organizational chart

Determinants of Demand The following image depicts determinants of demand with their relations.The factors affecting demand are:Price, Income, Tastes, Price of Related Goods, Consumers' Expectations, Number of Buyers, Climatic Condition, Level of Economic Activity, and Miscellaneous Factors. Now let's discuss in detail each factor that influence demand. 1. Price Price is the value of product or

Importance of Quality Control Briefly listed below is the significance or importance of quality control.Image credits � Prof. Mudit Katyani.Detects Quality Deviation: Quality Control helps to find out quality deviation from the established standard. A proper system of it ensures a standard quality of production. Acceptance by Customers: The customers readily accept goods of standard quality. Good

Steps to improve product quality Quality is not a result of some random process. It does not happen on it own. It is an outcome of some appropriately controlled procedure or steps. Managers have a great responsibility to produce good quality products. They must establish a quality framework in the entire organisation. They must take following steps to improve product quality.Image credits � Prof.

How to make delegation effective? The delegation can be made effective by:Image credits � Gaurav Akrani.Unity of Command, Scalar Chain, Principle of authority and responsibility, Principle of delegation by results expected, Principle of absoluteness of responsibility, Principle of functional department, Proper motivation, Proper training, Active control system, Knowledge of what to delegate,

1. Delegation helps Superior focus on Challenging Jobs Under delegation, a superior (boss) delegates his less important duties, routine tasks and monotonous work to his subordinate (junior). He can then use some of his available free time to focus on other significant matters, important assignments and challenging jobs that are in pending. It saves his precious time and makes him more productive

Extension and Contraction of Demand Assuming other factors (or determinants) remain constant (don't change), the change seen in the demand due to a change in the price is called Extension and Contraction of Demand.The concept of extension and contraction of demand in economics can be studied and best understood with the help of the following graph.Image credits � Gaurav Akrani.In the above

Sources of working capital Following are various sources of working capital or short-term finance:Image credits � Prof. Mudit Katyani.Public Deposits is a significant source of working capital. It is an unsecured loan. It is taken by the company from the depositor for a short period. The maximum duration is three years. It has a high rate of interest. It is very popular in India. All types of

Factors affecting working capital requirements 14 factors affecting working capital requirements of a business:Image credits � Prof. Mudit Katyani.Nature of business, Size of business, Time and complexities of manufacturing process, Manufacturing cost, Growth and Expansion, Terms of purchase and sales, Conditions of supply, Market conditions, Business cycle, Operating cycle, Rate of Turnover,

Importance of working capital Every company needs working capital to meet its short-term expenses. It keeps the business moving. Without it, the business will stop, and the company will become sick.Explained below is the importance of working capital.Image credits � Prof. Mudit Katyani.Continuity in Business Operations: Working capital keeps the business operations moving. It is needed to

Concepts of Marketing The six concepts of marketing are depicted and listed below.Image credits � Prof. Mudit Katyani.These include:The concept of Exchange, The concept of Production, The concept of Product, The concept of Sales, The concept of Marketing, and The concept of Societal. Now let's discuss the six distinct concepts of marketing.Exchange Concept gives importance to the exchange of