Tag: Industrial Law Notes

To run the business successfully, it is necessary to understand the environment with in which the business operates. Business environment j is a set of external factors that affects the business decisions.

The environment, which lies outside the organization, is known as external environment. External factors are unpredictable and uncontrollable. They are beyond the control of the company.

According to William Glueck and Jauck, “In environment there are several factors which constantly bring opportunities and threats to the business firm. It includes social, economic, technological and political conditions”.

1. Firm

The plans and policies of the firm should be properly framed taking into consideration the objectives and resources of the firm. Proper plans and policies help the firm to accomplish its objectives.

The higher authority must analyze the internal environment to foresee the changes and frame appropriate policies well in time.

For example: the personnel policy in respect of promotion should be based on merit rather than seniority.

The survival and success of the firm largely depends on the quality of human resources. The social behaviour of the employees greatly affects the working of the business. The characteristics of human resource like skill, quality, morale, commitment can contribute to the success of the organization

Capital is the lifeblood of every business. Finance relates to money. A firm needs adequate funds to meet its working capital and fixed capital requirements. There is a need to have proper management of working capital and fixed capital.

A firm should develop, maintain and enhance a good corporate image in the minds of employees, investors, customers etc. Poor corporate image is a weakness of the firm.

2. Customer

Consumer is the king of the market. They are the centers of the business. They are one of the most important factors in the external environment. Customer satisfaction has become more challenging due to globalization.

Nowadays, consumer expectations are high. Therefore the firm must keep in mind the customer’s expectations, their requirements and accordingly make market decisions. The success of the business depends upon identifying the needs, wants, likes and dislikes of the customers and meeting with their satisfaction.

Businesses have different classes of customers like wholesale customers, retail customers, industrial customer’s foreign customers etc. To enhance growth, it is necessary for the business firm to identify the needs of these customers and should undertake research and developmental activities.

3. Suppliers

Suppliers supply raw material, machines, equipment’s and other supplies. The company has to keep a watch over prices and quality of materials and machines supplied. It also has to maintain good relations with the suppliers.

It is necessary to have reliable source of supply for the smooth working of the firm. Uncertain supplies compel the firm to maintain high inventories resulting into increase in the cost. The business should not only rely on the single supplier but also have relations with multiple suppliers.

4. Distributors

Distributors include agents and brokers who help the business firm to find the customers. They help the firm to promote and distribute the goods to the final consumers.

They are the link between the firm and the final customers. Market intermediaries include wholesalers, retailers, advertising firm, media, transport agencies, banks, financial institutions etc. They assist the company in promoting and targeting its product to the right market.

5. Competitors

The company has to identify its competitor’s activities. Information must be collected about competitors in respect of their prices, products, and promotion and distribution strategies. World is becoming a global market.

Business firm has to face tremendous competition not only from Indian business firm but also from foreign firms. To achieve growth and success they have to monitor various activities of their competitors.

Liberalization, privatization and globalization have promoted competition that has created threats to domestic units. The business must understand the strategies framed by the competitors to respond in an effective manner.

6. Society

Society affects company’s decisions. The expectation of the society from the business is increasing. Therefore the business firm maintains public relations department to handle complaints, grievances and suggestions from general public. The members of the society include:

(i) Financial institutions

(ii) Shareholders

(iii) Government

(iv) Employees

(v) General public

Everything you need to know about the components of business environment. Business environment refers to those aspects of the surroundings of business enterprise which affect or influence its operations and determine its effectiveness.

Andrews has also rightly defined the environment of a company as the pattern of all external influences that affect its life and development. Keith Davis too has also observed that business environment is the aggregate of all conditions, events and influences that surround and affect it.

The business environment is always changing and is uncertain. It is because of this that it is said that the business environment is the sum of all the factors outside the control of management of a company the factors which are constantly changing and they carry with them both opportunities and risks or uncertainties which can make or mar the future of business.

(i) Economical Environment:

Economic Environment consists of Gross Domestic Product, Income level at national level and per capita level, Profit earning rate, Productivity and Employment rate, Industrial, monetary and fiscal policy of the government etc.

The economic environment factors have immediate and direct impact on the businessman so businessmen must scan the economic environment and take timely actions to deal with these environments. Economic environment may put constraints and may offer opportunities to the businessman. After the new economic policy of 1991, lots of opportunities are offered to businessmen. The common factors which have influenced the Indian economic environment are

(a) Banking sector reform has led to many attractive schemes of deposits and lending money. The Banks are offering loans at very nominal rate of interest and with minimum formalities to be completed.

(b) Recent changes in economic and fiscal policy of country have encouraged NRIs and foreign investors to invest in Indian companies.

(c) Lots of economic reforms are taking place in leasing and financing institutions. The private sector is allowed to enter in financial institutions; as a result customers are gaining.

Some Aspects of Economic Environment:

1. Role of Private and Public sector
2. Rate of growth of GDP, GNP, and Per Capita Income
3. Rate of Saving and Investment
4. Balance of Trade
5. Balance of Payment
6. Transport and Communication System
7. Money Supply in the Economy
8. International Debt

(ii) Social Environment:

Social Environment consists of the customs and traditions of the society in which business is existing. It includes the standard of living, taste, preferences and education level of the people living in the society where business exists.

Social Environment

The businessman cannot overlook the components of social environment as these components may not have immediate impact on the business but in the long run the social environment has great impact on the business.

For example, when the Pepsi Cola Company used the slogan of “Come Alive” in their advertisement then the people of a particular region misinterpreted the word “Come Alive” as they assumed it means Coming out of Graves. So, they condemned the use of the product and there was no demand of Pepsi Cola in that region. So, the company had to change its advertisement slogan as it cannot survive in market by ignoring the sentiments of the people.

