Drugs store and business management
Business:-
Business is the activity where extant of goods or services
are involved with the objective or earning.
The term "business" also refers to the organized
efforts and activities of individuals to produce and sell goods and services
for profit.
Or
A business is defined as an organization or enterprising
entity engaged in commercial, industrial, or professional activities.
Business activity are mainly divided into two types.
A) Industry
B) Commerce
A) Industry:-
Industry is concept which the people and activities involved in producing
something, providing a service, etc.
1. Consumer goods
2. Capital goods
3. Intermediate goods
1. Consumer goods:-
A consumer goods is a commodity that is
used by the consumer to satisfy current wants or needs, unlike intermediate
goods which is utilized to produce another goods.
Ex- Car, Bike, Microwave ovens.
2. Capital goods:-
Capital goods also known as row material. It uses in the production of other
goods are called Capital goods. Ex- Surgical instruments, Ship, motor, engine.
3. Intermediate
goods:- End product of one industry which are used as intermediate in the
other industry so as to produce others product are called as intermediate
Or
Intermediate goods, producer goods or semi-finished products
are goods, such as partly finished goods, used as inputs in the production of
other goods including final goods. A firm may make and then use intermediate
goods, or make and then sell, or buy then use them.
Ex: - Wire and cables, remotes, etc.
Commerce:-
They link between the producer and the costomers.
Commerce is that aspect of business activity which is cansult by the distribution of goods and services produced by the industry the production of goods and services for the satisfaction of human wands the main objective of an industry.
Function and
Subdivision of commerce
1. Trade
2. Aids to trade / Branches of commerce.
A. Transport
B. Banking
C. Insurance
D. Warehousing
E. Packing
F. Advertising
& Publicity
1. Trade
Trade is known as buying, salling and exchange of goods
trade can be considered the nucleus of all commercial activities.
Classification of
Trade:-
1. Internal trade
2. International
trade.
1. Internal trade:-
a. Local
b. State trade
c. Interstate trade
2. International
trade (Foreign)
a. Import trade
b. Export trade
c. Enter port trade
Aids to trade /
Branches of commerce:-
A) Transport: -
Transport is the pay factor in making goods available to consumer at any place.
i. Drugs and formulation stability is extremely important
while taking drugs from one place to another place.
B) Banking: - A
bank is a financial institution that accepts deposits from the public and
creates a demand deposit while simultaneously making loans.
C) Insurance:-
Business is a risk & insurance take's care of the risk involved there are
many different type of insurance.
a) Life Insurance
b) Fire Insurance
c) Marine Insurance
d) General Insurance
D) Warehousing
(Storage) :- It is a place where store goods that will be sold or
distributed later.
E) Packaging: -
Packaging is the science, art and technology of enclosing or protecting
products for distribution, storage, sale, and use.
Packaging also refers to the process of designing,
evaluating, and producing packages.
F) Advertising and
publicity: - Advertising and publicity gives information to the costumes
regarding to the product through telivision, Newspaper, magazine, and posters
on the walls.
Now day available different digital platform to publish your
ads. Like YouTube, Facebook, and other social media platforms.
Introduction to
elements for economics and management.
Economics: - It
is a social science which deals with the economic problems which to give
individual and ultimately the country.
It's proper used and allocation for satisfied various human
bonds so as to maintain growth and stability.
Three main branch of
economics
a) Descriptive economics.
b) Economics theory
c) Applied economics
a) Descriptive
economics:- The term explain the fact about the economics such as India
agriculture industry foreign trade.
b) Economics theory:- This deals with the functioning of an
economic system.
Ex:- How to collect production cost, marketing cost and how
much to change for services.
c) Applied
economics:- In this branch an economics analysis is made to study and
understand the signification of economic events.
The elements of economics following two system.
i. Economic Activities
ii. Economic system
Business is an activity by which one can earn money and
acquire wealth through production and exchange of goods.
A business organization is a company or enterprises which
buys and sells goods and is managed by one person of group of persons.
Type of business
organization
A. Individual
concerns
a. Sole proprietorship Sole Trade
b. Partnership
c. Joint Hindu family business
d. Joint venture
e. Joint stock company
f. Co-operative society
B. Government
Concerns
a) Departmental Undertaking
b) Public Corporation
c) Government Company
d) Board Organization
Objectives of
business organization
The following are important objectives of business
organization.
a) Profit motive: -
The main objective of business organization is to earn profit to run the
business effectively and to expand the development of the business.
b) Service motive: -
Service to the public is another objective of the business organization.
c) To get economic
production: - To produce maximum possible goods (both quantity and quality)
at minimum possible cost is another objective.
d) Economy in time
and efforts: - A businessman tries to share time and efforts to develop his
business through business organization
e) Developing sprit of co-operation among the employees and providing satisfaction to the employees.
The route by which good move from the place of production to
the place of consumption is termed as channel of distribution.
Classification of
channels of distribution: -
There are two types of channels of distributions namely
a) Distribution of consumer goods.
b) Distribution of industrial goods.
Distribution of
consumer goods: It is broadly classified into two types, namely
a) Direct Selling
b) Indirect Selling
a) Direct Selling: -
Producer -------------Ã
Consumer
The producer sells his goods directly to the consumers. This
is the shortest and simplest channel of distribution of consumer products
without involving a middleman in between.
b) Indirect Selling:
- In this case, there are one or two or more middle man in between the producer
& consumer. For example
i) Producer -------------Ã
Retailer -------------Ã Consumer
Many large retailers buy directly from manufactures and sell
to consumers
Some manufactures have established their own retail stores.
Ex: Bata shoe company.
ii) Producer -------------Ã
Whole sale -------------Ã Retailer -------------Ã
Consumer
This is traditional channels for consumer’s goods. This
channel is the only economically feasible choice for the manufactures to sell
their goods. The wholesalers buy the goods form the manufactures in large
quantities, stores the goods and then sells them in small quantities to a large
number of retailers.
iii) Producer -------------Ã
Agent -------------Ã Retailer -------------Ã
Consumer
Instead of using wholesalers, many producers prefer to use
the manufacturer’s agent or brokers to sell their goods to the retailer.
iv) Producer
-------------Ã Agent -------------Ã
Whole sealer -------------Ã Retailer -------------Ã
Consumer
The producers very often use agents or middle men who in
turn go to wholesalers who sell to retailers or to small stores.
Distribution of
industrials goods: - These channels are widely used in distribution of
industrials goods, they are
a) Producer -------------Ã
Industrial user
The manufacturers sell the large installations such as
locomotives, generators etc to the industrial users.
b) Producer -------------Ã
Industrial distributors -------------Ã User
Producers of small ancillary equipments (Eg – building
equipment) sell their goods through the industrial distributors.
c) Producer -------------Ã
Agent -------------Ã User
A company which wants to introduce a new product to the
market may prefer agents rather than distributors.
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