DISADVANTAGES OF PARTNERSHIP?

DISADVANTAGES OF PARTNERSHIP
                         
UNLIMITED LIABILITY;

                   IN PARTNERSHIP BUSINESS, THE LIABILITY OF PARTNERS IS UNLIMITED
AND PERSONAL PROPERTY OF THE PARTNERS CAN BE SOLD FOR THE PAYMENT OF THE FIRM'S
DEBTS. DUE TO THIS , THE PARTNERS ALWAYS TRY TO AVOID INNOVATIVE AND RISKY BUSINESS.

LAKE OF CAPITAL;

               IT IS QUITE RIGHT THAT THE CAPITAL OF PARTNERSHIP BUSINESS IS GREATER
THAN THE SOLE PROPRIETORSHIP.BUT AS COMPARED TO THE JOINT STOCK COMPANY. CAPITAL OF PARTNERSHIP
BUSINESS IS SMALL WHICH DOES NOT ALLOW INNOVATION AND ITS EXPANSION ON LARGE SCALE.

BUSINESS ATMOSPHERE

BUSINESS ATMOSPHERE?
IT IS THE FRAMEWORK OF CERTAIN OBJECTIVES. THE OBJECTIVES OF COMMERCE ARE TO PROVIDE SERIES OF SERVICES OF ACTIVITIES
,WHICH CAN FACILITATE THE EXCHANGE OF GOODS UNTIL THEY ARE REACHED IN THE HANDS OF 
ULTIMATE AND PROPER CONSUMER. THUS, THE CONSUMERS CANSATISFY THEIR WANTS AND THE PRODUCERS CAN SELL THEIR GOODS TO GET PROFIT. IN ORGANZING
 THE ACTIVITIES IN COMMERCE WE GO THROUGH THE FOLLOWING ELEMENTS, WHICH ARE ALSO KNOWN AS AIDS OR AUXILIARIES TO TRADE.
1;BANKING
2;TRANSPORTATION
3;COMMUNICATION
4;INSURANCE
5;PUBLICITY/ADVERTISING
6;WAREHOUSING
7;MIDDLEMEN
8;PACKING

PARTNERSHIP?

PARTNERSHIP ;

                        FINDING GOOD PARTNER IS A KEY TO SUCCESS,IN ANYTHING;IN MARRIAGE, IN BUSINESS AND ESPECIALLY IN INVESTING.

WHEN TWO OR MORE PERSONS DETERMINE THEIR RIGHTS AND DUTIES TO RUN ANY LEGAL BUSINESS UNDER A CONTRACT, IT IS CALLED "PARTNERSHIP" . THE PERSONS WHO FORM THE PARTNERSHIP ARE INDIVIDUALLY CALLED "PARTNER" AND COLLECTIVELY KNOWN AS "FIRM". THIS TYPE OF BUSINESS ORGANIZATION WAS INTRODUCED DUE TO THE FOLLOWING DEFICIENCIES IN THE SOLE TRADER SHIP.

1;SHORTAGE  OF CAPITAL.

2;MORE BURDEN OF LOSS.

3;FAILURE OF MANAGING BUSINESS AFFAIRS.

BUSINESS PUBLICITY AND ADVERTISING?

BUSINESS ANALYSIS SAYS PUBLICITY ;

BUSINESS PUBLICITY AND ADVERTISING INFORMS THE CONSUMERS ABOUT THE AVAILABILITY OF VARIOUS PRODUCTS AND SERVICES. THEY REMOVE THE HINDRANCE OF KNOWLEDGE. THE MAIN PURPOSE OF ADVERTISING IS TO CREATE AND SUSTAIN DEMAND. IN THE ABSENCE OF ADVERTISING, CONSUMERS MAY REMAIN IGNORANT OF THE AVAILABILITY OF GOODS AND SERVICES AND BUSINESSMEN MAY NOT BE ABLE TO SELL THEIR PRODUCTS. THERE ARE VARIOUS FORMS OF ADVERTISING AND PUBLICITY SUCH , AS THE PRESS, OUTDOOR DISPLAYS, RADIO, TELEVISION, LETTERS TO CUSTOMERS, FAIRS, EXHIBITIONS AND CINEMA, ETC.

NEEDS OF EFFICIENT ORGANIZERS?

