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How to Make a Mission Shaving Stand This attractive and useful piece of mission furniture will be appreciated by the person that does his own shaving. The shaving stand can be made at home by a handy man in his spare time as the stock can be ordered from a mill ready for making the [...]

How will the message of the business be promoted in the general public? How will the business be launched?  PROMINENT FEATURES OF DR. DEMMING’S 14 POINTS FRANCHISING It is defined as: “An agreement between two parties in which one party passes on the rights to the other party.” Or “A contractual license granted by one person (the franchisor) to another (the franchisee).” Rights of franchisee includes 3. Right to use the trade mark. 4. Right to use the name. 5. Right to use systems, methods and researches. 6. Right to use packing material. Parties to Franchise agreement There are two parties involved in a franchise agreement d) Franchiser Party or person, who grants the right to sell/offer its products & services under its own trade name,. e) Franchisee Franchisee is being granted from franchiser to provide representational rights to sell or manufacture goods or to provide service or to undertake any process identified with franchiser against an agreed fee or consideration including royalty, whether or not a trade mark, service mark, trade name or logo or any such symbol , as the case may be is involved. Advantages of Franchising Franchiser gets a large amount of money from franchisee as fee while using its name. Franchisee gets access to big business. Failure rate of franchise business is lower than any other business. Franchisee uses world wide tested brand and tested procedures that is why failure rate is lower in this type of business. Franchiser provides guidance to franchisee in all affairs of the business. Choice of location Franchiser is always there to support the franchisee in all kinds of matters. Disadvantages of Franchising High cost. Proportionate profit is given to franchiser by franchisee every year. There are too many restrictions from franchiser on the franchisee. NEW TRENDS IN THE BUSINESS E‐Commerce or E‐Business E‐commerce, (electronic commerce), is online commerce verses real‐world commerce. E‐commerce includes retail shopping, banking, stocks and bonds trading, auctions, real estate transactions, airline booking, movie rentals, nearly anything you can imagine in the real world. Even personal services such as hair and nail salons can benefit from e‐commerce by providing a website for the sale of related health and beauty products, normally available to local customers exclusively. Women in businessSo many women have come in so many areas of business. Business will be better displayed, well mannered staff, more knowledge of the needs of customers and more market oriented. GLOBAL OPPORTUNITIES People have the awareness of global market. Internet has played major role in accessing global markets. In Pakistan, people got huge success globally but could not make a brand name in global market. Factors for lower failure rate Government’s preferences and priorities. Government is convinced to support corporate sector. Businesses are now being set up on more professional grounds. Support from financial institutions. General economy of the country. People are acquiring professional knowledge about business. Government has developed many training centre to train people related to business.  Skills development. Institutions to develop man power.

Partners can be classified into different kinds, depending upon their extent of liability, participation in management, share of profits and other facts. 1. Active Partner A partner who takes active part in the affairs of business and its management is called active partner.  He contributes his share in the capital and is liable to pay the obligations of the firm. 2. Secret Partner A partner who takes active part in the affairs of the business but is unknown to the public as a partner is called secret partner.  He is liable to the creditors of the firm. 3. Sleeping Partner A partner who only contributes is the capital but does not take part in the management of the business is known as sleeping partner.  He is liable to pay the obligations of the firm. 4. Silent Partner A partner who does not take part in the management of business but is known to the public as partner is called silent partner.  He is liable to the creditors of the firm. 5. Senior Partner A partner who invests a large portion of capital in the business is called senior partner.  He has a prominent position in the firm due to his experience, skill, energy, age and other facts. 6. Sub‐Partner A partner in a firm can make an agreement with a stranger to share the profits earned by him from the partnership business.  A sub‐partner is not liable for any debt and can not interfere in the business matters. 7. Junior Partner A person who has a small investment in the firm and has a limited experience of business is called junior partner. 8. Major Partner A major partner is a person who is over 18 years of age.  A person is allowed to make contract when he has attained the age of majority. 9. Minor Partner A person who is minor cannot enter into a valid contract.  However, he can become a partner with the consent of all other partners.  A minor can share profits of a business but not the losses. 10. Nominal Partner A partner who neither contributes in capital nor does he take part in the management of the business but allows he name to be used in the business is known as nominal partner.  He is individually and jointly liable for the debts of the firm along with other partners. 11. Deceased Partner A partner whose life has expired is known as deceased partner.  The share of capital and profit of such partner is paid to his legal heirs in lumpsum or in installment. 12. Limited Partner A partner whose liabilities are limited to his share in business is called limited partner.  He cannot take active part in the management of the firm. 13. Unlimited Partner A partner whose liabilities are unlimited is known as unlimited partner.  He and his personal property both are liable to clear the debts of the firm. 14. Incoming Partner A person who is newly admitted in the firm with the consent of all the partners is called incoming partner.  He is not liable for any act of the firm performed before he became the partner unless he agrees. 15. Retired Partner A partner who leaves the firm due to certain reasons is known as retired partner or outgoing partner.  He is liable to pay all the obligations and debts of the firm incurred before his retirement. 16. Partner is Profits only If a partner is entitled to receive certain share of profits and is not held liable for losses is known as partner in profits only.  He is not allowed to take part in the management of the business. 17. Quasi Partner A person, who was the par4tner of a firm but has now retired from active participation in business and has left his capital in the business as a loan, receiving interest on it, is known as quasi partner. 18. Partner by Estoppel A person who holds himself out as a partner of a firm, before a third party or allows other to do so, though he is not a partner of that firm, is called partner by estoppel or holding out partner. He is not entitled to any right like other partners of the firm. He is not entitled to any right like other partners of the firm.  He is personally liable to the third party for the credit given to the firm, on the faith of his representation. KINDS OF PARTNERSHIP There are three kinds of partnership which are described as under: 1. Partnership at will 2. Particular partnership 3. Limited partnership PARTNERSHIP AT WILL If the partnership is formed for an undefined time, it is called partnership at will.  Any partner can dissolve it at any time by giving the notice. According to Partnership Act, 1932: “If no provision is made in the agreement regarding the partnership, it is called partnership at will.” Partnership at will may be created under the following circumstances: 1. Indefinite Period If partnership has been formed for an indefinite period, it is called partnership at will. 2. Existence after Completion of Venture If partnership has been formed for a particular venture and after completion such venture it remains continue, it becomes a partnership at will. 3. Existence after Expiry of Period If partnership has been formed for a definite time period, so after the expiry of this period, it becomes partnership at will. PARTICULAR PARTNERSHIP [...]

