EDUCATIONAL WORLD

Oral communication or dynamic communication  Oral communication or dynamic communication is the transmission of message trough spoken words and refers to the interaction between two persons Advantages of oral communication Oral communication is less expensive Oral communication saves times Oral communication is more powerful The response of the receiver is know immediately Oral communication is more flexibile Oral communication promotes friendly relations and confidentiality  Oral communication is extremely useful while communicating with groups Oral communication removes misunderstanding and doubts immediately Disadvantages of oral communication Oral communication provides no documentary record for future. Oral communication does not provide sufficient time for thinking before speaking Persons who are not good presenters will fail in oral communication

  Quality Circle(QC) The concept of Quality Circle (QC) originally began in the United States and was exported to japan in 1950s. It is a work group of employees who meet regularly to discuss their quality problems,investigate the causes , recommend solutions and take corrective actions.generally , Quality Circle is a small group of employees belonging to the same and similar work area. A Quality Circle is participatory management technique that enlists the help of employees in solving problems related to their own jobs. Features of QC Improvement in quality of products manufacturing by the organisation. Improvement in methods of production Improvement of employees participating in quality Circle Promoting morale of employees Respect humanity and create happy workplace

  Internal Reconstruction Internal reconstruction refers to the internal organisation of the financial structure of a company.it is the internal reorganisation either by alteration or by the reduction in share capital. Reconstruction by alteration of the share capital is effected by increasing the share capital, consolidating or subdividing the shares, cancellation of unissued share etc. Internal reconstruction by reduction in share capital is the cancellation of any paid-up share capital which is lost or unrepresented by available assets.this is generally resorted to write-off the past accumulated losses of the company.internal reconstruction usually means capital reduction .under the scheme ,the paid-up share capital is reduced with their permission and the amount is utilised to write off the accumulated losses and fictitious assets of the company. According to sec.66 of the Indian companies act,2013 reduction of capital is possible only subject to the confirmation by the tribunal on

  Amalgamation Meaning When two or more companies go into liquidation and a new company is formed to take over the business of the liquidating companies,it is called amalgamation. Definition According to Halsbury's Laws of England, " Amalgamation is a blending of two or more existing into the undertaking,the shareholders of each blending company becoming substantially the shareholders in the company which is to carry on the blended undertakings.there may be amalgamation either by transfer of two or more undertakings to a new company or by the transfer of one or more undertakings to an existing company Objectives   Elimination of competition Price maintenance by regulating output Securing larger share of the market Equitable distribution of what is produced Building-up goodwill Avoiding duplication and reducing costs Introducing schemes of rationalisation Promoting research and development

  Commercial bill market Meaning Commercial bill market is the market which deals with trade bills and commercial bills. A commercial bill is one which arises out of genuine trade(credit) transaction.bill of exchange is a self liquidating negotiable instrument drawn for the period of 3 months to 6 months. Definition Section 5 of the negotiable instrument act ,1881 defines bill of exchange as " an instrument in writing containing an unconditional order signed by the maker,directing a certain person or to the bearer of the instrument".

  Financial appraisal/analysis Financial appraisal is a method of evaluating the viability of a proposed project by assessing the value of net cash flows that results from its implementation. Financial appraisal/analysis is defined as " the process of discovering economic facts about a project on the basis of interpretation of financial data". Objectives of Financial appraisal Deciding the financial feasibility of the project. Identifying and estimated the financial cash flows Assessing the financial sustainability. Determining that part of investment cost which will not be recouped by net revenue. Assessing the funding sources for the project. Examining the return on capital for different sources of fund

 Economics deals with concepts, principles and aspects of economic analysis and managerial economics(also called business economics) deals with application of economic theories for decision making.economics deals with macro and micro economics , managerial economics only includes micro in character.economics includes both positive and normative science and managerial economics includes only normative science.economics deals with all theories of  distribution ,rent,wages, interest and profit managerial economics is widely uses profit theory.managerial economics is study of firms only but economics is study of both individual and firms.economics consider only the economic aspects of a problem, managerial economics consider both economic and non-economic factors.economics have wide scope,and managerial economics have limited scope.and last Economics is very old subject and managerial economics is new and developing subject evolved only after second world war

