This document discusses the changing landscape of human resource management in the 21st century. Key points include:
- Advances in technology, globalization, and education will disrupt traditional organizational structures and the way human resources are managed.
- Organizations will need to develop their human resources through continuous training to adapt employees to new challenges and allow them to take on more responsibilities.
- The role of the human resource manager will become more complex and involve analyzing large amounts of data to make strategic decisions. Managers will need to think creatively and involve employees in decision making.
- Government and educational institutions have an important role to play in developing quality managers and ensuring uniform standards for management education across the country.
The current economic recession in Nigeria today tells the whole story; Nigeria is faced with lots of challenges ranging from high rate of poverty, youth and graduate unemployment, over dependence on foreign goods and technology, insecurity, low economic growth and development, poor infrastructural development among others (Ekwesike, 2012)
A proposal on establishing Research University in India: 2008Amit Sheth
Over more than a decade, there have been several proposals to establish a research university, starting with postgraduate (MS/PhD) focus. Appendix A in this is one specific proposal presented to Mr. Narendra Modi in 2008. If one were to start a research university in 2020, perhaps AI and health would be good initial areas. For a related talk given to Mr. Narendra Modi, see: https://www.slideshare.net/apsheth/why-gujarat-needs-much-better-higher-education-research-to-succeed-in-knowledge-economy-what-we-can-do-about-it
Realizing Learners' Potential Across Europe
THE FUTURE IS THE UNDISCOVERED LAND.
EDUCATION IS THE WINDOW THROUGH WHICH WE SEE THIS LAND.
Children who are born today will retire in 2075. The economic, social and technical developments of the last 50 years are a projection of just how little we can predict the world in 50 years from now. The one thing we know for sure: Today's education system will prepare our children for this world.
In our project we introduce an education system that - at its core - is oriented towards the potential of the individual. It is based on the knowledge society, it supports social learning, critical thinking and solidary behaviour in public and private life.
For this research project we have extensively reviewed analyses and findinds of international education experts and institutions, and we have connected it with our own research on the Future of Work. We have interviewed political decision makers and economic leaders to capture their thoughts.
The results have been published and were initially presented at the European Forum Alpbach. Meanwhile they have been discussed at multiple events across Europe.
Author:
FRANZ KUEHMAYER
Founder and CEO
Reflections Research & Consulting
The current economic recession in Nigeria today tells the whole story; Nigeria is faced with lots of challenges ranging from high rate of poverty, youth and graduate unemployment, over dependence on foreign goods and technology, insecurity, low economic growth and development, poor infrastructural development among others (Ekwesike, 2012)
A proposal on establishing Research University in India: 2008Amit Sheth
Over more than a decade, there have been several proposals to establish a research university, starting with postgraduate (MS/PhD) focus. Appendix A in this is one specific proposal presented to Mr. Narendra Modi in 2008. If one were to start a research university in 2020, perhaps AI and health would be good initial areas. For a related talk given to Mr. Narendra Modi, see: https://www.slideshare.net/apsheth/why-gujarat-needs-much-better-higher-education-research-to-succeed-in-knowledge-economy-what-we-can-do-about-it
Realizing Learners' Potential Across Europe
THE FUTURE IS THE UNDISCOVERED LAND.
EDUCATION IS THE WINDOW THROUGH WHICH WE SEE THIS LAND.
Children who are born today will retire in 2075. The economic, social and technical developments of the last 50 years are a projection of just how little we can predict the world in 50 years from now. The one thing we know for sure: Today's education system will prepare our children for this world.
In our project we introduce an education system that - at its core - is oriented towards the potential of the individual. It is based on the knowledge society, it supports social learning, critical thinking and solidary behaviour in public and private life.
For this research project we have extensively reviewed analyses and findinds of international education experts and institutions, and we have connected it with our own research on the Future of Work. We have interviewed political decision makers and economic leaders to capture their thoughts.
The results have been published and were initially presented at the European Forum Alpbach. Meanwhile they have been discussed at multiple events across Europe.
Author:
FRANZ KUEHMAYER
Founder and CEO
Reflections Research & Consulting
It is time we recognize that learning, technology, and workforce development are experiencing a global convergence. In today’s technology-driven world, knowledge and information are growing exponentially. As globalization and advancements in technology reshape society, they also generate an accelerated pace of change that is outpacing humans’ ability to adapt. This requires new approaches to how we upskill and reskill learners to better meet the demands of today and the future.
The 21st Century Knowledge Economy powerpoint to pdfCecile Peterkin
In the Knowledge Economy, more specialized skills are needed to compete in the job market. Learning is continuous. Education is no longer sufficient for the new demands of the 21st century. The 21st Century demands choosing the right occupation, and having the right skills – even the right location
Impact of Information Technology on Global Business Strategies: Globalization...ijtsrd
This study investigates the dynamic effect of information technology infusion into global business. The information technology industry is growing at a rapid pace. Information Technology [IT] is playing an ever-increasing role in supporting business strategies and transformation, with e-business lending new visibility to technologys strategic role. Information technology is a vital part of todays global economy. Indicators show that it will continue to increase in importance during the next decade. IT already impacts almost all aspects of the workplace and most of everyday life. This study will illustrate the effect of digital technology on global business. Prof.Dr. Roshan S. Patel"Impact of Information Technology on Global Business Strategies: Globalization Effect" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-5 , August 2017, URL: http://www.ijtsrd.com/papers/ijtsrd2390.pdf http://www.ijtsrd.com/management/randd-management/2390/impact-of-information-technology-on-global-business-strategies-globalization-effect/profdr-roshan-s-patel
Strategic Options for Creating Competitive Advantage for Youth Enterprises in...paperpublications3
Abstract: The Youth Enterprises have to survive in the global economic environment through defining the areas in which they can achieve the superior results and on them base their complete business. This article discusses the back ground information regarding youth enterprises in relation to vision 2030 and the global trends on SMES competitiveness as well as regional trends on SMES competitiveness. The research objectives are the effects of collaborative networks, innovation, product diversification and entrepreneurial skills on competitive advantage of youth enterprises. Conceptual framework focuses on both independent and dependent variables, independent variables namely; collaborative networks, innovation, product diversification and entrepreneurial skills; dependent variable namely competitive advantage. The purpose of this article is: to unite and to expand the existing cognitions about the concept of collaborative networks, innovativeness, product diversification, and entrepreneurial skills; propose the universal model for the process of transformation of implementing these concept and to point on the guidelines which should follow these concepts.
The Global Futures Forecast 2013 covers the top trends that will impact business, society and individuals in the coming year. It is published by Dr.. James Canton, Futurist, Keynote Presenter, author the Extreme Future, CEO Institute for Global Futures, a San Francisco based think tank.
It is time we recognize that learning, technology, and workforce development are experiencing a global convergence. In today’s technology-driven world, knowledge and information are growing exponentially. As globalization and advancements in technology reshape society, they also generate an accelerated pace of change that is outpacing humans’ ability to adapt. This requires new approaches to how we upskill and reskill learners to better meet the demands of today and the future.
