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Entrepreneurship Developement

Entrepreneurship development is the process of enhancing the knowledge and skills of entrepreneurs with the help of various classroom and training programs. The aim of entrepreneurship development (ED) is to increase the number of entrepreneurs in the country. It helps in economic development by increasing capital formation and employment. It also promotes balanced regional growth in the country. Theories of Entrepreneurship development: 1. Economic Theory: The theory defines the relationship between economic growth and entrepreneurial development. It postulates that only when there are economic incentives, the entrepreneur gets motivated to take the project. Hence, there should be favorable economic conditions. Various economic incentives take the form of concessional tax policies, industrial policies, easy access to sources of finance and raw materials, along with the availability of infrastructure access to information about technology and market conditions and technology. 2. Sociol

Branding: Objectives and Advantages

Branding name can recognize the product. Once the name has been recognized, it may run smoothly among the people. The firm wants to create awareness and recognition through branding strategies. The question arises what is a ‘brand’? A brand is a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of others. The part of the brand which can be vocalized (the utterable) is known as the brand name. That part of the band that is given legal protection for exclusive use by the seller is known as the trademark. A trademark may, thus, include any word, name, symbol or design. A trademark registered fo a service is known as a service mark.  Objectives of Branding: The aim of branding a product or service is the same everywhere in the world. The three major objectives of branding are as follows: Create identification and brand awareness. Guarantee a certain level of quality

Why do We Celebrate Engineer's Day on September 15th ?

Engineer’s day is celebrated in India on September 15 th of the every year to commemorate the birthday of the legendary civil engineer Sir Mokshagundam Visvesvaraya (popularly known as Sir MV )   Sir M Visvesvaraya was internationally recognized for his genius in harnessing rain water resources in India. He designed automatic weir water flood gates , was first installed in 1903 at the Khadakwasla Reservoir, Pune. He also designed flood protection system for Hyderabad, giving him celebrity status in India. He was responsible for the construction of  Krishna Raja Sagara  dam in Mysore as a chief engineer. He served as a dewan of Mysore State. He turn-around of the Bhadravati Iron and Steel Works, setting up of the Mysore Sandalwood Oil Factory and the founding of the Bank of Mysore. To remember his remarkable contributions, we celebrate engineers days on his birthday (September 15 th )

Management: Introduction, Elements, Characteristics and Significance

 Management is the art of managing people and resources at the organization. It gives various theories, tools and techniques to manage and increase the productivity of the organization. According to P Drucker, "Management is a multipurpose organ that manages a business and manager manages workers and work." According to Heinz Weihrich and Harold Koontz, "Management is the process of designing and maintaining an environment in which individuals working together in groups, efficiently accomplish selected aims." Thus, it is the process of efficiently achieving organizational objectives by efficiently using restricted means and resources. Elements of Management: Management aims at achieving a predefined goal, thus it focuses on effectiveness. Management deals with physical and human resources. Management is a process that is regular and continuous. The principle of management is applicable to all forms of organization, thus it is universal. Management deals with a group

Remove 'Powered by Blogger' - Attribution Widget In this article, I will be demonstrating how to remove the ‘Powered by Blogger attribution widget in the footer of Blogspot blogs. Before going to the process, backup your blogger template , while editing HTML code if anything goes wrong or the template modified design doesn't work or looks good you can restore it from a backed-up template. Here I have demonstrated to you two methods for removing the attribution widget. Some blogger templates may not support method 1 then you need to follow method 2 for successfully removing the attribution widget. Method 1: Removing ‘Powered by Blogger’ by unlocking the Attribution widget Step 1 : Go to your blog "Template" | click on "Edit HTML".

Factors Affecting Foreign Exchange Rate

There are various factors that affect the demand and supply of the currencies thus affecting the exchange rate in the foreign exchange market. Few key factors are explained below: Inflation: As inflation rises, in one country (India), the domestic goods become expensive in comparison to another (USD). This leads to more imports and a fall in exports. This will reduce demand for INR and increase the supply of INR. Similarly, demand for USD will increase and its supply will decrease. The overall impact will be depreciated of Indian Rupee. Interest Rate: When the interest rate in one country (India) rises in comparison to another (USA), then all the individuals and firms will invest in the country where the interest rates are high. This will lead to the sale of USD and the purchase of INR. Thus, the demand for USD will fall and that of INR will rise. Similarly, Indians will invest in INR and not USD. Thus, the supply of INR will fall and supply for USD will increase. The net effect will

Working Capital Management

Working capital management takes the decision to invest in short-term assets. Current assets of the firm comprise cash, receivables and inventory. Working capital management decides how much money should be invested in each of these assets. This decision is crucial as it affects the liquidity and the profitability of the firm. If the company invests its entire fund in the current asset, then, it will not be able to invest in the risky and long-term assets. This will result in lesser profits but the liquidity will be high. On the other hand, if the firms do not invest in the short term, then there will be a risk of short-term insolvency, but profitability will be high. Gross working capital is known as the current assets of the firm. Net working capital is the difference between current assets and current liabilities. Approaches to Working Capital: It deals with determining what proportion of working capital should be financed by long-term sources and how many by short-term sources. Hed

Marginal Costing

The term 'marginal cost' is defined as "the amount at any given volume of output, by which aggregate costs are changed if the volume of output is increased or decreased by one unit. It is a variable cost of one unit of product or service, i.e. a cost, wh8ich would be avoided is that unit was not produced or provided". According to CIMA terminology, " Marginal costing is the ascertainment of marginal costs of the effect on profit changes in volume or type of output by differentiating between fixed costs and variable costs." It is a technique of decision making, which involves the ascertainment of total costs. classification of costs into one fixed and variable. use of such information for analysis and decision-making.. Marginal costing is mainly concerned with providing information to management to assist in decision-making and to exercise control. Marginal costing is also known as 'variable costing' or 'out of pocket costing'. Important Fact

International Business: Objectives, Advantages and Disadvanatges

International business refers to business activities or transactions carried out beyond the national borders of a country. It is a much wider term comprising of all the commercial transactions taking place between two countries. International business can occur between different nodes, which can be exporting, licensing, contract, manufacturing, foreign assembly, foreign production, joint venturing and others. For a study of international business or trade, it is necessary to understand the nature and extent of economic interdependence among countries. Countries depend on each other for a variety of economic transactions i.e. transactions is good, service and capital. Being a part of the world economy, no country live in economic isolation or afford to keep out of the global economy. Countries are highly interdependent for their economic growth. Objectives of International Business: Profit Advantage: International business could be more profitable than domestic. There is a number of ca

Leveraged Buyout

Leveraged Buyout (LBO) is the acquisition of a company where the acquisition is substantially financed by loans and debt. When the management of a company buys their company from their owners, it is called Management Buyout (MBO). The purchase price has 70-90% of debt proportion and generally has a low credit rating. LBOs are popular in countries like the USA, UK. The sellers obtain debt on the basis of the company's future growth potentiate. The key objective of LBS is to enhance wealth swiftly in a very short period of time. The acquirer will go public after few years and earn capital gains. Targets for LBO: The companies decide on characteristics that must be possessed by the acquired firms. Following are general targets for LBOs Low operating risk: Companies that have a low business or operating risk are attractive for LBOs. High Debt Capacity: Firms that have high debt capacity and high liquidity are preferred as there is less chance of insolvency. High Profits: A firm tha