The main objectives of Company Law 1956 are:
(i) To sustain the trust and faith of Shareholders
(ii) To protect and preserve the rights of Shareholders
(iii) To have drastic control over all the activities of the company
(iv) To make regulation of an effective Annual Meeting,
(v) The investment of the general public should be used for the development of society or social welfare activities.

The recent methods of recruiting by organisations include the following methods:
(i) Outsourcing: There are outsourcing firms that help in the process of recruiting through screening of applications and finding the right person for the job for which job they are paid service charges.
(ii) Poaching: Organisations instead of training and developing their own employees, hire employees of other competitive companies by paying them more both financial and non-financial benefits. It is called raiding.

A complaint may be made in writing under the following circumstances:
i) Loss or damage is caused to the consumer due to unfair trade practice of a trader.
ii) If the article purchased by a consumer is defective.
iii) If the services availed of by a consumer suffer from any deficiency.
iv) When the price paid by a consumer excess of the price displayed on the goods or when the price is in excess of the price fixed under any law in force.
v) Goods, which will be hazardous to life and safety, when used are being offered for sale to the public in contravention of the provisions of any law.

(i) Values system:
The values ofthefounder/ owner of the business . percolates down to the cutire organisation and has a profound eflect on the organisation. The success of an organisation depends uponthe sharing of value system by all members.
(ii)Vision and objectives :
The vision and objectives of a business guides its operations and strategic decisions. Exanple :Amul the taste of India' Gujarat Co-operative Milk Marketing Federation (GCMMF).
(ii) Company image :
The image of an organisation plays an important role in introducing new products, selecting agents, and dealers for distribution forging allances with suppliers, expanding and entering new markets both domestic and international and raising finance, etc.

(i) Gathering and analysing market information
(ii) Market planning
(iii) Product designing and development
(iv) Standardisation and grading
(v) Packaging and labelling
(vi) Branding
(vii) Customer support services
(viii) Pricing of products
(ix) Promotion and selling
(x) Physical distribution
(xi Transportation
(xii Storage and warehousing

(i) This type of interview is conducted to test the temperament and emotional balance of the candidate interviewed.
(ii) Interviewer deliberately creates stressful situation by directing the candidate to do irrational and irritating activities.
(iii) They assess the suitability of the candidate by observing the reaction and response of the candidate to the stressful situation.
(iv) Mostly this type of interview is conducted for recruiting sales representatives, staff for defence and law enforcement agencies

(i)Dematerialization is the process by which physical share certificates of an investor are taken back by the company/registrar destroyed.
(ii)Dematerialization is done at the request of the investor. Investors will first have to open an account with a DP (Depository Participant) and then request for dematerialization of certificates through the DP.
(iii)Purchases made by an investor are credited to his account and sales are debited. All the holdings of a particular security will be identical and interchangeable.
(iv)Trading in dematerialized shares commenced on the NSE in December, 1996, where Reliance Industries was the first company to trade its 100 shares in demat form.

Bull :
(a) A Bull or Tejiwala is an operator who expects a rise in prices of securities in the future.
(b) In anticipation of price rise he makes purchases of shares at present and other securities with the intention to sell at higher prices in future.
(c) He is called bull because just like a bull tends to throw his victim up in the air, the bull stimulates the price to rise. He is an optimistic speculator.
Bear :
(a) A Bear or Mandiwala speculator expects prices to fall in future and sells securities at present with a view to purchase them at lower prices in future.
(b) A bear does not have securities at present but sells them at higher prices in anticipation that he will supply them by purchasing at lower prices in future. A bear is a pessimistic speculator.

Capital market is divided into two i.e. primary market and secondary market.
(i) Primary Market
(a) Primary Market is a market for new issues or new financial claims. Hence, it is also called New Issue Market.
(b) The primary market deals with those securities which are issued to the public for the first time.
(c) In the primary market, borrowers exchange new financial securities for long term funds.
​​​​(d) There are three ways by which a company may raise capital in a primary market.There are:
  a) Public Issue
  b) Rights Issue
  c) Private Placement
(ii) Secondary Market :
(a) Secondary Market may be defined as the market for old securities.
(b) Securities which are previously Issued in the primary market are traded here.
(c) The trading takes place between investors who follow the original issue in the primary market.

(i) The Span ofManagement has two implications:
1. Influences the complexities of the individual manager's job
2. Determine the shape or configuration of the Organization
(ii) The span of management is related to the horizontal levels of the organization structure, There is a wide and a narrow span  of management.
(iii) With the wider span, there will be lesshierarchical levels,and thus, the organizational structure would be flatter.
(iv) Whereas,with the narrow span, the hierarchical levels increases,hence the organizational structure would be tall.
 

