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ENTREPRENEURSHIP DEVELOPMENT AND MANAGEMENT

LEARNING OBJECTIVES:

 Concept of human resource management.

 Study of material and store management.
 About marketing and sales management.
 To know about financial management.

CHAPTER-6(Management scope in different areas)

6.1. INTRODUCTION

Every organization or company has a business to run, and make some pretty good profits. In order
to do that successfully and in the best possible way, every company requires some great managers.
Managers are those skilled and field professionals who supervise the whole structure of movement
in their department and take care of each and everything in the best possible way in order to
provide best results to the company and find the best possible solutions needed in order to solve the
problem and get the job done. This makes the management sector as most desirable job
opportunity in our country as well in foreign countries with a center of all the gem companies.
According to facts, Management sector including all its departmental sections outsources second
most people after the IT professional. Also in an organization, average salary of a management
professional is much more higher than any other professionals and are always provided with a
team leader or supervisor positions in the organization.
6.2 HUMAN RESOURCE MANAGEMENT
Human resource management can be understood as the management of all the inside employee
and hirable manpower for the company. A human resource management works with maintaining
the work and responsibilities of every member of the team and fulfilling his or her requirements to
a possible way and creating a better environment to work so that efficiency of each and every
employee can be increased. These all the roles of a human resource manager.
Inventory management deals with the maintenance, management and stocking of all the goods for
an inventory. The main responsibility of this type of people is to track all the activity in the
inventory and overcome all the desired requirements in order to maintain the supply in order to
meet the demand.

6.2.1. What is Human Resource Management?

Human resource management, HRM, is the department of a business organization that looks after
the hiring, management and firing of staff. HRM focuses on the function of people within the
business, ensuring best work practices are in place at all times.

6.2.2. Key Responsibilities

Any large or mid-size business will have a human resource management department. When there is
the need for employing more staff the HRM will source suitable applicants. If the business needs to
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downsize, the HRM will also oversee the redundancy process for the unwanted staff. The HRM also
manages vacation time, illness problems, bereavement leave and other day to day staff problems
without cause for the involvement of senior management.

In the matter of a legal dispute with a member of staff, the HRM will take over the case. They will
deal with all aspects of the dispute and find in favor of one of the parties involved. Where staff are
in breach of their employment contract the HRM will intervene and handle a termination if
necessary.

The HRM department ensures the smooth running of the staff within a business. This allows the
management to focus on the running of the business and not get distracted by internal rows
involving employees.

In a smaller business the HRM may be the responsibility of the line manager. The work may take
focus from their daily job and in time a business may need to employ a HRM officer or train an
existing member of staff to take on the role.

6.2.3. Vital in the Growth of a Business

The job of the HRM involves the training of staff in best working practices but also in preparing
staff for advancing within the organization. This is a key role. By not retaining and continually
training existing staff a business may not grow according to plans. Experience is not easy to come
by and having staff with the necessary skills already on board avoids many problems in the future.
It is cheaper to train existing staff than to source and train new members.

Human resource management also keep the business a pleasant place in which to work. Making
staff and management aware of employment law and good behaviour at work is part of every HRM
department’s remit. They resolve disputes before they arise, remove staff that may not add to the
overall ethos and mediate between staff and management when problems do occur.

6.2.4. The performance appraisal

The performance appraisal is the process of assessing employee performance by way of

comparing present performance with already established standards which have been already
communicated to employees, subsequently providing feedback to employees about their
performance level for the purpose of improving their performance as needed by the organisation.

As said above the very purpose of performance uprising is to know performance of employee,
subsequently to decide whether training is needed to particular employee or to give promotion with
additional pay hike. performance appraisal is the tool for determining whether employee is to be
promoted, demoted or sacked ( remove ) in case of very poor performance and no scope for
improvement.

Every corporate sector uses performance appraisal as a tool for knowing about the employee and
take decisions about particular employee. for the purpose of performance appraisal of employees
there are different methods under the category of traditional methods and modern methods which
are discussed in following chapters.
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6.3. Materials and store Management: Meaning, Importance and Functions!

The need for materials management was first felt in manufacturing undertakings. The servicing

organizations also started feeling the need for this control. And now even non-trading

organizations like hospitals, universities etc. have realized the importance of materials

management. Every organization uses a number of materials. It is necessary that these materials

are properly purchased, stored and used.