The 21st Century Knowledge Economy powerpoint to pdfCecile Peterkin
In the Knowledge Economy, more specialized skills are needed to compete in the job market. Learning is continuous. Education is no longer sufficient for the new demands of the 21st century. The 21st Century demands choosing the right occupation, and having the right skills – even the right location
Impact of Information Technology on Global Business Strategies: Globalization...ijtsrd
This study investigates the dynamic effect of information technology infusion into global business. The information technology industry is growing at a rapid pace. Information Technology [IT] is playing an ever-increasing role in supporting business strategies and transformation, with e-business lending new visibility to technologys strategic role. Information technology is a vital part of todays global economy. Indicators show that it will continue to increase in importance during the next decade. IT already impacts almost all aspects of the workplace and most of everyday life. This study will illustrate the effect of digital technology on global business. Prof.Dr. Roshan S. Patel"Impact of Information Technology on Global Business Strategies: Globalization Effect" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-5 , August 2017, URL: http://www.ijtsrd.com/papers/ijtsrd2390.pdf http://www.ijtsrd.com/management/randd-management/2390/impact-of-information-technology-on-global-business-strategies-globalization-effect/profdr-roshan-s-patel
Strategic Options for Creating Competitive Advantage for Youth Enterprises in...paperpublications3
Abstract: The Youth Enterprises have to survive in the global economic environment through defining the areas in which they can achieve the superior results and on them base their complete business. This article discusses the back ground information regarding youth enterprises in relation to vision 2030 and the global trends on SMES competitiveness as well as regional trends on SMES competitiveness. The research objectives are the effects of collaborative networks, innovation, product diversification and entrepreneurial skills on competitive advantage of youth enterprises. Conceptual framework focuses on both independent and dependent variables, independent variables namely; collaborative networks, innovation, product diversification and entrepreneurial skills; dependent variable namely competitive advantage. The purpose of this article is: to unite and to expand the existing cognitions about the concept of collaborative networks, innovativeness, product diversification, and entrepreneurial skills; propose the universal model for the process of transformation of implementing these concept and to point on the guidelines which should follow these concepts.
The Global Futures Forecast 2013 covers the top trends that will impact business, society and individuals in the coming year. It is published by Dr.. James Canton, Futurist, Keynote Presenter, author the Extreme Future, CEO Institute for Global Futures, a San Francisco based think tank.
The Nigerian story on the changing nature of work. A final project in fulfillment of my course on edx.org platform.
I did exegesis of the problem and opined solution(s) as to how the Nigerian government and key stakeholders can mitigate or eliminate the unfavourable effects of these disruptions.
YOUTH EMPOWERMENT SUMMIT FOR SUSTAINABLE EMPLOYMENTB. Fiifi Baffoe
It is easy to see that the youth in our communities have several unmet needs. This gravity of situation is seen in the numerous number of homeless and unemployed youth as well as decreasing assistance of government programs. JUP have been striving not only in contributing to solving the problems in our society but seek the main causes thereof and to fight for relevant local and national changes in policies.
Now inviting all leaders (a plus for prayer warriors) from all districts to join / partner in this Youth Empowerment Summit for Sustainable Employment (YESSE) 2018.
It’s a 5 Day workshop aimed at connecting the youth to unleash their Godly potentials to providing Sustainable Solutions to unemployment. This would be followed by a Regional Empowerment Tour to support partners with training on these solutions in their various communities.
Reservations are available for three dedicated youth fanatics from each region; One person from each Constituency, District and Town respectively and across the nation
Dates: 26th – 30th March 2018
Venue: Modern City Hotel
Contact Numbers for sponsors / partnerships / and other enquiries: +233246433994; +233242538218; +233240745655
Zeniteducation provide Net study material , ugc net notres,
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MATATAG CURRICULUM: ASSESSING THE READINESS OF ELEM. PUBLIC SCHOOL TEACHERS I...NelTorrente
In this research, it concludes that while the readiness of teachers in Caloocan City to implement the MATATAG Curriculum is generally positive, targeted efforts in professional development, resource distribution, support networks, and comprehensive preparation can address the existing gaps and ensure successful curriculum implementation.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Delivering Micro-Credentials in Technical and Vocational Education and TrainingAG2 Design
Explore how micro-credentials are transforming Technical and Vocational Education and Training (TVET) with this comprehensive slide deck. Discover what micro-credentials are, their importance in TVET, the advantages they offer, and the insights from industry experts. Additionally, learn about the top software applications available for creating and managing micro-credentials. This presentation also includes valuable resources and a discussion on the future of these specialised certifications.
For more detailed information on delivering micro-credentials in TVET, visit this https://tvettrainer.com/delivering-micro-credentials-in-tvet/
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
management notes for civil service exams
1. - IIndFloor,PaliwalMarket,GumanpuraKOTA (-0744-2392059&3290500
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HUMAN RESOURCE MANAGEMENT SCENARIO IN
21ST
CENTURY
We are growing year after years, century after centuries
both quantitatively and qualitatively. This century has wit-
nessed a tremendous growth in human population. Not only
this we have had speedy industrial growth, development in
science and technology, spread of education, improvement
in health and what not. In the next millennium we are ready
for a giant leap and no looking back. Today we have the
best of civilizations. As we grow in numbers we grow in
institutions. Institutions and organisations of all kinds—edu-
cational, social, economical, political, religious, industrial
business etc. All these are run and managed by human
beings. Human beings are resourceful entities. They are
multifaceted, their maximum utilisation lead to attainment
of our goals. We have to manage these resources perfectly
to the best of its kind. The organisations with perfection in
human resource management are leading and growing. Now
it is realized by all that efficient management of human
resources is the key to success and growth. In the times
to come each organisation will manage its human re-
sources efficiently and stand in the competition. The com-
petition is not from within but it is global. Organisations
should be prepared for facing global competitions. There
are giant players in the globe where survival of the
organisations is at stake. Only the fittest will survive. Hu-
man resource management plays a pivotal role in this re-
spect. Growth in science and technology has brought the
countries closer where the giant multinationalcorporations
are the chief operators in business, industries and educa-
tion. They have achieved perfection in managing and man-
agement. The future will require still more perfection. These
companies have shown the way. They are shaping the
economies for they are creating value and making economic
progress. The progress in primarily dependent on the qual-
ity of management in general and human resource man-
agement in particular. The companies have exploit oppor-
tunities with the help of the limited resources at their dis-
posal which is possible with the help of quality manage-
ment. The people with knowledge and expertise are the
biggest resources with the companies. They are the key to
growth and success. Organisations have to build-up the
best of internal environment, improve quality to create ex-
ternal reputation and grab the market share. Striving for
excellence in every field keeps the organisation ahead of
others.
Today there is a flood of hi fliers. It becomes increasingly
difficult to arrest their stay in the organisation. The very
special efforts are needed to restore them in the
organisation and use their full potentials. To get rid of these
people who give a serious blow to the organisation at times
the human resource manager should make sincere efforts
and have the second line of defence at every level so that if
the senior or any expert leaves the organisation the junior
takes the charge to reduce the tension. One should know
there is no dearth of experts now. If one leaves the other
may come in. In the whole drama it is the work that suffers.
Human resource development is the answer. Continuous
development of knowledge, skill, competence should go
on in the company.
Nothing untowards is going to happen in the 21st century.
Whatever changes are to take place in new millennium we
can see the footsteps today. We should be prepared to
accept the change and equipped ourself to cope with it.
The projection for future can be very well made on the basis
of the indications today. The future is always uncertain.
There is nothing new about it. On the basis of knowledge
and expertise we must be in a position to manage change.
The most of the changes we come across are because of
fast changing technology. The manager has to use the ap-
propriate technology to cope up with the change.
Globally the world will come very closer and we experience
globalchanges. Therecent advancement ininformationtech-
nology will play the key role and take the lead in develop-
ment and growth of the industry, business, trade of the coun-
try. Every field shall get affected by it. A new era of indus-
trial development will be ushered in.
