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Selection : Selection is the process of obtaining and using information about job applicants in order to determine who should be hired for long- or short- term positions. Motivation : Motivation is a process of directing or channeling the behaviors of the employees toward task performance. Induction : Induction is the process of introducing thenew employees with the existing culture andpractices of the new organization. Grievance : An employee'sformal complaint regarding working conditions or failure by management to stick to its contract with the employee. Testing : A test is a standardized object to measure a person s behavior, performance or attitude. Delegation : Sharing or transfer of authority and the associatedresponsibility, from an employer or superior to an employee or subordinate.
Third country Nationals : TCN S are from the country other than where the parent organization head quarters or operations are located. If the American firm employees a manager from written at facilities in India.
usually to cut down its payroll. rewards. Empowerment : Managementpracticeof sharing information. Team building : Philosophy ofjob design in whichemployeesare viewed as members of interdependent teams instead of as individualworkers.andpowerwith employees so that they can takeinitiativeand make decisionsto solve problemsandimproveservice and performance. MBO : The dynamic system which integrades the companies need to achieve its goals for profit and growth with managers need to contribute and develop himself.Management events Conceptual Skills : Conceptual Skills are the skills managers must have to think and to conceptualize about abstract and complex situations. Retrenchment : Forced lay-off of employees by a firm. Cross cultural training : The term "cross cultural training" refers to a variety of different training courses. Job enrichment : Job Enrichment is the addition to a job of tasks that increase the amount of employee control or responsibility. Pre-depaturetraining : It means the departure of any person from India with a view to taking up any employment in any country or place outside India. Fasters . Each in essence aims to develop awareness between people where a common cultural framework does not exist.
Mentoring : Employeetrainingsystemunder which asenior or more experienced individual (the mentor) is assigned to act as an advisor. and feedback on. Pillars of Organisationaldevelopment : Organisationdiagonisis Action research Intervention Edudication : The process of examining the facts in a disagreement and rendering a decision. The mentor isresponsible for providing support to. Fasters . or guide to a junioror trainee. and safety record.Management events Merit rating : System of ratingemployees on the basis of factors such as absenteeism. counselor. length of service. adaptability. attitude. punctuality. health. the individual in his or her charge. something that goes contrary to expectations and results in disadvantage or harm to the person doing or saying it. Boomerages : A statement or course of action that backfires.
Which include :Occasions.Usage. Private label : Brand owned not by a manufacturer or producer but by a retailer or supplier who gets its goods made by a contract manufacturer under its ownlabel. Benefits Sought. Fasters . Example.Management events Marketing Branding : Entire process involved in creating a unique name and image for a product in the consumers' mind. Loyalty. use or know of a product. such as thoseassociatedwith unfairlaborpoliciesor the practices that harm the environment. an accountingprogram that starts with a general ledger to which various modules such as budgeting. inventory control. Behaviouralsegmentation : Behavioural segmentation divides customers into groups based on the way they respond to. Also called private brand. NegitiveDemand : Situation where consumers avoid a product or firm with negative image or connotations. but the desires of a company to sell specific goods or services in the economic market. Augmented Product : Core product to which additional products and services may be added to generate multiplerevenue streams. payroll Marketingmyopia : Marketingmyopia is an advertising strategy that does not focus on the needs and wants of consumers. through advertising campaigns with a consistent theme.
emphasize. a company can hire people to pose as potential buyers to report on strong and weak points experienced in buying the company s and competitors products. Niche Market : Concentrating all marketing efforts on a small but specific and well defined segment of the population. Types of Needs : Drivers of human action which marketers try to identify.Real needs 4. in orderto increase that company's or entity's power in the marketplace. Channel conflicts : Situation when a producer orsupplierbypasses the normal channel of distributionandsells directly to the end user. Here. 1. The process in which several steps in the production and/or distribution of a productor serviceare controlled by a singlecompany or entity. cash cow : A businessorproductwhichgenerates a steady. Secret needs Schedules in marketing research : Initiation phase Planning phase Fasters . Delight needs 5. and satisfy. and around which all promotional efforts are organized. Vertical Integration : Merger of firmsat differentstages of production and/or distribution in the same industry. Stated needs 2. Unstated needs 3. Selling over the internet while maintaining a physical distributionnetwork is an example of channel conflict.Management events Ghost shopping : It is one of the tools of tracking and measuring customer satisfaction by a company. dependableflow of cash.
