Mehak wants to start a textile unit near Gurgaon. Discuss the commercial function which will require to plan and perform for the same.
Answers
The commercial functions which Mehak will require to plan and perform to start a textile unit near Gurgaon are as follows :
(1) Production :
It refers to the designing of goods and services or it is a process of transforming raw material into something useful. It consists of manufacturing ancillary and counselling activities.
(2) Finance :
The second function that Mehak has to perform is to arrange finance for the enterprise because any enterprise can go a long way only with appropriate availability of finance or money. So she has to look for various opportunities to arrange for finance.
(3) Marketing :
It plays a major role in an enterprise as through this process goods and services are provided to the ultimate consumer for direct satisfaction of wants.
(4) Personnel :
This is the function concerned with employment ,development and compensation for the Personnel and also the provision of working conditions and welfare measures.
(5) Accounting :
Accounting helps Mehak to record and analyse the financial position of her business. to get a clear picture of a financial status she has to make the balance sheet , income sheet etc.of her business .
Hope this answer will help you….
Here are some more questions from this chapter :
What is the need of entrepreneurship in an economy?
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Describe entrepreneurial functions of an entrepreneur.
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Explanation:
Solution: Being and entrepreneur, Mehak need to take necessary decisions on several aspects.