Ticket 1 Enterprises (firms) field of activity and its main characteristics


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3.Innovative activity-
Innovative activity is activity, directed on the use and commercialization of results of scientific research-and-developments, placing to the market of new commodities and services. The object of innovative activity is an innovation. An innovation (innovation) is end-point of innovative activity, a new or improved product shown out to the market, new or improved technological process which is used in practical activity; new going social services. It follows to distinguish terms "innovation" and "novation". A novation is a product of intellectual activity of people, the result of the fundamental or experimental researches in any sphere of human activity, directed on the increase of efficiency of implementation of works. Novations are: opening, invention and processes, methods, standards, results of marketings researches, are improved. Making of new product can carry out other enterprises also, getting a license on it. There is diffusion of innovation - process of his expansion for the use in new places, spheres or terms. The wide use of diffusion is carried out in technological innovations.THE BASIC STAGES OF INNOVATIVE PROCESS ON AN ENTERPRISE ARE: ⇒ a generation of idea is for satisfaction of public necessities; ⇒ development of project and estimate market attractiveness; ⇒ an analysis terms of project realization and necessary charges, comparison, is with financial possibilities; ⇒ designer and technological development of new commodity; ⇒ commercial realization of innovation.__Life cycle of innovations It is a period from the origin of idea, creation of innovations and their practical use to the moment of their removal from a production.


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1.Remuneration of the personnel of the enterprise-
Remuneration is the total compensation paid to the employees for their services. In addition to the basic salary, it includes benefits like commissions, bonuses, overtime pays, and other financial compensation paid by the employers to their personnel. Perks may or may not be a component of the employees' compensation.Reward is one of the important elements to motivate employees for contributing their best effort to generate innovation ideas that lead to better business functionality and further improve company performance both financial and non-financially. Besides employee remuneration, it is necessary for the managers to use modern tools of project managers as the classic approach to management processes based on regulation of current deviations in not sufficient in current time of turbulent changes. The approach has been developed in many areas of life and project attitude to dealing with problems is more desired in enterprises. Companies can set up their own structures for the remuneration of employees as long as these adhere to the government rules and regulations. Some of these are as follows:

  • Working hours can vary from one state to another; however, the national standard is set at a maximum of nine hours per day and 48 hours per week; any additional hours are compensated at double the normal rate.

  • Employees shouldn’t work more than two hours per day as overtime.

  • There is a national minimum wage rate, which is INR 176 per day in 2021; however, some state and local governments may apply their own minimum wage rates based on the skills of the employees and industries.

  • Several workers are eligible for statutory bonuses; employees working in a company that employs at least 20 people and earns less than INR 10,000 per month are entitled to receive bonuses between 8.33% and 20% of their yearly salary.

  • Employees who have worked for at least five years with a company are eligible for a severance pay calculated as 15 days' wages for every year of employment.


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