Tag: Highlights

  • 5 Best commercial property software on Highest Rated in 2023

    5 Best commercial property software on Highest Rated in 2023

    Commercial property software refers to specialized software designed to assist with the management and analysis of commercial real estate properties. It provides features and functionalities tailored to the needs of property owners, managers, brokers, and investors in the commercial real estate market. This software typically includes tools for property listing and marketing, lease management, tenant management, financial analysis, reporting, and also portfolio management. It helps streamline operations, improve efficiency, and maximize the value of commercial real estate investments.

    5 Best commercial property software; How to be Know

    Commercial property software refers to a category of software solutions specifically designed for managing and optimizing commercial real estate properties. It is a comprehensive suite of tools and applications that help property owners, managers, and real estate professionals streamline their operations, track financials, and also enhance overall efficiency.

    Commercial property software typically offers a range of features that cater to the unique needs of managing commercial properties. Such as office buildings, retail spaces, warehouses, and industrial complexes.

    Basic Function of commercial property software

    Some common functionalities include:

    1. Property Management: It provides tools for tracking leases, managing tenant information, and handling maintenance requests. Also, This may include features like lease administration, rent collection, tenant communication, and work order management.
    2. Financial Management: The software enables financial tracking and analysis, including rent roll management, expense tracking, budgeting, and financial reporting. It may also integrate with accounting systems to streamline financial processes.
    3. Lease Administration: This feature helps manage lease agreements, including lease terms, rent escalations, lease expirations, and renewals. It may also facilitate lease abstracting, document storage, and automated notifications for critical dates.
    4. Asset Tracking: Commercial property software often includes tools for tracking assets within a property, such as equipment, fixtures, and inventory. Also, This can help with maintenance scheduling, depreciation tracking, and inventory management.
    5. Reporting and Analytics: The software generates various reports and analytics to provide insights into property performance, occupancy rates, financial metrics, and other key indicators. These reports aid in decision-making and strategic planning.
    6. CRM (Customer Relationship Management): Some commercial property software includes CRM functionality. Allowing users to manage relationships with prospects, tenants, and vendors. This may include contact management, lead tracking, and communication tools.
    7. Collaboration and Communication: These features facilitate internal and external communication by providing tools for sharing documents, sending notifications, and managing tasks among property management teams, tenants, and service providers.

    The specific features and capabilities of commercial property software can vary among providers. Also, users can choose the software that best suits their needs based on the size and complexity of their property portfolios. Overall, commercial property software aims to enhance operational efficiency, increase transparency, and improve financial performance in the management of commercial real estate properties.

    Highest Rated 5 best commercial property software

    Here are the 5 best Commercial property software refers with the highest rating below are;

    5 Best commercial property software on Highest Rated in 2023 Image
    5 Best commercial property software on Highest Rated in 2023

    Entrata

    Entrata is a popular commercial property management software that offers a range of features and functionalities to streamline operations and enhance efficiency. Here are the pros and cons of using Entrata:

    Pros of Entrata:

    1. Comprehensive Suite of Tools: Entrata provides a comprehensive suite of tools and applications that cover various aspects of commercial property management, including property listing and marketing, lease management, tenant management, financial analysis, reporting, and portfolio management. This all-in-one solution can save time and effort by consolidating tasks in a single platform.
    2. User-Friendly Interface: Entrata is known for its user-friendly interface, making it easy for property owners, managers, and real estate professionals to navigate and utilize the software effectively. Also, The intuitive design and layout enhance the user experience and reduce the learning curve.
    3. Customization Options: Entrata offers customization options that allow users to tailor the software to their specific needs. This flexibility ensures that the software can adapt to different property types and portfolio sizes. Making it suitable for a wide range of commercial real estate professionals.
    4. Streamlined Processes: With Entrata, property management processes can be automated and streamlined, reducing manual tasks and minimizing errors. From lease management to rent collection, the software automates various workflows, improving operational efficiency and saving time.

    Cons of Entrata:

    1. Cost: The cost of using Entrata may be a limiting factor for some users. Depending on the size and complexity of the property portfolio, the subscription fees for the software can be costly. Additionally, there may be additional charges for certain features or add-ons, which could increase the overall expense.
    2. Limited Integration: Entrata offers a comprehensive suite of property management tools. Its integration capabilities with other software and platforms may be limited. This can be a drawback for users who rely on specific integrations for their business operations.
    3. Learning Curve: While Entrata is known for its user-friendly interface, mastering all the features and functionalities may still require some training and time investment. Users who are not familiar with property management software may find the learning curve to be a challenge.
    4. Customer Support: Some users have expressed concerns about the responsiveness and effectiveness of Entrata’s customer support. In certain cases, users may face delays in receiving assistance or encounter difficulties in getting their issues resolved.

    Knock CRM

    Knock CRM is a popular customer relationship management software specifically designed for the real estate industry. It offers various features and functionalities to help real estate professionals manage their customer interactions effectively. Here are the pros and cons of using Knock CRM:

    Pros of Knock CRM:

    • User-friendly interface: Knock CRM provides a user-friendly interface that is easy to navigate, making it convenient for both experienced and novice users.
    • Lead generation and management: It offers robust lead generation and management tools, allowing you to capture and nurture leads efficiently. This can help increase your chances of converting leads into clients.
    • Communication automation: Knock CRM offers automation features that streamline communication with leads and clients. You can set up automated email campaigns, text messaging, and follow-up reminders to stay in touch with your prospects easily.
    • Customization options: The software allows you to customize lead forms, email templates, and workflows to match your specific business needs, helping you tailor the CRM to align with your unique processes.
    • Real-time analytics: Knock CRM provides real-time analytics and reporting, giving you insights into your sales performance, conversion rates, and lead sources. This helps you make data-driven decisions and refine your sales strategies.

    Cons of Knock CRM:

    • Limited integrations: Knock CRM may have limitations when it comes to integrating with other software and third-party apps. This can be a drawback if you rely on other tools to manage your real estate business.
    • Pricing: The pricing structure of Knock CRM may not be suitable for small or budget-conscious real estate professionals. It’s important to consider the cost when evaluating the software against your business requirements and budget.
    • Learning curve: While Knock CRM offers a user-friendly interface, new users may still need some time to familiarize themselves with all the features and functionalities. Proper training and support may be necessary to fully utilize the software’s capabilities.