Any avoidable amount spent on materials or any loss due to wastage of materials increases the

cost of production. The object of materials management is to attack materials cost on all fronts and

to optimize the overall end results. Materials management connotes controlling the kind, amount ,

location and turning of the various commodities used in and produced by the industrial enterprises.

It is the control of materials in such a manner that it ensures maximum return on working capital.

“Material management is the planning, directing, controlling and co-ordination of all those

activities concerned with material and inventory requirements, from the point of their inception to

their introduction into manufacturing process.”

6.3.1.Importance of Material Management:

Material management is a service function. It is as important as manufacturing, engineering and

finance. The supply of proper quality of materials is essential for manufacturing standard products.

The avoidance of material wastage helps in controlling cost of production. Material management

is essential for every type of concern.

6.3.2.The importance of material management may be summarized as follows:

1. The material cost content of total cost is kept at a reasonable level. Scientific purchasing helps

in acquiring materials at reasonable prices. Proper storing of materials also helps in reducing

their wastages. These factors help in controlling cost content of products.

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2. The cost of indirect materials is kept under check. Sometimes cost of indirect materials also

increases total cost of production because there is no proper control over such materials.

3. The equipment is properly utilized because there are no break downs due to late supply of

materials.

4. The loss of direct labour is avoided.

5. The wastages of materials at the stage of storage as well as their movement is kept under

control.

6. The supply of materials is prompt and late delivery instances are only few.

7. The investments on materials are kept under control as under and over stocking is avoided.

8. Congestion in the stores and at different stages of manufacturing is avoided.

6.3.3.Functions of Material Management:

Material management covers all aspects of material costs, supply and utilization. The functional

areas involved in material management usually include purchasing, production control, shipping,

receiving and stores.

The following functions are assigned for material management:

1. Production and Material Control:
Production manager prepares schedules of production to be carried in future. The requirements of

parts and materials are determined as per production schedules. Production schedules are

prepared on the basis of orders received or anticipated demand for goods. It is ensured that every

type or part of material is made available so that production is carried on smoothly.

2. Purchasing:
Purchasing department is authorized to make buying arrangements on the basis of requisitions

issued by other departments. This department keeps contracts with suppliers and collects

quotations etc. at regular intervals. The effort by this department is to purchase proper quality
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goods at reasonable prices. Purchasing is a managerial activity that goes beyond the simple act of

buying and includes the planning and policy activities covering a wide range of related and

complementary activities.

3. Non-Production Stores:
Non-production materials like office supplies, perishable tools and maintenance, repair and

operating supplies are maintained as per the needs of the business. These stores may not be

required daily but their availability in stores is essential. The non-availability of such stores may

lead to stoppage of work.

4. Transportation:
The transporting of materials from suppliers is an important function of materials management.

The traffic department is responsible for arranging transportation service. The vehicles may be

purchased for the business or these may be chartered from outside. It all depends upon the quantity

and frequency of buying materials. The purpose is to arrange cheap and quick transport facilities

for incoming materials.

5. Materials Handling:
It is concerned with the movement of materials within a manufacturing establishment and the cost

of handling materials is kept under control. It is also seen that there are no wastages or losses of

materials during their movement. Special equipment’s may be acquired for material handling.

6. Receiving:
The receiving department is responsible for the unloading of materials, counting the units,

determining their quality and sending them to stores etc. The purchasing department is also

informed about the receipt of various materials.

6.4. Marketing management

Marketing management is the stream in management studies that focuses on planning the
advertising and public reach strategy for a company. The main responsibility of the people in this
sector is to create better strategies to create a better product reach of a product without ruining the
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budget allotted for the marketing. Apart from the marketing and advertising create and analysis of
the positive and negative reviews about the organization and its products and maintaining the good
reputation also comes under the agenda of this section.
ABC analysis is a system for inventory control used throughout materials and distribution
management. It is also sometimes referred to as selective inventory control, or SIC. ABC analysis
can be put to use for a wide range of inventory items, such as manufactured products, components,
spare parts, finished goods, unfinished goods or sub assemblies.

Whatever sort of items on an inventory it is used for, the approach works by setting all of them into
three distinct categories. Therefore, ABC analysis is a system of categorization, using three
classes, of which each class has a differing management control.