In India also, there are many Social reforms taking place and the common factors of Indian Social Environment are:

(a) Demand for reservation in jobs for minority and women

(b) Demand for equal status of women by paying equal wages for male and female workers

(c) Demand for automatic machines and luxury items in middle class families

(d) The social movements to improve the education level of girl child.

(e) Health and Fitness trend has become popular.

Some Aspects of Social Environment:

1. Quality of life
2. Importance or place of women in workforce
3. Birth and Death rates
4. Attitude of customers towards innovation, life style etc.
5. Education and literacy rates
6. Consumption habits
7. Population
8. Tradition, customs and habits of people

(iii) Political Environment:

Political environment constitutes all the factors related to government affairs such as type of government in power, attitude of government towards different groups of societies, policy changes implemented by different governments etc. The political environment has immediate and great impact on the business transactions so businessman must scan this environment very carefully.

Political Environment

The businessman has to make changes in his organisation according to the changing factor of political environment. For example, in 1977 when Janata Government came in power they made the policy of sending back all the foreign companies. As a result the Coca Cola Company had to close its business and leave the country.

The common factors and forces which have influenced the Indian political environment are:

(a) The government in Hyderabad is taking keen interest in boosting I.T. industry, as a result the state is more commonly known as Cyber bad instead of Hyderabad.

(b) After the economic policy of liberalisation and globalisation, the foreign companies got easy entry in India. As a result, the Coca Cola which was sent back in 1977 came back to India. Along with Coca Cola, Pepsi Cola and many other foreign companies are establishing their business in India.

Some Aspects of Political Environment:

1. Present political system
2. Constitution of the country
3. Profile of political leaders
4. Government intervention in business
5. Foreign policy of government
6. Values and ideology of political parties

(iv) Legal Environment:

Legal environment constitutes the laws and various legislations passed in the parliament. The businessman cannot overlook the legislations because he has to perform his business transactions within the framework of legal environment.

Legal Environment

The common legislation passed which has affected the business transactions are Trade Mark Act, Essential Commodity Act, Weights and Measures Act, etc. Most of the time legal environments put constraints on the businessman but sometimes they provide opportunities also. The common instances of Indian legal environment which have influenced business transactions recently are:

1. Deregulation of capital market has made it easy for businessman to collect capital from primary market.
2. Removal of control from the foreign exchange and liberalisation in investment is encouraging foreign investors and NRIs to invest in Indian capital market.
3. Advertisement of alcoholic product is prohibited.
4. Compulsory to give statutory warning in Tobacco production.
5. Delicencing policy of industries.

Some Aspects of Legal Environment:

1. Various laws and legislative acts.
2. Legal policies related to licensing.
3. Legal policies related to foreign trade.
4. Statutory warnings essential to be printed on label.
5. Foreign Exchange Regulation and Management Act.
6. Laws to keep a check on Advertisements.

(v) Technological Environment:

Technological environment refers to changes taking place in the method of production, use of new equipment and machineries to improve, the quality of product. The businessman must closely monitor the technological changes taking place in his industry because he will have to implement these changes to remain in the competitive market.

Technological Environment

Technological changes always bring quality improvement and more benefits for customers. The recent technological changes of Indian market are:

1. Digital watches have killed the prospects and the business of traditional watches.
2. Color T.V. technology has closed the business of black and white T.V.
3. Artificial fabric has taken the market of traditional cotton and silk fabrics.
4. Photo copier and Xerox machines have led to the closure of carbon paper business.
5. Shift in Demand from vacuum tubes to transistors.
6. Shift from steam locomotives its diesel and electric engine.
7. From typewriter to World Processors.

Some Aspects of Technological Environment:

1. Various Innovations and Inventions.
2. Scientific Improvements.
3. Developments in IT sector
4. Import and Export of Technology.
5. Technological Advances in Computers.

A report is a document that presents information in an organized format for a specific audience and purpose. Although summaries of reports may be delivered orally, complete reports are almost always in the form of written documents.

The significance of the reports includes:

• Reports present adequate information on various aspects of the business.
• All the skills and the knowledge of the professionals are communicated through reports.
• Reports help the top line in decision making.
• A rule and balanced report also help in problem solving.
• Reports communicate the planning, policies and other matters regarding an organization to the masses. News reports play the role of ombudsman and levy checks and balances on the establishment.

Structure of a report

A typical report would include the following sections in it:

• Title page
• Executive summary
• Table of contents
• Introduction
• Discussion or body
• Conclusion
• Recommendations
• Reference list
• Appendices

1. Formal or Informal Reports:

Formal reports are carefully structured; they stress objectivity and organization, contain much detail, and are written in a style that tends to eliminate such elements as personal pronouns. Informal reports are usually short messages with natural, casual use of language. The internal memorandum can generally be described as an informal report.

2. Short or Long Reports:

This is a confusing classification. A one-page memorandum is obviously short, and a twenty-page report is clearly long. But where is the dividing line? Bear in mind that as a report becomes longer (or what you determine as long), it takes on more characteristics of formal reports.

3. Informational or Analytical Reports:

Informational reports (annual reports, monthly financial reports, and reports on personnel absenteeism) carry objective information from one area of an organization to another. Analytical reports (scientific research, feasibility reports, and real-estate appraisals) present attempts to solve problems.

4. Proposal Report:

The proposal is a variation of problem-solving reports. A proposal is a document prepared to describe how one organization can meet the needs of another. Most governmental agencies advertise their needs by issuing “requests for proposal” or RFPs. The RFP specifies a need and potential suppliers prepare proposal reports telling how they can meet that need.

5. Vertical or Lateral Reports:

This classification refers to the direction a report travels. Reports that more upward or downward the hierarchy are referred to as vertical reports; such reports contribute to management control. Lateral reports, on the other hand, assist in coordination in the organization. A report traveling between units of the same organization level (production and finance departments) is lateral.

