know about small business loan SBA 7 (a).
This Loan is the most popular in United States of America.
In SBA 7 (a) loan program, you may have loans up to $ 5 million, up to 25 years, at low interest rate 2.25%. are you searching for small business loans, then SBA 7 (A) loan will be best for you. Here is your comprehensive guide on all things about SBA 7 (a) Loan The lenders approve small business owners for loan. SBA 7 (A) Loan is the most flexible and most popular loan programs. Stable business owners can qualify for $ 5 million in financial assistance and can use money for almost any business purpose. you enjoy low interest rates and long term on SBA finance. SEA 7a loan. There are several types of 7 (a) loan and credit lines under various types of SBA 7 (A) programs. The main difference in different types of loan types is the use of debt quantity, processing times, and funds. Here, SBA 7 (a) are different types of loans. First is Standard 7 (a) Debt 7 and second is Traditive SBA 7 ( A) Loans. Standard 7 (a) Loans can be up to $ 5 million, and you can be used for a variety of business reasons, if you have a standard 7 (a) loan, whether you want to increase your business. Or need additional working capital. . On standard loan, the SBA will review your application and give you an initial approval decision within 5 to 10 business days. Conversation of interest rates for the buyers and lenders standard 7 (a) interest rates Yes, but they will never get more than the maximum size of the SBA. In addition, for this kind of SBA 7 (a) loan, the lenders do not need to take a ground for more than $ 25,000 loans. For over $ 25,000 loans, the SBA needs to follow the same mutual policies to the lenders that they use for non-SBA loans. 2 SBA 7 (a) Small Qualifications B A7 (a) Small loans are standard 7 (a) like debt, but the maximum amount of debt is $ 350,000. Such SBA 7 (A) loan operations, like exactly the standard 7 (a) loan, in addition to assessing creditors' creditability .SEA 7 (a) for small loans, personal credit, business credit, And SBA PCCCC applicants based on the financial institutions. If you move the screen, the lenders will track your request. If you do not have a screen, you will need to go through the write-down process under more stringent standard 7 (a). # 3. SBA Express Qarbasis BA Express is available for $ 350,000, a time Provides instant transmission for small enterprises in a sensitive ban. Instead of 5 to 10 business days, SBA will review your application and make you initial approval
Why insurance is necessary
for any individual or business, project and any startup
read more information below.
Insurance is a risk prevention financial product that reduces the different types of risks. Apart from protecting individuals and businesses from many types of risks, insurance sector encourages the habit of savings among people and generates employment for millions, how insurance protect risk taken and security to individuals and entrepreneurs: Insurance provides financial assistance and reduces uncertainty among businesses and in our lives. In case of business insurance, protect from fire, theft, accidents and other natural calamity accidents, are provided financial compensation against financial loss: The insurance companies created the wealth through the premium which collect from policyholders. the premium which collect from policyholders is invested in long-term infrastructure projects such as road, port, power plant, dam, which are important for the development of the nation. Increasing large investment jobs opportunities in the economy to establish capital. Promotes economic growth: Through the mobility of domestic savings, the overall economy has a major impact on the insurance sector. Insurance collected investment turns into productive investment. The loss of insurance helps to reduce the financial stability and promote commercial and business activities, resulting in sustainable economic development and development. In this way, insurance is an important role in the continued growth of the economy .Healthy Emer provides support to families during sex enforcement: Family goodness is important for everyone and the health of family members is the most worried. During ensuring the welfare of the families, jobs play an important role from the elderly parents to the children, medicines and hospitals. The increasing cost of medical treatment and the rising prices of medicines is sufficient enough to eliminate your savings. Any unpredictable serious illnesses (such as heart attack, stroke, cancer, etc.). And growing medical expenses are a matter of concern. Medical insurance is a policy that economically protects people against various types of health risks. With a health insurance policy, a disease provides financial aid to a medical emergency: Insurance insurance allows insurance to increase the risk of damage. The basic principle of insurance is spreading a large number of people. A large population receives insurance policy and premises insurance for insurance. Whenever there is any harm, it is given compensation from the song policyholders.
WHAT IS ECONOMIC DEVELOPMENT IMPORTANT ROLE AND GOAL
The scope of economic developmentincludes the process and policies by which a nation improves the economic, political,and social well-being of its people.
