A Company secretary is a high-level officer. He enjoys certain rights and power as per the contract made with the company, which are as follows:
(i) Supervision and Control: As a head of the office, a company secretary has the rights to supervise, direct and control all office activities of subordinate offices.
(ii) Singing authority: Being a principal officer, a company secretary can sign. contracts, proceedings of the company meeting, files and documents on behalf of the company.
(iii) Exercising power: He has the right to exercise powers as granted by a board of directors.
(iv) Issuing testimonial: A company secretary can issue testimonials to employees on behalf of the company.
(v) Claiming salary and damages: As per the contract, he has the right to claim his salary and other allowances. He can also take legal action against the company if there is any breach of contract.
(vi) Preferential creditor: During winding up of a company, the company secretary can claim his legal dues on a preferential basis.
(vii) Attending a meeting: He has the right to be physically present in the meetings of the shareholders and board of directors.

Rights can be categorized into individual rights and collective rights.
Individual rights are such as
(i) Right to inspect books of accounts
(ii) Right to receive notices of board meetings
(iii) Right to participate in proceedings and cast vote in favour or against resolutions
(iv) Right to receive circular resolutions proposed to be passed
(v) Right to inspect minutes of board meetings
Collective rights are as follows
(i) Right to refuse to transfer shares: Directors of private companies and deemed public companies are entitled to refuse registration of transfer of shares to a person whom they do not approve.
(ii) Right to elect a Chairman: The directors are entitled to elect a chairman for the board meetings.
(iii) Right to appoint a Managing director: The Board has the right to appoint the managing director/ manager of the company.
(iv) Right to recommend dividend: The Board is entitled to decide whether a dividend is to be paid or not. Shareholders cannot compel the directors to pay a dividend. However, they can reduce the rate of recommended dividend. Payment of dividend is the prerogative of the board.

(i) It is issued by the Company in the form of a certificate under the common seal.
(ii) It is movable property
(iii) Debenture holders are the creditors of the company
(iv) Debentures carry a fixed rate of interest.
(v) A debenture is redeemed after a fixed period of time.
(vi) Debentures may be either secured or unsecured.
(vii) Interest payable on a debenture is a charge against profit and hence it is a tax deductible expenditure.
(viii) Debenture holders do not enjoy any voting right.
(ix) Interest on debenture is payable even if there is a loss.

Successful Entrepreneurs in Tamilnadu:
(i) G. Chandramogan Sold his father's agricultural land to mobilize funds for. starting ice cream enterprise in Tamilnadu known as 'Arun Ice-cream' which has emerged as one of the top-notch dairy companies in India.
(ii) Mr. T.V Sundarm Iyengar who started his career as a lawyer shifted his job to Indian railways in the later years and then further shifted to bank Then he started bus service company on his own A in Madurai before nationalization of transport service in Tamilnadu. Now the enterprise has diversified into producing a variety of automobile products under the banner TVS group.
(iii) Mr. Murugappa ChettIar started his career as an apprentice in Burma when it was under the British Colonisation. He returned to India and started his business in diversified fields. Murugappa has transformed his family business into a corporate enterprise.
(iv) Mr. K.R. Nagarajan made a foray into the textile industry, Tirupur was hailed as the 'dollar city' and an undisputed business center. Mr. K .R. Nagarajan chose the road less traveled. His focus was not on the hefty bottom line but on progress and growth for the poor village weaver. Eighteen years of networking with dealers across the length and breadth of South India have ensured Ramraj's leadership in this part of the world.
(v) Mr. N. Natarajan began his entrepreneurial journey with a fruit shop in Coimbatore that he started with his brother in 1965. 'Kovai Pazhamudir Nilayam, a Coimbatore based 40 outlets strong fruit and vegetable retail chain that achieved a combined turnover of Rs.220 crore this year. The retail chain now has 56 outlets spread all over Tamil Nadu and Pondicherry, of which the other brothers operate between them 9 outlets located in different parts of Tamil Nadu.

