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Table of Contents

Chapter Title and Contents P age N o.


PART-I Chapter-1: Fundamentals of Business
Business : An Introduction Business Today Business in the Next Century: Step Towards Blue Ocean Strategy Why do We Study business? Elements of Business Common Features/ Characteristics of Business Importance/ Role of Business in Socio-Economic Development of a Country (e.g. Bangladesh) Functions of a Business Barriers to or Constraints of Business Profit: :The Reward after Overcoming the Barriers Types of Profit Why Does a Business Need to Make Profit? Prerequisites of Business Profit / a Successful Business Organization Business Objectives/ Goals Branches of Business Factors of Production Areas of Business: An Ilustration Great Qualities of a Good Businessman Questions for Discussion

1 3 6 8 9 11 13 14 17 19 19 19 19 21 24 30 30 31 34

Chapter-2: Economic System

Economic System Types of Economic System Capitalism or Free Market Economy Socialism Communism Mixed Economic Systems Questions for Discussion

35 35 35 37 37 38 40

Chapter-3: Business Environment

Meaning Features of Business Environment Importance of Business Environment Elements/ Types of Business Environment Questions for Discussion

41 41 42 43 49

Chapter-4: Business Ethics and CSR

Business Ethics Principles of Business Ethics Nature/ Features of Business Ethics Business Ethics and Social Responsibility of Business

50 51 52 53

Social Responsibility Concept of Social Responsibility in Business Why Should Business be Socially Responsible? Responsibility Toward Different Interest Groups Questions for Discussion

56 57 59 63

Chapter-5: Size and Location of Business

Size of Business Unit Measures of Size Factors Affecting the Size of the Firm Size of Business Organization: An Illustration Factors Determining Size of Business Optimum size of Business Rationale of the Concept of Optimum Size Representative Firm Equilibrium Firm Business Location Objectives of Business Location Location Analysis Comparative Costs of Alternative Locations Factors to be Considered in Selecting Business Location Business Efficiency How can the Efficiency of Business Ensured or Increased? Questions for Discussion

64 65 67 67 68 69 70 71 71 72 72 73 74 75 76 77 78

PART-II Chapter 6: Business Organization

Basic Forms of Business Ownership Factors Determining Types Of Your Business Considerations in Choosing the Form of Ownership Questions for Discussion

79 80 82 84

Chapter-7: Sole Proprietorship Business

Sole proprietorship Characteristics of Sole Proprietorship Advantages of Sole Proprietorship Disadvantages of Sole Proprietorship Suitability of Sole Proprietorship Form of Business Causes of Popularity of Sole Proprietorship Reasons for Survival of Small Scale Firms (Proprietorship) Difference between Partnership and Sole Proprietorship form of Business Organization One man control is the best in the world if that one man is big enough to manage everything Questions for Discussion

85 86 88 90 91 92 94 95 96 97

Chapter-8: Partnership Business

Meaning of Partnership Features of Partnership Form of Business Organization Advantages of Partnership Form of Business Organization Disadvantages/ Limitations of Partnership form of Business Organization Types of Partners Suitability of Partnership Form of Business Organization Types of Partnerships Advantages of Limited Partnership Disadvantages of Limited Partnership Partnership Deed: The Essence of Partnership Business Importance of Partnership Deed Clauses or Contents of Partnership Deed Registration of a Partnership Firm: Who Can or Cannot be a Partner? Status of a Minor in Partnership Business Rights of a Minor in Partnership Firm Liability of a Minor Position on attaining majority Can a Company be a Partner? Rights and Obligations of a Partner in the Absence of a Partnership Deed Rights of a Partner Duties or Obligations of a Partner Liabilities of a Partner to Third Parties Dissolution a Partnership: The Ways Questions for Discussion

98 99 102 104 105 107 107 108 109 109 110 111 112 113 114 115 115 115 115 115 116 116 118 119 122

Chapter-9: Joint Stock Company

Nature of Joint Stock Company Features of the Joint Stock Company Advantages of Joint Stock Company Disadvantages of Joint Stock Company

122 124 126 128

Suitability of Joint Stock Company Classification of Companies Formation of a Company Effect of Certificate of Incorporation Private Company Advantages of Private Limited Company Disadvantage of Private Limited Company Features of Public Limited Company Advantages of Public Limited Company Disadvantages of a Public Limited Company Private Limited vs. Public Limited Company Memorandum and Articles of Association Features of Memorandum of Association Purpose of Memorandum of Association Importance of Memorandum Contents of Memorandum Alteration of Memorandum Articles of Association Features of Articles of Association Purpose of Articles of Association Subject Matter of Articles/ Contents Difference Between Memorandum and Articles of Association Alteration of Articles Effect of Memorandum and Articles/Binding Force of Memorandum and Articles Prospectus and Statement in Lieu of Prospectus Statement in Lieu of Prospectus Share & Share Capital Classes of Share Capital Share vs. Stock Mode of Share Issue Raising of Capital/issue of Shares Debentures Characteristics/ Features of a Debenture Types of Debentures Company Management & Remuneration Appointment of Directors Disqualification of Directors (Sec. 274) Qualifications and Disqualifications of Directors Vacation of Office, Removal and Resignation of Directors Removal of Directors Managerial Remuneration Meetings of Directors (Sec. 285 to 288) Powers of Directors Duties of Directors Liabilities of Directors Other Managerial Personnel Managing Director Types of Company Meetings Resolutions Circumstances When a Special Resolution is Required Winding Up Consequences of Winding Up Company Registration Process of the Registration of the Firm Advantages / Importance of Registration General Advantages of Registration of a Firm Consequences or Effect of Non-Registration Questions for Discussion

