Professional Documents
Culture Documents
Chopra
Human Activities:
We participate in different
activities from morning till night.
There are 2 types of human
activities:-
1. Economic Activities
2. Non-economic Activities.
Economic Activities
1. Business
2. Profession
3. Employment
Non Economic Activities
1. Religious
2. Social
3. Parental
4. Patriotic
5. Hobbies
to satisfy social, psychological or emotional
needs.
Business
Busi+ness: A state of being busy.
It is an economic activity whose main motive or
aim is to earn profit.
A business activity involves production, trading
(buying/selling), exchange of goods and/or
services to earn profit or earn livelihood.
You are the Entrepreneur.
Capital is required.
Risk or uncertainty is involved.
No qualification required.
No code of Conduct.
2. Profession
It is an occupation involving the provision of
personal services of a specialised and expert
nature.
Qualifications and special skills are required.
Some capital is required.
Registration as Professional and/or
Membership of Professional Body.
Charge Professional Fee.
Professional code of conduct.
3. Employment
Working under a contract of employment or
under Employer for salary or wages.
Appointment letter or service agreement is
required.
No capital required.
Job Specifications and job description/Job
Profile are defined.
Code of conduct is there.
5 Factors/Inputs/Resources of Management are: 5 Ms
Money
Manpower
Material
Machines
Methods
MANAGE - MEN -T “T” stands for
The functions of Management are
Planning,
Organising,
Staffing,
Directing and
Controlling
the resources of an organisation in efficient and effective
manner for achieving the specified organisation’s goals and
objectives.
Management is a process:
Inputs/Resources Output
Men Products
Money Services
Material/Energy Achievement of specified
objectives
Methods
Information resources Information output
1. Conditions of work
2. Working conditions
3. Job Description (JD)or Job Profile
4. Job Specifications
5. 3 “Rs”
6. 3 “Fs”.
7. 3 “Ms” in Court Cases
8. P = Private Sector Vs. Public
Sector
Job Description or Job Profile is a written
statement showing details of the job.
Generally, a job description contains the
following information:
1. Job Title, Code Number, Department.
2. Job Contents.
3. Job responsibilities towards effective
performance of the job.
4. Working conditions specifying specific hazards.
5. Social environment prevailing at the workplace.
6. Extent of supervision given and received.
7. Machine tools and equipment to be handled.
8. Relationships with the other jobs.
It is a statement of minimum acceptable qualities required in a
job incumbent for the effective performance of the job.
In contrast to job description, job specifications provide various
features of the job holder. A job specification is prepared on
the basis of job description.
The contents are:
1. Personal characteristics such as sex, age, education and may be
extra curricular activities.
2. Physical characteristics such as height, weight, chest, vision,
hand and foot coordination, etc.
3. Mental stability of the person.
4. Sociological and psychological characteristics such as emotional
stability, flexibility, manners, initiative, etc
Business Organisations
Private Sector Public Sector Cooperative Sector
5. Raises deposits privately only from May raise deposits from Public as
its members well
6. Shares are not transferable except Shares are freely transferable & may
for the provisions in the Articles be even quoted on Stock Exchange
8. The word “Private Limited” is added The word “Limited” is added to the
to the Company’s name Company’s name
Government Company
Any Company in which not less than 51% of Paid-
up share capital is held by the Central
Government or any State Government or
Governments or partly by one or more State
Governments.
Statutory Companies
Created by an Act of Parliament.
Cooperative Society
The Societies Registration Act, 1860 is a
legislation in India which allows the registration
of entities generally involved in the benefit of
society - education, health, employment, etc
Type Manufacturing Enterprises No. of Service
Ceiling on investment in employees in Enterprises
plant & machinery Manufacturing Ceiling on
investment on
equipment
Micro 25 lakhs 10 or less 10 lakhs
(between 5 lakhs to 25
lakhs)
Small 5 Crores 50 or less 2 Crores
(between 25 lakhs to 5
crores)
Medium 10 Crores 250 or less 5 Crores
(between 5 Crores to 10
Crores)
Ignorantia Juris Non Excusat (latin)
Ignorance of Law is no excuse
All citizens to have knowledge of Law
No society can exist without law.
For Citizens : It is set of Rules
For Engineers/Officers/Professionals : To
comply with the Laws
For Lawyers/Advocates : It is a profession
For Legislators: Law created by them
For Judges : Take decisions based on facts
presented/evidences adduced.
The Law is set of Rules & Regulations
made by the Government that governs
the way members of a society act
towards one another i.e. regulating
our relations with other individuals
and with the Government.
Laws are those principles applied by
the State (Government either Central
or State) in the administration of
justice.
President
for Assent & Gazette
Notification
Industrial Employer
Employers
Relations Associations
NOTE : Acts in Blue colour are in the course contents of Labour Laws I
S. K. CHOPRA
+919456590007
skchopra57@rediffmail.com