(i) Statutory License: Entrepreneur has to obtain Municipal License from the authority. concerned. Then the Entrepreneur has to register the unit with the Central and Sales Tax Department.
(ii) Power Connection: Entrepreneur has to make application to Assistant Divisional Engineer of State Electricity Board for power connection after paying Security Deposit and fulfilling the official formalities prescribed.

There are 3 taxes applicable under this system.
(i) CGST : Collected by the Central Government on an intra-state sale (Eg : transaction happening in TamilNadu)
(ii) SGST Collected by the State Government on an intra-state sale (Eg : transaction happening within TamilNadu)
(iii) IGST : Collected by the Central Government for inter-state sale (Eg : Punjab to Tamil Nadu)

(i) The Indian Contract Act, 1982 was passed to bind the people on the promise made in the contract.
(ii) The Sale of Goods Act, 1930: This Act protects consumers against sellers not complying with expressed and implied warranties in the sale contract.
(iii) The Agricultural Products Grading and Marketing Act, 1937 ensures the supply of agricultural commodities at high quality.

(i) Mental arithmetic test : It tests the candidate's basic numerical ability like addition, subtraction, multiplication, division and fraction. It test the speed of doing calculation.
(ii) Vocabulary test : The test measures candidate's ability to recognize the relationship among the ideas, think methodically and fluency in English language.
(iii) Number sequence test: This measures the candidate's ability to find a logic in a series or pattern. Under this test, candidates have to find out missing number in a sequence to determine the pattern.

Existing goods are those owned or possessed by the seller at the time of contract of sale. Goods possessed even refer to sale by agents or by pledgers. The existing goods may be either :
(i) Specific Goods : Specific goods denote goods identified and agreed upon at the time of contract of sale.
(ii) Ascertained Goods: The term 'ascertained goods' is also used as similar in meaning to specific goods.
(iii) Unascertained or Generic Goods: These are goods which are not identified and agreed upon at the time of contract of sale.

The following are the objectives of E-Marketing:
(i) Expansion of market share
(ii) Reduction of distribution and promotional expenses
(iii) Achieving higher brand awareness.
(iv) Strengthening data - base

National stock market system was advocated by the Higher powered group on the establishment of New stock Exchanges headed by Shri. M.J. Pherwani (popularly known as pherwani committee).
At present the National stock Market in India comprises the following:
(i) National Stock Exchanges of India Limited (NSE)
(ii) Stock Holding Corporation of India Limited (SHCIL)
(iii) National clearing and Depository System (NCDS)
(iv) Securities Trading Corporation of India. (STCI)

(i) The financial market provides financial assistance to individuals, agricultural sectors, industrial sectors, service sectors, financial institutions like banks, insurance sectors, provident funds and the government as a whole.
(ii) With the help of the financial market all the above stated individuals, institutions and the Government can get their required funds in time.
(iii) Through the financial market the institutions get their short term as well as long term financial assistance.
(iv) It leads to the overall economic development.

(i) The Span ofManagement has two implications:
1. Influences the complexities of the individual manager's job
2. Determine the shape or configuration of the Organization
(ii) The span of management is related to the horizontal levels of the organization structure, There is a wide and a narrow span  of management.
(iii) With the wider span, there will be lesshierarchical levels,and thus, the organizational structure would be flatter.
(iv) Whereas,with the narrow span, the hierarchical levels increases,hence the organizational structure would be tall.
 

Entrepreneur requires two types of finance namely long term and short term. While long-term requirements are needed for acquiring fixed assets, short-term requirement are meant for meeting working capital needs. Entrepreneur has to bring in promoters contribution (seed capital) prescribed by financing agencies.

Initially, organisational objectives are framed by the top level employees of an organisation. Then it moves downwards

External environment refers to those factors outside the business These factors by and large are beyond the control of  a business and hence uncontrollable.
e.g economic, political and socio-cultural factors.

The apprentice or trainee learns the job knowledge and skills from the trainer or superior or senior worker. Generally the apprenticeship training is given to the technical cader like that Mechanics, Electricians, Craftsmen, Welders, Fitter, etc

Following companies are required to appoint KMP.
(i) Every listed company.
(ii) Every public company (Having paid up share capital of ₹ 10 crore or more).

 

A company needs funds for extension and development purpose without increasing its share capital, it can borrow from the general public by issuing certificates for a fixed period of time and at a fixed rate of interest. Such a loan certificate is called a debenture.

Recruitment is the process of finding suitable candidates for the various posts in an organisation.It is a process of attracting potential people to apply for a job in an organisation.

Speculators are classified in to four types : 
(i) Bull
(ii) Bear
(iii) Stage and
(iv) Lame duck
 

A method of trading whereby merchants bid against one another and where the securities are sold to the highest bidder is known as auctioning.

(i) Innovation 
(ii) Representation 
(iii) Decision-making 
(iv) Communication

The goals are achieved with the help of motivation. Motivation includes increasing the speed of performance of a work and developing a willingness on the part of the workers.

