one manager's supervision. In the term for management, it's most effectively-known as a supervisor and subordinate relationship.In the organization, there are different divisions like HR, Finance, IT, Marketing, and many more. And every division has a specific number of employees in it. It is … [Read more...] about Importance of Span of Control