Secretary has to discharge non-statutory functions in relation to directors, shareholders and office and staff. These functions are briefly mentioned.
(a) Functions as an agent of directors;
(b Functions towards shareholders;
(c) Functions towards office and staff.
(i) Functions in Relation to Directors: A company secretary acts under the full control of the board of directors and carries out the instructions of the directors. The secretary provides necessary advice and information to the board to formulate company policy and arrive at decisions.
(ii) Functions in Relation to Shareholders: The company secretary must serve in the best interests of the shareholders.
(iii) Functions in Relation to Office and Staff: The Secretary is the kingpin of the whole corporate machinery. He is responsible for the smooth functioning of the office work. He exercises overall supervision, control, and coordination of all clerical activities in the office.

1. It increases chances new talents and skills.
2. It would create a healthy competition among the employees.
3. The new employees wotild be existing employee of some other organisation. It will be in ideas of other industries.
4. It would avoid the problem between the existing employees.
5. This increased chance provides better availability of skilled and qualified employee.
6. One common things they look for is a well experienced and qualified candidate.
7. The recruitment is done in a fair manner equally for all candidates where internal politics are avoided

Managerial Functions
(i) Planning: Under planning, the entrepreneur has to lay down the objectives, goals, vision, mission, policies, procedures, programs, budget, schedules, etc., for enabling the venture to proceed towards established destinations.
(ii) Organizing: Entrepreneur puts in place suitable organizational structure to perform various managerial functions namely choosing the type of organization, creating department, fitting the human resources to appropriate organization slots, defining and delegating authority, distributing responsibility and creating accountability for the efficient performance of activities.
(iii) Directing: The process of directing involves issuing orders and instructions, guiding, counseling and mentoring of employees, supervising employees, maintaining discipline, motivating employees and providing leadership.
(iv) Controlling: The various steps involved in control function includes fixing performance standards, measuring the actual performance, comparing actual performance with standards, finding out causes for deviation if any, undertaking corrective measures to bring actual performance to standards set.
(v) Coordination: Entrepreneur has to evolve a mechanism to pull together the diverse functions performed by various departments or teams and direct them towards the established goals of the organization for accomplishment.

As of 2016, there are 60 stock exchanges in the world. Of these, there are 16 exchanges with a market capitalization of dollar1 trillion or more, and they account for 87% of global market capitalization. Apart from the Australian Securities Exchange, these 16 exchanges are all in North America, Europe, or Asia.

The process of MBO is explained below:
(i) Defining Organisational Objectives: Initially, organisational objectives are framed by the top level employees of an organisation. The definition of organisational objectives states why the business is started and exists.
(ii) Goals of Each Section : Objectives for each section, department or division are framed on the basis of overall objectives of the organisation. Goals or objectives are expressed in a meaningful manner.
(iii) Fixing Key Result Areas: Key result areas are fixed on the basis of organisational objectives premises. Key Result Areas (KRA) are arranged on a priority basis. KRA indicates the strength of an organisation.
(iv) Setting Subordinate Objectives or Targets : The objectives of each subordinate or individual are fixed. It is preferable to fix the objectives at lower level in quantitative units. There should be a free and frank discussion between the superior and his subordinates.
(v) Matching Resources with Objective : The objectives are framed on the basis of availability of resources. If certain resources (technical personnel or scarce raw material) are not adequately available, the objectives of an organisation are changes accordingly.
(vi) Periodical Review Meetings: The superior and, subordinates should hold meetings periodically in which they discuss the progress in the accomplishment of objectives.
(vii) Appraisal of Activities: At the end of the fixed period for achieving the objectives, there should be a discussion between the superior and subordinates.

(i) Coachin Method: In the coaching method of training, the superior teaches or guides the new employee about the knowledge and skills relevant to a given job. In this method superior plays the role of coach or guide and an instructor.
ii) Mentoring method : Mentoring is the process of sharing knowledge and experience of an employee. Mentoring is always done by senior person, it is also one-to-one interaction, like coaching. It is mostly used for managerial employees.
(iii) Job Rotation Method : Job rotation is an important method for broadening the knowledge of executives. Under this method, a trainee is periodically shifted from one work to another work and from one department / division to another department / division for a particular period of time.
(iv) Job Instruction Techniques : In this method, a trainer superior gives some instructions to an employees to how to perform his job and its purpose.
(v) Apprenticeship Training Method : The apprentice or trainee learns the job knowledge and skills from the trainer or superior or senior worker. Generally, the apprenticeship training is given to , the technical cader like that Mechanics, Electricians, Craftsmen, Welders, Fitter etc.

