18Oct 2018 by admin

What is the Importance of Coordination in an Organisation? – Explained!

Strategy
Coordination is a primary method of synchronization to avoid interruptions of operations and to ensure unity of action among individuals and groups, which together help to accomplish organizational goals. Needs, significance and importance of coordination are many. Basically, we can cluster such needs in three categories as under: Image Source: cdn.yourarticlelibrary.comi. Division of labour ADVERTISEMENTS: ii. Interdependence of unitsiii. Integration of individual with organizationIn another way, such needs can be understood in the following ways:i. Coordination is important because of growth in size of organization ADVERTISEMENTS: ii. Coordination is important because of growing specializationiii. Finally, it is important due to diversity of human natureHere, however, we have discussed needs, importance and significance of coordination point wise as under:1. Specialization: ADVERTISEMENTS: Principles of division of labour and specialization require segregation of…
Read More
18Oct 2018 by admin

Useful Notes on State Financial Corporation’s (SFCs)

Industry
There are 18 SFCs across the country mandated to serve as Regional Development Banks for promoting industrial growth. These corporations were envisaged to function as Development Financial Institutions (DFIs) mainly for SSIs. Besides term loans for setting up new units, expansion, modernization, etc., of industrial units; they are also mandated to provide equity support wherever needed.The SFCs set up under the State Financial Corporation’s (SFCs) Act, 1951 have made significant contributions in developing industrial sector including the Small Scale Industry (SSI) Sector in India for well over past five decades. Over the years their activities have expanded considerably. However, with the passage of time, several problems connected with the structure, management and resources have confronted the SFCs.As such, their overall financial health has reached a critical state, with many of…
Read More
18Oct 2018 by admin

Section 304A of Indian Penal Code, 1860 – Explained!

Industry
Legal Provisions of Section 304A of Indian Penal Code, 1860.Causing death by negligence:This section punishes causing death by a rash or negligent act. It says that whoever causes the death of any person by doing either any rash act or any negligent act, and such rash or negligent act does not amount to either culpable homicide amounting to murder or culpable homicide not amounting to murder, shall be punished with simple or rigorous imprisonment for a term extending up to two years, or with fine, or with both. Image Source: cdn.shareyouressays.com ADVERTISEMENTS: In the Draft Penal Code a provision dealing with such a matter did exist but somehow the same could not find a place in the Indian Penal Code at the time of its enactment. This section was added…
Read More
18Oct 2018 by admin

Summary of MSMED Act, 2006

Business
The MSMED Act, 2006 Containing Six Chapters Broadly Deals With The Following Aspects: Image Source: blog.theteamw.com Chapter I: This chapter deals with the preliminary aspects like Definition of Act, Date of Commencement, terms like Days of acceptance, Day of deemed acceptance, buyer, enterprise, goods. Chapter II: Deals with the setting up of National Board for Micro, Small & Medium Enterprises. The head office of the board shall be at Delhi. ADVERTISEMENTS: A Minister and Dy. Minister at the Centre, Six Ministers of the State Governments, five Members of the Parliament, one Administrator of Union territory, Secretaries of the Indian Govt., representatives of Industry, Finance, Food Processing, Labour and Planning, Chairman of the Board of Directors of the National Bank; Chairman & MD of SIDBI, Chairman IBA, 20 persons to represent…
Read More
17Oct 2018 by admin

Short Summary of “The Guide” by R.K. Narayan

Management
The Guide is the most popular novel of R.K. Narayan. It was published in 1958, and won the Sahitya Akademy Award for 1960. It has also been filmed and the film has always drawn packed-houses.It recounts the adventures of a railway guide, popularly known as ‘Railway Raju’. As a tourist guide he is widely popular. It is this profession which brings him in contact with Marco and his beautiful wife, Rosie. While the husband is busy with his archaeological studies, Raju seduces his wife and has a good time with her. Ultimately Marco comes to know of her affair with Raju and goes away to Madras leaving Rosie behind. Rosie comes and stays with Raju in his one-room house. His mother tolerates her for some time, but when things become…
Read More
17Oct 2018 by admin