6. Internal or External Reports:

Internal reports travel within the organization. External reports, such as annual reports of companies, are prepared for distribution outside the organization.

7. Periodic Reports:

Periodic reports are issued on regularly scheduled dates. They are generally upward directed and serve management control. Preprinted forms and computer-generated data contribute to uniformity of periodic reports.

8. Functional Reports:

This classification includes accounting reports, marketing reports, financial reports, and a variety of other reports that take their designation from the ultimate use of the report. Almost all reports could be included in most of these categories. And a single report could be included in several classifications.

Although authorities have not agreed on a universal report classification, these report categories are in common use and provide a nomenclature for the study (and use) of reports. Reports are also classified on the basis of their format. As you read the classification structure described below, bear in mind that it overlaps with the classification pattern described above.

1. Preprinted Form:

Basically for “fill in the blank” reports. Most are relatively short (five or fewer pages) and deal with routine information, mainly numerical information. Use this format when it is requested by the person authorizing the report.

Letter:

Common for reports of five or fewer pages that are directed to outsiders. These reports include all the normal parts of a letter, but they may also have headings, footnotes, tables, and figures. Personal pronouns are used in this type of report.

Memo:

Common for short (fewer than ten pages) informal reports distributed within an organization. The memo format of “Date,” “To,” “From,” and “Subject” is used. Like longer reports, they often have internal headings and sometimes have visual aids. Memos exceeding ten pages are sometimes referred to as memo reports to distinguish them from shorter ones.

Manuscript:

Common for reports that run from a few pages to several hundred pages and require a formal approach. As their length increases, reports in manuscript format require more elements before and after the text of the report. Now that we have surveyed the different types of reports and become familiar with the nomenclature, let us move on to the actual process of writing the report.

Feasibility Reports

A feasibility study is an assessment of the practicality of a proposed project or system. A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the natural environment, the resources required to carry through, and ultimately the prospects for success. In its simplest terms, the two criteria to judge feasibility are cost required and value to be attained.

A well-designed feasibility study should provide a historical background of the business or project, a description of the product or service, accounting statements, details of the operations and management, marketing research and policies, financial data, legal requirements and tax obligations. Generally, feasibility studies precede technical development and project implementation. A feasibility study evaluates the project’s potential for success; therefore, perceived objectivity is an important factor in the credibility of the study for potential investors and lending institutions. It must therefore be conducted with an objective, unbiased approach to provide information upon which decisions can be based.

Types

Technical feasibility

This assessment is based on an outline design of system requirements, to determine whether the company has the technical expertise to handle completion of the project. When writing a feasibility report, the following should be taken to consideration:

• A brief description of the business to assess more possible factors which could affect the study
• The part of the business being examined
• The human and economic factor
• The possible solutions to the problem

Method of production

The selection among a number of methods to produce the same commodity should be undertaken first. Factors that make one method being preferred to other method in agricultural projects are the following:

• Availability of inputs or raw materials and their quality and prices.
• Availability of markets for outputs of each method and the expected prices for these outputs.
• Various efficiency factors such as the expected increase in one additional unit of fertilizer or productivity of a specified crop per one thing.

Production technique

After we determine the appropriate method of production of a commodity, it is necessary to look for the optimal technique to produce this commodity.

Project requirements

Once the method of production and its technique are determined, technical people have to determine the projects’ requirements during the investment and operating periods. These include:

• Determination of tools and equipment needed for the project such as drinkers and feeders or pumps or pipes …etc.
• Determination of projects’ requirements of constructions such as buildings, storage, and roads …etc. in addition to internal designs for these requirements.
• Determination of projects’ requirements of skilled and unskilled labor and managerial and financial labor.
• Determination of construction period concerning the costs of designs and consultations and the costs of constructions and other tools.
• Determination of minimum storage of inputs, cash money to cope with operating and contingency costs.

Project location

The most important factors that determine the selection of project location are the following:

• Availability of land (proper acreage and reasonable costs).
• The impact of the project on the environment and the approval of the concerned institutions for license.
• The costs of transporting inputs and outputs to the project’s location (i.e., the distance from the markets).
• Availability of various services related to the project such as availability of extension services or veterinary or water or electricity or good roads …etc.

Legal feasibility

It determines whether the proposed system conflicts with legal requirements, e.g., a data processing system must comply with the local data protection regulations and if the proposed venture is acceptable in accordance to the laws of the land.

Operational feasibility study

Operational feasibility is the measure of how well a proposed system solves the problems, and takes advantage of the opportunities identified during scope definition and how it satisfies the requirements identified in the requirements analysis phase of system development.

The operational feasibility assessment focuses on the degree to which the proposed development project fits in with the existing business environment and objectives with regard to development schedule, delivery date, corporate culture and existing business processes.

To ensure success, desired operational outcomes must be imparted during design and development. These include such design-dependent parameters as reliability, maintainability, supportability, usability, producibility, disposability, sustainability, affordability and others. These parameters are required to be considered at the early stages of design if desired operational behaviours are to be realised. A system design and development requires appropriate and timely application of engineering and management efforts to meet the previously mentioned parameters. A system may serve its intended purpose most effectively when its technical and operating characteristics are engineered into the design. Therefore, operational feasibility is a critical aspect of systems engineering that needs to be an integral part of the early design phases.

Time feasibility

A time feasibility study will take into account the period in which the project is going to take up to its completion. A project will fail if it takes too long to be completed before it is useful. Typically, this means estimating how long the system will take to develop, and if it can be completed in a given time period using some methods like payback period. Time feasibility is a measure of how reasonable the project timetable is. Given our technical expertise, are the project deadlines reasonable? Some projects are initiated with specific deadlines. It is necessary to determine whether the deadlines are mandatory or desirable.

