Subj

ect
-6.Or
gani
zat
ionandManagement(
OM)
1.Whati
smanagementor
gani
zat
ion(
Henr
yFay
ol&F.
LBr
ech)
?Cor
efunct
ionofmanagement
?why
managementi
sessent
ial
foranyor
gani
zat
ion?
2.Expl
ainChar
act
eri
sti
csgoodmanagement
?
3.Whati
smanagementbyobj
ect
ive?Di
scusst
hepr
ocessofMBO?St
atet
hebenef
it&weaknessof
MBO?
4.Whati smeantbymanagementbyexpect
ati
on?Di
scussphaseofmanagementbyexpect
ati
on?
Advant
ages
ofmanagementbyexpi
ati
on?
5.Whatispl
anni
ng?Nat
ure& I
mpor
tanceofPl
anni
ng?Di
sti
ngui
sh bet
ween si
ngl
eusepl
an v
s
St
andi
ngpl
an
6.Whatis organi
zati
onalbehav
ior
? Goal
s of or
gani
zat
ion behav
ior
? Fact
orst
hati
nfl
uenci
ng
or
gani
zat
ionalbehav
ior
?
7.Whati
sleader
ship?Leadershi
ptr
ait
s?Al
lmanageri
sleaderbutal
ll
eaderi
snotmanager
-expl
aini
ng?
Whatar
ethethreetypesofski
ll
susedbyl
eader
s?
8.Whatismoti
vat
ion?Whatar et
heprimar
y&secondar
yneeds?Di
scusstherel
ati
onshi
pbet
ween
moti
vat
ion&j
obsatisf
act
ion?Towhatext
end&whymoneyi
saneff
ecti
vemoti
vati
on?
9.Def
ine Concept
,pri
ncipl
e and t
heor
y?Dist
ingui
sh bet
ween sci
ence ofmanagement& ar
tof
management?Pri
nci
pleofmanagementbyHenryFay
ol?
10.Whati
sgr
iev
ance?Howoccur
renceofgr
iev
ancecanbepr
event
ed?Howgr
iev
ancescanbehandl
ed?
11.Di
sti
ngui
shbet
weenf
ormal
&inf
ormal
organi
zat
ion?Ent
repr
eneur&Ent
repr
eneur
?
12.Whatismeantbyor gani
zat
ionchange?Var
ioust
echni
quet
oini
ti
ati
ngchanges?Whatar
ethe
r
esi
stancet
ochange?
13.Whati
sagentbanki
ng?St
atet
hemer
it
s&demer
it
sofagentbanki
ng?
14.Whatdoy
oumeanbyst
rat
egy
?St
rat
egi
cpl
anni
ng?Ty
pesofst
rat
egi
espl
anni
ng?
15.Whati
smeantbyj
obev
aluat
ion?Whati
sthet
ool
suset
ojobev
aluat
ionofmanagement
?

Shor
tNot
e:
1.Managementbysci
ence? 8.Informat ionTechnol ogy
9.Interbr anchr econcili
ati
on
2.Managementbyobj
ect
ive?
10.Real Ti
meI nf
or mation
3.Managementbyexpect
ati
on? 11.OrganizationalCulture
12.Objecti
v esVsGoal
4.St
rat
egi
cpl
anni
ng? 13.Out-sourcing
5.E-
commer
ce&M-
commer
ce, 14.Managi ngconf li
ct
15.Jobanal ysis
6.Jobdescr
ipt
ion, 16.Communi cationprocess
7.Mobi
l
ebanki
ng,

1.ManagementSci
ence(
Nov
’10)
:
ManagementbySci
enceisconcer
nedwit
hdev el
opingandappl
yi
ngmodel
sandconcept
sthathel
pto
i
ll
uminat
emanagementi
ssuesandsol
vemanageri
alprobl
ems.
Themodelsusedcanoftenberepr
esent
edmat
hemat
ical
l
y,butsomet
imescomput
er-
based,v
isualor
ver
bal
repr
esent
ati
onsar
eused.
Ther angeofproblemsandi ssuest owhichmanagementsci encehascontri
butedinsightsandsol ut
ionsis
vast.Itincl
udesschedul i
ngairl
ines,bot hplanesandcrew,deci di
ngtheappr opri
atepl acetosi t
enew
facil
i
tiessuchasawar ehouseorf actory
,managingthefl
owofwat erfr
om reservoi
rs,identi
fyi
ngpossible
futur
edev el
opmentpat hsforpartsoft hetel
ecommunicat
ionsindustr
y,est
abli
shingthei nfor
mat i
onneeds
andappr opri
atesystemst osupplyt hem withi
nthehealt
hser vi
ce,andidenti
fyi
ngandunder standi
ngt he
strat
egiesadoptedbycompani esfort hei
rinf
ormati
onsyst
ems.
2.ManagementbyObj
ect
ive(
May
'12,
May
’13,
andDec’
12)
:
Thepr
ocessofsett
ingobj
ectiv
esi
ntheor
gani
zat
iont
ogi
veasenseofdi
rect
iont
otheempl
oyeesi
scal
l
ed
asManagementbyObject
ives.
ManagementbyObj ect
ivesi saprocesswherebysuperi
orandsubordi
nat
emanager sofanOrgani
zati
on
j
ointl
ydefinei
tscommongoal s,def
ineeachindiv
idual
'
smaj orar
easofresponsi
bil
i
tyintermsofresult
s
expectedofhi
m anduset hesemeasuresasguidesforoper
atingt
heuni
tandassessingthecont
ri
but
ionof
eachofitsmembers.
3.ManagementbyExcept
ion(
Nov
’11)
:
ManagementbyExcept ionisast yleofbusinessmanagementt hatfocusesoni denti
fyi
ngandhandl ing
casest hatdeviatef r
om t henor m.I tsobjecti
veist of acil
it
atemanagement 'sfocusonr eall
yimportant
tacticalandst r
ategictasks.I nMBE( ManagementbyExcept ion),t
hedecisionthatcannotbemadeatone
l
ev el ofmanagementi spassedont ot henexthigherlevel.
Managementbyexcept ionhasbot hagener albusinessapplicati
onandabusi nessint
ell
igenceappli
cat
ion.
Managementbyexcept ionher eisthepr act
iceofinvestigat
ing,resolv
ingandhandl i
ngsuchoccur r
encesby
usingski l
ledstaffandsof t
waret ools.
4.St rategi
cPl anning( Nov’10,Nov ’
11andNov ’12):
Strat
egicplanni
ngdeter
mineswhereanor gani
zati
onisgoingoverthenextyearormore,howi t
’sgoi
ngto
getther eandhow i
t'
llknow i
fitgotther
eornot .Thef ocusofast r
ategi
cplanisusuall
yont heent
ir
e
organizati
on.Whi
let
hefocusofabusinessplanisusual
l
yonapar ti
cul
arproduct
,ser
viceorprogram.
Thereareav ari
etyofperspect
ives,modelsandappr oachesusedi nstr
ategi
cplanning.Thewayt hata
st
rategi
c plan i
s devel
oped depends on the natur
e oft he or
ganizat
ion'
sleadershi
p,cultur
e oft he
organi
zati
on,complexi
tyoftheorgani
zati
on'
senv i
ronment,sizeoftheorgani
zati
on,expert
iseofplanners,
et
c.
Forexampl
e:t
her
ear
eav ar
iet
yofst r
ategi
cplanni
ngmodels,
incl
udinggoal
s-based,
issues-based,
organi
c,
scenar
io(
somewoul
dasser
tthatscenari
oplanni
ngismor
eofat echni
quethanmodel),etc.
5.E-
commer
ce&M-
commer
ce(
Dec’
11)
:
Elect
roni
ccommer ce,commonl yknownase-commer ceore-com,isthebuy i
ngandsel l
ingofpr oduct
sor
servi
cesoverelectronicsyst
emssuchast heInt
ernetandothercomput ernetwor
ks.Electroniccommer ce
drawsonsucht echnologiesaselect
roni
cfundstransfer
,supplychai
nmanagement ,Internetmarketi
ng,
onli
net r
ansacti
on pr ocessi
ng,el
ectr
onicdatainter
change( EDI)
,inventor
ymanagementsy st
emsand
automateddatacollecti
onsystems.
Whatism-commer ce?M-commer ce(mobi
lecommerce)isthebuyi
ngandselli
ngofgoodsandservi
ces
thr
ough wi
rel
esshandheld devi
cessuch assmar t
phonesand tablet
s.M-commerce i
sa f or
m ofe-
commercethatenabl
esuserstoaccessonl
i
neshoppi
ngplatf
ormswithoutt
heuseofadesktopcomput
er.
6.Jobdescr
ipt
ion(
Nov
’10)
:
Ajobdescri
pti
oni
salistthataper
sonmi ghtuseforgeneraltasks,orfunct
ions,andresponsibil
it
iesofa
posi
ti
on.Itmayoft
enincludetowhom thepositi
onr epor
ts,specif
icati
onssuchast hequal i
ficati
onsor
ski
ll
sneededbythepersoninthej
ob,orasalaryrange.Jobdescr i
ptionsar
eusual l
ynarrat
ive,butsome
mayi nst
eadcompriseasimpl
el i
stofcompet enci
es;f
orinstance,str
ategi
chumanr esourcepl
anni
ng
methodologi
esmaybeusedt odev elopcompetencyarchi
tect
uref oranor gani
zat
ion,from whi
chjob
descr
ipti
onsarebui
l
tasashor
tl
istofcompetenci
es.
Ajobdescr i
pti
onhasf ourmainuses:
1)Organi
zation-itdefi
neswher ethejobispositi
onedintheor ganizati
onst r
ucture.Whor epor
tst
owhom.
2)Recrui
tment-i tprovi
desessentiali
nformati
ont opotenti
alrecruit
s( andtherecr ui
ti
ngteam)sothatt
hey
candeterminether i
ghtkindofpersontodot hejob(seepersonspeci f
icati
on)
3)Legal-thejobdescripti
onformsani mportantpartofthelegall
y-bindingcont
r actofemployment
4)Apprai
sal ofperf
ormance-i ndi
vidualobj
ecti
vescanbesetbasedont hejobdescr i
pti
on
7.Mobi l
eBanking( Dec’
12):
Mobil
ebankingisasy
stem t
hatal
l
owscustomer
sofafi
nanci
ali
nsti
tut
iont
oconductanumberoff
inanci
al
t
ransact
ionsthr
oughamobil
edevi
cesuchasamobi
lephoneorper
sonaldi
git
alassi
stant
.
Mobilebanki
ngdif
fer
stomobil
epayment
'swhichinvol
vestheuseofamobil
edevi
cetopayforgoodsor
ser
viceseit
heratt
hepoi
ntofsal
eorremotel
y,anal
ogousl
ytotheuseofadebi
torcr
edi
tcar
dt oeff
ectan
EFTPOSpay ment
8.I
nfor
mat
ionTechnol
ogy
:
Informat i
ont echnology( IT)istheuseofanycomput ers,st orage,networ ki
ngandot herphy si
caldev i
ces,
i
nf rastructureandpr ocessest ocr eat e,process,store,secur eandexchangeal lformsofel ectronicdat a.
Informat i
ont echnology( I
T)i stheuseofcomput ersy stemsordev i
cest oaccessi nformat ion.Informat ion
technol ogyi sr esponsiblef orsuchal argepor t
ionofourwor kforce,businessoper ationsandper sonal
accesst oi nf
ormat i
ont hatitcompr i
sesmuchofourdai lyact i
viti
es.
9.I nter-
BranchReconci li
ati
on( Nov ’11):
Inter-BranchReconci l
iati
oni sani mpor tantback- off
icef unct i
onf orBanksandi tssignificancecannotbe
mor eemphasi zedi nt oday'sexpandi ngwor ldofbanki ng.Ascommer cialacti
viti
esandmoneyi nv olved
growi nmagni tude,co-ordinati
onbet weenact ivit
iesofal lbr anchesbecomesadaunt ingt ask.Wi ththi sin
per spect i
ve,itbecomesi mpor tantf orbankst opr otectt heirasset s.Incaseoff raudul entorer rorsi n
transact ionsduet onegl igence,agoodBankReconci li
ationsy stem helpsdet ectthem.Oncei dentif
ied,t he
errorscanber ecti
fi
edoratt hev eryleast ,
short-
circui
tt hepr ogressionofl osses.
Ther efore, i
tbecomesi mper ati
vet ohav eanef fici
entandr obustI BRsy stem, whi
chcanhandl ehi ghvol ume
ofdat awi thaccuracyandal sowi t
hani nbuil
tfl
exibili
tytohandl eexceptions.
10.JobSat
isf
act
ion
LockeandLat han(1976)giv
eacompr ehensi
vedefinit
ionofjobsati
sfacti
onaspleasurabl
eorposi
ti
ve
emotionalst
ateresul
ti
ngfrom t
heappr
aisalofone’
sj oborjobexper
ience.Jobsat
isf
acti
onisaresul
tof
employee'
spercepti
onofhowwellt
hei
rjobprovi
desthosethi
ngsthatareviewedasi
mpor t
ant.
Ther elat
ionshipbet
weenjobsat i
sfact
ionandmot i
vati
onatwor khasbeenoneofthewi del
yresear
ched
areasi nthefiel
dofmanagementi nrel
ati
ontodiff
erentpr
ofessi
ons,buti
nPaki
stanveryfewstudi
eshav e
exploredt hi
sconceptespeci
all
yonbanki ngsect
orsemployees.Accordi
ngt
oKhan( 1997),i
nthecurrent
businessenv i
ronment.
11.Communi
cat
ionPr
ocess(
Dec’
12)
:
Communi cat
ionisaprocessofexchangingverbalandnonver
balmessages.I ti
saconti
nuousprocess.Pr e-
requisi
teofcommuni cati
oni samessage.Thi smessagemustbeconv ey
edt hr
oughsomemedi um t othe
reci
pient.Iti
sessenti
althatthi
smessagemustbeunder stoodbytherecipientinsameter
msasi ntended
byt hesender .Hemustr espondwithinat i
mef rame.Thuscommuni cat
ioni sat wo-
wayprocessandi s
i
ncompl etewi t
houtafeedbackfrom thereci
pienttot
hesenderonhowwel lthemessageisunderstoodby
him.
12.Whati
sthemeani
ngofr
eal
-t
imei
nfor
mat
ion/
dat
a?
Real-
timedata(RTD)isi
nfor
mati
ont hati
sdeli
ver
edimmedi
atel
yaft
ercoll
ecti
on.Ther
ei snodelayi
nthe
ti
melinessoftheinf
ormat
ionpr
ovided.Real
-t
imedatai
soft
enusedf ornavi
gati
onortracki
ng.Realt
ime
descri
besahumansenseoftime(r
atherthanmachi
neti
me)t
hatseemsimmedi at
e.
13.Or
gani
zat
ional
cul
tur
e
Organizat
ionCultureisgener al
lyunder st
oodasal lofacompany '
sbel
iefs,val
uesandat tit
udes,andhow
theseinfl
uencethebehav iorofitsempl oyees.Cultur
eaf f
ectshowpeopleexper ienceanorganizat
ion—that
i
s, whatit
'sli
keforacustomert obuyf r
om acompanyorasuppl iertoworkwithi t.
Organizat
ionalcul
turei
sther ules,values,beli
efs,
andphi l
osophythatdi
ctatesteam member s'behaviori
na
company .Thecul t
ureconsi stsofanest abl
i
shedf ramewor kthatgui
deswor kplacebehavi
or.Exampl es
i
ncludeintegri
ty,
teamwor k,tr
anspar ency,andaccount abi
l
ity
.
14.Whati
sobj
ect
ive&Goal
swi
thexampl
e?
Anobject
iveissomethingyoupl
antoachi
eve.Ami l
it
aryobj
ecti
veistheov
eral
lpl
anforamission.The
obj
ect
iveforabakesaleist
orai
semoney.I
fyourobj
ecti
vei
stolearnanewword,
youhav
esucceeded.
Agoalsisanachievabl
eout
comet hati
sgener
all
ybroadandl
ongert
erm whil
eanobj
ect
ivei
sshort
erter
m
anddefi
nesmeasur abl
eact
ionst
oachieveanoveral
lgoal
.Whi
ledi
ff
erent
,thetwot
ermsareof
tenusedin
uni
sonwhenwor kingonaproj
ect
.
15.WhatI
sOut
sour
cing?
Outsourci
ngisthebusinesspract
iceofhi
ringapar
tyout
sideacompanyt
operfor
m serv
icesorcr
eate
goodsthatweretradi
ti
onall
yperf
ormedin-
housebyt
hecompany'
sownemploy
eesandstaf
f.Out
sour
cing
i
sapr acti
ceusual
l
yundertakenbycompani
esasacost-
cut
ti
ngmeasur
e.
16.Conf
li
ctManagement
?
Confl
ictmanagementi st
hepr ocessoflimi
ti
ngthenegat
iveaspectsofconf
li
ctandincr
easingt
heposit
ive
aspectsofconf
li
ct.Thegoalofconf l
i
ctmanagementistoimprovelear
ningandgroupoutcomes,i
ncl
udi
ng
perf
ormanceinanor gani
zat
ionalsett
ing.Pr
oper
lymanagedconfli
ctcanimpr
ovegroupoutcomes.
17.Jobanal
ysi
s(Nov
’10)
:
Jobanal ysis:Jobanalysi
sisthef ormalpr ocessofi dentif
yingthecontentofaj obint er
msact i
vi
ties
i
nvolvedandat tr
ibut
esneededtoperformt hewor kandi denti
fi
esmaj orj
obrequi
rement s.Jobanaly
siswas
conceptual
izedbyt woofthefoundersofi ndustr
ial/or
ganizati
onalpsychol
ogy,Frederi
ckTay l
orandLill
i
an
MollerGil
brethintheearl
y20thcentury.Jobanal ysespr ovi
deinfor
mat i
ontoorganizati
onswhi chhel
pst o
determi
newhi chempl oy
eesarebestfitf
orspeci f
icjobs.
1.Whati
sManagementbyExpect
ati
on?ThePhaseofME?Adv
ant
agesofME?
ManagementbyExcept ionisastyl
eofbusinessmanagementt hatf
ocusesoni dent
if
yingandhandl
ing
casest hatdevi
atefr
om thenorm.It
sobject
iveistof aci
l
itat
emanagement '
sf ocusonr eal
l
yimport
ant
tacti
calandstr
ategi
ctasks.InMBE(ManagementbyException),t
hedeci
sionthatcannotbemadeatone
l
ev elofmanagementispassedont
othenexthigherl
evel
.

