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Friday 22 September 2017

Non Profit Organizations:

Introduction
A non- profit organization is also known as a non- business entity. It is an organization whose purposes are other than making a profit. It includes- churches, public c schools, public charities public hospitals etc.


A nonprofit organization (also known as a non-business entity) is an organization that has been formed by a group of people in order "to pursue a common not-for-profit goal", that is, to pursue a stated goal without the intention of distributing excess revenue to members or leaders. A nonprofit organization is often dedicated to furthering a particular social cause or advocating for a particular point of view. In economic terms, a nonprofit organization uses its surplus revenues to further achieve its purpose or mission, rather than distributing its surplus income to the organization's shareholders (or equivalents) as profit or dividends. This is known as the non-distribution constraint. The decision to adopt a nonprofit legal structure is one that will often have taxation implications, particularly where the nonprofit seeks income tax exemption or charitable status.

NGO in India

A non profit organisations can be registered in India as a Society, under the Registrar of Societies or as a Trust, by making a Trust deed, or as a Section 8 Company, under the Companies Act, 2013.
Whether a trust, society or Section 8 company, the Income Tax Act, 1961 gives all categories equal treatment, in terms of exempting their income and granting 80G certificates, whereby donors to non-profit organisations may claim a rebate against donations made. Foreign contributions to non-profits are governed by FC(R)A regulations and the Home Ministry.
For an organisation to be termed as charity it requires Income tax clearances under 12 A Clause of Income Tax Act. Section 2(15) of the Income Tax Act defines ‘charitable purpose’ to include ‘relief of the poor, education, medical relief and the advancement of any other object of general public utility’. A purpose that relates exclusively to religious teaching or worship is not considered as charitable.
Registration
Registering a Non Profit in India can be done in a total of five ways:
·         Trust
·         Society
·         Section-8 Company
·         Special Licensing
·         Section-25 Company (old companies Act - Companies Act,1956

Trusts

A public charitable trust is usually floated when there is a property involved, especially in terms of land and building.

Society

According to section 20 of the Societies Registration Act, 1860, the following societies can be registered under the Act: ‘charitable societies, military orphan funds or societies established at the several presidencies of India, societies established for the promotion of science, literature, or the fine arts, for instruction, the diffusion of useful knowledge, the diffusion of political education, the foundation or maintenance of libraries or reading rooms for general use among the members or open to the public, or public museums and galleries of paintings and other works of art, collection of natural history, mechanical and philosophical inventions, instruments or designs.’

Section-8 Company

According to section 8(1)(a), (b) and (c) of the Indian Companies Act, 2013, a section-8 company can be established ‘for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object’, provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members.
Special Licensing
Society, Charitable societies, military orphan funds or societies established at the several presidencies of India, societies established for the promotion of science, literature, or the fine arts, for instruction, the diffusion of useful knowledge, the diffusion of political education, the foundation or maintenance of libraries or reading rooms for general use among the members or open to the public, or public museums and galleries of paintings and other works of art, collection of natural history, mechanical and philosophical inventions, instruments or designs
In addition to registration, a non-profit engaged in certain activities might also require special license/permission. Some of these include (but are not limited to):
1.   A place of work in a restricted area (like a tribal area or a border area requires a special permit – the Inner Line Permit – usually issues either by the Ministry of Home Affairs or by the relevant local authority (i.e., district magistrate).
2.   To open an office and employ people, the NGO should be registered under the Shop and Establishment Act.
3.   To employ foreign staff, an Indian non-profit needs to be registered as a trust/society/company, have FCRA registration and also obtain a No Objection Certificate. The intended employee also needs a work visa.

4.   A foreign not-for-profit may be registered as a branch, liaison or project office [and not necessarily as an Indian entity] after the requisite permission has been granted by the RBI. Upon receipt of approval from the RBI, the foreign office must within 30 days seek registration under the Companies Act, 1956. Alongside of these permissions, the office must acquire tax registrations.

Social Entrepreneurship

Introduction
Social entrepreneurship encompasses the activities and processes undertaken to discover, define and exploit opportunities in order to enhance social wealth by creating new ventures or managing existing organizations in an innovative manner.