NEEDS OF EFFICIENT ORGANIZERS?    (BUSINESS REVIEW ABOUT THIS) 

                                                                THESE DAYS THE ACTIVITIES OF PRODUCTION HAVE BECOME COMPLEX. IN ORDER OT ORGANIZE THEM, THEREFORE, COMPETENT ORGANIZERS ARE REQUIRED. A SYSTEMATIC STUDY OF THE VARIOUS ASPECTS OF BUSINESS ORGANIZATION IS ESSENTIAL. IN OUR COUNTRY, THE STUDY OF BUSINESS ORGANIZATION IS MORE IMPORTANT BECAUSE OUR COUNTRY PROCEEDING ON THE ROAD TO INDUSTRIAL PROGRESS, IN THE ABSENCE OF THE KNOWLEDGE OF BUSINESS ORGANIZATION, WE SHALL NOT BE ABLE TO FULFILL THE OBJECTIVE OF PLANNED INDUSTRIAL DEVELOPMENT.

Types of sources of business finance?

Business analysis says that the types of source of business finance are three first of all "short term finance" second is "medium term finance" and the third is "long term finance"

Solid Earning?

Solid Earning

                     Business analysis says to ensure safety of investment to provide a fair and regular dividend or interest and different techniques of earnings are solid earning .

Future of business?

Future of business

                            The future of business must be assessed very precisely. The factor of technology is important in this regard. New inventions, innovations are continuously coming up. Today's technology rejects yesterday's. Consumer taste is also on the change. So, the businessman should make the careful analysis of business conditions, both local and abroad.

Chances of loss

                         In business, there is always an element of uncertainly or risk. Through, it is inevitable for a business yet factors involving chances of loss should be kept in mind to avoid the chances of loss in future.

WITH A VIEW TO RUN BUSINESS?

MANAGEMENT;

                              IT MUST BE DECIDED BEFORE THE START OF BUSINESS THAT HOW THE AFFAIRS OR WORKING OF BUSINESS SHALL BE MANAGED. THE POLICY OF HIRING EMPLOYEES AND DISTRIBUTING WORK SHOULD BE FRAMED.MOREOVER IT IS ALSO DECIDED THAT EITHER OWNERS WILL TAKE PART IN MANAGEMENT OR NOT.  

AVAILABILITY OF CAPITAL;

                                                       IN PRESENT MODERN SCIENTIFIC ERA , SUCCESS AND PROSPERITY OF BUSINESS DEPEND ON THE QUANTITY OF CAPITAL. EVERY BUSINESS TRANSACTION OR ACTIVITY DEPENDS UPON IT (E.G.) PURCHASE OF LAND, BUILDING,MACHINERY, RAW MATERIAL AND PAYMENT OF WAGES ETC. NO BUSINESS CAN BE STARTED OR RUN WITHOUT CAPITAL.

WHAT IS TRADE?

TRADE;

              THE LITERARY MEANING OF TRADE IS EXCHANGE OF GOODS. IT MAY BE DEFINED AS THE EXCHANGE OF COMMODITIES BETWEEN INDIVIDUALS OR GROUPS EITHER THROUGH BARTER SYSTEM OR THROUGH ANY MEDIUM SUCH AS MONEY. IT INCLUDES ALL THE SELLING AND BUYING ACTIVITIES EITHER WITHIN A COUNTRY OF ACROSS THE BOUNDARIES OF THE COUNTRY. IN ACTUAL PRACTICE, TRADE IS THE WHOLE PROCEDURE OF DISTRIBUTING THE GOODS PRODUCED BY DIFFERENT PERSONS OR INDUSTRIES TO THEIR ULTIMATE CONSUMERS. IT IS , THEREFORE, SAID "THE TRADE REMOVES THE PERSONAL HINDRANCE IN EXCHANGE OF COMMODITIES"

"TRADE IS AN ACTIVITY OF BUYING AND SELLING OF GOODS FOR MONEY OR OTHER GOODS".

ONE MAN CONTROL BUSINESS IS BEST

ONE MAN  CONTROL BUSINESS IS BEST

       MANAGEMENT IS A FORCE WHICH IS CONSIDERED RESPONSIBLE FOR THE SUCCESS OR FAILURE OF EVERY BUSINESS ORGANIZATION.THIS STATEMENT SHOWS THAT THE ROLE  OF MANAGEMENT IN A BUSINESS ORGANIZATION IS TO CONTROL, DIRECT AND OBSERVE THE BUSINESS AFFAIRS OR OPERATIONS.

