Under this method trainees are explained the situation and assigned roles. They have to act out the roles assigned without any rehearsal. For example, the role of customer and salesman, management and union leader, foreman and worker etc. may be played in the training session.

Universally relevant :
Human Resource Management has universal relevance.
Goal Oriented :
The accomplishment of organizational goals is made possible through best utilization of human resource is an organization.

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

(i) Certificate of Deposits are short-term deposit instruments issued by banks and financial institutions to raise large sums of money.
(ii) Certificate of Deposits are issued in the form of usance promissory notes.
(iii) The Certificate of Deposit is transferable from one party to another.
(iv) Due to their negotiable feature, they are also known as negotiable certificate of deposit.

(i) Financial institutions that provide facilities for channeling savings, of small investors into avenues of productive investments are called Mutual Funds.
(ii) A mutual fund company invests the funds pooled from shareholders and gives them the benefit of diversified investment portfolio and a reasonable return

(i) Controlling is performed to evaluate the performance of employees and deciding increments and promotion decisions.
(ii) The control function helps in identifying under performers and arranging remedial training for them.

(i) Manager is a dynamic and life-giving element in every business.
(ii) Without efficient management it cannot be secure the best allocation and utilisation of human, material and financial resources.

The importance of consumerism lies in
(i)  Awakening and uniting consumers.
(ii) Discouraging unfair trade practices.
(iii) Protecting against exploitation.
(iv) Awakening the government.
( v) Effective implementation of consumer protection laws.
 

The following are the objectives of E-Marketing:
(i) Expansion of market share
(ii) Reduction of distribution and promotional expenses
(iii) Achieving higher brand awareness.
(iv) Strengthening data - base

Treasury bills are issued to the public and other financial ínstitutíons for rneeting the short-tern financial requirernents of theCentral Governnent. These bills are freely rnarketable and they can be bought and old at any tíme and these bilis are tradable in secondary market as well.
On the basis of periodicity, Treasury bills maybe classified into three. They are:
     (a) 91 days Treasury bills
     (b) 182 days Treasury bills and
     (c) 364 days Treasury bills
(i)Ninety one days Treasury bills are issued at a fixed discount rate of 4 per cent as well as through auctions.
(ii)The RBI holds 91 days and 182 days Treasury bills and they are issued on tap basis throughout the week.
(iii)364 days Treasury Bills do not carry any fixed rate.The discount rate on these bills are quoted in auction by the participants and accepted by the authorities. Such a rate is called cut off rate.

The functions of capital market are as follows:
(i) Factoring Institutions:
(a) "Factoring" is an arrangement whereby a financial institution provides financial accommodation, on the basis of assignment/sale of account receivables.
(b) The factoring institutions collect the book debts for and on behalf of its clients.
(c) Some of the factoring institutions operating in India are SBI Factors and Commercial Services Private Limited, a subsidiary of State Bank of India and Canbank Factors Limited, a subsidiary of Canara Bank.
(ii) Venture Fund Institutions:
(a) Venture capital financing is a form of equity financing designed especially for funding new and innovative project ideas.
(b) Venture capital funds bring into force the hi-technology projects which are converted into commercial production.
(c) Many specialized financial institution have promoted their own venture capital funds. They include Risk Capital Foundation of IFCI, Venture fund of IDBI, SIDBI Technology Development Infrastructure Corporation of India (TDICI) and others.

Three process of MB0 are
(i) Defining Organisational Objectives.
(ii) Goals of Each Section.
(iii) Fixing Key Result Areas.

(i) Staffing function comprises the activities of selection and placement of competent personnel.
(ii)In other words, Staffing refers to placement of right persons in the right jobs.
(iii) Staffing includes selection of right persons, training to those needy persons, promotion of best persons, retirement of old persons, performance appraisal of all the personnel, and adequate remuneration of personnel.
(iv) The success of any enterprise depends upon the successful performance of staffing function.

According to Koontz and Weihrich, "Management is the process of designing and maintaining of an environment in which individuals working together in groups efficiently accomplish selected aims.