Resource feasibility

Describe how much time is available to build the new system, when it can be built, whether it interferes with normal business operations, type and amount of resources required, dependencies, and developmental procedures with company revenue prospectus.

Financial feasibility

In case of a new project, financial viability can be judged on the following parameters:

• Total estimated cost of the project
• Financing of the project in terms of its capital structure, debt to equity ratio and promoter’s share of total cost
• Existing investment by the promoter in any other business
• Projected cash flow and profitability

An executive summary (or management summary) is a short document or section of a document produced for business purposes. It summarizes a longer report or proposal or a group of related reports in such a way that readers can rapidly become acquainted with a large body of material without having to read it all. It usually contains a brief statement of the problem or proposal covered in the major document(s), background information, concise analysis and main conclusions. It is intended as an aid to decision-making by managers and has been described as the most important part of a business plan.

An executive summary differs from an abstract in that an abstract will usually be shorter and is typically intended as an overview or orientation rather than being a condensed version of the full document. Abstracts are extensively used in academic research where the concept of the executive summary is not in common usage. “An abstract is a brief summarizing statement… read by parties who are trying to decide whether or not to read the main document”, while “an executive summary, unlike an abstract, is a document in miniature that may be read in place of the longer document”.

Importance

Executive summaries are important as a communication tool in both academia and business. For example, members of Texas A&M University’s Department of Agricultural Economics observe that “An executive summary is an initial interaction between the writers of the report and their target readers: decision makers, potential customers, and/or peers. A business leader’s decision to continue reading a certain report often depends on the impression the executive summary gives.”

An executive summary of a business plan is an overview. Its purpose is to summarize the key points of a document for its readers, saving them time and preparing them for the upcoming content.

Think of the executive summary as an advance organizer for the reader. Above all else, it must be clear and concise. But it also has to entice the reader to read the rest of the business plan.

This is why the executive summary is often called the most important part of the business plan. If it doesn’t capture the reader’s attention, the plan will be set aside unread – a disaster if you’ve written your business plan as part of an attempt to get money to start your new business.

The information you need to include varies somewhat depending on whether your business is a startup or an established business.

For a startup business typically one of the main goals of the business plan is to convince banks, angel investors, or venture capitalists to invest in your business by providing startup capital in the form of debt or equity financing.34 In order to do so you will have to provide a solid case for your business idea which makes your executive summary all the more important. A typical executive summary for a startup company includes the following sections:

• The business opportunity: Describe the need or the opportunity.
• Taking advantage of the opportunity: Explain how will your business will serve the market.
• The target market: Describe the customer base you will be targeting.
• Business model: Describe your products or services and and what will make them appealing to the target market.
• Marketing and sales strategy: Briefly outline your plans for marketing your products/services.
• The competition: Describe your competition and your strategy for getting market share. What is your competitive advantage, e.g. what will you offer to customers that your competitors cannot?
• Financial analysis: Summarize the financial plan including projections for at least the next three years.
• Owners/Staff: Describe the owners and the key staff members and the expertise they bring to the venture.
• Implementation plan: Outline the schedule for taking your business from the planning stage to opening your doors.

For established businesses the executive summary typically includes information about achievements, growth plans, etc.

A typical executive summary outline for an established business includes:

• Mission Statement: Articulates the purpose of your business. In a few sentences describe what your company does and your core values and business philosophy.
• Company Information: Give a brief history of your company – describe your products and/or services, when and where it was formed, who the owners and key employees are, statistics such as the number of employees, business locations, etc.
• Business Highlights: Describe the evolution of the business – how it has grown, including year-over-year revenue increases, profitability, increases in market share, number of customers, etc.
• Financial Summary: If the purpose of updating the business plan is to seek additional financing for expansion, then give a brief financial summary.
• Future goals: Describe your goals for the business. If you are seeking financing explain how additional funding will be used to expand the business or otherwise increase profits.

Automatic text summarization, or just text summarization, is the process of creating a short and coherent version of a longer document. Text summarization is the process of distilling the most important information from a source (or sources) to produce an abridged version for a particular user (or users) and task (or tasks).

We (humans) are generally good at this type of task as it involves first understanding the meaning of the source document and then distilling the meaning and capturing salient details in the new description. As such, the goal of automatically creating summaries of text is to have the resulting summaries as good as those written by humans.

It is not enough to just generate words and phrases that capture the gist of the source document. The summary should be accurate and should read fluently as a new standalone document. Automatic text summarization is the task of producing a concise and fluent summary while preserving key information content and overall meaning.

Given errors resulting from speech recognition and the fact that spoken language is often less formal than written language, the most widely used method for single document text summarization, sentence extraction, cannot be directly applied to speech summarization. However, if systems exploit the additional information that can be derived from the speech signal and dialogue structure, extractive methods can be extended for spoken language and augmented by new methods that focus on extracting particular kinds of information and reformulating it appropriately.

Summarization Categories

There are two types of summarization techniques: extractive and abstractive. Extractive methods function by identifying the important sentences or excerpts from the text and reproducing them verbatim as part of the summary. No new text is generated; only the existing text is used in the summarization process. This differs from abstractive methods, which employ more powerful natural language processing techniques to interpret the text and generate a new summary text.

Basically, there are three fairly independent tasks which all summarizes perform, as listed below. In this article, we will look at different abstractive topic presentation approaches.

Construct an intermediate representation of the input text which expresses the main aspects of the text.

Score the sentences based on the representation.

Select a summary comprising of several sentences.

