India’s Five-Year Plans: Economic Growth & Development

Posted by on Nov 8, 2025 in Economy | 0 comments

The first Five-Year Plan was launched on April 1, 1951, ending March 31, 1956.

Objectives of Five-Year Plans

a. Growth or Increase in GDP

Because of the backward economy during British rule, the government had to focus on economic growth as its primary objective when making plans.
Growth refers to an increase in the country’s capacity to produce the amount of goods and services within the country.
It refers to a steady increase in the GDP. It is necessary to produce more goods and services if the people
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Apple Marketing Strategy: Interdependence, Influences, and Global Tactics

Posted by on Nov 6, 2025 in Economy | 0 comments

The Role of Marketing at Apple

Interdependence with Key Business Functions

Marketing and Operations Interdependence

  • Marketing plans aim to increase **demand** for Apple’s products, influencing operations activities.
    • For example, discontinuing the unsuccessful iPhone 5 model and launching the 5c and 5s required Foxconn factories to implement new process layouts, order new components, and establish new quality control systems.
  • Market research helps forecast sales for new models, which is used by operations
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Core Marketing Concepts and Strategic Analysis

Posted by on Nov 5, 2025 in Economy | 0 comments

What Is Marketing?

Marketing is a social and managerial process through which individuals and organizations obtain what they need and want by creating and exchanging products and value with others. It focuses on identifying and satisfying customer needs.

The History of Marketing

The Production Era

Demand exceeded supply, leading to minimal competition and monopolies.

The Sales Era

Supply exceeded demand, which gave rise to competition.

The Marketing Era

Supply greatly exceeded demand, making customer-focused

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Macroeconomic Fundamentals: Objectives, Circular Flow, and Business Cycles

Posted by on Nov 2, 2025 in Economy | 0 comments

Microeconomics and Macroeconomics: Defining the Scope

Microeconomics focuses its study on individual units of consumption and production, the functioning of specific markets, and the formation of prices.

Macroeconomics offers a simplified view of the functioning of the entire economy through aggregate variables, often called macro variables. These include the National Product (PN), National Consumption, and Public Expenditure (GP).

Key Macroeconomic Objectives of Government Policy

The government typically

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Business Economics Fundamentals: Concepts, Utility, and Decision Making

Posted by on Nov 1, 2025 in Economy | 0 comments

Foundations of Business Economics

Business Economics: Definition, Nature, and Scope

Business Economics is the application of economic theory and methodology to business decision-making. Its nature is prescriptive, aiming to provide tools for optimal resource allocation and decision-making within a firm.

Its scope covers critical areas, including:

  • Demand analysis and forecasting
  • Production and cost analysis
  • Pricing policies and strategies
  • Capital budgeting
  • Profit management

The Crucial Role of a Business

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Essential Business Formulas and Management Processes

Posted by on Oct 30, 2025 in Economy | 0 comments

Core Financial Formulas

Revenue, Profit, and Tax Calculations

Revenue (R(x)): R(x) = FC + VC(x) + PBT

Profit After Tax (PAT): PAT = PBT – CT

Corporate Tax (CT): CT = PBT × CTR / 100

Profit Before Tax (PBT): PBT = PAT / (1 – CTR)

The Purchasing Cycle

  1. Requisition: Defining the type and number of items needed.
  2. Value Analysis: Determining the lowest cost way to satisfy the request.
  3. Supplier Selection: Evaluating prices, delivery times, quality, and other factors.
  4. Order Placement: Issuing a formal purchase order.
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