E-brokers Brokers are those who handle customers to sell and buy securities.E-broking refers to Electronic broking service. Where buying and selling done with help of brokers in internet based proprietary trading platform.A brokerage firm interfaces with its customers over the internet rather tgan face- to-face An E- brokerage is a brokerage house that allows you to buy and sell stocks and obtain investment information from its website. Like a traditional broker ,an online broker executes trades for an investor in exchange for commissions.the primary difference b/w an broker and traditional broker that the online broker provides Electronic, usually internet-based access to client accounts.by taking advantage of the internet,an online broker can also deliver timely news, information,real-time quotes and charts Choosing online broker The type of trader : for a person trading often,lowest commission is important and for an occasional trader, a broker offering good customer service is impo

  Differences between public company and private company The minimum number of persons required form a private company is two and in case of public company a minimum of 7 persons are needed to form a public company.the maximum number of members must not exceed 200 in private company and in public company there is no restriction in maximum number of member.the shares in public company are freely transferable and the shares in private companies are not freely transferable . issuing of prospectus are prohibited in private company and not prohibited in public company.minimum two director and Maximum of 15 directors in private company and in public company the minimum number of directors are 3 and maximum of 15 directors

Corporate Social Responsibility (CSR) Corporate social responsibility of business refers to what the business does for the benefit of the society. Meaning Corporate social responsibility refers to the responsibility of decision makers to take appropriate action and measures to maximize profits as well as to protect and enhance the overall well-being of society in their own interest.   CSR refers to the business obligation and duty of the community Definition According to H.S Singania, corporate social responsibility is " the manner in which a business carries out its own business activity and the welfare activity that it takes upon itself as additional function".

 Joint stock company A  company is an incorporated association of persons having separate legal existence,perpetual succession having common seals official signature. share holders are the owner of the company .but management is vested with Board of directors elected by the shareholders the capital of the company is referred as ' share capital'   which is divided into small units is known as '' share ".  definition According to Prof. haney A joint stock company " is a voluntary association of  in dividuals for profits,having a capital divided into  transferable shares,the ownership of which is the condition of membership" Features formation  : no company can came into existence without registration under companies act 2013. registration involves the preparation of several documents and compliance with several legal formalities separate legal entity : after the registration company gets a separate legal existence a part of its members  artificial persons :

  Meaning A women entrepreneur is a women who conceives a business idea.initiates a business enterprise,organises and combines necessary factors of production,operates the enterprise and undertakes risks and economic uncertainties involved in running a business enterprise. Definition  "Women entrepreneurs" may be defined as a women or a group of women who initiate,organise and run busines enterprise. According to Schumpeterian concept of innovative entrepreneurs.women who innovate,imitate or adopt a businessare defined as " women entrepreneurs ". Leadership qualities of women entrepreneurs Facing challenge :  the women entrepreneurs have the quality of facing challenges that may arise during the course of business. Optimism : A good women entrepreneur should ready to convert adversities into opportunities. Acquisition of new knowledge : successful entrepreneurs is a student who tries hard to acquire new knowledge. She should always search for new ideas P

 Articles of association the ' Articles   of Association' also called ' Articles' .Articles of Association is the second important document which has to be filed with the registrar at the time of registration of country. this document contains a set of rules , regulations and bye-laws for the internal management of the company , these rules and regulations are framed for the purpose of  carrying out the objects of the company as stated as in the ' Memorandum of Association '. Form of Articles of Association the forms of 'Articles of association' are given in tables F,G.H.I and J in schedule I of  companies act ,2013 Table F   - Articles of Association of A company limited by share Table G  - Articles of Association of A company limited by Guarantee and having a share capital Table H  - Articles of Association of A company limited by Guarantee and not having a share capital  Table I    - Articles of Association of A unlimited company and having a share ca

 meaning and definition A Department is an organisational sub unit which is specialised in some products or Activities which are distinct from other sections or sub units or departments .in such cases it is better to ascertain profit of the department separately. A department is defined as" an organisational sub unit specialised  in some activities or products or services and  functions as a profit center ". department accounting departmental accounting is the accounting for ascertain the profit or loss of a department. Objectives / Advantages of Department accounting  Performance appraisal - Helps in ascertain the performance of each department on the basis of trading results. Helps in comparison -  facilitates comparison of trading results of one department with that of another. Basis of planning - departmental accounting information provides base for intelligent planning and control Justification of capital out lay -  helps the management to determine the justification of