There shall be changes in the overall environment i.e., eco-
nomic, social, political, educational, cultural, demographic,
legal, technological etc. Organisational environment will
change according to the changes in general environment.
A manager has to visualize the future trends and act on
time. Late may be repenting. The use of robots, video
conferencing, computer network will change the pace of
managing and management. Every thing will move in a faster
way. All these are going to influence in a big way. Large
scale use of robot will erode employment opportunities. All
heavy and difficult jobs shall be done by robots. Hence it is
difficult to concede the technological impact. Technologi-
cal progress is a continuous process and no one can ar-
rest it. Organisations have to make the best use of it.
Computer is a widely used machine that has made the
things simple. Computer illiteracy shall be a curse. Com-
puter has made its impact on day-to-day life. Computer
awareness is a compulsion now. Knowledge of computer is
an essential qualification. Computers are playing a key role
in managerial decision making, forecasting the market for
the products. Small business computers are widely used.
A wide range of softwares available to solve complex busi-
ness and managerial problems. Computers are now used
not only in advanced scientific and technological ventures
like satellite communication, atomic energy, genetic engi-
neering but also in offices, business and management,
medical institutions. Computers in the days to come will
ensure a continuous supply of energy.
New ways and means will be found out to utilize solar and
nuclear power.
Computers will affect every part of organisation’s operation.
It will affect the work culture and help immensely the vari-
ous operations. Not only it will but it has already started
influencing that can be apparently seen in many
organisations. Human resource information system keeps
a track on human resources of the organisation.
Education has also come under the influence of techno-
logical progress. With the advent of electronic media and
development in information technology the entire scenario
has been changed. The distant education system has ush-
ered in. It has also reduced the importance of classroom
teaching. The students may take their lessons at home on
the screens of their television sets. At home education sys-
tem will start. They may get the desired depth of knowl-
edge of any subject in their rooms. Compact discs are also
available in this regard. People also have lost faith in the
educational institutions because of their fast deteriorating
standards. They are in search of the new avenues of get-
ting better and quality education. Through computers, sat-
2. - IIndFloor,PaliwalMarket,GumanpuraKOTA (-0744-2392059&3290500
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ellite communication and cable operators it has become
easy to have access to any kind of education. Modern tech-
nology have revolutionised the education.
The development in technology will change the economy
also. There shall be a shift from economy of industrial age
to the global economy and information economy. There may
be cessation of national economy and emergence of global
economy. It will lead to investment opportunities globally
and organisations have to think of global market for their
products.Theeconomiesshallbeinter-dependentnow. They
have to work together. It will usher in better quality of hu-
man life.
All these are going to play their role in the total environment
affecting the organisations operating in any part of the world.
The manager will be facing many challenges in the coming
century. Complexity of environment will cause several prob-
lems needing immediate solutions. Computers are the
machines that can aid a manager in providing solutions to
many complex problems and making correct and appropri-
ate decisions in day-to-day corporate working. Organisations
have to take up speedy human resource development ac-
tivities to cope up with the prevailing complex environment.
It will increase the responsibilities of human resource de-
partment by manifold. He must be aware of the existing
external environment and should study it thoroughly exist-
ing so that their impact on the internal environment can be
rightly assessed. He will then use the qualities and poten-
tials of the human resources at his disposal for the better-
ment of his organisation. He has to see the quality perfor-
mance of the resources because it is the quality that mat-
ters more than anything else. He must be in a position to
use the immense information available to him by making
appropriate analysis of it. Manager of tomorrow should be
an analyst and should have creative thinking ability. He
should utilize his abilites for achieving high productivity. A
quality conscious manager must involve his subordinates
in decision making by inviting their participation and avoid-
ing authoritative way. He should understand the new work
culture and the change taking place in and around the
organisation.
Future of Human Resource Development
Human resource development includes training, executive
development, improvement in leadership skills, imparting
management education, improving skills, knowledge, po-
tential, talents, competence etc. Human resource depart-
ment of the organisation has to develop human resource
development strategy in such a way that the changes tak-
ing place resulting from technological development can be
accommodated to meet the challenges ahead. The change
is inevitable, no one can avert it rather every one has to
accept it. Change can be because of any reason. Every-
thing is changing, demographic combination, social, politi-
cal, economic, educational pattern etc. All these affect the
environment in the country and the world and the internal
environmentoftheindustrialandbusinessorganisation.They
pose various challenges before the organisations. Human
resource development strategy should be formulated to meet
these challenges. The employees should be taken into
confidenceandtellthemtheneedforchange.Trainingshould
be according to the needs of the organisation. For exten-
sive transformation changes in the organisation should be
introduced. Training and development also becomes very
necessary to pay attention for growth of organisational re-
sources so they can shoulder more responsibilities. A sys-
tem of taking timely feedback should also be developed.
Training and development enhances their thinking and mak-
ing judgement and take right decision. The organisations
should take lead in human resource development. It should
be a continuous activity. Now in the days to come the em-
ployees and executives should become training and devel-
opment conscious to remain in employment of the
organisation. The organisations in future will need not hu-
man resources as employees and executives but the people
with courage, knowledge, potentials and always ready to
learn and keep themselves always as fit for work and ac-
cept change and new development. They should take the
lead, generate profits and be growth oriented. Organisations
should feel their needs. Organisations in days to come shall
not be employment providers but they will offer opportuni-
ties to able and the men with talents and potentials to surge
ahead and contribute a lot to the organisation. Gradually
the days of providing employment for life will fade away.
The people will remain in employment on the basis of their
potential, performance and ability to learn and acquire skills.
These shall be the resources the organisations will be in-
terested to develop. Idle employees shall hardly have any
scope for remaining with the organisation. Nobody knows
the future. It is only a forecasting, an assessment about
future.
Human resource development interventions can be imple-
mented from grass root workers and empowered teams of
employees can be built up to meet the requirements of
change. The change shall have to be properly canalised
and it should be meaningful and give way for innovation.
The employees at the lowest level (grass roots) should have
to be prepared to accept the change. For implementing
innovation the government can play a crucial role in meet-
ing the challenges thrown by change. Govt. should con-
tinue to provide employment in the industries managed by
them and they should take up the HRD activities. It gives a
necessary boost.
Managerial Leadership : Managerial leadership should
be capable of coping with the sea-change coming in the
new millennium. They should have a gripping vision of all
aspects. They should have the capacity to see through their
vision and convince the subordinates, employees, custom-
ers, suppliers etc. They should stand affirm in the times of
distress and during tough periods. They should not lose
heart. They should be able to empower subordinates and
employees to achieve desired objectives. The captains of
industries should treat expenses on employee development
as investment and establish relationship of people with qual-
ity product and positive profits.
Management Education : In India there are several man-
agement institutions and universities imparting management
education and producing graduates in management science.
Management education has got divided according to the
status and standard of institute imparting the education.
Accordingly the graduates are getting jobs in corporate
bodies. There is a crying need for uniformity in syllabus
and minimum infrastructure required to teach and train the
students. Government and large corporate bodies should
see to it, so that quality of management education be im-
parted throughout the country. The country needs quality
managers. It is that rare creed that can ensure speedy de-
velopment of the country and enable the country to achieve
3. - IIndFloor,PaliwalMarket,GumanpuraKOTA (-0744-2392059&3290500
3
higher economic growth rate and put the nation in line of
the developed ones.
Now in India many young graduates have realised the need
of doing M.B.A. They are striving to get the management
education. Management education has now attracted all
kinds of graduates for the study. Many have got the em-
ployment in Indian and foreign corporate bodies. For tech-
nical graduates management degree becomes an added
qualification giving them a special status in the company.
