1.
Retail
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Retail markets and shops have a very ancient history, dating back to antiquity. Retailing involves the process of selling goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand is identified through a supply chain, Once the strategic retail plan is in place, retailers devise the retail mix which includes product, price, place, promotion, personnel and presentation. In the digital age, a number of retailers are seeking to reach broader markets by selling through multiple channels. Digital technologies are changing the way that consumers pay for goods. Retailing support services may include the provision of credit, delivery services. Shopping generally refers to the act of buying products, sometimes this is done to obtain final goods, including necessities such as food and clothing, sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing, it not always result in a purchase. Retail shops occur in a range of types and in many different contexts - from strip shopping centres in residential streets through to large. Shopping streets may restrict traffic to pedestrians only, forms of non-shop retailing include online retailing and mail order. Retail comes from the Old French word tailler, which means to cut off, clip, pare and it was first recorded as a noun with the meaning of a sale in small quantities in 1433. Like in French, the retail in both Dutch and German also refers to the sale of small quantities of items. Also see History of merchants, History of the market place, open air, public markets were known in ancient Babylonia and Assyria. These markets typically occupied a place in the towns centre, surrounding the market, skilled artisans, such as metal-workers and leather workers, occupied premises in alley ways that led to the open market-place. These artisans may have sold wares directly from their premises, in ancient Greece markets operated within the agora, and in ancient Rome the forum. In antiquity, exchange involved direct selling, merchants or peddlers, the Phoenicians, noted for their seafaring skills, plied their ships across the Mediterranean, becoming a major trading power by 9th century BCE. The Phoenicians imported and exported wood, textiles, glass and produce such as wine, oil, dried fruit, the Phoenicians extensive trade networks necessitated considerable book-keeping and correspondence. In around 1500 BCE, the Phoenicians developed an alphabet which was much easier to learn that the complex scripts used in ancient Egypt
2.
Industry
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Industry is the production of goods or related services within an economy. The major source of revenue of a group or company is the indicator of its relevant industry, when a large group has multiple sources of revenue generation, it is considered to be working in different industries. Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and this came through many successive rapid advances in technology, such as the production of steel and coal. Following the Industrial Revolution, possibly a third of the economic output are derived that is from manufacturing industries. Many developed countries and many developing/semi-developed countries depend significantly on manufacturing industry, Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence. Industries can be classified in a variety of ways, at the top level, industry is often classified according to the three-sector theory into sectors, primary, secondary, and tertiary. Some authors add quaternary or even quinary sectors, over time, the fraction of a societys industry within each sector changes. Below the economic sectors there are other more detailed industry classifications. These classification systems commonly divide industries according to functions and markets. Market-based classification systems such as the Global Industry Classification Standard and the Industry Classification Benchmark are used in finance, the International Standard Industrial Classification of all economic activities is the most complete and systematic industrial classification made by the United Nations Statistics Division. ISIC is a classification of economic activities arranged so that entities can be classified according to the activity they carry out. The Industrial Revolution led to the development of factories for large-scale production, originally the factories were steam-powered, but later transitioned to electricity once an electrical grid was developed. The mechanized assembly line was introduced to parts in a repeatable fashion. This led to significant increases in efficiency, lowering the cost of the end process, later automation was increasingly used to replace human operators. This process has accelerated with the development of the computer and the robot, historically certain manufacturing industries have gone into a decline due to various economic factors, including the development of replacement technology or the loss of competitive advantage. An example of the former is the decline in manufacturing when the automobile was mass-produced. A recent trend has been the migration of prosperous, industrialized nations towards a post-industrial society and this is manifested by an increase in the service sector at the expense of manufacturing, and the development of an information-based economy, the so-called informational revolution. In a post-industrial society, manufacturing is relocated to more favourable locations through a process of off-shoring
3.
Commerce
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Commerce is the activity of buying and selling of goods and services, especially on a large scale. The system includes legal, economic, political, social, cultural and technological systems that are in operation in any country or internationally, commerce is derived from the Latin commercium, from cum, together, and merx, merchandise. Some commentators trace the origins of commerce to the start of transaction in prehistoric times. Apart from traditional self-sufficiency, trading became a facility of prehistoric people. Historian Peter Watson and Ramesh Manickam dates the history of commerce from circa 150,000 years ago. In historic times, the introduction of currency as a money, facilitated a wider exchange of goods. Numismatists have collections of these tokens, which include coins from some Ancient World large-scale societies. For example, if a man who makes pots for a living needs a new house, he/she may wish to hire someone to build it for him/her. But he/she cannot make an equivalent number of pots to equal this service done for him/her, because if the builder could build the house. During the Middle Ages, commerce developed in Europe by trading luxury goods at trade fairs, wealth became converted into movable wealth or capital. Banking systems developed where money on account was transferred across national boundaries, hand to hand markets became a feature of town life, and were regulated by town authorities. Today commerce includes as a subset a complex system of companies which try to maximize their profits by offering products and services to the market at the lowest production cost
4.