Characteristics:

1.    Change agents in the social sector: Social entrepreneurs are reformers and revolutionaries, as described by Schumpeter, but with a social mission. They make fundamental changes in the way things are done in the social sector. Their visions are bold. They attack the underlying causes of problems, rather than simply treating symptoms. They often reduce needs rather than just meeting them. They seek to create systemic changes and sustainable improvements. Though they may act locally, their actions have the potential to stimulate global improvements in their chosen arenas, whether that is education, health care, economic development, the environment, the arts, or any other social field.

2.    Adopting a mission to create and sustain social value: This is the core of what distinguishes social entrepreneurs from business entrepreneurs even from socially responsible businesses. For a social entrepreneur, the social mission is fundamental. This is a mission of social improvement that cannot be reduced to creating private benefits (financial returns or consumption benefits) for individuals. Making a profit, creating wealth, or serving the desires of customers may be part of the model, but these are means to a social end, not the end in itself. Profit is not the gauge of value creation; nor is customer satisfaction; social impact is the gauge. Social entrepreneurs look for a long-term social return on investment. Social entrepreneurs want more than a quick hit; they want to create lasting improvements. They think about sustaining the impact.

3.    Recognizing and relentlessly pursuing new opportunities: Where others see problems, social entrepreneurs see opportunity. They are not simply driven by the perception of a social need or by their compassion, rather they have a vision of how to achieve improvement and they are determined to make their vision work. They are persistent. The models they develop and the approaches they take can, and often does, change, as the entrepreneurs learn about what works and what does not work. The key element is persistence combined with a willingness to make adjustments as one goes. Rather than giving up when an obstacle is encountered, entrepreneurs ask, “How can we surmount this obstacle? How can we make this work?”

4.    Engaging in a process of continuous innovation, adaptation, and learning: Entrepreneurs are innovative. They break new ground; develop new models, and pioneer new approaches. However, as Schumpeter notes, innovation can take many forms. It does not require inventing something wholly new; it can simply involve applying an existing idea in a new way or to a new situation. Entrepreneurs need not be inventors. They simply need to be creative in applying what others have invented. Their innovations may appear in how they structure their core programs or in how they assemble the resources and fund their work. On the funding side, social entrepreneurs look for innovative ways to assure that their ventures will have access to resources as long as they are creating social value. This willingness to innovate is part of the modus operandi of entrepreneurs. It is not just a one-time burst of creativity. It is a continuous process of exploring, learning, and improving. Of course, with innovation comes uncertainty and risk of failure. Entrepreneurs tend to have a high tolerance for ambiguity and learn how to manage risks for themselves and others. They treat failure of a project as a learning experience, not a personal tragedy.

5.    Acting boldly without being limited by resources currently in hand: Social entrepreneurs do not let their own limited resources keep them from pursuing their visions. They are skilled at doing more with less and at attracting resources from others. They use scarce resources efficiently, and they leverage their limited resources by drawing in partners and collaborating with others. They explore all resource options, from pure philanthropy to the commercial methods of the business sector. They are not bound by sector norms or traditions. They develop resource strategies that are likely to support and reinforce their social missions. They take calculated risks and manage the downside, so as to reduce the harm that will result from failure. They understand the risk tolerances of their stakeholders and use this to spread the risk to those who are better prepared to accept it.

6.    Exhibiting a heightened sense of accountability to the constituencies served and for the outcomes created:  They understand the expectations and values of their “investors,” including anyone who invests money, time, and/or expertise to help them. They seek to provide real social improvements to their beneficiaries and their communities, as well as attractive (social and/or financial) return to their investors. Creating a fit between investor values and community needs is an important part of the challenge. When feasible, social entrepreneurs create market-like feedback mechanisms to reinforce this accountability. They assess their progress in terms of social, financial, and managerial outcomes, not simply in terms of their size, outputs, or processes. They use this information to make course corrections as needed.

Wednesday 20 September 2017

Office Automation System

What is Office Automation System?

Office automation systems use both hardware and software solutions that will ease your workload. It is so effective and simple that it may activate options inside the software which you already have but don’t cost much.
It records, manipulates, exchanges and secures your organizational data. It manages the data of an organization which are generally used on daily basis.

An office automated systems examples can be used to explain this. In your mail, you will find a filter which will help you sort out all messages that are incoming into folders that are appropriate or even could send them to other staffs that doesn’t even respond. The automation system may also demand technology that is expensive and in demand.

Advantages of Automated Systems:

1. Manipulation and storage of data:

Storage of data means saving all confidential and important documents and records related to office. The office automation system also consists of handling data applications that are used for handling and creating documents, images, spreadsheets and files. Several kinds of word processing as well as desktop presentation packages are present which will allow in creating or even editing any data.