Thepurposeoft hemanagementbyexcept i
onconcepti stoonlybot hermanagementwit
ht hemost
i
mport
antv ar
iancesf
rom t
hepl
anneddirect
ionorresult
soft hebusi
ness.Manager
swillpr
esumablyspend
moret
imeat t
endingt
oandcorr
ecti
ngtheselargervar
iances.
Theconceptcanbefine-t
uned,so thatsmallerv ar
iancesarebr
oughttotheat
tent
ionofl
ower
-l
evel
manager
s,whi
leamassiv
ev ar
iancei
sr epor
tedstr
aighttoseni
ormanagement
.
Adv
ant
agesofManagementbyExcept
ion:
#Itreducest
heamountoff
inanci
alandoper
ati
onalr
esul
tst
hatmanagementmustr
evi
ew,
whi
chi
samor
e
ef
fici
entuseoft
hei
rti
me.
#Thereportwrit
erli
nkedtotheaccount
ingsyst
em canbesett
oautomati
call
ypri
ntreport
satstat
ed
i
nter
val
sthatcont
aint
hepredet
ermi
nedexcept
ionl
evel
s,whi
chi
samini
mall
y-
invasi
ver
eporti
ngappr
oach.
#Thismethodall
owsemploy
eestofol
l
owthei
rownapproachestoachi
evi
ngther
esul
tsmandat
edi
nthe
company
'sbudget
.Managementwi
l
lonl
yst
epinifex
cept
ioncondi
ti
onsexi
st.
Di
sadv
ant
agesofManagementbyExcept
ion:
#Thi
sconcepti
sbasedont
heexi
stenceofabudgetagai
nstwhi
chact
ualr
esul
tsar
ecompar
ed.I
fthe
budgetwasnotwellf
ormulat
ed,t
heremaybeal ar
genumberofv
ari
ances,manyofwhi
char
eir
rel
evant
,
andwhichwi
llwast
etheti
meofany onei
nvest
igat
ingthem.
#Theconceptrequi
rest
heuseoff i
nanci
alanaly
stswhoprepar
ev ari
ancesummariesandpresentt
his
i
nfor
mati
ont omanagement
.Thus,anextr
alayerofcor
por
ateoverheadisrequi
redt
omaket heconcept
f
uncti
onproper
ly.
# Thisconcepti sbased on the command-and-
cont
rolsyst
em,where condit
ionsare monit
ored and
decisi
ons made by a cent r
algroup ofseniormanagers.You coul
di nst
ead have a decentr
ali
zed
organi
zat
ionalstr
ucture,
wherelocalmanager
scouldmonit
orcondi
ti
onsonadai l
ybasi
s,andsowoul dnot
needanexceptionreport
ingsyst
em.
#Theconceptassumesthatonl
ymanager
scancorr
ectvar
iances.I
fabusi
nesswerei
nst
eadstr
uctur
edso
t
hatfr
ontl
ineemployeescoul
ddeal
withmostv
ari
ancesassoonast heyar
ise,
ther
ewoul
dbeli
tt
leneedf
or
managementbyexcepti
on.
2.Whati
sSt
rat
egi
cPl
anni
ng?Ty
pesofSt
rat
egi
cPl
anni
ng?
St
rat
egi
cPl
anni
ng(
Nov
’10,
Nov
’11andNov
’12)
:
Strat
egicplanni
ngdeter
mineswhereanor gani
zati
onisgoingoverthenextyearormore,howi t
’sgoi
ngto
getther eandhow i
t'
llknow i
fitgotther
eornot .Thef ocusofast r
ategi
cplanisusuall
yont heent
ir
e
organizati
on.Whi
let
hefocusofabusinessplanisusual
l
yonapar ti
cul
arproduct
,ser
viceorprogram.
Thereareav ari
etyofperspect
ives,modelsandappr oachesusedi nstr
ategi
cplanning.Thewayt hata
st
rategi
c plan i
s devel
oped depends on the natur
e oft he or
ganizat
ion'
sleadershi
p,cultur
e oft he
organi
zati
on,complexi
tyoftheorgani
zati
on'
senv i
ronment,sizeoftheorgani
zati
on,expert
iseofplanners,
et
c.
Therear
eav ar
iet
yofst r
ategi
cplanni
ngmodel
s,i
ncl
udinggoal
s-based,i
ssues-based,or
gani
c,scenar
io
(somewoul
dassertt
hatscenar
iopl
anningi
smor
eofatechni
quethanmodel),et
c.
1)Goals-
basedplanni
ngisprobabl
ythemostcommonandstar
tswithfocusontheor
gani
zat
ion'
smissi
on
(andvisi
onand/orval
ues),goal
stoworktowardt
hemissi
on,str
ategi
est oachi
evet
hegoalsandacti
on
planni
ng(whowilldowhatandbywhen).
2)Issues-basedstrat
egi
cplanni
ngof t
enst
art
sbyexami
ningi
ssuesf
aci
ngt
heor
gani
zat
ion,st
rat
egi
est
o
addressthoseissuesandacti
onplans.
3)Organi
cstrategi
cplanningmi ghtst
artbyar
ti
cul
ati
ngtheorgani
zat
ion'
svisi
onandv
alues,andt
henact
ion
pl
anst oachiev
et hevisi
onwhi leadheri
ngtothoseval
ues.Someplannerspref
erapart
icul
arappr
oachto
pl
anning,
e.g.appreci
ativ
ei nqui
ry.
Some, pl
ansarescopedtooney ear
,manyt
othr
eey ear
sandsometofiv
etotenyear
sint
othefut
ure.Some
pl
ansincludeonl
ytop-lev
eli
nformati
onandnoact
ionplans.Somepl
ansar
ef i
vetoei
ghtpagesl
ong,whil
e
other
scanbeconsi der
ablyl
onger.
3.Whati
sJobEv
aluat
ion(
Nov
’10)
?Di
scussofPur
poseofJobEv
aluat
ion?
Aj obeval
uati
onisasy st
ematicwayofdet er
mini
ngt hev
alue/wort
hofaj
obi nr
elat
iontootherj
obsinan
organi
zati
on.Ittr
iestomakeasy stemati
ccomparisonbetweenjobst
oassessthei
rrel
ati
veworthf
orthe
purposeofestabl
ishi
ngarat
ionalpaystr
uctur
e.
Jobeval
uati
onneedstobedi f
ferenti
atedfrom j
obanal y
sis.Jobanaly
sisi
sasy stemati
cwayofgat her
ing
i
nformat
ionaboutajob.Ever
yjobev aluati
onmet hodrequir
esatleastsomebasicjobanalysi
sinorderto
prov
idefact
ualinf
ormati
onaboutt hej obsconcerned.Thus,jobeval
uati
onbeginswithjobanaly
sisand
endsatt
hatpointwher
ethewor t
hofaj obisascertai
nedforachiev
ingpayequi
tybetweenjobs.
Pur
poseorFeat
uresofJobev al
uat
ion:Thepurposeofj
obeval
uationi
stopr
oduceadef ensi
verankingof
j
obsonwhicharati
onalandaccept
ablepaystr
uctur
ecanbebui
lt.Thei
mport
antfeat
uresofjobevaluat
ion
maybesummarizedthus:
  I
ttr
iest
oassessj
obs,
notpeopl
e.
 Thest
andar
dsofj
obev
aluat
ionar
erel
ati
ve,
notabsol
ute.