Management is a skill that can be acquired through its proper
education and studies.
Government’s Role in Human Resource Development
Government can play pivotal role in the human resource
development. In India we have a full fledged separate minis-
try for the purpose covering education, health, sport etc.
The government department is plagued by bureaucratic ills
which hampers the overall human resource development. It
is not progressing as is expected. There are several loop-
holes. It should be made more effective to handle the ob-
jectives of human resource development. There should be
task forces, rotating employees in various sections and sub-
sections so that they get acquianted with the entire sys-
tem. They should work efficiently and take the lead in hu-
man resource development because government’s invest-
ment in it will be of autonomous nature without any profit
motive. It will induce the private sector to make large in-
vestment in their human resources development. Human
resources of the country are national assets and they need
development. Overall progress of the country depends on
them. They should therefore be developed to shoulder the
responsibility.
Lack of management education has harrowing effects on
industrial economy of the country. The sickness of several
thousand industrial units of small and medium scale is at-
tributed to managerial inefficiency. Managers at every level
need to be trained and retrained for the better future. The
future is competitive-Only the fittest will survive. The mana-
gerial excellence should be the order. The media can play
an important role in paving the way for better management
education in the country among people. The people should
understand the need for management excellence and its
utility in economic development. Media can popularise the
management education among masses of the country.
The front line managers and middle level managers need
immediate attention of the management institution. It is
these people who work hard to attain excellence in any
organisations. The objectives are achieved through their hard
work and skill. It is they who practice the management
principles. The management institutions and management
scholars should conduct research on the problems of front
line managers and middle level managers and the role they
play and the difficulties they face in achieving the lofty tar-
gets of the corporations. Government should take initiative
in improving the quality of management education in the
country.
Role of Management Association
The management associations of the country, both at local
and national level, play an important role in spreading man-
agement education and management culture. They are
holding discussions, seminars, conferences in their regions
and at national level. They are also providing training to the
managers of middle and lower levels through various ways.
The All India Management Association is regularly holding
National Competition for young managers, taking out jour-
nal containing articles from experts, holding seminars, con-
ferences and various other competitions for practicing man-
agers and also providing facilities for distant education . It
is doing a great job in providing management education.
Still more is required from these associations. They have a
crucial role to play in the days to come.
Role of Technical Institutions
The technical institutions in the country are imparting tech-
nical and engineering education in the country. Every manu-
facturing units require a lot of technical graduates in their
concerns. They are well paid human resources. They have
to perform managerial jobs and lead their subordinates and
workers in accomplishing organisational objectives. They
also require the knowledge of management which they
should get in their technical institutes during the course of
their academic instructions. These institutes should incor-
porate the study of management principles in the curricu-
lum. They should have been given intensive training in the
various factories during their course of study. The syllabus
of management in these institutes should be updated to
suit the requirements of the industries. The industries and
educational institutes should come together and design the
syllabus of every subject according to the needs of indus-
tries. The stress on the study of human resource manage-
ment should be given. Students should know the impor-
tance of human beings and human values and their roles in
shaping the future of the country. They should be well versed
with human psychology. Management education is must
for all, engineers, physicians, scientists, academicians and
other experts.
Role of Training and Development
Training and development should be a continuous activity
in the organisation. The expenses on training and develop-
ment should be considered as investment that generates
income. Training updates the knowledge, improves skills
helps in moulding attitudes and behaviour of the workers
and employees positively. The trained staff do not resist
change. They accept any change introduced by the
organisation for its development. The model approach to
training should be discarded. The training should be made
more relevant to the jobs. In plant training should be given
priority. Higher management bosses should take active in-
terest in providing training and training activity.
Executive development plays vital role in improving morale
and motivating the executives. They become capable of
implementing change and carrying on innovation. The ex-
ecutive development enables the managers to plan their
career and succession. The top management must encour-
age executive development and relate it with their career
paths. It is also a way to retain the executives with the
organisation thus minimising their turn over.
Career plateauing during a career of the executive prevents
him from hard work and is the cause of low motivation. The
purpose of executive development should be to help execu-
tive to cross the plateau in his career. Such environment
should be created in the corporate organisation and keep
the morale of executive high.
Role of Consultants
There is a spurt in management consultants of all kinds.
They are growing in number and providing great help to the
corporations. There will be further rise in their number and
quality in the days to come. They will then provide still greater
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service to the corporations. There are many human resource
development consultants who accepts the assignments of
providing training and executive development. The use of
such consultants by the companies will rise in the next
millennium because company becomes worry free once
the job is assigned to them and it incurs less costs as the
company does not have to pay them regularly a salary.
There are consultant institutions or firms which provide
specialised services to the corporate bodies. They take up
the assignment of searching required number and quality
of people may be workers, employees and managers re-
quired by the companies thereby reducing the worries and
the huge expenses recurred on advertisements, conduct of
tests and interviews and above all the immense time which
is more important for company executives and company
itself in saved. There are several consultancy firms provid-
ing the valuable services to the corporations. These con-
sultants are experts in their field. They are HRD experts.
They can play diagnostic role. They identify the root causes
of organisational ailment and provide solutions. They can
too often advise the company to go ahead with the
programmes of job enrichment, MBO, having quality circles,
providing incentives etc. to cure the organisational ills.
The human resource expert can perform the job of a con-
sultant in the company occupying a position or remaining
outside the company and independently practice manage-
ment. The knowledge acquired by him does not go waste.
Practising management consultant has a tremendous scope
in the next millennium. He can ably work as a catalyst-
facilitator. He can create an environment for discussion on
management leadership, styles management ethics, work
culture and climate. He can help the management to de-
velop clear understanding on these inter-related
organisational aspects. He is the resource persons in the
areas of organisational development and organisational ef-
fectiveness and increasing the organisational efficiency.
Human resource expert can make the human resources
audit and can evaluate their efficiency and need in the
organisation. He can make the cost benefit analysis of hu-
man resources. He knows the perceptions of employees
and the management views and he can then suggests the
programmes and policies most suitable to the corporation.
Hence human resource expert has a great role to play in
the coming days and his importance will go on rise and his
services will be required by more and more organisations of
all kinds and types in the country.
Management Attitude
Most of the management follow theory “x’ even today. The
style of managerial leadership should change now. It should
be more participative in nature and practice. A new awak-
ening has come up among workers and employees now.
Traditional ways of managing should go away and replaced
by the new ways. Democratic style should now be adopted.
Workers should be taken into confidence to run the
organisation. Management should be humane in nature.
Employees and workers are valuable human resources and
not the cogs in the machines. If they are ill-treated revolt is
the immediate outcome that can take any dimensions stall-
ing the work and unnecessary increasing the expenses of
the corporate bodies.
In India people from different parts of the country are com-
ing to join the company. They speak different languages,
practising different religions and cultures. These human
resources should be treated with care and their feelings
should be respected. They should feel secured, their inter-
ests should be protected. If so it will increase organisational
effectiveness. Gross roots should be mobilised to have
organisational efficiency.
Participation should be voluntarily accepted. No one should
be forced to accept it. Work groups should be allowed to
take their time in participating. Management structureshould
be so designed to allow participation. Management should
be caring one. It should be tolerant in the times ahead.
False ethos should be shed away giving rise to new con-
cepts. It should be adaptable. Efficiency, sincerity should
be rewarded.
