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Job Analysis, Job Description, Job Specification

A job is a collection of tasks, duties and responsibilities necessary to be performed to achieve organizational objectives. Therefore, Job Analysis may be defined as a systematic investigation of tasks, duties, responsibilities necessary to do a job. Task – Identifiable work for a specific action Duties – Sequence of tasks to be performed Responsibilities – Obligation to perform tasks and duties   [...]

Securities and exchange board of India – SEBI

The Securities and exchange board of India – SEBI was constituted on 12th April, 1988 as a non-statutory body through a resolution passed by the Government of India for dealing with all matters relating to development and regulation of securities market, protect the interests of investors and advice government on all these matters. It was given statutory powers on 30th [...]

Business plan & Preparation of a Business Plan – Entrepreneurship

Business Plan   A Business Plan is a blueprint of the step by step procedure that would be followed in order to convert a business idea into a successful business venture. It involves the following tasks – • Identifying business opportunities and an innovative idea • Researching the external environment for opportunities and threats • Identifying internal strengths and weaknesses • [...]

Working Capital Requirement

The Working Capital Requirement of a business is the sum of current assets or the amount of funds necessary to cover the cost of operating expenses of the business. The two main components of working capital are current assets and current liabilities. The excess of current assets over current liabilities is known as working capital. Working Capital = Current Assets [...]

Types of Lease – Leasing

There are various types of lease on the basis of: The extent to which the risks and rewards are transferred The number and nature of parties to the transaction The domicile of the equipment manufacturer Types of Lease: On the basis of extent to which the risks and rewards are transferred there may be two types of lease: (i) Financial Lease or [...]

Internet, Intranet & Extranet

What is Internet ? Internet is a global system of interconnected computer networks that use standard internet protocol suite to kink several devices worldwide. It is an international network of networks, linked by optical, wireless and electronic networking technologies which consists of business, public, educational and government networks. It carries an extensive range of information, resources and services. It utilises [...]

Methods of Data Collection- Primary and Secondary Data

Methods of Data Collection- Primary and Secondary Data   There are two types of data Primary Data and Secondary Data → 1.Primary Data → Raw data or primary data is a term for data collected at source. This type of information is obtained directly from first hand sources by means of surveys, observations and experimentation and not subjected to any processing [...]

Managing Service Quality – Marketing of Services

Quality is fitness for use, the extent to which a service successfully serves the purpose at user. Service Quality refers to the difference between customer expectations and service provider`s actual performance.   FACTORS AFFECTING SERVICE QUALITY Access – Ease and approachability of service Aesthetics – The extent to which service package components are pleasing to the customer Attentiveness/helpfulness of staff/service [...]

BCG Matrix – Boston consultancy group growth share Matrix

BCG Matrix Boston consultancy group growth share Matrix commonly known as BCG Matrix is a famous portfolio analysis technique developed by Boston consultancy group in the 1970`s. It was developed for managing portfolio of different business units. The BCG Matrix  shows a relationship between products that are generating cash and products that are eating cash. Large companies who want to [...]

E commerce Models – B2B, B2C, C2C & its Types

E Commerce Models can be broadly categorised into the following three Models: E-commerce Models Example B2B – Business to Business Oracle, Alibaba, Qualcomm, Honeywell B2C – Business to Consumer Intel, Dell, Snapdeal, Amazon C2C – Consumer to Consumer OLX, Quikr, Ebay   A typical E Commerce Business Model  The following E commerce business Model shows the step by step process [...]

Liberalization – Need and Measures for Liberalization

Liberalization Liberalization of the economy means to free it from direct or physical controls imposed by the government. It refers to the removal or reduction of restrictions or barriers on the free exchange of goods between nations. It is the relaxation of existing or previous Government restrictions usually in areas of social, political or economic policy which results in greater participation of [...]

Principles of Management – Introduction, Nature, Process, Importance

“Management is the art of getting things done through people in formally organized groups” – Koontz Management refers to a set of activities (planning, organising, decision making, controlling etc.) directed towards an organisation’s resources (human, financial, physical and informational) with the aim of achieving organisation’s goals in an efficient and effective manner. According to Henry Fayol – “To manage is to [...]

Electronic Data Interchange EDI – Components,Applications, Advantages

Electronic Data Interchange EDI – is the exchange of business documents between any two trading partners in a standard or structured, machine readable form. EDI is used to electronically transfer documents such as purchase orders, invoice, shipping bills, and communicate with one another.  A Specified format is set by both the parties to facilitate transmission of information. Traders use Electronic [...]

Machine Language, Assembly and High level computer Language

Machine Language  Machine Language is the language written as strings of binary 1`s and 0`s. It is the only language which a computer understands without using a translation program. A machine language instruction has two parts. The first part is the operation code which tells the computer what function to perform and the second part is the operand which tells the [...]

Indian Financial System Introduction

Introduction to Indian Financial System – The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments. It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties. The [...]

