definition of Entrepreneurship

definition of Entrepreneurship is that it’s the art of generating innovative ideas that, if properly funded, generates profit. The profit could be from the sales of various products or services that were created by the idea. Such innovative ideas usually generate new companies. These ideas could also be taken to existing companies through which the idea is developed and the entrepreneur gets a percentage of the money or a job. What most people perceive entrepreneurship as is the start of a new business. They wouldn’t be wrong for thinking so as most entrepreneurial ventures start off as startup companies. However, the word has been broadened in recent years. It now incorporates a variety of different areas

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definition of organisation

According to Louis Allen Organisation is the process of identifying and grouping work to be performed defining and delegating responsibilitiy authority and establishing relationship for the purpose of enabling people to work most effectively together accomplishsing objectives . According To wheeler I nternal organisation is the structure framework of duties and responsibilities required of personal is performing various functions within the company it is essentially a blueprint for action resulting in in mechanism for carrying out functions to achieve the goal set a bi company management.

types of materials

Materials are classified according to their nature type using the basis of materials are classified into the following categories. A) raw material Those are the materials or basic input required for manufacturing the finished products. These materials undergo certain processing and change in it so as to make the finished product some of the raw material are are available in the nature but they cannot be put to use directly. They are required to be processed before using it for making a product example iron, coal, Timber. Thus we can say that is the finished product of one industry is the raw material for other industry for example sugarcane cotton are the finished products of Agricultural which are are further used as raw material by the sugar factory ginnning mill etc. B) components & Assemblies . The processed raw material convert in composite or assemblies which form a part of the finished products. These components or assemblies may be manufactured by the manufactu...

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