 Thebasi
cinf
ormat
iononwhi
chj
obev
aluat
ionsar
emadei
sobt
ainedf
rom j
obanal
ysi
s.

 Jobev
aluat
ionsar
ecar
ri
edoutbygr
oups,
notbyi
ndi
vi
dual
s.

 Somedegr
eeofsubj
ect
ivi
tyi
sal
way
spr
esenti
njobev
aluat
ion.

 Jobeval
uati
ondoesnotf
ixpayscal
es,
butmer
elypr
ovi
desabasi
sforev
aluat
ingar
ati
onal
wage
str
uct
ure.
Ther
ear
etwost
eps/
Tool
sinv
olv
edi
nthi
spr
ocess:
1. JobAnalysi
sandJobDescr i
pti
on-Usinga"j
obpr of
il
e,"t
hecontentofeachj
obisanal
yzedtoident
if
y
keydut
ies,responsi
bil
i
ties,
andquali
fi
cati
onnecessarytoper
for
mt hejob.Wr
it
tenj
obdescri
pti
onsare
thenpr
eparedt ocont
ainthi
sinfor
mati
on.
2.JobEvaluat
ion-Acomput erassi
stedjobeval
uati
onplan,measuri
ng17dimensi
onsofnonexemptwor k
and28di mensi onsofexemptwor k,isusedt oevaluat
ether el
ati
vewort
hofstaffposit
ions.This
eval
uat
ionpr ocessfocusesonv al
uingthecontentofeachposit
ioninter
msofaseri
esofwel l
-def
ined
compensablefactors
Jobdescr
ipt
ion(
Nov
’10)
:
Ajobdescr i
pti
oni
sal i
stt hatapersonmi ghtusef orgener altasks,orfuncti
ons,andresponsibil
it
iesofa
posit
ion.Itmayoft
eni ncludetowhom t hepositionr eport
s,speci f
icati
onssuchast hequal i
ficati
onsor
ski
ll
sneededbyt heper soninthejob,orasal ar
yr ange.Jobdescr i
ptionsareusuall
ynarrati
ve,butsome
mayi nsteadcompri
seasi mpleli
stofcompet encies;fori nstance,strat
egichumanr esourcepl anni
ng
methodologi
esmaybeusedt odev el
opcompet encyar chitect
uref oranor gani
zati
on,from whi chjob
descri
pti
onsarebui
ltasashor t
li
stofcompet enci
es.
Creati
ngaj obdescri
pti
on:A jobdescri
pti
oni susual
lydevel
opedbyconduct i
ngaj obanal
ysi
s,which
i
ncludesexamini
ngthetasksandsequencesoftasksnecessar
ytoperfor
mt hej
ob.Theanal
ysi
sconsi
ders
theareasofknowl
edgeandskil
lsneededforthejob.Aj
obusuall
yincl
udessever
alrol
es.

Rol
esandr
esponsi
bil
i
ties:
Ajob descr
ipt
ion mayincl
ude r
elat
ionshi
pswit
h otherpeopleint
he or
gani
zat
ion:Super
visor
ylev
el,
manager
ialr
equir
ement
s,andrel
ati
onshipswit
hot
hercoll
eagues.
Goals:Ajobdescr
ipt
ionneednotbel i
mit
edtoexpl
aini
ngthecur
rentsi
tuat
ion,orwor
kthati
scur
rent
ly
expected;
itmayal
sosetoutgoal
sforwhatmi
ghtbeachi
evedi
nfut
ure.
Li
mit
ati
ons:
Prescr
ipt
ivej
obdescr
ipt
ionsmaybeseenasahi
ndr
ancei
ncer
tai
nci
rcumst
ances:
1.Jobdescri
pti
onsmaynotbesui
tabl
eforsomeseni
ormanager
sast
heyshoul
dhav
ethef
reedom t
otake
thei
nit
iat
iveandfi
ndf
rui
tf
ulnewdi
recti
ons;
2.Jobdescri
pti
onsmaybetooinf
lexi
blei
nar
api
dly
-changi
ngor
gani
zat
ion,f
ori
nst
ancei
nanar
easubj
ect
torapi
dtechnol
ogi
cal
change;
3.Ot
herchangesi
njobcont
entmayl
eadt
othej
obdescr
ipt
ionbei
ngoutofdat
e;
4.Thepr
ocesst
hatanor
gani
zat
ionusest
ocr
eat
ejobdescr
ipt
ionsmaynotbeopt
imal
.
Whati
sManagementbyObj
ect
ive?Themai
nobj
ect
ivesofmanagementar
epr
ovi
dingbel
ow:
1.Get
ti
ngMaximum Resul
tswi
thMi ni
mum Effor
ts:Themainobject
iveofmanagementistosecure
maxi
mum out
put
swit
hmi ni
mum ef
for
ts&resour
ces.Managementi
sbasi
cal
lyconcer
nedwi
tht
hinki
ngand
uti
l
izi
nghuman,mater
ialandfinanci
alr
esourcesi
nsuchamannert
hatwoul
dresul
tinbestcombi
nat
ion.
Thiscombi
nat
ionr
esul
tsinreducti
onofvari
ouscosts.
2.Incr easi
ngt heEf fi
ciencyoff actor
sofPr oduction:Thr
oughproperuti
li
zati
onofvari
ousf act
orsof
product i
on.Theireff
ici
encycanbei ncr
easedtoagr eatext
entwhi
chcanbeobt ai
nedbyr
educingspoil
age,
wast agesandbr eakageofal lki
nds;thi
sinturnleadstosavi
ngoft
ime,eff
ortandmoneywhichisessenti
al
forthegr owthandpr osperit
yoftheenterpr
ise.
3.Maxi mum Prosperi
tyf orEmployer& Employees:Managementensures smooth and coordi
nat
ed
funct
ioni
ngoftheenter
prise.Thi
sint
urnhel
psinprovi
dingmaxi
mum benef
it
stot heemployeei
ntheshape
ofgoodwor ki
ngcondit
ion,suit
abl
ewagesystem,i
ncentiv
epl
ansontheonehandandhi gherprof
it
stothe
employerontheot
herhand.
4.Humanbet t
erment& Soci
alJusti
ce:Managementser vesasat oolfort heor
gani
zat
ionaswellas
better
mentoft hesociet
y.Thr
oughincreasedpr oducti
vit
y& employment,managementensur
esbett
er
standardsofl
i
vingf
orthesoci
ety
.Itpr
ovi
desj ust
icethroughit
suni
form pol
i
cies.
Themai
ncomponent
sofcommuni
cat
ionpr
ocessar
easf
oll
ows:
1.Context
:Communi
cati
oni
saf fect
edbythecont
extinwhichitt
akespl
ace.Thiscont
extmaybephysi
cal
,
soci
al,chr
onol
ogi
calorcul
tural
.Everycommunicat
ionproceedswithcontext
.Thesenderchoosesthe
messagetocommunicat
ewithi
nacontext.
2.Sender/Encoder :Sender/Encoderar eapersonwhosendsthemessage.Asundermakesuseof
symbols(wordsorgr aphi
c,orvi
sualai
ds)toconveyt
hemessageandpr
oducetherequi
redr
esponse.For
i
nstance,atr
aini
ngmanagerconduct i
ngtrai
ningf
ornewbat
chofemploy
ees.Sendermaybeanindivi
dual
oragrouporanor ganizat
ion.
3.Message:Messageisakeyideat hatthesenderwantstocommuni cate.I
tisasignthatel
i
cit
sthe
responseofr
eci
pient
.Communi
cationprocessbegi
nswithdeci
dingaboutthemessagetobeconvey
ed.I
t
mustbeensuredt
hatthemai
nobjecti
veofthemessageiscl
ear.
4.Medi um:Medium i
sameansusedt o-
exchange/transmi
tsthemessage.Thesendermustchoosean
appr opriat
emedium f
ortransmitti
ngthemessageelsethemessagemightnotbeconveyedt
othedesir
ed
recipients.Thechoi
ceofappr opri
atemedium ofcommunicat
ionisessenti
alformakingthemessage
effectiveandcor
rect
lyi
nterpret
edbyt her
eci
pient.
5.Recipi
ent/Decoder:Recipi
ent/Decoderisaper sonforwhom t
hemessagei sintended/ai medL
tar
geted.Thedegreet
owhi chthedecoderunderst
andsthemessageisdependentuponv ari
ousfactor
s
suchasknowl edgeofreci
pient,t
hei
rresponsi
venesstothemessage,andther el
ianceof 'encoderon
decoder.

