Kinds of Meetings : Under the companies Act 2013, company meetings can be classified as under :
1. Meetings of Shareholders
      (a) Statutory Meeting
      (b) Annual General Meetings
      (c) Extraordinary General Meetings
2. Meetings of the Directors
      (a) Board meetings
      (b) Committee meetings
3. Special Meetings
      (a) Class Meetings
      (b) Creditors and of Debenture / bond holders meetings
1. Shareholders meetings :
The meeting held with the shareholders of the company is called shareholders meeting. The shareholders meeting can be classified as statutory meeting, annual general meeting and extra ordinary general meeting.
2. Meeting of the Board of Directors :
Since the administration of the company lies in the hands of the board of directors, they should meet frequently for the propper conduct of the business and to decide policy matters of the company.
3. Special Meetings :
(i) Class Meetings : Meetings, which are held by a particular class of share or debenture holders e.g. preference shareholders or debenture holders meetings is known as class meeting.
(ii) Meetings of the Creditors : Strictly speaking, these are not meetings of a company. lt is the meeting which are held by the creditors.

l. Collective duties of directors:
Directors as a part of Board perform certain duties collectively.
(i) Approval of annual accounts and authentication of annual accounts
(ii) Appointment of First Auditors
(iii) Issuance of Notice and Holding of Board meetings and shareholders meetings
(iv) Passing of resolutions at board meetings or by circulation.
2. General duties of Directors:
(i) Structuring or new policy to reach the objectives of a company.
(ii) Acting in accordance with the Articles of the company
(iii) Act in Good faith in order to promote the objects of the company
(iv) Perform duties with due and reasonable care and diligence.
3. Specific Duties of Directors
(i) Duty to disclose his name, address and occupation
(ii) Duty to disclose his shareholding and interest in Contracts of the company.
(iii) Duty to hold minimum qualification shares within two months after his appointment.
(iv) Duty to issue prospectus and fix the minimum subscription.
(v) Duty to take care that prospectus should not contain any false or misleading statement.
(vi) Duty to carry out all other activities as specified in the Act in time.

 Types of directors as per companies Act, 2013
(i) Residential Director: According to section 149(3)of Companies Act 2013. Every company should appoint a director who has stayed in India for a total Period of not less than 182 days in the previous calender year.
(ii) Independent Director: An independent director is an alternate director other than a Managing Director who is known as Whole Time Director or Nominee Director.
(iii) Small Shareholders Directors: Small shareholders can appoint a single director in a listed company.But this action needs Commerce a proper procedure like handing over a notice to at least 1,000 Shareholders or 1/10th of the total shareholders. 
(iv) Nominee Director: A director nominated by any financial Institution in pursuance of the provisions of any law for the time being in force, or of any agreement, or appointed by any Government, or any other person to represent its interests.
(v) Women Director: There should be at least one woman as a director on the Board.
(vi) Additional Directors: Any Individual can be appointed as Additional Directors by a company.
 

Debenture is a document issued by the company for acknowledging the loan from the public.Debentures are generally classified into different categories on the basis of :
(i) Convertibility ofthe Instrument
(ii) Sccurity of the Instrument
(iii) Redemption ability, and
(iv) Registration of Instrument.
(i) On the basis of convertibility :
(a) Non-convertible debentures : These instruments cannot be converted into equity shares.
(b) Partly convertible debentures : A part of these instruments are converted into equity shares.
(c) Fully convertible debentures : These are fully convertible into equity shares.
(d) Optionally convertibility debentures : The investor can have the option to either convert the debentures at a price decided by the issuer or agreed upon at the time of issue.
(ii) On the basis of security :
(a) Secured debentures : These instruments are secured by a charge on the fixed assets of the issuer company.
(b) Unsecured debentures : These instruments are unsecured against the assets.
(iii) On the basis Redeemability :
(a) Redeemable debentures : It refers to the debentures which will be redeemed in future.
(b) Irredeemable debentures : It is a debenture, in which no specific time is specified by the companies to pay back the money.
(iv) On the basis of Registration, debentures may be classified as:
(a) Registered debentures : These are ssued in the name of a particular person, who registered by the company.
(b) Bearer debentures : These are issued to the bearer and are negotiable. Instruments, and are transterred by mere delivery.
 