Market potential and Company potential : Estimated maximum total sales revenue of all suppliers of a product in a market during a certain period. Physical Evidence : Physical Evidence is the element oftheservice mix which allows the consumer again to make judgements on the organisation Balanced scorecard : Managementpractice that attempts to complement drivers of past performancewith the drivers of future performance. and learning.Lack of consistency in the communication process. every aspect of the business must be carefully considered. When using a holistic marketingstrategy. Not seeking clarifications while communicating. development of human and intellectual capital. Company s ability to produce goods. Incomplete sentences. Pull and Push strategy : A marketing strategyemphasizing mass media advertisingas opposed to personal selling. The company must think about how a consumer Fasters .Management events Communication barriers : Unclear messages . such as customer satisfaction. Holistic concept : Marketing strategy which is developed by thinking about the business as a whole. A marketing strategy emphasizing personal selling rather than mass media advertising. Market penetration : A pricing strategyin whicharetailerseeks to achieve large revenues by setting low prices and selling a high unit volume. Not understanding the receiver.
Secondly. and everything else. to obtain an adequate supply of capital for the needs of the business. Fasters . So we can say business finance is mainly developed around three major objectives. The methods of production were simple. to conserve and increase the capital through better management. to make profit from the use of funds which is an overall objectives of a business enterprise. finance was not of much importance.Business finance is defined as that business activity which is concerned with the acquisition and conservation of capital funds in meeting the financial needs and overall objectives of business enterprise. Before industrial revolution. Business finance has been defined as those activities which have to do with the provision and management of funds for the satisfactory conduct of a business. Firstly. . For example. its advertising materials. Production in those days was. Labour at that time was more important than capital and finance did not pose any problem.Management events will interact with its product. It flows in mostly from scale of goods and services. Importance of Finance Finance is the life blood of business. therefore labour intensive. the artisan used to work in open small hut. its website. It flows out for meeting various types of expenditure. Thirdly. . The activating element in any business which may be on industrial or commercial undertaking is the finance. He had simple tools mostly made by himself.
The most common type is an interest rate swap.Management events Finance Users of accounts : It is easy to assume that the only users of accounting information are shareholders -since it is a requirement of company law that shareholders must receive periodic accounting statements. using existing assets as collateral in order to acquire new assets. Analysts Public at large. company. Fundamental account equation : Assets = Liabilities + Equity Equity = Assets .Liabilities 4 branches of account process: Financial Accounting Management Accounting Tax Accounting Fund Accounting Cost accounting Swap : An exchange of streams of payments over time according to specified terms. However. Investors . in which one party agrees to pay a fixed interestrate in return for receivingaadjustable rate from another party. Government. or other entity. Creditors. Employees. Bridge financing is usually short-term.Lenders. Fasters . Debtors. in reality there are many users of accounts. Bridge Financing : Financing extended to a person.
More generally. usually the company'smanagement. anything of very high quality. Liquid funds invest with minimal risk. Liquid Fund : Liquid funds can be used as an alternative to short-term fix deposits. national company with a solid record of stableearnings and/or dividendgrowth and a reputation for highquality management and/or products. Gilts originated in Britain. Blue chip Stock : Stock of a large.Management events Proxy: A written authorization given by a shareholder for someone else. Gilt Fund : A mutual fund that invests in several different types of medium and long-term government securities in addition to top quality corporate debt. Mid cap company : $1 billion to $5 billion capitalization. Types of EPS : There are five types of EPS and define them in the context of the type of "earnings" being used. Reported EPS Ongoing EPS Pro Forma EPS Headline EPS Cash EPS Fasters . to cast his/her vote at a shareholder meeting or at another time.
Hedging : An investment made in order to reduce the risk of adverse pricemovements in a security. opposite of budget surplus. EBITDA : EBITDA or "earnings before interest taxes depreciation and amortization" is a commonly used measure of cash flow.also called deficit or deficit spending. Accounts receivable and accounts payable are the most commonly used control accounts. Drawings : Monies withdrawn by the owner of a sole proprietorship or the partners of a partnershipfirm from the business. Posting : The process of transferring entries from a journal of originalentry to a ledgerbook. Deficit : The amount by which a government. also calledbudget deficit. by taking an offsetting position in a related security. or individual's spending exceeds its income over a particular period of time. company. EBITDA can be calculated "top down" by adding back DDA or depreciation and amortization deducted as sales costs to operating income before interest and taxes.Management events Control account : General ledgeraccount whose balance reflects the total of balances of related subsidiary ledgeraccounts. Fasters . such as an option or a short sale. Minorities Interest : A significant but non-controlling ownership of less than 50% of a company's voting shares by either an investor or another company. and their balances serve as a crosscheck (control) of the accuracy of the associatedsubsidiaryrecords.