(i) Employee referral: The existing employees of the organisation may recommend some of their relatives or known people who will be suitable for the existing vacancies.
(ii) Government/Public Employment Exchanges: These are exchanges established by Government which facilitates recruitment throughout the country.
(iii) Private Employment Agencies: These are similar to Public employment exchanges except that the ownership is the hands of private parties.
(iv) Employment consultancies: These types of firms facilitate recruitment on behalf of client companies at cost.
(v) Professional associations: Organisations seeking applicants of high calibre and repute with technical knowledge approach professional associations like Institute of chartered accountants, The Indian Medial association and All India Management Association etc.
(vi) Deputation: A person who is already an employee of an organisation can be deputed for a specific job for a specified period as a short term solutions.
(vii) Labour contractors: Organisations recruit unskilled and manual labourers through these contractors.

Dimension	Salaried Employment	Self Employment
Income	Dependable and probably higher income during the initial stages but limited by promotion opportunities	The fluctuation of income depending upon economic conditions and endeavors of the entrepreneur
Working Hours	Fixed Working Hours	Absolute freedom in choosing the working time.
Job Security	Fixed tenure jobs in respect of public sector appointments and absolute unstable job in private sector appointments.	Stable job till the business is solvent
Financial Risk	There is no financial risk in salaried employment as the employee does not invest in the capital of the employer organization	There is high degree of risk of losing the investment due to continuous loss.
Personal Satisfaction	An employee may derive job satisfaction	Owner derives a sense of personal satisfaction
Responsibility	The size of responsibility increases as an employee moves up the organizational ladder.	The size of responsibility is always higher for various stakeholders.

Opportunities for Women Entrepreneurs
(i) Opportunities Based on Business: Women entrepreneurs are bestowed with numerous business opportunities depending upon their area, choice of industry, the capacity to invest, technical and non-technical skills, etc.
(ii) Financial Opportunities: All Banks in India provide financial support to the women Entrepreneur, in the form of micro small loans to buy Raw Materials and Equipment.
(iii) Non-Financial support: Women entrepreneurs are provided with the following non-financial support in the form of:
i. Financial counseling and training
ii. Business advisory service
iii. Handling legal barriers
iv. Establishing Commercial linkages
v. Client research
(iv) Opportunities Created by Associations: There are various associations like Self Help Groups (SHG), Federation of Indian Women Entrepreneurs (FIWE), Women's India Trust (WIT), Small Industries Development Organisation (SIDO), Self Employed Women's Association (SEWA), Tamilnadu Corporation for Development of Women Ltd. (TNCDW), Women Entrepreneurs Promotion Association (WEPA), Women Entrepreneurs Association of Tamil Nadu (WEAT) are aggressively promoting women entrepreneurship in India.
(v) Opportunities Created by Government: Government both Union and Central have put in a number of schemes exclusively for the promotion of women entrepreneurship namely:
i. Mahila Coir Yojana
ii. Mahila E-haat
iii. Magalir Udavi Scheme
iv. Prime Minister's RozgarYojana (PMRY)

The following are the characteristics of human resource management:
(i) Universally relevant: Human Resource Management has universal relevance. The approach. and style varies depending the nature of organisation structure and is applicable at all level.
(ii) Goal oriented: The accomplishment of organisational goals is made possible through best utilisation of human resource in an organisation.
(iii) A systematic approach: Human resource management lays emphasis on a systematic approach in managing the tasks performed by human resource of an organisation. The two sets of functions performed are managerial and operative functions.
(iv) It is all pervasive: Wherever there is existence of human resource the effective management of the available human resource is very important especially in functional areas.
(v) It is a continuous process: As long as there is human resource in the running of an organisation, the activities relating to managing human resource exists.
(vi) It is an integrative tool: The main idea behind managing the human resource is to motivate, participate and coordinate the available work force.
(vii) Focuses on development: Human resource management focuses on the development of manpower through training and development programmes.