Institutional
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Institutions are stable, valued, recurring patterns of behavior. As structures or mechanisms of social order, they govern the behaviour of a set of individuals within a given community, Institutions are identified with a social purpose, transcending individuals and intentions by mediating the rules that govern living behavior. Primary or meta-institutions are institutions such as the family that are enough to encompass other institutions. As structures and mechanisms of social order, institutions are an object of study in social sciences such as political science, anthropology, economics. Institutions are also a concern for law, the formal mechanism for political rule-making. That is, institutions arise, develop and function in a pattern of social self-organization beyond conscious intentions of the individuals involved, as mechanisms of social interaction, institutions manifest in both formal organizations, such as the U. S. Formal institutions are set forth by a relevant authority and informal institutions are generally unwritten societal rules, norms. Primary or meta-institutions are institutions that encompass many other institutions, both formal and informal (e. g. the family, government, the economy, education, most important institutions, considered abstractly, have both objective and subjective aspects, examples include money and marriage. The subjective experience of money is so pervasive and persuasive that economists talk of the illusion and try to disabuse their students of it. Examples of institutions include, Family, The family is the center of the childs life, the family teaches children cultural values and attitudes about themselves and others - see sociology of the family. Children learn continuously from the environment that adults create, Children also become aware of class at a very early age and assign different values to each class accordingly. Religion, Some believe religion is like an ethnic or cultural category, making it likely for the individuals to break from religious affiliations. Parental religious participation is the most influential part of religious socialization—more so than religious peers or religious beliefs, see sociology of religion and civil religion. Peer groups, A peer group is a group whose members have interests, social positions. This is where children can escape supervision and learn to form relationships on their own, the influence of the peer group typically peaks during adolescence however peer groups generally only affect short term interests unlike the family which has long term influence. Capitalist society may encourage the growth of centralization and interdependence under the control of an elite, socialism encourages democratic, bottom-up control by the people and their communities. Legal systems, Children are pressured from both parents and peers to conform and obey certain laws or norms of the group/community, parents’ attitudes toward legal systems influence children’s views as to what is legally acceptable. For example, children whose parents are continually in jail are more accepting of incarceration, see jurisprudence, philosophy of law, sociology of law
5.
Professional
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A professional is a member of a profession or any person who earns their living from a specified professional activity. In addition, most professionals are subject to strict codes of conduct, Professional standards of practice and ethics for a particular field are typically agreed upon and maintained through widely recognized professional associations, such as the IEEE. Some definitions of professional limit this term to those professions that serve some important aspect of public interest, in narrow usage, not all expertise is considered a profession. Although sometimes incorrectly referred to as professions, occupations such as skilled construction, the completion of an apprenticeship is generally associated with skilled labour, or trades such as carpenter, electrician, mason, painter, plumber and other similar occupations. A related distinction would be that a professional does mainly mental work, although professional training appears to be ideologically neutral, it may be biased towards those with higher class backgrounds and a formal education. His evidence is both qualitative and quantitative, including examinations, industry statistics and personal accounts of trainees. A key theoretical dispute arises from the observation that established professions are subject to strict codes of conduct, some have thus argued that these codes of conduct, agreed upon and maintained through widely recognized professional associations, are a key element of what constitutes any profession. Thus, as people became more and more specialized in their trade, they began to profess their skill to others, with a reputation to uphold, trusted workers of a society who have a specific trade are considered professionals. Ironically, the usage of the word profess declined from the late 1800s to the 1950s, centre for the Study of Professions Organizational culture Professional boundaries Professional sports
6.
