Industry provides the base for commerce and commerce serves as the backbone of industry. Trade is that branch of commerce which is concerned with the sale, transfer or exchange of goods and services. Trade is the nucleus of commerce because all commercial services like transportation, storage, insurance, banking, packaging, advertising, etc., revolve around it. The super-structure of commerce is built upon the foundation of trade. The rapid growth of the rural market for a number of products is another important development. The developed economies in the world enjoyed the fruit of sustained growth over a longer period of time but now their markets have been saturated due to the limited population.
Information Technology
Catalogues of products and other business information can be transmitted to consumer and traders through the internet. It allows quick response to the queries of customers and other business houses through the internet because all processes of selection, procurement and payment are through the internet. Inform customers and suppliers of significant change initiatives, and ask how these could impact the support they receive from or provide to the organization. Make sure your network is reciprocal- share information, ideas, resources or influence with others-don’t just take from those within your network.
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By getting their goods ensured, producers and traders can avoid the risk of loss due to fire, theft, pilferage, etc. Packaging also helps to protect the goods during transit and storage. It implies the buying and selling of goods within the boundaries of a country Payment for the goods sold is made in national currency, either in cash or through the banks. The manufacturers and ultimate consumers of goods are often unknown to each other. Therefore, certain persons, known as traders, are required to bridge the gap between them. Various types of traders such as wholesalers, retailers and mercantile agents help to remove the hindrance of person.
If you feel like your business is in a gray area, consider investing in a lawyer as you set up your business. Don’t be afraid to think of something quirky, weird, and maybe even a little kooky. For instance, many small online clothing businesses include the name of the owner’s grandmother in the title, or maybe of the owner’s children who inspired the clothing. Nonprofit corporations need to follow organizational rules very similar to a regular C corp. They also need to follow special rules about what they do with any profits they earn.
Yet, in order to expand, the business may need more funding than the entrepreneur can provide. Consequently, the entrepreneur may allow other people to invest in the firm and become co-owners. There is a close interrelationship between the different branches of business described above. Commerce helps industry before and after production through the purchase of materials and the sale of finished products. Production of goods and services is meaningless unless they are distributed among the consumers.
Takeover- Takeover is a form of acquisition that is often considered hostile. Here the acquiring company proceeds to buy out shares of the target company from the market. Takeovers are governed by SEBI Regulation; Substantial Acquisition of Shares and Takeover Regulations (1997). Mergers and Amalgamations (M&A) are outside the purview of SEBI as they constitute a subject matter of the Companies Act. (ii) Unfair means such as – hoarding, black marketing or adulteration may be followed to maximise profits.