6.4.1. ABC Analysis

The ‘ABC’ in ABC analysis, as known as ABC Classification, refers to the three classes or
categories used in the system. The first, A, is the category for items that are outstandingly
important, or business critical. The second, B, is the classification for items of average or middling
importance. Finally, category C is the designation for relatively unimportant items. As a basis for a
control scheme, each class ought to be handled in a different way. As you might have guessed,
more attention will usually be devoted to category A items, with less to B and still less further to C.

Many people are familiar with the so-called ’80/20 rule’, also known as the Pareto Analysis, which
can be put to use with the ABC analysis for inventory management. Under this rule, in terms of
consumption, 80 percent of the value of inventory would be held in about 20 per cent of the items.
By using this principle, categories B and C would make up the remaining 80 per cent of the items,
perhaps B with 30 per cent and C with 50 percent.

However, in terms of their consumption value B and C would make up on 20 per cent of the value
combined, with C the least, perhaps split at 15 per cent and 5 per cent respectively. The
percentages will vary based on a distributor’s unique inventory controlneeds.
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This means that ABC analysis conforms with the Pareto principle which states that items that
account for a large proportion of the overall value are small in number and that items with a low
overall value are high in number. It is also worth remembering that the proportions of the ABC
values, both in terms of their consumption value and their number of items, are not set in stone, so
long as they add up to 100 percent.

6.4.2.FUNCTIONS

Some of the major functions of marketing are as follows: 1. Selling 2. Buying and Assembling 3.

Transportation 4. Storage 5. Standardization and Grading 6. Financing 7. Risk Taking 8. Market

Information.

The marketing process performs certain activities as the goods and services move from producer to

consumer. All these activities or jobs are not performed by every firm.

6.4.3.Importance of marketing can be studied as follows:

(1) Marketing Helps in Transfer, Exchange and Movement of Goods:

Marketing is very helpful in transfer, exchange and movement of goods. Goods and services are

made available to customers through various intermediaries’ viz., wholesalers and retailers etc.

Marketing is helpful to both producers and consumers.

To the former, it tells about the specific needs and preferences of consumers and to the latter about
the products that manufacturers can offer. According to Prof. Haney Hansen “Marketing involves

the design of the products acceptable to the consumers and the conduct of those activities which

facilitate the transfer of ownership between seller and buyer.”

(2) Marketing Is Helpful In Raising And Maintaining The Standard Of Living Of The

Community:
Marketing is above all the giving of a standard of living to the community. Paul Mazur states,

“Marketing is the delivery of standard of living”. Professor Malcolm McNair has further added

that “Marketing is the creation and delivery of standard of living to the society”.

By making available the uninterrupted supply of goods and services to consumers at a reasonable

price, marketing has played an important role in raising and maintaining living standards of the
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community. Community comprises of three classes of people i.e., rich, middle and poor. Everything

which is used by these different classes of people is supplied by marketing.

In the modern times, with the emergence of latest marketing techniques even the poorer sections of

society have attained a reasonable level of living standard. This is basically due to large scale

production and lesser prices of commodities and services. Marketing has infact, revolutionised and

modernised the living standard of people in modern times.

(3) Marketing Creates Employment:

Marketing is complex mechanism involving many people in one form or the other. The major

marketing functions are buying, selling, financing, transport, warehousing, risk bearing and

standardisation, etc. In each such function different activities are performed by a large number of

individuals and bodies.

Thus, marketing gives employment to many people. It is estimated that about 40% of total

population is directly or indirectly dependent upon marketing. In the modern era of large scale

production and industrialisation, role of marketing has widened.

This enlarged role of marketing has created many employment opportunities for people. Converse,

Huegy and Mitchell have rightly pointed out that “In order to have continuous production, there
must be continuous marketing, only then employment can be sustained and high level of business

activity can be continued”.

(4) Marketing as a Source of Income and Revenue:

The performance of marketing function is all important, because it is the only way through which

the concern could generate revenue or income and bring in profits. Buskirk has pointed out that,

“Any activity connected with obtaining income is a marketing action. It is all too easy for the

accountant, engineer, etc., to operate under the broad assumption that the Company will realise

many dollars in total sales volume.

However, someone must actually go into the market place and obtain dollars from society in order

to sustain the activities of the company, because without these funds the organisation will perish.”
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Marketing does provide many opportunities to earn profits in the process of buying and selling the

goods, by creating time, place and possession utilities. This income and profit are reinvested in the

concern, thereby earning more profits in future. Marketing should be given the greatest

importance, since the very survival of the firm depends on the effectiveness of the

marketing function.