RIBA IN THE QUR’AN 1. First Revelation (Surah al-Rum, verse 39) “That which you give as interest to increase the peoples’ wealth increases not with God; but that which you give in charity, seeking the goodwill of God, multiplies manifold.” (30: 39) 2. Second Revelation (Surah al-Nisa’, verse 161) “And for their taking interest even [...]

There are usually three types of Business: service enterprise merchandise (sale and purchase) enterprise manufacturing enterprises TYPES OF BUSINESS ORGANIZATIONS: Corresponding to three types of business, there are three types of business organizations viz Sole Proprietorship, Partnership firm and Public Limited Companies or Corporations. Different combinations of businesses and business organizations can occur. For example, [...]

A short story may have all the elements of a short novel – complete plot and developed characters – but, because of the lack of space, they tend to be structured quite differently from novels. Some of the key components of a successful short story are: Integrity: It should form a coherent whole. This means [...]

In the creation of a work of art, three main things count: 1.The writer 2.The reader 3.Language  It is impossible to pass over the subject of literature in silence. Literature cannot be segregated from language. Language is the only widely-accepted form of communication and all feelings, emotions and opinions in a piece of literature are [...]

Property lists are used to assign/access properties (attribute-value pairs) of a symbol. The following functions are used to manipulate a property list. To assign a property: (setf (get object attribute) value) To obtain a property: (get object attribute) To see all the properties: (symbol-plist object) Here is an example that elaborates this concept: >(setf (get [...]

The relationship between the number of people and time to develop an application is not linear. It is not as simple as a 120 man-day project can be developed by 1 person working for 120 days or 120 people working for 1 day. The communication and coordination overhead plays a very significant role. As can [...]

Software project planning is an activity carried out by the project manager to estimate and address the following points: Software scope estimation Resources requirements Time requirements Structural decomposition Risk analysis and planning Software scope estimation Software scope describes the data and control to be processed, function, performance, constraints, interfaces, and reliability. Determination of the software [...]

Differentiating RETs from ILFs and EIFs is one of the most activities in FP analysis. Different concepts regarding entities play a pivotal role in this regards. Let us therefore understand what an entity is and what different types of entities are. Entity An entity is defined by different people as follows: A thing that can [...]

The size of the software needs to be estimated to figure out the time needed in terms of calendar and man months as well as the number and type of resources required carrying out the job. The time and resources estimation eventually plays a significant role in determining the cost of the project. Most organizations [...]

Finalizing the Document Once the bulk of your report is written, done, complete, and saved, it is time to make those slight changing to finalize your report. When I say finalize, I don’t mean have a read over it, proof read it, check for spellings, that should have already been done, I mean, putting those [...]

Leasing – IAS 17 Lease (IAS-17) Where goods are acquired other than on immediate cash terms, arrangements have to be made in respect of the future payments on those goods. In the simplest case of credit sales, the purchaser is allowed a period of time (say one month) to settle the outstanding amount and the [...]