Economic development is the process by
which a nation improves the economic, politics, and social well-being of its citizen. The term Economic development frequently used by economists, politicians,
and others in the 20th and 21st centuries. "Modernization, "westernization", and "industrialization" are the terms often used while discussing economic development. Economic development has a direct relationship with the environment and environmental issues.
Economic development is a policy which increase the market productivity and rise in GDP. Consequently, as economist Amartya Sen points out, "economic growth is one aspect of the process of economic development". economic development has been understood since the World War II to involve economic growth, namely the increases in per capita income, Economic development originated in the post-war period of reconstruction initiated by the United States. More than half the people of the world are living in conditions approaching misery. Their food is inadequate, they are victims of disease. Their economic life is primitive and stagnant. the systematic, long term government investments in transportation, housing, education, and healthcare are necessary to ensure sustainable economic growth in emerging countries. Economic growth deals with increase in the level of output, but economic development is related to increase in output coupled with improvement in social and political welfare of people within a country. Therefore, economic development encompasses both growth and welfare values. According to Ranis et al, economic growth and development is a two-way relationship. the first chain consists of economic growth benefiting human development, since economic growth is likely to lead families and individuals to use their heightened incomes to increase expenditures, in second chain human development. At the same time, with the increased consumption and spending, health, education, and infrastructure systems grow and contribute to economic growth.
The relationship between human development and economic development can be explained in three ways. First, increase in average income leads to improvement in health and nutrition known as Capability Expansion through Economic Growth.
Second, social outcomes can only be improved by reducing income poverty known as Capability Expansion through Poverty Reduction.
Third, social outcomes can also be improved with essential services such as education, healthcare, and clean drinking water known as Capability Expansion through Social Services.
With more than 20,000 professional economic developers employed worldwide in this highly specialized industry, the International Economic Development Council (IEDC) headquartered in Washington, D.C. is a non-profit organization dedicated to helping economic developers do their job more effectively and raising the profile of the profession. With over 4,500 members across the US and internationally, serving exclusively the economic development community, IEDC membership represents the entire range of the profession ranging from regional, state, local, rural, urban, and international economic development organizations, as well as chambers of commerce, technology development agencies, utility companies, educational institutions, consultants and redevelopment authorities. Many individual states also have associations comprising economic development professionals, who work closely with IEDC.
economic developers facilitate the process for existing businesses and start-ups to do so. Therefore, the economic developer must make sure that there are sufficient economic development programs in place to assist the businesses achieve their goals.
Meaning of Constitution term SOVEREIGN,
SOCIALIST, SECULAR, DEMOCRATICand REPUBLIC was the constitution historical underpinnings, The preamble of the Constitution is the heart and soul of the
Constitution. The preamble can be referred to as the preface which highlights the entire Constitution. As originally enacted the preamble described the state as a "sovereign democratic republic", to which the terms "Secular" and "Socialist"
WE, THE PEOPLE OF INDIA, having solemnly resolved to constitute India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC and to secure to all its citizens
JUSTICE, social, economic and political;
LIBERTY of thought, expression, belief, faith and worship;
EQUALITY of status and of opportunity; and to promote among them all
FRATERNITY assuring the dignity of the individual and the unity and integrity of the Nation;
IN OUR CONSTITUENT ASSEMBLY this 26th day of November, 1949, do HEREBY ADOPT, ENACT AND GIVE TO OURSELVES THIS CONSTITUTION.
Sovereignty means the independent authority of a State. It means that it has the power to legislate on any subject; and that it is not subject to the control of any other State or external power. the word ‘sovereign’ is taken from article 5 of the constitution of Ireland. Sovereignty has two aspects- external and internal.
External sovereignty means the independence of a country of the will of other country in international law.
Internal sovereignty means the relationship between the states and the individuals within its territory. Internal sovereignty relates to internal and domestic affairs, and is divided into four organs, namely, the executive, the legislature, the judiciary and the administrative.
The term socialist means to democratic socialism, i.e. achievement of socialist goals through democratic, evolutionary and non-violent means. through distributive justice, not concentrated in the hands of few, and that the government should regulate the ownership of land and industry to reduce socio-economic inequalities.
