E-mail & it’s business importance

Introduction

Electronic mail, often abbreviated to e-mail, is a store and forward method of writing, sending, receiving and saving messages over electronic communication systems. The term e-mail applies to the internet e-mail system. E-mail is often used to deliver bulk unsolicited messages or “spam”, but filter programs exist which can automatically block, quarantine or delete some or most of these, depending on the situation.

The spellings e-mail and email are both common. Several prominent journalistic and technical style guides recommend e-mail, and the spelling email is also recognized in many dictionaries.

Why do you need email etiquette?

A company needs to implement etiquette rules for the following three reasons:

  • Professionalism: by using proper email language your company will convey a professional image.
  • Efficiency: emails that get to the point are much more effective than poorly worded emails.
  • Protection from liability: employee awareness of email risks will protect your company from costly law suits.

Email etiquettes:

Reply To All

The ‘Reply to All’ button is just a button, but it can generate tons of unnecessary e-mails. However, if each person hits the “Reply to All’ button not only do I get a dozen replies, but so does everyone else for a total of 144 messages! ‘Reply to All’ button should be used with care.

Don’t Be A Novelist

Messages should be concise and to the point. Think of it as a telephone conversation, except you are typing instead of speaking. Nobody has ever won a Pulitzer Prize for a telephone conversation nor will they win one for an e-mail message.… Read the rest

Advantages and disadvantages of the Depository System

Advantages of the Depository System

The advantages of dematerialization of securities are as follows:

  • Share certificates, on dematerialization, are cancelled and the same will not be sent back to the investor. The shares, represented by dematerialized share certificates are fungible and, therefore, certificate numbers and distinctive numbers are cancelled and become non-operative.
  • It enables processing of share trading and transfers electronically without involving share certificates and transfer deeds, thus eliminating the paper work involved in scrip-based trading and share transfer system.
  • Transfer of dematerialized securities is immediate and unlike in the case of physical transfer where the change of ownership has to be informed to the company in order to be registered as such, in case of transfer in dematerialized form, beneficial ownership will be transferred as soon as the shares are transferred from one account to another.
  • The investor is also relieved of problems like bad delivery, fake certificates, shares under litigation, signature difference of transferor and the like.
  • There is no need to fill a transfer form for transfer of shares and affix share transfer stamps.
  • There is saving in time and cost on account of elimination of posting of certificates.
  • The threat of loss of certificates or fraudulent interception of certificates in transit that causes anxiety to the investors, are eliminated.

Disadvantages/Problems of the Depository System

Some disadvantages were about the depository system were known beforehand. But since the advantages outweighed the shortcomings of dematerialisation, the depository system was given the go-ahead.

  • Lack of control: Trading in securities may become uncontrolled in case of dematerialized securities.
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Depository System in India

India has adopted the Depository System for securities trading in which book entry is done electronically and no paper is involved. The physical form of securities is extinguished and shares or securities are held in an electronic form. Before the introduction of the depository system through the Depository Act, 1996, the process of sale, purchase and transfer of securities was a huge problem, and there was no safety at all.

Key Features of the Depository System in India

1. Multi-Depository System: The depository model adopted in India provides for a competitive multi-depository system. There can be various entities providing depository services. A depository should be a company formed under the Company Act, 1956 and should have been granted a certificate of registration under the Securities and Exchange Board of India Act, 1992. Presently, there are two depositories registered with SEBI, namely:

  • National Securities Depository Limited (NSDL), and
  • Central Depository Service Limited (CDSL)

2. Depository services through depository participants: The depositories can provide their services to investors through their agents called depository participants. These agents are appointed subject to the conditions prescribed under Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 and other applicable conditions.

3. Dematerialisation: The model adopted in India provides for dematerialisation of securities. This is a significant step in the direction of achieving a completely paper-free securities market. Dematerialization is a process by which physical certificates of an investor are converted into electronic form and credited to the account of the depository participant.