COUNTING RULES Permutations Combinations Random Experiment Sample Space Events Mutually Exclusive Events Exhaustive Events Equally Likely Events COUNTING RULES As discussed in the last lecture, there are certain rules that facilitate the calculations of probabilities in certain situations. They are known as counting rules and include concepts of; Multiple Choice Permutations • Combinations We have [...]

WHAT IS STATISTICS? That science which enables us to draw conclusions about various phenomena on the basis of real data collected on samplebasis A tool for databased research Also known as Quantitative Analysis A lot of application in a wide variety of disciplines Agriculture, Anthropology, Astronomy, Biology, Economic, Engineering, Environment, Geology, Genetics, Medicine, Physics, Psychology, [...]

FINAL REVIEW Aims: • To understand the syllabus and content of social psychology in relation to important questions of interest Objectives: To discuss various theoretical concepts of social psychology To describe the link between various concepts of social psychology To discuss the practicality of social psychology concepts Final Review The syllabus of social psychology actually [...]

SOCIAL PSYCHOLOGY APPLIED: SOCIAL PSYCHOLOGY IN CLINIC Aims: • To understand the use of social psychology theories and principles in clinical settings Objectives: To discuss clinician’s biases in making clinical judgments To discuss the relationship of faulty cognitions and mental and physical illness To describe social-psychological approaches to reverse the maladaptive patterns of behavior To [...]

SOCIAL PSYCHOLOGY APPLIED: SOCIAL PSYCHOLOGY IN COURT Aims: • To understand the use of social psychology theories and principles in court and legal settings Objectives: To discuss the persuasiveness of eyewitness testimony. To describe other factors affecting juror’s judgments Section V: Social Psychology Applied Social Psychology Applied is not a separate section as far as [...]

Adversarial Search Up until now all the searches that we have studied there was only one person or agent searching the solution space to find the goal or the solution. In many applications there might be multiple agents or persons searching for solutions in the same solution space. Such scenarios usually occur in game playing [...]

Hill Climbing Hill Climbing is basically a depth first search with a measure of quality that is assigned to each node in the tree. The basic idea is: Proceed as you would in DFS except that you order your choices according to some heuristic measurement of the remaining distance to the goal. We will discuss [...]

Aggression: Aims • To introduce psychological aspects of antisocial (aggressive) behavior Objectives Describe different types of aggression Discuss gender differences in aggression Describe personality differences in aggressive behavior Describe different explanations of aggression Aggression: Chapter Summary This chapter examines the nature of aggression and its consequences. The difficulty of defining aggressive behavior is discussed, and [...]

Artificial Intelligence 1 Introduction This booklet is organized as chapters that elaborate on various concepts of Artificial Intelligence. The field itself is an emerging area of computer sciences and a lot of work is underway in order to mature the concepts of this field. In this booklet we will however try to envelop some important [...]

INTERPERSONAL ATTRACTION (CONTINUE……..) Aims To introduce the concept of interpersonal attraction and related concepts Objectives • To describe the characteristics of others as important factors in interpersonal attraction. • To discuss the situations when social interaction becomes problematic Characteristics of others & attraction The following characteristics of others have been involved in interpersonal attraction: Physical [...]

Attitude Change (Continued……….) Aims Introduce the concept of attitude change Objectives Describe content (communication) and audience (target) variables that influence the effectiveness of persuasive messages Describe central and peripheral routes of persuasion and their effect on attitude strength. Message variables: What is the content? In this section we will study that what makes a message [...]

HISTORICAL COMPARATIVE RESEARCH History has several meanings; one of which could refer to ‘the events of the past.’ Historiography is the method of doing historical research or of gathering and analyzing historical evidence. Historical-comparative research is a collection of techniques and approaches. It is a distinct type of research that puts historical time and /or [...]

ATTITUDES Aims To introduce the concept of attitudes, components, and ways of assessment. Objectives To discuss definition of an attitude and its components To describe direct and indirect methods of assessing attitudes. Discussion about new section “Evaluating Persons and Relationships” of study in Social Psychology Since with the study of Attitudes, a new section is [...]

TOOLS FOR DATA COLLECTION Broadly there are tools of data collection as part of communication surveys. These are: Interview schedule Questionnaire Interview Guide As discussed earlier interview schedule and questionnaires both are predesigned list of questions used for communication with the respondents. In the case of interview schedule, the list of questions remains in the [...]

SURVEY RESEARCH Research Design can be classified by the approach used to gather primary data. There are really two alternatives. We can observe conditions, behavior, events, people, or processes. Or we can communicate with people about various topics, including participants’ attitudes, motivations, intentions, and expectations. The communication approach involves surveying people and recording their responses [...]

MEASUREMENT OF CONCEPTS In everyday usage, measurement occurs when an established yardstick verifies the height, weight, or another feature of a physical object. How well you like a song, a painting, or the personality of a friend is also measurement. In a dictionary sense, to measure is to discover the extent, dimensions, quantity, or capacity [...]