Indigenous Knowledge-Part-1: Research Based Study

By Hayat Mahmud

This Book Experiment Taken From Study ,Work Experience And Research Based. You Will Get World Best Knowledge of Conceptual Study Here And That Can Help You Real Life, Job Life Or Even If You Want To Be A Good Businessman. Study Materials Are Unlimited. By Studying Peoples Can Change Their Life. Those Are Interested About This Book, be ensure Thi

• Language: English
• Publisher: World Knowlege Part-1
• Release date: Aug 9, 2023
• ISBN: 9781088231876

Hayat Mahmud

This Is Hayat Mahmud. I Have Completed My Secondary And Higher Secondary School Certificate From Bangladesh. Then I Went In UK And Complete My Esol , Level-4 And Level-5 .After That I Came Back To Bangladesh And Completed My BBA From American International University-Bangladesh And Major Was Human Resource Management. Then I Have Done My MBA From Jagannath University And Major Was Marketing. I Had Several Corporate Job Experience. Though I Know About Those Culture But I am Not Interested To Work Physically Under Any Boss. I Have 4 Websites Which Was Under Google AdSense ,Analytic And AI Google. I Write Articles In My Websites And Do Promote For Traffic And Click Add. I Also Write Book.

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1

Contents

About the Topic

Everybody can do reproduction my all book information and may observe those ideas practically, study and enterprise purpose. By means of taking the ones facts, if all people practice those concepts to doing business, then author will not be answerable for any trouble. This prison authorized and the writer changed into writing all concept based totally on his non-public, corporate and enterprise sensible know. The entirety is unsure, so if everybody permanently considers and practice without own test, then is probably they could hamper too. I advise every person make an evaluated excessively based on actual situation. Moreover, if you feel that, it is first-rate, then you may move in addition. As from his own review this book wrote high quality concept to provide best service and grow.

Audience

This author is meant for all those readers who would like to understand world knowledge. It will be immensely useful for all categories students who are keen to make a career in all sector.

Prerequisites

We assume the reader has a basic knowledge of business administration and marketing concepts, Science, Economics, Human Resource Management, Creativity, analytical thinking, strategic thinking, and good communication skills are a plus.

Disclaimer & Copyright

All the content and graphics published in this e-book are the property of Hayat Mahmud. The user of this e-book is prohibited to reuse, retain, copy, distribute or republish any contents or a part of contents of this e-book in any manner without written consent of the publisher.

Author strive to update the contents as timely and as precisely as possible, however, the contents may contain inaccuracies or errors. Author provides no guarantee regarding the accuracy,

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1.1 Why Operation Research Should Use for Any Companies? To not Using Any Method but If Any Companies Use Operation Research Technique, Then They Can Generate More Profit Also by doing Minimization and Maximization Technique Can Expand Their

Companies.

Operation Research comes mainly from England and was first developed in England. Operations research, very important part for any organization. After the second world war, the operations research was developed. Nowadays, most of the companies do not use the operations research method to make more profit for each company. However, it is mandatory to use operations research in every company. Operations research is a method to minimize and maximize profit for any business. Whether it is a larger company or a small company. Not only in developing countries, but also in many developed countries, the concept of operations researches method is not applied. If a larger company uses the operations research method or technique, it can make more money. There are many parts of operations research, such as minimization and maximization.

Minimization:

There are many small enterprises that are not able to run their business well, they try to minimize the profit. Enterprises don’t focus on too much flexibility of employees or too much corporate responsibility or something. They focus mainly on minimizing their profit, and then when they make a profit, they can invest in the future. That’s only the case for small companies.

Minimization can also apply to any large company. Let’s take a UK college or university as an example in 2009, at that time the rules and regulations were too strict, and because of the strict regulations, many colleges and universities were closed. Before that, they did a lot of business, but they were not able to do business at that time. For this reason, these colleges and universities were closed. Before they were closed, they realized that their business would be closed, and they tried to minimize their profit because they knew that the business would be closed.

