In modern days business becomes more complex due to changing factors, such as technological developments, changing needs in society ever increasing population and all these factors as resulted in ever lasting demand towards various consumer products.

Hence, a lot of business establishment are coming up to meet the ever-increasing demand of society. Besides the business concerns in order to keep pace with it its competitors, they have introduced modern techniques/methods in the introduction and marketing of goods and services.

Several competitions, risk and uncertainties in the course of business, add up to the complexities in the running of business. This condition of the business has put them in the state of ‘ Survival of the Fittest’ in the business world.

Every organization is trying to increase efficiency by producing  their commodities at the minimum possible price so as to withstand the stiff competition in the market.