mehak wants to start a textile unit near Gurgaon. discuss the commercial function which she will require to plan and perform for the same
Answers
Solution: Being and entrepreneur, Mehak need to take necessary decisions on several aspects.
The very foremost thing is the risk factor which has to be analysed in order to make specific strategies.
Growth prospects should also be focused so that optimum profits are earned throughout the business.
She should also focus on innovation and employment opportunities as well.
Answer:
Production-the activities of production are independent of the size of the undertaking.
Finance- finance is the life blood for all businesses. All activities are performed on the basis of availability of financial resources. The need for money is continuous.
Personnel- this function is concerned with employment, development and compensation for the personnel. The provisions of working conditions and welfare measures to maintain a good work force in the organisation.
Accounting- It is defined as a systematic record of all business transactions and prepare necessary accounts required in business the financial positions of the enterprise.
Marketing- It is primarily concerned with the movements of goods and services from the producer to the ultimate consumer.