This article throws light upon the seven main steps involved in planning and development of a new product. The steps are: 1. New Product Ideas 2. Idea Screening 3. Concept Development and Testing 4. Business Analysis 5. Product Development, Programme 6. Test Marketing 7. Commercialisation. Planning and Development: Step # 1. New Product Ideas: We visualize the detailed features of [...]
This article throws light upon the six main steps involved in computing lease rentals. 1. Determine the cost of the asset which includes the actual purchase price and expenses like freight, insurance, taxes and installation, etc. 2. Determine the cash flows to the lessor on account of ownership of the asset. These include tax advantage provided by depreciation and investment [...]
This article throws light upon the eight main steps involved in the planning process of an organisation. The steps are: 1. Perception of Opportunities 2. Establishing Objectives 3. Planning Premises 4. Identification of Alternatives 5. Evaluation of Alternatives 6. Choice of Alternative Plans 7. Formulation of Supporting Plan 8. Establishing Sequence of Activities. Step # 1. Perception of Opportunities: Perception [...]