a subsidiary company is its own entity and pays its own tax. Subsidiary status is formally defined in section 46 of the Corporations Law. Types of Unidentifies Errors in Trial balance : Errors of Commission Errors of Principle Error of Omission Error of Original Entry Compensating Errors Fasters . Subsidiaries :A company having more than half of its stock owned by another company.Management events Holding and Subsidiaries : Holding :A company which does not produce goods or services itself. Unlike a branch. rather its only purpose is owning shares of other companies. (or) A company under the parentage of another company which controls its board.
a company newsletter. and a strong partnership between management and labor unions. hichmay differ within federal guidelines. an employee could go straight to the HR rep they were assigned to. Fasters . the company needs a talented HR department. From my experiences. . To achieve these goals. who are responsible for hiring the people with the knowledge to bring new technology into a company. and bulletin-board postings throughout the plant. the ability to retain developed talent. their rivals try to catch up by adopting and improving on the new technologies. and laying out the implications for job security and working conditions. and civil rights act) as well as follow the practices. Whenever a question arose. A large part of this growth is the HumanResources department of these companies. the company is doomed for failure. When new technological developments givesome organizations a competitive advantage. The backbone of any successful company is the HR department. a flexible and innovative management. And I found that to be a very valuable asset.Management events Importance of HRM HRM is the legalliasonbetween the organization and theemployees. flexible and committed work force. To be successful in the automotive market. instead of asking middle-management. it seemed like the HR reps knew everything there was to know about the company and how it is run. these companies needs a highly skilled. and without a talented group of people to hire. culture. the HR department was every employee's main connection between the production floor and the upper management. The HR department kept us informedvia bi-weekly meetings. Corporations are always searching for better ways to produce goods and services. that the employer authorizes. HR managers have to build up commitment and loyalty among the workforce by keeping them up to date about company plans. and inform employees. From the interview process to my exit interview at the end of the summer. Besides hiring the right people to manage and perform specific jobs.they are to uphold the employment and safety laws (osha.
They understand that if there are functions close to customers its ether Sales or Marketing.Management events Importance of Marketing From a very small fish to becoming the big one and then the biggest among all. To products that are offered by a brand you have "n" number of more substitutes and consumers get to know which is the better substitute that suites there requirements . Sales become a direct interface among customs and products offered by companies.so now companies have CMOs (Chief Marketing Officer) along with CFOs and CEOs. Trust me this is the only major differentiator between why your 1% more is able to get you more loyal and more number of customers. This is how few brands have changed with time eg: Levis Microsoft and many other "The Big Fish" The financial success of such brands have been depending on combined efforts of their financial strategies and their marketing efforts. The time has changed. and marketing is an indirect function between customer and the company. One thing that's been common among all there brands is a high degree of Brand loyalty. If you are offering then 1 % more that what I do why should they pay me rather than paying you. If a marketing team has worked hard on understanding the consumer needs they need to make sure their customers get a feel This brand knows what I want . That s the point. Customers / consumers are smart and they understand what makes your product different form mine. Companies now understand that marketing plays an important roll in their overall success . So it is important to make sure that Fasters . And secondly it s important to communicate the product offerings to the end user. They have managed to capture the share of heart and in turn share of customer s wallet. But what makes marketing so big? Why is it important? If you have a great product you are bound to succeed then why do u need to spend on marketing / advertising? The answer to these questions lies deep within the customer s brain.
how the marketing function plays a great role in organizations success.CFO should communicate importance of marketing in an organization. The marketing managers need to answer following questions: y y y y y How do we find the right market segment? How do we differentiate? How can we compete with low cost business models? How do we build a better brand? How do we reduce cost of customer acquisition? A successful Marketing team can carefully analyze customer needs and carefully monitor there competitors marketing moves. Remember a short term sales driven view does not work in business world today. Marketing today has become a emotional research which helps understanding customer and consumers psychology so that products are developed based on these understanding. the CEO. the price to be offered to customers and what to spend on advertisements.Marketing managers need to understand the customer needs and they need to make their major decisions such as the features to include. The C-level managers. Fasters . We need to understand the minds of customers.Management events marketing efforts are more on understanding the changing needs on today s customer. It s rightly said customer is KING .