    Property Vista

    Property Vista is a comprehensive commercial property management software that aims to streamline operations and enhance efficiency in managing commercial real estate properties. Here are the pros and cons of using Property Vista:

    Pros of Property Vista:

    • Robust features: Property Vista offers a wide range of features, including property listing and marketing, tenant management, lease management, financial analysis, reporting, and maintenance tracking. These features provide property owners and managers with the necessary tools to effectively manage their commercial properties.
    • User-friendly interface: The software has an intuitive and user-friendly interface. Making it easy for users to navigate and utilize its various functionalities. This intuitive design helps in reducing the learning curve and allows users to efficiently perform their tasks.
    • Customization options: Property Vista allows users to customize various aspects of the software to fit their specific needs. This flexibility enables property owners and managers to tailor the software according to their workflows and preferences.
    • Integration capabilities: The software integrates well with other commonly used business tools and systems. Such as accounting software, CRM systems, and online payment gateways. This integration helps streamline processes and improve overall productivity.
    • Customer support: Property Vista provides excellent customer support to assist users with any issues or questions they may have. Their support team is responsive and knowledgeable, ensuring smooth operations and addressing concerns promptly.

    Cons of Property Vista:

    • Pricing: Property Vista may have higher pricing compared to some other commercial property management software options in the market. The cost may be a consideration for smaller businesses or those with limited budgets.
    • Customization complexity: While Property Vista offers customization options, some users may find the process of customizing the software to be complex or require additional technical expertise.
    • Learning curve: Although the interface is user-friendly, users who are not familiar with property management software may still require some time to learn and fully utilize all the features and functionalities the software offers.

    Re-Leased

    Re-Leased is a popular commercial property management software that provides a range of features and functionalities to streamline operations and enhance efficiency. Here are the pros and cons of using Re-Leased:

    Pros of Re-Leased:

    • User-friendly interface: Re-Leased offers a user-friendly interface that makes it easy for property owners, managers, and real estate professionals to navigate and utilize the software effectively.
    • Property and lease management: Re-Leased provides robust tools for property and lease management, including lease tracking, rent invoicing, document management, and maintenance management. This helps in streamlining operations and ensuring that all lease-related tasks are efficiently managed.
    • Tenant portal: Re-Leased offers a tenant portal that allows tenants to access important information, make payments, and submit maintenance requests. This self-service feature improves tenant satisfaction and reduces administrative overhead.
    • Financial reporting: The software offers comprehensive financial reporting capabilities, allowing users to generate financial statements, track income, and expenses, and analyze financial performance. This helps in making informed decisions and maximizing the financial returns of commercial property investments.
    • Integration capabilities: Re-Leased integrates with other popular accounting and property management systems, allowing for seamless data transfer and synchronization. This integration helps in reducing manual data entry and ensures data accuracy across platforms.

    Cons of Re-Leased:

    • Pricing: The cost of using Re-Leased may be a limiting factor for some users. Especially for smaller property management teams or individuals with a limited budget. It is important to consider the pricing structure and evaluate the software’s value to the specific needs and size of the property portfolio.
    • Learning curve: While Re-Leased offers a user-friendly interface, there may still be a learning curve involved for users who are new to the software. Training and support resources may be necessary to fully utilize all the features and functionalities of the software.
    • Customization limitations: Some users may find that the level of customization options offered by Re-Leased is limited. Depending on specific business needs, users may require more flexibility in tailoring the software to their unique requirements.

    Condo Control

    Condo Control is a popular property management software tailored for managing condominium properties. Here are the pros and cons of using Condo Control:

    Pros of Condo Control:

    • User-friendly interface: Condo Control offers an intuitive and user-friendly interface, making it easy for property managers and residents to navigate and use the software.
    • Communication tools: The software provides efficient communication channels, allowing property managers to effectively communicate with residents, send announcements, and share important updates.
    • Maintenance and work order management: Condo Control includes features for managing maintenance requests and work orders, making it easier for property managers to track and address maintenance issues promptly.
    • Access control and security: The software offers robust access control and security features, allowing property managers to manage key fob access, and visitor registration, and enhance overall security within the condominium property.
    • Document management: Condo Control provides a document management system, enabling property managers to organize and share important documents, such as bylaws, rules, and regulations, with residents.

    Cons of Condo Control:

    • Pricing: Some users may find Condo Control’s pricing to be on the higher end compared to other property management software options.
    • Learning curve: While Condo Control is user-friendly, there may be a learning curve for new users who are not familiar with property management software or technology.
    • Limited customization: The software may have limited customization options. This could be a drawback for property managers who require highly specific features or workflows.

    Bottom line

    The content in the editor discusses 5 commercial property software. Its benefits for managing and analyzing commercial real estate properties. It explains the basic functions of commercial property software and highlights the importance of choosing the right software for different property portfolios. The content also provides a list of the five best commercial property software, including Entrata, Knock CRM, Property Vista, Re-Leased, and Condo Control. Pros and cons are provided for each software, helping users make informed decisions.

  • How to Resume Highlights of Qualifications Examples

    How to Resume Highlights of Qualifications Examples

    The 6 best ways for your strengths in your Resume Highlights of Qualifications Examples. Many small partners are confused about how to show their competitiveness in their resumes. There are several parts of your resume that are used to impress the other person, and are also the key to determining whether the other person will give you an interview. Also, It is important to know how to write these key parts well.

    Here are the articles to explain, the strengths in your Resume Highlights of Qualifications Examples

    How to highlight your advantages in your resume or How to show your competitiveness in your resume. The following resume templates will teach you how to highlight your strengths in your resume.

    Results

    Impress future employers with your proud track record. Highlight your professional skills and achievements and reinforce supporting titles. Focus on detailed descriptions of your abilities, and use quantitative methods such as numbers, percentages, or time to strengthen them. Emphasize action and avoid personal pronouns such as I, We, etc.

    Ability

    Summarize and summarize all aspects of ability, make use of your strengths and circumvent weaknesses, and conquer future employers with your undisputed workability and personal charm. The wording should be simple and clear, the point of view clear, and engaging.