With the advent of globalisation a new twist to the human
resource management and development is on card. There
shall be a process of internationalisation that will create a
necessity for additional expertise in language and culture
of different countries. Human resource expert should know
the culture, tradition and behaviour of the people of different
countries. He has to work with different people of different
countries and hence he requires additional knowledge. On
globalfrontsthehumanresourceexpertrequiresmoreknowl-
edge, more competence, hard work to keep him fit with his
counterparts in other countries of the world. Lagging be-
hind will oust him from the global scene. Sensible and hard
work is the key to keep him in the race. He should have
open mind and listening ability and courage to defend his
concepts and not to stick to the bygone ethos.
A global executive will emerge now. He will be responsible
to work in any part of the world efficiently and fearlessly as
if he is working in his own country. He has to work with
different people under different environments. He should
develop an inbuilt capacity to work anywhere on the globe
without any hitch and with full interest and potential, ca-
pacity and drive. He should work for the company and
achieve company’s goal setting aside his self interest and
must have a lion’s heart to defend the company’s convic-
tions.
Global scenario differs from the domestic ones. The strat-
egy that is successful in domestic country may be a failure
in international arena. It is therefore necessary for a global
executive to develop a global vision, adaptable mind and a
clean foresight to see the prospects of the organisation he
is working for. He is very mobile on the globe and hence he
should possess the additional knowledge of labour laws of
different nations, their traditions, customs and language.
Human resource expert should be in a position to make
correct job descriptions for the jobs in different countries.
He should update the knowledge from time to time keeping
himself in tune with the other global executives coming from
other nations.......
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MANAGEMENT TERMS
A
Abandonment Value
The amount which could be recovered from an investment
project if it were immediately to be abandoned. It is of im-
portance in the field of capital budgeting as a concept rel-
evant to the monitoring and review of ongoing capital
projects. No decision to invest should be regarded as irre-
vocable, and if at any time the abandonment of a project is
of greater value than its continuance then abandonment is
indicated. The simple decision rule is that a project should
be abandoned if its abandonment value exceeds the net
present value of its projected cash flows.
Abatement
A deduction which reduces the effect which some charge
would otherwise have. The term is usually applied to an
abatement of taxation which is given in special circum-
stances. Small companies, for example, receive an abate-
ment of corporation tax by being charged at an especially
low rate.
ABC Method
An application of the principle of management by excep-
tion by which stock is analysed into categories by value of
total annual usage. The object is to focus attention on those
groups of stock items which warrant closest control. Also
known as split inventory system.
Abnormal Cost
A cost which has been incurred in connection with an ac-
tivity but which would not normally have been expected to
be incurred. It relates to some unanticipated and non-re-
curring event.
Abnormal Wastage
Wastage heading to an unanticipated additional cost. Many
industrial process as creates a certain amount of waste
material. When garments are cut out of cloth, for example,
there will be pieces of material which cannot be used. The
actual amount of waste depends partly upon the care with
which the process is undertaken but there will be an irre-
ducible minimum which depends upon the technicalities of
the process. Abnormal wastage is that amount by which
actual wastage exceeds the irreducible minimum, known
as normal wastage. Its significance is that it represents a
loss due to avoidable causes as opposed to a necessary
part of the cost of production. For costing purposes it should
be shown separately in the costing profit and loss account.
Above the Line
Included in the profit and loss account of the business. The
‘line’ is that dividing the profit and loss account from the
appropriation account. Also below the line.
Above-the-line Advertising
Any form of advertising for which a commission or fee is
payable to a recognized advertising agency operating on
behalf of its client(s).
Abridged Accounts
Accounts which, while covering the full financial period to
which they relate, are not fully detailed financial statements.
They may be used where a company wishes to give infor-
mation of its financial affairs in a summarised form to those
who may not be entitled to or require a full set of accounts,
e.g. its employees. Where a company issues abridged ac-
counts they must be accompanied by a statement which
indicates:
(a) that they are not complete financial statements;
(b) whether or not full statements have been filed with the
Registrar of Companies
(c) whether or not the auditors have reported on the full
financial statements; and
(d) whether or not the Auditors Report was qualified
Abscond
To disappear, often taking property or money. An employee,
for example, may abscond with the contents of the cash
box.
Absenteeism
The failure to report to work. It is often expressed as a
percentage: the number of absentees per 100 employees
for a given time period, e.g. a work-day or work-shift.
Absolute Liability
Legal liability for an act that causes harm, even tough the
doer of the harm is not at fault.
Absorb
To allocate or apportion an item of overhead to some unit of
production or cast centre. Thus if fixed overhead is charged
to production on, say, a machine hour rate it is said to have
been absorbed on that basis.
Absorption Costing
An American term sometimes used to describe historical
‘costing or ‘orthodox’ costing, i.e. the assignment of all fixed
and variable costs to goods and services produced.
Abstinence
1. The conduct of a person who either abstains from the
unproductive use of what he can command, or designedly
prefers the production of remote to that of immediate re-
sults.
2. The sacrifice of the present for the sake of future has
been called ‘abstinence’ by economists. However, this term
is misunderstood. Therefore, we may better use the term
‘waiting’ for it.
Abstract of Title
A written document used to determine the ownership of a
particular parcel of land. It summarizes the material portion
of every deed and other transaction that affect the title of
that land, thus representing a history of its ownership.
Abusive Dismissal
When an employee is dismissed in a way which is techni-
cally correct according to his Contract of Employment—for
example, by giving the stipulated period of notice—but in
such a way that management has abused its power in do-
ing so. Such dismissal can be grounds for a appeal to an
industrial tribunal and is illegal in many countries.
ACA
The designatory letters of an associate member of the In-
stitute of Chartered Accountants in many countries.
ACCA
The designatory letters of an associate member of the Char-
tered Association of Certified Accountants.
Accelerated Depreciation
A method of calculating depreciation in such a manner that
a larger proportion of an asset’s value is written off in the
early pan of its life than in later parts. Examples of meth-
ods of applying accelerated depreciation are the reducing
balance method and the sum of the years Digits method.
The straight line method is, by contrast, not a method of
accelerated depreciation. Accelerated depreciation may be
used either because it is believed that this reflects the ac-
tual pattern of the decline in value of the asset or because
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as a general principle, it is regarded as more prudent to
write off assets as quickly as possible.
Accelerating Vocational Training
Training or (usually) retraining which is intended to help
adult workers to acquire skills which traditionally have been
acquired by apprenticeship in a much shorter period than
is usually taken by an apprenticeship. Training programmes
of this type are usually government sponsored.
Acceleration Clause
A provision in an agreement for the repayment of a loan by
installments that if a specified number of installments are
not paid then all the outstanding payments are due imme-
diately.
Acceleration Principle
The basic relationship between the change in the level of
output and the volume of investment spending is known as
the acceleration principle. The capital-output ratio is known
as the accelerator. The theory of investment based on this
relationship is known as the acceleratory theory.
Acceptable Quality Level
In manufacturing, it refers to the level of quality at which
components, processes, or finished goods are considered
good to be continued without rework, or immediately ship-
pable. The maximum percentage of defectives (or number
of defects per 100 units) that will be accepted in the output
from a production process.
Acceptance
The action of signifying on the face of a bill of exchange
that liability is accepted under it. An accepted bill of ex-
change is likely to be easier to negotiate than one which
has not been accepted.
Acceptance Sampling
In statistical quality control, the extraction of a sample from
a quantity of goods or materials to be inspected for the
purpose of determining whether the entire quantity will be
accepted or rejected.
