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Filing : Meaning, Objectives, Importance, Methods of Classification and Qualities of Good Filing
Meaning of Filing Filing is a systematic method of record keeping. It is carefully keeping and preserving letters, vouchers, bills, reports, and other important documents. It is the process of arranging and preserving documents of different kinds for future reference. It is the art of keeping documents and letters safely so that they can be…
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Recruitment – A Key Function of HRM
Recruitment is the process of finding the right and suitable candidate for a job. It can be defined as the process of finding and hiring rightly qualified candidates for a job either internally or externally by an organization. Recruitment is the process through which prospective employees are searched and stimulated to apply for the job…
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Fayol’s Principle of Administrative Management – The 14 Principles of Management
Fayol’s Principle of Administrative Management – The 14 Principles of Management Henry Fayol (1841-1925) was a French engineer who worked for a coal mining company and retired after 30 years of being Managing Director of the company. He was given the responsibility as the Managing Director when the company was in a state of insolvency.…
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Macroeconomics – AN Overview
Meaning of Macroeconomics Macroeconomics is another important segment of economics. As the term implies, macroeconomics looks at the overall, big-picture scenario of the economy. It is the branch of economics that studies how an overall economy—the market or other systems that operate on a large scale behaves. Macroeconomics studies economy-wide phenomena such as inflation, price levels,…
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Deposit : Meaning, Types and Mobilization
Meaning of Deposit A deposit is an act of keeping or placing money with the bank. It is done through a bank account opened with the bank which may or may not provide interest to the depositor. Such accounts are opened as per the need of customers along with integrated facilities provided by a bank.…
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Cash Book : Know It Briefly
A cash book is a daybook or main entry book used to record all transactions related to cash. It records all cash receipts and all cash payments. A cash book is considered a special day book because of its dual nature in accounting. Cash book acts as the main entry book as well as a…
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Record Management : Taking A Glance Of It
Record and Its Types A record Is the collected information concerned with activities of an organization. It acts as basis for present and future organizational activities. Record is the pool of information created and received in an organization which is kept in written or digital form for future reference. It has significance in planning, decision…
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Job Analysis : What It Is And What It Includes?
Meaning of Job Analysis Job is the division of total work into different positions. It is a group of positions with corresponding duties. Job analysis is the process of collecting and studying job information. It is a detailed and systematic study of the job to know the job composition and nature and characteristics of the…
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Taylor’s Principle of Scientific Management : What Is It All About ?
Frederick Winslow Taylor (1856-1915) started his career as an operator and rose to the position of chief engineer. During his work, he conducted various experiments which made the foundation for scientific management. Taylor performed these experiments to reduce wastage and increase operational efficiency. Scientific management implies the use of scientific techniques to identify problems and…
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Microeconomics : An Introduction
Understanding Microeconomics Microeconomics is one of the widest subjects of economics. It is the part of economics that deals with the individual unit of economic variables and their behavior. The term ‘Microeconomics’ was first used by Norwegian Economist Ragnar Frisch in 1933 AD. It is the study of different parts of the economic system, not…