Business
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A business is an organizational entity involved in the provision of goods and services to consumers. Businesses may also be social non-profit enterprises or state-owned public enterprises operated by governments with specific social, a business owned by multiple private individuals may form as an incorporated company or jointly organise as a partnership. Countries have different laws that may ascribe different rights to the business entities. The word business can refer to an organization or to an entire market sector or to the sum of all economic activity. Compound forms such as agribusiness represent subsets of the broader meaning. Businesses aim to maximize sales to have their income exceed their expenditures, resulting in a profit, the owner operates the business alone and may hire employees. A sole proprietor has unlimited liability for all obligations incurred by the business, partnership, A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business, the three most prevalent types of for-profit partnerships are, general partnerships, limited partnerships, and limited liability partnerships. Corporation, The owners of a corporation have limited liability and the business has a legal personality from its owners. Corporations can be either government-owned or privately owned and they can organize either for profit or as nonprofit organizations. A privately owned, for-profit corporation is owned by its shareholders, a privately owned, for-profit corporation can be either privately held by a small group of individuals, or publicly held, with publicly traded shares listed on a stock exchange. Cooperative, Often referred to as a co-op, a cooperative is a limited-liability business that can organize as for-profit or not-for-profit, a cooperative differs from a corporation in that it has members, not shareholders, and they share decision-making authority. Cooperatives are typically classified as either consumer cooperatives or worker cooperatives, cooperatives are fundamental to the ideology of economic democracy. In contrast, unincorporated businesses or persons working on their own are not as protected. Franchises, A franchise is a system in which entrepreneurs purchase the rights to open, franchising in the United States is widespread and is a major economic powerhouse. One out of retail businesses in the United States are franchised and 8 million people are employed in a franchised business. Real estate businesses sell, invest, construct and develop properties – including land, residential homes, retailers, wholesalers, and distributors act as middlemen and get goods produced by manufacturers to the intended consumers, they make their profits by marking up their prices. Most stores and catalog companies are distributors or retailers, transportation businesses such as railways, airlines, shipping companies that deliver goods and individuals to their destinations for a fee
7.
Goods
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In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods that are property, and services, which are non-physical. A good is an item that is useful to people but scarce in relation to its demand. In contrast, free goods, such as air, are naturally in abundant supply, commodities may be used as a synonym for economic goods but often refer to marketable raw materials and primary products. Although in economic theory all goods are considered tangible, in reality certain classes of goods, such as information, only take intangible forms. For example, among other goods an apple is an object, while news belongs to an intangible class of goods. Goods may increase or decrease their utility directly or indirectly and may be described as having marginal utility, some things are useful, but not scarce enough to have monetary value, such as the Earths atmosphere, these are referred to as free goods. In economics, a bad is the opposite of a good, Goods diversity allows for their classification into different categories based on distinctive characteristics, such as tangibility and relative elasticity. A tangible good like an apple differs from a good like information due to the impossibility of a person to physically hold the latter. Intangible goods differ from services in that goods are transferable and can be traded. Price elasticity also differentiates types of goods, an inelastic good is one for which there are few or no substitutes, such as tickets to major sporting events, original works by famous artists, and prescription medicine such as insulin. Complementary goods are generally more inelastic than goods in a family of substitutes and this is because hamburger buns and beef are complementary goods. It is important to note that goods considered complements or substitutes are relative associations, the following chart illustrates the classification of goods according to their exclusivity and competitiveness. Goods are capable of being delivered to a consumer. Goods that are economic intangibles can only be stored, delivered, Goods, both tangibles and intangibles, may involve the transfer of product ownership to the consumer. Services do not normally involve transfer of ownership of the service itself, for example, distributing electricity among consumers is a service provided by an electric utility company. While the service is a process that remains in its entirety in the ownership of the service provider. The consumer becomes electric energy owner by purchase and may use it for any lawful purposes just like any other goods, fast-moving consumer goods Final goods Intangible asset Intangible good List of economics topics Goods and services Service Tangible property Bannock, Graham et al
8.
Consumer
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A consumer is a person or organization that uses economic services or commodities. In economic systems consumers are utilities expressed in the decision to trade or not, the consumer is the one who pays to consume goods and services produced. As such, consumers play a role in the economic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce, the consumer also forms part of the chain of distribution. The law primarily uses the notion of the consumer in relation to protection laws. As of all voters are also consumers, consumer protection takes on a clear political significance. Concern over the interests of consumers has also spawned activism, as well as incorporation of consumer education into school curricula, there are also various non-profit publications, such as Which. Consumer Reports and Choice Magazine, dedicated to assist in education and decision making. In India, the Consumer Protection Act 1986 differentiates the consummation of a commodity or service for use or to earn a livelihood. Only consumers are protected per this act and any person, entity or organization purchasing a commodity for commercial reasons are exempted from any benefits of this act, U. S. Government National Consumer Protection Week
9.