Topic Words

This method aims to identify words that describe the topic of the input document. There are two ways to compute the importance of a sentence: as

a function of the number of topic signatures it contains, or as the proportion of the topic signatures in the sentence. Both sentence scoring functions relate to the same topic representation; however, they might assign different scores to sentences. The first method may assign higher scores to longer sentences because they have more words. The second approach measures the density of the topic words.

A letter written in response to the complaint of the customer is called an adjustment letter. It is written when a seller or delivery authorities write back to the customer in regard to their complaint. The official in format, it is used to explain what is the nature and urgency of the customer’s complaint and how it can be resolved by the company.

The letter informs the customer whether his/her complaint has been accepted or been rejected, also the refund amount he/she is eligible for and how to obtain it. These letters deal with all kinds of complaints such as defective goods, service is poor, shipment issues, and product undelivered or not delivered on time, etc. These letters are known as adjustment letters because their main purpose is to resolve a conflict between customer and seller.

There are many points to be taken into consideration while writing an adjustment letter.

Positive reply: Sympathize with your client, listen to his/her woes, and maintain a positive tone and attitude towards the client to ensure the satisfaction of the customer.

Organize material: All the previous correspondence between client and seller, his complaint copy, company policies regarding the complaint featured, any other relevant document, etc. should be first obtained and organized by the writer.

Admittance of mistake: If your company is at fault, immediately accept the mistake and proceed to rectify the mistake. The customer demands, if rational, should be completed.

Politeness: Politeness as a virtue is encouraged by all the customer care services. Even when your client is at fault, you need to satisfy him while also maintaining your stance. In this respect, politeness comes in handy. A polite reply goes a long way in promoting the company’s reputation and name.

Diplomacy: When the client is not right, and his demands are not justifiable, then the sellers need to be diplomatic so that even after refusal, your client remains satisfied. Explain the policy of the company and terms in layman language so the customer can easily understand your terms and conditions. Talk politely and don’t refuse bluntly or rudely.

Letter Head: Adjustment letters and claim letters should be officially endorsed by the company such that they should have letterhead on top.

Proofreading: Always proofread the letter, so save your company embarrassment in front of the client. Facts should be checked and correlated with the system properly.

Format

Richard Look

7^th, 1^st Street, Oval

16th January 20XX

Centerville Bicycle Corporation

London

Ref: Complaint dated 16th January 2019

Dear Richard

This is in reference to your complaint dated 16th January 2019. We are very sorry that a broken bicycle had been delivered to your address. We take these things very sincerely and can sympathize with you for the inconvenience caused to you due to us.

In the meantime, we would like to replace your bicycle with a brand-new bicycle of the same brand with no shipping costs to you. Our delivery boy will come and collect the defective product and deliver the brand-new bicycle. Also, we would like to gift you a Rs. 7000 gift card which can be used in any store, for the inconvenience caused to you due to us. We hope that you will continue shopping with us.

Thanking You

Yours sincerely

Joe Mendes

PFA: Rs. 7000 Gift Voucher, it can be used anywhere.

A consumer complaint letter is usually written to an external agency like a Consumer Complaint Forum which redresses grievances of the public. The letter should specify the cause for your disgruntlement, when it occurred, name the organization which you feel is responsible for the same and explain the circumstance or event which has caused you dissatisfaction. It can be irritating to find some problem with the product. While trying to solve a problem, make sure that you discuss it with the representative.

A consumer complaint letter puts your complaint on record with the company, and it helps you preserve legal rights if any. A formal tone must be maintained. The letter must be clear and concise, state exactly what has to be done for repair, don’t be too angry or sarcastic and possible include the copies of the relevant document. Below are the sample letter and template for an effective complaint letter.

Complaint Letter Writing Tips

• Start by mentioning to whom you want to complain, specify reasons for it.
• Furnish details about item/service procured date and expenditure incurred.
• Briefly, explain the problem you are facing concerning the item purchased or service was taken.
• Mention the documents you are enclosing to prove your allegations.
• End by requesting the forum to intervene and grant you justice.

Example

From,

Like Marian

346, Palm Street

Mumbai.

Date: 2^nd January 2021

To,

Lake Jona

Consumer Redressal Forum

Downtown Street

Texas

Dear Mr. Jonna,

I want to complain to the online store, xyz.com for delivering to me a faulty mobile phone. It has been giving me problems from the first day. The order was placed for Sansui 3478 and the amount paid is Rs. 22210 via credit card on the 1st of September. The handset as delivered to me on the 4th September.

I charged the mobile as instructed to me in the manual but it did not turn on. I even called the help desk to help me fix the problem but no progress. Despite assurance by the store for replacement; I have not received any till date. I have written up emails to different officers at Hands-On.Org, but there was no response. I am enclosing payment proof, warranty-card and copies of my communiqués with the organization.

I request your forum to intervene and get me justice at the earliest by instructing them to replace my handset immediately.

Yours sincerely,

Like Marian

It is a letter written to enquiry the information related to something. It can be written if a person wants to buy an item or wants to go on a trip, etc. The objective of the Enquiry Letter is to make a request to the recipient. In other words, it is written to get the response from the recipient with the action that satisfies the enquiry. The action benefits either the sender or the recipient and sometimes both the parties.

The scope of the letter must include enough information to help the recipient to decide the best response. The sender must mention what is inquiring and which type of favor he/she wants from the recipient in response to the request.

Enquiry Letter Writing Tips

• It should be written like a formal letter. It must include the sender’s contact details, address or email address at the beginning of the letter.
• It must contain all the aspects of the enquiring item.
• It should contain the date and address of the receiver.
• Add the subject of the letter precisely to give some idea of what will be discussed in the letter.
• Make sure to add a salutation at the start and your signature, name, and designation at the end of the letter.
• It should be written concisely and clearly.
• Mention the reason and enquiry details.

