Category: Industry

Besides the integrated circuit and family concept, several other noteworthy developments characterized the third generation. Perhaps the most important of these were the operating system, continued improvements in programming languages, the minicomputer, and work processing.1. Operating Systems : ADVERTISEMENTS: An operating system is a set of control programs that supervises the work of the computer systems. Programs were entered one by one and monitored individually by the computer operator.Also, automatic communication between the CPU and devices such as the printer was not yet possible; these elements had to be coordinated manually. With operating systems, however, these tasks could be performed automatically under program control. Image Source:ts.avnet.comAlso, computers in the first and second generations were serial processors; that is, they would do all their work in a one-program-at-a-time fashion. For example,…

Monopoly is a market form, which has always attracted the attention of economists. This word has come from the Greek words, monos (single), polein (selling), which mean alone to sell. Therefore, in literary terms, it implies a market structure, where there is a single seller.In economic theory, monopoly is characterised by sole producer selling a distinct product for which there are no close substitutes and there are strong barriers to entry. This sole producer (may be known as monopolist) controls the entire supply of the market.Thus, the supply curve of the firm and the industry will be one and the same. Under these circumstances, the monopolist will tend to have complete control over the price of the product sold by him. That is why, monopolist is a price maker rather…

The following features serve as a necessary set of assumptions or conditions underlying the model of perfect competition: 1. Large Number of Sellers and Buyers: In perfectly competitive market, there are a large number of sellers and buyers in the indus­try. On account of innumerable transactors, each seller produces a very small portion of the total quantity offered in the market and each buyer has an inappreciable portion of the total demand of the market.Thus, no individual seller (or buyer) has any economic or market power to influence the market price in his favour through his own individual behaviour or action. The number of sellers and buyers are so numerous that variations in output by one seller or change in purchase by a single buyer can hardly make any difference…

When quality increases, the productivity also improves. This is because wastes and rework are reduced, and inputs are optimally utilized. Higher productivity enables an organization to reduce price and gain competitive advantage both in terms of price and quality. Customers also feel happy as they get value for their money. Since organization’s bottom line improves, it raises the satisfaction level of all stakeholders, including employees.The significance of cost of quality has been discussed, while explaining the ISO certification requirements. Saving the cost of quality will have an immediate effect on the enhanced productivity of an organization. All these establish that quality and productivity are indirectly related.Thus, productivity should not now be misconstrued as labour performance alone. It is the sum total of efficiency and, therefore, linking productivity to wages should…

It is evident from the foregoing discussion that to settle differences on the work-related issues, collective bargaining as a process is perceived both by employers and employees and important machinery. We have adequately covered the general issues, which are usually settled through collective bargaining.The need for collective bargaining in India arose due to some controversial problems, which the Indian industry had to face post-World War II. One of the most important among these is that of modernization. The problems of modernization and productivity are to be viewed in a proper light in the context of industrial development on planned lines. Indian industry cannot compete in foreign markets if it does not follow modern methods of production.Since modernization causes displacement of workers, it naturally invites hostility and the workers and the…

Since the attainment of freedom the progress made in the sphere of technical education in the country is not bad, but in view of the tremendous need and the present circumstances, the pace of progress is not quite satisfactory.In other words, some progress had been made but much is yet to be achieved. We have to import small and big machines and their state of affairs is some of our own peculiar problems that hinder the technical and industrial development of the country.Unsuitable Technical Curriculum: ADVERTISEMENTS: Being predominantly an agricultural country, India’s need, till some time back, was limited to the manufacture of agricultural implements only. Different sections of the society manufactured items of daily use.This section of the society in course of time, were typed different castes on the…

W.H. Hadow was the chairman of the Consultative Committee in 1926. Hadow was entrusted with the responsibility of giving suggestions for educational reforms.The committee under him submitted its Report in 1926 regarding the education of juveniles. At that time, only 10% of the children of the country were receiving secondary education. The Committee recommended that all the children between the age ranges of 11 to 15 years should receive secondary education.Upto 11 years of age each child should receive post- primary education after completing his primary education. For this the necessity of establishing more secondary schools was emphasised. Image Source : is5.mzstatic.com ADVERTISEMENTS: These schools were termed as Modern Schools, Grammar Schools, Senior Classes, Junior Technical Schools and Trade Schools. Science or literature was given the necessary place in these…

Perfect Competition refers to a market where large numbers of buyers and sellers, well aware of the market conditions, compete among themselves freely so that the prices of same goods tend to be equal.Perfect Competition is also called Perfect Competitive market or simply the perfect market. In this market no individual buyer or seller can influence the market price in any way.According to Cournot, “A perfect market is one in which the buyers have no preferences as between different units of the commodity offered for sale, sellers are quite indifferent to whom they sell and both buyers and sellers have full knowledge of prices in other part of the market.” Image Source: upload.wikimedia.org ADVERTISEMENTS: From the above definition it is clear that perfect competition is an ideal form of market…

1. Agricultural activity such as tilling, harvesting, heating and ventilation are direct consumes of: (a) Energy(b) Air ADVERTISEMENTS: (c) Sun(d) Heat Image Source :russia-insider.com2. Which of the following is not the effect of modern agriculture? ADVERTISEMENTS: (a) Nitrate pollution(b) Eutrophication(c) Biomagnification(d) Ozone depletion ADVERTISEMENTS: 3. Housing affects: (a) Neighbourhood(b) Energy consumption(c) Water consumption(d) All of the above 4. The human activity, among the following, which causes maximum environmental pollution having regional and global impacts, is: (a) Urbanization(b) Industrialisation(c) Agriculture(d) Mining5. Production, transformation and use of energy are the major problems of: (a) Industrial activity(b) Sustainable development(c) Global warming(d) Acid rain6. A chemical industry is not a cause of:(a) Air pollution(b) Noise pollution(c) Water pollution(d) Nuclear pollution7. Electronic waste is the adverse effect of: (a) Industry(b) Agriculture(c) Housing(d) Mining8. Extraction of…

Every organisation maintains a list of vendors, trade group-wise whom they approach for their need of materials. This list is under constant review. Unsatisfactory suppliers are eliminated and new suppliers are added to enhance competition.Also new suppliers have to be found for newer materials required on ever expanding business. How does one obtain information regarding potential suppliers? An important function of the purchase research section will be to obtain this information from the following sources and keep a classified record for reference when necessary.The sources of information regarding the potential suppliers are: ADVERTISEMENTS: 1. Newspaper advertisements2. Trade directories3. Catalogue, price lists etc.4. Trade journals ADVERTISEMENTS: 5. Salesmen6. Advertised tender7. Telephone directories8. Exchange of information between similar companies ADVERTISEMENTS: 9. Trade exhibitions and fairs10. Personnel from other departments of the company11.…