A Company secretary is a high-level officer. He enjoys certain rights and power as per the contract made with the company, which are as follows:
(i) Supervision and Control: As a head of the office, a company secretary has the rights to supervise, direct and control all office activities of subordinate offices.
(ii) Singing authority: Being a principal officer, a company secretary can sign. contracts, proceedings of the company meeting, files and documents on behalf of the company.
(iii) Exercising power: He has the right to exercise powers as granted by a board of directors.
(iv) Issuing testimonial: A company secretary can issue testimonials to employees on behalf of the company.
(v) Claiming salary and damages: As per the contract, he has the right to claim his salary and other allowances. He can also take legal action against the company if there is any breach of contract.
(vi) Preferential creditor: During winding up of a company, the company secretary can claim his legal dues on a preferential basis.
(vii) Attending a meeting: He has the right to be physically present in the meetings of the shareholders and board of directors.

Successful Entrepreneurs in Tamilnadu:
(i) G. Chandramogan Sold his father's agricultural land to mobilize funds for. starting ice cream enterprise in Tamilnadu known as 'Arun Ice-cream' which has emerged as one of the top-notch dairy companies in India.
(ii) Mr. T.V Sundarm Iyengar who started his career as a lawyer shifted his job to Indian railways in the later years and then further shifted to bank Then he started bus service company on his own A in Madurai before nationalization of transport service in Tamilnadu. Now the enterprise has diversified into producing a variety of automobile products under the banner TVS group.
(iii) Mr. Murugappa ChettIar started his career as an apprentice in Burma when it was under the British Colonisation. He returned to India and started his business in diversified fields. Murugappa has transformed his family business into a corporate enterprise.
(iv) Mr. K.R. Nagarajan made a foray into the textile industry, Tirupur was hailed as the 'dollar city' and an undisputed business center. Mr. K .R. Nagarajan chose the road less traveled. His focus was not on the hefty bottom line but on progress and growth for the poor village weaver. Eighteen years of networking with dealers across the length and breadth of South India have ensured Ramraj's leadership in this part of the world.
(v) Mr. N. Natarajan began his entrepreneurial journey with a fruit shop in Coimbatore that he started with his brother in 1965. 'Kovai Pazhamudir Nilayam, a Coimbatore based 40 outlets strong fruit and vegetable retail chain that achieved a combined turnover of Rs.220 crore this year. The retail chain now has 56 outlets spread all over Tamil Nadu and Pondicherry, of which the other brothers operate between them 9 outlets located in different parts of Tamil Nadu.

(i) Employee referral: The existing employees of the organisation may recommend some of their relatives or known people who will be suitable for the existing vacancies.
(ii) Government/Public Employment Exchanges: These are exchanges established by Government which facilitates recruitment throughout the country.
(iii) Private Employment Agencies: These are similar to Public employment exchanges except that the ownership is the hands of private parties.
(iv) Employment consultancies: These types of firms facilitate recruitment on behalf of client companies at cost.
(v) Professional associations: Organisations seeking applicants of high calibre and repute with technical knowledge approach professional associations like Institute of chartered accountants, The Indian Medial association and All India Management Association etc.
(vi) Deputation: A person who is already an employee of an organisation can be deputed for a specific job for a specified period as a short term solutions.
(vii) Labour contractors: Organisations recruit unskilled and manual labourers through these contractors.

Right of an Unpaid Seller against the Buyer Personally
(i) Suit for price: Where the ownership in the goods has passed to the buyer and the buyer refuses to pay for the goods, the seller can file a case against the buyer for the price.
(ii) Suit for Damage for Non-acceptance: Where the buyer wrongfully refuses to accept the goods, the seller can sue him for damages for non-acceptance of the goods.
(iii) Suit for Cancellation of the contract before the Due Date:  Where the buyer cancels the contract before the date of delivery, the seller may either treat the contract as continuing or wait till the due date or he can file a case against buyer immediately.
(iv) Suit for Interest: Where there is a specific agreement between buyer and seller regarding charging interest on the price the seller can recover interest from the buyer from the due date of the contract till the date of payment of purchase price.

Tata has always been values-driven. These values continue to direct the growth and business of Tata companies. The five core Tata values underpinning the way we do business are:
(i) Integrity: We will be fair, honest, transparent and ethical in our conduct; everything we do must stand the test of public scrutiny.
(ii) Excellence: We will be passionate about achieving the highest standards of quality, always promoting meritocracy.
(iii) Unity: We will invest in our people and partners, enable continuous learning, and build caring and collaborative relationships based on trust and mutual respect.
(iv) Resonsibility : We will integrate environmental and social principles in our businesses, ensuring that what comes from the people goes back to the people many times over.
(v) Pioneering: We will be bold and agile, courageously taking on challenges, using deep customer insight to develop innovative solutions.
(vi) Mission: To improve the quality of life of the communities we serve globally through long-term stakeholder value creation based on Leadership with Trust.