    Work experience

    Include all your work history, whether paid or unpaid, full-time or part-time. On the premise of ensuring authenticity, try to expand and enrich your work experience, but the words must be concise. Don’t just focus on the work itself, performance and results are more important

    Skills

    List all job-related skills. You will have the opportunity to demonstrate to employers your gifts and talents beyond your academic qualifications and work experience. Review the previous achievements, and summarize and summarize the experience and experience gained from them. There is only one criterion for your selection, that is, whether this item will help you in your job search.

    Awards

    Much of a resume is a subjective record of experience and accomplishments, and honors and accolades will give them real objectivity. This is an opportunity to make employers aware of your positive results. Emphasize that this award is an important proof of your qualifications, and highlight the relevance of the award to the position you are seeking.

    Career

    Emphasize your specific professional skills and achievements in the relevant industry. Be as specific as possible when referring to your skills and achievements. This column is dedicated to some specific occupations and needs to indicate the specific industry you are in.

    The above is about how to highlights qualifications examples of your advantages in your resume and how to show your competitiveness in your resume. I hope it will be helpful for you to write your resume. Please indicate the source of the reprint, welcome to participate in the discussion, error correction, and supplementary content.

    How to Resume Highlights of Qualifications Examples Image
    How to Resume Highlights of Qualifications Examples; Photo by Glenn Carstens-Peters on Unsplash.
  • Rural Marketing: Meaning, Areas, Features, and Importance

    Rural Marketing: Meaning, Areas, Features, and Importance

    Introduction to Rural Marketing Research: It has involved extraordinary requests both for the marketing scholastics and specialists whether there is a requirement for creating separate techniques for rural markets. Rural marketing research also defines as their Introduction, Meaning, Definition, Areas, Characteristics or Attributes or Highlights or Features, Need or Significance or Importance. How to position Global Marketing in rural marketing? Rural marketing is a gathering of the create item, sensible cost, suitable setting, and right mindfulness.

    Here is the article to explain, Rural Marketing Research – Introduction, Meaning, Definition, Areas, Characteristics or Attributes or Highlights or Features, Need or Significance or Importance.

    Meaning of Rural Marketing: The marketing decides states that the correct item, at the correct cost, at the opportune spot, at the perfect time, through the correct medium should arrive at the correct client. Also, Marketing might depict as the way toward characterizing, envisioning, and knowing client needs and dealing with all the assets of the association to fulfill them.

    The fulfillment of client’s needs and needs gives the presence to the association. The purchaser’s conduct contains the demonstrations, procedures, and social connections appeared by people, gatherings, and associations with items and administrations. Information and comprehension of the thought processes of purchaser conduct help an association in looking for better and progressively powerful approaches to fulfill the customers.

    It assists with choosing suitable deals and publicizing procedures to design marketing programs in an increasingly proficient way. The rural market of India began indicating its potential from the 1960s, their research; and, the ’70s and ’80s demonstrated its consistent turn of events, research paper. During the ’90s, there was a consistent development of the buying intensity of rural India; and there are clear signs that the 21st century is going to see its full blooming.

    Definition of Rural Marketing:

    The investigation of Rural marketing contains every one of the tasks, research paper pdf file, and the offices leading them, associated with the development of ranch created food, crude materials, and their subordinates, like materials, from the homesteads to the last buyers, and the impacts of such procedure on makers, go-betweens, and purchasers.

    According to G.N. Murthy;

    “Rural marketing is the study of all the activity, agency and policy involved in the procurement of farm inputs by the farmers and the movement of rural products from farmers to consumers.”

    According to National Commission on Agriculture are;

    “Rural Marketing is a process which starts with a decision to produce a saleable farm commodity and it involves all the aspects of market structure or system, both functional & institutional, based on technical and economic considerations and includes pre and post-harvest operations, assembling, grading, storage, transportation, and distribution.”

    So we reason that rural marketing in basic words is the arranging and execution of the marketing capacities for rural areas, you may download their research paper ppt and pdf file.

    Areas of Rural Marketing:

    How to run a Rural Marketing campaign? To run a rural marketing effort, you can do the trading of labor and products in three distinct manners and they are-Rural to Rural, Urban to Rural, and Rural to Urban. In this way, to run a Rural Marketing Campaign, you can decide on these three distinct ways. Allow us to talk about Rural Marketing research areas three in detail;

    Rural to Rural:

    This sort of rural marketing comes to set up when rural makers make items for rural buyers or locals. In this sort of marketing, various kinds of items utilize are trucks, cows, ceramics, and so on

    Metropolitan (Urban) to Rural:

    In this sort of rural marketing, items produce in urban communities or metropolitan units make available to the rural market base. Various items that come in this class are buyer durables, FMCG, manures, and so on Rural marketing utilize for augmenting the compass and changes of these items to a rural section of target crowds.

    Rural to Urban:

    Such rural marketing is utilized when items that are developed or fabricated are offered to the metropolitan market. Various items contained in this class are crops, handicraft things, horticultural items, and so on This sort of marketing is likewise very valuable in boosting the monetary standards of the rural populace by assisting them with getting worth and market for their products, and advocating their abilities.

    Rural Marketing Wrap Up;

    Albeit (Although) rural areas have a ton of possibilities to come up as the new modern center, countless difficulties accompany it also. Yet, with an appropriate rural marketing methodology, a portion of these issues can be managed. Winning the rural market is vital in augmenting the devoted client base, leads, deals, and benefits.

    This will likewise help organizations in having a network among rural and metropolitan areas. Also, This network is the most basic factor of comprehensive development which will guarantee a feasible presence to the organizations. How significant do you consider rural marketing procedures for your business? Offer your perspectives about the meaning of rural marketing efforts with us in the remarks.

    Characteristics or attributes or highlights or features of Rural Marketing:

    To zero in on the rural market and to create successful methodologies for tapping the market capability of the Rural Market, the organizations should know the features of the rural marketing research, which are depicted as follows:

    Huge, Diverse, and Scattered Market:

    The rural market in India is enormous and dispersed into a few districts. It comprises roughly 78 crores of rural shoppers who live in 6.50 lakh towns spread more than 35 lakh square kilometer territory. It is dissipated and far-reaching over 6.40 lakh towns, dissimilar to the metropolitan market kept to a handful of metros, cosmopolitan urban areas, and towns. Covering, a huge and generally dissipated topographical market, described by less populace per settlement, raises the stock and transportation cost and in this way influences the suitability of the course plan tasks of the circulation framework in rural areas.