4 Main Causes for the Rapid Growth in the Quantity of Solid Waste

Industry
The main causes for the rapid growth in the quantity of solid waste are: 1. Overpopulation: Due to increasing industrialization and population large quantities of wastes are being generated in different forms such as- solid, liquid, sludge and gases. Each city produces tones of solid wastes daily from households, hospitals, industry offices, market centers etc.Some of these are biodegradable some are non biodegradable and Hazardous waste. Wastes are directly thrown away on the street roads, city garbage collecting places etc. Out of which most of it still remain there, which later pile up and chocks cities drainage lines. Image Source: 3.bp.blogspot.com Urbanization: ADVERTISEMENTS: Due to pressure of urbanization most of the cities are growing fast and sometimes they develop beyond the planned limits. Generally the unplanned areas of the city…
Read More
17Oct 2018 by admin

Useful Notes on the Water Prevention and Control of Pollution Act, 1974

Industry
An Act to provide for the prevention and control of water pollution and the maintaining or restoring of wholesomeness of water for the establishment, with a view to carrying out the purposes aforesaid, of Boards for the prevention and control of water pollution, for conferring on and assigning to such Boards powers and functions relating thereto and for matters connected therewith.This Act came into force on 23 March, 1974. It applies in the first instance to the whole of the States of Assam, Bihar, Gujarat, Haryana, Himachal Pradesh, Jammu and Kashmir, Karnataka, Kerala, Madhya Pradesh, Rajasthan, Tripura and West Bengal and the Union Territories; and it shall apply to such other State which adopts this Act by resolution passed in that behalf under clause (1) of article 252 of the…
Read More
17Oct 2018 by admin

What are the Limitations of Planning in Organisations?

Management
Even though planning is an all-pervasive and a primary function of management, planning is subject to certain limitations. Without proper understanding of such limitations, planning may result into futile exercise. Image Source: stlouis-mo.govWe have listed some limitations of planning, understanding of which may improve the efficiency of planning. 1. Planning Premises May Be Wrong: ADVERTISEMENTS: Planning premises are the basis and framework for decisions. Understanding the planning premises with absolute accuracy is not possible. Hence, there always exists some margin of error, which obviously vitiates the plans. Difficulty in assessing the premises for planning is, therefore, the most important limitation. 2. Rapidity of Change: Every organization operates under certain internal and external environment. Environment cannot always be stable. Extent of change in internal and external environment, therefore, creates a situation…
Read More
17Oct 2018 by admin

Is Management a Profession? – Essay

Management
Corporate form of organization with separation of ownership from management, growing complexities in managing the activities of organization, development of organized body of systematic knowledge of management are essential factors which are responsible for raising management to the status of a distinct profession. A field is normally characterized as profession when the following special features are present in it:(i) Systematic body of knowledge(ii) Need for learning and proper organization ADVERTISEMENTS: (iii) Entry restricted on the basis of examination or education(iv) Dominance of service motive over profit motiveExcept for restricted entry, management qualifies all other tests of a profession. It is now backed by a systematic body of knowledge. A number of management principles have been developed which need proper learning and education. Besides, in a number of countries management institutes,…
Read More
17Oct 2018 by admin

What are the Limitations of Macroeconomics? – Explained!

Industry
Macroeconomic analysis has been gaining strength ever since the publication of J.M. Keynes’ General Theory of Employment Interest and Money.Inductive method has, however, posed the danger of excessive generalization of individual experiences to the system as a whole. Such pitfalls need to be avoided if macroeconomics is to serve as a handmaid of public policy. Let us outline such pitfalls as the limitations of macroeconomics: Image Source: 2.bp.blogspot.com 1. Excessive Generalization: ADVERTISEMENTS: As hinted above, generalization of individual observation to the system as a whole may lead to erratic inferences about the system as a whole. For instance, a loss incurred by one firm in an industry does not necessarily imply losses to all other firms in it. Likewise, hospitality shown by one Indian does not imply that each and…
Read More