A director of a company can be removed from his office before the expiry of his term by
(i) the Shareholders
(ii) the Central Government
(iii) the Company Law Board
(i) Removal by shareholders 169
A company (whether public or private) may, by giving a special notice and passing an ordinary resolution, remove a director before the expiry of his period of office without the proof of mismanagement, breach of trust, misfeasance or other misconduct on the part of the director.
(ii) Removal by the Central Government:
The Central Government has been empowered to remove managerial personnel from office on the recommendation of the Company Law Board
(i) Where a person concerned in the conduct and management of the affairs of a company has been guilty of fraud, misfeasance.
(ii) Where the business of a company has not been conducted and managed by such a person, in accordance with sound business principles or prudent commercial practices;
(iii) Where the business of a company has been conducted and managed by such a person in a manner which is likely to cause injury or damage to the interest of the trade, industry or business.
(iv) Where the business of the company has been conducted and managed by such a person with the intent to defraud its creditors, members or any other persons.
(iii) Removal by the Company Law Board:
If an application has been made to the Company Law Board against the oppression and mismanagement of the company's affairs by a director, then the Company Law Board may order for the termination of the director's tenure.

(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	Rural Entrepreneur	Urban Entrepreneur
1.	These are people who start a venture in rural locations like villages and semi-urban areas.	These are people who commence his entrepreneurial activities in urban areas like State Capital District headquarters, Towns, Municipalities.
2.	They are agricultural and trading entrepreneurs prefer to set up their venture in rural areas.	They may be industrial entrepreneur or cor entrepreneur.
3.	They are provided a lot of economic and fiscal incentives to start their venture In rural and semi-urban areas.	There is no such incentives are provided to those entrepreneurs.
4.	The cost of operation of rural ventures tends to be low	The cost of operation in urban areas are high
5.	It creates employment opportunities in rural areas.	Employment opportunities are low.

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. 

Micro environment rcfers to th0se factors which are in the imncdiate environment of businessaffecting itsperformance. "These includes the following:
(i) Suppliers:In any organisation the suppliers ofraw materials and other inputs play a very vital rolc. Timely procurement of materiáls from suppliers enables continuity in production and reduces the cost ofmaintaining stock/ inventory.
(ii) Customers : The aim of any business is to satisfy the needs of its customers. The customer is the king and the fulcrum around which thebusiness revolves.
(iii) Competitors:All organisationsface competition at all levels such as local, national and global. Itis important for a business to understand its competitors and modify their business strategies in the face of competition.
(iv) Financiers :The financiers of a business which includes the debenture holders and financial institutions play a significant part in the running of a business. Their financial capability, policies strategies, attitude towards risk and ability to give non-financial assistance are all important to a business.
(v)Marketing Channel members:The marketing inter-mediaries serve as a connecting link between the business and its customers. The middlemen like dealers, wholesalers and retailers ensure transfer of product to customers. Insurance firm is another marketing intermediary which provides coverage for risk in business.
(vi) Public: This refers to any group like media group, citizen action group and local public which has an impact on the business. Many companies had to face closure due to actions by local public.

(i) Consumer is a broad label for any individuals or households that use goods and services produced within the economy.
(ii) Voluntary consumer organizations refer to the organisation formed voluntarily by the consumers to protect their rights and interests.
Functions :
(i) A wide network of Voluntary Consumer Organisation (VCO) is doing commendable work to raise awareness amongst consumers.
(ii) To strengthen consumer protection and welfare and to provide counselling, guidance and mediation services.
(iii) VCO's supported through CWF provides grants for diverse projects including comparative testing of products and services and dissemination of the findings
(iv) Steps have been taken to enhance transparency and to digitalize the governments interface with its citizens.

(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) Though consumer is said to be the king of entire business sphere, his interests are virtually neglected.
(ii) Shortage of goods makes the consumers to be content with whatever is offered for sale.
(iii) Quality is sacrificed.
(iv) Warranty of performance has no meaning.
(v) Health hazard is never considered.
(vi) Profit maximisation turns out to be sole consideration of business enterprises.

Advantages of E-tailing :
i) Customers can shop from the compact of their homes at any time of the day instead of visiting a store during specific hours.
ii) It reduces advertising and marketing expenses as customers can find the stores through search engines or social media.
iii) Companies can more products faster and reach more customers Online than with traditional physical locations.
Disadvantages:
(i) Creating and maintaining an E-tailing website can be expensive.
(ii) Infra structure costs can be substantial if ware houses and distribution centers need to be built to store and ship products.
(iii) Consumers may not trust E-tailing that is not well established or does not have a physical location near them.
(iv) E-tailing does not offer experience shopping whereby consumers can hold, smell, feel or by product and services before purchasing them.

(i) Marketing is the performance of buying activities that facilitate to more flow of goods and services from producer to ultimate user.
(ii) Selling is basically concerned with putting the goods into the hands of the buyers for a price, but marketing is much wider than selling.
(iii) The development of marketing is evolutionary rather than revolutionary.