              ONE MAN CONTROL (SOLE TRADER SHIP) IS THE SIMPLEST FORM OF BUSINESS ORGANIZATION, OWNED AND MANAGED BY ONE PERSON. ONE MAN CONTROL BUSINESS DOES NOT MEAN THAT ALL THE BUSINESS ACTIVITIES LIKE PURCHASE, PRODUCTION, MARKETING, ADMINISTRATION AND SALE ARE PERFORMED BY ONE PERSON. THERE MAY BE MORE PERSONS (WORKING AS EMPLOYEES) INVOLVED IN THE BUSINESS BUT THEY WORK ONLY FOR ONE,S OWN PROFIT.

URBANIZATION;

URBANIZATION;

                              AS THE BUSINESS UNITS ARE ESTABLISHED NEAR THE CITIES , THE JOBLESS PEOPLE LIVING IN VILLAGES MOVE TOWARDS THE CITIES IN ORDER TO EARN THEIR LIVING. THE AVAILABILITY OF OTHER FACILITIES  LIKE  SCHOOL,HOSPITAL,ELECTRICITY, GAS WATER,SUPPLY OF FOOD AND OTHER ITEMS AT REASONABLE PRICES IN THE CITIES RESULTS IN URBANIZATION. THIS EXPANSION IN CITIES LEADS TOWARDS ECONOMIC DEVELOPMENT.

DEVELOPMENT OF COUNTRY; 

                                                       AS WE KNOW THAT THE BUSINESS REDUCES UNEMPLOYMENT , PROVIDES BETTER LIVING STANDARD , SATISFIES HUMAN NEEDS AND UTILIZES THE RESOURCES OF A COUNTRY EFFECTIVELY ETC. THEN IT IS CORRECT TO SAY THAT A COUNTRY DEVELOPS OR PROGRESSES DUE TO THE BUSINESS.
  
 GOODWILL OF THE MORE FOREIGN EXCHANGE RESERVES, LOW LEVEL OF UNEMPLOYMENT, HIGH INCOME OF GOVERNMENT AND MORE TRADE ACTIVITIES ETC. IN THE COUNTRY DUE TO THE BUSINESS THEN IT CAN BE SAID THAT THE BUSINESS PLAYS A VITAL ROLE IN INCREASING THE GOODWILL OF A COUNTRY IN THE WORLD.  

FOREIGN RELATION

FOREIGN RELATION;

BUSINESS OF IMPORT AND EXPORT DEVELOPS INTERNATIONAL RELATIONS, WHICH ARE VERY MUCH NECESSARY FOR THE DEVELOPMENT OF A COUNTRY . THESE RELATIONS ALSO BECOME THE BASIS OF COOPERATION IN THE OTHER FIELDS LIKE SCIENCE , ART AND CULTURE ETC. MOREOVER, THE TARIFFS AND OTHER TRADE CONDITIONS CAN BE RELAXED FOR THE FRIENDLY COUNTRIES.

SURVIVAL OF COUNTRY;

                                                THE BUSINESS IS CONSIDERED AS A BACKBONE OF ANY COUNTRY. IF THE VOLUME OF A BUSINESS DECLINES IN A COUNTRY THEN IT RESULTS IN UNEMPLOYMENT, LOW LIVING STANDARD, LACK OF FUNDS FOR THE GOVERNMENT AND AT THE END TURNS INTO POOR ECONOMY. SO THE BUSINESS IS VERY MUCH NECESSARY FOR THE SURVIVAL OF A COUNTRY.

BETTER STANDARD OF LIVING?

BETTER STANDARD OF LIVING;
                                                              THE BUSINESS IF A SOURCE OF EMPLOYMENT FOR ITS OWNER , EMPLOYEES AND OTHER PEOPLE LIKE SUPPLIERS AND AGENTS ETC. SO, IT NOT ONLY PROVIDES BREAD AND BUTTER IN THEIR LIFE BUT ALSO BRINGS GRADUAL IMPROVEMENT IN THE STANDARD OF LIVING. IN THE ABSENCE OF BUSINESS, THE FLOW OF INCOME STOPS AND THE LIVING STANDARD GOES DOWN.

INCREASE IN EXCHANGE;

                                                  WHEN  A PERSON STARTED EXPORT BUSINESS AND SELLS THE GOODS TO THE FOREIGN COUNTRIES THEN HE RECEIVES THE PRICE IN THE CURRENCY OF THAT COUNTRY (FOREIGN CURRENCY). AS A RESULT, THE FOREIGN EXCHANGE RESERVES OF THE COUNTRY INCREASE, WHICH ARE USED FOR MAKING THE PAYMENTS OF IMPORTS THEN THE BALANCE OF PAYMENTS REMAIN

FAVORABLE OR NEVER BECOME TROUBLESOME.

