Category: Management

The functions of a modern travel agency have widened much after the introduction of air travel. The most important functions of a travel agency are described below: 1. Travel Information: A retail travel agency provides necessary travel information to the general public. The intending tourists come to the office of the travel agent and seek information regarding their proposed visit. ADVERTISEMENTS: The travel agent should be a very knowledgeable man and should supply up to date and concrete information relating to travel.He must have great communication skill and he should be thorough in the art of catching the potential customers. The knowledge of foreign language is a desirable qualification for those working in a travel agency. Image Source : theguytravel.com 2. Preparation of Itineraries: A tourist journey involves preparation of…

Cyclone is a swirling atmospheric disturbance in which strong winds blow in a circle, and rotate in the same direction as rotation of the earth. These comprise spiralling winds that are usually centred in areas that have low atmospheric pressures. At the same time, they are surrounded by high pressure.They usually occur in tropical regions due to high temperature and humidity. Cyclones are referred to as typhoons in the Pacific Ocean, cyclones in the Indian Ocean and hurricanes in America. About 65-75 cyclones arise in the world every year. They are very common in India because of its long coastline. Effects of Cyclones and Hurricanes: i. Tropical cyclones cause heavy rainfall and landslides. ADVERTISEMENTS: ii. They cause a lot of harm to towns and villages, causing severe damage to kuccha…

Landslides are downward and outward movement of a part of a slope that can comprise rocks, sand or debris. Gravitational forces force these down the hills or mountains. This severely affects the towns and villages that lie in the region. Heavy rains, deforestation and mining are all causes of landslides. Effects of Landslides: i. Landslides are very harmful for life and property.ii. They block the roads and lead to problems of communication. They cause disruption of communication. ADVERTISEMENTS: iii. Landslides often block rivers and result in dangers of floods.iv. Landslides affect poultry and agriculture of the region. Image Source: america.aljazeera.comAdditional Information ADVERTISEMENTS: Management and Mitigation of Landslides: i. Soil can be hardened using thermal treatment.ii. Accumulated water should be properly drained.iii. Proper vegetation like crops and forests can bind the…

Let us now examine have can the Managerial Economist best serve the management. He can serve the management best when he recognizes and adher to his responsibilities towards the management. The main responsibilities of a managerial economist are the following: Responsibilities 1. To make reasonable profits on capital employed: He must have strong conviction that profits are essential and his main obligation is to assist the management in earning reasonable profits on capital invested by the firm.He should always help the management to enhance the capacity of the firm to earn profits. If he fails to discharge this responsibility then his academic knowledge, experience, expertise and business skill will be of no use to the firm. Image Source : retoolingcapitalism.com 2. Successful forecasts: It is necessary for the managerial economist…

Free sample essay on Drought and Flood in India. The rainfall in India varies from place to place and year to year. The north-eastern states of Assam, Arunachal Pradesh, Meghalaya, and Nagaland, etc. receive very heavy rainfall.The Indian sub-continent has a distinct geographical and historical identity. Its territories extend 3,214 kilometers between the extremes of the north and the south, and 2,933 kilometers between those of the east and the west. This vast landmass called India has been a playground of the monsoon from times immemorial. Monsoon is the seasonal wind of the Indian Ocean. By the end of the month of May, a low pressure is formed in the coastal plains in the west of India which attracts the monsoon winds and then there are occasional rains. In early…

Important theories of wages in compensation management are mentioned below: Theories of Wages 1. Subsistence Theory: This theory was propounded by David Ricardo. Ricardo states that “The labourers are paid to enable them to subsist and perpetuate the race without increase or diminution”.This theory is also known as “Iron Law of Wages”. According to this theory, if the wages fall below the subsistence level, the number of workers would decrease as many of them would die of hunger, disease, malnutrition. Image Source: ecx.images-amazon.com ADVERTISEMENTS: This would make the wage rates go up as labour will become scarce. However, if the workers are paid more than the subsistence wages, they would marry and procreate. This would increase their number and bring down the rate of wages. 2. Wage Fund Theory: This…

Free sample essay on Scientific and Technological Development in India (Free to read). The modern age is the age of science, technology, knowledge and information. All these are the interrelated and different aspects of the same thing.Explosion of knowledge and information, based on breathtaking advancement in the field of science and technology, has bestowed on man powers enviable even for gods. It has helped man conquer space and time. Now he has unraveled many mysteries of nature and life and is ready to face new challenges and move forward in the realm of the unknown and the undiscovered.In India there has been a long and distinct tradition of scientific research and technological advancement since ancient times. Since independence, we have accelerated our speed and efforts in this field and have…

Main objectives of national wage policy in India are discussed below:One of the objectives of economic planning is the raising of the standard of living of the people. This means that the benefits of planned economic development should be distributed among the different sections of the society. ADVERTISEMENTS: Therefore, in achieving a socialistic pattern of society, the needs for proper rewards to the working class of the countryman never is over emphasised.A national wage policy, thus aims at establishing wages at the highest possible level, which the economic conditions of the country permit and ensuring that the wage earner gets a fair share of the increased prosperity of the country as a whole resulting from the economic development. Image Source: image.slidesharecdn.comThe term “wage policy” here refers to legislation or government…

The principles of industrial discipline to ensure a good disciplinary system are given below: Principles 1. Knowledge of Rules: The employees (both supervisor and the worker) must be informed clearly about what constitutes good behaviour and the rewards that may emanate from it. For this purpose, the organisation should develop a code of discipline in co-operation with the workers.This code should contain in writing the rules, regula­tions and procedures considered necessary to maintain discipline. These must be known to all concerned along with the punishment for their violations. Code of discipline should be published in employee handbook. Image Source: careerminer.infomine.com 2. Prompt Action: All violations and misconducts should be promptly enquired into. When the penalty is imposed immediately after the misconduct, the offender identifies the punishment with the act he…

The different types of bargaining are given below: Types of Bargaining 1. Conjunctive Bargaining: In this type of bargaining, the employers and employees try to maximise their respective gains. Issues like wages, bonus etc. are negotiated under conjunctive bargaining.The principle “my gain is your loss and your gain is my loss” is practiced in conjunctive bargaining. The parties want to yield as little as possible while getting as much as possible from the other party. Conjunctive bargaining is also called distributive bargaining. Image Source: mesuandrews.com 2. Co-operative Bargaining: In co-operative bargaining, both parties realise the importance of surviving in difficult times (like recession) and are willing to negotiate the terms of employment in a flexible way.Labour may accept wage cuts and management may agree to modernise and make additional investment.…