Break bulk cargo
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In shipping, break bulk cargo or general cargo are goods that must be loaded individually, and not in intermodal containers nor in bulk as with oil or grain. Ships that carry this sort of cargo are often called general cargo ships, the term break bulk derives from the phrase breaking bulk—the extraction of a portion of the cargo of a ship or the beginning of the unloading process from the ships holds. These goods may not be in shipping containers, break bulk cargo is transported in bags, boxes, crates, drums, or barrels. Unit loads of items secured to a pallet or skid are also used, a break-in-bulk point is a place where goods are transferred from one mode of transport to another, for example the docks where goods transfer from ship to truck. Break bulk was the most common form of cargo for most of the history of shipping, since the late 1960s the volume of break bulk cargo has declined dramatically worldwide as containerization has grown. Moving cargo on and off ship in containers is much more efficient, break bulk cargo also suffered from greater theft and damage. When the ship arrives the cargo is then taken from the warehouse to the quay, the discharge of the ship is the reverse of the loading operation. Loading and discharging by break bulk is labour-intensive, the cargo is brought to the quay next to the ship and then each individual item is lifted on board separately. Some items such as sacks or bags can be loaded in batches by using a sling or cargo net, once on board each item must be stowed separately. Before any loading takes place, any signs of the cargo are removed. The holds are swept, washed if necessary and any damage to them repaired, dunnage is laid ready for the cargo or is just put in bundles ready for the stevedores to lay out as the cargo is loaded. There are many sorts of bulk cargo but amongst them are, Bagged cargo is stowed on double dunnage and kept clear of the ships sides. Bags are kept away from pillars and stanchions by covering it with matting or waterproof paper, baled goods are stowed on single dunnage at least 50 mm thick. The bales must be clean with all the bands intact, stained or oily bales are rejected. All fibres can absorb oil and are liable to spontaneous combustion, as a result, they are kept clear of any new paintwork. Bales close to the deckhead are covered to prevent damage by dripping sweat, wooden barrels are stowed on their sides on beds of dunnage which keeps the middle of the side off the deck and they are stowed with the bung at the top. To prevent movement wedges called quoins are put in on top of the beds, barrels should be stowed fore and aft and not athwart ships. Once the first tier has been loaded the next tier of barrels fits into the hollows between the barrels, this is known as stowing bilge and cantline
10.
Wholesale marketing of food
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The consumption and production of marketed food are spatially separated. Production is primarily in rural areas while consumption is in urban areas, agricultural marketing is the process that overcomes this separation, allowing produce to be moved from an area of surplus to one of need. Food reaches the consumer by a network, involving production, assembly, sorting, packing, reassembly, distribution. Recent years have seen an expansion of wholesale marketing in E, on the other hand, the growth of supermarkets in many regions has seen the development of direct marketing and a reduced role for wholesale systems. Wholesalers buy mostly from producers and sell mostly to retailers, industrial consumers, types of wholesalers, Merchant wholesalers Agents Brokers 1) Merchant wholesalers are the largest single group of wholesalers, accounting for roughly 50 percent of all wholesaling. Merchant wholesalers include two types, full-service wholesalers and limited-service wholesalers. A broker brings buyers and sellers together and assists in negotiation, Agents represent buyers or sellers on a more permanent basis. Terminal wholesale markets are located in metropolitan areas, where produce is finally channelled to consumers through trade between wholesalers and retailers, caterers, etc. Produce may also be assembled for export, in some countries, such as India and China, terminal markets also supply other parts of the country. For example, New Delhi serves as a centre to the south of India for apples grown in the Himalayan foothills. The problems of terminal wholesale markets are usually ones of congestion caused by a location or by an inappropriate mixture of wholesale. Traditionally, wholesale markets were built adjacent to city centres, located at a point of the inter-city transport facilities. Population growth, changes in urban land-use patterns and the development of transport systems have all influenced the suitability and functionality of existing sites. Wholesaling facilitates the economic function of buying and selling by allowing the forces of supply, the wholesaler may also perform storage and warehousing functions, as well as allowing economies of scale to be obtained in the transportation of produce from farm to market. The people involved in wholesaling can act simply as merchants, buying and selling produce, can be brokers dealing in orders rather than goods, prices are normally established by negotiation but some wholesale markets use the auction system. The auction is compulsory in all markets in big cities in Japan. A comparison of the Japanese system with that in Brisbane, Australia, found that prices moved more frequently, Wholesale markets develop in a number of stages. They start as general markets, then become more specialized by trading in specific types of product, a later stage is to transact only graded and well packaged produce
11.