6.Feedback:
Feedbacki sthemai ncomponentofcommuni cati
onprocessasitpermit
st hesendert oanal
yzethe
eff
icacyoft hemessage.I
thelpsthesenderinconfir
mingthecor
recti
nter
pretat
ionofmessagebyt he
decoder.Feedbackmaybeverbal(
throughwords)ornon-
ver
bal(
inf
orm ofsmil
es,sighs,
etc.
).I
tmaytake
wri
ttenform al
soinfor
m ofmemosr eport
s,et
c.
I
ndust
ri
alRel
ati
ons(
Dec’
12)
:
Industri
alrelat
ionsareamul t
idisciplinaryfi
eldthatst
udi
est heemploymentr el
ati
onship.I
ndust
ri
alrel
ati
ons
areincreasinglybei
ngcall
edempl oy mentr el
ati
onsorempl oyeer
elati
onsbecauseoft heimport
anceofnon-
i
ndust r
ialempl oymentrel
ationshi ps:t hi
smov ei ssometimesseenasf ur
therbroadeningofthehuman
resource managementt rend.I ndeed,some aut hors now define human r esource managementas
synony mouswi t
hempl oyeer elations.Ot herauthor
sseeempl oyeerelati
onsasdeal i
ngonlywithnon-
unioni
zedwor kers,
Whereasl
aborr
elat
ionsar
eseenasdeal i
ngwit
huni
oni
zedworker
s.Indust
ri
alr
elati
onsstudiesexamine
var
iousempl
oymentsit
uat
ions,notj
ustoneswi
thauni
oni
zedworkf
orce.However,accor
dingtoBniceE.
Kaufman"Toal argedegr ee.Mostscholar
sregardtradeunionism.Coll
ect
ivebargai
ningandlabour
-
managementrel
ati
ons,andt henat
ionall
abourpol
icyandlabourlaw wi
thi
nwhichtheyareembedded,as
thecor
esubj
ectsofthefi
eld."
Per
for
manceappr
aisal
/mer
it
-r
ati
ngorper
for
manceev
aluat
ion(
Nov
’10)
:
Mer i
tRating:Perf
ormanceappr aisal,meri
t-rati
ngorper formanceev aluat i
onisoneoft hemostimpor t
ant
functi
ons ofper sonnelmanagement !Peopl e differi nt heirabili
ties and apt i
tudes.The personnel
managementshoul d know t hese di f
fer
ences t o dev el
op v ari
ous dev elopmentpr ogrammersi nt he
organizat
iontohav eanef f
ici
entwor kfor
ce.Mer i
tratingt echni quehasbeenev olvedt oknowtherelati
ve
worthoft heempl oyee-quantit
ativel
yandqual it
ati
vely- ont hej ob,incompar i
sont ootherfel
low workers.
Mer i
trati
ngisusedf ormeasur i
ngt hemer itorper f
or manceofanempl oyeeandcompar i
ngitwiththatof
othersint hesamegr oup.Accor dingt oFilippo— " Mer i
t-
ratingi sasy stemati
c,periodi
cand,sof aras
humanl ypossibl
e,ani mpar ti
alrati
ngofanempl oyee'sexcel l
encei nmat t
erspertai
ningtohispresentjob
andtohi spotent
iali
ti
esf orajob.
MANAGEMENTSKI
LLS
A manager’sjobisv ariedandcompl ex.Hence,managersneedcert
ainskil
lst
oper f
ormthef
uncti
ons
associat
edwi t
ht heirjobs.Duri
ngt heearly1970s,RobertK.Kalzident
if
iedthr
eekindsofski
l
lsfor
administ
rat
ors.Thesear et
echnical
,humanandconcept ualski
l
ls.A f
ourt
hskil
l– theabi
li
tyt
odesign
solut
ions–wasl ateraddedtotheabovement i
onedski
l
ls.
Techni
cal
Ski
l
ls
Techni
calskil
l
sref
ert otheabil
i
tyofapersontocarryoutaspecifi
cact i
vi
ty.Inordertodoso, oneneedst o
haveknowledgeofmet hods,pr
ocessesandprocedures.Engi
neers,comput erspeci
ali
sts,accountant
sand
employeesinmanufacturi
ngdepar
tmentsall
havethenecessarytechnicalskil
lsfort
heirspecial
izedfi
elds.
HumanSki
l
ls
Humanskil
lsorinterper
sonalskill
sref
ertotheabi
l
ityofaper
sontoworkwel
lwit
hotherpeopl
ei nagroup.
Iti
stheabil
it
yt olead,motivate,andcommunicat
ewi t
hpeoplet
oaccompli
shcert
ainobject
ives.Human
ski
ll
sareofparamounti mportanceinthecr
eati
onofanenvir
onment
,inwhi
chpeopl
efeelcomfortabl
eand
arefr
eetovoi
cet hei
ropini
ons.
Concept
ual
Ski
l
ls
Conceptualski
ll
sr efertotheabili
tyofaper sont othinkandconceptual
izeabst
ractsit
uati
ons.I
tisthe
abil
it
yt ounder
standandcoor di
natethefullrangeofcorporat
eobject
ivesandactivi
ti
es.Theseskil
l
sare
mosti mport
antatt hetopmanagementl evel,
ast op-
lev
elmanagershavet hegr
eat
estneedt oseethe“bi
g
pi
cture,
”tounderstandhow thev ari
ouspar t
soft heorganizat
ionr
elat
et ooneanotherandassociat
ethe
organi
zati
onwiththeext er
nalenvi
ronment.
Desi
gnSki
l
ls
Designski l
lsref
ert otheabi l
it
yofaper sontofindsolut
ionstopr obl
emsinway st hatwoul dbenefi
tthe
organizati
on.Topmanager sshouldnotonlyr
ecognizeaproblem butal
sosuggestway stoov ercomethem.
Iftheyonlyseet heprobl
em, theybecomemer e“probl
em watchers,
”andwil
lproveineffect
ive.Managersat
upperor ganizat
ionallev
elsshoul dbeabletodesi gnar at
ionalandfeasi
blesoluti
ont ot hepr obl
em by
consideri
ngt hevari
ousinternalandext
ernalf
actors.
Sci
ent
if
icManagement
Sci
enti
fi
cmanagement ,alsocall
edTaylori
sm,wasat heoryofmanagementt hatanalyzedandsy nthesi
zed
workf
lows.Itsmainobjecti
vewasi mprovingeconomicef f
ici
ency
,especiall
yl aborproducti
vi
ty.Itwasone
ofthe earl
iestatt
empt sto applyscience t
ot he engineeri
ng ofprocessesand t o management .Its
devel
opmentbeganwi thFrederi
ckWi nslow Tayl
ori nthe1880sand1890swi t
hint hemanuf act
uring
i
ndustri
es.I
tspeakofinfl
uencecamei nthe1910s;byt he1920s,i
twasst i
llinfl
uenti
albuthadbegunaner a
ofcompetit
ionandsyncreti
sm withopposingorcompl ementaryi
deas.Althoughscient i
fi
cmanagementas
adist
incttheoryorschoolofthoughtwasobsol etebyt he1930s,mostofi tsthemesar est
illimportant
part
sofi ndustri
alengineeri
ngandmanagementt oday.Theseincludeanaly
sis;synthesis;l
ogic;r
ationali
ty;
empiri
cism;wor ket hi
c;effi
ciencyandeli
minati
onofwast e;standardi
zat
ionofbestpr acti
ces;disdainfor
tr
aditi
onpreservedmer elyforitsownsakeormer elyt
opr ot
ectthesocialstatusofpar t
icul
arwor kerswith
part
icul
arskillsets;thetransformat
ionofcraftproductionint
omasspr oduction;andknowl edget ransf
er
betweenwor kersandf r
om wor kersi
ntot
ools,processes,anddocument at
ion.
Sci
enti
fi
cmanagement
'sappl
i
cat
ionwascont
ingentonahi
ghl
evelofmanager
ialcont
rolov
erempl
oyee
workpract
ices.
Pl
anni
ng
Planninginor ganizationsandpubl i
cpol i
cyi sbot htheor gani zati
onalprocessofcr eatingandmai ntaininga
plan;andt hepsy chologi calpr ocessoft hi
nkingaboutt heact ivi
tiesrequiredtocr eateadesiredgoalon
somescal e.Assuch,i tisaf undament alpr opertyofi ntell
igentbehav i
or .Thisthoughtpr ocessisessent ial
tothecr eati
onandr ef i
nementofapl an,ori ntegrati
onofi twi t
hot herplans,thatis,itcombinesforecast i
ng
ofdev elopment swi tht hepr epar ati
onofscenar i
osofhow t oreactt ot hem.Ani mport
ant,albeitof t
en
i
gnor edaspectofpl anni ng,ist her el
at i
onshi pitholdswi thf orecasti
ng.For ecastingcanbedescr ibedas
predicti
ngwhatt hef uturewi lllookl ike,wher easpl anni ngpr edictswhatt hefutureshoul dlookl i
ke.The
termi salsousedf ordescr i
bingt hef ormalpr ocedur esusedi nsuchanendeav or,suchast hecr eationof
document s,diagrams,ormeet ingst odi scusst hei mpor tantissuest obeaddr essed,t heobjectiv
est obe
met ,andt hest rategyt obef oll
owed.Bey ondt his,planni nghasadi ffer
entmeani ngdependi ngont he
poli
ticaloreconomi ccont extinwhi chi ti
sused.
Ty
pesofpl
an
Tacti
cal
plans:
At act
ical
planisconcernedwi
thwhatthelowerlev
eluni
tswi
thi
neachdi
visi
onmustdo,
how
theymustdoit
,andwhoi sinchargeateachl
evel
.Tacti
csarethemeansneededt
oacti
vateast
rat
egyand
St
rat
egicpl
ans:Astrat
egicplanisanoutl
i
neofstepsdesi
gnedwiththegoal
soft heenti
reorganizat
ionas
awholeinmind,r
atherthanwiththegoal
sofspecif
icdi
vi
sionsordepar
tments.Str
ategi
cplanningbegins
wi
thanorgani
zati
on'
smi ssi
on.
Cont
ingencypl
ans:I
ntel
l
igentandsuccessfulmanagementdependsuponaconstantpursui
tofadapt
ati
on,
fl
exi
bil
i
ty,andmaster
yofchangingconditi
ons.Strongmanagementrequi
resa“keepingallopt
ionsopen”
appr
oachatall
times—t hat
'swher
econtingencyplanni
ngcomesin.
I
nter
-Br
anchReconci
l
iat
ion
Inter
-branchr econcil
iat
ionisamaj oractivi
tyf orbanksand f i
nanci
alinsti
tut
ionsl ooking to createa
balancedco- ordinat
ionbetweent hei
rv ari
ousbr anchesandt hei
ractivi
ti
es.TechNetof fersinter-branch
reconcili
ationser vi
ceswherebyourt r
ainedprofessi
onalscovereveryt
ransact
ion,exchangeofser vicesand
otherinteractionsbet weendif
fer
entbranchesofabankorsubsi di
ari
esofacompany .Ourexper t
sensur ea
keenat tentiont odetail
,cover
ingeveryint
eracti
oni ndept
h,soasnott omi ssoutonanyi nherentflawsor
discrepancy .
Inter-
branchreconci
l
iat
ioncanhelptheor gani
zati
ondiscoveranyerrorsornegl
igencei
ntransacti
onsand
makeduechanges.Ourexper ts,wit
ht hei
rdetai
ledfi
nancialknowl
edge,canhelptonotonl
yf i
nder r
orsbut
alsofacili
tat
einremovi
ngormi ni
mizingthem.Wear etrai
nedt ohandlelar
gevol
umesoff i
nancialdataand
hav eworkedwi t
hcompaniesofall
scales.