Access Right
1. The level of access which is granted to users of a sys-
tem e.g., read a file only, or write to a file.
2. The right of an owner or his authorized agent to enter or
leave his property without trespassing.
Accident Book
A book which almost every employer must keep at each
workplace so that any employee can make a record of any
personal injury suffered by him as a result of an accident at
work. The main purpose of the record is so that an em-
ployee can have evidence to support a claim for industrial
injuries benefit.
Accident Insurance
Insurance which gives an indemnity for the consequences
of an accident, e.g. extra expenses incurred, loss of in-
come, but not for other sources of loss. Accidental death
insurance carries a much lower rate of premium than full
life assurance.
Accommodation Bill
A bill of exchange which has been drawn on and accepted
by a reputably party for the purpose of giving value to the
bill so that it can be discounted. There is no underlying
trading transaction as would normally be the case for a bill
of exchange.
Account
1. Any document or device whereby a record is kept of
flows of value measured in money terms. A business will
record all of its transactions in a set of accounts making up
its ledger. A cash account, for example, will show all cash
received and” paid. A fixed asset account will show pur-
chases, sales and depreciation of fixed assets. The term
may also apply to a record of dealings between contracting
parties. Thus one may have an account with a shop from
which one makes regular purchases or an account with a
bank.
2. A period of time designated by the stock exchange dur-
ing which all transactions fall to be settled at the same
time. An account is usually of two weeks’ duration, from a
Monday until the Friday next but one, except where it em-
braces a public holiday, when it will last for three weeks. All
the transactions within an account are due for settlement
on settlement day which is the Tuesday next but one after
the end of an account.
Accountability
1. The obligation of a subordinate to answer to his superior
for the exercise of authority in line with his delegated re-
sponsibility, for the performance of duties assigned to him.
2. The obligation of providing evidence of good manage-
ment, supervision or performance, for example, by a Board
of Directors to its shareholders.
3. Frequently synonymous with responsibility.
Accountancy
The activity of preparing and auditing the financial records
and statements of organisations.
Accountant’s International Study Group
A body representative of accountants from a number of
countries which considers a variety of topics and issues
reports on them.
Accounts Reporting Rules
A statement issued jointly by the main accountancy bod-
ies setting out guidelines for accountants who have to re-
port on the profit forecasts contained in company prospec-
tuses.
Account Executive
The manager on the staff of an advertising agency who
handles all negotiations with a client and is responsible for
the agreed service to him.
Accounting
The principles and techniques used in establishing, main-
taining and analysing the records of the financial transac-
tions of a business or other type of organisation. Account-
ing is primarily concerned with devising recording meth-
ods, keeping records, internal auditing and reporting to man-
agement.
Accounting Bases
The various methods of constructing accounting figures
which are available. There are, for example, several bases
on which depreciation might be determined. From the avail-
able accounting bases any business has to make an ap-
propriate selection which become its accounting policies.
Accounting Concepts
Thefundamentalframeworkofideaswhichunderlietheprepa-
ration of accounts. There is no authoritative agreement on
what these concepts are or ought to be although some
attempts have been made by to codify them........
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SOCIAL RESPONSIBILITY OF BUSINESS
Meaning
Social responsibility of business implies the obligations of
the management of a business enterprise to protect the
interests of the society. According to the concept of social
responsibility the objective of managers for taking business
decisions is not merely to maximise profits or sharehold-
ers’ value but also to serve and protect the interests of
other members of a society such as workers, consumers
and the community as a whole. Thus, Sachar Committee
on Companies and MRTP Acts appointed by Government
of India states, “In the development of corporate ethics we
have reached a stage where the question of social respon-
sibility of business to the community can no longer be
scoffed at or taken lightly. In the environment of modern
corporate economic development, the corporate sector no
longer functions in isolation. If the plea of the companies
that they are performing a social purpose is to be accepted,
it can only be judged by the test of social responsivess
shown to the needs of the society. It may be noted that
some Indian sociologists and economists relate the idea of
social responsibility of business of the Gandhian concept
of trusteeship. According to Mahatma Gandhi, capitalist
class owns wealth or capital as trustees of the society.
The resources and capital they use for production of goods
and services, according to him, should be used not to
maximise profits for them but for the larger benefit of the
society.
However, in our view, it will be too idealistic to expect that
business enterprises will be purely guided by the benefits
they confer on the society by their activities. The concept
of social responsibility as used in management science is
that businesses should maximise their profits subject to
their working in a socially responsible manner to promote
the interests of the society. Their business activities should
not harm other groups such as consumers, workers, and
public at large. Mr. N.R. Narayana, Chairman of Infosys
makes the idea of social responsibility of business quite
clear when in a conference on corporate social responsibil-
ity he said, “Corporate’s foremost social responsibility is to
create maximum shareholders’ value working in a way which
is fair to all its stakeholders — workers, consumers, the
community, government and the environment. He further
points out, “Working in harmony with the community and
environment around us and not cheating our customers and
workers we might not gain anything in the short run but in
the long term it means greater profits and shareholders
value”
Social Responsibility of Business and Social Contract
It is evident from above, the social responsibility of busi-
ness implies that a corporate enterprise has to serve inter-
ests other than that of common shareholders who, of course,
expect that their rate of return, value or wealth should be
maximised. But in today’s world the interest of other stake-
holders, community and environment must be protected
and promoted. Social responsibility of business enterprises
to the various stakeholders and society in general is con-
sidered to be the result of a social contract. Social con-
tract is a set of rules that defines the agreed interrelation-
ship between various elements of a society. The social con-
tract often involves a quid pro quo (i.e. something given in
exchange for another). In the social contract, one party to
the contract gives something and expects a certain thing
or behaviour pattern from the other. In the present context
the social contract is concerned with the relationship of a
business enterprise with various stakeholders such as share-
holders, employees, consumers, government and society
in general. The business enterprises happen to have re-
sources because society consisting of various stakehold-
ers has given them this right and therefore it expects from
them to use them to for serving the interests of all of them.
Though all stakeholders including the society in general
are affected by the business activities of a corporate enter-
prise, managers may not acknowledge responsibility to
them. Social responsibility of business implies that corpo-
rate managers must promote the interests of all stakehold-
ers not merely of shareholders who happen to be the so
called owners of the business enterprises. We have de-
picted the various stakeholders whose interests have to be
served by the corporate enterprises. In what follows we
explain in detail how the interests of various stakeholders
are to be served and promoted.
Responsibility to Shareholders
As explained above in the context of good corporate gover-
nance a corporate enterprise must recognise the rights of
shareholders and protect their interests. It should respect
shareholders’ right to information and respect their right to
submit proposals to vote and to ask questions at the an-
nual general body meeting. The corporate enterprise should
observe the best code of conduct in its dealings with the
shareholders. However, the corporate Board and manage-
ment try to increase profits or shareholders’ value but in
pursuing this objective, they should protect the interests of
employees, consumers and other stakeholders. Its special
responsibility is that in its efforts to increase profits or share-
holders’ value it should not pollute the environment.
Responsibility to Employees
The success of a business enterprise depends to a large
extent on the morale of its employees. Employees make
valuable contribution to the activities of a business
organisation. The corporate enterprise should have good
and fair employment practices and industrial relations to
enhance its productivity. It must recognise the rights of
workers or employees to freedom of association and free
collective bargaining. Besides, it should not discriminate
between various employees.