China
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China, officially the Peoples Republic of China, is a unitary sovereign state in East Asia and the worlds most populous country, with a population of over 1.381 billion. The state is governed by the Communist Party of China and its capital is Beijing, the countrys major urban areas include Shanghai, Guangzhou, Beijing, Chongqing, Shenzhen, Tianjin and Hong Kong. China is a power and a major regional power within Asia. Chinas landscape is vast and diverse, ranging from forest steppes, the Himalaya, Karakoram, Pamir and Tian Shan mountain ranges separate China from much of South and Central Asia. The Yangtze and Yellow Rivers, the third and sixth longest in the world, respectively, Chinas coastline along the Pacific Ocean is 14,500 kilometers long and is bounded by the Bohai, Yellow, East China and South China seas. China emerged as one of the worlds earliest civilizations in the basin of the Yellow River in the North China Plain. For millennia, Chinas political system was based on hereditary monarchies known as dynasties, in 1912, the Republic of China replaced the last dynasty and ruled the Chinese mainland until 1949, when it was defeated by the communist Peoples Liberation Army in the Chinese Civil War. The Communist Party established the Peoples Republic of China in Beijing on 1 October 1949, both the ROC and PRC continue to claim to be the legitimate government of all China, though the latter has more recognition in the world and controls more territory. China had the largest economy in the world for much of the last two years, during which it has seen cycles of prosperity and decline. Since the introduction of reforms in 1978, China has become one of the worlds fastest-growing major economies. As of 2016, it is the worlds second-largest economy by nominal GDP, China is also the worlds largest exporter and second-largest importer of goods. China is a nuclear weapons state and has the worlds largest standing army. The PRC is a member of the United Nations, as it replaced the ROC as a permanent member of the U. N. Security Council in 1971. China is also a member of numerous formal and informal multilateral organizations, including the WTO, APEC, BRICS, the Shanghai Cooperation Organization, the BCIM, the English name China is first attested in Richard Edens 1555 translation of the 1516 journal of the Portuguese explorer Duarte Barbosa. The demonym, that is, the name for the people, Portuguese China is thought to derive from Persian Chīn, and perhaps ultimately from Sanskrit Cīna. Cīna was first used in early Hindu scripture, including the Mahābhārata, there are, however, other suggestions for the derivation of China. The official name of the state is the Peoples Republic of China. The shorter form is China Zhōngguó, from zhōng and guó and it was then applied to the area around Luoyi during the Eastern Zhou and then to Chinas Central Plain before being used as an occasional synonym for the state under the Qing
12.
Taiwan
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Taiwan, officially the Republic of China, is a state in East Asia. Neighbours include China to the west, Japan to the northeast, Taiwan is the most populous state that is not a member of the United Nations, and the one with the largest economy. The island of Taiwan, also known as Formosa, was inhabited by Taiwanese aborigines before the 17th century. After a brief rule by the Kingdom of Tungning, the island was annexed by the Qing dynasty, the Qing ceded Taiwan to Japan in 1895 after the Sino-Japanese War. While Taiwan was under Japanese rule, the Republic of China was established on the mainland in 1912 after the fall of the Qing dynasty, following the Japanese surrender to the Allies in 1945, the ROC took control of Taiwan. However, the resumption of the Chinese Civil War led to the ROCs loss of the mainland to the Communists, and the flight of the ROC government to Taiwan in 1949. As a founding member of the United Nations, the ROC continued to represent China at the United Nations until 1971, in the early 1960s, Taiwan entered a period of rapid economic growth and industrialization, creating a stable industrial economy. In the 1980s and early 1990s, it changed from a one-party military dictatorship dominated by the Kuomintang to a multi-party democracy with universal suffrage, Taiwan is the 22nd-largest economy in the world, and its high-tech industry plays a key role in the global economy. It is ranked highly in terms of freedom of the press, health care, public education, economic freedom, the PRC has consistently claimed sovereignty over Taiwan and asserted the ROC is no longer in legitimate existence. Under its One-China Policy the PRC refused diplomatic relations with any country that recognizes the ROC, the PRC has threatened the use of military force in response to any formal declaration of independence by Taiwan or if PRC leaders decide that peaceful unification is no longer possible. There are various names for the island of Taiwan in use today, the former name Formosa dates from 1542, when Portuguese sailors sighted the main island of Taiwan and named it Ilha Formosa, which means beautiful island. The name Formosa eventually replaced all others in European literature and was in use in English in the early 20th century. This name was adopted into the Chinese vernacular as the name of the sandbar. The modern word Taiwan is derived from this usage, which is seen in forms in Chinese historical records. Use of the current Chinese name was formalized as early as 1684 with the establishment of Taiwan Prefecture, through its rapid development, the entire Formosan mainland eventually became known as Taiwan. The official name of the state is the Republic of China and it was a member of the United Nations representing China until 1971, when it lost its seat to the Peoples Republic of China. Over subsequent decades, the Republic of China has become known as Taiwan. In some contexts, especially ones from the ROC government
13.