129 129 134 136 137 138 139 140 141 143 144 145 146 146 146 147 150 151 152 152 152 153 154 154 155 158 158 159 160 163 164 166 166 167 170 170 172 172 172 173 173 173 174 175 176 176 176 177 180 182 183 185 185 185 186 187 188 189

Chapter-10: Co-operative Society

History of Co-operative Society Philosophy of Co-operative Society Definition Features of Co-operative Society Characteristics of Cooperative Society The Principles of Co-operative Society Objectives of Cooperative Society Role of co-operative society Merits or Advantages of Cooperative Society Disadvantages or Limitations or Demerits or Defects causes of failure of Cooperative Society Formation of a Co-operative Society Requirements for Registration Classification of Cooperative societies

190 190 191 192 195 197 199 200 201 203 205 206 206

Differences between Co-Operatives and Company Factors responsible for survival of co-operative organizations Problems of Co-operative Society in Bangladesh Solution of the Problem Questions for Discussion

210 211 213 215 218


Chapter-11: State Enterprise

Historical Background/ Reasons Behind the Emergence of State Enterprise Definition Objectives of State Enterprises Characteristics of State Enterprise Difference Between Private and Public Sector Enterprises Success Factors or Cause of Growth of State Enterprise Different Forms of Public Sector Enterprises Arguments against Public Enterprise Arguments for Public Enterprise Problems of State Enterprise in Bangladesh Means or Ways of solving the problem Questions for Discussion

219 221 223 225 226 227 229 236 237 238 241 244

PART-III Chapter-12: Institutions for Promotion of Business

Governmental Support Services Export Promotion Bureau (EPB) Chamber of Commerce The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Dhaka Chamber of Commerce & Industry (DCCI) What is Stock Exchange? Causes of Price Fluctuation of Stock Securities and Exchange Commission (SEC) Dhaka Stock Exchange (DSE) Chittagong Stock Exchange (CSE) The Board of Investment (BOI) Privatization Commission Bangladesh Small and Cottage Industries Corporation (BSCIC) Bangladesh Shilpa Bank Bangladesh Shilpa Rin Sangstha Bangladesh Development Bank Limited (BDBL) Export Processing Zone (EPZ) Questions for Discussion

245 246 248 250 253 254 256 257 257 259 260 262 265 266 268 269 270 273

PART-IV Chapter-13: Trade Practices in Bangladesh

Commercial Policy The Instruments of Commercial Policy Foreign Trade Features of Foreign Trade Classification of Foreign Trade Reasons/ Need/ Importance/ Advantages of Foreign Trade Problems of Foreign Trade (Export and Import) in Bangladesh Measures to Overcome the Problems Documents Used in Foreign Trade The Procedure of Exporting Goods The Procedure of Importing Goods Letter of Credit (L/C) Characteristics of Letter of Credit Benefits of a Letter of Credit Steps in an Import Letter of Credit Transaction Steps in an Export Letter of Credit Transaction Documents Usually Required Under a Letter of Credit Payment Procedure L/C What to Do if Documents are Dishonored? Parties Involved in a Letter of Credit Transaction Common Problems with Letters of Credit Questions for Discussion

274 274 277 278 278 279 281 281 283 298 299 299 300 306 306 308 308 311 311 312 313 314

PART-V Chapter-14:Business Combination

Business Combination Causes/Reasons of Business Combination Advantages of Business Combination Disadvantages of Business Combination Types of Combinations Forms of Combinations Difference between Merger and Acquisition

315 315 317 317 318 321 326

Benefits of Merger and Acquisition Problems of Merger and Acquisition Strategies of Merger and Acquisition Process of Merger and Acquisition Success of Merger and Acquisition Amalgamation Vs Merger Questions for Discussion

326 328 329 329 331 333 334


PART-VI Chapter-15: Functional Areas of Business

Functional Areas in Business The Purposes of Functional Areas of Business The Administrative Function The Customer Service Function The Distribution Function The Finance Function The Human Resources (HR) Function The ICT Function The Marketing Function The Sales Function The Production function The Research and Development (R & D) Function Relationships Among Different Functional Areas Questions for Discussion

335 336 336 337 338 339 340 342 343 345 346 349 350 352

PART-VII Chapter-16: International Business

An Introduction to International Business Features of International Business Impact of International Business on Participating Countries Importance of International Business Key Factors Affecting the International Business Advantages of International Business Disadvantages of International Business Modes of Entry in International Business or Approaches to International Business Difference Between Licensing and Franchising Difference Between International Business and Domestic Business Theories of International Business Obstacles to International Business Terms Associated With International Business Questions for Discussion

353 354 354 355 355 357 357 357 359 364 366 368 370 372


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