Manpower Planning Process – Problems, Barriers and Solutions

The centrality of manpower in production process of corporate entities has long been acknowledged by organization managers and administrators. It is an on-going process (integrated approach), not a once and for all phenomenon. Its process involves interrelated activities and the plan must continue to be modified to meet prevailing circumstances. As a plan, it is embedded with implementation programmes designed to ensure availability of adequate qualified persons. Such implementation programmes include recruitment and selection (employment) of required skilled personnel to perform jobs that will allow the enterprise meet both the corporate and individual goals. The plan implementation programme also entails training and development of personnel and performance appraisal as well as other related personnel administration functions. The term ‘Manpower Planning’ at organizational or corporate level is also known as micro-human resources planning and it has much to do with personnel management or personnel administration. The terms “manpower, ‘human resource”, and Continue reading

Things to Know Before Investing in Mutual Funds

Most important of all, there are certain precautions investors should take while investing in mutual funds: Always the investor should keep a photo copy of the application form. This can be filed to know the manner in which application was made (single, joint ownership and order of ownership). Investors will also be able to see how they have signed the forms (many investors change their signatures over time; some investors have different signatures for banking and investment transactions). Investors will also know the choice they have exercised (dividend and redemption option). The investor must preserve the counterfoil/acknowledgement issued by the collecting agency. This acknowledgement has the application number. If account statement or certificate is not received, the acknowledgement is the proof of purchase, with which investors can approach the registrar and the transfer agent. It is preferable to have joint ownership so that investments will pass on to the joint Continue reading

Marketing Concept in Marketing Management

In a modern industrial economics, productive capacity has been built up to a point where most markets are buyers markets (i.e. the buyers are dominant) and sellers have scramble hard for consumers and ultimately consumers began to occupy a place of unique importance. The business firms recognize that “there is only one valid definition of business purpose to create a customer”. In other words, the recognition of the importance of marketing leads to the acceptance of marketing concept. The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case. In 1776 in the Wealth of Nations, Adam Smith wrote that the needs of producers should be considered only with regard to meeting the needs of consumers. To better Continue reading

Case Study: Amazon.com Situation Analysis

Jeffrey Bezos started Amazon.com in 1994, after recognizing that Internet usage was growing at a rate of 2,300 percent a year. Operating from a 400-square foot office in Seattle, Jeffrey launched Amazon.com on the Internet in July 1995. Amazon.com mission is to use the Internet to transform book buying into the fastest, easiest, and most enjoyable shopping experience possible. By the end of 1996, his firm was one of the most successful Web retailers, with revenues reaching $15.6 million. Almost overnight Amzon.com quickly became the world’s largest e-tail bookstore in the world. Amazon has continued to expand its customer base, and sales revenues have increased every year. The firm’s revenues increased from $15.7 million in 1996 to $2.76 billion in 2000 . Today, Amazon.com is the place to find and discover anything you want to buy online. Amazon offers the Earth’s Biggest Selection of products to 29 million people in Continue reading

Role of Financial Institutions in Economic Development

Financial institutions form the backbone of a modern economy, serving as crucial intermediaries that facilitate the flow of money and capital. By mobilizing savings, providing credit, and offering a spectrum of financial services, these institutions contribute to economic growth and development. Financial institutions provide means and mechanism of transferring resources from those who have an excess of income over expenditure to those who can make productive use of the same. The commercial banks and investment institutions mobilize savings of people and channel them into productive uses. Financial institutions provide all type of assistance required for economic development in the following ways. 1. Providing Funds The underdeveloped countries have low levels of capital formation. Due to low incomes, people are not able to save sufficient funds which are needed for sensing up new units and also for expansion, diversification and modernization of existing units. The persons who have the capability of starting Continue reading

Writing the Research Report

Research Report is the major component of the research study. Report writing is the important stage in the research activity. The hypothesis of the study, the objective of the study and the data collection and data analysis can be well presented in report. This report writing will help others to understand the findings of the research. Report writing is integral part of research and hence it cannot be isolated. Report writing is not a mechanical process but it is an art. It requires skill. Different Steps in Report Writing: It is the critical stage and hence it requires patience. These is no mechanical formulate to present a report, though there are certain steps to be followed while writing a research report. The usual steps in report writing can be indicated in the following manner: Logical analysis of subject matter. Preparation of final outline. Preparation of Rough Draft. Rewriting and Polishing. Continue reading