Format

Street address

City, State ZIP code

Phone number

Date

Individual’s name

Job title

Name of organization

Street address

City, State ZIP code

Dear Mr./Ms. ________________________________:

I am writing to ask you to consider an addition to your marketing team. Your organization has been in the news as a leader in the industry. I am an innovator of new ideas, an excellent communicator with buyers, and have a demonstrated history of marketing success. I believe I would be a good fit in your organization.

Currently, I market computer products for a major supplier using television, radio and news advertising. I have a reputation for seeing every project through to success.

Enclosed is my resume for your review and consideration. EFTG Industries has a reputation for excellence. I would like to use my talents to market your quality line of technical products. I will call you to further discuss your needs and how I could benefit your company. If you prefer, you may reach me in the evenings at (555) 555-5555.

Thank you for your time. I look forward to meeting you.

Sincerely,

(Your Signature in blue or black ink)

Your typed name

Enclosure

Letters of Complaints

A complaint letter is a letter written to concerned authorities if we are not satisfied with the service provided by them. These letters are usually formal in nature. Sometimes when we order a product and it is received defective then we write the letter to the related person or company, complaining about the product. Hence, appropriate action will be taken by the concerned department for the complaint raised.

There could be many reasons for writing complaint letters such as for wrongdoing, grievance, offence, resentment arising out of product or service, etc. It is the right of every citizen of the country to raise the complaint for unfair things happening to them and get a productive result.

The tips to write the format of complaint letter are:

• Write the letter in a polite manner. Though you have a complaint regarding something and you are frustrated, but if you write the letter politely then it gives a good impression to the concerned person and chances of getting a resolution are also good.
• Always introduce yourself first at the left of the letter
• Never forget to mention the date of writing the letter
• The letter of receiver or recipient should be properly mentioned along with Pincode.
• Mention the purpose of writing a letter in subject line
• Start the letter with a salutation or proper greeting.
• Write the first paragraph by introducing yourself, and then writing the purpose of writing the letter. It should be very loud and clear.
• In the second paragraph give a brief description of the complaint and what problems it is causing to you. Do not deviate from the main topic.
• The third paragraph should include the conclusion part, where you state the resolution for your problem.
• Close your letter by thanking the person for giving time to the letter.
• Check the grammar and spelling mistakes if any.
• You can highlight the important points in the letter, to grab the quick attention of the reader.
• Present the letter in a proper format.

Format of Complaint Letter

The complaint letter is a formal letter written to the concerned authority if you have any problems/ dispute/mistakes/misbehavior or any kind of complaint. The format to write the letter is given below:

Sender’s Address

Date:

Receiver’s Address

Subject: (Mention the reason for complaint)

Salutations (Dear/Mr./Ms.)

Body of the letter:

• Introduction
• Main reason to write the letter
• Conclusion

Closing of letter (Yours sincerely/faithfully)

Signature

Letter of claims

Claim means asking for compensation; a letter of claim is used to ask for compensation due to unsatisfactory work or products delivered by the company.  A claim could be made on getting inappropriate stuff that you contracted, in all these situations or any other situation which falls under this scenario can be a reason of a letter of claim. An organization or a company can claim for the required work that was done properly. A letter of claim is a formal letter with a serious tone; it also could be a persuasive letter as it makes the reader believe that the performance or work done by you were not up to the mark.

Commonly a letter of claim is used as a first step that further leads to a legal process of a claim or a personal injury. Such a letter is also used to inform someone for a breach of a contract, for a wrong work of partially unsatisfactory work or assignment, asking the other person for a letter of adjustment to justify the situation. A letter of claim can also be written in case of copyright infringement. This letter should be true in its nature and its facts. Letter should be specifically to the point about the subject and should avoid all the unnecessary details.

Claimant (a person who asks for a reimbursement) can attach a copy of original agreement with the letter as a proof that what he is claim was mentioned at the time of agreement, as merely mentioning a problem will never be effective and will not pay you back. The reference against which you are claiming should be strong enough, mention your point in a firm way. You should address the recipient by his full name and mention the address properly. Here is a sample of letter of claim is attached with this template for your help and convenience.

Format

M/s. Nana cloth store

House no. 07, Road no. 14 North 302, FUCSON AZ 85705, Brazil

Ref. ……………………………                                           November 27, 2019

Manager

Michel enterprise

(Wholesaler of quality fabrics)

20, Kualampur, India

Dear Manager,

On November 07, 2019 we purchased 2000 meters suit cloths. The quality of your shipment does not match with our order specification. Since the use of low quality cloth will damage our business goodwill, we have returned your shipment along with a request for cash refund of 12000$.

We believe that your company has deep concern for its customers. We are also convinced with the earlier dealing of your company.

Refunding the money within the next 10 days will be highly appreciated. We are looking for future business.

Sincerely,

(Mr. Jonson)

Purchase Manager

The Right to Information Act, 2005 does not lay down any prescribed format for RTI Application. It is entirely up to you to identify what you must include in your application. The objective of writing an effective RTI application is simple to enable the public authority to give you the information you seek for. 

The Right to Information Act extends to the whole of India except the state of Jammu and Kashmir. All citizens including Indians living abroad possess the right to seek information. This implies that the person seeking information must be an individual and not a corporation, society or any other public authority. Neither persons of Indian Origin nor foreign nationals can avail the benefits under this Act.

The language of the RTI Application

The application can be written in English, Hindi or any official language of the state in which the department lies. However, the RTI Act makes no provision to demand answers in the language of your choice. So sometimes, one gets troubled when the reply to the application is given in a language they cannot comprehend. For instance, you file an RTI application with the Municipal Corporation, Gandhinagar in Hindi. The PIO replies to your application in Gujarati.