2. Management of data:

Data management happens to be one of the best and biggest advantages that come with office automation systems. It offers several facilities such as managing of data and information that is sorted. Big business organizations are able to monitor and even handle projects and activities that are big inside the office by using an electronic management system.

3. Exchanging data:

Exchanging data that is stored or even manipulated happens to be quite an essential component of the office automation system. It will help in sending files, exchanging any information or data and use the method of electronic transfer application whenever the need arises.

4. More accuracy:

The office automation system also guarantees more efficiency than any other machine. Once all bugs have been removed from the program or the application, it could help you get more accuracy in your daily businesses. The programs used in this are far more effective and reliable and people who have made this in real.

5. Saves more time and even more resources:

The office automation system will empower all businesses to all time and money both. It will simplify all the complex tasks, help in getting a more dedicated and proper resource and will also lead to a much bigger amount with time. The digital storage is also an essential feature that will reduce the need of preserving all hard copies.

6. Security:

Security is another major issue with office automation system. It give security to important data of the organization. Its anti malware function restrict the chances of virus infection over the data.

Disadvantages of Office Automation System: 

Cost

Office automation systems are quite expensive when you first begin to invest in the office automation software as well as equipment. A professional office suite or machine which can do so many things such as scanning, binding documents and duplicating them has to cost you some money. Employers who have worked for years might not use this function. They are aware of the old and manual methods which are difficult to adjust. This may also need some training that is time consuming. In any case, if the automation system doesn’t function all that well, power will be interrupted. You will not be able to find any manual method on a regular basis and that could add more to the disadvantage.

Value and Value drivers

Introduction
Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. Value may also be expressed as a straightforward relationship between perceived benefits and perceived costs: Value = Benefits / Cost.
As per “Kotler, Keller”, 2006, The value reflects the perceived tangible and intangible benefits and costs of the buyer; it can be represented as a combination of quality, service, and price (CVT – “customer value triad”)
The basic underlying concept of value in marketing is human needs. The basic human needs may include food, shelter, belonging, love, and self expression. Both culture and individual personality shape human needs in what is known as wants. When wants are backed by buying power, they become demands.
With a consumers' wants and resources (financial ability), they demand products and services with benefits that add up to the most value and satisfaction.
The four types of value include: functional value, monetary value, social value, and psychological value. The sources of value are not equally important to all consumers. How important a value is, depends on the consumer and the purchase. Values should always be defined through the "eyes" of the consumer.
Functional Value: This type of value is what an offer does; it's the solution an offer provides to the customer.
Monetary Value: This is where the function of the price paid is relative to offerings perceived worth. This value invites a trade-off between other values and monetary costs.
Social Value: The extent to which owning a product or engaging in a service allows the consumer to connect with others.
Psychological Value: The extent to which a product allows consumers to express themselves or feel better.
For a firm to deliver value to its customers, they must consider what is known as the "total market offering." This includes the reputation of the organization, staff representation, product benefits, and technological characteristics as compared to competitors' market offerings and prices. Value can thus be defined as the relationship of a firm's market offerings to those of its competitors.
Value in marketing can be defined by both qualitative and quantitative measures. On the qualitative side, value is the perceived gain composed of individual's emotional, mental and physical condition plus various social, economic, cultural and environmental factors. On the quantitative side, value is the actual gain measured in terms of financial numbers, percentages, and dollars.
For an organization to deliver value, it has to improve its value: cost ratio. When an organization delivers high value at high price, the perceived value may be low. When it delivers high value at low price, the perceived value may be high. The key to deliver high perceived value is attaching value to each of the individuals or organizations—making them believe that what you are offering is beyond expectation—helping them to solve a problem, offering a solution, giving results, and making them happy.
Value change based on time, place and people in relation to changing environmental factors. It is a creative energy exchange between people and organizations in our marketplace.
Very often managers conduct customer value analysis to reveal the company's strengths and weaknesses compared to other competitors. the steps of which are as followed.
·         To identify the major attributes and benefits that customers value for choosing a product and vendor.
·         Assessment of the quantitative importance of the different attributes and benefits.
·         Assessment of the company's and competitors' performance on each attribute and benefits.
·         Examining how customer in the particular segment rated company against major competitor on each attribute.
·         Monitor customer perceived value over time.