    Significant Income of Rural Consumers is from Agriculture:

    Rural success attaches to agrarian flourishing. A significant piece of the pay of rural individuals comes from farming. In case of harvest disappointment, the pay of rural masses is straightforwardly influenced. In any case, the new past has seen a slow decrease in the sole reliance on agribusiness, as different areas have begun assuming a huge part in the rural economy.

    Low Standard of Living:

    The rural populace is utilized in limited scope rural and related occupations. This instability factor on account of rural pay makes the rural buyers very aware of their buy conduct as they are not certain about their future income. Most of the rural populace lives underneath the destitution line and has a low proficiency rate, low per capita pay, social backwardness, and so forth

    Added to this the customs, strict pressing factors, social qualities, and profound established notions are the obstructing factors for upward friendly versatility. Also, The flourishing to put something aside for future exigencies causes rural individuals to spend less to improve their standard of living in any event when they have decent pay.

    Conventional Outlook:

    Towns grow gradually and have a conventional standpoint. Change is a consistent cycle yet most rural individuals acknowledge changes slowly. They for the most part oppose change. This is step by step changing because of proficiency particularly in the adolescent who has started to change the standpoint in the towns.

    Foundation Facilities:

    The lacking foundation is the absolute most significant factor that recognizes metropolitan and rural business sectors. Also, The framework offices like solidified streets, stockrooms, correspondence frameworks, and monetary offices are insufficient in rural areas. Advancement and actual dissemination along these lines become extremely troublesome in the rural areas on account of deficient infrastructural offices; which has expanded the extent of rural marketing.

    Market Growth:

    The rural market is developing consistently throughout the long term. Demand for customary items, like bikes, rural data sources, FMCG Products, and so forth has additionally developed throughout the long term. The development has not been just quantitative yet also subjective.

    This was the aftereffect of new work openings and new types of the revenue made accessible through rural advancement programs; which have brought about green and white unrests and upheaval in rising assumptions for rural masses. Also, Demand for items like bikes, agrarian sources of info, ranch items, and so forth, has additionally developed throughout the long term. This outcome in the expanding the capability of rural areas.

    Different Socio-Economic Background:

    Because of the scattering of geological areas and lopsided land ripeness, rural individuals have a different financial foundation; which eventually influences the rural market. Residents have a place with various religions, societies, and gatherings of people. Socio-social foundation impacts shopper ability to acknowledge developments and new items in various areas.

    The varieties in conduct because of buyer climate geological, occupation, demographical and social, impact the way of life and make through and through various arrangements of requirements in various areas. This makes the need to portion the rural market to take into account it viably and productivity.

    Education around there:

    The education rate is low in rural areas when contrasted with metropolitan areas; and, prompts the issue of correspondence for advancement purposes. With low proficiency rates, the print medium gets wasteful; and, to a degree immaterial in rural areas since its span is poor. The reliance is more on electronic media – film, radio, and TV however the rural proficiency level has improved in the rural past.

    Rural individuals have begun to go to metropolitan areas for advanced education. Indeed, even the public authority has presented different plans for rural schooling. Mindfulness has expanded and the ranchers are very much educated about their general surroundings. They are likewise instructing themselves on the innovation around them and yearning for a superior way of life.

    Buying Capacity:

    The buying force of individuals in rural areas is reliant upon a few immediate; and, roundabout components identified with the rural economy. Marketing rural excess and rural–metropolitan terms of exchange are the primary wellsprings of buying power for rural buyers. Generally, Indian horticulture is subject to precipitation.

    Subsequently, the rural demand for buyer products is by implication impact by precipitation. This outcome is the insufficient buying force of the rural customers. Yet, presently day’s buying influence of the rural individuals is expanding; because the public authority spends immense measures of cash on the water system, flood control, framework advancement, hostile to destitution plans, endowments, and so on

    Thusly, advertisers are keen on building up the market in rural areas. Media has arrived in rural areas; so it turns out to be simple for advertisers to sell items in rural areas. Advertisers have understood the capability of rural business sectors and in this manner are expanding their activities in Rural India.

    Need or Significance or Importance of Rural Marketing:

    Numerous organizations having great assembling offices and marketing aptitude are zeroing in on rural business sectors; as there are freedoms to showcase customer labor and products in rural areas; and, likewise market agrarian items in metropolitan business sectors.

    Developing Rural Market:

    Aside from rural contributions, there is a developing business sector for customer merchandise in rural areas. As indicated by NCAER, the rural buyers address more than 50% of India’s “burning-through classes”; and, structure the objective gathering for customer labor and products.

    Extreme Competition in Major Urban Markets:

    Concentrated rivalry in the metropolitan market has expanded expenses yet not a high piece of the pie and benefits. Numerous organizations have taken a lead in setting up their items in rural business sectors. Model – HUL, Colgate, Marico, Nirma, LG Electronics.

    To Change the Attitude of the Farmers with the goal that they will Treat Agriculture as a Business:

    Generally, ranchers have regarded agribusiness as a method of living and they delivered barely enough amounts to meet their family necessities. Numerous reformist ranchers have expanded the yields of harvests by following present-day horticultural practices. Indeed, even little ranchers will urge to build creation. At the point when agribusiness is very much evolved; the pay of ranchers will go up because of a highly attractive excess. This gives great demand to modern and shopper merchandise.

    Rural Marketing Creates Employment Opportunities:

    Broadening of farming, advancement of town-level ventures, and marketing of present-day labor and products give business openings.

    Models:

    • The Government is wanting to set up a chain of expert establishments in rural areas on a public-private association premise to deliver gifted laborers for the car business. The Ministry of Rural Development has likewise preferred the proposition and has offered to expand monetary and other help. The foundations might be like the current Industrial Training Institutes.
    • Due to the high wearing down rate and the developing expense of HR, numerous BPO organizations are moving to the hinterland looking for less expensive and steadfast ability pools. Indeed, even programming firms are setting up focuses in more modest towns. In rural areas, compensations will be up to 50 percent lower than in urban communities, and land around multiple times more affordable, bringing about cost intensity.
    • As insurance agencies go increasingly more rural looking for business, there will be open doors in the rural area. The individuals who understand rural India will be in demand.
    Rural Tourism:

    Incorporates a scope of exercises, administrations, and conveniences given by rural individuals to vacationers. The expansive areas covered are social and ranch the travel industry, nature occasions, and visiting in rural areas. Town way of life and conventional neighborliness are different attractions for sightseers. Numerous metropolitan individuals would select rural the travel industry since it gives a chance to return to roots (towns) and be away from the pressing factor of metropolitan life. The rural travel industry creates business openings and expansions in pay for townspeople. Additionally, rural occasions empower the youthful metropolitan populace to encounter rural life.

