Friday, 31 January 2014
HOW TO DRAFT A CIRCULAR:
HOW TO DRAFT CIRCULAR:
Þ Try to commence in excellent manner considering the specific product in mind so that the readers can a curious to read further.
Þ Description of the product & it’s features in an effective way.
Þ Try to highlight the aspects like cost, durability, whatever offers may, be the service also.
Þ If you are having an evidence, try to give a brief review of it.
Þ Description of the various offers.
Þ Give them an idea how they can convert their interest & desire into an action.
What is AIDA in Marketing
What is AIDA in Marketing:
1) ATTRACTING ATTENTION:
The first function of a writer is to being the circular in an excellent manner by applying to the needs of consumer buy asking a question, by giving an offer, by quoting any proverbs, by using if unless etc..
This type of opening will create a curiosity in the customer so that he/she will be tempted to read it further.
2) AROUSING THE INTEREST:
The circular should include the feature of a product in such a manner, that the reader will take keen interest considering the general mentality of consumer, the righter has to put stress some of the aspect the cost, the durability, the offers etc...
3) STIMULATION OF DESIRE:
If you are successful in attracting attention & arousing the interest, you can also stimulate the desire by giving them reference of any individual experience, profit figures, in the suitable evidences, one should not go for tall claims.
4) SECURING THE ACTION:
If the above mentioned three functions are achieved, it will definitely induce the customer to convert his/her ideas in to an action by purchasing that product.
WHAT ARE THE OBJECTIVES OF SALES PROMOTION
WHAT
ARE THE OBJECTIVES OF SALES PROMOTION
1)
To
promote the sale of specific product.
2)
To
make the public aware about the product, it’s feature & offers related to
it.
3)
To
maintain the goodwill between the customer & company.
4)
It
also function as a reminder, to send such circular frequently, It’s serves the
purpose of reminder.
5)
To
educated the consumers regarding that specific product.
DISCUSS THE 3P’S
1) POTENTIAL CUSTOMER:-
Understanding the customers ideology or
tests etc.. is the key to make circular effective for that purpose. The writer
should place him self in the place of consumer for the understanding of
consumers needs.
2) PRODUCT:-
2) PRODUCT:-
For
drafting any circular it is necessary to have the knowledge of the specific
product & it’s major features .that means one has to emphasize on the
selling point of that product. Whatever claims made, it should be elaborated
with the facts, by giving evidences in the form of the figures of profit, the
personal experience of customers who have used it before.
3) PREPOSITION:-
In
circular to induce the consumer to purchase the product, various offers to be described;
specific time limit, something free, warranty etc...
Entrepreneurs and Strategic Decisions
Entrepreneurs and Strategic Decisions
Objectives
•Discuss the fundamental elements of entrepreneurial
decision-making
•Connect cognition to the entrepreneurial process
•Examine
strategic decision-making as a unique and significant tasks for entrepreneurs
Decision
making is a cognitive process.
•Cognitive =
Thinking
–Cognition involves
individual decision-making involving the selection of a specific course of
action that is supposed to bring a certain result.
•Decision-making
implies choice.
–Alternative are available is a decision exists.
–Exact
outcomes are unknown, albeit estimated.
Strategic
decisions typically share the same process.
1. Recognizing a problem situation
2. Generating alternatives
3. Evaluating the various alternatives
4. Selecting
the alternative that best satisfies our evaluation criteria
Study of
entrepreneurial decision-making leads to better decisions.
•Decisions of
entrepreneurs differ from company managers
–Operate with limited information
–Must be action-oriented and decisive
–Accept risk
–Involve major
consequences
Decision-making
is a strategic activity.
•Setting
specific courses of action to reach strategic goals.
–Revenue and profit goals
–Market share and competitive advantage
–Product
superiority and technical advantage
•Strategic
decisions involve critical analysis, resource investment, and company
commitment.
Strategic
decisions share four fundamental characteristics.
•Complexity: facts, variables, and contingencies
relevant for the decision at hand
•Uncertainty: all possible outcomes are not known and
are difficult to forecast
•Rationality: a specific goal is intended by making a
decision
•Control:
intentional and deliberate actions are made by decision-makers
Environment of entrepreneurs is uniquely
challenging.
•Entrepreneurs are doing new things.
