Category: Management

It was September 27, 2010, when the Brazilian finance minister stated that an “international currency war” has erupted. Three separate but related battles are going on – first, there is the old and serious problem of a more or less inflexible pegging of the Chinese Yuan to the US dollar contributing to the massive Chinese current account surpluses and huge international reserve holdings and correspondingly large and unsustainable deficits elsewhere.Second is the exceptionally loose monetary policy being followed (after the 2008-09 global crisis) by major industrial countries, including the USA, the UK, Japan and, to some extent, the Euro zone. Policy rates in these jurisdictions are at or close to zero and money supply is being boosted through “quantitative easing” (QE), whereby the central banks pump up liquidity by purchasing…

History of international monetary system is lengthy and complex. Here we shall describe only important features in chronological terms:i. Pre-First World War Gold Standard: A Fixed Exchange System. Under the gold standard, countries used gold standard as a medium of exchange and a store of value. ADVERTISEMENTS: During this era the exchange rate was stable. Prior to World War I, a country’s monetary unit was defined in terms of certain weight of gold. Image Source: fouman.comDuring this era London, a financial centre for 90 percent of world trade, dominated the international finance. Sterling was the sole reserve currency, as it was convertible into gold at the Bank of England. Interestingly the Bank of England had only two to three percent of gold backing to the actual money supply.ii. The two…

Suit of civil nature:The question that falls for determination is what is a suit of a civil nature? A suit is of a civil nature if the principal question in the suit relates to the determination of a civil right. Thus if the principal question in the suit is a caste question or a question relating to religious rites or ceremonies, the suit is not of a civil nature. ADVERTISEMENTS: In order to fall within the purview of the term “of a civil nature” the suit must be for the enforcement of rights and obligations of a citizen and not matters which are purely social. The rights vesting in a person by virtue of being a member of a caste or religious community would not be of a civil nature…

Production is the result of combined efforts of the factors of production. These factors may be fixed or variable. A fixed factor is one, whose quantity cannot readily be changed in response to desired changes in output or market conditions.Its quantity remains the same, whether the level of output is more or less or zero. Buildings, land, machinery, plants and top Management are some common examples of fixed factors. A variable factor, on the other hand, is one whose quantity may be changed in response to a change in output.Raw materials, ordinary labour, power, fuel, etc. are examples of variable factors. Such factors are required more, when output is more; less, when output is less and zero, when output is nil. For the sake of analytical simplicity, semi-variable factors are…

Supply refers to various quantities of a commodity which a producer will actually offer for sale at a particular time at various corresponding prices. Supply of commodity depends upon a number of factors.It is difficult to analyse the effect of a simultaneous change in all the factors. While studying the effect of any factor, other factors are assumed to be constant. Some of the important factors which affect the quantity supplied of a commodity in isolation are as follow. 1. Price: It is the most important determinant of supply of a commodity representing gross earnings per unit of the goods sold. The higher the price of the commodity, more of the commodity will be offered for sale on account of rise in its profitability and vice-versa. The direct relationship between…

Here is your speech on “Rape” (2145 Words):Mahatma Gandhi said: “When a woman walks in the streets in the mid night, then only it means that we achieved full independence to our country.” Now the guidelines given Mahatma are ridiculed in our society. To-day, any woman cannot walk in the day light, even accompanying with her father or brother or husband. Day-by-day, the activities of ragging and rape are growing. From time to time, the Legislatures have been bringing new Acts and making amendments to the old laws. image source: media.cathocambrai.com ADVERTISEMENTS: The Supreme Court and the High Courts have been giving newer guidelines and instructions. However, sad to say that all of them become in vain. Sexual offences are enhancing day by day. Their graph, in every police station,…

Communication, although important in all aspects of management, is particularly important in the function of leading. Communication is defined as the transfer of information from the sender to the receiver with information being understood by the receiver. image source: fra.europa.euOrganization is a social system. Communication is the means by which social inputs are fed into social systems. It is also the means by which behaviour is modified, change is affected and information is made productive. ADVERTISEMENTS: Communication is the force for influencing staff direction. Group activity is impossible without communication. 1. Purpose of Communication: In its broadest sense, the purpose of communication is to influence action towards the welfare of the organisation. The assimilation of information and actions in response to it becomes more and more difficult as the size…

The joint family system under the Hindu Law is a patriarchal organization. The head of the joint family is known as Karta (Manager); and the senior-most male member of the family will be the Karta. As a head or manager, he is the representative of the family, and acts for, or, on behalf of the family. Generally, where a family consists of father and his children, father will act as Karta or in the absence of father; next senior-most member will be Karta.However, it is open to the senior member to give up his right of being Karta, in such case, next senior member becomes Karta. But, a woman member is not competent to act as Karta, because a woman cannot be a coparcener. However, a minor may act as…

General Powers of a Karta of Hindu Joint Family are as follows:The powers of Karta in joint family property is not larger than a coparcener in the family nor has the Karta larger right to enjoy tine same than any other coparcener. He does not get any remuneration for the services he renders in family.The followings are the general powers of Karta of a joint Hindu family:— ADVERTISEMENTS: (1) Power over income and expenditure;(2) Power to manage joint family business;(3) Power to contract debt for family purposes;(4) Power to enter into contracts; ADVERTISEMENTS: (5) Power to refer to arbitration;(6) Power to enter into compromise;(7) Power to give discharge;(8) Power to acknowledge debts; ADVERTISEMENTS: (9) Power to represent in suits;(10) Power of alienation of joint family property. Image Source: upload.wikimedia.org (1)…

Legal Provisions of Section 409 of Indian Penal Code, 1860.Criminal breach of trust by public servant, or by banker, merchant or agent:Criminal breach of trust by a public servant, or by a banker, merchant or agent etc. has been made punishable under this section. It says that whoever being in any manner entrusted with either property or dominion over property in his capacity either of a public servant or in the way of his business as a banker, merchant, factor, broker, attorney or agent, commits criminal breach of trust in respect of that property, shall be punished with imprisonment for life, or with simple or rigorous imprisonment for a term extending up to ten years, and shall also be liable to fine. Image Source: newsniranthara.com ADVERTISEMENTS: The accused under this…