If we could not deny the importance of money in business, then we can also never deny the importance of credit in business. Since the supply of money is the lifeblood of a borrowing economy, there are two sources which meet the capital requirements of the business. These are the savings of the people and commercial banks. Probably these Commercial Banks take the savings of money and borrowed them to the needy people as well as the businessmen.
Any sort of risk in business is known as business risk. No business is business without risk and business may suffer losses due to break down in machinery, strike by workers, theft of goods, misappropriation of cash etc. The losses in business can also be caused by a fall in demand for the product, rise in the prices of raw material, labor rates my go up, the government my a impose certain restrictions on the business etc. Therefore, business risks, can be defined as “Business risk can be referred to the doubt / worries which can be present concerning the occurrence of some uninvited or bad events”.
In the words of G.Black “Salesmanship consists of wining the buyer’s confidence for the sellers goods, thereby wining a regular and permanent customer”. With the revolution in the means of transport, the importance of sales functions has further increased. Goods are produced not only for selling in the home market, but also in other different countries of the world. There for manufacturers faces stiff competition. The Success of Business now depends as to how well the goods are sold in the market. Salesmanship thus is a life blood of a business and is an attempt to induce people to buy goods. There is a difference between selling and a salesmanship. Selling in the business refers to the process of transfer of goods or the services to a buyer in exchange of money. On the other hand, salesmanship is the ability to persuade people to buy goods and services. It is an art of persuasion.
Before talking about the various types of warehouses, it is important to talk about warehouse. “Warehouse is a place or an establishment for the safe storage of goods”. The warehouses are specially built for preserving goods from the time they are produced until they are needed for consumption. The warehouses built for storage of goods differ in sizes, designs and production depending upon the nature of goods and products.
A Joint Stock Company is voluntary association in which people contributes with capital in the forms of shares to carry on a certain type of business for earning profit”. Company operates in its own name under a common seal. It has separate body from its members. Below this post is all about the characteristics and features of joint stock company. You should aware of them all.