ETOP-Environmental Threat and Opportunity Profile

ETOP analysis- Environment threat and opportunity profile – It is a technique to structure the environment. It was developed by glueck. The preparation of ETOP involves dividing the environment into different sectors and then analyzing the impact of each sector on the organization. A comprehensive ETOP requires sub dividing each environmental sector into subsectors and then the impact of each [...]

SWOT Analysis of a Business

SWOT analysis –   It was developed in 1960`s at Stanford research institute. SWOT Analysis is a strategic management technique to understand the internal and external environment of an organization in terms of its strengths, weaknesses, opportunities and threats. S = Strength          W = Weakness        O = Opportunity         T = Threat There are four sequential steps of conducting a [...]

Environmental Appraisal/Environmental Scanning

Environment is anything and everything surrounding us. It consists of the living and nonliving things around us.   Characteristics of environment It is complex – It consists of many interrelated factors It is dynamic – Due to its shape and character It is multifaceted – The environment developed is perceived differently by different people It has a far reaching compact [...]

MS Word, MS PowerPoint, MS Excel – Computer Aplications

MS Word Microsoft Word is a widely used commercial word processor designed by Microsoft. It is a paid software that helps in preparing, editing, storing and printing documents quickly and with accuracy. MS Word is a part of the Microsoft Office suite, a productivity software and can also be purchased as a stand-alone product. It was initially launched in 1983 [...]

Advertising Appeals – Rational Appeal,Emotional Appeal, Teaser Advertising

Advertising Appeals   An Advertising Appeal refers to the approach used to attract the attention of customers and/or to influence their feelings towards a product or service. An appeal is the central idea of an advertisement. It can be a plea, request or anything arising human interest. Advertising appeal can be categorised into Informational/Rational Appeal and Emotional Appeal. Informational / [...]

Working Capital Requirements of a Project

It is essential to estimate the working capital requirements of a project to ensure smooth project implementation. In India Working capital finance for projects is provided according to the lending norms of the tandon committee.    The working capital requirements of a project consists of – Raw materials and Components Stock of Work in Progress Stock of Finished Goods Debtors [...]

International Business – Introduction to International Business

International Business International Business refers to the global business where goods and services are exchanged between countries. It involves transfer of goods, services, information, resources, capital etc. International business comprises of all commercial transactions that take place between two or more countries beyond their political boundaries. These transactions may take place between private companies or governments of different countries. According [...]

Long-term Sources of Finance in Financial Management

Long term Sources of Finance Long-term Financing involves long-term debts and financial obligations on a business which last for a period of more than a year, usually 5 to 10 years.  Features of Long-term Sources of Finance – It involves financing for fixed capital required for investment in fixed Assets It is obtained from Capital market Longterm sources of finance have a [...]

Cultural and Social Factors in Consumer Behaviour

The Various Cultural and Social Factors that affect the decision making process for a consumer are: Culture Sub-culture Social Class Reference Group  Opinion Leaders  Family (1) Culture refers to the way of living of a group of people. It includes knowledge, belief, traditions, morals, values, customs and other such habits that are acquired by humans as members of a group. [...]

Types of Cost / Classification of Costs

What is Cost? It refers to the monetary expenditure which a firm has to incur in order to purchase or hire the factors of production. It is the expense of purchasing or hiring factor services for production and other business activities. Classification of Cost / Types of Cost There are various types of cost: On the basis of Nature of [...]

Financial Services – Features, Types, Utility & Significance

Financial Services may be simply defined as services offered by financial and banking institutions like loan, insurance, etc. Financial Services are concerned with the design and delivery of financial instruments and advisory services to individuals and businesses within the area of banking and related institutions, personal financial planning, investment, real assets, insurance etc. It involves provision of a wide variety [...]

Promissory Note and Bill of Exchange – Meaning and Difference

Promissory Note and Bill of Exchange A Promissory note and Bill of Exchange are two negotiable instruments recognised under the Negotiable Instruments Act, 1881. According to section 4 of the Indian contract Act “A promissory note is an instrument in writing ( not being a bank note or a currency note) containing an unconditional undertaking, signed by the maker to [...]

M commerce – Meaning, Applications and Advantages

M Commerce can be defined as any electronic commerce activity conducted over a wireless network through mobile devices. It includes activities such as buying and selling of goods, provision of services and information, online transactions etc. Wireless networks like GSM, CDMA, TDMA, GPRS and UMTS enables a user of a mobile device to access a variety of information stored on [...]

E-commerce – Features, Drivers, Factors, Issues, Applications

E-commerce is the use of electronic communication and digital information processing technology in business transactions to create, transform and redefine relationships for value creation between or among organisations and individuals. It simply refers to the buying and selling of products, services and information via computer networks including internet. E-commerce is concerned with system and business processes that support – creation [...]

Human Resource Planning

According to Coleman, “Human Resource Planning is the process of determining manpower requirements of an organization and the means for meeting those requirements in order to carry out the integrated plan of the organization” According to Stainer, “Human Resource Planning is the strategy for acquisition, movement and preservation of human resources in an organization” It is basically the process of [...]