•Entrepreneurs are without the resources and relationships
typical of established companies.
•Uncertainty
and complexity levels are high.
–Consequences
of failed decisions include failed businesses; significant financial and
emotional pain.
Summary
•Understanding
entrepreneurial decision-making critically important for earliest stages
–Without
opportunity discovery, there’s no venture
•Decision-making
is a unique and significant tasks for entrepreneurs
–Requires
quick, high-stakes decisions with incomplete information in a dynamic market
POPULATION GROWTH IN INDIA
POPULATION GROWTH IN INDIA
In 2011 ,
population in these two age groups formed
The high growth rate of population in India during the planning period
has resulted in a tremendous pressure of population on land resulting in
declining land-man ratio which in turn has proved as an obstacle to
development. As said in the earlier chapter the density of population which was
117.
Population and growth of per capital Income:
Rapid growth of population has proved to be obstacle in the way of raising the
growth rate of per capital income and standard of living to a higher level.
Increasing population has siphoned off the benefits of rising national Income
with the result that there has not been any appreciable increase in the per capital income.
Population growth and per-capital Availability of
food: A high growth rate of population makes the
food situation acute which we witnessed till the fourth plan. This is one reason why about 45
% of our children are underweight and our infant mortality rate at 47 per 1000
is much higher than our neighbors- it is 20 in Sri Lanka and 33 in China.
Population and the Burden of Unproductive Consumers: A high
growth rate of population leads to an increase in the number of
unproductive consumers who are not engaged in employment and therefore do not make any contribution to the growth of
national income. Broadly speaking,
population in the age group of 0-14 and
60 years and above about 41% of the total population.
Population and unemployment: Rapidly rising population increase the
number of entrants in the employment market and adds to the dimension of
the problem of unemployment. This is because in an underdeveloped economy ,
employment opportunities in labor force.
Population and capital Formation: A Rapidly rising population
makes it all the more difficult and in fact obstructs
the process of capital formation. The addition to population means addition to
the large number of existing consumers. The newly, born
till they reach the working age,have to
be fed clothed and
educated .
Besides, a part of saving will have to be used For
providing such essential public service like health, education, medical care,
sanitation, housing etc.
Population
and Burden of Education, Healthcare and Housing: Rapidly growing population causes. An-increasing
burden on providing education healthcare and housing facilities which puts a
heavy Strain
on our slender resources. It is also
worthwhile pointing out here that expenditure on education in 2012-2012 was
estimated at about 3.31. Percent
of our gross domestic product and that on Health
was just a meager of about 1.36 %of our Gross
domestic product.
Need
for a Higher Rate of Demographic Investment: The Rate of demographic investment is that rate of Investment
which is necessary to maintain the current per capital income in the context of rising Population.
The present growth rate of population. Is
about 2% per annul Now, to maintain population at the existing standard
of living, national income must also rise at the rate of 2% per annul The
capital output ratio for the Indian economy at present is estimated at
5.5.Hence, in order to bring about an increase in national income At
the rate of 2% , demographic
investment of The
order of about 11% (2x5.5) is
necessary.
This results
in showing down
the rate of Economic growth.
Thursday, 23 January 2014
Short Note on SEZ (Special Economic Zone):
SEZ (Special
Economic Zone):
India was one of the first in Asia to recognize the
effectiveness of the Export Processing Zone (EPZ) model in promoting exports,
with Asia's first EPZ set up in Kandla in 1965. With a view to overcome the
shortcomings experienced on account of the multiplicity of controls and
clearances; absence of world-class infrastructure, and an unstable fiscal
regime and with a view to attract larger foreign investments in India, the
Special Economic Zones (SEZs) Policy was announced in April 2000.
This policy intended to make SEZs an engine for economic
growth supported by quality infrastructure complemented by an attractive fiscal
package, both at the Centre and the State level, with the minimum possible
regulations. SEZs in India functioned from 1.11.2000 to 09.02.2006 under the
provisions of the Foreign Trade Policy and fiscal incentives were made
effective through the provisions of relevant statutes.