    Models:
    • Winners in Maharashtra have started wine the travel industry. Having wine in the travel industry is to have guests stay in the winery; see the grape plantation and get a vibe of the wine-production measure. This will likewise permit savoring the beverage.
    • Rajasthan has been introduced as an objective with fortifications, castles, sandstones, works of art, ceramics, town specialties, and local area diversion.
    • Kushti (Wrestling) Carnival in Kundal (Sangli District, Maharashtra) pulls in near two lakh individuals.
    • Jallikattu (restraining of the bull) led during the gather celebration of Pongal has become a piece of the travel industry bundle of Tamil Nadu.
    • Purushwadi, a town arranged 180 km. from Mumbai has become a place of interest because of the endeavors of “Grass Routes” an association that is advancing town the travel industry. Begun in 2006, more than 60 families invite visitors to remain with them and experience town life and visiting slope sanctuaries, traveling, chipping away at ranches, washing in the stream, and so on
    More than 70 Percent of the Country’s Population Live in Rural Areas:

    With an exceptionally enormous shopper base, rural business sectors have huge potential, and organizations predict the rural business sectors as the business sectors of tomorrow. The working-class section is metropolitan India, which is now all around adjusted. Nonetheless, the rural business sectors are ineffectively adjusted about banking, protection, essential medical services, schooling, and lodging. Additionally, the entrance of four-wheelers, coolers, Color TV, and so on, is low in rural areas and there are enormous freedoms for inventive advertisers.

    Brand Loyalty:

    Because of low pay, most of the rural customers are cost cognizant. Be that as it may, they will keep on belittling a brand whenever they are happy with the item. Model – Parle Biscuits keep on being famous over neighborhood brands.

    Unfamiliar Competition:

    Unfamiliar organizations who are entering the Indian market, regularly, center around metropolitan shoppers. Consequently, there is less rivalry in rural business sectors.

    Improvement of Regional TV Network:

    Has empowered the advertisers to pass on the messages about items and administrations to the rural populace.

    Models:

    • In the class of rolls, Britannia dispatched the Tiger brand considering kids. The rolls focused on youngsters with the slogan ‘Tiger Khao, Kuch ban ke dikha o’.
    • The more youthful town age has significant openness to different media over the prior age, and, they like to copy their metropolitan partners. Kids assume a significant part in affecting buy choices in rural areas.

    Importance of Exploring Niche Marketing for Rural Markets!

    Specialties structure a little however beneficial base of portions to which items and brands and the ‘blast’ made by the customer blast; advertisers are investigating approaches to benefit from ‘specialty’ on the lookout.

    “Bird” cleanser of Hindustan Lever and “Colgate Total” from Colgate Palmolive mirror the importance of specialty systems in the Indian setting. Specialty methodologies could be inventively figured by consolidating a few marketing blend components; which may speak to the rural market in India.

    In a nation like India where the client blast has been entered the rural market; specialty marketing could be an out-and-out various and interesting activity. Given the social variety across the length and expansiveness of the country; specialty marketing could offer a gigantic measure of potential in the rural market.

    More Things:

    Practically all items and administrations could be reformulated with a marketing blend in which the importance given to the components could change following the segment and psychographic profiles of rural customers.

    A branded espresso may require inside and out an alternate promoting topic. It might utilize the invigorating part of caffeine to situate itself. Enfield has exhibited how promoting could be utilized to seek after a specialty; so additionally Coca Cola with film VIP Amir Khan.

    The previous passed on the toughness of a bike to withstand rural and conditions. Up-market items which have cut a specialty for themselves in metropolitan areas may go through the adjustment to be situated in the rural business sectors. Soda pops, quick food sources, and kitchen applications; and, so on may get an ‘unmistakable flavor’ to get a ‘rural specialty’.

    Rural Marketing Research Introduction Meaning Definition Areas Characteristics Attributes Highlights Features Need Significance Importance Image
    Rural Marketing Research – Introduction, Meaning, Definition, Areas, Characteristics or Attributes or Highlights or Features, Need or Significance or Importance; Image from Pixabay.
  • Copy Book or Journal: Meaning, Advantages, and Futures

    Copy Book or Journal: Meaning, Advantages, and Futures

    Copy Book or Journal: In Accounting Essay – The word journal has been gotten from the French word “Jour” Jour implies a day. Along these lines, the journal implies every day. Journal in records book names as the book of the original passage. It knows as the book of the original section since, in such a case that any monetary exchange happens, the bookkeeper of an organization would initially record the exchange in the Daybook. That is the reason a journal in bookkeeping is basic for anybody to comprehend. Regardless of what your identity is, an eventual bookkeeper, an account devotee, or an investor who might want to comprehend the characteristic exchanges of an organization, you have to realize how to pass a Daybook passage before whatever else.

    Copy Book or Journal: Meaning, Definition, Types, Features or Characteristics, Advantages or Benefits, and Limitations or Disadvantages.

    Exchanges record day by day in a Day book and thus it has named so. When an exchange happens its charge and credit perspectives are investigated and above all else, recorded sequentially (in the order of their event) in a book along with its short portrayal. This book knows as a Daybook. Thus we see that the main capacity of a journal is to show the connection between the two records associated with an exchange. This encourages the composition of a record. Since exchanges are first of all recorded in quite a while, so it knows as the book of original passage or prime section or essential passage or starter passage, or first passage. Accounting Essays;

    Meaning and Definition of Copy Book or Journal:

    Which means and definition of Journal; Journal is the book of an original section wherein, in the wake of adhering to the guidelines of charge and credit, all business exchanges record in sequential order. Hence, a Daybook implies a book that records all financial exchanges of a business on a regular schedule. The money-related exchanges record in sequential order i.e., in the order of their event.

