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.

(a) To the Society:
(i) Marketing is a connecting link between the consumer and the producer.
(ii) Marketing helps in increasing the living standard of people.
(ii) Marketing helps to increase the nation's income.
(iv) Marketing process increases employment opportunities.
(v) Marketing creates modern cultivators.
(vi) Marketing removes the imbalances of supply by transferring the surplus to deficit areas, through better transport facilities.
(vii) Marketing helps to maintain economic stability and rapid development in underdeveloped or developing countries.
(viii) Marketing includes all activities in the creation of utilities- form, place, time and possession.
(ix) A reduction in the cost of marketing is a direct benefit to society.
(x) Marketing adds value of goods by changing their ownership and by changing their time and place of consumption.
(b) To the individual firms:
(i) Marketing generates revenue to firms.
(iii) Marketing section of a firm is the source of information to the top management for taking overall decisions on production.
(iii) Marketing and innovations are the two basic functions of all businesses, the world is dynamic.
(iv) Marketing facilities the development of business and creates employment opportunities for people.

On the basis of Economic the market can be classified into (a) Perfect market (b) Imperfect market
(a). Perfect market: A market is said to be a perfect
market, if it satisfies the following conditions:
(i) Large number of buyers and sellers.
(ii) Prices should be uniform throughout the market.
(iii) Buyers and sellers have a perfect knowledge of market.
(iv) Goods can be moved from one place to another without restrictions.
(v) The goods are identical or homogeneous. It should be remembered that such types of markets are rarely found.
(b). Imperfect market: A market is said to be imperfect when:
(i) Products are similar but not identical
(ii) Prices are not uniform
(iii) There is lack of communication
(iv) There are restrictions on the movement of goods.

S.No	Basis	On the Job training	Off the Job training
1l.	Meaning	The employee learns the job in the actual work environment	Off the job training involves the training of employees outside the actual work location
2.	Cost	It is cheapest to carryout	It requires expenses like separate training rooms,specialist, resources like projects.
3.	Location	At the work place	Away from the work place
4.	Suitable for	Generally imparted in case of manufacturing for production related iobs	Mostly imparted for managerial and non-production related jobs.
5	Approach	Practical approach	Theoretical approach
6.	Principle	Learning by performing	Learning by acquiring knowledge

The following principles are followed at the time of placement of an employee.
(i) Job First Man next :
Man should be placed on the job according to the requirements of the job.
There is no compromise on the requirements or qualifications of the man with respect to job. "Job First, Man next" should be the principles of management.
(ii) Job offer :
The job should be offered to the man based on his qualification.
(iii)  Terms and conditions :
The employee should be made conversant with the conditions and culture prevailing in the organisation and all those things relating to the job.
(iv) Aware about penalties :
The employee should also be made aware of the penalties if he / she commits a wrong or lapse.
(v) Loyality and Co-operation :
When placing a new recruit on the job, an effort should be made to develop a sense of loyalty and co-operation in him, so that he/she may realise his/her responsibilities better towards the job and the organisation.

(i) It increases chances new talents and skjlls.
(ii) It would create a healthy competition among the employees.
(iii) The new employees wotild be existing employee of some other organisation.It will be in ideas of other industries.
(iv) It would avoid the problem between the existing employees.
(v) This increased chance provides better availability of skilled and qualified employee.
(vi) One common things they look for is a well experienced and qualified candidate.
(vii) The recruitment is done in a fair manner equally for all candidates where internal politics are avoided.

The characteristics of Human Resource :
(i) Human resource is the only factor of production that lives.
(ii) Human resource created all other resources.
(iii) It is only the labour of employees that is hired and not the employee himself.
(iv) Human resource exhibits innovation and creativity.
(v) Human resource alone can think, act analyse and interpret.
(vi) Human resources are emotional beings.

(i) The lack of paperwork enables quicker transactions and higher efficiency in trading
(ii) The risks pertaining to physical certificates like loss, theft, forgery and damage are eliminated completely with a DEMAT account.
(iii) Trading has become more convenient as one can trade through computers at any location, without the need of visiting a broker.
(iv) Certain banks also permit holding of both equity and debt securities in a single account.
(v) Banks also provide dedicated and trained customer care officers to assist through all the procedures.
(vi) One can also choose to take a loan against securities which are held in a DEMAT account by offering it as a collateral to the lender.

