Category: Management

Disaster is a calamity of sudden occurrence, a catastrophe causing injury and death to a large number of people during a short span of time. image source: newsnetwork.mayoclinic.orgDisasters have resulted from one or more primary causes or hazards] such as an earthquake, heavy rainfall, hurricane, chemical accident, drought, or armed conflict. ADVERTISEMENTS: Some hazards e.g. earthquake and hurricane kill and injure many people at the time of impact. Often, however, the greatest toll on humankind is due to secondary effects such as flooding, fires, famine and multitude of refugees.In general, the primary cases of disasters are not preventable. Their secondary effects however are amenable to prevention, or at least mitigation.WHO defines a disaster as any occurrence that causes damage, economic disruption, loss of human life and deterioration of health and…

Legal provisions regarding Disclosure of Identity of Victims of Certain Offences under section 228A of Indian Penal Code, 1860.Disclosure of Identity of Victims of Certain Offences: “(1) Whoever prints or publishes the name or any matter which may make known the identity of any person against whom an offence under Section 376, Section 376-A, Section 376-B, Section 376-C, or Section 376-D is alleged or found to have been committed (hereafter in this Section referred to as the victim) shall be punished with imprisonment of either description for a term which may extend to two years and shall also be liable to fine. Image Source: yag-u.com ADVERTISEMENTS: (2) Nothing in sub-sec. (1) extends to any printing or publication of the name or any matter which may make known the identity of…

Definition: Planting of fruit trees rather at a closer spacing than the recommended one using certain special techniques with the sole objective of obtaining maximum productivity per unit area without sacrificing quality is often referred to as HDP. Image Source: omafra.gov.on.caThe introduction of HDP may well be one of the most important advances in fruit production all over the world. ADVERTISEMENTS: First established in apple orchards in Europe.In India HDP have been successfully demonstrated in banana, pineapple, papaya and more recently mango. Advantages of HDP: 1. Efficient land use2. Reduced labour costs ADVERTISEMENTS: 3. Early cropping and bigger yield for a long time4. Improved fruit quality with efficient harvesting.In India, where large number of fruit crops are grown, there is a need to develop crop-specific strategies for developing HDP with…

Legal provisions regarding Punishment for wrongful confinement under section 342 of Indian Penal Code, 1860.Punishment for wrongful confinement: As per Section 342 of the Indian Penal Code, “Whoever wrongfully confines any person, shall be punished with imprisonment of either description for a term which may extend to one year, or with fine which may extend to one thousand rupees, or with both.” Image Source: videos.revision3.com ADVERTISEMENTS: Earlier, ‘wrongful confinement’ was called ‘false imprisonment’. According to Winfield, it means ‘the infliction of bodily restraint which is not expressly or impliedly authorised by law. However in IPC, ‘false imprisonment, was substituted by ‘wrongful confinement’-Ingredients of Wrongful Confinement The essential elements of Wrongful Confinement are: ADVERTISEMENTS: 1) Wrongful restraint of a person or total restraint or complete deprivation of liberty without lawful justification.2)…

Budgeting has the following limitations which require careful consideration:1. The success and utility of budgeting depends on the cooperation and participation of all members of management. All persons should direct their efforts according to the plan. The top management also should adhere to the budget and provide cooperation. Many a time budgeting has failed because executive management has paid only lip service to its execution. image source: pd.mia.org.my ADVERTISEMENTS: 2. Planning, budgeting or forecasting is not an exact science. It uses approximations and judgement which may not be cent per cent accurate. At best, a budget is an estimate; no one knows precisely what will happen in the future. Budgets need to be revised from time to time for any change in plans, operating conditions, technology, etc.3. A budget is…

The term quality as applied to manufactured products may be defined as that characteristics or combination of characteristics which distinguishes one article from another, or the goods of one manufacturer from those of their competitors, or one grade of product from another when both are turned out by the same factory. image source: verotechsolutions.netQuality is dual: on the one hand it serves to identify the article and on the other, it is equivalent to the degree of perfection. It is not absolute and can only be judged or realized by comparison with some pre-determined standard(s). ADVERTISEMENTS: When such a standard(s) has (have) been specified, then the quality of the product can be described as “better or worse” or “higher or lower” than the established quality specification(s). In other words, quality…

Benefits and advantages of value analysis are as follows:1. It helps to keep management abreast of the latest technology and other developments because value analysis aims at examining new methods and techniques of doing things with a view to reducing the cost and increasing the value of the item.2. It ensures the fullest possible use of resources because it aims at eliminating all unnecessary costs. images source: i.ytimg.com ADVERTISEMENTS: 3. It creates proper atmosphere for increased efficiency because it aims at a continuing search for improvement in efficiency.4. It is a powerful tool for cost reduction because its basic objective is the identification of unnecessary costs in a product or service and efficiently eliminating them without impairing its quality and efficiency.5. It induces the creative ability of the staff because…

A minor child when he has no legal guardian, some nearer relation takes the responsibility of the management of his property and on his application to the court as guardian, if the court appoints him, he becomes the court guardian. Image Source: thompsonfamilyalbum.comHowever, such person, if he does not make application to the court, but manages the property of minor, he is referred to as de facto guardian. He is also referred to as de facto manager of the property, because a de facto guardian of a minor, is neither a legal guardian nor a testamentary guardian and nor a guardian appointed by the court, but he is a person, who himself, has taken over the management of the affairs of the minor, as if he were a natural guardian.…

Every enterprise sets its own goals and people working in the enterprise are in pursuit of these goals. In order to make it possible for people to work effectively towards accomplishing goals, an internal structure or roles or positions must be designed. image source: c14608526.r26.cf2.rackcdn.comThis managerial function is called organising. Thus, organising is a basic process a manager uses to unite the work of different people towards a common objective. Irrespective of the number of people large and small their effective co-operation is possible through organisation. ADVERTISEMENTS: According to Peter F. Drucker, “A good organisation structure does not by itself produce good performance just as a good constitution does not guarantee great Presidents, or good laws of a moral society. But a poor organisation structure makes good performance impossible, no…

During the halcyon days of fixed exchange rates the period between World War II to 1971 when major currencies were pegged to each other, occasional changes in the external values of currencies were made only under extreme circumstances that too through devaluation in neat steps against the dollar Furthermore, indications of likely rate changes were normally available to the market well in advance. image source: oswaldcompanies.comManagement of foreign exchange risk, therefore, was not really one of the crucial inputs of an organisation with international operations in those days. The priorities have, however, changed dramatically in the present era of floating exchange rates, when management of foreign exchange risk has become very important and simultaneously also very complex. ADVERTISEMENTS: External values of currencies are affected by a variety of causes such…