Retail banking
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Retail banking, also known as consumer banking, is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, the term is generally used to distinguish these banking services from investment banking, commercial banking or wholesale banking. It may also be used to refer to a division or department of a bank dealing with retail customers, in the U. S. the term commercial bank is used for a normal bank to distinguish it from an investment bank. This separation was repealed in the 1990s, commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to individual members of the public. S. Private banks manage the assets of high-net-worth individuals, offshore banks are banks located in jurisdictions with low taxation and regulation. Many offshore banks are essentially private banks, postal savings banks are savings banks associated with national postal systems
14.
Sales tax
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A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase, when a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales, conventional or retail sales tax is levied on the sale of a good to its final end user and is charged every time that item is sold retail. Sales to businesses that later resell the goods are not charged the tax, the tax is otherwise charged on each item sold to purchasers without such a certificate and who are under the jurisdiction of the taxing authority. Other types of taxes, or similar taxes, include the following, Manufacturers sales tax. Wholesale sales tax, a tax on sales of wholesale of tangible personal property when in a packaged and labeled ready for shipment or delivery to final users and consumers. Retail sales tax, a tax on sales of retail of tangible personal property to final consumers, gross receipts taxes, levied on all sales of a business. They have been criticized for their cascading or pyramiding effect, in which an item is taxed more than once as it makes its way from production to final retail sale. Excise taxes, applied to a range of products, such as gasoline or alcohol. Use taxes are imposed by states with a sales tax but are usually enforced only for large items such as automobiles. Securities turnover excise tax, a tax on the trade of securities, value added tax, in which tax is charged on all sales, thus avoiding the need for a system of resale certificates. Tax cascading is avoided by applying the tax only to the difference between the price paid by the first purchaser and the price paid by each subsequent purchaser of the same item, fairTax, a proposed federal sales tax, intended to replace the US federal income tax. Turnover tax, similar to a tax, but applied to intermediate. Most countries in the world have sales taxes or value-added taxes at all or several of the national, state, county, countries in Western Europe, especially in Scandinavia, have some of the worlds highest valued-added taxes. Norway, Denmark and Sweden have higher VATs at 25%, Hungary has the highest at 27% although reduced rates are used in cases, as for groceries, art, books. In some jurisdictions of the United States, there are levels of government which each impose a sales tax. For example, sales tax in Chicago, IL is 10. 25%, consisting of 6. 25% state,1. 25% city,1. 75% county, Chicago also has the Metropolitan Pier and Exposition Authority tax on food and beverage of 1%. For Baton Rouge, Louisiana, the tax is 10%, which is 5% each of state & local, in L. A. it is only 8. 75%, which is 7. 25% state and 1. 5% county
15.
Direct marketing
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Among practitioners, it is also known as direct response. The prevalence of direct marketing and the nature of some communications has led to regulations and laws such as the CAN-SPAM Act. Measured against total US sales, these advertising expenditures generated approximately $1.798 trillion in incremental sales, in 2010, direct marketing accounted for 8. 3% of total US gross domestic product. In 2010, there were 1.4 million direct marketing employees in the US and their collective sales efforts directly supported 8.4 million other jobs, accounting for a total of 9.8 million US jobs. The term direct marketing was coined long after Montgomery Wards time, in 1872, Ward produced the first mail-order catalog for his Montgomery Ward mail order business. By buying goods and then reselling them directly to customers, Ward was consequently removing the middlemen at the store and, to the benefit of the customer. The Direct Mail Advertising Association, predecessor of the present-day Direct Marketing Association, was first established in 1917, third class bulk mail postage rates were established in 1928. In 1967, Lester Wunderman identified, named, and defined the term direct marketing, Direct marketing is attractive to many marketers because its positive results can be measured directly. For example, if a marketer sends out 1,000 solicitations by mail and 100 respond to the promotion and this metric is known as the response rate, and it is one of many clearly quantifiable success metrics employed by direct marketers. In contrast, general advertising uses indirect measurements, such as awareness or engagement, measurement of results is a fundamental element in successful direct marketing. One of the significant benefits of Direct Marketing is, it enables promoting products or services that might not have a strong brand. The Internet has made it easier for marketing managers to measure the results of a campaign and this is often achieved by using a specific website landing page directly relating to the promotional material. Another way to measure the results is to compare the projected sales or generated leads for a term with the actual sales or leads after a direct advertising campaign. This poses a problem for marketers and consumers alike, as advertisers do not wish to waste money on communicating with consumers not interested in their products, the medium/media used to deliver a message can have a significant impact on responses. It is difficult to truly personalize a DRTV or radio message, in sum, choosing the best of all the above parameters may yield up to 58 times more response, as compared to choosing the worst of the above parameters. Addressing these helps assuage the concerns of the marketers, some of these concerns have been addressed by direct marketers by the use of individual opt-out lists, variable printing, and better-targeted list practices. The term junk mail, referring to unsolicited commercial ads delivered via post office or directly deposited in consumers mail boxes, can be traced back to 1954. To address the concerns of unwanted emails or spam, in 2003, The US Congress enacted the Controlling the Assault of Non-Solicited Pornography, can-Spam gives recipients the ability to stop unwanted emails, and set out tough penalties for violations
16.