    As the recording of exchanges is done first in the journal, it likewise calls the book of original passage or a prime section. Journalizing characterizes as the way toward recording exchanges in the Daybook. In the wake of deciding the specific record to charge and credit, every exchange independently record.

    A journal might characterize as the book of the original or prime section containing a sequential record of the exchanges from which presenting is done on the record. The exchanges record first in the Daybook in the order in which they happen. In the bookkeeping world, Journal alludes to a book wherein exchanges are logged for the absolute first time, and that is the reason it additionally calls as “Book of Original Entry”. In this book, all the ordinary business exchanges enter consecutively, for example, when they emerge.

    From that point forward, the exchanges are presented on the Ledger, in the concerned records. At the point when the exchanges record in the journal, they call Journal Entries. According to the Double Entry System of Book Keeping, each exchange influences different sides, for example, charge and credit. Thus, the exchanges enter in the book according to the Golden Rules of Accounting, to realize which record is to charge and which one is to credit.

    Types of Copy Book or Journal:

    There are two types of the journal:

    General Journal:

    General Journal is one in which a small business entity records all the day to day business transactions

    Special Journal:

    In the case of big business houses, the journal classifies into different books called special Day books. Transactions record in these special Day books based on their nature. These books also know as subsidiary books. It includes cash book, purchase day book, sales day book, bills receivable book, bills payable book, return inward book, return outward book, and journal proper.

    The Daybook proper uses for entering infrequent transactions such as opening entries, closing entries, and rectification entries.

    Characteristics or Highlights or Features of Copy Book or Journal in Accounting:

    The first step of the accounting process is to maintain a journal or journalizing of transactions. Journal has the following features:

    • Journal is the main effective advance of the twofold section framework. An exchange records most importantly in the journal. So the Daybook knows as the book of the original section.
    • An exchange record around the same time it happens. Along these lines, the journal calls Day Book.
    • Exchanges record sequentially, So, the journal knows as an ordered book
    • For every exchange, the names of the two concerned records demonstrating which charges and which credits, are obviously written in two back to back lines. This makes record posting simple. That is the reason the Day Book designates “Partner to Ledger” or “auxiliary book”
    • The portrayal composes beneath every section.
    • The sum writes in the last two segments – the charge sum in the charge section and the credit sum in the credit segment.

    From the definitions and its recording procedures, the following features of the journal mark:

    Book of essential passage:

    The primary phase of the bookkeeping cycle is to keep up a Day Book. Exchanges first record in the Daybook. That is the reason the Day Book knows as the fundamental book of records.

    Day by day record book:

    Not long after the event and recognizable proof of exchanges, these record in the Day Book in sequential order of dates. Since exchanges record on the day co-event in the Day Book, it knows as a day by a daily record book.

    Sequential order:

    Everyday exchanges record in a Day Book in sequential order of dates. For this explanation, the Daybook likewise calls an order book of records.

    Utilization of double parts of exchanges:

    According to the standards of the twofold passage framework, each exchange records in a Daybook in double viewpoints, for example, charging one record and crediting the other record.

    Utilization of clarification:

    Journal passage of each exchange trails by clarification or portrayal since clarifications of sections fill the need for future reference.

    Various segments:

    Each page of the journal separates into five segments: Date, account titles and clarification, record folio, charge cash section, and credit cash segment.

    An equivalent measure of cash:

    For the journal section of every exchange, a similar measure of cash writes in charge of cash and credit cash segments.

    Auxiliary book:

    Journalizing the exchange helps the planning of the record helpfully. That is the reason the Day Book knows as an auxiliary book to the record.

    Utilization of various journal books:

    Journal implies a general daybook. Be that as it may, considering size-nature and volume of exchanges daybooks sub-separate into numerous classes. For instance; Purchase daybook deals daybook, buy return daybook, deals return daybook, money receipt Journal, money payment daybook dry daybook appropriate. The employments of the Day Book resolve thinking about the need of the organization.

    Copy Book or Journal Meaning Definition Types Features Characteristics Advantages Benefits and Limitations Disadvantages Image
    Copy Book or Journal: Meaning, Advantages, and Futures; Image from Pixabay.

    The Utility or Advantages or Benefits of the Copy Book or Journal:

    The following advantages or benefits below are;

    An essential book of the original section:

    As the principal recording of exchange is done in the daybook, it knows as the book of the original section or prime passage. All business exchanges first discover a spot in quite a while and afterward, just the record in isolated record accounts.

    A central book following the twofold passage bookkeeping:

    In the wake of deciding the specific record to charge and credit, every exchange independently record. If we don’t open daybooks in an endeavor, the odds of keeping up books of records, according to the standards of the twofold section framework are far off.

    Exchanges in sequential order:

    All the exchanges record in the daybook in sequential order. In this way, the odds of discarding any exchanges in the books of records are dainty.

    Complete information about business exchanges:

    All journal passages support with brief portrayals. These portrayals help to comprehend the importance and motivation behind the exchange in future dates.

    Grouping of all exchanges gets simpler:

    All journal passages depend on vouchers and record in the journal as and when they happen. Thus, the exchanges are ordering immediately when they happen.

    Aides in the division of labor:

    In a huge business, a journal sub-separate into more than one. This sub-division assists with recording one sort of exchange in that book. For instance, deals book records just credit deals and buy book records just credit buys. These sub-journals took care of and constrained by various and separate people. In such cases, normally, that individual procures ability which causes the endeavor to accomplish its shared objective productively and adequately.

    Guarantees arithmetical precision:

    In the journal, the complete of the charge segment and credit segment should coordinate and concur. The difference is a speedy sign of the responsibility of certain errors, which can handily recognize and amended.

    Limitations or disadvantages of Copy Book or Journal:

    The following disadvantages or limitations below are;

    Massive and voluminous:

    Journal is the principal book of original passage which records all business exchanges. Now and again, it turns out to be so cumbersome and voluminous that it can’t be taken care of without any problem.

    Information in the dispersed form:

    In this book, all information records in routine and dispersed form; thus it is hard to find a specific exchange except if one recollects the date of the event of that exchange.

