Informal Recruitment – Meaning, Advantages and Disadvantages

Informal methods of recruitment and selection always have been into debate among HR experts and consultants across the globe because it is against the standard HR principles and practice. But still it exist because it gives lot of benefits to the employers. Informal recruitment methods generate better selection in the professional and qualified jobs as well when compare to formal methods. If organization hire the employees without following the complete procedure of recruitment and selection then these methods will be called informal methods like walk in interview given by employee without job announcement, applicant refer by existing employees. Word-of-Mouth (WOM) recruitment is commonly used and followed informal method across the globe with irrespective the sector and technology but the percentage vary from country to country. WOM is a reference to passing or communicate the information from person to person. WOM recruitment is getting the references from the current employee, personal Continue reading

Traditional and Modern Innovative Management Accounting Practices

In last many years, few management accounting innovations has been developed. Managers have to make decision on a daily basis as well make decisions regarding the future and how to survive and grow in an energetic market place with ever growing uncertain circumstances. Traditional and modern management accounting system give relevant information to all levels of management, financial and other information to make decisions about planning, control of operations and identifying opportunities to add value. The modern management accounting practices are typically different from that of traditional management accounting as they enable managers to make sound decisions to minimize cost as well in the same time add value to the products and services by improving the quality of products, which is required by the customers, and reduce waste. In addition, the modern management accounting systems allow the organisation as whole to develop the innovative capacity of the organisation and flexibility Continue reading

3 Levels of Grid Computing Deployment

Grid computing is the application of several computers to a single problem at the same time – usually to a scientific or technical problem that requires a great number of computer processing cycles or access to large amounts of data. Computational grids that couple geographically distributed resources are becoming the effective computing platform for solving large-scale problems in science, engineering, and commerce. According to John Patrick, IBM’s vice president for Internet strategies, “the next big thing will be grid computing.” Although Grid computing is firmly ensconced in the realm of academic and research activities, more and more companies are starting to turn to it for solving hard-nosed, real-world problems. Grid computing is emerging as a viable technology that businesses can use to wring more profits and productivity out of IT resources –and it’s going to be up to you developers and administrators to understand Grid computing and put it to Continue reading

Elements of the Communication Process

Communication is a dynamic process involving a series of actions and reactions with a view to achieving a goal. How does it work? Think that you are in conversation with your friend. You are a sender or communicator, formulate (encode) an idea or message as best as you can, and pass on the message to your friend, who to the best of his ability receives or acts on the message (decode). He responds by formulating his own message and communicates to you (feedback) . If you think your message is understood or well received by your friend, then you go ahead with the next idea that you have in mind and the conversation goes on and on. Communication is, therefore, a two way process, that is, the ability to receive is as important as the ability to send. For successful communication, feedback is crucial because it tells how your message Continue reading

SWOT Analysis of Volvo

One of the strongest brands of the automotive industry, the Volvo Car Corporation was founded in Gothenburg, Sweden by Assar Gabrielsson and Gustaf Larson in 1927. From the very beginning, the aim of the two owners was to construct vehicles that will be safe, compatible to the Sweden’s climate and awful roads at that time. So the company’s development in last 80 years was focused on safety-the main principle of Volvo’s design, quality and durability of the vehicles. The first truck was introduced and immediately sold in January 1928 and not only in Sweden. In 1930s there was an export of Volvo trucks to Europe. In 1929 the first marine engine was introduced, followed by the first bus that was launched in 1934 as well as the aircraft engines in 1940s making the company to develop and grow and become global group worldwide. In 1999 Volvo Group sold Volvo Cars Continue reading

Trading, Clearing and Settlement Transactions at NCDEX

Trading The trading system on the NCDEX provides a fully automated screen based trading for futures on commodities on a nationwide basis as well as online monitoring and surveillance mechanism. It supports an order driven market and provides complete transparency of trading operations. Order matching is essential on the basis of commodity, its price, time and quantity. All quantity fields are in units and price in rupees. The exchange specifies the unit of trading and the delivery unit for futures contracts on various commodities. The exchange notifies the regular lot size and tick size for each of the contracts traded from time to time. When any order enters the trading system, it is an active order. It tries to finds a match on the other side of the book. If it finds a match, a trade is generated. If it does not find a match, the order becomes passive and Continue reading