The most important responsibility of a corporate enterprise
towards employees is the payment affair wages to them
and provide healthy and good working conditions. The busi-
ness enterprises should recognise the need for providing
essential labour welfare activities to their employees, espe-
cially they should take care of women workers. Besides,
the enterprises should make arrangements for proper train-
ing and education of the workers to enhance their skills.
However, it may be noted that very few companies in India
follow many of the above good practices. While the cap-
tains of Indian industries generally complain about low pro-
ductivity of their employees, little has been done to ad-
dress their problems. Ajith Nivard Cabraal rightly writes, “It
should perhaps be realised that corporations can only be
as effective and efficient as its employees and therefore
steps should be taken to implement such reforms in a pro-
active manner, rather than merely attempting to comply with
many labour laws that prevail in the country. This is prob-
ably one area where good governance practices could make
a significant impact on the country’s business environment.”
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Responsibility to Consumers
Some economists think that consumer is a king who di-
rects the business enterprises to produce goods and ser-
vices to satisfy his wants. However, in the modem times
this may not be strictly true but the companies must ac-
knowledge their responsibilities to protect their interests in
undertaking theirproductive activities. Invoking the notion
of social contract, the management expert Peter Drucker
observes, “The customer is the foundation of a business
and keeps it in existence. He alone gives employment. To
meet the wants and needs of a consumer, the society en-
trusts wealth-producing resources to the business enter-
prise”.
In view of above, the business enterprises should recognise
the rights of consumers and understand their needs and
wants and produce goods or services accordingly. The fol-
lowing responsibilities of business enterprises to consum-
ers are worth mentioning.
1. They should supply goods or services to the consumers
at reasonable prices and do not try to exploit them by form-
ing cartels. This is more relevant in case of business enter-
prises producing essential goods such as life-saving drugs,
vegetable oil and essential’ services such as electricity sup-
ply and telephone services.
2. They should not supply to the consumers’ shoddy and
unsafe products which may do harm to them.
3. They should provide the consumers the required after-
sales services.
4. They should not misinform the consumers through inap-
propriate and misleading advertisements.
5. They should make arrangements for proper distribution
system of their products so as to ensure that black-mar-
keting and profiteering by traders do not occur.
6. They should acknowledge the rights of consumers to be
heard and take necessary measures to redress their genu-
ine grievances.
Despite the above responsibilities which are generally re-
garded as good marketing practices by management ex-
perts the business enterprises in India generally do not pay
heed to them and as a result consumers are dissatisfied or
disappointed in a large number of cases. There has been a
growing awareness of consumer rights. The organised
movement to protect consumer rights which is termed as
consumerism has been the result of the negligence of busi-
ness enterprises to their responsibilities to consumers. Be-
sides, due to the indifferent attitude of business enterprises
to consumer rights, Government has been compelled to
enact Consumer Protection Act to protect consumers’ rights
and to prevent their exploitation by the businesses.
Obligation towards the Environment
The foremost responsibility of business enterprises is to
ensure that they should not damage the environment and
for this purpose they should reduce as much as possible
air and water pollution by their productive activities. They
should not dump their toxic waste products in rivers and
streams to avoid their pollution. Pollution of environment
poses a great health hazard for the people and is a cause
of several respiratory and skin diseases. In economic theory
pollution of environment is regarded as social cost that must
be minimised. There is now a growing awareness towards
reduction in environment pollution. According to the recent
findings the climate change is occurring due to greater
emission of carbon dioxide and other pollutants. Therefore,
the corporate enterprises should adopt high standards of
environmental protection and ensure that they are imple-
mented regardless of enforcement of any environment laws
passed by the government. Many countries including India
have passed laws to protect the environment but they are
not properly and strictly enforced. Business enterprises in
their attempt to maximise profits recklessly and negligently
pollute the environment. Therefore, it is required that gov-
ernment should take tough measures and enforce environ-
ment laws strictly if environment is to be protected.
Responsibility to Society in General
Business enterprises function by public consent with the
basic objective of producing goods and services to meet
the needs of the society and provide employment to the
people. The traditional view is that in performing this func-
tion businesses maximise profits or shareholders’ value and
doing so The above views of Dr. Manmohan singh show
that corporate businesses in India do not show any sense
of social responsibility and due to oligopolies, informal col-
lusion and other malpractices fleece the customers by charg-
ing higher prices in order to maximise their profits. This is
clearly refutation of Friedman’s view that profit maximisation
always implies social responsibility of business.
Business enterprises have a lot of responsibility to the so-
ciety at large. We mention below some of them.
1. To take appropriate measures to reduce level of pollution
and adopt eco-friendly technologies.
2. To generate sufficient employment opportunities so as
to make good contribution to the reduction of poverty in the
country.
3. Respect the rights of workers and other employees and
take appropriate measures to ensure their safety and to
improve their working conditions.
4. To provide quality healthcare to their employees.
5. To invest adequately in the research and development so
as to make innovations to improve their productivity.
Dr. Manmohan Singh in the speeches referred to above adds
the following social responsibilities of the corporate enter-
prises in India :
6. Do not pay excessive remuneration to promoters and
senior executives as it creates social resentment.
7. To end cartels that keep prices high!
8. To implement affirmative action and to provide jobs to
SCs, STs and OBCs. Besides, Dr. Manmohan Singh wants
the private corporate sector to give preference to minori-
ties, especially Muslims in providing employment.
9. To resist to pay bribes to officials and therefore do not
promote corruption. He thus says, “Corruption need not be
the grease that oils wheels of progress. There are many
successful companies today that have refused to yield to
this temptation. Others must follow “.
Conclusion. Social responsibility is related to the concept
of ethics. Ethics is the discipline that deals with moral du-
ties and obligations. Social responsibility implies corpo-
rate enterprises should follow business ethics and work for
not only to maximise their profits or shareholders’ value but
also to promote the interests of other stakeholders and the
society as a whole.
Two instances of lack of social responsibility of business
witnessed in India are worth mentioning. One refers to
Bhopal Gas Leak Tragedy. On Dec. 2, 1984 in a pesti-
cide factory located in Bhopal and owned by a multina-
tional corporation ‘Union Carbide Limited (UCL), there was
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a leakage of poisonous gas from factory which resulted in
the death of more than 2000 poor people and about 2 lakh
persons were badly injured and crippled. This was due to
the non-installation of safety measures by the company.
Union Carbide tried to show that it was not responsible . A
long legal battle was fought and ultimately Union Carbide
was held responsible by the court and was asked to pay
$650 millions to the victims as damages.
Another recent famous case of social irresponsibility of
business is that of Uphaar Cinema Hall tragedy on June
13, 1997. Starting from the transformers installed in the
premises of the Hall the fire broke out and smoke spread in
the Hall which resulted in the death of 59 persons and more
than 200 persons were seriously injured who were seeing a
movie there. The deaths and injuries were due to the fact
that owners and managers had closed the exit points with
installation of extra seats which violated the Cinema Act
provisions. Besides, the installation of electricity transform-
ers in the premises also violated the safety norms pre-
scribed. After a ten year long battle a Sessions Court held
the owners (Ansal Brothers who run a famous building com-
pany), managers of the Hall and DESU officials who per-
mitted the irregularities were held responsible and sen-
tenced. They put their customers to risk of life violating all
safety norms required to be followed in relation to cinema
business.
The above two examples should serve as a wake-up call for
Indian Corporate businesses that they should discharge
their responsibility to their customers, employees, other
stakeholders and society at large.
USEOFCOMPUTERSINMANAGERIALAPPLICATIONS
What is a Computer
The word “Computer” comes from the word compute which
means to calculate. So a computer is normally considered
to be a calculating device that can perform arithmetic op-
eration at an enormous speed. But more accurately, a com-
puter may be defined as a device that operates upon data.