(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.

Challenges faced by women Entrepreneurs
(i) Problem of Finance:
(1) The access of women to external sources of funds is limited as they do not generally own properties in their own name.
(2) Because of the limited funds, women entrepreneurs are not able to effectively and efficiently run and expand their business.
(ii)Limited Mobility:
(1) Indian women cannot afford toshed their household responsibilities towards their family even after they plunge into the venture started by them.
(2) This restricts the mobility of women entrepreneur significantly.
(iii) ) Lack of Education :
Iliterate and semi-literate women entrepreneurs encounter a lot of challenges in their entrepreneurial journey with respect to maintaining accounts, understanding money matters, day-to-day operations ofthe company,marketing the products, applying technology etc.,
(2) This reduces the efficiency of operating the business successfully. 
(iv) Lack of Network Support:
The successful operation of any venture irrespective of the size depends upon the network of support extended by various constituencies like family members, friends, relatives, acquaintances, neighbours, institutions and so on.
(2) But it is reported that women entrepreneursget very limited support in times of crisis from most of these constituencies.
(v)Self Competition:
(1) Women entrepreneurs have to face acute competition for their goods trom organised sector and from their male counter parts.
(2) Since, they are not able to spend liberally due to financial constraints, they are not able to compete effectively and efliciently in the market.
(vi) Lack of Information:
Women entrepreneurs are reported not to be generally aware of subsidies and incentives available for them due to their poor literacy levels or due to their pre-occupation with household responsibilities.

 

If an endorsement is to be valid, it must possess the following requisites:
(i) Endorsement is to be made on the face of the instrument or on its back.
(ii) When there is no space for making further endorsements a piece of paper can be attached to the negotiable instrument for this purpose.
(iii) If the endorsee's name is wrongly spelt, the endorsee should sign the same as spelt in the instrument and write the correct spelling within brackets after his endorsement.
(iv) Endorsement for only a part of the amount of the instrument is invalid.
(v) Endorsement is complete only when delivery of the instrument is made.
(vi) It is presumed that the endorsements appearing on a negotiable instrument were made in the order in which they appear thereon.
(vii) Signing in block letters does not constitute regular endorsement.

SI.No	Basis of Difference	Conditions	Warranty
1.	Meaning	It is a stipulation which is essential to the main purpose of the contract of sale.	It is a stipulation which is collateral to the main purpose of contract.
2.	Significance	Condition is so essential to the contract that the breaking of which cancels out the contract.	It is of subsidiary or inferior character. The violation of warranty will not revoke the contract.
3.	Transfer of ownership	Ownership on goods cannot be transferred without fulfilling the conditions.	Ownership on goods can be transferred on the buyer without fulfilling the warranty.
4.	Remedy	In case of breach of contract, the affected party can cancel the contract and claim damages.	In the case of breach of warranty, the affected party cannot cancel the contract but can claim damages only.
5.	Treatment	Breach of condition may be treated as breach of warranty.	Breach of warranty cannot be treated as breach of condition.

Advantages :
(i) Increase in foreign investment :
If a country liberalises its trade, it will make the country more attractive for inward investment. Inward investment leads to capital inflows but also helps the economy through diffusion of more technology, management techniques and knowledge.
(ii) Increase the foreign exchange reserve :
Relaxation in the regulations covering foreign investment and foreign exchange has paved way for easy access to foreign capital.
(iii) increase in consumption :
Liberalization increases the number of goods available for consumption within a country due to increase in production.
(iv) Control over price :
The removal of tariff barriers can lead to lower prices for Consumers.This would be particularly is benefit for countries who are importers.
Disadvantages :
(i) Increase in unemployment :
Trade liberalisation often leads to a shift in the balance of an economy. Some industries grow, some decline. Therefore, there may often be structural unemployment from certain industries closing.
(ii) Loss to domestic units :
With fewer entry restrictions, it has been possible for many entrants to make inroads into the country which poses a threat and competition to the existing domestic units.
(iii) Increased dependence on foreign nations :
Trade liberalisation means firms will face greater competition from abroad.When competition is not automatically enhanced, it can lead to domination by big institution that has market controlling powers.
(iv) Unbalanced development :
Trade liberalisation may be damaging for developing economies which cannot compete against free trade. 