On the basis of geographical area can be classified into (a) Family market, (b) Local market, (c) National market, (d) International market or World market.
(a) Family market : When exchange of goods or services are confined within a family or close members of the family, such a market can be called as family market.
(b) Local market: Participation of both the buyers and sellers belonging to a local area or areas, may be a town or village, is called as local market. 
(c) National market : Certain type of commodities has demand throughout the country. Hence it is called as a national market.
(d) International market or World market: World or International market is one where the buyers and sellers of goods are from different countries i.e., involvement of buyers and sellers beyond the boundaries of a nation.

Classification of Entrepreneur.
i) Based on Function
a. Innovation
b. Imitative
c. Fabian
d. Drone
ii) Based on Type of Business
a. Business
b. Trading
c. Industrial
d. Corporate
e. Agricultural
f. Retail H. Service
ii) Based on Technology
a. Technical
b. Non-Technical
c. Professional
iv) Based on Motivation
a. Pure
b. Induced
c. Motivated
d. Sportaneous
v) Based on development
a. First Generation
b. Modern
c. Classical
vi) Based on Area
a. Urban
b. Rural
vii) Based on Ownership
a. Private
b. State
c. Joint

The first priority of a consumer organisation is to accelerate consumer awareness towards their rights. To accomplish this task the following efforts are made:
(i) To publish brochures, journals and monographs.
(ii) To arrange conferences, seminars and workshops.
(iii) To educate consumers to help themselves.
(iv) To provide special education to women about consumerism. 

Advantages of E-tailing :
i) Customers can shop from the compact of their homes at any time of the day instead of visiting a store during specific hours.
ii) It reduces advertising and marketing expenses as customers can find the stores through search engines or social media.
iii) Companies can more products faster and reach more customers Online than with traditional physical locations.
Disadvantages:
(i) Creating and maintaining an E-tailing website can be expensive.
(ii) Infra structure costs can be substantial if ware houses and distribution centers need to be built to store and ship products.
(iii) Consumers may not trust E-tailing that is not well established or does not have a physical location near them.
(iv) E-tailing does not offer experience shopping whereby consumers can hold, smell, feel or by product and services before purchasing them.

(1) Benefits to the organisation:
(i) It improves the skill of employees and enhances productivity and profitability of the entity.
(ii) It reduces wastages of materials and idle time.
(2) Benefits to the employees:
(i) It improves the employees productivity
(ii) It enhances the morale of the employee.
(3) Benefits to the customer:
(i) Customers get better quality of product service.
(ii) Customers get innovative products or value added or feature rich products

1. In order to accomplish personal and organisational objectives the unique asset called human resource.
2. The branch of management that deals with managing human resource is known as Human Resource Management.
3. In an organisation the human resource are the employees who are inevitable for the survival and success of the enterprise.
4. It incudes the overall progress of the employee and the enterprise

The functions of SEBI are as follows:
(i) Safeguarding the interests of investors by means of adequate education and guidance.
(ii) Regulating and controlling the business on stock markets.
(iii) Conduct inspection and inquiries of stock exchanges, intermediaries and self-regulating organisations and to take appropriate measures wherever required.
(iv) Barring insider trading in securities.
(v) Prohibiting deceptive and unfair methods used by financial intermediaries operating in securities markets.
(vi) SEBI Issues Guidelines and instructions to businesses concerning capital issues.

(i) Venture Fund Institutions :
(a) Venture capital financing is a form of equity financing designed especially for funding new and innovative project ideas.
(b) Many specialised financial institutions have promoted their own venture capital funds.
(c) They include Risk Capital Foundation of IFCI, Venture capital of IDBI, SIDBI,TDICI and others.
(ii) Mutual Funds :
(a) Financial institutions that provide facilities for channeling savings of smallinvestors into a venues of productive investments are called "Mutual Funds".
(b) Specialized financial institutions like LIC,UT,etc., beside Commercial banks such as SBI, and Canara Bank are carrying out the business of mutual funds.
(iii) Factoring Institutions :
(a) "Factoring" is an arrangement whereby a financial institution provides financial accommodation on the basis ofassignment/ sale of account receivables.
(b) Some of the factoring institutions operating in India are SBI Factors and Commercial Services Private Limited, a subsidiary of  State Bank of India and Canbank Factors Limited, a subsidiary of Canara Bank.
(iv) Over the Counter Exchange of India (0TCEI) :
(a) The OTCEI was set up by a premier financial institution to allow the trading of securities across the electronic counters throughout the country.
(b) It addresses some specific problems of both investors and medium-size companies.
(v) National Stock Exchange of India Limited :
(a) NSEI was established in 1992 to function as a model stock exchange.
(b) The Exchange aims at providing the advantage of nation-wide electronic screen based "scripless" and "loorless" trading system in securities.

 

(i) The main disadvantage of MBE is, only managers have the power over really important decisions, which can be demotivating for employees at a lower level
(ii) Furthermore, it takes time to pass the issues to managers.
(iii) Managing employees who deviate from the normal procedures.
(iv) Because of compliance failures are considered difficult to manage and typically find themselves with limited job duties and ultimately dismissed / terminated.