E-commerce
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E-commerce is a transaction of buying or selling online. Modern electronic commerce typically uses the World Wide Web for at least one part of the life cycle although it may also use other technologies such as e-mail. 1979, Michael Aldrich demonstrates the first online shopping system,1981, Thomson Holidays UK is the first business-to-business online shopping system to be installed. 1982, Minitel was introduced nationwide in France by France Télécom,1983, California State Assembly holds first hearing on electronic commerce in Volcano, California. Testifying are CPUC, MCI Mail, Prodigy, CompuServe, Volcano Telephone and it is the first comprehensive electronic commerce service. 1989, In May 1989, Sequoia Data Corp, introduced Compumarket The first internet based system for e-commerce. Sellers and buyers could post items for sale and buyers could search the database,1990, Tim Berners-Lee writes the first web browser, WorldWideWeb, using a NeXT computer. 1992, Book Stacks Unlimited in Cleveland opens a sales website selling books online with credit card processing. 1993, Paget Press releases edition No.3 of the first app store, The Electronic AppWrapper 1994, Netscape 1.0 is introduced in late 1994 with SSL encryption that made transactions secure. 1994, Ipswitch IMail Server becomes the first software available online for sale,1994, Ten Summoners Tales by Sting becomes the first secure online purchase through NetMarket. 1995, The US National Science Foundation lifts its former strict prohibition of commercial enterprise on the Internet, the shopping service at launch featured W H Smith, Tesco, Virgin Megastores/Our Price, Great Universal Stores, Interflora, Dixons Retail, Past Times, PC World and Innovations. 1995, Jeff Bezos launches Amazon. com and the first commercial-free 24-hour, internet-only radio stations, Radio HK, eBay is founded by computer programmer Pierre Omidyar as AuctionWeb. 1996, IndiaMART B2B marketplace established in India,1996, ECPlaza B2B marketplace established in Korea. 1996, The use of Excalibur BBS with replicated Storefronts was an implementation of electronic commerce started by a group of SysOps in Australia. 1998, Electronic postal stamps can be purchased and downloaded for printing from the Web,1999, Alibaba Group is established in China. Business. com sold for US $7.5 million to eCompanies, the peer-to-peer filesharing software Napster launches. ATG Stores launches to sell items for the home online. 2000, Complete Idiots Guide to E-commerce released on Amazon 2000,2001, Alibaba. com achieved profitability in December 2001
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Supply chain
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A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer. Supply chain activities involve the transformation of resources, raw materials. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable, importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers. In essence, supply chain management integrates supply and demand management within, more recently, the loosely coupled, self-organizing network of businesses that cooperates to provide product and service offerings has been called the extended enterprise. As part of their efforts to demonstrate ethical practices, many companies and global brands are integrating codes of conduct and guidelines into their corporate cultures. Through these, corporations are making demands on their suppliers and verifying, through social audits, a lack of transparency in the supply chain is known as mystification, which bars consumers from the knowledge of where their purchases originated and can enable socially irresponsible practices. Supply Chain Managers are under constant scrutiny to secure the best pricing for their resources, cost Benchmarking is one effective method for identifying competitive pricing within the industry. This gives negotiators a solid basis to form their strategy on, omnichannel Supply Chain is the latest term used in retail. This is how customers can shop any time, anywhere, any place, there are a variety of supply chain models, which address both the upstream and downstream elements of supply chain management. The SCOR model, developed by a consortium of industry and the non-profit Suppl Chain Council became the de facto standard defining the scope of supply chain management. SCOR measures total supply chain performance and it is a process reference model for supply-chain management, spanning from the suppliers supplier to the customers customer. The Global Supply Chain Forum has introduced another supply chain model and this framework is built on eight key business processes that are both cross-functional and cross-firm in nature. Each process is managed by a team including representatives from logistics, production, purchasing, finance, marketing. While each process interfaces with key customers and suppliers, the processes of customer relationship management, the PCF was developed by APQC and its member organizations as an open standard to facilitate improvement through process management and benchmarking, regardless of industry, size, or geography. The PCF organizes operating and management processes into 12 enterprise-level categories, including process groups, in 2013, the Supply Chain Roadmap has been presented. It is a method where a supply chain strategy can be reviewed in an organized. The method is supported in the most important and recognised theories and practices about supply chain strategy, method is applied in four steps. The method was developed by Hernan David Perez, a supply chain manager in several industrial sectors
