Question

Apply the basic economic concepts to an organization of your choice. This organization can be one that you are interested in or familiar with, make sure to include the following concepts:

• Product versus resources
• Each of the four types of resources

• Resource Groups or Categories:
  • Human resources (human capital or labor)
  • Physical capital (capital)
  • Natural resources (land)
  • Entrepreneurship

Answer 1

Answer:

Shri Mahila Griha Udyog Lijjat Papad

Shri Mahila Griha Udyog Lijjat Papad, popularly known as Lijjat, is an Indian women's cooperative involved in manufacturing of numerous fast-moving consumer goods. The organisation's main objective is empowerment of women by providing them employment opportunities. It is founded in 15 March 1959, Girgaon, Mumbai. The type of business is Worker cooperative.

Land:

Lijjat papad has the production unit which prepares raw material for rolling papad. In Lijjat papad, the production is done by the women at their home only. Every morning the raw-material is distributed and collected by them and papad is rolled.in the next day rolled papad is handed to the distributor and again raw material is given.

Labor:

In Lijjat papad entire industry is run by the women only. Mumbai has 12,000 members, the rest of Maharashtra has 22,000, and Gujarat has between 5,000 and 7,000 members.

Capital:

There is no need to raise capital from outside financial institution as it is developed as financial sustainable model. It is Started with a modest loan of Rs 80, the cooperative and now has annual sales exceeding Rs 301 crore (Rs 3.1 billion).

Entrepreneur:

The major founder of the Lijjat papad is a team of seven members namely Jaswantiben Jamnadas Popat, Parvativen Ramdas Thodani, Ujamben Narandas Kundalia, Banuben N. Tanna, Laguben Amritlar Gokani, Jayaben V. Vithalani and One more lady whose name is not known. The management is done by a committee of 21 members. There are also Sanchalikas, or supervisors, for each centre to look after the everyday matters of a centre. But the work culture of the organization is such that each and every fellow can take any initiative or any decision.