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Control : Concept, Characteristics, Process and Importance
Concept of Control Any organization makes a plan and implements it to achieve pre-determined goals or objectives. Different activities are to be performed as per such plan to attain the desired target. Thus, to keep such activities on track to achieve goals or objectives, a function is performed in management which is called control. Control…
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Government Budget and Its Different Aspects
Meaning of Government Budget A government has to perform different responsibilities. These responsibilities are related to public welfare and the general administration of government activities. The government needs financial sources to perform such tasks, duties and responsibilities. The financial sources of the government mean government income from different sources and its spending for different purposes.…
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Supervision and Monitoring : Understanding Them A Bit Better
Meaning of Supervision Supervision is the process by which the performance of subordinates is observed by the superior to ensure the work goes according to the plan. It is the act of looking at or overseeing or observation of the performance of employees by the superior individual or team. It is timely, direct and immediate…
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Fiscal Policy : Meaning, Types, Instruments and Objectives
Meaning of Fiscal Policy The policy adopted by the government of a country for economic stabilization and sustainability is called fiscal policy. It is concerned with ensuring the economic growth and development of a nation through government receipt and expenditure. In other words, fiscal policy is the policy concerned with public receipt, public expenditure, public…
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Total Quality Management (TQM) in Organizational Context
Concept TQM Today’s global market is highly competitive and the competition is getting tougher. This is forcing companies to provide more consistent and better quality products and services to their customers. To provide such quality products and services which meet or exceed customer expectations, a key management approach such as Total Quality Management (TQM) should…
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Monetary Policy : Concept, Types, Instruments and Objectives
Concept of Monetary Policy There are two major types of macroeconomic policies. These are fiscal policy and monetary policy. Of the two, monetary policy is concerned with the management of money and money supply in an economy. Monetary policy is a sister strategy to a fiscal policy that formulates policies to facilitate economic policies guided…
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Funded and Non-Funded Business of Bank
Concept The funded business of a bank refers to any transaction or business where the actual fund of the bank is used. IN other words, it facility provided by a bank where the real money is used.These are credit facilities provided by banks making the disbursement of real cash to the concerned beneficiary.It includes bank…
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Price Index : Meaning, Types, Uses and Limitations
Meaning of Price Index There are different factors or phenomena in an economy that change with time. Such change in these factors or phenomena is measured with the help of index numbers. An index number is a statistical device developed to measure the relative change in the level of a phenomenon, variables, or a group…
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Internal Control System in Banking Transactions
Internal Control System in Banking Transaction Meaning and Need An organization is established with definite aims and objectives. These objectives are achieved by performing different managerial, financial, operational and decisional activities. Different employees are involved in different levels of these activities. The work done by these employees has to be checked by another independent employee…
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