BUSINESS STUDIES UNIT-2 CBSE|PART 1|FORMS OF BUSINESS ORGANISATION|INTRO...

If one is planning to start a business or is interested in expanding an existing one, an important decision relates to the choice of the form of organisation.





to start a factory, plans must be made and implemented

about such problems as the location of the business, the possible number of customers, the kind and amount of equipment, the shop layout, purchasing and financing needs, and hiring of

workers. These problems become more complex in a big business. However, some of the basic factors, which must be considered by anybody who is to start the business are as follows:



(1) Selection of line of business

(2) Size of the firm

(3) Choice of form of ownership

(4) Location of business enterprise

(5) Financing the proposition

(6) Physical facilities

(7) Plant layout

(8) Competent and committed worked force

(9) Tax planning

(10) Launching the enterprise



this unit provides the detailed explanation on the choice of the form of ownership.



There are five forms of business organisations from which one can

choose the right one included.



they are



(1) Sole proprietorship,

It is a type of enterprise that is owned and run by one natural person.

Example:

           stationary shop,

           tuition centre,

           computer services,

           xerox shop.

           mechanic shop





(2) Joint Hindu family business,

Joint Hindu Family Business is a different type of organization, which is found only in India.

 As the name suggests, it is the type of organization in which all the members of Hindu Undivided  Family manage and control the business with the direction of the head of the family.

Example:

     Reliance Industries.

     Founded by Dhirubhai Ambani in 1966 as Reliance Commercial Corporation, Reliance Industries is the largest private sector conglomerate company in India. The company was divided between the founder's two sons, Mukesh Ambani and Anil Ambani in 2006.





(3) Partnership,

 A type of business organization in which two or more individuals invest money, skills, and other resources, and share the profit and loss.

Hero Honda is the example of partnership but now The two partners in Hero Honda Ltd have finally decided to ride off on their own in different directions.





(4) Cooperative societies.

the organization owned by and operated for the benefit of those using its services. Profits and earnings generated by the cooperative are distributed among the members, also known as user-owners.

Example:

    Amul is a trademark of Gujarat co-operatives of milk product and considered as the biggest co-operative of India today.





(5) Joint stock company.

A joint-stock company is a business entity in which different amount of shares of the company stock can be bought and owned by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares.

Example:

  The State Bank of India is the country's largest commercial bank and boasts more than 130 branches in at least 32 nations across the globe. The company is widely known for its diverse offering of financial services and traces its roots to the early 19th century.

There are 7,887,573,568 share holders for State bank of India.



In the next video let us look the sole proprietorship ownership in detail.

HOW TO HANDLE WITH COMPLAINTS|LIFE HACKS

How to handle complaints in business or in personal?

As per psychology of human, complaints are formed, because of dissatisfaction.
Most of the time complaints lead to arguments.
what to do, when someone keeps on complaining about his problem.
the psychological solution for handling complaints, is to make the person talk more and get more yes from him.
Let the other person talk more, lets learn this technique by a story.

STORY

Chief Engineer of MAX company was buying motors with Allison motors.
One day Chief Engineer of MAX company made a phone call to the marketing manager of Alison motors and told that he is going to stop buying remainder motors from Alison company.
lets see how marketing manager handled this complaint and convinced chief engineer.

Chief Engineer: I am going to cancel the motor contract.
Manager:Why Mr.chief?
Chief Engineer: Because your motors are too hot. I can't put my hands on them.
Now the manager realised the problem which lead to complaints and decided not to argue with chief.
Manager:well look, Mr.chief. I agree with you a hundred percent. if those motors are running too hot, you ought not buy any more of them.
 then the manager asked
Manager: You must have motors that won't run any hotter than standard set by the National Electrical Manufacturer Association. Is it that so?
the chief answered
Chief Engineer: yes, off course.
manager cleverly made chief to explain about those standards.
Manager: Chief could you tell me what those standards are.
Chief Engineer: The Electrical Manufacturer Association regulations say that a properly designed motor may have a temperature of  72 degrees Fahrenheit above room temperature. Is that correct Mr.manager.
Manager: absolutely correct Mr. chief. well if the mill room temperature is 75 degrees and you add 72 to that, that makes a total of 147 degrees.wouldn't you scald your hand if you held it under a spigot of hot water at 147 degrees Fahrenheit. Is it right?
Chief engineer: Yes.that's right.
then the conversation ended.
After a few days again the chief engineer made a phone call not to cancel the motors but to order more motors.
This the technique to handle complaints,
1. Make the other talk more
2. Don't argue on complaints.
3. make the other person say more yes to your question.
           