By the 42nd Amendment in 1976, the term "Secular" was also incorporated in the Preamble. the term "Secular" means There is no difference of religion i.e. all religion are equally respected and there is no state religion. All the citizens of India are allowed to profess, practice and propagate any religion.
The term Democratic means that The people of India elect their governments by a system of universal adult franchise, known as "one man one vote". Every citizen of India 18 years of age and above and not debarred by law is entitled to vote. The word 'democratic' not only refers to political but also to social & economic democracy.
The Word Republic means the head of state is elected and not a hereditary monarch. the republic is an entity in which the head of state is elected, directly or indirectly, for a fixed tenure. Thus, India has a President who is elected and has a fixed term of office for the five years.
India seeks social, economic and political justice to ensure equality to its citizens.
Social Justice means the absence of socially privileged classes in the society and no discrimination against any citizen on the basis of caste, creed, color, religion, gender or place of birth. India eliminating all forms of exploitations from the society.
Economic Justice means no discrimination between man and woman on the basis of income, wealth and economic status. equitable distribution of wealth, economic equality, the end of monopolistic control over means of production and distribution, decentralisation of economic resources, and the securing of adequate opportunities to all for earning their living.
Political Justice means equal, free and fair opportunities for the all indian citizen to participate in the political process. It grant of equal political rights to all the people without discrimination. The Constitution of India provides for a liberal democracy in which all the people have the right and freedom to participate.
Liberty means The idea of Liberty refers to the freedom on the activities of Indian citizens in term of what they think, their manner of expressions and the way they wish to follow up their thoughts in action. However, liberty does not mean freedom to do anything, and it must be exercised within the constitutional limits.
Equality envisages that no section of the society enjoys special privileges and individuals are provided with adequate opportunities without any discrimination: all are equal before the law.
Fraternity refers to a feeling of brotherhood and a sense of belonging with the country among its people. It leaves no room for regionalism, communalism, casteism etc., which hinders the Unity of the State.
The Preamble declares that fraternity has to assure two things—the dignity of the individual and the unity and integrity of the nation.
Know The Fundamentals Of Operation Management
Operations management is the branch ofmanagement which deals with designing and controlling the process of the production of goods and services. Operations management main function is
to ensuring the business operations as efficient as possible by using as few resources as needed and meeting the production and product quality as per customer requirements. Operations management primarily function is to planning, organizing and supervising of the production, manufacturing or to deliver services. It deals with managing an entire production system. Operation management covers sectors like banking systems, hospitals, companies, working with suppliers, customers, and using technology. Operations is one of the major functions in an organization along with supply chains, marketing, finance and human resources. The operations management manages of both the strategic and day-to-day production of goods and services.
In managing manufacturing or service operations several types of decisions are made including operations strategy, product design, process design, quality management, capacity, facilities planning, production planning and inventory control. Each of these requires an ability to analyze the current situation and find better solutions to improve the effectiveness and efficiency of manufacturing or deliver the service.
The history of production and operation systems began around 5000 B.C. when Sumerian priests developed the ancient system of recording inventories, loans, taxes, and business transactions. The next major historical application of operation systems occurred in 4000 B.C. It was during this time that the Egyptians started using planning, organization, and control in large projects such as the construction of the pyramids. By 1100 B.C.,
In 1883, Frederick Winslow Taylor introduced the stopwatch method for accurately measuring the time to perform each single task of a complicated job. He developed the scientific study of productivity and identifying how to coordinate different tasks to eliminate wasting of time and increase the quality of work. The next generation of scientific study occurred with the development of work sampling and predetermined motion time systems (PMTS).
Service Industries: At the turn of the twentieth century, the services industries were already developed, but largely fragmented. In 1900 the U.S. service industry consisted of banks, professional services, schools, general stores, railroads and telegraph. Services were largely local in nature and owned by entrepreneurs and families.
In 1911 Taylor published "The Principles of Scientific Management", in which he characterized scientific management as:
1-The development of a true science;
2-The scientific selection of the worker;
3-The scientific education and development of the worker;
4-Intimate friendly cooperation between the management and the workers.