(i) Regulation of Stock Exchanges
The first objective of SEBI is to regulate stock exchanges so that efficient services may be provided to all the parties operating there.
(ii) Protection to the Investors
(a) The capital market is meaningless in the absence of the investors.
(b) The protection of the interests of the investors means protecting them from the wrong information given by the companies in their prospectus, reducing the risk of delivery and payment, etc.
(iii) Checking the Insider Trading
(a) Insider trading means the buying and selling of securities by directors Promoters, etc.
(b) Who have access to some confidential information about the company and who wish to take advantage of this confidential information.
(c) This affects the interests of the general investors and is essential to check this tendency.
(iv) Control over Brokers
(a) It is important to supervise/ check the activities of the brokers and other middlemen in order to control the capital market.
(b) To regulate their activities, it was necessary to establish the SEBI.

(i) Bearer Instrument: Promissory Note, Bill of Exchange or cheque is payable to bearer is called bearer instrument subject to fulfilment of either of the two conditions:
(1) It must be expressed to be payable
(2) The only or last endorsement should be a blank endorsement.
(ii) Order Instrument: Promissory Note, Bill of Exchange or cheque is payable to order is called Order instrument.
(iii) Inland Instrument: Promissory Note, Bill of Exchange or cheque is an inland instrument subject to the following conditions:
(a) It must be drawn in India
(b) It must be payable in India
(c) It must be drawn upon any person resident in India
(iv) Foreign Instrument: An instrument which is not the inland instrument is called a foreign instrument.
(1) Bill drawn outside India
(2) Bill payable outside India
(3) Bill drawn upon foreign citizens
(v) Ambiguous Instrument: An ambiguous instrument means an instrument which can be construed either as a promissory note or a bill of exchange.
(vi) Inchoate Instrument: It means an incomplete instrument in some respect.

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.

Right of an Unpaid Seller against the Buyer Personally
(i) Suit for price: Where the ownership in the goods has passed to the buyer and the buyer refuses to pay for the goods, the seller can file a case against the buyer for the price.
(ii) Suit for Damage for Non-acceptance: Where the buyer wrongfully refuses to accept the goods, the seller can sue him for damages for non-acceptance of the goods.
(iii) Suit for Cancellation of the contract before the Due Date:  Where the buyer cancels the contract before the date of delivery, the seller may either treat the contract as continuing or wait till the due date or he can file a case against buyer immediately.
(iv) Suit for Interest: Where there is a specific agreement between buyer and seller regarding charging interest on the price the seller can recover interest from the buyer from the due date of the contract till the date of payment of purchase price.

Forms of Privatization:
(i) Contraction (minimisation) of public sectors: The number of industries reserved for public sector was reduced from 17 (as per 1956 policy) to only 8 industries viz, Arms and Ammunition, Atomic Energy, Coal and Lignite, Mineral oils, Mining of ores, Mining of copper, lead, zinc etc., Minerals for atomic energy and Railways.
(ii) Sales of shares of public sectors to the private sector: Indian Govt. started selling shares of PSUs to public and financial institution. Now the private sector will acquire ownership of these PSU's.
(iii) Memorandum of Undersatanding: MOU system was introduced in 1991to raise the productivity and performances of PSUs. It strengthens the relationship between PSUs and administrative departments.
(iv) Disinvestment in PSUs: The Govt has started the process of disinvestment in those PSUs which had been running into loss. It means that Govt. has been selling out these industries to private sector. So disinvestment is a system of privatizing government enterprises.

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.

