Category: Industry

The theory of Malthus produced a great controversy. Most of the leading economists of his times accepted it. But there were critics who thought that the theory was too pessimistic.Nowadays it is believed that the theory contains elements of the truth but that it is an oversimplification of the problem of population growth.The main criticisms levelled against the theory are summarised below: 1. Growth formulas not correct and oversimplified: ADVERTISEMENTS: The mathematical formulas regarding food supply and population growth are not correct. This criticism is beside the point because Malthus used the formulae only as examples to illustrate the dissimilar and unrelated nature of the growth of population and food supply. 2. The effects of additional population: Malthus failed to consider that the additional increments of population are also capable…

A number of new developments had taken place since the formulation of the 1948 policy. These developments included the adoption of the constitution of India, successful implementation of First Five year Plan (1951-55), formulation of Second Five year plan with greater thrust on industrialisation, adoption of a socialist pattern of society (Avadi session) as the goal of economic and social policy.These, necessitated the announcement of a new Industrial Policy of 1956 replacing the Industrial Policy of 1948. The IPR of 1956 is popularly referred to as the economic constitution of the country. Image Source: cdn.historydiscussion.net ADVERTISEMENTS: Under the new policy, industries were classified into three categories.(a) Schedule A: Industries which were to be exclusive monopolies of the state- 17 industries were included in this category. They were arms and ammunition,…

The 3rd Plan with the goal of ‘self reliant and self generating economy’ saw the beginning of long term perspective planning as an instrument to achieve the objective of a integrated growth of industry balanced with agriculture.With the base created in the first two plans, the Third Plan called for the Maximum rate of investment to:(a) Strengthen industry, power and transport and ADVERTISEMENTS: (b) Hasten the process of industrial and technological change.i. 20% total outlay was allocated to industries and mineralsii. The overall financial outlay in organised industries and mining during the Third Plan period was Rs. 3,000 crores.iii. The aim of the plan was to make the economy self-sustaining in producers’ goods industries such as steel, machine-buildings, etc., so that the quantum of external assistance needed could be curtailed…

It is true that Evaluation of sales force management is widely considered as a strategic element in effective human resource management in pharmaceutical marketing.It has seen that pharmaceutical Companies has always given a top priority for Maharashtra region. The number of Management trainee/ marketing executive and district managers in Maharashtra is 350 that is comparatively half all India field staff that is reason for strong presence and continuous growth in the market. Also as per survey, average P.C.P.M (Per Capita Per Month sale) of the pharmaceutical industry is maintained around Rs. 2.75 laks and with Cipla P.C.P.M is average Rs. 4 laks per months that is far better than the expecta­tion, which is a result of good human resource planning. Rapid Staff Turnover: As per industry data Pharmaceutical Companies ranked…

The concept of Globalisation involves within its ambit the following features: 1. Liberalisation: It stands for the freedom of the entrepreneurs to establish any industry or trade or business venture, within their own countries or abroad. 2. Free trade: ADVERTISEMENTS: It stands for free flow of trade relations among all the nations. Each state grants MFN (most favoured nation) status to other states and keeps its business and trade away from excessive and hard regulatory and protective regimes. 3. Globalisation of Economic Activity: Economic activities are be governed both by the domestic market and also the world market. It stands for the process of integrating the domestic economies with world economy. Image Source: sociologydiscussion.com 4. Liberalisation of Import-Export System: It stands for liberating the import-export activity and securing a free…

The Constitution of India and several laws made under it have attacked the Indian Caste system with a view to weaken it, particularly for eliminating the evils of the caste system, including the inhuman evil of untouchability.The objective of the following features of the Indian Constitution has been to attack caste and casteism in Indian society and politics.1. The Preamble to the Indian Constitution, which is a very valuable part of the basic structure of the Constitution, affirms full faith in popular sovereignty and recognises the sovereign equality of all the people of India. ADVERTISEMENTS: 2. The people of India have united made, adopted and enacted the Constitution of India. By it they have declared India to be a sovereign, socialist, secular, democratic, republic consisting of all the people of…

While selecting channels of distribution the marketer must decide about the number of customers it wishes to reach and the intensity of distribution, and then has to employ one of the three different distribution strategies: i. Intensive Distribution: Products which are of mass use like bread, salt, etc. or relate to impulse purchase such as chocolates or too small and simple, marketers go for intensive distribution. In these cases the customer loyalty is found to be low. Customers can buy any brand if their choice brand is not available. This is the reason that Dabur Hajmola is available at a grocery store, chemist shop, panwala, and bakery shop. Intensive distribution’s aim is to provide maximum coverage of the market by using all available outlets. Image Source: view-talay-pattaya.com ADVERTISEMENTS: Intensive distribution…

Major principles of Marxist ethics, are as follows: (1) Theory of Equality, (2) Theory of Freedom, (3) Theory of Progress, (4) Theory of Identity of Ends and Means, and (5) Approximation of Armed Revolt. 1. Theory of Equality: Equality implies the uprooting of economic classes. All should work equally and receive equal wages. And only communism can achieve this equality of labour and wages. The socialist order is only a step in the same progress. Communism recognizes the difference in powers of individuals, thus equality has been limited to the economic field. Image Source: thedroneinfo.com 2. Theory of Freedom: ADVERTISEMENTS: According to Hegel, freedom lies in the recognition of necessity. In the words of Angles, “Freedom is not achieved by escaping natural laws. Freedom is in understanding them and making…

The word ‘Kashmir’ is derived from the Sanskrit word meaning Land of Kashyap. Rishi Kashyap was one of the Saptarishis who was a Saraswat Brahmin and formalized the ancient Historical Vedic Religion. His descendants or the Kashmiri Pandits as they are commonly known named the valley in his honor.Kashmir falls in the northwestern region of the Indian subcontinent. The geographical denotions of Kashmir include the valleys between the Great Himalayas and the Pir Panjal Mountain range, until the mid -19th century.At present, it also includes the larger area of Indian-administered state of Jammu and Kashmir comprising of the three divisions of Kashmir valley, Jammu and Ladakh. Kashmir shares its borders with Pakistan as well as China. Kashmir region has been a center of Hinduism, Buddhism followed by Kashmir Shaivism. Shah…

The Major Differences between Micro and Macroeconomics are mentioned below:1. The word ‘Micro’ means small. It is a study of individuals or groups. According to Shapiro “Microeconomics deals with small parts of the economy.” It is a piece meal study. On the other hand, ‘Macro’ means large. It is a study of economy as a whole. ADVERTISEMENTS: 2. Microeconomics is a study of particular households, particular firms, particular industries, particular commodities, particular prices etc. On the other hand, Macroeconomics deals with aggregate of these quantities, not with individual incomes but with the national income, not with individual prices but with the price level, not with individual output but with the national output.3. The objective of microeconomics is to maximise utility or maximisation of profit or minimisation of cost. But the…