    Tedious:

    In contrast to posting from auxiliary books, posting the exchanges from daybook to record accounts take an excessive amount of time because each time one needs to post the exchanges in various record accounts.

    Absence of interior control:

    Dissimilar to different books of original sections like auxiliary books and money books, the daybook doesn’t encourage inner control, because the journal just exchanges record in sequential order. Be that as it may, auxiliary books and money book gives an away from of the unique sort of exchanges recorded in that.

  • Activity Based Costing: Meaning, Features, and Advantages

    Activity Based Costing: Meaning, Features, and Advantages

    What is ABC (activity based costing)? It is the collection of financial, operational, performance information tracing the significant activities of the firm to product costs in production management. In other words, the knowledge of find out estimates costs of production for product costs.

    What does mean ABC (activity based costing)? Meaning, Definition, Features or characteristics, advantages, and disadvantages.

    Activity-based costing (ABC) is a new term develop for finding out the cost. The basic feature of ABC is its focus on activities as the fundamental cost objects. It uses activities as the basis for calculating the costs of products and services. The Activity-Based Costing (ABC) is a costing system, which focuses on activities performed to produce products. ABC is the costing in which costs first trace to activities and then to products. This costing system assumes that activities are responsible for the incurrence of costs and create the demands for activities.

    For example, an online learning firm prepares tax returns; suppose Udemy teaches online students. Fees charge to products based on individual product’s use of each activity. In the traditional absorption costing system, fees first trace not to activities but an organizational unit, such as a department or plant and then to products. It means under both, ABC and traditional absorption costing system the second and final stage consists of tracing fees to the course.

    ABC activity based costing meaning definition features characteristics advantages limitations and disadvantages Image
    Activity Based Costing: Meaning, Features, and Advantages; Image from Pixabay.

    Definition of ABC (activity based costing):

    What is the ABC (activity based costing) definition? The following ABC definitions below;

    According to CIMA as;

    “Cost attribution to cost units on the basis of the benefit received from indirect activities e.g. ordering, setting up, assuring quality.”

    According to CAM-1 organization of Arlinton Texas as;

    “The collection of financial and operational performance information tracing the significant activities of the firm to product Costs.”

    It bases on the belief that in the production process various activities give rise to costs. Generally, Activity Based Costing (ABC) defines as an accounting technique that allows an organization to determine the actual cost associated with each product and service produced by the organization without regard to the organizational structure. Amongst various benefits associated with the ABC approach, one of the major ones is that it helps to define the activities of the organization in terms of value-adding activities.

    Features or Highlights or Characteristics of ABC (activity based costing):

    What are the ABC (activity based costing) features or highlights or characteristics? The following ABC features below;

    Features or Highlights or Characteristics of ABC (activity based costing) Image

    1. The simple traditional distinction made between fixed cost and variable cost is not enough to guide to provide quality information to design a cost system.
    2. It is a two-stage product costing method that first assigns costs to activities and then allocates them to products based on each product’s consumption of activities.
    3. They can use by any organization that wants a better understanding of the costs of the goods and services it provides, including manufacturing, service, and even non- profit organizations.
    4. The cost pools in the two-stage approach now accumulate activity-related costs.
    5. An activity is any discrete task that an organization undertakes to make or deliver a product or service.
    6. It bases on the concept that products consume activities and activities to consume resources.
    7. The more appropriate distinction between cost behavior patterns is scale related, scope related, decisions related, and time-related. In other words, cost behavior is all performance-related product costs.
    8. Cost drivers need to identify. A cost driver is a structural determinant of cost-related activity. The logic behind this is that cost drivers dictate the cost behavior pattern. In tracing overhead cost to the product, a cost behavior pattern must understand so that appropriate cost drivers could identify.

    ABC cost method is activity-based cost management:

    What is activity-based cost management? Cost management is an accounting method that calculates material costs, labor costs, management costs, financial costs, etc. according to certain standards by the current accounting system.

    This management approach sometimes fails to reflect the direct link between the activities undertaken and costs. Also, the ABC cost method is equivalent to a filter. It readjusts the original cost method so that people can see the direct connection between the cost consumption and the work they engage in so that people can analyze which cost inputs are effective. Which cost inputs are invalid.

    The ABC (activity based costing) cost method mainly focuses on the production and operation process, strengthens operation management, focuses on specific activities and corresponding costs, and strengthens activity-based cost management.

    Benefits or Merits or Advantages of ABC (activity based costing):

    What are the ABC (activity based costing) benefits or merits or advantages? The following ABC advantages below;

    Benefits or Merits or Advantages of ABC (activity based costing) Image

    Actual and accurate product costs:

    ABC brings actual, accuracy, and reliability in product costs determination by focusing on cause and effect relationships in the incurrence of the cost. It recognizes that it is activities which cause producing costs, not products and it is a product which consumes activities. In advanced manufacturing environment and technology where support functions over-heads constitute a large share of total or overall costs, ABC provides more realistic product costs. It produces reliable and correct product cost data in case of greater diversity among the products manufactured such as low-volume products, high-volume products.

    Knowledge and information regarding Cost Behavior:

    It identifies the real nature of cost behavior and helps in reducing costs and identifying activities that do not add value to the product, in other words producing costs. With ABC, managers can control many fixed overhead costs by exercising more control over the activities which have caused these fixed overhead costs. This is possible since the behavior of many fixed overhead costs about activities now becomes more visible and clear.

    Tracing of Activities for the Cost Object:

    ABC uses multiple cost drivers, many of which transaction-based rather than product volume. Further, ABC concern with all activities within and beyond the factory to trace more overheads to the products.

    Tracing of Overhead Costs:

    ABC traces costs to areas of managerial responsibility, processes, customers, departments besides the product costs. Costs tracing, accurate allocation of costs to various products lead to proper pricing policy. Also, Cost driver rates can use advantageously for the design of new products or existing products as they indicate overhead costs that are likely to apply in costing the product.

    Analysis and mentions of Non-manufacturing Costs:

    Some costs term as non-manufacturing costs; for example, product promotion or advertisement. Even though, advertising is a non-manufacturing cost which constitutes a major portion of the total cost of any product. These non-manufacturing costs can be easily allocated since the relationship between costs; and, their causes can properly understand by using ABC.