Data can be anything, like bio-data of several applicants
when the computer is used to assist us for recruiting per-
sonnel. Similarly, the data can be the details of passen-
gers such as name, age, etc. when the computer is em-
ployed for making airline or railway reservations.
The two basic types of computers are the analog and the
digital. The analog computer handles or process informa-
tion which is of a physical nature, as for example, tem-
perature, pressure, etc. The digital computer process in-
formation which is essentially in a binary or two-state form
namely, zero and one. When talking about computers, we
mostly refer to the digital type electronic machines.
Digital computers fall into ranges called microcomputers,
minicomputers, mainframes, and supercomputers classi-
fied in ascending, order of size—small, medium, large and
very large.
Characteristics of Computers
Computer display the following characteristics depending
on their type of use :
(a) The ability to perform calculations at a fast speed and
to store that information for future retrieval or use.
(b) The ability to take in information and to store that infor-
mation for future retrieval or use.
(c) The ability to take in and store a small variety of instruc-
tions for computers to obey.
(d) The ability to use simple logical rules to make deci-
sions for their own internal control or for the control of some
external activity.
(e) The ability to communicate with other computer sys-
tems.
(f) To carry out calculations accurately and speedily.
Applications of Computers
Computers may be used in the following fields/ institutions:
(a) Offices
(b) Book Publications
(c) Data Analysis
(d) Graphics
(e) CAM (Computer Aided Manufacture)
(f) Data Base Management
(g) Project Management
(h) Communications
(i) Education
(j) Medical Field
(k) Airways and Railways Ticket Reservations
(/) Industrial Control and Instruments
(m) Military
(n) Banks
(o) Designs and Research Work
(p) Other Applications
(a) Office Uses: The work done in offices is generally, the
preparation of letters, reports, memoranda, copy of adver-
tisement, publicity, minutes, contracts, forms, notes etc.
All these tasks can be performed by computers more effi-
ciently. Small offices, organizations and institutions can
afford to have a personal computer because of its low price.
A high end PC personal computer costs in the range of Rs.
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35,000 to Rs. 50,000. This type of computer can help user
in reports preparation, storing and retrieving and displaying
of test. Word processing package like Microsoft Office 2000,
Word Perfect, Word Pro etc. are available that help users
to write, edit, manipulate, store, retrieving, display, and print
the text. The paperless office needs much less office space
and lesser number of workers to do the same job more
smartly.
(b) Publication of Books (Desk Top Publications): Au-
thors prepare manuscripts of books using Word process-
ing programs. Tests is stored on a floppy disk and format-
ted by specialized personnel called type-setters.
These are then printed using laser printers. Laser printers
produce high quality print and the final copy is called the
camera ready copy (CRC). These prints are sent to the
offset press for printing purposes and then binding is done
at the binding centres. The cover page of the books are
made by artists or they are also designed using another
graphic software such as corel DRAW. The cover is then
sent for printing in another type of printing press which is
specialized only in colour printing. Illustrations, pictures and
tables are also created on specialized softwares such as
Auto CAD. Such figures and diagrams are then imported
and pasted in the text of the book using a word processor.
These jobs are done very fast. Thus book publishing is revo-
lutionized by computers.
(c) Data Analysis:Special software called spreadsheet pro-
gram are used for data analysis. Data are entered in rows
and columns in a spreadsheet. Using spreadsheet program
one can tabulated results, and carry out interpolation of
results such as the likely profits of the company based on
the sales and expenses. These results are then compared
by the actual results and corrections are accordingly ap-
plied from time to time. One can prepare product sales,
profit, investment. Similarly, statistical packages are avail-
able for any kind of computation for data analysis. They
have functions to calculate average, maximum and mini-
mum, mean, mode and median values etc. They can ac-
cept data from other files and sort, merge and manipulate
data as needed.
(d) Graphics: Computers are being used to make draw-
ings, graphics and pictures. Corel DRAW, Harvard Graph-
ics and Freelance Plus for Windows are some such soft-
ware packages which help an artist in increasing his draw-
ing capability. Preparation of drawings is a time consuming
task if it is done by draftsman. But computers can draw
sophisticated drawings in minutes. It can produce three-
dimensional pictorial views. Graphics such a’s bar graphs,
pie charts and line graphs are plotted from spreadsheet
data and other tabulated form of stored data. Graphics pack-
ages are also used to recognize picture, process images,
draw pictures etc.
(e) Computer Aided Manufacture: Computers are used
to control production of engineering items, chemical pro-
cesses etc. Designers use Computer Aided Design
softwares to design machines and machine parts which
are likely to be manufactured in large numbers. Computers
are also used to control manufacturing machines such as
lathes, drill or milling machines. Integrated approach of
Computer Aided Design (CAD) and Computer Aided Manu-
facture (CAM) is used in automated factories. The design-
ers design new machines using CAD. There are softwares
packages to get design information from the CAD design
database and convert them automatically into other pro-
grams which activate and control manufacturing machines
such as lathes, drills, milling machines etc. A series of
computer-controlled machines perform the whole task of
production. Maruti Udyog in Gurgaon (Haryana) in India for
the manufacturing and assembly Maruti Cars.
(f) Database Management:Computers are used to handle
files which store a variety of information. The terms data-
base is used to refer to one or more related files. Informa-
tion can be seen on the computer screen. To handle files,
database management packages are widely used. Let us
suppose a computer stores information in a file regarding
students, e.g. name of the students, roll number, marks
subject wise, total percentage of marks subject wise, per-
centage of total, division awarded etc. If one asks com-
puter to print the list of students who have secured total
marks 75% and above, computer will be able to do so very
easily. One can also ask it to print the names of the stu-
dents who have secured the highest marks in different sub-
jects. A database management system can provide infor-
mation from more than one related files.
A user would like to have certain information which is not in
a single file. The program will search all the required infor-
mation from different files and supply it to user. Take an
example of records maintained by an advocate. He main-
tains two files. One file contains the records of different
clients. It may be named as client file. It records client
number, client identification number, name of the client,
address, phone number, amount due etc. He maintains an-
other file which keeps the records of different cases. It may
be named as the case file. It records case number, identifi-
cation number of the client of different cases, attorney, court,
judge, opening date, court date etc. Suppose the advocate
wants information about which cases are to be taken up on
a particular date, the details of the cases and details of
clients to obtain information requires searching both the
files—client files as well as case file. The software pack-
age will collect information from both the files. The case file
gives the information about the cases that are due on a
particular date. It also gives the identification numbers of
the client corresponding to each case. For these identifica-
tion numbers the details of clients are obtained from the
client file. The information so retrieved is given to the user
in a very short time.
(g) Project Management: A project work has a series of
tasks which must be completed in scheduled time. Com-
puters can be used to manage project work to plan, sched-
ule and control man power, material and other resources
needed to complete the project work in time at reasonable
cost. What are the tasks to be performed, the sequence in
which tasks are to be performed, time required to complete
each task and the starting data—all this information should
be supplied to the computer. The project management pack-
age shows the longest sequence of events in the project
called critical path. It calculates total project time. In case
a project lags behind the schedule, speed can be increased
to reduce the time of completion of one or more tasks on
the critical path to catch up the schedule. Project manage-
ment package will show the impact of the delay. It will
quickly show the modified schedule. It will also show the
increased man power required for completing project in time.
(h) Communications:Computers are extensively used in
sending and receiving information ...........