Organizational buying process / Decision making process

Organizational buying process refers to the process through which industrial buyers make a purchase decision. Every organization has to purchase goods and services for running its business operations and therefore it has to go through a complex problem solving and decision making process. The behaviour that the industrial buyers exhibit while making a purchase decision, is known as Organizational buying [...]

Capital Budgeting & Various techniques of Capital Budgeting

According to G.C. Lyrich “Capital budgeting is concerned with the allocation of firm`s financial resources among the available opportunities.  The consideration of investment opportunities involves the comparison of the expected future streams of earnings from a project with the immediate and subsequent streams of earnings from a project, with the immediate and subsequent streams of expenditure.”  It is simply long [...]

Transfer & Employee Separations in HRM

Transfer – It can simply be defined as “a change in job assignment of an employee.” It involves movement of employee from one job to another within an organization while being in the same level of hierarchy, requiring similar skills, involving same level of authority and responsibility and similar pay.   Types of Transfer – Production Transfer – Movement of employees [...]

Cost of Production & Estimates of Sales and Production

Cost of Production   Cost of production refers to all costs involved in acquiring goods and services required as input for producing a product. The four major components of cost of production are – ♦ Material Cost  ♦ Labour Cost  ♦ Cost of Utilities ♦ Factory Overhead Cost (i) Material cost – It includes cost of raw material, chemicals, components, [...]

Research Problem – Meaning,Components,Selection,Formulation,Techniques

Research Problem   Research Problem –  It refers to some difficulty which a researcher experiences in the context of either theoretical or practical situation and wants to obtain a solution for the same. A research problem can be simply defined as a statement that identifies the problem or situation to be studied. Components of research problem An individual or a [...]

Leasing Process, Advantages and Disadvantages to lessor & Lessee

The important activities of a Leasing Process can be summarized as below:  Leasing process (1) Lease Selection – The leasing process starts when the lessee enters into a leasing contract with the lessor. Lessee approaches the Manufacturers and Suppliers, gathers all details about the required asset (design, specifications, price, installation, warranty, servicing etc.) and then takes a decision on the required [...]

Consumer behaviour – Meaning, Nature, Scope, Elements, Importance

Consumer behaviour can be defined as the decision making process and physical activity involved acquiring, evaluating, using and disposing of goods and services. Consumer behaviour refers to the behaviour that consumer display in searching, purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs. According to Walter – “Consumer behaviour is the process where [...]

Challenges and Issues in HRM (HR Manager)

 The major Challenges that a HR Manager faces in the current scenario are – (1) Globalization – Due to globalization people from different countries, culture, values, lifestyle, work pattern etc. get together in an organization to solve management problems. Employees from different backgrounds are unfamiliar with Laws, practices, work ethics, management style etc. and find it difficult to cope up in [...]

Introduction to Financial Management – Part 2

Go to Part 1 Goals/Objectives of Financial Management – Profit Maximization [Traditional] Shareholders wealth Maximization [Modern] Profit Maximization – It is a traditional and narrow approach which aims at maximization of returns by the firm in terms of monetary resources and increasing the earning per share of the shareholders. Under such approach maximization of profit is the sole objective of [...]

Factoring – Introduction, Functions, Advantages to client & buyer

Factoring is a financial transaction between two parties, client and a factor, in which the client sells its accounts receivable (Money owed to client by a buyer) to the factor to receive money immediately in exchange. Factoring is an agreement in which receivables arising out of a sale of goods/services are sold by a firm (client) to the factor (financial [...]

Multinational Corporations – MNC

Multinational Corporations (MNC) – MNC`s are huge business organizations which extend their business operations beyond the country of its origin. They are multi-product and multi-process enterprises who extend their business activities in various countries through a large network of industries and marketing operations. A MNC can be simply defined as a company which owns or controls production facilities in more [...]

Directors – Appointment, Duties, Rights, Liabilities – Company Law

A director is the member of the Board of Directors. “Director means a director appointed to the board of a company” sec 2(34) According to the companies act states the board of directors in relation to a company refers to a collective body of the directors of the company. Sec 2(10) Meaning of Director   A director is one of [...]

Transaction Security- Security Issues in E commerce & Defensive Measures

In order to successfully manage an e commerce portal it is essential to understand about Transaction security and security issues in e commerce. Transaction Security An online transaction requires a consumer to disclose sensitive information to the vendor in order to make a purchase, placing him-self at significant risk.  Transaction Security is concerned with providing privacy in transactions to the [...]

Organizational Buying Behaviour Introduction

Organizational Buying Behaviour is a complex decision-making and communication process involving selection and procurement of product and services by organizational buyers. Individuals, organizations or government agencies that make a purchase decision regarding raw materials, products and services, components or finished goods are known as organization buyers. Consumers – Purchase products for personal consumption Industrial Buyers – Purchase products on behalf [...]