(i) Right to Protection of Health and Right of Safety:
1. There may be few products that are more likely to cause physical danger to consumers health, lives and property.
2. They may contain potentially harmful substances which are dangerous from the consumer welfare point of view
(ii) Right to be Informed:
1. Consumers should be given all the relevant facts about the product so that they can take intelligent decisions on purchasing the product.
2. The package should contain the full details about the name of the product, composition, dosage, date of manufacturing, date of expiry, batch number, warnings, antidose etc.
(iii) Right to choose:
1. Consumer satisfaction is the ultimate aim of modern marketing and is the philosophy of marketing concept.
2. Consumer satisfaction can be increased by giving the consumer the widest choice.
3. The term 'Choice' means offering the widest range of products in quality and brand varieties.
(iv) Right to be heard :
1. Consumers have every right to ventilate and register his or her dissatisfaction.
2. Business enterprises should lend a compassionate ear to complaints or grievances of consumers.
(v) Right to seek Redressal :
1. The complaints and protests are not just to be heard but the aggrieved party is to be granted compensation within a reasonable time period .
2. This will boost consumer confidence and help render justice to buyers.
(vi) Right to consumer education :
1. The consumer has a right to acquire knowledge and stay well-informed all through his life.
2. Many consumer organisations and some enlightened businesses are taking a pro active part in educating consumers in this respect.
(vii) Right to Quality of Life
1. Quality of life refers to the preceived well-being of people, in groups and individually and well-being of the environment in which these people live.
2. Consumerism has been defined as 'an improved quality of life'.
(viii) Right to Consumer Protection
The consumer has a right to be aware of his rights and remedies available to him, redress his grievances through publicity in the mass media.
(ix) Right to Basic Needs
1. Every consumer has a right to get basic necessities of life such as food, clothing and water, and right to pure and healthy environment.
2. Community life should be free from various modes of pollution.

(i) Warehouses create time utility by storing the goods throughout the year and releasing them as and when they are needed.
(ii) Several types of warehouses are used for storage of goods, which are as follows.
(iii) (1) Private warehouses,
(2) Public warehouses and
(3) Bonded warehouses.
(iv) Depending on your requirements of space and goods you can get your warehouses.
(v) Warehouses helps in storing of goods in a proper place for the time between production and consumption.

There are basically two ways by which an organisation can recruit its employees namely internal and external sources. External sources can further be classified into Direct and Indirect sources.
(i) Internal Sources: The following are the internal sources of recruitment.
(a) Transfer
(b) Upgrading
(c) Promotion
(d) Demotion
(e) Recommendation by existing employees
(f) Job rotation
(g) Retention
(h) Retired employees
(i) Dependants
(j) Previous applicants
(k) Acquisitions and mergers
(ii) External Sources:
(a) Direct: Advertisements, unsolicited applicants, walk ins, campus recruitment, Recruitment at factory gate, Rival firms, e-Recruitment.
(b) Indirect Exmployee referral, Government / Public Employment Exchanges, Employment agencies, Employment consultancies, Professional Associations, Deputation, Word of mouth, Labour contractors, Job portals, Outsourcing, . Poaching

The various features of stock exchanges are as follows:
(i) Market for securities :
Stock exchange is a market, where securities of corporate bodies, government and semi-government bodies are bought and sold.
(ii) Deals in second hand securities :
(a) It deals with shares, debentures, bonds and such securities already issued by the companies.
(b) In short, it deals with existing or second hand securities and hence it is called secondary market.
(iii) Association of persons :
A stock exchange is an association of persons or body of individuals which may be registered or Unregistered.
(iv) Recognition from central Government :
Stock exchange is an organised market. It requires recognition from the Central Government.
(v) Working as per Rules :
(a) Buying and selling transactions in securities at the stock exchange are governed by the rules and regulations of stock exchange as well as SEBI Guidelines.
(b) No deviation from the rules and guidelines is allowed in any case.

Management by exception provides the following
advantages.
(i) It saves the time of managers because they deal only with exceptional matters. Routine problems are left to subordinates.
(ii) It focuses managerial attention on major problems. As a result, there is better utilisation of managerial talents and energy.
(iii) It facilitates delegation of authority. Top management concentrates on strategic decisions and operational decisions are left to the lower levels.
(iv) It is a technique of separating important information from unimportant one. It forces managers to review past history and study related business data for identifying deviations.
(v) MBE keeps management alert to opportunities and threats by identifying critical problems. It can avoid uninformed and impulsive action.
(vi) Management by exception provides better yardsticks for judging results. It is helpful in objective performance appraisal.

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.

There are five parts of management as a process
1. Management is Co-ordination:
(i) The manager of an enterprise must effectively co-ordinate all activities and resources of the organisation.
(ii) Namely, Men, Machines, Materials and Money the Four M's of Management.
2. Management is a Process :
(i) The manager achieves proper co-ordination of resources by means of the managerial functions.
(ii) Planning, Organising, Staffing, Directing (or leading and motivating) and controlling.
3. Management is a Purposive Process:
(i) It is directed toward the achievement of predetermined goals or objectives.
(ii) Without an objective, we have no destination to reach or a path to follow to arrive at our destination
(ii) Example; A goal, both management and organisation must be purposive or goal-oriented.
4.  Management is a Social purpose:
It is the art of getting things done through other people.
5. Management is a Cyclical Process:
It represents planning action-control-re-planning cycle. (i.e.,) an ongoing process to attain the planned goals