Tata has always been values-driven. These values continue to direct the growth and business of Tata companies. The five core Tata values underpinning the way we do business are:
(i) Integrity: We will be fair, honest, transparent and ethical in our conduct; everything we do must stand the test of public scrutiny.
(ii) Excellence: We will be passionate about achieving the highest standards of quality, always promoting meritocracy.
(iii) Unity: We will invest in our people and partners, enable continuous learning, and build caring and collaborative relationships based on trust and mutual respect.
(iv) Resonsibility : We will integrate environmental and social principles in our businesses, ensuring that what comes from the people goes back to the people many times over.
(v) Pioneering: We will be bold and agile, courageously taking on challenges, using deep customer insight to develop innovative solutions.
(vi) Mission: To improve the quality of life of the communities we serve globally through long-term stakeholder value creation based on Leadership with Trust.

The management concept can be understood from its profound characteristic features as follows:
1. Body Knowledge:
(i) Management has now developed a specialised body of management theory and philosophy.Management literature is growing in all countries.
2. Management Tools:
Tools of management have been developed such as, accounting, busines law, psychology, statistics, econometrics, data processing, etc.
3. Separate Discipline:
Management studies in many universitis and institutions of higher learning are recognised as a separate discipline.
4. Specialisation:
There is a growing tendency to select and appoint highly qualified, trained and experienced persons to manage the business in each functional area of management.
5. Code of Conduct:
Enlightened businessmen have recognised that business management is a social institution and it has social responsibilities to be fulfilled - towards customers, employees, and the public or community.
 

(i) These are the functions which help or facilitate in the transfer of goods and services from the producer to the consumer.
(i) They are not directly connected with the transfer of goods, under this category the following functions are included.
(i) Financing:
a. Long-term finance
b. Medium term finance
c. Short- term finance
(ii) Risk bearing:
a. Time risk
b. Place risk
c. Competition risk
d. Risk of change in demand
e. Risk arising from natural calamities
f. Human risks
g. Political risks
(iii) Market Information:
According to Clark and Clark market information means "all the facts, estimates, opinions and other information used in marketing of goods".
(iv) Standardization:
Standardization means establishment of certain standards based on intrinsic qualities of a commodity.
The quality may be determined on the basis of various factors like size, colors, taste, appearance, etc.
(v) Grading:
Grading means classifications of standardised products in to certain well defined classes.
(vi) Branding:
Branding means giving a name or symbol to a product in order to differentiate it from competitive products.
(vii) Packing:
Packing means wrapping and crating of goods before distribution.
Goods are packed in packages or containers in order to protect them against breakage, leakage, spoilage and damage of any kind.
(viii) Pricing :
Pricing is perhaps the most important decision taken by a businessman. It is the decision upon which the success or failure of an enterprise depends to a large extent.
Therefore, price must be determined only after taking all the relevant factors into consideration.

The first step in filing a consumer complaint is to send a legal notice to the seller or company. A legal notice must be drafted with the help of a consumer court lawyer and include the following:
(i) Details of the consumer like name,address, product or services purchasedetails of the company, etc.
(ii) Necessary details of the problem faced and describe the deficiency in service.
(iii) Action taken by the company in response to the customer complaint
(iv) Action expected from the company
(v) Time period given to the company to take action
(vi) The legal action that will be taken upon failure by the company in sending a reply to the legal notice.

On the basis of geographical area can be classified into (a) Family market, (b) Local market, (c) National market, (d) International market or World market.
(a) Family market : When exchange of goods or services are confined within a family or close members of the family, such a market can be called as family market.
(b) Local market: Participation of both the buyers and sellers belonging to a local area or areas, may be a town or village, is called as local market. 
(c) National market : Certain type of commodities has demand throughout the country. Hence it is called as a national market.
(d) International market or World market: World or International market is one where the buyers and sellers of goods are from different countries i.e., involvement of buyers and sellers beyond the boundaries of a nation.