    Limitations or Demerits or Disadvantages of ABC (activity based costing):

    What are the ABC (activity based costing) limitations or demerits or disadvantages? The following ABC disadvantages below;

    Limitations or Demerits or Disadvantages of ABC (activity based costing) Image

    Service costs are High:

    Implementing an ABC system requires substantial resources, which is costly to maintain.

    Report or data collection problem:

    It is a complex system which needs a lot of record for calculations.

    Non-useable for small organizations:

    In small organizations, the CEO or owner or managers accustom to using traditional costing systems to run their operations and traditional costing systems often use in performance evaluations. Some companies are producing only one product or a few products; so, the ABC cannot apply in there.

    Activation or selection problem:

    Some difficulties emerge in the implementation of the ABC system; such as the selection of cost drivers, assignment of common costs, varying cost driver rates, etc.

    Different timeline of terms:

    Since there are a lot of steps and groundwork required to come out with a costing based on this system, it is quite a time to consume. For example, large companies for the best costing system they produce the large size of production and give many products to us, but small or single handle company produces and give a single product. So, the large or multinational company collects many records and ABC work easy for long-term periods, as well as small organizations for difficult in short-term periods.

  • What are the Features of Sole Proprietorship?

    What are the Features of Sole Proprietorship?

    Sole proprietorship highlights or characteristics or Features; It refers to a business organization in which enterprises are controlled or owned by a single person. The sole proprietorship is the oldest form of business enterprise in India. It is the simplest form of business and all the risks or losses are bearer by a single person. Also, if he wants any help they can get it from their friends, family, or relatives. It doesn’t require any legal recognition or formalities and the simplest way to open a business. Also learn, Sole Proprietorship: the Advantages and Disadvantages!

    Explaining, What are the highlights or characteristics or Features of Sole Proprietorship?

    Also, A sole proprietorship is a business owned by a single individual. This sole owner is responsible for the entire business and is the sole recipient of the business’s earnings. Unlike other legal structures, the sole proprietorship requires less paperwork and is subject to few business restrictions and regulations.

    15 best Features of Sole Proprietorship:

    The main highlights or characteristics or features of the sole proprietorship form of business can list as follows:

    One Man Ownership:

    In the proprietorship, only one man is the owner of the enterprise.

    No Separate Business Entity:

    No distinction is made between the business concern and the proprietor. Both are the same.

    No Separation between Ownership and Management:

    In the proprietorship, management rests with the proprietor himself/herself. The proprietor is a manager also.

    Unlimited Liability:

    Unlimited liability means that in case the enterprise incurs losses, the private property of the proprietor can also utilize for meeting the business obligations to outside parties. As there is no division between the business and the business person, accordingly the individual risk of the entrepreneur is boundless. If the business can’t pay its obligations and liabilities, at that point, the entrepreneur is responsible for the equivalent and pay them. For example, the proprietor needs to pay the forthcoming sum either by selling their resources or property, a house, care, and others.

    All Profits or Losses to the Proprietor:

    Being the sole owner of the enterprise, the proprietor enjoys all the profits earned and bears the full brunt of all losses incurred by the enterprise.

    A Less-Formalities:

    A proprietorship business can start without completing many legal formalities. Some businesses too can start simply after obtaining the necessary manufacturing license and permits.

    Personal Organization or Common Identity:

    A sole traders’ concern has no separate legal entity independent of the owner. The owner and the business concern are the same. The owner owns everything the business owns and he owes everything the business owns.

    Capital:

    In the sole traders, the capital is employing by the owner himself from his personal resources. He may also borrow money from his friends and relatives if he cannot depend solely on his personal resources.

    Profits and Losses:

    The surplus arising in the business of the sole trader entirely belongs to him and similarly, all the business losses and risks are to be borne by him alone.

    No Special Legislation:

    Sole traders are not governing by any special legislation. A partnership firm is governing by the Partnership Act, a joint-stock company is governing by the Companies Act, and a co-operative society by the Co-operative Societies Act. Any person who is competent to contract can start his business as a sole trader. However, he is subject to the common law, the law of contract, and the law of insolvency.

    The concept of Unlimited Liability. As well as, the liability of a shareholder or member of a company or a co-operative society limits to the extent of the face value of the shares held by him. For example, if Mr. X subscribes to 100 shares of Rs. 10 each, his total liability is unto Rs. 1,000 only. If he has already paid Rs.5 per share, his liability will restrict to the unpaid portion of his shares, i.e., Rs. 500 only. Thus, there is a limit to the extent of liability of the shareholder of a company.

    What are the Features of Sole Proprietorship - ilearnlot
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    No Legal Formalities:

    There is no different law-related with a sole proprietorship to oversee it and accordingly, there is no presence of any arrangement of extraordinary standards just as guidelines to follow. Also, best of all, it doesn’t require either any enrollment or consolidation of any sort. Much of the time, we require just the permit to fire up the ideal business. Like that of the beginning, there are no legitimate tasks joined to the end methods. Along these lines, it gives effortlessness to start a business and do it with less issue.

    Danger and Profit:

    The proprietor of this business is the danger carrier in a sole exclusive. Since the business person is the main individual who put resources into the business monetarily, so all dangers have a place with him in particular. Regardless of whether the business fizzles or develops, the proprietor is the individual who gets influenced by the equivalent. Actually, he additionally appreciates all benefits acquired from the business. There is no compelling reason to separate and offer benefits with partners as there is no presence. Consequently, he bears all dangers and acquires benefits as well.

    No different legitimate character:

    In legitimate terms, the business and the proprietor are not treated independently as both are the one and same thing. No different legitimate element has a place with a sole owner and the proprietor is entirely and solely answerable for all business exercises and exchanges.

    Progression:

    As we as a whole realize that the business and the proprietor have a similar character. In this way, a sole proprietorship has altogether depended on the entrepreneur. A few variables influence a sole proprietorship, for example, retirement, craziness, demise, and detainment. In such a circumstance, the sole proprietorship puts to an end.

    Control:

    As all the business activities and duties lie with the sole owner, so he controls all the business solely. No other individual can participate in business exercises and the proprietor can alter or grow the business according to their solace and plans.

    These are altogether highlights or characteristics or features of a sole proprietorship that will clarify what precisely the business structure and how it runs. Let us take a look at the upsides of selecting a sole proprietorship that we will write down underneath.