REVIVAL AND SUSTAINABILITY STRATEGIES FOR ARUDHA HANDICRAFT – A CASE STUDY

Author Name: 1. M. SAPTARSHI, 2. AMULYA MANOHAR

Volume/Issue: 01/11

Country: India

DOI NO.: 08.2020-25662434 DOI Link: http://www.doi-ds.org/doilink/05.2021-76197862/UIJIR

Affiliation:

¹K.L. E’s Institute of Management Studies & Research BVB Campus, Vidyanagar, Hubli, Karnataka,India

²MBA Student, K.L. E’s Institute of Management Studies & Research BVB Campus, Vidyanagar, Hubli, Karnataka, India

ABSTRACT

To be successful and sustainable in business, both profitability and growth are important and necessary for a company to survive. The study attempts to show how sales and profit plays a pivotal role in any organization. Once the sales are done it does not stop there. It is important to deliver the product on time. It is also important to communicate on a regular basis with the customer after the delivery of the product. Service also plays an indispensable role. Ignoring the interested customers may also lead to a loss for a business. ‘‘Organizations are expected to fulfil certain responsibilities, just as citizens are; these responsibilities can be classified into four; namely: economic, legal, ethical, and philanthropic’’ (Carroll, 1998). Being a non-profit organization, it is crucial to protect the capital that is invested. It is necessary to determine and focus on profitability at the beginning, of the company. Without adequate capital or the financial resources used to sustain and run a company, business failure is imminent. Profit can be seen as an essential component of a successful and valuable business. To achieve the initial profitability, it is essential to concentrate on sales and growth of market. Growth is crucial to long-term survival. Identifying growth opportunities should become the next important item on any company’s goal list after a company moves beyond the start-up phase. In this firm growth is measured by looking at how customers are treated.

Key words: Sales, Profit Margin, Customer Relationship, Non-profit Organization.