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Flush The flowchart in Figure 108 shows how to calculate the cube root of a number a using Newton’s method, where x is the guess for the cube root of a, and δ indicates how accurate the result must be. The procedure will follow around the loop until |x3 – a| < δ. “Start” and [...]

We need simply three constructs to solve any problem. 1) Things should be executed sequentially. That means the statements are executed in a sequence i.e. the second statement follows the first and so on. 2) We need to have a decision. The decision means if something is true, the program executes it. Otherwise, it tries [...]

In general, we should minimize the use of break statement in loops. The switch statement is an exception in this regard where it is necessary to use the break statement after every case. Otherwise, there may be a logical error. While writing loops, we should try to execute the loops with the condition test and [...]

Up to now we have covered the basic programming constructs. These include sequences, decisions and repetition structures (i.e. loops). In sequences, we use the simple statements in a sequence i.e. one after the other. In decisions construct we use the if statement, if/else statement, the multi way decision construct (i.e. the switch statement). And in [...]

In every day life, we are often making decisions. We perform different tasks while taking decisions. For example, the statement ‘if the milk shop is open, bring one liter of milk while returning home from college’, involves this phenomenon. In this statement, there is an element of decision making. We bring one litre of milk [...]

Entrepreneurship is that ability in which an individual tries to find the opportunity, take risk and avail these opportunities. Who are Entrepreneurs? People have more entrepreneurial abilities who: Have aspiration Have more practical strategies to be implement Have the vision Understanding the environment Being visionary and flexible Creating management options Encourage teamwork while employing a multi‐disciplined approach Encouraging open discussion 6. Building a coalition of supporters. Characteristics of Entrepreneurs Personal Interest This personal interest can be of two common types: Interest for their own personality development Interest of their financial growth at market place Customer Relationship building There can be two types of customer relation ship building as under: Transactional MarketingThis type of marketing is based on only one transaction, just to get the financials & provide products in return to customers. (Its some how a traditional approach of customer relationship management) Relationship MarketingThis type of marketing based on long term service provision for the customer, to get order once from your customer, fulfill that order in best possible manners, provide after sales services in order to retain that customer for longer period of time (it is based on modern customer relationship management techniques) Entrepreneurs strongly follow the second type of relationship building with this customer to get long run benefit in order to enhance their business. Simple E.g. can of of Doctors in a specific community, Mechanics, Hair dresser etc. Desire to establish own business Some persons have strong & dominant personality traits & they want to establish their own business instead of working under supervision of any one else so this leads them towards entrepreneurship establishment. They have strong decision making power & risk taking ability which helps them a lot to be an entrepreneur. Need of control Some people want them to be involved in every decision making of their business prospects so this aspect leads them be an entrepreneur. Ability to deal with uncertainties Some persons are daring enough in their professional attitude; they feel they can easily deal with uncertainties while designing best strategies for crunch situations so they move for entrepreneurship. BUSINESS PLAN FOR ENTREPRENEURS Business plan is a written document which contains the objectives of the business and the ways to achieve these objectives. A good business plan must be developed in order to exploit the opportunity defined. A good business plan is important in developing the opportunity and in determining the resources required, obtaining those resources and successfully managing the venture. The term business plan is made of two words “business” and “plan”. By understanding each we will try to arrive at some usable definition of business plan Business: “Any economic activity undertaken on regular basis to earn profit by combining resources and delivering value to society/market in response of whose unmet need it is started and run”. Plan: “Simply it is the product or result of planning or it can be defined as it is a document or piece of thought which answers the basic questions of planning”. If plan is so then what is planning? Situations for Entrepreneurial business There are two situations: Buying a business Starting from the scratch Most of the entrepreneurs always like to start their business right from scratch & develop their own strategies to run the business so our discussion will move around those entrepreneurs who start their businesses from scratch. COMPONENTS OF BUSINESS PLAN Since every business organization either small medium or large always have business plan so same is true for entrepreneurial business as well. Basic theme of business plans is always “ways to go & how to go”. All areas of SWOT analysis are also covered in the business plan. Objectives of the business The basic purpose of any business plan is to answer following questions: Name of the business Name should indicate the type of business Name should be simple Uniqueness of name Location of the business Legal considerations Avoid the names not encouraged by the law. e.g. National Heroes, religious personalities etc. Marketing Component of the business This part of business plan covers following aspects: Who will be the target customers for those products Where are they located? Inspection [...]

Business organization is an act of grouping activities into effective cooperation to obtain the objective of the business. In the words of L. H. Haney “It is more or less independent complex of land, labour and capital, organized and directed for productive purposes but entrepreneurial ability.” SCOPE OF BUSINESS ORGANIZATION The scope of business organization can be defined as under: Scope of Business Organization Sole    Partner‐ Joint  Co‐operative  Combination Proprietor‐     Ship  Stock    Societies Ship                      Company 1. SOLE PROPRIETORSHIP According to D.W.T. Stafford “It is the simplest form of business organization, which is owned and controlled by one man” Sole proprietorship is the oldest form of business organization which is owned and controlled by one person. In this business, one man invests his capital himself. He is all in all in doing his business. He enjoys the whole of the profit. The features of sole proprietorship are: Easy Formation Unlimited Liability Ownership Profit Management Easy Dissolution 2. PARTNERSHIPAccording to Partnership Act, 1932 “Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.” Partnership means a lawful business owned by two or more persons. The profit of the business shared by the partners in agreed ratio.  The liability of each partner is unlimited. Small and medium size business activities are performed under this organization. It has the following features: Legal Entity Profit and Loss Distribution Unlimited Liability Transfer of Rights Management Number of Partners 3. JOINT STOCK COMPANY According to S. E. Thomas “A company is an incorporated association of persons formed usually for the pursuit of some commercial purposes” A joint stock company is a voluntary association of persons created by law.  It has a separate legal entity apart from its members.  It can sue and be sued in its name. In the joint stock company, the work of organization begins before its incorporation by promoters and it continues after incorporation. The joint stock company has the following feature: Creation of Law Separate Legal Entity Limited Liability Transferability of shares Number of Members Common Seal 4. COOPERATIVE SOCIETIES According to Herrik “Cooperation is an action of persons voluntarily united for utilizing reciprocally their own forces, resources or both under mutual management for their common profit or loss.” Cooperative Societies are formed for the help of poor people.  It is formed by economically weak persons of the society.  In this form of organization, all members enjoy equal rights of ownership. The features of cooperative society are as under:‐ Easy Formation Protection of Mutual Interest Limited Liability Equal Distribution of Wealth Equal Rights 5. COMBINATION [...]

d) Analysis by Preferred Stockholders If convertible, interest of preferred stockholders is similar to those of common one. If not, then their interest is similar to that of long-term creditors. Dividend Coverage Ratio: = Net income . Amount of annual preferred dividend Normal Ratio: 5 to 10 Note: Ratios should be used with other elements [...]

A system is considered to be a legacy system if it has been in operation for many years. A legacy system has many components. These include business processes, business rules, application software, application data, support software, and system hardware. Maintaining Legacy System Maintaining legacy system is expensive. It is often the case that different parts [...]

Line Drawing Techniques 5.1 Line A line, or straight line, is, roughly speaking, an (infinitely) thin, (infinitely) long, straight geometrical object, i.e. a curve that is long and straight. Given two points, in Euclidean geometry, one can always find exactly one line that passes through the two points; this line provides the shortest connection between [...]