Maximization:

The maximization technique is used with large companies. These large companies have many employees and want to make more profit. They use the maximization technique. These companies are big companies that offer flexibility to their employees and spend too much money on advertising and many other things. They certainly do not generate money, but after a certain period of time, they have earned all their money. In this situation, most companies apply maximization techniques. If I take an example of Google, I can say that Google hires so many employees around the world and tries to give incentives and money based on the knowledge of the employees. In this situation, they also invest for all other people. A higher company like Google maintains the maximization techniques. I can give another example of British American Tobacco Company. This company explores the whole world and gets so much money from the market. British American Tobacco Company uses maximization technique to get more profit. Maximization techniques involve losses, but the big company does not care about fewer losses or anything. Because they make much more money on the other side and that is why they always use maximization technique. These companies like to use the practice of human resource management, that is, they are very big companies. In this sense, I can say that these companies use HRM practices, to a great extent, to apply the maximization technique. Another example is the American International University in Bangladesh. This university is a very big and renowned university in Bangladesh. It admits so many students and talented students study in this university. It practices careful human resource management. The number of staff is also very high. This company also uses the technique of maximization.

LP model

If we try to make a graph, then we can see the LP model with the help of the technique. In the LP model, there is a feasibility study. For minimization and maximization, the feasibility study will be the winning area. This generation is very advanced technologically and can do feasibility study using operation research methods or any systematic type of operation research software.

Analysis

Operating resources, systematic scientific study that all of us enterprises need to use to minimize or maximize our profit. Without good knowledge and expertise, director or top management can not imagine how operation research help for enterprises to survive and develop more profit for each company. For any organization, in our city, or those who want to develop their business very strong, they should use Operation Research widely. By using operations research technique, companies can save a lot of money. We use many models, but they are not accurate. To do business and make profits or generate more revenue, I recommend all companies that want to expand their business and make more money to use operation research techniques such as minimization and maximization. There is so much software that has been developed as operation research theory. Those who don’t know this yet don’t know anything about Operations Research practice or software. I must suggest them to use the operations research method and operations research software.

1.2 What Is Marketing? Why Marketing Is So Important for Any Business? How To Set Up Business and To Do Business Moreover Why PEST Analysis Is So Important?

What is marketing?

Marketing means building a close relationship with the customer. Whenever we think about a business, marketing comes first. Without marketing, we cannot develop good business practices for a company. Marketing is a crucial part for any business organization. We used to practice marketing long time ago, but in recent times marketing is practised in all developing and developed countries. Whenever we talk about any business, we should always do marketing in the next step. Marketing has so many tactics and strategies. By using this strategy, a business can reach a top position.

In order to build a business. We should analyse four things:

Marketing mix

Product

Place

Price

Promotion

Product:

Whenever we want to open a new business, the first thing we need to do is to determine the product. Before the product, we need to analyses the raw material and what we need to adapt as the raw material to make the product. So the product comes first when we need to deliver a business to the customers and satisfy the demand of the customers.

Place:

After the product, we need to find out where the store will be located so that I can give an example of a fashion store. If I want to sell a dress to the customer, I need to find the place where I can store these products.

Price :

After the location, we need to analyses the pricing. Because we have advertising cost, labour cost and so on. So we have to set the price. And finally, we need to measure our profit, that is, how much profit we want to make. Pricing is a very sensitive issue for any company. Suppose our delivery cost is not too high, but if we make too much profit, it will affect our reputation. Based on the economic system, we need to set the price so that it is desirable for customers. Enterprises should set the price based on customers’ ability.

Advertising:

After everything has been measured, companies should advertise their products, because without advertising, we can’t give our information to customers. So the customer should know what product the company provides for them. When we advertise or when we put a pop-up notification or an advertisement through a channel network. In this situation, customers will get information about the products, and then they will buy the company’s product.

PEST Analysis:

After marketing mix, we need to do PEST analysis. PEST has four terms:

1.Political

2.Economic

3.Social

4.Technical