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General Business Articles

Role of Stock Markets in an Economy

Financial market is one of the components of financial system. Financial market facilitates the efficient allocation of financial resources of the economy so as to achieve socially desirable and economically productive purposes. Existence of an efficient financial market is a pre requisite for promoting savings, investments and consequent economic growth.

Financial markets are extremely important to the general health of an economy. The main function of financial system, viz. capital formation takes place practically in financial markets. Financial institutions work as financial intermediaries and establish link between suppliers and users of funds in financial market. Financial products, including the supply of credit, mortgages, company shares and insurance, are bought and sold in primary and secondary financial markets.… Read the rest

Abey Francis

Case Study: Why Woolworths Failed as a Business?

The British Company, Woolworths is normally categorized as a variety store dealing in retailing of a range of varying products. Historically it was established as a subsidiary of an American Company F.W. Woolworth &Co, in 1879 by Frank Winfield Woolworth It was incorporated in England on 23rd July, 1909 as private limited company with initial capital of 50,250 pound sterling. It, first time floated a new idea of selling all the products at a cost not more than five cents. This idea gained popularity amongst the customers resulting in fast growth of the subsidiary. Its first shop at Liverpool attracted about 60,000 people in first two days because of attractive one penny, three penny and six penny products put at sale.… Read the rest

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Employee Selection Process

There is no hard and fast rule regarding the steps involved in the process of selection. The number of selection steps depends upon many factors like the size of the organization, level of job, nature of job, philosophy of management, availability of time, number of applicants, etc. Some organizations follow a long chain of steps, eliminating unsuitable candidates at every step, finally left with the candidates who are to be employed on the other hand, some organizations select their employees just in one go through ‘Walk-in-interviews’.

Large organizations, usually consider the following steps in the employee selection process:

1. Application Blank

An application blank is a columnar Performa which constrains information like address, physical characteristics, educational qualifications, experience, necessary personal information, references, etc.… Read the rest

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Staffing Process in Management

Staffing means manning of an organization. Staffing process involves determination of manpower requirements, recruitment, selection, placement, training, development, job transfer and appraisal of personnel to fill the various positions in an organization.

1. Manpower Planning

The staffing function starts with the manpower planning. This means to assess precisely how many persons are required for the various positions in the organization, how many persons does the organization already haves and how many more will have to be appointed. The staffing also ensures that the right kind of people is to be placed at the right job. Manpower planning is also known as Human Resource Planning.… Read the rest

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Staffing Function of Management

Staffing function of management consists of manpower planning, recruitment, selection, training, compensation, promotion & maintenance of managerial personnel.

“The managerial function of staffing involves manning the organizational structure through proper & effective selection, appraisal & development of personnel to fill the roles designed into the structure”: – Koontz and O’Donnell

Need and Importance of Staffing

How can the enterprise objectives be achieved if competent persons are not appointed in the organisation? What would be the fate of an organisation that is indifferent to the training requirements of its personnel? How will the managers and operators feel if they are not duly compensated for their sacrifices for the organisation?… Read the rest

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Differences Between Profit and Non-Profit Organization

An  organization  is a social arrangement which pursues collective goals, controls its own performance, and has a boundary separating it from its environment. It is a business which has a primary goal of making profit and a proposed goal such as helping the environment.

A  non-profit organization  is an  organization  which does not distribute its surplus funds to owners or shareholders, but instead uses them to help pursue its goals.  Examples of NPOs include charities (i.e.  charitable organizations),  trade unions, and public  arts  organizations. Most governments and government agencies meet this definition, but in most countries they are considered a separate type of organization and not counted as NPOs.… Read the rest

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