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Business Theory and Practice

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Language:  English
This book is an attempt to outline the basic principles of organizing a business unit, and provides an insight into the various activities of a modern business organization.
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Starting a new business or running an existing one in modern times entails a serious thought. The first matter to be decided when considering the establishment of a new business or running an existing one is its objectives: what it is going to do, and what it is hoped the business will achieve. Once the objectives are clear, basic policies can be laid down to decide how those objectives will be achieved. To this end, full investigation and research need to be undertaken before a final decision is reached. This book is an attempt to outline the basic principles of organizing a business unit and provides an insight into the various practical aspects of managing a modern business organization. Entrepreneurs as well students of business management will find it a source of practical ideas.

  1. Planning and forecasting
    1. Meaning of business
    2. Basic policies of business
    3. Planning
    4. Forecasting
  2. Modern business
    1. Types of enterprises
    2. Types of businesses
    3. The interdependence of enterprises
    4. Types of business units
    5. Who controls limited companies?
    6. The Board of directors
    7. Channels of distribution
    8. Types of trading enterprises
    9. Own brands and private labels
  3. Financing of businesses
    1. Commonly used terms
    2. Meaning of capital
    3. Raising the capital
    4. Raising additional finance
  4. Starting a business
    1. Business plans
    2. Assessing market potential
    3. Purchasing existing businesses
  5. Business organization
    1. Delegation of responsibility
    2. Expansion of business
    3. Types of organizational structure
    4. Communication in business
  6. Budgeting and pricing policy
    1. Importance of budgeting
    2. Budgetary control
    3. Standards in business
    4. Pricing Policy
  7. Credit control and discounts
    1. Introduction
    2. Importance of allowing credit
    3. Effect of allowing credit on demand
    4. Forms of credit
    5. Dangers in allowing credit
    6. Principles of credit control
    7. Discounts
  8. Management of personnel
    1. Human resource
    2. Recruitment of personnel
    3. Recruitment process
    4. Selection
    5. Induction, training and development
    6. Training and development
    7. Employee counseling
    8. Equal Opportunity Policy
    9. Remuneration
  9. Stock Control and Stores Management
    1. Introduction – Why stocks are held
    2. What is involved in store management
    3. Relationship between stores and other departments
    4. Stock verification
    5. Inventory control
    6. Concept of purchasing
    7. Purchasing methods
  10. Sales and marketing
    1. Importance of salesmanship
    2. Sales and marketing management
    3. Sales promotion campaigns
    4. Types of sales promotion
    5. Advertising
    6. The sales team
  11. Production management and Industrial administration
    1. What production involves
    2. Factors for efficient production
    3. Production policy
    4. Methods of production
    5. Factory location, planning and layout
    6. Materials handling
    7. Production planning and control
  12. Financial accounting
    1. Need
    2. Bookkeeping
    3. Principles of bookkeeping
    4. Books of account
  13. Office organization and control
    1. Introduction
    2. Functions of the office
    3. Office location and layout
    4. Planning the office layout
    5. The office environment
  14. References
  15. The Author
About the Author

Manmohan Joshi

Manmohan’s interactive style and unique ability to engage with young as well as not so young has made him a very effective training facilitator. He has conducted a horde of training programmes in India and the Middle East. His deep insight into the culture of his home country – India – and that of the Middle East has made it possible for him to effectively engage audiences. He has also made presentations on various topics at International Conferences under the auspices of UNESCO, and ensured that his practical viewpoints are shared with a wide variety of audience.

Currently a Freelance Training Facilitator, Manmohan has authored several eBooks on Management and Education.

Having worked as Head of several educational and training organisations in India, Kuwait and Oman, he has specialised in training programmes for people in a wide variety of professions. He has also made a Webinar presentation on Personality Development organised by a US-based organisation.

An alumnus of Cambridge International College (UK), Manmohan also holds a Ph.D. in Management, and Masters in Business Management, Education and English.

Manmohan is currently India-based and conducts training programmes for college students, professors and management executives.

Among his other programmes the following are in much demand:

  • Soft Skills

  • Business Communication

  • Leadership & Teambuilding

  • Pedagogy of Teaching at college/school level

  • EMI (English as Medium of Instruction) Skills for college professors

  • Guidance and counselling in educational institutions