Delegation of authority is necessary in all types of organizations. Reasons can be seen through the importance.
The importance of delegation of authority may be outlined as follows :
1. Reduced workload of managers : Delegation of authority permits a manager to share his workload with his subordinates. By passing on the routine work to the subordinates, the manager is able to concentrate on more important aspects of his subordinates and is able to concentrate on policy matters and decision-making. This would increase his effectiveness.
2. Effective management : The manager who delegates authority can perform much more than the one who does not. This is because the manager can get some work done by his subordinates and is able to concentrate on policy matters and decision-making. This would increase his effectiveness.
3. Motivation of employees : Delegation implies grant of authority to the subordinates along with responsibility for work. A result, subordinates have a sense of recognition. They are motivated to work for higher performance. They do their job to the best of their abilities and skills.
4. Employee development : As a result of delegation, employees get more opportunities to utilize their talent. It allows to develop those skills which will improve their career prospects. It makes them better leaders and decision makers. Thus, delegation helps by preparing better future managers.
5. Facilitates organizational growth : Delegation helps in the expansion of an organisation by providing a ready work force to take up leading positions in new ventures. Trained and experienced employees are able to play significant roles in the launch of new projects for organizational growth.
6. Quick decision-making : The subordinates are granted sufficient authority to take decisions. They need not go to their superiors again and again for taking decisions concerning the routine matters. This increases the speed of decision-making.

The reliefs available to a consumer under Consumer Protection Act,1986.
(i) To remove the defect in goods or deficiency in services.
(ii) To replace the defective good with a new one,free from any defect.
(iii) To refund the price paid for the product or the charges paid for the service.
(iv) To discontinue the unfair trade practice and not to repeat it in future.
(v) Not to offer hazardous goods for sale.

The Securities and Exchange Board of India (SEBI) was established by the government of India on 12th April 1988 with an objective to protect the interest of investors and to promote the development of and regulate the securities market.
The SEBI has many objectives, some of them are described below:
(i) To regulate stock exchange and securities industry to promote their orderly functioning.
(ii) To protect the rights and interests of investors, particularly individual investors and to guide and educate them.
(iii) To prevent trading malpractices and achieve balance between self-regulation by the securities industry and its statutory regulation.

The political environment consists of the forces concerning management of public affairs and their impact on business.It includes political conditions in the country and attitude of the government towards businesses and business policy.
For example, political unrest and threat to law and order adversely affect the confidence of investors and reduce the level of investment in the economy. 
Neet of studying political environment are:
(i) Political stability builds up confidence among business people to invest in the long-term projects.But, the instability in politics results in disinvestment.
(ii) The attitude of the government towards business also affects its performance. e.g. if government provides subsidy in the production of cotton garments, it will have positive impact on cotton textile business and vice-versa.

Here the actual deviations are more than planned acceptable deviations, so the management need to take corrective action to rectify the problems. The function of comparing actual performance with planned performance and taking corrective action is called ‘controlling’—
The steps involved in the process of controlling are —
(i) Setting Performance Standard.
(ii) Measurement of Actual Performance.
(iii) Comparing Actual Performance with Standards.
(iv) Analysing Deviations.
(v) Taking Corrective Action and re setting the performance standard.

Some of the quality certification marks are :-
a) FPO – It contains specification and quality control requirements regarding the production and marketing of processed fruits and vegetables, sweetened aerated water, vinegar and synthetic syrups. b) ISI – on consumer durable products.
c) Hall Mark – BIS certification scheme gold jewellery items.
d) Earthen pitcher – for labeling environment friendly products.
e) AGARK – It is a grade standard for agricultural commodities and live stock products.
f) WOOL MARK – It signifies 100% pure wool.

No, I do not agree with the view of the manager.There is a great need for training due to the following reasons:
(i) It results in improved performance in terms of quality as well as quantity.
(ii) It leads to reduction in chances of accidents.
(iii) It facilitates systematic learning, resulting in reduction in wastage of resources.
(iv) It helps to build up morale and motivation of the employees.

Malpractices such as existence of self-styled merchant bankers, unofficial private placements, rigging of prices, unofficial premium on new issues, non-adherence of provisions of the Companies Act, violation of rules and regulations of stock exchanges and listing requirements, delay in delivery of shares, etc. had eroded investors' confidence and multiplied investor grievances. In order to fight with such problems, government established SEBI as a separate regulatory body.
Regulatory Functions
(i) Registration of brokers, sub-brokers and other players in the market.
(ii) Registration of collective investment schemes and mutual funds.
(iii) Regulation of stock brokers, portfolio exchanges, underwriters and merchant bankers and the business in stock exchanges.
(iv) Regulation of takeover bids by companies.
(v) Levying fee or other charges for carrying out the purposes of the Act.
(vi) SEBI conducts inspections, enquiries and audits of stock exchanges.
(vii) Perform and exercise such power under Securities Contracts (Regulation) Act 1956, as may be delegated by the government of India.

(i) Welfare of the family/society
(ii) Protection, care for the society
(iii) Reduction of prevalent social evil
(iv) Abiding the law

i) Harmful for health
ii) Adulteration is violation of law
iii) False information to consumers.

Formal organisation

Commercial paper is a source of bridge financing. Bridge financing refers to short term funds for seasonal and working capital needs. Le it may be used as an associated source of financing. If a company needs long term finance buy machinery it must raise these finds from the capital market. For this company must incur floatation costs – brokerage commission funds used to finance such needs over called bridge financing.

The other name given to Zero Coupon Bonds is ‘Treasury Bill’s. They are called zero coupon as they are issued at a price less than the face value but are repaid at par.

The following diagram shows the example of individual needs and organizational needs in relation to Maslow’s need hierarchy

In Horizontal Communication two departmental heads communicate with each other.
Flow of communicate between persons holding position at the same level of the organisation is known as horizontal communication.