GST in a positive way|pros and cons

Process Planning Procedure

Goodleadermind

HOW TO BECOME A LEADER?|10 ELEMENTS OF A LEADER

Chennai minds

Hello friends, managers and leaders of today and tomorrow  world....today we are going to discuss about the elements required to be a best leader.
The military, followers, resources, advisers, friends and fortresses :
who owns these six is a lion amongst the leaders.

Fearlessness, generosity, wisdom and vitality:
these four are persistent characteristics expected of a leader.

(A)The leader expected to own:

1.The first military: A military, generally consist armed forces. There job is to keep the leader safe and protected, wherever he goes.
And they also have the responsibility of protecting followers and well wishers of leader.

2.The next a leader should have followers. A leader without followers is not a true leader.
a follower is a person  person who supports and admires a particular person and his ideas.
 For example:
Barack Obama had millions of followers to win election, Narendra Modi had million of followers to win election.

3.The next thing he has to own  is resources. Resource is supply of money, materials, staff, and other assets that can be drawn on by a person or organisation in order to function effectively.
resource helps leader to develop his knowledge,wisdom,generosity and to expand his volume,help people, develop his space,advancement in military,etc.
For example time is a resource which provides space to think, prepare, deliver your ideas and development.
computer is a resource which helps to record information, convey information, etc


4.The next thing he has to own  is adviser. A adviser is a person who gives advice in a particular field.
a leader should have adviser in all his fields of action.
the next thing he has to own is friends a friend is a person with whom one has a bond of mutual affection, typically one exclusive of sexual or family relations.
a friend may help in need, he may be a  adviser, he controls and changes your thoughts and action when you go wrong.
For example two leaders mahatma Gandhi ji and Jawaharlal Nehru are friends who fought for independence of India.

5.The next thing he has to own is fortresses it is a person or thing not susceptible to outside influence or disturbance.
generally a leader requires space or office to build ideas, to store data, for meetings, for staffs.
the fortress should be strong and secured to defend during storm, war,and to be safe from enemies.

(B)The characteristics expected of a leader:

1.Fearlessness means without fear; bold or brave; intrepid.
leader should never dread to ask question, and he should be brave to investigate, decision making, punishing the guilty person.

2.The next characteristic expected  is generosity. It is the quality of being kind and generous.
the leader should be ready to help. It is sometimes used in the meaning of charity, (the virtue of giving without expecting anything in return. It can involve offering time, assets or talents to aid someone in need).
Often it means to provide help to others by giving them an (usually precious) item without thinking twice.

3.The next characteristic expected  is wisdom. Wisdom or sapience is the ability to think and act using knowledge, experience, understanding, common sense, and insight.Wisdom has been regarded as one of four cardinal virtues; and as a virtue, it is a habit or disposition to perform the action with the highest degree of adequacy under any given circumstance with the limitation of error in any given action. This implies a possession of knowledge, or the seeking of knowledge to apply to the given circumstance. This involves an understanding of people, objects, events, situations, and the willingness as well as the ability to apply perception, judgement, and action in keeping with the understanding of what is the optimal course of action. It often requires control of ones emotional reactions (the "passions") so that the universal principle of reason prevails to determine ones action. In short, wisdom is a disposition to find the truth coupled with an optimum judgement as to what actions should be taken.

4.The next characteristic expected  is vitality. Vitality is life, life force, health, youth,the state of being strong and active, energetic.
the leader should be strong both mentally and physically. The leader should be always active about his surroundings to avoid mistakes and progressive,He should be planned before an activity.