(i) The market scenario in the world today is changing very rapidly.
(ii) The boundaries of nations are disappearing for exploiting the opportunities of business.
(iii) Today's customers are global and exhibit international characteristics. Because of developments of information technology, rapid means of transportation, liberalization, and mobility of people across the world, their buying habits are fast varying and so are the fortunes of various organisations.
(iv In the Globalised business environment, the marketer must move goods faster and quicker to satisfy the consumers needs and wants by serving the best quality goods and services.
(v) Therefore marketers are shifting from transaction thinking to relationship building and also focusing on life long customers.
(vi) So, marketer has given more emphasis on the notion, "offer more for less" and adopt different strategies to satisfy the consumers.
(vii) They use a variety of tools like computers, laptops, tablet and smart or android phone devices to access different websites.
(viii) Besides the social media networks have opened new avenues of interacting with customers.

(i) Make in India:
(a) This scheme is designed to transform India into global design and manufacturing hub, the Make in India initiative was launched in September 2014.
(b) It came as a powerful call to India's citizens and business leaders, and an invitation to potential partners and investors around the world to centraliz information about opportunities in India's manufacturing sector
(ii) Atal Innovation Mission (AIM):
AIM is the Government ofIndia's endeavour to promote a culture of innovatíon and entreprerneurship,and itserves as a platform for promotion of world-class Innovatíon
Hubs, GrandChallenges, start-up businesses and other self-employment activities, particularly in technology driven areas.
(iii) Support to Training and Employment Programme for Women (STEP) : STEP was launched by the Government of India's Ministry of Women and Child Development to train women who have access to formal skill training facilities, especially in rural India.
(iv) Digital India :
(a) The Digital India initiative has been launched to moderníze the Indian economy to make all government services available electronically.
(b) The initiative aims at transforming India into a digitally-empowered society and knowledge economy with universal access to goods and services.
(v) Science for Equity Emnpowerment and
Development(SEED):
(a) SEED aims to provide opportunities tomotivated scientists and field level workers to undertake action-oriented, location specific projects for socio economic gain, particularly in rural areas.
(b) SEED emphasizes equity in development, so that the benefits oftechnology accrue to a vast section of the population, particularly the disadvantaged.

SI.No	Basis of Difference	Cheque	Bill of Exchange
1.	Drawn	A cheque can be drawn only on a particular banker.	A bill of exchange can be drawn on any person including a banker
2.	Payability	It is payable on demand only.	It is payable on demand or on the expiry of a certain period.
3.	Validity	A cheque drawn payable to bearer on |demand is perfectly valid.	A bill made payable to bearer on demand is void by virtue of section 31 of the RBI Act.
4.	Acceptance	A cheque does not require any acceptance.	In case of time bill, acceptance by the drawee is necessary before he can be made liable on it.
5.	Grace Period	No days of grace are allowed in the case of a cheque for the simple reason that is always payableon demand.	Three days of grace are allowed while calculating the maturity date in the case of time bill.
6.	Notice	Notice is not necessary for a cheque.	When a bill is dishonoured, notice of dishonour is necessary.

(i) Preliminary Interview:
This interview is conducted to know the general suitability ofthe candidates who have applied for the job.
(ii) Structure/Guided/Planned Interview :
Under this method, a series of question to be asked by the interviewer are pre prepared by the interviewer and only these questions are asked in the interview.
(iii) Unstructured Interview : This is quite contrary to structured interview. Ihere is no pre-prepared questions. appreciation test (iv) Attitude test
(iv) In depth Interview : This interview is conducted to test the level of knowledge of the interviewee in a particular field intensively and extensively.
(v)Panel Interview :
Where a group of people interview the candidate, it is called panel interview. All panel members ask different types of questions on general areas of specialisation of the candidate.

The operating functions of HRM are as follows:
(i) Procurement:
Acquisition deals with job analysis, human resource planning, recruitment, selection, placement, transfer and promotion.
(ii) Development:
Development includes performance appraisal, training, executive development, career planning and development, organisational development.
(iii) Compensation :
It deals with job evaluation, wage and salary administration, incentives, bonus, fringe benefits and social security schemes.
(iv) Retention:
This is made possible through health and safety, welfare, social security, job satisfaction and quality of work life.
(v) Integration:
It is concerned with those activities that aim to bring about reconciliation between personal interest and organisational interest.
(vi) Maintenance:
This encourages employees to work with job satisfaction, reducing labour turnover, accounting for human resource and carrying out audit and research.