To instill confidence in investors and signal the
Government's commitment to a stable SEZ policy regime and with a view to impart
stability to the SEZ regime thereby generating greater economic activity and
employment through the establishment of SEZs, a comprehensive draft SEZ Bill
prepared after extensive discussions with the stakeholders. A number of
meetings were held in various parts of the country both by the Minister for
Commerce and Industry as well as senior officials for this purpose. The Special
Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received
Presidential assent on the 23rd of June, 2005. The draft SEZ Rules were widely
discussed and put on the website of the Department of Commerce offering
suggestions/comments. Around 800 suggestions were received on the draft rules.
After extensive consultations, the SEZ Act, 2005, supported by SEZ Rules, came
into effect on 10th February, 2006, providing for drastic simplification of
procedures and for single window clearance on matters relating to central as
well as state governments.
The main objectives of the SEZ Act are:
(a) generation
of additional economic activity
(b) promotion of exports of goods and services;
(c) promotion of investment from domestic and foreign sources;
(d) creation of employment opportunities;
(e) development of infrastructure facilities;
(b) promotion of exports of goods and services;
(c) promotion of investment from domestic and foreign sources;
(d) creation of employment opportunities;
(e) development of infrastructure facilities;
It is expected
that this will trigger a large flow of foreign and domestic investment in SEZs,
in infrastructure and productive capacity, leading to generation of additional
economic activity and creation of employment opportunities.
The SEZ Act 2005 envisages key role for the State Governments in Export Promotion and creation of related infrastructure. A Single Window SEZ approval mechanism has been provided through a 19 member inter-ministerial SEZ Board of Approval (BoA). The applications duly recommended by the respective State Governments/UT Administration are considered by this BoA periodically. All decisions of the Board of approvals are with consensus.
The SEZ Rules provide for different minimum land requirement for different class of SEZs. Every SEZ is divided into a processing area where alone the SEZ units would come up and the non-processing area where the supporting infrastructure is to be created.
The SEZ Act 2005 envisages key role for the State Governments in Export Promotion and creation of related infrastructure. A Single Window SEZ approval mechanism has been provided through a 19 member inter-ministerial SEZ Board of Approval (BoA). The applications duly recommended by the respective State Governments/UT Administration are considered by this BoA periodically. All decisions of the Board of approvals are with consensus.
The SEZ Rules provide for different minimum land requirement for different class of SEZs. Every SEZ is divided into a processing area where alone the SEZ units would come up and the non-processing area where the supporting infrastructure is to be created.
The SEZ Rules
provide for:
- " Simplified procedures for development, operation, and maintenance of the Special Economic Zones and for setting up units and conducting business in SEZs;
- Single window clearance for setting up of an SEZ;
- Single window clearance for setting up a unit in a Special Economic Zone;
- Single Window clearance on matters relating to Central as well as State Governments;
- Simplified compliance procedures and documentation with an emphasis on self certification
Incentives
and facilities offered to the SEZs
The incentives and facilities offered to the
units in SEZs for attracting investments into the SEZs, including foreign
investment include:-
Ø Duty
free import/domestic procurement of goods for development, operation and
maintenance of SEZ units
Ø 100%
Income Tax exemption on export income for SEZ units under Section 10AA of the
Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of
the ploughed back export profit for next 5 years.
Ø Exemption
from minimum alternate tax under section 115JB of the Income Tax Act.
Ø External
commercial borrowing by SEZ units upto US $ 500 million in a year without any
maturity restriction through recognized banking channels.
Ø Exemption
from Central Sales Tax.
Ø Exemption
from Service Tax.
Ø Single
window clearance for Central and State level approvals.
Ø Exemption
from State sales tax and other levies as extended by the respective State
Governments.
Ø The
major incentives and facilities available to SEZ developers include:-
Ø Exemption
from customs/excise duties for development of SEZs for authorized operations
approved by the BOA.
Ø Income
Tax exemption on income derived from the business of development of the SEZ in
a block of 10 years in 15 years under Section 80-IAB of the Income Tax Act.
Ø Exemption
from minimum alternate tax under Section 115 JB of the Income Tax Act.
Ø Exemption
from dividend distribution tax under Section 115O of the Income Tax Act.
Ø Exemption
from Central Sales Tax (CST).
Ø Exemption
from Service Tax (Section 7, 26 and Second Schedule of the SEZ Act).
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Export
Performances
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Exports from
the functioning SEZs during the last three years are as under:
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