The first priority of a consumer organisation is to accelerate consumer awareness towards their rights. To accomplish this task the following efforts are made:
(i) To publish brochures, journals and monographs.
(ii) To arrange conferences, seminars and workshops.
(iii) To educate consumers to help themselves.
(iv) To provide special education to women about consumerism. 

The responsibilities of consumer are listed below;
(i) The consumer must pay the price of the goods according to the terms and conditions of the sales contract.
(ii) The consumer hasgot a responsibility to apply to the seller for the delivery of the goods.
(iii) The consumer has to bear any loss which may arise to the seller when the consumer delays taking delivery of the goods as per the terms of contract.
(iv) The consumer is bound to pay any interestand special damagescaused to the seller in case if there is delay in the payment.
(v)The consumer has to assiduously follow and keenly observe the instructions and precautions while using the products.
(vi) The consumer has the responsibility to express unambiguously to the seller of his requirements and expectations from the product.

(i) The Indian Contract Act, 1872 was passed to bind the people on the promise made in the contract.
(ii) The Trademark Act, 1999 prevents the use of fraudulent marks on the product.
(iii) The Competition Act, 2002 protects the consumers against unhealthy competition.
(iv) The Drugs and Cosmetics Act, 1940 ensures the safety of drugs and cosmetics sold in India.
(v) The Air (Prevention and Control of Pollution) Act, 1981 controls and prevents pollution in India.

Consumers are exploited in many ways. Some of them are given below:
(i) Selling at higher price:The price charged by the seller for a product/ service may not be commensurate with the quality but at times it is more than the fair price.
(ii) Adulteration: It refers to mixing or substituting undesirable material in food.This causes heavy loss to the consumers.Adulteration is quite common in food articles.For example : Mixing of stones with grains,coffee powder is adultered with tamarind seed,etc. 
(iii) Duplicate or spurious goods: Duplicate products of popular products are illegally produced and sold. Duplicates are available in plenty in the market for every original and genuine parts or components like automobile spare parts, blades, pens, watches, radios, medicines, jewellery, clothes and even for currency notes. A consumer is not in a position to distinguish duplicate from the original.
(iv) Artificial Scarcity: There are certain situations where the shop-keepers put up the board "No Stock" in front of their shops, even though there is plenty of stock in the store. Even in Cinema houses, board may hang in the main entrance 'House Full' while cinema tickets will be freely available at a higher price in the black market.
(v) Sub-standard: On opening a packet or sealed container one may find the content to be of poor quality.Thus gulliable consumers are easily and legally cheated. 
(vi) Warranty and Services: In case of consumer durable goods like televisions, washing machines, refrigerators, cars, two wheelers and air conditioners etc. free service is guaranteed only for few years called warranty period. But in reality free service is denied on filmsy grounds even during the warranty period.

S. No.	E-Marketing	Traditional Marketing
1.	Electronic marketing or E-marketing is the process of marketing of products and services Over internet and tele networks.	Goods and services are directly purchased and sold in the market is known as traditional marketing.
2	It is very economical and faster way to promote the products	It is very expensive and takes more time to promote product
3.	It is quite easier for promoting product globally in the short  time	It is very expensive and time consuming to promote product/ service under traditional marketing
4.	E-Business enterprises can expand their operation with minimum man power	It needs more man power
5.	In this marketing product can be sold or bought 24 x 7,round the year with minimum manpower	That is not possible in traditional marketing