Value drivers
Value drivers are anything that can be added to a product or service that will increase its value to consumers. These differentiate a product or service from those of a competitor and make them more appealing to consumers.
The greatest benefit of a value driver is that it provides a competitive advantage to a business, giving that business an upper hand in its industry.
Value drivers can come in many forms, such as superior brand awareness, Customer care service, Delivery service, extended warranty, revolutionary technology, etc.
Why are value drivers important?
Value drivers will make a company’s products seem better than its competitors’. By creating as many value drivers as possible, a company can boost its leverage on the marketplace. They will further influence consumers to purchase that product. These provide products with distinguishable traits that companies can use to make their respective products more desirable in the eyes of the consumer.
To continuously add value to products and services, businesses should constantly be monitoring the market so that they can be the first to take advantage of changes in demand and consumer behavior. Value driver’s do not have to directly relate to a product. Something such as a reputation of having great customer service can be a value driver for a company.


REASONS FOR GROWTH OF SERVICES


Manufacturing industries grew because they produced tangible goods which satisfied man’s physiological needs of food, shelter and clothing. As the basic need was fulfilled there was demand for improved satisfaction, and this led to a proliferation of variations of the same product and a number of companies involved in its manufacture. The growth of service industries can be traced to the economic development of society and the socio-cultural changes that have accompanied it. Changing environmental forces brought out the various types of services in forefront of the economy. These environmental forces separately or in combination create new type of service. The following environmental factors are responsible to make a new service.

(i)   Consumer affluence: Due to the fast rise in the income of consumers, they are attracted towards the new areas like clubs, health clubs, domestic services, travel and tourism, entertainment, banking, investment, retailing, insurance, repairs, etc. and these are growing much faster than ever before. There is a significant change in the pattern of family expenditure.
(ii)Working women: During the recent times a large number of women have come up in a variety of professions. The work performance of women in most of services sector like bank, insurance, airlines, etc. is highly appreciable. In short, women are getting involved in almost all male dominated activities. Due to increasing involvement of women in commercial activities, the services like domestic activities, fast food restaurants, marriage counseling, personal care, financial services, retailing, etc. have emerged in the recent times.
(iii)   Double income no kids (DINK): Dinks are the working couples who have consciously postponed parenthood plans indefinitely or in an increasing number of cases, have decided not to have any children ever. The dink culture is getting stronger and spreading wider day by day. The realisation that parenthood is likely to result in more commitments at home and demands on their time, thereby slowing down their career plans and ambitions, make them postpones their parenthood plans. Whatsoever be their life style, they have double income and no kids, resulting in the emerging and enhancing of services like, entertainment, hotels and restaurants, career institutes, domestic services, travel resorts, personal care, etc.

(iv) Leisure time: People do get some time to travel and holiday, and therefore, there is a need for travel agencies, resorts, hotels and entertainment. There are others who would like to utilise this time to improve their career prospects, and therefore, there is a need for adult education, distance learning, part time courses, etc.
(v)Greater life expectancy: According to the World Development Report and World Human Resource Index, the life expectancy of people has increased significantly all over the world barring few developing countries. It may be due to the advancement in the medical technology, and greater awareness about health and education. Greater life expectancy invites opportunities in services like hospitals, Nursing Homes, entertainment, leisure services, investment banking and so on.
(vi)      Product innovations: In the changing time the consumers have become more conscious of quality than cost. They need high quality goods at par with international standards. Having this in mind the manufacturers have focused their attention on quality improvement, innovations, etc. In this process many more services have emerged on account of product innovation. Some of them are servicing services, repairs, computer, training and development, education, etc.
(vii) Product complexity: A large number of products are now being purchased in households which can be serviced only by specialised persons e.g. water purifiers, microwave oven, computers, etc., giving rise to the need for services. The growing product complexities create greater demand for skilled specialists to provide maintenance for these complex products and bring out other services like expert advice, consultancy services, etc.

