EMERGING OPPORTUNITIES IN INDIAN BUSINESS KISHAN BADIYANI

MANUFACTURING SECTOR: Myer: Production is the creation of utility with the help of furniture- fixtures, equipments and employee competency. Star: With the help of machinery, the raw material pass through the processes and form a product or service is procured which is called production. KISHAN BADIYANI

MANUFACTURING SECTOR: Production means to conduct some mechanical processes through which one form of material converted to another form of material. Services are also included in production in modern times as its importance started increasing. Like, hotel services, hospital services etc. KISHAN BADIYANI

GENERAL CHARACTERISTICS: Use of production equipments Goods-services Creation of utility Production-a process Use of technology and equipments Increasing in value KISHAN BADIYANI

MODERN CHARACTERISTICS: Scientific Techniques Modernisation Specialisation Various stages in production process Different forms at each stage Different timing at each stage Co-ordination between production and storage Research and development Industrial engineering KISHAN BADIYANI

SERVICE SECTOR: American Marketing Association: Services means activities, which are offered for benefit or satisfaction or which is connected with the product which is being provided. Philip Kotler: services means such an activity or benefit, which is offered by one party to another and which does not convert into any kind of ownership . The process of providing service may or may not be connected with the material product. KISHAN BADIYANI

SERVICE SECTOR: Services can be separate from product- Insurance services, banking services etc. It can be connected with the product- Transportation services, after sales services etc. KISHAN BADIYANI

CHARACTERISTICS: INTANGIBILITY Services do not have any shape, body, color or size. It can neither be touched or seen and its samples cannot be provided. 2. INSEPARABILITY A service can be person oriented or machine oriented, so it can not be separated from the person or machine. It cannot be stored or sold. Person-oriented services- educational, health related etc. Machine-oriented- transportation, telephone, photography etc. KISHAN BADIYANI

CHARACTERISTICS: 3. VARIABILITY Like goods, the nature of service provided to the customers is never similar. Specially variability found in person oriented services. For example, honest doctor better services, while careless doctor will not give proper service. Variability also found in machine oriented services also, For example, there is variability in used/old machine and the new machine. KISHAN BADIYANI

CHARACTERISTICS: 4. PERISHABILITY: While comparing services with the products, it is seen that they are intangible as well as perishable also. If the advantage of service is not taken while it is available than benefit of service perishes. For example, empty seats in theatre, empty beds in hospitals, empty student seats in schools etc. Services will be wasted if not used in particular time, because it cannot be stored. KISHAN BADIYANI

SOCIAL RESPONSIBILITY: To contribute human progress without the intention of profit, contribute to human wellness, social development is called social responsibility. Milton Friedman: Social responsibility means the behaviour without the maximisation of profit for the benefit of people other than shareholders. H. R. Boven Social responsibility means the managers have to adopt such policies, take such decisions, and do such activities which are desirable in relation to our societies values and objectives. KISHAN BADIYANI

CLASSIFICATION OF SOCIAL RESPONSIBILITY: Contribution towards customers Contribution towards human resources Contribution towards shareholders Contribution towards government Contribution towards citizen Contribution towards society Contribution towards founders Contribution towards debtors and traders Contribution towards environment Contribution towards the nation KISHAN BADIYANI

OUTSOURCING Peter Drucker: Big units, as a part of business of different production services, expert knowledge by sub-contract for saving administrative cost and time and bring down the production cost, which can be called outsourcing. KISHAN BADIYANI

SERVICES UNDER OUTSOURCING Financial services Advertising Courier service After sales services Protection and securities Cleanliness and canteen services Manufacturing process services Health related services Public interest social services Research and division of labour KISHAN BADIYANI

E-COMMERCE: E-commerce means electronic commerce. When commerce, exchange, trade and distribution services carried on with the help of electronic tools and equipment, it is called e-commerce. KISHAN BADIYANI

COMPONENTS OF E-COMMERCE: Personal Computer Internet E-mail Credit-debit card E-marketing KISHAN BADIYANI