G H RAISONI COLLEGE OF ENGINEERING &

MANAGEMENT, WAGHOLI, PUNE

Department Of Data Science

Price and output determination under

perfect competition.

Perfect competition refers to a market situation where there are a large

number of buyers and sellers dealing in homogenous products.

In perfect competition, sellers and buyers are fully aware about the
current market price of a product. Therefore, none of them sell or buy at
a higher rate. As a result, the same price prevails in the market under
perfect competition.

Under perfect competition, the buyers and sellers cannot influence the
market price by increasing or decreasing their purchases or output,
respectively. The market price of products in perfect competition is
determined by the industry. This implies that in perfect competition, the
market price of products is determined by taking into account two
market forces, namely market demand and market supply.

Figure-1 represents the Figure-2 shows the Figure-3 shows the

demand curve under supply curve under equilibrium under
perfect competition: perfect competition: perfect competition:

Guided By - Deshpande Sir M15 Anuj Jmadade

 G H RAISONI COLLEGE OF ENGINEERING &
MANAGEMENT, WAGHOLI, PUNE
Department Of Data Science

Phases of Business Cycle with brief

description of each phase

What is the business cycle?

The business cycle is the increases and decreases in the economy over time. Factors such as
trade, interest rates, investments and production costs can all influence the business cycle.
Most financial professionals and organizations measure the business cycle primarily by the
increases and decreases in the gross domestic product (GDP) and the influences of trade and
production costs. Over time, the entire business cycle represents the low and high points in
the economy.

four phases of the business cycle

Expansion
Expansion refers to the increase in
economic factors such as income,
supply and demand. During this stage,
there is an increase in consumer
confidence. As a result, people spend
more money and pay their debts more
comfortably. Many companies grow
and thrive in this stage.
Peak
The peak phase follows the expansion
in a business cycle. The peak of the
business cycle is the instance right
before key economic indicators start to
fall. At this time, prices are at their
highest, and the economy can
"overheat," meaning businesses can no
longer satisfy consumer demands.

Contraction
The contraction phase follows the peak
stage. The business cycle's contraction
stage results from businesses
decreasing and regulating from the
previous peak. During this stage,
business owners focus on finding ways
to improve their financial situation.
Trough
The trough phase follows the
contraction phase and ends before
another expansion phase. During this
stage, supply and demand decline
significantly, and employees do not have
nearly as many materials. It's common
for companies to lay off employees or
close in the trough phase.

Guided By - Deshpande Sir M15 Anuj Jmadade

 G H RAISONI COLLEGE OF ENGINEERING &
MANAGEMENT, WAGHOLI, PUNE
Department Of Data Science

Principles of Management

Planning Organizing Staffing

5 Principles of
Management

Unity of Command Controlling

Unity of Command

This principle states that that should be a clear chain of command in the
organization. The employees should be clear on whose instructions to follow.
According to Fayol, an employee should receive orders from only one manager. If
an employee works under two or more managers, then authority, discipline, and
stability are threatened. Moreover, this will cause a breakdown in management
structure and cause employees to burn out

Example: If in a company, an employee has been given a task to finish within 3 to 4 hours as
ordered by their immediate superior. But the head of the department asks them to deliver
the task within 1 hour. In this case, no unity of command can create confusion and pressure
in the workplace.

Guided By - Deshpande Sir M15 Anuj Jmadade

 G H RAISONI COLLEGE OF ENGINEERING &
MANAGEMENT, WAGHOLI, PUNE
Department Of Data Science

Promotion Mix

Promotion Mix Definition

Promotion mix refers to the combination of

promotional tools or elements that a company
uses to communicate and persuade its target
audience about the benefits of its products or
services. It involves a strategic blend of various
promotional methods to achieve marketing
objectives, enhance brand awareness, and
stimulate customer demand.

Advertising:
Definition: Paid, non-personal communication through
various media to promote a product, service, or idea.
Example: Television commercials, print advertisements,
online banners.
Personal Selling:
Definition: Direct, interpersonal communication
between a sales representative and a potential buyer to
persuade them to make a purchase.
Example: Sales presentations, one-on-one meetings.
Sales Promotion:
Definition: Short-term incentives or activities designed
to encourage the purchase of a product or service.
Example: Coupons, discounts, contests, free samples.
Public Relations (PR):
Definition: Building and maintaining positive
relationships between an organization and its public,
including customers, investors, and the general public.
Example: Press releases, media events, sponsorships.
Direct Marketing:
Definition: Communicating directly with consumers to
generate a response or transaction, often using
targeted and personalized methods.
Example: Email marketing, direct mail, telemarketing.
Digital/Online Marketing:
Definition: Utilizing online channels and platforms to
promote products or services, including social media,
content marketing, and search engine optimization
(SEO).
Example: Social media campaigns, content creation,
Google AdWords.
Personal Appearance and Endorsements:
Definition: Using personalities, celebrities, or experts to
endorse or represent a product or brand.
Example: Celebrity endorsements, influencer marketing.
Point of Purchase (POP) Displays:
Definition: Visual and promotional materials displayed at
the point of sale to attract attention and encourage
impulse buying.
Example: In-store displays, product packaging.
Trade Shows and Exhibitions:
Definition: Events where companies showcase their
products or services to potential customers, partners,
and industry professionals.
Example: Industry conferences, trade fairs, exhibitions.
Word of Mouth:
Definition: Informal communication between individuals
about a product, service, or brand, often based on
personal experiences.

Guided By - Deshpande Sir M15 Anuj Jmadade

 G H RAISONI COLLEGE OF ENGINEERING &
MANAGEMENT, WAGHOLI, PUNE
Department Of Data Science

Sources of Financing

Bootstrapping
Bootstrapping in the startup context refers to the process of launching and growing a business
without external help or capital. It involves starting from the ground up, using personal savings
and/or existing resources instead of relying on investors or loans. Bootstrapping often involves
creative problem solving and finding creative ways to get things done without spending a lot of
money.

KEY TAKEAWAYS
Bootstrapping is founding and running a company using only personal finances or operating
revenue.
This form of financing allows the entrepreneur to maintain more control, but it also can
increase financial strain.
Owners can bootstrap by cutting costs, personally financing operations, cutting back
operations, or looking for other creative short-term financing solutions.
The term also refers to a method of building the yield curve for certain bonds.
GoPro, Facebook, and Amazon are examples of companies with humble beginnings and
bootstrapped starts.

Guided By - Deshpande Sir M15 Anuj Jmadade