(5) Marketing Acts as a Basis for Making Decisions:

A businessman is confronted with many problems in the form of what, how, when, how much and

for whom to produce? In the past problems was less on account of local markets. There was a
direct link between producer and consumer.

In modern times marketing has become a very complex and tedious task. Marketing has emerged

as new specialised activity along with production.

As a result, producers are depending largely on the mechanism of marketing, to decide what to

produce and sell. With the help of marketing techniques a producer can regulate his production

accordingly.

(6) Marketing Acts as a Source of New Ideas:

The concept of marketing is a dynamic concept. It has changed altogether with the passage of time.

Such changes have far reaching effects on production and distribution. With the rapid change in
tastes and preference of people, marketing has to come up with the same.

Marketing as an instrument of measurement, gives scope for understanding this new demand

pattern and thereby produce and make available the goods accordingly.

(7) Marketing Is Helpful In Development Of An Economy:

Adam Smith has remarked that “nothing happens in our country until somebody sells something”.

Marketing is the kingpin that sets the economy revolving. The marketing organisation, more

scientifically organised, makes the economy strong and stable, the lesser the stress on the

marketing function, the weaker will be the economy.

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6.4.4.Physical distribution
Physical distribution is the set of activities concerned with efficient movement of finished goods
from the end of the production operation to the consumer. Physical distribution takes place within
numerous wholesaling and retailing distribution channels, and includes such important decision
areas as customer service, inventory control, materials handling, protective packaging, order
procession, transportation, warehouse site selection, and warehousing. Physical distribution is
part of a larger process called "distribution," which includes wholesale and retail marketing, as
well the physical movement of products.
Physical distribution activities have recently received increasing attention from business
managers, including small business owners. This is due in large part to the fact that these functions
often represent almost half of the total marketing costs of a product. In fact, research studies
indicate that physical distribution costs nationally amount to approximately 20 percent of the
country's total gross national product (GNP). These findings have led many small businesses to
expand their cost-cutting efforts beyond their historical focus on production to encompass physical
distribution activities. The importance of physical distribution is also based on its relevance to
customer satisfaction. By storing goods in convenient locations for shipment to wholesalers and
retailers, and by creating fast, reliable means of moving the goods, small business owners can help
assure continued success in a rapidly changing, competitive global market.
6.4.5.PROMOTION MIX
The Promotion Mix refers to the blend of several promotional tools used by the business to create,
maintain and increase the demand for goods and services.

The fourth element of the 4 P’s of Marketing Mix is the promotion; that focuses on creating the
awareness and persuading the customers to initiate the purchase. The several tools that facilitate
the promotion objective of a firm are collectively known as the Promotion Mix.

The Promotion Mix is the integration of Advertising, Personal Selling, Sales Promotion, Public
Relations and Direct Marketing. The marketers need to view the following questions in order to
have a balanced blend of these promotional tools.

 What is the most effective way to inform the customers?

 Which marketing methods to be used?
 To whom the promotion efforts be directed?
 What is the marketing budget? How is it to be allocated to the promotional tools?

Elements of Promotion Mix

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1. Advertising: The advertising is any paid form of non-personal presentation and promotion of
goods and services by the identified sponsor in the exchange of a fee. Through advertising, the
marketer tries to build a pull strategy; wherein the customer is instigated to try the product at least
once.The complete information along with the attractive graphics of the product or service can be
shown to the customers that grab their attention and influences the purchase decision.
2. Personal Selling: This is one of the traditional forms of promotional tool wherein the salesman
interacts with the customer directly by visiting them. It is a face to face interaction between the
company representative and the customer with the objective to influence the customer to purchase
the product or services.
3. Sales Promotion: The sales promotion is the short term incentives given to the customers to have
an increased sale for a given period.Generally, the sales promotion schemes are floated in the
market at the time of festivals or the end of the season. Discounts, Coupons, Payback offers,
Freebies, etc. are some of the sales promotion schemes.With the sales promotion, the company
focuses on the increased short-term profits, by attracting both the existing and the new customers.
4. Public Relations: The marketers try to build a favourable image in the market by creating
relations with the general public. The companies carry out several public relations campaigns with
the objective to have a support of all the people associated with it either directly or indirectly.The
public comprises of the customers, employees, suppliers, distributors, shareholders, government
and the society as a whole. The publicity is one of the form of public relations that the company
may use with the intention to bring newsworthy information to the public.