The stock exchanges rendered various services to the community, company and investors. They are as follows
(i) Benefits to the community :
(a) Economic development : It accelerates the economic development by ensuring steady flow of savings into productive purposes.
(b) Fund ralsmg platform : It enables the well managed, profit making companies to raise limitless funds by fresh issued of shares. from time to time.
(c) Tools to divert resources : Scarce resources are thus diverted to efficiently run enterprises for better utilisation.
(d) Capital Formation It encourages capital formation.
(e) Fund Raiser for Government
(a) It enables Government to raise funds for undertaking projects through sale of securities on the stock exchange.
(b) Thus stock exchange serves as a platform for raising public debt.
(ii) Benefit to the company:
(a) Enhances goodwill or reputation : Companies who shares are quoted on a stock exchange enjoy greater goodwill and credit standing.
(b) Wide market : There is a wide and ready market for such securities.
(c) Raises huge funds: Stock exchange can raise huge funds easily by issue of shares and debentures.
(d) Increases bargaining strength
Companies whose shares rise in the stock exchange command higher bargaining power in the event of further expansion, merger or amalgamation.
(iii) Benefit to investors:
(a) Liquidity: Stock exchange helps an investors to convert his shares into cash quickly and thus increases the liquidity of his investments.
(i) Adding collateral value of security
The fact that a security is dealt on a stock exchange makes it a good collateral security for obtaining loan from banks.
(iii) Investor protection
The stock exchange safeguards, investor's interest and ensures fair dealing by strictly enforcing its rules and regulations.
(iv) Assessing real worth of security.
An investor can easilý assess the real worth of securities in his hands, as market quotations are published daily in the newspapers and in websites.
(v) Mechanism to trade security
Stock Exchange provides a mechanism by which purchase and sale of listed securities take place in a matter of few minutes.

The features of commercial bills are:
(i) Drawer
(ii) Acceptor
(iii) Payee
(iv) Discounter
(v) Endorser
(vi) Assessment
(vii) Maturity
(viii) Credit rating
Types of commercial bills are:
(i) Demand and usance bills:
(a) A demand bill is one wherein no specific time of payment is mentioned.
(b) So, demand bills are payable immediately when they are presented to the drawee.
(ii) Clean bills and documentary bills:
(a) Bills that are accompanied by documents of title to goods are called documentary bills.
(b) Clean bills are drawn without accompanying any document.
(c) Example: Railway receipt and Lorry receipt.
(iii) Inland bills and Foreign bills:
(a) Bills that are drawn and payable in India on a person who is resident in India are called inland bills.
(b) Bills that are drawn outside India and are payable either in India or outside India are called foreign bills.
(iv) Indigeneous bills: The drawing and acceptance of indigenous bills are governed by native custom or usage of trade.
(v) Accommodation and supply bills: Accommodation bills are those which do not arise out of genuine trade of transactions.

The significance of capital market functions are as follows
(i) Savings and Capital Formation
In capital market, various types of securities help to mobilize savings from various sectors of population likes Individuals, Corporate, Government, etc.
(ii) Permanent Capital
The existence of a capital market/stock exchange enables companies to raise permanent capital.
(iii) Industrial Growth
The stock exchange is a central market through which resources are transferred to the industrial sector of the economy.The existence of capital market/stock exchange encourages people to invest in productive channels.
(iv) Ready and Continuous Market
The stock exchange provides a central convenient place where buyers and sellers can easily purchase and sell securities.
(v) Reliable Guide to Performance
The capital market serve as a reliable guide to the performance and financial position of corporate and thereby promotes efficiency.
(vi) Proper Channelization of Funds
The prevailing market price of security and relative yield are the guiding factors for the people to channelize their funds in a particular company.

