Meaning of Promotion

Promotion refers to those activities which are undertaken to bring a business enterprise into extistence. It is a business term which denotes a number of business operations familiar to the business world by which a company is generally brought into existence. It is the process of exploration, investigation, planning and organisation of necessary resources with the objective of setting up a new business opportunities, and the subsequent organisation of funds, properties and managerial ability into a business concern for the purpose of making profits therefrom." The process of promotion beings with conception of an idea from which the business is to be evolved an ends with the translation of the idea into a business as a going concern. Persons who perform the ask of promotion are known as promoter or entrepreneurs. A promoter conceived of the idea of a business enterprise, analyses its prospects, work out a tentative scheme of organisation, bring together the necessary resources of money, materials, machinery, people and managerial ability, and floats an enterprise.


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Dissolution of Firm

A distinction should be made between the 'dissolution of partnership' and 'dissolution of firm'. Dissolution of partnership implies the termination of the original partnership agreement or change in contractual relationship among partner. A partnership is dissolved by the insolvency, retirement, incapacity, death, expulsion, etc., of a partner or no the expiry/ completion of th tern/ venture of partnership. A partnership can be dissolved without dissolved the firm. In dissolution of partnership, the business of the by entering into a new agreement. On the other hand, dissolution of firm implies dissolution between all the partner. The business of the partnership firm comes to an end. Its assents are realized and the creditors are paid off. Thus, dissolution of firm always involves dissolution of partnership but the dissolution of partnership does not necessarily mean dissolution of the firm.


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Location of Business

The location of a business firm is an important decision as it influences the costs, profitability and growth of the enterprise. Moreover, once the site is selected, it is very difficult to change it. An unfavourable location may restrict the growth of the firm in addition to higher costs. The objective of location is a three-stage process as it involves not the selection of the region, but choice of locality and selection of the site. Region is selected on the basis of access to raw materials and markets, availability of labour, transportation, and banking facilities. Choice of locality or community is governed by local attitudes, managerial preferences, public facilities, climate, availability of site, financial inducements, etc. Selection of the site depends on cost of lnd, soil and surface, development costs, etc.

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Industrial Estates in India

The Government of India launched the programme of industrial estates in 1955. The responsibility for planning, development, construction and management of industrial estates rests with the respective State Governments. However, the Central Government provides financial assistance in various forms to the State Governments for the development of industrial estates. Industrial estates are located in urban areas, semi-urban areas and rural areas in the country. Experience reveals that urban industrial estates have been more successful than semi-urban and rural ones. Units which have been more set up in backward regions have faced the problem of basic infrastructure. Therefore, such infrastructure must be provided in rural areas.

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Strategic Considerations

Like law and order, political stability, local rates and taxes, state patronage, etc. should also be taken into consideration. Naturally, every entrepreneur likes to locate his unit those areas which are not subject to riots and political disturbances.

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