Jobev
aluat
ion
Aj obeval
uati
onisasy st
ematicwayofdet er
mini
ngt hev
alue/wort
hofaj
obi nr
elat
iontootherj
obsinan
organi
zati
on.Ittr
iestomakeasy stemati
ccomparisonbetweenjobst
oassessthei
rrel
ati
veworthf
orthe
purposeofestabl
ishi
ngarat
ionalpaystr
uctur
e.
Jobev
aluat
ioni
samet
hodf
orcompar
ingdi
ff
erentj
obst
opr
ovi
deabasi
sforagr
adi
ngandpayst
ruct
ure.
I
tsaimist
oev al
uat
ethejob,notthej
obholder
,andtoprovi
dearelat
ivelyobj
ect
ivemeansofassessingthe
demandsofajob.I
tisanassessmentoftherelat
ivewort
hofvari
ousj obsonthebasi
sofaconsistentset
ofj
obandpersonal
fact
ors,suchasqual
if
icati
onsandskil
l
srequi
red.
Theobjecti
veofjobev al
uat
ionist odet er
mi newhichjobsshouldgetmor epaythanother
s.Sev eral
methodssuchasjobr anki
ng,jobgrading,
andf act
orcompari
sonareemploy edinj
obeval
uati
on.Research
i
ndicat
es,however
,thateachmet hodisnear l
yasaccurat
eandr el
iabl
east heotheri
nranki
ngandpr i
cing
di
ff
erentj
obs.Jobevaluati
onformst hebasisforwageandsalar
ynegoti
ati
ons.
E-
commer
ce
Electroni
ccommer ce,commonl yknownasecommer ce,i
sat y peofindust r
ywher ebuy i
ngandsel li
ngof
productorservi
ceisconduct edov erelectronicsyst
emssuchast heInternetandot hercomput ernetworks.
Electroni
ccommer cedr awsont echnologiessuchasmobi lecommer ce,electroni
cf undst r
ansf er
,supply
chainmanagement ,Internetmar keti
ng,onl inetr
ansacti
onpr ocessing,electr
onicdat ai nterchange( EDI)
,
i
nv entorymanagementsy st
ems,andaut omat eddatacollect
ionsy stems.Moder nel ectr
oni ccommer ce
typicall
yusestheWor l
dWi deWebatl eastatonepoi nti nthetransaction'
sl i
fe-cycle,alt
houghi tmay
encompassawi derrangeoft echnologiessuchase- mail
,mobiledev i
cessoci almedia,andt elephonesas
well.
Elect
roni
ccommerceisgener
all
yconsider
edtobethesal
esaspectofe-
busi
ness.I
talsoconsi
stsoft
he
exchangeofdat
atof
acil
i
tatet
hefinanci
ngandpay
mentaspect
sofbusi
nesstr
ansact
ions.
Mobi
l
eBanki
ng
Mobil
ebankingisasy
stem t
hatal
l
owscustomer
sofafi
nanci
ali
nsti
tut
iont
oconductanumberoff
inanci
al
t
ransact
ionsthr
oughamobil
edevi
cesuchasamobi
lephoneorper
sonaldi
git
alassi
stant
.
Mobilebanki
ngdif
fer
sfr
om mobi
lepayments,whichinvol
vetheuseofamobil
edevicet
opayf orgoodsor
ser
viceseit
heratt
hepoi
ntofsal
eorremotely
,[1]analogousl
ytotheuseofadebi
torcredi
tcardtoeff
ect
anEFTPOSpay ment.
Theearl
i
estmobil
ebanki
ngservi
ceswereoffer
edov erSMS,aser v
iceknownasSMSbanki
ng.Wit
hthe
i
ntr
oducti
onofsmartphoneswit
hWAPsuppor tenabli
ngt heuseoft hemobi
lewebi
n1999,thefi
rst
Eur
opeanbanksst
art
edtooff
ermobi
lebanki
ngonthisplatf
ormtotheircust
omer
s.
I
nt odayworldMobileBanki
ngisapopul arterm.Mobi l
eBanki
ngmeansaf i
nanci
altransact
ionconduct ed
byloggingontoabank' swebsi
teusi ngacel lphone,suchasviewingaccountbalances,makingt r
ansfers
betweenaccounts,orpayi
ngbil
ls.Itisat erm usedf orper
for
mi ngbalancechecks,accounttransact
ions,
payment set
c.vi
aamobi l
edevicesuchasamobi l
ephone.Inr ecentti
meMobi lebankingismostof ten
perfor
medv i
aSMSort heMobil
eI nternetbutcanal sousespecialprogr
amscal l
edclient
sdownl oadedt o
themobi l
edevi
ce.
Onl
i
nebanki
ng
Comput er
izedservicethatallowsabank' scustomer stogetonlinewi t
ht hebankv iatel
ephonel i
nestov i
ew
thestatusoftheiraccount(s)andt ransacti
onhi st
ory.I
ti ssystem all
owi ngindi
vidualstoper f
orm banking
acti
vit
iesathome, viatheinternet
.Itusuall
yalsoallowst hem totransferfunds,paybill
s,requestcheckThe
perf
ormanceofbanki ngact ivi
ti
esv i
at heInternet
.Onlinebanki ngisal soknownas" I
nternetbanki
ng"or
"Webbanki ng."A goodonl inebankwi lloff
ercust omer sjustaboutev eryservicetradit
ional
lyavail
able
thr
oughal ocalbranch,includingaccept i
ngdeposi t
s( whichisdoneonl i
neort hrought hemai l
),payi
ng
i
nterestonsav i
ngsandpr ovidinganonl i
nebillpaymentsy st
em.
HumanResour
ceDev
elopment(
HRD)
Thepar tofhumanr esour
cemanagementt hatspecif
icall
ydeal
swi t
ht r
aini
nganddev el
opmentofthe
empl oyees.Human resource developmentincl
udes tr
aini
ng an i
ndi
vidualaft
erhe/she i
sfir
sthired,
providi
ngopportuni
ti
est olear
nnew ski l
l
s,di
str
ibut
ingresour
cesthatarebenefici
alf
ortheemployee'
s
tasks,andanyotherdevel
opment alacti
vi
ti
es.
HumanResour cesDevel
opment(HRD)asat heoryisaf rameworkf ortheexpansionofhumancapi t
al
wit
hinanor ganizat
ionthr
oughthedev el
opmentofbot ht heorganizati
onandt hei ndi
vi
dualtoachieve
perf
ormancei mprovement
.Adam Smithstat
es,“Thecapaciti
esofindivi
dualsdependedont hei
raccessto
educati
on”.Thesamest at
ementappl
iestoorganizat
ionsthemselves,butitrequi
resamuchbr oaderfi
eld
tocoverbothareas.
HumanResour ceDev el
opment(HRD)isthef r
amewor kf orhelpingempl
oyeesdevelopt
hei
rpersonaland
organizat
ionalski
lls,knowl
edge,andabil
i
ties.HumanResour ceDevel
opmentincl
udessuchopportunit
ies
asempl oyeetrai
ning,employeecar
eerdevelopment,performancemanagementanddev el
opment
, coachi
ng,
ment ori
ng,successi on planni
ng,key empl oyee identif
icati
on,tui
ti
on assi
stance,and or
ganization
development.
Thefocusofal
laspect
sofHumanResour
ceDev el
opmenti
sondevel
opi
ngthemostsuperi
orworkf
orceso
thatt
heorgani
zat
ionandi
ndi
vi
dual
employeescanaccompl
isht
hei
rworkgoal
sinser
vicet
ocustomers.
HumanResour ceDev el
opmenti stheintegrateduseoft r
aini
ng,organi
zati
on,andcar eerdevelopment
effort
stoi mproveindivi
dual,groupandor ganizati
onaleff
ecti
veness.HRDdev el
opst hekeycompet enci
es
thatenabl eindivi
dualsin organizati
onst o perfor
m currentand futur
ej obsthrough planned l
earni
ng
activ
iti
es.Groupswi thi
norganizati
onsuseHRDt oini
ti
ateandmanagechange.Al so,HRDensur esamat ch
betweeni ndi
vidualandorganizati
onalneeds.
Cent
ral
i
zat
ion
Centrali
zation,orcentrali
zati
on( seespel
l
ingdif
fer
ences)
,isthepr
ocessbywhi chtheacti
vi
ti
esofan
organizati
on,par t
icul
arlythoseregardi
ngplanni
nganddecisi
on-
making,becomeconcent
rat
edwit
hina
parti
cularlocati
onand/ orgroup.
Thet er
m hasav ar
ietyofmeani ngsi nseveralfi
elds.Inpol i
ti
calscience,centr
ali
zationreferstothe
concentr
ati
on ofa gov ernment's power– bot h geographicall
y and poli
ti
call
y– i nto a central
i
zed
government.I
nneuroscience,centr
ali
zat
ionrefer
st otheev olut
ionaryt
rendoft hener voussystem tobe
part
it
ionedint
oacentralnervoussystem andperi
pheralnervoussystem.Inbusinessstudies,
central
i
zati
on
anddecentr
ali
zat
ionrefertowheredecisi
onsaremadei nthechainofcommand.
Thedegreeofcentrali
zat
ionanddecentr
ali
zati
onwilldependupontheamountofauthor
it
ydelegatedtothe
l
owestlevel.Accordi
ngtoAllen,“
Decent
ral
izat
ionreferstothesystemati
ceff
ortt
odelegat
et othelowest
l
evelofauthori
tyexceptt
hatwhichcanbecontrol
ledandexer ci
sedatcent
ral
point
s.
Decent
ral
i
zat
ion
Decentral
i
zationisasy stemati
cdelegati
onofauthor
it
yatal llevel
sofmanagementandi nalloft
he
organi
zati
on.I nadecentr
ali
zat
ionconcern,aut
hor
it
yinret
ainedbyt hetopmanagementf
ortaki
ngmajor
decisi
onsandf ramingpol
ici
esconcer
ningthewhol
econcern.Restoftheaut
hor
it
ymaybedelegat
edtot
he
middlelevel
andl owerl
evelofmanagement.
Decentral
i
zati
oni snott hesameasdel egation.Infact,decent r
alizati
oni sallextensi
onofdel egation.
Decentral
i
zati
onpat t
erni swiderisscopeandt heauthorit
iesar edi ff
usedt ot helowestmostl evelof
management .Delegationofauthori
tyisacompl eteprocessandt akespl acefr
om oneper sontoanot her.
Whi l
edecent
rali
zationi scomplet
eonl ywhenf ull
estpossibl
edel egat i
onhast akenplace.Forexample,t he
generalmanagerofacompanyi sr esponsi
blef orreceivi
ngt hel eaveappl i
cati
onf orthewhol eoft he
concern.Thegener almanagerdelegatest hi
swor ktot heper sonnelmanagerwhoi snow responsi
blef or
recei
vingtheleav eappl i
cant
s.Int hissit
uationdelegationofaut horit
yhast akenplaceImpli
cati
onsof
Decentral
i
zati
on
1.Ther
eisl
essbur
denont
heChi
efExecut
iveasi
nthecaseofcent
ral
i
zat
ion.
2.Indecentr
ali
zati
on,
thesubordi
natesgetachancet
odecideandacti
ndependent
lywhi
chdev
elopsski
l
ls
andcapabi
l
iti
es.Thi
swaytheorganizat
ioni
sabletopr
ocessreser
veoft
alent
sinit
.
3.I
ndecent
ral
i
zat
ion,
div
ersi
fi
cat
ionandhor
izont
alcanbeeasi
l
yimpl
ant
ed.
4.I ndecentr
ali
zat
ion,concerndiv
ersif
icat
ionofacti
vit
iescanpl
aceef
fecti
vel
ysi
ncet
her
eismor
escope
forcreat
ingnewdepartments.Theref
ore,di
versi
fi
cat
iongrowthi
sofadegree.
5.Indecentr
ali
zat
ionst
ruct
ure,oper
ati
onscanbecoor
dinat
edatdi
vi
sionall
evelwhi
chi
snotpossi
blei
n
thecent
ral
i
zat
ionsetup.
6.I nthecaseofdecentral
i
zati
onstruct
ure,ther
eisgr
eat
ermot
ivat
ionandmor
aleoft
heempl
oyeessi
nce
theygetmoreindependencetoactanddecide.
Whati
sMot
ivat
ion?Pr
imar
yneedsandsecondar
yneeds?
Moti
v at
ionisapsy chol
ogicalf
eat
urethatarousesanorgani
sm t
oactt owar
dsadesi r
edgoalandelicit
s,
cont
rols,andsustai
nscertai
ngoaldi
rectedbehavi
ors.I
tcanbeconsi
deredadrivi
ngfor
ce;apsychol
ogical
onethatcompel sorrei
nforcesanacti
ont owar
dadesi r
edgoal
.Forexample,hungeri
samot i
vati
ont hat
el
ici
tsadesiretoeat.
Mot i
vat
ionisani nnerdri
vetobehaveoractinacert
ainmanner.I
t'
sthediff
erencebetweenwakingup
beforedawnt opoundt hepavementandl
azi
ngaroundthehouseal
lday.Theseinnercondi
ti
onssuchas
wishes,desi
res,
goals,act
ivat
etomoveinapar
ti
cul
ardir
ect
ioni
nbehavi
or.
Motivationist
hedr
ivi
ngforcebywhi
chhumansachiev
etheirgoal
s.Moti
vat
ionissai
dt obeintr
insi
cor
ext
rinsic.Thet
ermi
sgenerall
yusedf
orhumansbuti
tcanalsobeusedtodescri
bethecausesforani
mal
behavioraswell
.
Pr
imar
yandsecondar
yneeds
Mur
rayi
dent
if
iedneedsasoneoft
wot
ypes:
Pr
imar
yNeeds
2. Pr
imar
yneedsar
ebaseduponbi
ologi
cal
demands,
suchast
heneedf
oroxy
gen,
food,
andwat
er.
Secondar
yNeeds
4. Secondar
yneedsar
egener
all
ypsy
chol
ogi
cal
,suchast
heneedf
ornur
tur
ing,i
ndependence,and
achi
evement.
Theor
yX
Inthistheory,whichhasbeenpr ov encount er
-eff
ecti
vei nmostmodernpracti
ce,managementassumes
empl oy
eesar einherent
lylazyandwi llavoidwor kiftheycanandthattheyinherent
lydisl
ikewor k.Asa
resultoft hi
s,managementbel i
evest hatwor kersneed to beclosel
ysupervised and comprehensive
systemsofcont rol
sdev el
oped.Ahi er
archicalstr
uctur
ei sneededwi
thnarr
owspanofcont rolateachand
everylevel
.Accor dingtot hi
stheory,empl oyeeswi l
lshow lit
tl
eambit
ionwi t
houtanent ici
ngi ncent
ive
program andwillavoidr
esponsibi
l
itywhenev ertheycan.
Theor
yY
Inthi
st heory
,managementassumesempl oyeesmaybeambi ti
ousandsel f-
mot iv
atedandexer ciseself
-
contr
ol.Itisbel
ievedthatemployeesenjoyt heirmentalandphy sicalworkduties.Accordi
ngtoPapa,t o
them workisasnat ur
alasplay.Theypossesst heabili
tyforcreati
veproblem solvi
ng,butthei
rtalentsare
underusedinmostor gani
zat
ions.Giventhepr opercondit
ions,theoryYmanager sbeli
evethatempl oyees
willl
earnt o seek outand acceptr esponsibil
i
ty and to exercise sel
f-
controland self-
dir
ect i
on in
accompl i
shi
ngobjecti
vestowhichtheyarecommi tt
ed.
Whati
sOr
gani
zat
ion:
Anor
gani
zat
ionoror
gani
zat
ion(
seespel
l
ingdi
ff
erences)i
sanent
it
y,suchasani
nst
it
uti
onoran
associ
ati
on,
thathasacollect
ivegoalandisli
nkedtoanext
ernal
envir
onment
.Thewordi
sder
ivedf
rom t
he
Greekwordorganon,
itsel
fderi
vedfrom thebett
er-
knownwordergonwhi
chmeans"or
gan"
.
Ther ear eav ari
etyofl egal t
y pesofor ganizations,i
ncludingcor porati
ons,gov ernment s,non-governmental
organi zations, i
nternat ionalor ganizati
ons,armedf orces,chari
ti
es, not-
for
-prof i
tcor por at
ions,part
nerships,
cooper at
ives, universities,andv ari
oustypesofpol i
ticalorgani
zat i
ons.Ahy bridor ganizat i
onisabodyt hat
oper atesi nbot hthepubl i
csect orandt hepr ivatesectorsimultaneously,ful
fil
lingpubl icdut i
esand
dev elopingcommer cial mar ketact i
vi
ti
es.Av olunt
ar yassociat
ioni sanorganizat ionconsi sti
ngof
volunt eers.Suchor gani zationsmaybeabl et ooper atewithoutlegalformali
t i
es, dependi ngonj uri
sdict
ion,
i
ncludi ngi nformal clubs.Or gani zati
onsmayal sooper ateinsecr etand/oril
legallyint hecaseofsecr et
soci eti
es, cri
mi nalor gani zationsandr esistancemov ement s.
Q.whymanagementi
sessent
ial
foranyor
gani
zat
ion?
ImportanceofManagement :Per
sonalmanagementenabl esallpersonsintheenter
prisetocontri
but
emost
eff
ectivel
ytoit
spurposei ntheperf
ormanceoft heirduti
es.I
tpromot esindi
vi
dualdevelopmentand
encouragesmut ual
conf i
denceandunder -
standi
ngbet weentheempl oyeesandempl oyers.I
tthusat
tai
ns
personalandsocialsat
isfact
ionwhichtendsnaturall
ytoseekwi t
hintheirworki
ngenv i
ronment.