Financial markets can be classified in different ways. They are as follows
(i) On the Basis of Type of Financial Claim
(a) Debt Market: Debt market is the financial market for trading in Debt instruments(i.e Government Bonds or Securities, Corporate Debentures or Bonds). 
(b) Equity Market: Equity market is the financial market for trading in equity shares of companies
(ii) On the basis of Maturity of Financial Claim
(a) Money Market:  Money market is the market for short term financial claim (usually one year or less) E.g. Treasury Bills, Commercial Paper, Certificates of Deposit
(b) Capital Market: Capital market  is the market for long term financial claim more than a year Example : Shares and Debentures
(iii) On the Basis of Time of Issue of Financial Claim
(a) Primary Market: Primary market is a term used to include all the institutions that are involved in the sale of securities for the first time by the issuers (Companies).here the money from investors goes directly to the issuers.
(b) Secondary Market: Secondary market is the market for securities that are already issued. Stock Exchange is an important institution in the secondary market.
(iv) On the Basis of Timing of Delivery of Financial Claim
(a) Cash/Spot Market: Cash/Spot market  is the market where the delivery of the financial instrument and payment of cash occurs immediately (i.e.) settlement is completed immediately.
(b) Forward or Future Market: Forward or Future market is a market where the delivery of the asset and payment of cash takes place at a pre determined time in future.
(v) On the Basis of the Organisational Structure of the Financial Market
(a) Exchange traded Market: Exchange traded market is a centralized organisation (stock exchange) with standardized procedures.
(b) Over - the- counter Market:  Over - the- counter market is a decentralized market (outside the stock exchange) with customized procedures.

The disadvantages of MBO are:
(i) MBO fails to explain the philosophy; most of the executives do not know how MBO works? What is MBO? and why is MBO necessary? and how participants can benefit by MBO?
(ii) MBO is a time consuming process. Much time is needed by senior people for framing the MBO.
(iii) Next, it leads to heavy expenditure. Sometimes, managers are frustrated over MBO. MBO requires heavy paper work.
(iv) MBO emphasises only on short-term objectives and does not consider the long-term objective
(v) The status of sub-ordinates is necessary for proper objectives setting. But, this is not possible in the process ofMBO.
(vi) MBO is rigid one. Objectives should be changed according to the changed circumstances, external or internal.
(vii) If it is not done, the planned results cannot be obtained.
(viii) The objectives are set without considering the available resources.

Functions of management can be classified into two categories.
A. Main functions; and
B. Subsidiary functions.
A. Main functions:
(i) Planning:
(a) Planning is the primary function of management.
(b) Nothing can be performed without planning.
(c) E.g. Writing a book starts with planning.
(ii) Organising:
(a) Organising is the process of establishing harmonious relationship among the members of an organisation.
(b) Organsing function work is assigned to employees who are given authority to carry out the work assigned and made accountable for it.
(iii) Staffing:
(a) Staffing function comprises the activities of selection and placement of competent personnel.
(b) Staffing refers to placement of right persons in the right jobs.
(iv) Directing:
(a) Directing denotes motivating, leading, guiding and communicating with subordinates.
(b) Employees are kept informed of all necessary matters by circulars, instructions man uals, newsletters, notice-boards, meeting, participative mechanism, etc.
B. Subsidiary functions:
(i) Innovation:
(a) Innovation refers to the preparation of personnel and organisation to face the changes made in the business world.
(b) Innovation includes developing new material, new products, new techniques in production, new package, new design of a product and cost reduction.
(ii) Representation:
(a) A manager has to act as representative of a company.
(b) Manager has dealings with customers, suppliers, government officials, banks, financial institutions, trade unions, etc.
(c) It is the duty of every manager to have good relation with others.
(iii) Decision-making:
(a) Everyemployee of an organisation has to take a number of decisions everyday.
(b) Decision - making helps in the smooth functioning of an organisation.
(iv) Communication:
(a) Communication is the transmission of human thoughts, views or opinions from one person to another person.
(v) Workers are informed about what should be done, where it is to be done, how it is to be done and when it is to be done.

There are five parts of management as a process
1. Management is Co-ordination:
(i) The manager of an enterprise must effectively co-ordinate all activities and resources of the organisation.
(ii) Namely, Men, Machines, Materials and Money the Four M's of Management.
2. Management is a Process :
(i) The manager achieves proper co-ordination of resources by means of the managerial functions.
(ii) Planning, Organising, Staffing, Directing (or leading and motivating) and controlling.
3. Management is a Purposive Process:
(i) It is directed toward the achievement of predetermined goals or objectives.
(ii) Without an objective, we have no destination to reach or a path to follow to arrive at our destination
(ii) Example; A goal, both management and organisation must be purposive or goal-oriented.
4.  Management is a Social purpose:
It is the art of getting things done through other people.
5. Management is a Cyclical Process:
It represents planning action-control-re-planning cycle. (i.e.,) an ongoing process to attain the planned goals