In 1983 J.N Edwards published his "MRP and Kanban-American style" in which he described JIT goals in terms of seven zeros:] zero defects, zero (excess) lot size, zero setups, zero breakdowns, zero handling, zero lead time and zero surging. This period also marks the spread of Total Quality Management (TQM) in Japan, ideas initially developed by American authors such as Deming, Juran and Armand V. Feigenbaum. TQM is a strategy for implementing and managing quality improvement on an organizational basis, this includes: participation, work culture, customer focus, supplier quality improvement and integration of the quality system with business goals. Schnonberger identified seven fundamentals principles essential to the Japanese approach:
1-Process control: SPC and worker responsibility over quality
2-Easy able -to-see quality: boards, gauges, meters, etc. and poka-yoke
3-Insistence on compliance: "quality first"
4-Line stop: stop the line to correct quality problems
5-Correcting one's own errors: worker fixed a defective part if he produced it
6-The 100% check: automated inspection techniques and foolproof machines
7-Continual improvement: ideally zero defects
In 1987 the International Organization for Standardization (ISO), recognizing the growing importance of quality, issued the ISO 9000, a family of standards related to quality management systems. There standards apply to both manufacturing and service organizations. There has been some controversy regarding the proper procedures to follow and the amount of paperwork involved, but much of that has improved in current ISO 9000 revisions.
Operations strategy concerns policies and plans of use of the firm productive resources with the aim of supporting long term competitive strategy. Metrics in operations management can be broadly classified into efficiency metrics and effectiveness metrics. Effectiveness metrics involve:
1- Price (actually fixed by marketing, but lower bounded by production cost): purchase price, use costs, maintenance costs, upgrade costs, disposal costs
2- Quality: specification and compliance
Time: productive lead time, information lead 3- time, punctuality
4- Flexibility: mix, volume, gamma
5- Stock availability
6- Ecological Soundness: biological and environmental impacts of the system under study.
Operations management usually cover demand forecasting, even though Demand forecasting is also a critical part of push systems, since order releases have to be planned ahead of actual clients orders. Also any serious discussion of capacity planning involves adjusting company outputs with market demands.
Know The Management Definition And Objectives
Management is the process in which weattain organizational goals in an effective and efficient manner through planning, organizing, staffing, directing and controlling organizational financial,
machines and materials, natural, technological, and human resources.
Management is the administration of an organization, whether it is a business organization , a non profit organization, or a government body. Management incorporate the activities of setting the
strategy of an organization and coordinating the efforts of its employees to accomplish the organization goal or objective through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.
Larger organizations generally have three levels of managers, these are, Senior managers, Middle managers and Lower managers.
Senior managers are the top lavel mangement members. these are the members of a Board of Directors and a Chief Executive Officer (CEO) or a President of an organization. They set the strategic goals of the organization and make decisions on how the overall organization will operate. Senior managers are generally executive-level professionals, and provide direction to middle management who directly or indirectly report to them.
Middle managers, examples of Middle managers are branch managers, regional managers, department managers and section managers, who provide direction to front-line managers. Middle managers communicate the strategic goals of senior management to the front-line managers.
Lower managers are, such as supervisors and front-line team leaders, oversee the work of regular employees or a volunteers, in some voluntary organizations and provide direction on their work.
Management involves identifying the mission, objective, procedures, rules and manipulation of the human capital of an enterprise to contribute to the success of the enterprise.
According to Henri Fayol, management consist of six functions: these are to forecast, to planning, to organizing, to commanding, to coordinating and to controlling."
According to Mary Parker Follett defined management as "the art of getting things done through people". She described management as philosophy.
According to Fredmund Malik defined management as "the transformation of resources into utility." to increase production with the help of machines, materials and money.
Ghislain Deslandes defines management as “a vulnerable force, under pressure to achieve results and endowed with the triple power of constraint, imitation and imagination, operating on subjective, interpersonal, institutional and environmental levels”
Peter Drucker saw management as twofold: marketing and innovation.
The primary function of profitable organization is to making a profit for its stakeholders and shareholders by creating valued products at a reasonable price for customers and providing great employment opportunities for employees.
In nonprofit organization the main role of management is the keeping the faith of donors and shareholders. In nonprofit organization shareholders vote for the board of directors, and then board hires the senior management.
Management and leadership skills are needed in every industry and every walk of life. It is essential therefore for new managers to be provided with opportunities to learn how to manage and lead people.