4. Fungibility: The securities held in dematerialized form do not bear any notable feature like distinctive number, folio number or certificate number.… Read the rest

Enterprise Resource Planning (ERP)

Enterprise Resource Planning (ERP) is defined as an Integrated Computer based planning technique used in Organizations and Enterprises for management and resource planning. Resources here mean both internal and external resources of an organization. Various resources of an organization can include financial resource, tangible resource, human resource and also various material requirements. ERP can also be defined as an application and software architecture that facilitates Information flows between various business functions inside and outside of an organization. It consolidates business environment into a uniform system environment. Basically what ERP systems do is that it integrates and automates processes within an entire organization regardless of the organization’s behavior.

A traditional definition of Enterprise Resource Planning (ERP) as given by APICS – The Educational Society for Resource Management is given as, ERP is a method for effective planning and control of all resources needed to take, make, ship and account for customer orders in a manufacturing, distribution or service company.

ERP are used in various Industries and organizations like manufacturing, distribution, transportation, education, healthcare, banking and others. ERP delivers a single database that contains all data for the various software modules. It typically addresses areas such as:

  • Manufacturing resource planning: Engineering, bills of materials, scheduling, capacity, workflow management, quality control, cost management, manufacturing process, manufacturing projects and manufacturing flow.
  • Supply chain management: Order to cash, inventory, order entry, purchasing, product configuration, supply chain planning, supplier scheduling, inspection of goods, claim processing and commission calculation.
  • Financial management: General ledger, cash management, accounts payable, accounts receivable, fixed assets.
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Marketing Information Systems

Before we discuss about use of Management Information System in marketing we must first be familiar with the term ‘Management Information System’. It is defined as a system or process that provides the information necessary to manage an organization effectively. MIS and the information it generates are generally considered essential components of prudent and reasonable business decisions.

Management Information Systems are distinct from Regular information systems in that they are used to analyze other information systems applied in operational activities in the organization. Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. Decision Support Systems, Expert systems, and Executive information systems.

MIS should have a clearly defined framework of guidelines, policies or practices, standards, and procedures for the organization. These should be followed throughout the institution in the development, maintenance, and use of all MIS. It is viewed and used at many levels by management. It should be supportive of the institution’s longer term strategic goals and objectives.

MARKETING INFORMATION SYSTEMS

Marketing is one of the major factors for the sustenance of any business as revenues are a direct outcome of it. Information systems in marketing process include technologies that allow managers to access important and updated information about the customer wants and preferences and current market demands so that they can offer prompt and apt services. Information Systems also aid in determining and implementing effective marketing strategy.

The Marketing Information System focuses on only the marketing aspects of the management information system.… Read the rest

Introduction to Marketing Enviornment

Marketing is a general term used to describe all the various activities involved in transferring goods and services from producers to consumers. In addition to the functions commonly associated with it, such as advertising and sales promotion, marketing also encompasses product development, packaging, distribution channels, pricing, and many other functions. The modern marketing concept, which is applied by most successful small businesses, is intended to focus all of a company’s activities upon uncovering and satisfying customer needs. After all, an entrepreneur may come up with a great product and use the most efficient production methods to make it, but all the effort will have been wasted if he or she is unable to consummate the sale of the product to consumers.

Marketing enviornment:

In order to correctly identify opportunities and monitor threats, the company must begin with a thorough understanding of the marketing environment in which the firm operates. The marketing environment consists of all the actors and forces outside marketing that affect the marketing management’s ability to develop and maintain successful relationships with its target customers. Though these factors and forces may vary depending on the specific company and industrial group, they can generally be divided into broad micro environmental and macro environmental components. For most companies, the micro environmental components are: the company, suppliers, marketing channel firms (intermediaries), customer markets, competitors, and publics which combine to make up the company’s value delivery system. The macro environmental components are thought to be: demographic, economic, natural, technological, political, and cultural forces.… Read the rest