E.g. Large Corporates such as Dabur, L&T, Tata Consultancy, Bharti Enterprises,
Services, Unitech and PSU’s such as Indian Oil, GAIL, and NTPC have joined hands with
Government to clean up their surroundings, build toilets and support the swachh Bharat Mission.

5. Direct Marketing: With the intent of technology, companies reach customers directly without any
intermediaries or any paid medium.The e-mails, text messages, Fax, are some of the tools of direct
marketing. The companies can send emails and messages to the customers if they need to be
informed about the new offerings or the sales promotion schemes.

E.g. The Shopperstop send SMS to its members informing about the season end sales and extra
benefits to the golden card holders.
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Thus, the companies can use any tool of the promotion mix depending on the nature of a product as
well as the overall objective of the firm.

6.4.6.SALES PROMOTION

Sales promotion is a type of Pull marketing technique. If you have a product which is new in the
market or which is not receiving a lot of attention, then you can promote this product to customers
via sales promotions. You can use various techniques like giving discounts on the product, offering
1 + 1 free schemes, etc etc.

When a brand wants to increase the sales of its products, it uses Sales promotion. The brand can
increase the sales by attracting new customers to their products or by retaining the old customers
by various means. The company can also motivate the dealers and distributors of their channel to
perform better for their brand, and to get their stock moving.

There are two types of Sales promotions

a) Consumer sales promotions

Any sales promotion activity that you do keeping the end consumer in mind is known as consumer
sales promotions. Example – if an E-commerce website gives 10% discount on its products, then it
wants the consumers to make the best of this deal. This is a consumer focused promotional activity
and hence can be called as consumer sales promotions.

The objective of Consumer sales promotions might be various. A consumer might be asked to test a
sample of a completely new perfume in the market and rate it. An existing customer might be asked
to use a Scratch card so that he receives a gift.

At the end, the result should be an action from the consumer. Either the consumer
should purchase the product right away, or he should come to know about the product so
that further awareness is created for the brand.

b) Trade Sales promotions

If your promotional activities are focused on Dealers, distributors or agents, then it is known as
trade promotions. There is a lot of competition in any field. And in channel sales, to get the
products moving and to motivate the dealer to perform better, trade discounts are given.

Example – You are a dealer for Televisions. Now Sony comes and tells you, you will be given 5%
discount if you cross a sale of 100 televisions. Naturally, you will be very motivated because 5% in
television sales is huge. Plus selling Sony TV’s is easy because it is already a brand. Thus, you
divert all potential customers to Sony Televisions so that you can achieve the target.

Similarly, there are other types of trade sales promotions which can be used to motivate the dealer
and distributor. More such techniques of sales promotions are discussed below.
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As the noise of competitors rises, you will find more and more companies using sales promotions
techniques. The advantage of sales promotion is that they are not too expensive for the company
when compared with ATL advertising mediums like Television or newspaper. Hence, even small
businesses use it quite effectively.