Itpr
ovi
desaninvi
sibl
eframeworkbywhi chvar
iousindi
vidual
sar efi
tt
edint
oanef fecti
veteam.Personal
managementisalsoconcer
nedwi t
hassigni
ngauthorit
yandr esponsi
bil
i
tytoindiv
idualswit
hav i
ewt o
communicat
ingbetweenexpert
satv ar
iousl
evels,
andt oenforci
ngaccountabil
i
ty.Ithel
psmakepossi bl
e
thel
argeandeff
ectiv
eaggregat
ionsofemployeesweknowt oday .

Ifper
sonalmanagementi stofuncti
oncorr
ectl
y,t
heper sonalexecuti
vecanr educedisagreementsthat
ari
seregar
dinghisplaceont hecompanyteam butalsocanhelpi nst
ructothersontheirl
ogical
personal
duti
esandrelat
ionships.Per
sonalmanagementisnotconf i
nedt oindustr
iesbutithasalsoequal
i
mpor t
anceinallty
pesofof f
iceslabor
ator
ies,
nonprofi
tinsti
tut
ionandar medser vi
ces.

InthewordsofanAmer i
canexpertinmanagement"Managementi st
hedev el
opmentofpeopl
eandnott he
dir
ecti
onoft hi
ngs".Sopersonalmanagementi
sgeneral
lyconcernedwiththepromoti
onandsimulat
ionof
everyemployeetomakehi sfull
estcont
ri
but
iont
ot heat
tai
nmentoft heobject
ivesoft
heenter
pri
se,thati
s
whypersonal managementhasi nmodernti
mesbecomet heprimaryresponsi
bil
it
yofeachandal
l
managers,regardl
essoftheirar
easofwork.
Expl
ainChar
act
eri
sti
csgoodmanagement
?
1.Managementasacont
inuouspr
ocess:
Managementcanbeconsi der
edasapr ocessbecauseitconsi
stsofpl
anning,
organi
zi
ng,act
ivat
ingand
cont
rol
li
ngtheresources(per
sonnelandcapit
al)ofanorgani
zati
on.Sotheyar
eusedt ot
hebestadvant
age
i
nachievi
ngtheobjecti
vesoftheorgani
zati
on.
Noneofthemanager
ial
funct
ionswoul
dproducetheul
ti
mat eresul
tsint
heabsenceofal
lot
herbasi
c
f
uncti
ons.Hencewecansaythatmanagementi
sacontinuousprocess.
2.Managementasadi sci
pli
ne:
Sincetheboundari
esofmanagementar enotexactast hatofanyot
herphysicalsci
ences,i
tmaynotf i
tin
verywellf
orbeingaddressedasdiscipl
i
ne.Howev er,
itsstatusasadisci
pli
neincreasesbecausei
t
conti
nuouslydi
scoversmanyaspect sofbusinessenterpri
sesandal
sopassesont heveri
fi
edknowledgeto
thepracti
ti
oner
soft hemanagerialpr
ocess.
3.Managementasacar eer
:
Asacar eeroroccupat
ion, managementisabr oadconcept
-Managementitsel
fcanberegar
dedasacareer
,
buti
talsopresentsavarietyofinter
est
ingandchallengi
ngcar
eer
sf ocusedonspeci
ali
zedoccupat
ionsi
n
thef
iel
dssuchasmar keting,f
inanceandpersonnel
.
4.ManagementasanAppl
i
edSci
ence:
Eventhoughmanagementisasci
encesof arasi
tpossessesasystemati
zedbodyofknowl
edgeanduses
sci
enti
fi
cmethodsofresear
ch,i
tisnotanexactsci
ence,l
ikenat
uralsci
enceswhi
chdealwi
thli
vi
ng
phenomenasuchasbotanyandmedicine.
Hence,managementi
sdefi
nit
elyasocialsci
enceli
keeconomi
csorpsy
chol
ogyandhast
hesame
i
nsti
tut
ionswhicht
heseandothersoci
alscienceshav
e.
5.Uni
ver
sal
Appl
i
cat
ion:
Managementi
sauni
ver
sal
act
ivi
ty,
appl
i
edt
oanyf
orm ofact
ivi
ty,
economi
corot
her
wise.
6.Goal
Ori
ent
ed:
Managementhasthetaskofatt
ainingcer
tai
nobject
ives.Thesuccessorfai
l
ureofthemanagement
dependsonhowfariti
sabletoattaint
hedesir
edgoals.Iti
sjudgedbytheextentt
owhichi
tachi
evesi
ts
tar
gets.
7.Gui
dance:
Themai nt
askoft hemanagementi
sguidanceintheut i
l
izat
ionofmateri
alandhumanresourcesi
nthebest
possibl
eway.Throughopti
mum uti
l
izat
ionofresources,i
thastoensurethattheobj
ect
ivesareat
tai
ned.
Theessenti
alel
ementofmanagementist hati
tgetsthewor kdonebycoordinat
ingt
heperfor
manceof
thosewhoactual
lyperf
orm di
ver
seandspeci f
icj
obs.
8.Di
vor
cedf
rom pr
opr
iet
orshi
p:
Managementdoesnotsi
gni
fypr
opr
iet
orship.I
nearl
ierday
s,managementandent
erpr
isewer
elumpedi
nto
thesamef
actor.I
tnowref
erst
oaspecial
izedgroupofpeopl
ewhohaveacquir
edtheabil
i
tyt
ocarr
youta
proj
ect
.
9.Anact
ivat
ingf
act
or:
Managementi sthefactorwhichactivat
esot herfactorsofproducti
on.Amanager '
sskil
l l
i
esi nmot
ivat
ing
hi
sworkersthroughguidance, t
rai
ning,i
ncent i
ves, r
ewards,stat
us,securi
ty,
control,
etc.Soamanger s'
abi
li
tyl
iesi
nt hefactthatheisablet omotivateot herstoapplythei
rskil
ltothebestadv antageoft
he
ent
erpr
isei
nt heaccompl ishmentofitsobjectives.
10.
Managementi
sahumanact
ivi
ty:
Managementfunct i
onsar
edi
schar
gedonlybyi
ndivi
dual
s.Nocorpor
atebodyoranar
ti
fi
cial
beingcan
perf
ormthewor kofamanagement.Al
thoughi
tisanact
ivi
tywhi
chmaybeper f
ormedbyanindiv
idual
it
cannotbeseen.Itcanonl
ybef
elt
.