(viii)      Complexity of life: Certain product and services have made human life more comfortable and complex as well. Also, life itself has become more complex due to the socio-economic, psycho-political, technological and legal change. This has brought about the emergence of services like legal aid, tax consulting, professional services, airlines, courier services, insurance, banking, etc.
(ix)    New young youth: Every new generation has its own characteristics and enjoys a different life style. There is a lot of difference between the generations in respect to their living conditions/ styles, maturity, thinking, attitudes, behavior, beliefs, satisfactions, performance values and so on. Today’s generation with all these changes provide more opportunities to services like entertainment, fast food, computers, travel, picnic resorts, educational institution, counseling, retailing, etc. 
(x)    Resource scarcity and ecology: As the natural resources are depleting and need for conservation is increasing, we have seen the coming up of service providers like pollution control agencies, car pools, water management, etc.
(xi)    Corporate crowd: The phenomena of “Globalization, Privatization and Liberalization coupled with faster urbanization have created the corporate world crowd and its support services. This crowd is responsible in bringing the new services, and redefining the old ones. The services like hotels and restaurants, banking, insurance, travel and tourism, advertising, airlines, courier services, marketing research, health care, legal services, etc. will emerge and flourish more and more.


Thursday 14 September 2017

Difference between Domestic and International Marketing


Marketing is defined as the set of activities which are undertaken by the companies to provide satisfaction to the customers through value addition and making good relations with them, to increase their brand value. It identifies and converts needs into products and services, so as to satisfy their wants. There are two types of marketing namely, domestic and international marketing. Domestic marketing is when commercialization of goods and services are limited to the home country only.

On the other hand, International marketing, as the name suggests, is the type of marketing which is stretched across several countries in the world, i.e. the marketing of products and services is done globally. In this article excerpt you can find the difference between domestic and international marketing in detail.
Comparison Chart
BASIS FOR COMPARISON
DOMESTIC MARKETING
INTERNATIONAL MARKETING
Meaning
Domestic marketing refers to marketing within the geographical boundaries of the nation.
International marketing means the activities of production, promotion, distribution, advertisement and selling are extend over the geographical limits of the country.
Area served
Small
Large
Government interference
Less
Comparatively high
Business operation
In a single country
More than one country
Use of technology
Limited
Sharing and use of latest technology.
Risk factor
Low
Very high
Capital requirement
Less
Huge
Nature of customers
Almost same
Variation in customer tastes and preferences.
Research
Required but not to a very high level.
Deep research of the market is required because of less knowledge about the foreign markets.


Definition of Domestic Marketing
Domestic Marketing refers to the marketing activities employed on a national scale. Marketing strategies were undertaken to cater customers of a small area, generally within the local limits of a country. It serves and influences the customers of a specific country only.
Domestic Marketing enjoys a number of privileges like easy to access data, fewer communication barriers, deep knowledge about consumer demand, preferences and taste, knowledge about market trends, less competition, one set of economic, social & political issues, etc. However, due to the limited market size, the growth is also limited.
Definition of International Marketing
International Marketing is when the marketing practices are adopted to cater the global market. Normally, the companies start their business in the home country, after achieving the success they proceed their business to another level and become a transnational company, where they seek to enter in the market of several countries. So, the company must be known about the rules and regulations of that country.
International marketing enjoys no boundaries, keeping the focus on the worldwide customers. However, some disadvantages are also associated with it, like the challenges it faces on the path of expansion and globalisation. Some of which are socio-cultural differences, changes in foreign currency, language barriers, differences in buying habits of customers, setting and international price for the product and so on.

Key Differences between Domestic and International Marketing
The significant differences between domestic and international marketing are explained below:

  1. The activities of production, promotion, advertising, distribution, selling and customer satisfaction within one’s own country is known as Domestic marketing. International marketing is when the marketing activities are undertaken at the international level.
  2. Domestic marketing caters a small area, whereas International marketing covers a large area.
  3. In domestic marketing, there is less government influence as compared to the international marketing because the company has to deal with rules and regulations of numerous countries.
  4. In domestic marketing, business operations are done in one country only. On the other hand, in international marketing, the business operations conducted in multiple countries.
  5. In international marketing, there is an advantage that the business organisation can have access to the latest technology of several countries which is absent in case domestic countries.
  6. The risk involved and challenges in case of international marketing are very high due to some factors like socio-cultural differences, exchange rates, setting an international price for the product and so on. The risk factor and challenges are comparatively less in the case of domestic marketing.
  7. International marketing requires huge capital investment, but domestic marketing requires less investment for acquiring resources.
  8. In domestic marketing, the executives face less problem while dealing with the people because of similar nature. However, in the case of international marketing, it is quite difficult to deal with customers of different tastes, habits, preferences, segments, etc.
  9. International marketing seeks deep research on the foreign market due to lack of familiarity, which is just opposite in the case of domestic marketing, where a small survey will prove helpful to know the market conditions.

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