6.5.Finance management

Finance management is the management of all the financial assets of a company in order to
increase the company’s revenue and hence results in better and more propagated results. The main
idea is to use all the financial resources of the organization in the best possible way without
compromising the quality and functional dependencies resulting in the best approach that can be
followed.
6.5.1 Importance of Financial Management Points: There is a huge importance of financial
management in business planning and controlling for your financial stability and to keep you
away from bankruptcy. Here we will see what is the importance of financial management in
points mentioned below:
1. Financial Planning: Financial management its importance is financial planning. It decides
each financial necessity associated with business concern. Also financial planning associates
need to take prompts and correct measures instead of worries in later stage of financial
management life-cycle of a company. Financial planning looks a crucial area associated with
business concern. Typically, all the credit for business success is mostly depends on the financial
planning of a company.
2. Safeguarding / Protecting Funds: Importance of financial management include protecting
finance towards achieving business goals. One has to measure the areas where funds are
required and allocate it well in all the areas for smooth functioning of business. Overspending
on one project and impact other business operations as they may lack finance in many cases. It
is crucial to safeguard funds and invest wisely.
3. Allocation of Funds: Importance of financial management in an organization is to allocate
funds appropriately. When making proper use of allocated finance to assets enhance the
operational proficiency for the business concern. Whenever the finance specialists makes use of
the funds appropriately and allocate it wisely, they can reduce business expense and increase
capital estimated for a company.
4. Investment Opportunities: As a person, if you are good at managing your finance and saving
then you get opportunities to explorer investment. Investment opportunities will assist you in
creating wealth so that you can enjoy your retirement period. There are various investment
opportunities you can explorer like investing in stocks, gold, mutual funds, property, lands, etc.
You can study about investing in detail to know the risk and return of investment. Depending
upon your risk ability you can then choose the appropriate investment options.
5. Financial Decision: Its importance of financial management points is financial decision.
Once financial choice according to the business concern has made, it cannot be rewind. As
finance once spend will not be repaid again for any wrong decision made. Financial selection
might impact the whole business operation. Since it has an instant relationship with all the
departments of a company. For example: production, advertising, rents, salary to human
resources and so on.
6. Economic Growth and Stability: Proper financial planning will ensure your economic growth.
Gradually you will expand your wealth creation which will help you to grow financially.
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Important thing in someone’s life is financially stability. Only way to ensure your financial
stability is through economic growth and only option to ensure the same is through financial
management.
7. Improve Standard of Living: Once you have learned and taken good knowledge on financial
management, this will not only provide you financial stability and peace of mind but also it will
improve your standard of living. Your economic growth will transform into better standard of
living.
8. Valuation of a Company: Importance of financial management in an organization in the area
of enlarging the variety of speculators and the business concern. Extreme point concerning of
any business is that they will achieve maximum gain with greater efficiency. It may be related to
increasing production or expanding business to other countries. A great management and
financial specialists can assist in improving valuation of any company
9. Tax Planning: Your financial planning should also include your tax planning. When failing
to plan your taxes appropriately, it will lead you spend more out of your pocket. For example: If
you can analyze that current fiscal year you will be spending less on taxes but in next year you
are more likely to pay heavy taxes then you should manage your budget and saving accordingly.
This will help you towards economic growth else you may run out of cash and may lead in
disturbance in your investment decisions.
10. Capital Reserves: Money have always been imaginable and possible really when the business
earning rises to higher levels and expansion arises. Here is an importance of financial
management in success of business by ways of expanding as well as creating capital reserves in
the book of companies accounts.

6.5.2.INCOME TAX
An income tax is a tax that governments impose on income generated by businesses and
individuals within their jurisdiction. By law, taxpayers must file anincome tax return annually to
determine their tax

6.5.3.SALES TAX

The indirect tax imposed on selling and purchasing of goods within India is referred to as Sales
Tax. It is an additional amount paid over and above the base value of the product being purchased.
This tax, usually imposed on the seller by the government, enables the seller to recover the tax from
the purchaser. It is usually charged from buyers at the point of purchase or the exchange of some
specific goods and is chargeable at a certain percentage of the product value.

Sales Tax is levied by the Central Government as well as State Governments. It is decided by the
Central Government basis its tax policies. State Sales Tax laws vary between states.

6.5.4.EXCISE TAX

An excise or excise tax (sometimes called anexcise duty) is a type of tax charged on goods
produced within the country (as opposed to customsduties, charged on goods from outside the
country). It is a tax on the production or sale of a good. Thistax is now known as the Central Value
Added Tax
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6.5.5.CUSTOM DUTY

‘Customs Duty’ refers to the tax imposed on the goods when they are transported across the
international borders. The objective behind levying customs duty is to safeguard each nation’s
economy, jobs, environment, residents, etc., by regulating the movement of goods, especially
prohibited and restrictive goods, in and out of any country.

6.5.6.VAT

A value added tax (VAT) is a consumption tax added to a product's sales price. It represents a tax
on the "value added" to the product throughout its production process.

QUESTIONS:

MULTIPLE CHOICE QUESTIONS:

1)which of following is tax:

(a) income (b) sales

(c) vat (d)wireless

2) which of following is a part of management:

(a)HRM (b) FINANCIAL

(c) MATERIAL (d) ALL OF THE ABOVE

SHORT ANSWER TYPES QUESTIONS:

1) What is management?

2) EOQ stands for ……………..

3) What do you mean by inventory?

4) What is function of financial management?

5) Write three types management.

LONG ANSWER TYPES QUESTIONS:

1) Explain in detail human resource management..

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2) Explain in detail taxes.

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