Q.Def i
neConcept ,pr i
ncipl
eandt heory?
Concept :Aconcepti sanabst ractionorgener al
izati
onfrom experi
enceort heresultofat r
ansformat i
onof
existingconcept s.Theconceptr eifi
esallofit
sact ualorpotenti
alinstanceswhet herthesear ethingsint
he
real worldorotheri deas.Concept sar etr
eatedinmanyi fnotmostdi scipl
ineswhet herexplici
tl
ysuchasi n
psy chology,phil
osophy ,etc.orimpl i
citl
ysuchasi nmat hemat i
cs,physics,etc.I
nmet aphysics,
and
especi al
lyontology, aconceptisaf undament al
cat egor
yofexistence.Incont empor aryphil
osophy ,t
here
areatl eastthreepr evail
i
ngway st ounderstandwhataconcepti sConcept sasment alrepresentati
ons,
wher econcept sar eentiti
esthatexi stinthebrai
n.

 Concept
sasabi
li
ti
es,whereconceptsar
eabil
i
tiespecul
i
artocogni
ti
veagents.
 Concept
sasabst
ractobj
ects,whereobj
ect
saretheconsti
tuent
sofproposi
ti
onst
hatmedi
ate
betweenthought,language,andrefer
ent
s.
Aprincipleisalaworr ul
et hathastobe,orusual
lyistobefol
lowed,orcanbedesirabl
yfoll
owed,orisan
i
nevitableconsequenceofsomet hi
ng,suchasthel awsobser
vedinnatureorthewaythatasy st
em is
constructed.Theprinci
plesofsuchasy stem ar
eunder st
oodbyitsuser
sast heessent
ialchar
acter
ist
icsof
thesy st
em, orrefl
ecti
ngsy stem'
sdesignedpurpose,andtheeff
ecti
veoperati
onoruseofwhi chwouldbe
i
mpossi bleifanyoneoft hepr i
nci
pleswast obeignored.
Exampl esofprinci
ples:
 De scri
ptiv
ecompr ehensi
veandfundament all
aw,doct
ri
ne,orassumpt i
on
  Normat
iverul
eorcodeofconduct
 Laworfactofnat
ureunder
lyi
ngthewor
kingofanar
ti
fi
cial
dev
ice

Theoryisacont emplat
iveandr ationaltypeofabstractorgeneral
izingthi
nki
ng,ort heresul
tsofsuch
thi
nking.Dependingont hecontext,theresult
smightforexamplei
ncludegeneral
izedexplanati
onsofhow
natureworks.Thewor dhasi t
sr ootsinancientGreek,buti
nmoder nusei thastakenonsev er
aldi
ff
erent
rel
atedmeani ngs.Atheoryi
snott hesameasahy pothesi
s.Atheor
ypr ovi
desanexplanator
yframeworkfor
someobser vati
on,andfrom t
heassumpt ionsoft
heexplanati
onfol
l
ows.
FOUNDATI
ONSOFTHEMANAGEMENT
ASASCIENCEPERSPECTI
VE
Practici
ngmanager swhobel i
eveinmanagementasasci encear elikelytobeli
evethattherearei deal
manager ialpracticesforcer tainsit
uat i
ons.Thati s,whenf acedwi thamanager i
aldil
emma,t hemanager
whobel i
evesi nthesci entifi
cf oundationofhi sorhercr af
twi llexpectthatther
eisar at
ionalandobjectiv
e
wayt odet erminet hecor rectcourseofact i
on.Thi smanageri sl i
kelytofoll
ow generalpri
nci
plesand
theoriesandal sobycr eatingandt est i
nghy potheses.Fori nstance,ifamanagerhasapr obl
em wi t
han
empl oyee'spoorwor kper formance, themanagerwi lllooktospeci f
icmeansofper formanceimprovement ,
expect i
ngt hatcer t
ainpr incipleswillwor kinmostsi tuati
ons.Heorshemayr el
yonconcept slearnedin
businessschoolort hroughacompanyt raini
ngpr ogr am whendet er
mi ni
ngacour seofact i
on,perhaps
payinglessat tenti
ont opol iti
calandsoci alfactor
si nv olvedint hesituati
on.

ASANARTPERSPECTI
VE
Practici
ngmanager swhobel i
evei nmanagementasanar tareunl i
kelyt obelievethatscienti
fi
cpr i
ncipl
es
andt heorieswillbeabl etoi
mpl ementedinactualmanagerialsi
tuati
ons.I nstead,thesemanager sar
elikely
torelyont hesocialandpolit
icalenvi
ronmentsurroundi
ngthemanager ialissue,usingthei
rownknowl edge
ofasi tuation,r
athert hangenericrul
es,todet
ermi neacourseofact ion.Forexampl e,asacont r
asttothe
exampl egi venpr evi
ously,amanagerwhohasapr obl
em wi thanempl oyee'
spoorwor kper formancei s
l
ikelytor elyonhi sorherownexper i
encesandjudgmentwhenaddr essi ngt hi
sissue.Ratherthanhav inga
standardr esponset osuchapr oblem,thi
smanageri sli
kel
yt oconsiderabr oadrangeofsoci alandpoliti
cal
factors,andi sl
ikelytotakediff
erentacti
onsdependingonthecont extoft hepr obl
em.
Q.st
atedi
ff
erencebet
weenEnt
repr
eneurandEnt
repr
eneur
?

Ans.Entrepr
eneurshipist hepr ocessofst art
ing abusinessorot herorgani
zati
on.Theentrepreneur
devel
opsabusi nessmodel,acqui r
est hehumanandot herrequi
redresour
ces,andisful
lyr
esponsiblefor
i
tssuccessorfail
ure.Ent
repreneurshipoperat
eswithi
nanent r
epr
eneurshi
pecosystem.

On t he otherhand ent repreneur,to mean "A per

son wit
hinal arge corporati
on who t akes di
rect
responsi bi
l
ityfort ur
ning an idea int
o a prof
itabl
efini
shed pr
oductt hr
ough asser t
iverisk-
taki
ng and
i
nnov ation"[
cit
ati
onneeded] .Intrapr
eneurshi
pisnow knownast hepr acti
ceofacor poratemanagement
styl
et hatintegr
ates risk-
taki
ng and innovati
on appr
oaches,as wel las the r eward and mot i
vati
onal
techniques,thataremor etradi
tional
lyt
houghtofasbeingtheprovinceofentrepreneurshi
p.

Anentr
epreneuri
saf act
ori
nmicr
oeconomics,andthest
udyofent
repr
eneur
shipreachesbacktothework
i
nthelate17thandear l
y18t
hcentur
iesofRichar
dCanti
ll
onandAdam Smith,whichwasf oundat
ionalt
o
cl
assi
caleconomics.

Ontheot herhand,“
Intr
apr
eneurshi
prefer
st oemploy
eei ni
ti
ati
vesinorganizat
ionstoundert
akesomet hi
ng
new,withoutbeingaskedtodoso. "[
5]Hence,theentr
epreneurfocusesoni nnovati
onandcr eat
ivi
ty,and
tr
ansformsani deaintoaprofi
tabl
eventure,whi
leoperati
ngwi t
hintheorganizat
ionalenv
ironment.Thus,
entr
epreneursareI
nsideent
repr
eneurswhof ol
lowthegoaloftheorganizat
ion.

Ent
repr
eneur
ialact
ivi
ti
esdi
ff
ersubst
antiall
ydependi
ngonthetypeoforgani
zat
ionandcr
eativ
ityinvol
ved.
Ent
repr
eneur
shiprangesi
nscal
efrom solo,par
t-
ti
meproj
ectst
ol ar
ge-
scal
eundert
aki
ngsthatcreatemany
j
obs.Many"highval
ue"entr
epreneuri
alvent
uresseekv
ent
urecapi
tal
orangel
fundi
ng(
seedmoney
)inor
der
t
oraisecapi
talf
orbuil
dingthebusiness.

Ont heot
herhand, I
ntrapreneurshipisanexampl eofmot i
vati
ont hroughjobdesign,ei
therf
ormallyor
i
nformall
y.(SeealsoCor porateSocialEntrepr
eneurshi
p:int
rapreneurshi
pwi thi
nthefir
m whichisdrivento
producesocialcapi
talinadditi
ont oeconomi ccapit
al.
)Employees, suchasmar keti
ngexecuti
ves[6]or
perhapsthoseengagedi naspeci alprojectwit
hinalar
gerfir
m, areencour agedtobehaveasentrepreneur
s,
eventhought heyhavether esources,capabil
i
tiesandsecuri
tyoft helar
gerf i
rmtodrawupon.

Q.def
iner
ecr
uit
mentandsel
ect
ion?

Ans.Recrui
tmentref
erstotheoveral
lpr
ocessofattr
acting,sel
ectingandappoint
ingsui
tablecandi
dat
esf
or
j
obswi t
hinanorgani
sati
on,eit
herpermanentort
empor ary.Recr
uitmentcanalsorefert
oprocesses
i
nvolvedinchoosi
ngindi
vidual
sforunpai
dpositi
ons,suchasv oluntar
yrol
esort r
aini
ngprogrammes.

Recruit
mentmaybeunder takenin-
housebymanager s,humanresour
cegener al
istsand/
orr
ecrui
tment
special
ist
s.Alt
ernat
ivel
y,partsoftheprocessmaybeunder t
akenbyeitherpubli
c-sect
orempl
oyment
agencies,commerci
al r
ecruit
mentagencies,orspeci
ali
stsear
chconsultanci
es.

Theuseofinter
net-
basedser
vicesandcomput
ert
echnol
ogi
est
osuppor
tal
laspect
sofr
ecr
uit
mentact
ivi
ty
andprocesseshasbecomewidespread.

Inthecontextofevoluti
on,certai
ntrait
soral l
elesofgenessegr egatingwi thi
napopul ati
onmaybesubj ect
toselecti
on.Underselecti
on,indi
vidualswithadv antagesor" adapti
ve"t r
aitstendtobemor esuccessf ul
thantheirpeer
sreproductivel
y—meani ngtheycont ri
but emor eoffspringtot hesucceedinggenerat
iont han
other
sdo.Whent heset r
ait
shav eagenet i
cbasi s,selecti
oncani ncreaset heprevalenceofthosetrai
ts,
becauseof f
spri
ngwi l
linheri
tthosetrait
sfrom t hei
rpar ent
s.Whensel ecti
oni sint
enseandper si
stent,
adaptivetr
ait
sbecomeuni ver
saltothepopul ationorspeci es,whichmayt henbesai dtohaveevolved.