(a) To the Society:
(i) Marketing is a connecting link between the consumer and the producer.
(ii) Marketing helps in increasing the living standard of people.
(ii) Marketing helps to increase the nation's income.
(iv) Marketing process increases employment opportunities.
(v) Marketing creates modern cultivators.
(vi) Marketing removes the imbalances of supply by transferring the surplus to deficit areas, through better transport facilities.
(vii) Marketing helps to maintain economic stability and rapid development in underdeveloped or developing countries.
(viii) Marketing includes all activities in the creation of utilities- form, place, time and possession.
(ix) A reduction in the cost of marketing is a direct benefit to society.
(x) Marketing adds value of goods by changing their ownership and by changing their time and place of consumption.
(b) To the individual firms:
(i) Marketing generates revenue to firms.
(iii) Marketing section of a firm is the source of information to the top management for taking overall decisions on production.
(iii) Marketing and innovations are the two basic functions of all businesses, the world is dynamic.
(iv) Marketing facilities the development of business and creates employment opportunities for people.

(1) Benefits to the organisation:
(i) It improves the skill of employees and enhances productivity and profitability of the entity.
(ii) It reduces wastages of materials and idle time.
(2) Benefits to the employees:
(i) It improves the employees productivity
(ii) It enhances the morale of the employee.
(3) Benefits to the customer:
(i) Customers get better quality of product service.
(ii) Customers get innovative products or value added or feature rich products

Ability Test :
(i) A test designed to measure an individuals cognitive function in a specific area such as variety of skills, mental aptitude, problem solving, knowledge of particular filed, reasoning ability, intelligence, etc.
(ii) Thistest is used to find the suitability of a candidate for a given job role. It comprises the following:
(1) Aptitude test :
Aptitude test is a test to measure suitability of the candidates for the post/ role. It actually measures skills sets of the candidates. It helps in predicting the ability and future performance of the candidate. Aptitude test can be measured by the following ways:
* Numerical Reasoning test
* Verbal Reasoning test
* Inductive Reasoning test
* Mechanical Reasoning test
* DiagrammaticReasoning test
* Spatial Reasoning test
* Situational judgment test
* Mental Arithmetic test
* Vocabulary test
* Number sequence test
(2) Achicvement Test :
This test measures a candidate's capacity to achieve in a particular field. In other words this test measures a candidate's level of skill in certain areas, accomplishment and knowledge in a particular subject. The regular examination conducted in educational institution represents achivement test.It is also called proficiency test.
(3)Intelligence Test :
Intelligence tests are one of the psychological tests, that is designed to measure a variety of mental ability, individual capacity of a candidate. The main aim of these tests is to obtain an idea of the person's intellectual potential.
(4) Judgement Test :
This test is conducted to test the presence of mind and reasoning capacity ofthe candidates.
B.Personality Test :
Personality test refers to the test conducted to find out the non intellectual traits of a candidate namely temperamcnt, emotional response, capability, and stability. There is no right or wrong in the test. It comprises the following tests.
(i) Interest Test
(ii) Personality Inventory test
(iii) Projective test / Thematic appreciation test
(iv) Attitude test.

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 characteristics of Human Resource :
(i) Human resource is the only factor of production that lives.
(ii) Human resource created all other resources.
(iii) It is only the labour of employees that is hired and not the employee himself.
(iv) Human resource exhibits innovation and creativity.
(v) Human resource alone can think, act analyse and interpret.
(vi) Human resources are emotional beings.

S.No.	Feature	Stock Exchange	Commodity Exchange
1.	Meaning	Stock exchange is an organised market for the purchase and sale of industrial and financial security.	A commodity exchange is an exchange where commodity are traded
2.	Function	Providing easy marketability	Offering hedging or price insurance services and liquidity to securities
3.	Participants	Investors and speculators	Producers, dealers, traders and a body of speculators
4.	Period of dealings	Cash, ready delivery and dealings for account for a fortnight	Instant cash dealings and a settlement period of 2 or 3 months for Future Market dealings.
5.	Forward Contract	Forward dealings are simplified as securities are fully standardized.	Standards are to be fixed for deliverable grades to facilitate futures contract.
6.	Price Quotation	As regards forward dealings, only one quotation is possible.	For future dealings, multiple quotations are possible.