The courts and commissions have laid down in several judgments that information should be given to the Applicant in the language he understands. Therefore, it is advisable to keep two things in mind while choosing the language of your application:

• Always write your application in the language in which you wish to receive a reply. If you want the PIO to reply to you in Hindi, make sure you write your application in Hindi.
• As a precautionary measure, It is always advisable to mention in your application clearly the language in which you seek a reply.

To,

The Central /State Public Information Officer

or Assistant Public Information Officer

(Name of the Office along with the Address)

Sir/Madam,

Sub: Application seeking Information under RTI Act, 2005.

It is requested to provide the following information under the RTI Act, 2005.

(1) Details of information required

(a) Subject matter and details of information required in the form of questions which should be specific.

1. No. 1 – ……
2. No. 2 – …….
3. No. 3 – ……..

(b) Period for which information is sought.

(2) If inspection is being sought, a categorical mention should be made.

(3) If life and liberty is claimed, it should be specified.

(4) In case of schedule II organisations, a specific mention of corruption/human rights violations to be made

(5) Any other relevant point

In case the information is held by or related to another public authority, the application or such part of it as may be appropriate may be transferred to that other public authority under intimation to the undersigned as per Section 6(3) of RTI Act. (It acts as a reminder for the PIO who is required to do it under the Act).

Evidence of payment of Application fee of Rs. 10/- and mode of payment.

(i) A fee of Rs. 10/- has been deposited in cash in the Accounts Office of the Public authority vide Receipt No.________ dated__________; or

(ii) A Postal Order/Bank Draft No. __________ dated _______ is enclosed; or

(iii) Exemption from payment of fees is claimed and evidence of the BPL status (example- Photocopy of BPL Ration Card) is attached.

Signature / Thumb Impression of the applicant

Full name and Postal Address of the Applicant

Contact Phone No. and e-mail (If any)

An “Order” is an expense for the person placing the order and an income for the one getting it. But this is not all. The company that bags the order has to fulfill lot of commitments to ensure that it has a satisfied customer, which can be an individual or another company. Timely delivery of the order, quality of delivery and after sale service are all part and parcel of getting an order.

The quotations are the ‘offer’ made by the seller and the order through a letter is the ‘acceptance’ of the offer. This offer is the link which establishes a legal relation between the seller and the buyer and therefore buyer can purchases and seller can sell goods or services. Simply, a letter of order is an instruction from a buyer to a” seller to supply goods or services.

In broad, sense, an order letter is a letter which carries messages to the seller requesting him to send the specified goods on stated terms and conditions agreed upon previously.

An Order Letter is the one that is written by the person/company placing the request of purchase from another company. This letter comes into action only when a detailed study of the desired product has been done in the market and based on promised service, quality and price of the product, a decision for a purchase has been made.

An Order Letter should be drafted very carefully as it needs to pen down all the terms and conditions of the purchase for the benefit of both involved parties. It should have details such as product specifications, quantities, price agreed upon, delivery date, late delivery clauses, etc. It should be addressed to the person responsible for the execution of the order with a copy to the head of department. Since it is totally an official letter it should be typed.

Do’s and Don’ts of Order Letter

• An Order Letter should be addressed to the person responsible for executing the order
• It should include all the terms and conditions agreed upon by both involved parties
• Since it is purely an official letter it should be typed out
• There is no need to use too many adjectives in the letter since it is purely for an order being placed
• The letter should have all relevant details related to the order, for example, quantity, price and other terms and conditions

Sample Order Letter

Name of the person to whom order is being placed

Name and address of the organization

Name of the person placing the order

Name and address of the organization

Date:

Subject: Order for 100 copies of Mastering Business

Dear Sir or Madam,

As per our discussions on __________ (date of meeting) we are pleased to place an order for 100 copies of Mastering Business book by _________ (writer) for Class VII for the CBSE Board on the following terms and conditions:

1. The cost of each book will be Rs.________ (inclusive of all taxes)
2. Payment terms will be a post-dated cheque for 50% advance with order. This cheque will be cleared on the day of the deliver. The balance payment of 50% 7 days after delivery and after random inspection
3. Delivery will be done within 7 days from the order date
4. Delivery will be done at ________________ (address of organization)
5. If the order is not delivered as per the above terms and conditions, the order stands cancelled

Please find enclosed chequenumber ________ dated ________ for Rs.________ towards advance for the order.

Hoping to have a long business relationship with you.

Best regards,

(Name of signing authority)

Order Confirmation Letter and Order Letter

A letter that acknowledges the receipt of order from buyer is known to be order confirmation letter. It is a letter that tells the buyer (Sender) that the order has not been lost, misplaced or stolen and also indicates that proper steps are being taken to satisfy the buyer, sometimes if there is any delay for shipment according to order placed, the reason is also communicated to buyer through such letter:

Order confirmation letter must express the seller’s pleasure and gratitude must appreciate buyer’s interest in the goods and must be a medium of mentioning the favorable aspects of the goods, terms and other services. Such a draft will create a psychological value upon the goods and services to be shipped.

Acknowledgment through-such letter provides a legal acceptance of all the points mentioned in the order. Hence, the order must be read carefully before accepting and acknowledging it.

Credit Letter

letter of credit is a piece of document that serves as instruction of guaranteed payment from the buyer to the seller. Also known as a documentary credit, a letter of credit is issued by the bank and acts as a promise of timely payment to the seller.

If the buyer supposedly fails to perform his due obligation, then the bank pays the seller on behalf of the buyer who in turn repays the bank. This is a brief summation of the letter of credit process.

Types of Letters of Credit

There are mainly four types of letter of credit examples.