  Meaning and Definition Branches are offspring organisations  set up in  different places by a parental organisation known as' Head office '. the main aim of branches are increase sales and sales territory of the business .the head office establishes and controls the activities of different braches trough its centralised system.branches are broadly classified into inland and foreign branches.       The indian Companies act ,1956 defines branch as "any establishment carrying on either the same or substantially the same activity as that carried on by the head office of the company". features of branches  One branch at one place  - Usually there will be only one branch at one places.even if there are more branches at one place they will be under different places. Dealing same items     -  all branches deal in same type of goods or in same line of activities. Capital investments   - capital investments for the branches are made by Head office.  Profit at branch   -  the

 Business entrepreneurs are classified into different types on the basis of (1) Type of business,(2) use of technology,(3) Motivation,(4) Growth and (5) Nature. On the basis of the type of business Business entrepreneurs : those entrepreneurs who conceive idea in to a reality are called business entrepreneurs Trading entrepreneurs  : those entrepreneurs who undertake trading activities and stimulate demand for their products by adopting Sales promotion techniques are are known as trading entrepreneurs. Trading enterprise engage in both Internal and international trade. Industrial entrepreneurs :   industrial entrepreneurs are those who are basically product oriented business man and are real manufactures. They start industrial units and provide all the facilities for making a new new industrial products. Corporate entrepreneurs : corporate entrepreneurs are those who to demonstrate their innovative skills in organising enterprises in the corporate sector Agricultural entrep

Entrepreneur. The term ' Entrepreneur '  is derived from the french word ' entreprendre '.which means " to undertake a business venture ". Meaning: He is an person who tries to create something new,who organises product and undertakes risk involved in the establishment and operation of a business enterprise. Definition: According to encyclopedia Britanica," An entrepreneur is an individual who bears the risk of operating a business in the face of uncertainty about the future conditions " According to adam smith," an entrepreneur is a person who only provides capital without taking active part in the leading role in entreprise "

PARTNERSHIP DISSOLUTION the term dissolution means 'discontinuation'.in a partnership organisation,   there can be two types of dissolution. they are (1) dissolution of partnership (2) dissolution of firm. dissolution of partnership refers to the termination of the original partnership agreement among the partners.when there is an admission or retirement or death of the partner,  leads to dissolution of existing partnershipand in its place a new partnership comes into existence. According to section 39 of the indian partnership act lays down that: "dissolution of patnership between all the partners of a firm is called the dissolution of the firm".

  Partnership Deed partnership is formed out of an agreement between the partners.the agreement may be oral or written. when the agreement is in writing ,it is called the " partnership Deed " or the "articles of partnership". thus, the partnership deed is a document which contains the important terms and conditions of partnership as agreed by the partners.it contains the rules and regulation governing the firm.  Legally there is no obligation on the part of the partners to have a written agreement.However, it is always prudent and advisable to put the partnership agreement in writing.this is mainly because an oral agreement gives rooms for disputes in future. The main purpose of partnership agreement  to maintain peaceful atmosphere and run business smoothly. to avoid futuree disputes,quarrels and misunderstanding among the partners. to avoid contradictions. to remind the partners about their rights,duties and liabilities. Contents of the Partnership Agreement name

Meaning - partnership is the agreement between two or more persons.who agree to pool their resources to do a lawful business and to share profits and losses there from in an agreed propotion. Defintion- A ccording to the sec.4 of the indian partnership act-1932 defines partnership as ," the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all". Features/characteristics- 1.Number of persons: The minimum number of persons required to form  a partnership is two.the maximum number is 20 in non-banking or trading firm and 10 in an banking firm. the limit regarding minimum number is fixed by the the partnershi act-1932and the maximum limit is fixed by companies act-1956 2.Agreement: For the formation of partnership an agreement is required.an agreement may be oral or written. 3.sharing of profits and loss: One of the important objective of partnership is sharing of profits and losses in an organi