PROGRESS OF OTHER FIELDS?

PROGRESS OF OTHER FIELDS?

                                                          THE PRODUCTION OF GOODS AT LARGE SCALE ALSO HELPS IN THE DEVELOPMENT OF OTHER FIELDS LIKE WAREHOUSING, MARKETING , COMMUNICATION, TRANSPORT, BANKING AND INSURANCE ETC.

EMPLOYMENT OPPORTUNITIES;

                                                               WHEN A BUSINESS IS STARTED, IT DIRECTLY PROVIDES EMPLOYMENT TO THE OWNER AND INDIRECTLY TO THE OTHER PEOPLE IN THE FORM OF JOBS (AS EMPLOYEES). SO, WHEN MORE BUSINESS UNITS ARE ESTABLISHED THEN THEY INCREASE THE EMPLOYMENT OPPORTUNITIES.

BETTER STANDARD OF LIVING; 

                                                              THE BUSINESS IS A SOURCE OF EMPLOYMENT FOR ITS OWNER, EMPLOYEES AND OTHER PEOPLE LIKE SUPPLIERS AND AGENTS ETC. SO , IT NOT ONLY PROVIDES BREAD AND BUTTER IN THEIR LIFE BRINGS GRADUAL IMPROVEMENT IN THE STANDARD OF LIVING. IN THE ABSENCE OF BUSINESS, THE FLOW OF INCOME STOPS AND THE LIVING STANDARD GOES DOWN.

THE INVESTMENT OPPORTUNITIES;

                                                                       THE BUSINESS USES THE SAVINGS OF PEOPLE IN PROFITABLE AND USEFUL  WAY . IT PROVIDES MANY OPPORTUNITIES TO THE PEOPLE TO EARN PROFIT.THE MODES OF INVESTMENT MAY BE;

        OWNER'S OWN INVESTMENT(OWNER'S EQUITY)
         
         INVESTMENT BY PURCHASING SHARES AND DEBENTURES.   

         INVESTMENT IN FORM OF PARTNERSHIP.

INNOVATION; 

                          A BUSINESS APPLIES RESEARCH AND DEVELOPMENT PROGRAM'S

 TO FIND OUT THE NEW WAYS OF PRODUCTION. FOR THIS PURPOSE, IT USES NEW AND MODERN METHODS OR TOOLS FOR THE PRODUCTION OF GOODS. IT NOT ONLY INCREASES THE PRODUCTION VOLUME AND PROFIT OF THE BUSINESSMAN BUT THE PEOPLE ALSO GET THE BENEFITS OF NEW INVENTIONS.

PRODUCTION?

PRODUCTION?

                             EVERY PERSON WANTS TO PURCHASE GOODS ACCORDING TO HIS NEED AND CHOICE.DUE TO THIS, THE BUSINESS ENTERPRISES PRODUCE A VARIETY OF GOODS BASED ON THE LIKING AND DISLIKING OF THEIR CUSTOMERS TO REMAIN/EXIST IN THE MARKET.

USE OF IDLE RESOURCES;

                                                THE OIL,GAS,MINERALS,ELECTRICITY, COAL AND IRON ARE THE GIFTS (RESOURCES) OF GOD. IN THE ABSENCE OF BUSINESS ACTIVITIES SUCH GIFTS REMAIN IDLE. A POOR COUNTRY REMAINS POOR DUE TO LACK OF PROPER UTILIZATION OF SUCH RESOURCES. WHEN A BUSINESS IS STARTED THEN THESE RESOURCES ARE PUT INTO USE FOR MEETING THE BUSINESS NEED.

OPTIMUM USE OF RESOURCES; 

                                                             DUE TO EXPANSION IN BUSINESS ACTIVITIES, THE MANUFACTURERS/PRODUCERS PRODUCE THE GOODS AT LARGE SCALE.THE MASS PRODUCTION IS ONLY POSSIBLE IF THE AVAILABLE RESOURCES LIKE GAS, OIL, IRON AND COAL ETC. ARE USED EFFECTIVELY. THE OPTIMUM USE OF SUCH RESOURCES PROVIDES INCOME NOT ONLY TO THE BUSINESSMAN BUT ALSO TO THE PEOPLE AND GOVERNMENT .