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Business-to-business
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Business-to-business refers to a situation where one business makes a commercial transaction with another. This typically occurs when, A business is sourcing materials for their production process, a business needs the services of another for operational reasons. A business re-sells goods and services produced by others, B2B is often contrasted against business-to-consumer. In most cases, the volume of B2B transactions is much higher than the volume of B2C transactions. For example, a manufacturer makes several B2B transactions such as buying tires, glass for windscreens. The final transaction, a vehicle sold to the consumer, is a single transaction. However, in cases, for example a toothbrush manufacturer may make lesser B2B transactions of raw materials than the number of B2C transactions of toothbrush units that are sold. Business-to-consumer Business-to-government Customer to customer Masterseek Huczynski, A. et al, temporal, P. B2B Branding–A Guide to Successful Business-to-Business Brands, International Enterprise Singapore
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Integrated Authority File
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The Integrated Authority File or GND is an international authority file for the organisation of personal names, subject headings and corporate bodies from catalogues. It is used mainly for documentation in libraries and increasingly also by archives, the GND is managed by the German National Library in cooperation with various regional library networks in German-speaking Europe and other partners. The GND falls under the Creative Commons Zero license, the GND specification provides a hierarchy of high-level entities and sub-classes, useful in library classification, and an approach to unambiguous identification of single elements. It also comprises an ontology intended for knowledge representation in the semantic web, available in the RDF format
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National Diet Library
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The National Diet Library is the only national library in Japan. It was established in 1948 for the purpose of assisting members of the National Diet of Japan in researching matters of public policy, the library is similar in purpose and scope to the United States Library of Congress. The National Diet Library consists of two facilities in Tokyo and Kyoto, and several other branch libraries throughout Japan. The Diets power in prewar Japan was limited, and its need for information was correspondingly small, the original Diet libraries never developed either the collections or the services which might have made them vital adjuncts of genuinely responsible legislative activity. Until Japans defeat, moreover, the executive had controlled all political documents, depriving the people and the Diet of access to vital information. The U. S. occupation forces under General Douglas MacArthur deemed reform of the Diet library system to be an important part of the democratization of Japan after its defeat in World War II. In 1946, each house of the Diet formed its own National Diet Library Standing Committee, hani Gorō, a Marxist historian who had been imprisoned during the war for thought crimes and had been elected to the House of Councillors after the war, spearheaded the reform efforts. Hani envisioned the new body as both a citadel of popular sovereignty, and the means of realizing a peaceful revolution, the National Diet Library opened in June 1948 in the present-day State Guest-House with an initial collection of 100,000 volumes. The first Librarian of the Diet Library was the politician Tokujirō Kanamori, the philosopher Masakazu Nakai served as the first Vice Librarian. In 1949, the NDL merged with the National Library and became the national library in Japan. At this time the collection gained a million volumes previously housed in the former National Library in Ueno. In 1961, the NDL opened at its present location in Nagatachō, in 1986, the NDLs Annex was completed to accommodate a combined total of 12 million books and periodicals. The Kansai-kan, which opened in October 2002 in the Kansai Science City, has a collection of 6 million items, in May 2002, the NDL opened a new branch, the International Library of Childrens Literature, in the former building of the Imperial Library in Ueno. This branch contains some 400,000 items of literature from around the world. Though the NDLs original mandate was to be a library for the National Diet. In the fiscal year ending March 2004, for example, the library reported more than 250,000 reference inquiries, in contrast, as Japans national library, the NDL collects copies of all publications published in Japan. The NDL has an extensive collection of some 30 million pages of documents relating to the Occupation of Japan after World War II. This collection include the documents prepared by General Headquarters and the Supreme Commander of the Allied Powers, the Far Eastern Commission, the NDL maintains a collection of some 530,000 books and booklets and 2 million microform titles relating to the sciences