The functions of SEBI are as follows:
(i) Safeguarding the interests of investors by means of adequate education and guidance.
(ii) Regulating and controlling the business on stock markets.
(iii) Conduct inspection and inquiries of stock exchanges, intermediaries and self-regulating organisations and to take appropriate measures wherever required.
(iv) Barring insider trading in securities.
(v) Prohibiting deceptive and unfair methods used by financial intermediaries operating in securities markets.
(vi) SEBI Issues Guidelines and instructions to businesses concerning capital issues.

The characteristics of government securities are discussed below:
(i) Agencies :
Government securities are issued by agencies such as Central Government,State Governments, semi-government authorities like local Government authorities,example municipalities,autonomous institution such as metroplitian,port trusts etc.
(ii) RBI Special Role:
RBI takes a special and an active role in the purchase and sale of these securities as part of its monetary management exercise.
(iii) Nature of Securities:
Securities offer a safe avenue of investment through guaranteed payment of interest and repayment of principal by the Government.
(iv) Liquidity Profile:
The liquidity profile of gilt-edged securities varies.Accordingly liquidity piofite of securities issued by Central Government is high.
(v) Tax Rebate:
A striking feature of these securities is that they offer wide-range of tax incentives to investors.This has made these securities very popular for this benefit.
(vi) Market:
As each sale and purchase has to be negotiated separately, the Gilt-Edged Market is an Over-the-Counter Market.The government securities market in India has two segments namely primary market and secondary market.

Functions of management can be classified into two categories.
A. Main functions; and
B. Subsidiary functions.
A. Main functions:
(i) Planning:
(a) Planning is the primary function of management.
(b) Nothing can be performed without planning.
(c) E.g. Writing a book starts with planning.
(ii) Organising:
(a) Organising is the process of establishing harmonious relationship among the members of an organisation.
(b) Organsing function work is assigned to employees who are given authority to carry out the work assigned and made accountable for it.
(iii) Staffing:
(a) Staffing function comprises the activities of selection and placement of competent personnel.
(b) Staffing refers to placement of right persons in the right jobs.
(iv) Directing:
(a) Directing denotes motivating, leading, guiding and communicating with subordinates.
(b) Employees are kept informed of all necessary matters by circulars, instructions man uals, newsletters, notice-boards, meeting, participative mechanism, etc.
B. Subsidiary functions:
(i) Innovation:
(a) Innovation refers to the preparation of personnel and organisation to face the changes made in the business world.
(b) Innovation includes developing new material, new products, new techniques in production, new package, new design of a product and cost reduction.
(ii) Representation:
(a) A manager has to act as representative of a company.
(b) Manager has dealings with customers, suppliers, government officials, banks, financial institutions, trade unions, etc.
(c) It is the duty of every manager to have good relation with others.
(iii) Decision-making:
(a) Everyemployee of an organisation has to take a number of decisions everyday.
(b) Decision - making helps in the smooth functioning of an organisation.
(iv) Communication:
(a) Communication is the transmission of human thoughts, views or opinions from one person to another person.
(v) Workers are informed about what should be done, where it is to be done, how it is to be done and when it is to be done.

"First directors" means those directors who hold office form the date of incorporation of the company. The first directors are usually named in the articles of association or are appointed by the directors.

Entrepreneur requires two types of finance namely long term and short term. While long-term requirements are needed for acquiring fixed assets, short-term requirement are meant for meeting working capital needs. Entrepreneur has to bring in promoters contribution (seed capital) prescribed by financing agencies.

(i) Money market is the segment of financial markets where in financial instruments having maturities of less than one year are traded.
(ii) Examples: Treasury Bills, Commercial Bills, Certificate of Deposits, Government securities etc.

Management by Exception.

Men, Machine, Money and Materials are called 4 M's.

Under section 2(1)d "Consumer means any person who buys any goods or avails services for personal use, for a consideration".

Bio data refers to the details of the applicants applied for the job. It includes the information like, Qualification, age, experience, skills, information about previous worked place, etc.

The functions of human resource management may be classified as under:
(i) Managerial function
(ii) Operative functions

According to Husband and Dockerary, "Stock exchanges are privately organized markets which are used to facilitate trading in securities."

Secondary markets allow for the determination of the price of the traded financial asset through the interaction of buyers and sellers. They provide a signal for the allocation of funds in the economy, based on the demand and supply, though the mechanism called price discovery processes.