• A revocable letter of credit
• Revolving letter of credit
• A standby letter of credit
• Irrevocable letter of credit

Advantages of letter of credit

• A letter of credit gives the trade partners an ability to transact with unknown partners or in newly established trade It helps in expanding their business quickly into new geographies.
• A letter of credit is safer for the seller or exporter in case the buyer or importer goes bankrupt. Since the creditworthiness of the importer is transferred to the issuing bank, the bank must pay the amount as agreed in the letter of credit. Thus, a letter of credit insulates the exporter from the importer’s business
• A letter of credit is highly Both the trading partners can put in terms and conditions as per their requirements and arrive at a mutual list of clauses. It can also be customised from one transaction to another with the same trading partners.
• In the case of a dispute between the trading partners, a letter of credit accounting allows the exporter to withdraw the fund as agreed upon in the letter of credit and resolve the disputes later in the The beneficiary’s
• Right to the full amount is described in the phrase ‘pay now, litigate later’ by the courts.

Disadvantages:

• A letter of credit adds to the cost of doing Banks charge a fee for providing this service, and it can increase steeply if the parties want to put some additional features
• A letter of credit poses a material fraud risk to the The bank will pay the exporter upon looking at the shipping documents and not the actual quality of goods. Disputes can arise if the quality is different from what was agreed upon.
• A letter of credit life cycle has an expiration date, and therefore the exporter has time limitation within which he will have to deliver the goods by all means. At times, this haste creates a mess.

ANNEX 1 IRREVOCABLE LETTER OF CREDIT

SIGHT DRAFT

LETTER OF CREDIT NO.: __________

DATE OF LETTER OF CREDIT: ______________

DATE OF DRAFT: ______________

TO: (BANK)

(ADDRESS)

(FAX):

ATTENTION: ______________

FOR VALUE RECEIVED

PAY ON DEMAND TO: DEUTSCHE BANK NATIONAL TRUST COMPANY, DBTCA FOR DBNTC AS FSA FOR WCI, INC, USD ____________________________ DOLLARS (USD $____________). THE AMOUNT OF THIS DRAFT DOES NOT EXCEED THE AMOUNT AVAILABLE TO BE DRAWN BY THE BENEFICIARY UNDER THE LETTER OF CREDIT.

WE ACKNOWLEDGE THAT, UPON YOUR HONORING THE DRAWING HEREIN REQUESTED, THE AMOUNT OF THE LETTER OF CREDIT AVAILABLE FOR DRAWING SHALL BE AUTOMATICALLY DECREASED BY AN AMOUNT EQUAL TO THIS DRAWING.

CHARGE TO ACCOUNT OF [APPLICANT].

DRAWN UNDER [NAME OF BANK] LETTER OF CREDIT NO. ___________.

FUNDS TO BE WIRED TO:

ABA ROUTING NUMBER: ______________

RECEIVING BANK: ______________

BENEFICIARY: _________________

ORIGINATING BANK INFORMATION (OBI FIELD):

VERY TRULY YOURS,

BY ______________________________________

NAME:

TITLE:

DATE:

One of the reasons the two terms are interchangeable is because both of these printed products have similar physical characteristics which include:

• Both flyers and leaflets are an unbound, single sheet of printed paper
• Both terms are used to describe a printed sheet which details information of an advertising nature such as events, product sheets, special offers or promotions etc.
• Flyers and Leaflets are both low costs printed items usually printed in higher quantities and distributed free.
• Both are described as “throw away” as the information contained is usually short term and not designed to be kept.

Leaflets

This print product is quite similar to flyers so it’s only natural that most people struggle to tell the difference and some are actually convinced they’re the same thing. While the terms leaflet and flyer are often used interchangeably, there are some minor differences. In general, leaflets tend to be a bit smaller and they are usually supposed to be of the better quality too. Of course, this makes them more expensive as well.

The boundary between flyer and leaflets becomes clear when looking at how they are used. As we mentioned above, the main function of flyers is to hand out as many copies as possible to a broad audience in specific location. To achieve the highest ROI, they need to be cheap. On the other hand, leaflets could be used in the same way, but their superior quality and design make them a more attractive option for targeting a more specific group or promoting a product or service with higher value. As a result, leaflets can be inserted in local newspapers, they can be stored in shops, restaurants and other popular places, or they can be placed in your own corporate offices for potential customers. In short, you could make the case that flyers are for one-time events and promotions, while leaflets are better suited for content and company information that has a longer shelf life.

• A single sheet of paper printed either single or double sided which may be supplied flat or folded. The leaflet should contain marketing or advertising information
• The paper used should be a paper weight such as 130gsm, 150gsm or 170gsm.

Flyers

Flyers, also known as handbills, are one of the most popular print marketing products because they are so cheap to produce and easy to distribute. They are usually flat, rectangular and approximately the size of a adult hand making them perfect to pass out to passersby on the street. However, flyers come in all sizes and formats, ranging from small 2’’ x 3.5’’ papers to large squared flyers. What they have in common though is that they are typically double-sided so that they include more information and visuals. The small exception comes if you want to hang them somewhere, then of course it makes more financial sense to merely print on one side.

In regards to the usage of flyers, we’ve all come across them many times in our daily lives. They’re often handed out on the streets, exhibitions and events, even though many people throw them away instantly. Since you’ll probably only have a few seconds to connect with your potential customers before the paper lands in the next bin, a good flyer needs to stand out visually to be effective. However, that doesn’t always mean you should overinvest in flyer printing. Their main objective is typically to merely inform a customer, so you should try to be cost-effective with paper and ink quality. The great thing about flyers is that they can be leveraged for almost any cause from events, promotions or political campaigns that you’re trying to highlight. Keep in mind that they work best when you are targeting a small region, since flyers allow you to get your message out to a large number of people within a physical location at a low price point.

• A single unfolded sheet of paper printed either single or double sided, containing any information which is advertising in nature.
• The paper used should be a board weight for example 300gsm or 350gsm