(i) Lecture Method : Under this method trainees are educated about concepts, theories, principles and application of knowledge in any particular area. Trainer are generally drawn from Colleges, Universities, Consultancies, Institutions, Manufacturing concerns, Union, etc.
(ii) Group discussion method : Group of people participate and discuss particular subject or one topic. Under this method participants are divided into various groups. They were provided a particular issue for deliberation.
(iii) Case Study Method : Trainees are described a situations which stimulate their interest to find solution. They have to use their theoretical knowledge and practical knowledge to find solution to the problem presented
(iv) Role Play Method: Under this method trainees are explained the situation and assigned roles. They have to act out the roles assigned without any rehearsal. There is no pre-prepared dialogues.
(v) Field Trip Method : A held trip or field work or training in the field is a journey undertake by a group of employees trainees to a place away from their actual work site. This method helps the trainees to strengthen their theoretical knowledge obtained in a class room environment by practical exposure.

Origin: 
(i) In the beginning of 20th century industrial economy reached a boom state
(ii) The early 20th century marked a period of reform and expansion in many areas as well.
(iii) Industrial reform for consumers would be an answerable to inconsistencies that existed between product, price and consumer satisfaction.
Evolution of Consumerism:
(i) The major causes of consumerism in India have been identified as rising prices, poor product performance and service quality, product shortages and deceptive advertising and inflation.
(ii) Government has been very responsive to the consumer needs through legislative actions.
(iii) Economic discontent has been generated out of spiralling inflation.
Growth:
(i) Consumerism or consumer movement is an outcome of sufferings, and exploitations of consumers.
(ii) It intends to shield the consumers from commercial terrorism and exploitative practices.
(iii) Its aim is to safeguard their interests by establishing their rights and powers in relation to products and sellers.

(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.

S.No	Basis of comparison	Recruitment	Selection
1	Approach	Approach under recruitment is positive one	Approach under selection is negative one
2	Objective	Inviting large number of candidates to apply for the vacant post	Picking up the most suitable candidates and eliminating the rest
3	Sequence	First	Second
4	Method	It is an economical method	It is an expensive method
5	Contractual relation	It involves the communication of vacancies. No contractual relation is established	It creates contractual relation between employer and employee
6	Process	Recruitment process is very simple	Selection process is very complex and complicated

Factors influencing employee selection process are listed below:
(i) Nature of Post :
The process of selection of employee varies according to type of personnel to be recruited. For instance, selection process of probationary officer of a bank differs from that of selection of officer for Indian Police Service. 
(ii) Number of Candidates :
Selection process depends on the response of candidates to the advertisement inviting applications for the post. For instance, for clerical and other physical jobs, more candidate tend to apply. Hence short listing needs to be done. 
(iii) Selection Policy :
The selection policy and selection process are inter-related. For example some organizations put in place tougher selection process involving several steps to identify the best fit while certain other organizations just conduct straight interview and thus cutting short the selection procedure.
(iv)  Cost factor / Budget :
The longer selection process entails higher cost. Hence, organizations which cannot afford to spend a larger resource tend to shorten selection process while organizations with sound financial condition can afford to adopt lengthier selection process.
(vi) Level of Educational Qualities and Experience and Exposure: 
The process of selection depends on the experience and educational qualification, and exposure required for the post. For example for selection of finance officer, treasurer, legal adviser, designer, architecture, CEOs, scientist, chairman etc.

(i) Numerical Reasoning Test : Numerical reasoning test provides information about candidate's numerical aptitude.
(ii) Verbal Reasoning Test: It measures the candidate's ability to comprehend the written text and ability to arrive at factual conclusion from the written test.
(iii) Inductive Reasoning Test: Inductive test is one of the psychometric tests conducted in the selection process to measure the problem solving abilities and ability to apply logical reasoning.
(iv) Mechanical Reasoning Test: This test measures the engineering student's ability to apply engineering concepts in actual practice.
(v) Diagrammatic Reasoning Test : This test measures the candidate's ability to understand the shapes, abstract ideas and ability to observe and extract values from illustrations and apply them to new samples.
(vi) Spatial Reasoning Test : The test measures the candi ate's ability to clearly manipulate and remember the shapes, still images, and find out pattern which govern the sequence