Q.di
scusst
hest
epsofsel
ect
ionpr
ocess?

Ans.St
epsi
ntheSel
ect
ionPr
ocess

St
ep1:
Studyandknowaboutempl
oymentl
awst
hataf
fectt
hesel
ect
ionpr
ocess.

Step2: Conductapositionanaly
sis.Lear
nev eryt
hingpossibl
eaboutthejob(pr
ocesses,perf
ormance
factors,worki
ngconditi
ons,etc.
)todeterminewhatt heessenti
alf
uncti
onsareandwhati srequiredi
n
termsofknowl edge,skil
lsandpersonalt
raitstoperfor
mt heposit
ion'
sduti
essati
sfactor
il
y.Thisstepis
cri
tical,
asitlayst
hegr oundworkforthefoll
owingsteps.(Fori
nfor
mat i
ononconductingapositionanal
ysi
s,
refertothechapteronThePosi ti
onDescripti
on.)

I
denti
fyandpr
eparei
ndetai
ltheminimum qual
i
ficati
onsr
equi
redfort
heposi
ti
on.Prepar
eacurrent
posi
ti
ondescr
ipt
ionf
ort
hev acantposi
ti
onorverif
ythatt
heexi
sti
ngposi
ti
ondescri
pti
oniscur
rent.

St
ep3:
Prepar
eappl
i
cat
ionscr
eeni
ngcr
it
eri
aandi
ssueav
acancyannouncement
.

Step4:Pr
epar
equest
ionsandscr
eeni
ngcr
it
eri
afort
hesel
ect
ioni
nter
view.(
Ref
ert
oTheI
nter
viewchapt
er
andthe

St
ep5: Scr
eenappl
i
cat
ionsand,
ifnecessar
y,conducti
nit
ial
scr
eeni
ngi
nter
view,
basedonest
abl
i
shed
cr
it
eri
ain

St
ep4:
abov
e.Sel
ectt
het
op-
ranki
ngi
ndi
vi
dual
sfori
nter
viewi
ng.

Ther
ear
e14Pr
inci
plesofManagementdescr
ibedbyHenr
iFay
ol.
1.Di
vi
sionofLabor

a.Henr
yFay
olhasst
ressedont
hespeci
ali
zat
ionofj
obs.

b.Her
ecommendedt
hatwor
kofal
lki
ndsmustbedi
vi
ded&subdi
vi
dedandal
l
ott
ed

t
ovar
iousper
sonsaccor
dingt
othei
rexper
ti
sei
napar
ti
cul
arar
ea.

c.Subdi
vi
sionofwor
kmakesi
tsi
mpl
erandr
esul
tsi
nef
fi
ciency
.

d.I
tal
sohel
pst
hei
ndi
vi
dual
inacqui
ri
ngspeed,
accur
acyi
nhi
sper
for
mance.

e.Speci
ali
zat
ionl
eadst
oef
fi
ciency&economyi
nspher
esofbusi
ness.

Leaderv
ersusManager

“
Leader
shi
pandmanager
shi
par
etwosy
nony
moust
erms”i
sani
ncor
rectst
atement
.

Leadershipdoesn’tr
equireanymanageri
alpositi
ontoactasal eader
.Ontheotherhand,amanagercanbe
atruemanageronl yifhehasgott het
rai
tsofleaderi
nhim.Byv i
rtueofhi
sposit
ion,managerhastoprovi
de
l
eadershipt ohisgr oup.A managerhast operfor
m allfi
vef uncti
onstoachievegoals,i.
e.,Planni
ng,
Organizi
ng,Staff
ing,Direct
ing,andControl
l
ing.Leader
shi
pisapar tofthesefuncti
ons.Leadershi
pasa
generalter
mi snotrelat
edtomanagership.Apersoncanbeal eaderbyvi
rt
ueof

qual
it
iesinhim.Forexample:l
eaderofaclub,class,
welfar
eassociati
on,
socialorganizat
ion,etc.Theref
ore,
i
tistruet osaythat,“Al
lmanager sareleader
s,butallleadersarenotmanager s.”Al eaderisonewho
i
nfl
uencest hebehaviorandwor kofothersingroupeffort
st owar
dsachievementofspeci f
iedgoal sina
gi
vensituati
on.Ontheotherhand,managercanbeat r
uemanageronl yi
fhehasgott rai
tsofleaderinhim.
Manageratal ll
evel
sar eexpectedtobet heleadersofwor kgroupssot hatsubordinateswi l
li
nglycarr
y
i
nstr
ucti
onsandacceptt hei
rguidance.

Ans.For
malorgani
zat
ionisafixedsetofr ul
esofint
ra-organi
zat
ionproceduresandst r
uctures.Assuch,it
i
susuall
ysetoutinwri
ti
ng,wit
hal anguageofr ul
esthatostensi
blyl
eavelitt
ledi
screti
onfori nt
erpr
etat
ion.
I
nsomesoci et
iesandinsomeor ganizat
ions,suchrulesmaybest ri
ctl
yf oll
owed;inothers,theymaybe
l
it
tl
emor et
hananempt yfor
malism.

Ont heotherhandThei nformalor ganizat

ionistheinter
locki
ngsocialstructuret hatgover
nshow people
workt oget
herinpract
ice.Itist heaggr egateof,norms,personalandpr ofessionalconnecti
onsthrough
whichwor kgetsdoneandr elat
ionshipsar ebuil
tamongpeopl ewhoshar eacommonor gani
zational
aff
il
iati
onorclust
erofaf f
ili
ati
ons.I tconsist
sofady nami csetofpersonalrelationshi
ps,soci
alnet
wor ks,
communi ti
esofcommoni nter
est,andemot i
onalsour
cesofmot ivat
ion.Thei nformalorgani
zati
onevolves,
andt hecompl
exsocialdynami csofi t
smember salso.

Whati
sLeader
shi
p?Leader
shi
pTr
ait
s?
Leadership,ingener al
,refer
st otheabi li
tytogui deandi nf
luenceindivi
dualsorgr oupst owardsashar ed
visi
onorgoal .Itinvol
vesinspir
ingandmot iv
atingothers,makingsounddeci sions,andeffecti
vel
ymanagi ng
resources.Agoodl eadersetsacl eardirect
ion,communi cateseffecti
vel
y,empower sthei
rteam, andleads
byexampl e.Theypossessi ntegri
ty,strongcommuni cati
onski l
l
s,adaptabil
ity,andtheabi l
it
yt obuil
dand
nurtur
ecohesi v eteams.Leader shipisnotl imitedtoaspeci f
icsectorori ndustrybutencompassest he
fundament alqual i
ti
esandact ionst hatdriveindivi
dualsandor ganizat
ionst owardssuccessandposi ti
ve
change.
Leader
shi
pTr
ait
s:
Leader
shi
ptr
ait
sar
ethei
nher
entqual
i
ties,char
act
eri
sti
cs,andbehav
ior
sthatcont
ri
but
eto ef
fect
ive
l
eadership.Thesetrai
tshel
pleader
sinspir
e,i
nfl
uence,andgui
deot
herstowardsachi
evi
ngcommongoals.
Whil
el eadershi
ptrait
scanvaryamongi ndi
vi
duals,t
herear
esever
alkeytrai
tscommonlyassoci
atedwi
th
ef
fect
iv eleader
s:
1.I
ntegr
it
y:Leader
swi
thst
rongmor
alv
aluesandet
hical
pri
nci
plesgai
ntr
ustandr
espectf
rom ot
her
s.
2.Conf
idence:
Displ
ayi
ngsel
f-
assur
anceandbel
i
efi
nthei
rabi
l
iti
esi
nspi
resconf
idencei
nteam member
s.
3.Emot
ionalIntel
l
igence:Leader
s who under
stand and manage emot
ions ef
fect
ivel
ypr
omot
e bet
ter
communicat
ionandempat hywi
thi
ntheteam.
4.Deci
siv
eness:
Maki
ngt
imel
yandwel
l
-inf
ormeddeci
sionshel
pskeept
hingsmov
ingf
orwar
d.
5.Vi
si
onar
y:Leader
swi
thacl
earv
isi
oncani
nspi
reandmot
ivat
eot
her
stowor
ktowar
dsacommongoal
.
6.Communi
cat
ion:
Str
ongcommuni
cat
ionski
l
lsenabl
eleader
stoexpr
essi
deascl
ear
lyandl
i
stenact
ivel
y.
7.Adaptabi
li
ty:Bei
ng open t
o change and embr
aci
ng new i
deas hel
ps l
eader
s nav
igat
e chal
l
enges
successf
ull
y.
8.Account
abil
i
t y
:Takingr
esponsi
bil
i
tyf
oract
ionsandhol
dingonesel
fandot
her
saccount
abl
eleadst
o
tr
ustandrel
iabil
i
ty.
9.Empathy
:Under
standi
ngandconsi
der
ingt
hef
eel
i
ngsandper
spect
ivesoft
eam member
sfost
ersa
posi
ti
vewor
kenvir
onment
.
10.Resi
li
ence:Bounci
ngbackf
rom set
backsandmai
ntai
ningaposi
ti
veat
ti
tudei
nspi
resot
her
sdur
ing
chal
l
engingti
mes.
These tr
ait
s contr
ibutet o effect
ivel
eader
shi
p by est
abl
i
shi
ng t
rust
,inspi
ri
ng ot
her
s,pr
omot
ing
col
labor
ati
on,anddr
ivingsuccess.

Al
lmanageri
sleaderbutal
ll
eaderi
snotmanager-Pl
easeexpl
ain:
I
nt hebankingsect
orofBangladesh,i
tistruethatal
lmanagersar econsi
der
edleader
s,astheyare
responsi
blef
orgui
dingandov
erseei
ngthei
rteams.However
,notal
lleader
sinthi
ssect
orholdmanager
ial
posit
ions.
Manager
sinbankshav eformalauthor
it
yandar etaskedwi thadmini
str
ati
ver esponsi
bil
i
ties,suchas
over
seei
ngoperat
ions,set
ti
ngtarget
s,andmaki ngdecisi
ons.Theyareexpect edt oleadt hei
rteams
towar
dsachi
evi
ngorgani
zati
onal
goalsandensur
ingef
fi
cientfunct
ioni
ngofthebank.
Ont heotherhand,leadershi
pcanemer gef r
om indivi
dualsatv ar
iousl
evel
swi t
hinthebank,regar
dlessof
theirmanageri
altit
le.Theseinfor
malleadersmaynothav ef or
malauthor
it
ybutpossessqualiti
essuchas
strongcommuni cati
on,visi
on,andtheabil
it
ytoinspireothers.Theymayinfl
uencethei
rcoll
eaguesort eam
member sthroughtheirexpert
ise,
experi
ence,orpersonaltr
aits.
Inthebankingsector,non-managerialleader
scanbef oundamongcust omerser vi
cer epr
esentati
ves,
fi
nanci
aladvi
sors,
ortechnicalexper
ts.Theirabil
i
tyt
ogui
deandinspir
eothers,
contri
buteinnovat
iveideas,
andposit
ivel
yinfl
uencethewor kenv i
ronmentmakesthem l
eaders,ev
enwi thoutholdi
ngamanager ial
posi
ti
on.
Recognizi
ngandnurtur
ingbot
hformalandi
nformall
eadersinthebankingsect
orcanhel
pcr eat
eacul
tur
e
ofsharedleader
shi
p,wherei
ndi
vi
dual
satall
level
scontr
ibutetothesuccessoft
heorgani
zat
ion.