The features of commercial bills are:
(i) Drawer
(ii) Acceptor
(iii) Payee
(iv) Discounter
(v) Endorser
(vi) Assessment
(vii) Maturity
(viii) Credit rating
Types of commercial bills are:
(i) Demand and usance bills:
(a) A demand bill is one wherein no specific time of payment is mentioned.
(b) So, demand bills are payable immediately when they are presented to the drawee.
(ii) Clean bills and documentary bills:
(a) Bills that are accompanied by documents of title to goods are called documentary bills.
(b) Clean bills are drawn without accompanying any document.
(c) Example: Railway receipt and Lorry receipt.
(iii) Inland bills and Foreign bills:
(a) Bills that are drawn and payable in India on a person who is resident in India are called inland bills.
(b) Bills that are drawn outside India and are payable either in India or outside India are called foreign bills.
(iv) Indigeneous bills: The drawing and acceptance of indigenous bills are governed by native custom or usage of trade.
(v) Accommodation and supply bills: Accommodation bills are those which do not arise out of genuine trade of transactions.

The significance of capital market functions are as follows
(i) Savings and Capital Formation
In capital market, various types of securities help to mobilize savings from various sectors of population likes Individuals, Corporate, Government, etc.
(ii) Permanent Capital
The existence of a capital market/stock exchange enables companies to raise permanent capital.
(iii) Industrial Growth
The stock exchange is a central market through which resources are transferred to the industrial sector of the economy.The existence of capital market/stock exchange encourages people to invest in productive channels.
(iv) Ready and Continuous Market
The stock exchange provides a central convenient place where buyers and sellers can easily purchase and sell securities.
(v) Reliable Guide to Performance
The capital market serve as a reliable guide to the performance and financial position of corporate and thereby promotes efficiency.
(vi) Proper Channelization of Funds
The prevailing market price of security and relative yield are the guiding factors for the people to channelize their funds in a particular company.

Financial markets can be classified in different ways. They are as follows
(i) On the Basis of Type of Financial Claim
(a) Debt Market: Debt market is the financial market for trading in Debt instruments(i.e Government Bonds or Securities, Corporate Debentures or Bonds). 
(b) Equity Market: Equity market is the financial market for trading in equity shares of companies
(ii) On the basis of Maturity of Financial Claim
(a) Money Market:  Money market is the market for short term financial claim (usually one year or less) E.g. Treasury Bills, Commercial Paper, Certificates of Deposit
(b) Capital Market: Capital market  is the market for long term financial claim more than a year Example : Shares and Debentures
(iii) On the Basis of Time of Issue of Financial Claim
(a) Primary Market: Primary market is a term used to include all the institutions that are involved in the sale of securities for the first time by the issuers (Companies).here the money from investors goes directly to the issuers.
(b) Secondary Market: Secondary market is the market for securities that are already issued. Stock Exchange is an important institution in the secondary market.
(iv) On the Basis of Timing of Delivery of Financial Claim
(a) Cash/Spot Market: Cash/Spot market  is the market where the delivery of the financial instrument and payment of cash occurs immediately (i.e.) settlement is completed immediately.
(b) Forward or Future Market: Forward or Future market is a market where the delivery of the asset and payment of cash takes place at a pre determined time in future.
(v) On the Basis of the Organisational Structure of the Financial Market
(a) Exchange traded Market: Exchange traded market is a centralized organisation (stock exchange) with standardized procedures.
(b) Over - the- counter Market:  Over - the- counter market is a decentralized market (outside the stock exchange) with customized procedures.

The advantages of MBO are explained below:
(i) Managers are involved in objectives setting at various levels of management under MBO and this commitment ensures hard work to achieve them.
(ii) MBO process helps the managers to understand their role in the total organisation.
(iii) Manager recognises the need for planning and appreciates the planning.
(iv) MBO provides a foundation for participative management. Subordinates are also involved in goal setting.
(v) A department does not work at cross purpose with another department.

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