(i) My contribution to promote the market in modern society is new technologies promote efficiency
(ii) The ability to teen ideas into new products and sources that people need is the fount of prosperity for any developed county.
(iii) On the basis of different approaches market have been classified on the basis of Area, Nature of goods and Economic view, transaction. Regulation, time, volume and importance.
(iv) To improve the quality of life of the society.
(v) To introduce new models of life.
(vi) To develop product by enchasing market segment

According to Edwin B. Flippo" Training is the act of increasing the Knowledge and skills of an employee for doing particular jobs".
Methods of training: There are various methods of training are used to train employees. it is vary from one organisation to another. There are two principal methods of employee training. They are:
I. On the job training
On the job training refers to the training which is given to the employee at the work place by his immediate supervisor.
(i) Coaching method
The superior teaches or guides the new employee about the knowledge and skills relevant to a given job.
(ii) Mentoring method
(a) Mentoring is the process of sharing knowledge and experience of an employee.
(b) It is considered as one-to-one interaction, like coaching.
(iii) Job Rotation method
(a) Job rotation is an important method for broadening the knowledge of executives.
(b) The main aim of job rotation is to expose the employee to various inter related jobs.
(iv) Job Instruction Techniques (JIT) method
A trainer supervisory level gives some instructions to an employees to how to perform his job and its purpose.
(v) ApprenticeshipTraining Method
(a) The apprentice or trainee learns the job knowledge and skills from the trainer or superior or senior worker.
(b) The trainee gets the stipend during the training period.
(vi) Committee Assignment
When employees are assigned to committee to address a particular issue, they are able to work closely with other members and committee leader.
(vii) Understudy/Internship Training Method
A superior gives training to a subordinates or understudy like an assistant to a manager or director.
II. Off the Job Training
Off the job training is the training method where in the workers/employees learn the job role away from the actual work floor.
(i) Lecture Method
Under this method trainees are educated about concepts, theories, principles and application of knowledge in any particular area.
(ii) Group Discussion Method
(a) Group of people participate and discuss particular subject or one topic.
(b) In this method participants are divided into various groups. They were provided a particular issue for deliberation.
(iii) Cash Study Method
(a) Trainees are described a situations which stimulate their interest to find solution.
(b) They have to use their theoretical knowledge and practical knowledge to find solution to the problem presented.
(iv) Role Play Method
(a) This method trainees are explained the situation and assigned roles.
(b) They have to act out the roles assigned without any rehearsal.
(v) Seminar/Conference Method
This method enables the trainees to listen to the lectures / talk delivered on specific topics and provides opportunities to participants to interact with speakers.
(vi) Field Trip Method
A field trip or field work or training in the field is a journey undertake by a group employee to a place away from their actual work site.
(vii) Vestibule Training Method 
Vestibule training is training of employees in an environment similar to actual work environment artificially created for training purposes.
(viii) E-learning Method
E learning is the use of technological process to access of a traditional classroom or office.
(ix) Demonstration Training Method
Demonstration involves showing by reason or proof explaining or making clear by use of examples or experiments.
(x) Programmed Instruction Method
It is computer based training. It is stored in memory. It gives to participants and effective learning.

(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.

S.No	Basis of comparison	Recruitment	Selection
1.	Meaning	Recruitment is an activity of searching  candidates and encouraging them apply for it.	Selection refers to the process of selecting the suitable candidates and offering the job
2.	Approach	Recruitment is positive	Selection is negative
3.	Objectives	Inviting large number of candidates to apply for the vacant post	Picking up the most suitable candidates and eliminating the rest
4.	Sequence	First	Second
5.	Method	It is an economical method	It is an expensive method
7.	Process	Recruitment process is very simple	Selection process is very complex and complicated

(i) To identify manpower needs :
Determination of manpower needs in an organisation is very important as it is a form of investment.The number ofmen required are to be identified accurately to optimise the  cost.
(ii) To incorporate change :
Change is constant in any organisation and this change has to be introduced in such a way that the human resource management acts as an agent to make the change effective.
(iii) To ensure the correct requirement of manpower :
At any time the organisation should not suffer from shortage or surplus manpower which is made possible through human resource management. 
(iv) To select right man for right job :
Human resource management ensures the right talent available for the right job, so that no employee is either under qualified or over qualified.
(v) To update the skill and knowledge :
Managing human resource plays a significant role in the process ofemployee skill and knowledge enhancement to enable the employees to remain up to date through training and development programmes.

(i) The lack of paperwork enables quicker transactions and higher efficiency in trading
(ii) The risks pertaining to physical certificates like loss, theft, forgery and damage are eliminated completely with a DEMAT account.
(iii) Trading has become more convenient as one can trade through computers at any location, without the need of visiting a broker.
(iv) Certain banks also permit holding of both equity and debt securities in a single account.
(v) Banks also provide dedicated and trained customer care officers to assist through all the procedures.
(vi) One can also choose to take a loan against securities which are held in a DEMAT account by offering it as a collateral to the lender.

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.

(i) Short-term Funds:
It is a market purely for short-term funds or financial assets called near money.
(ii) Maturity Period:
It deals with financial assets having a maturity period upto one year only.
(iii) Conversion of Cash :
It deals with only those assets which can be converted into cash readily without loss and with minimum transaction cost.
(iv) No Formal Place:
Generally, transactions take place through phone i.e., oral communication.Relevant documents and written communications can be exchanged subsequently.
(v) Sub-markets :
It is not a single homogeneous market. It comprises of several sub-markets each specialising in a particular type of financing. 
(vi) Role of Market :
The components of a money market are the Central Banks, Commercial Banks, Non-Banking Financial Companies,Discount Houses and Acceptance House.Commercial banks generally plays a dominant role in this market.
 

Following are the nature/characteristic of a capital market.
(i) Securities Market
The dealings in a capital market are done through the securities like shares, debentures, etc.The capital market is thus called securities market.
(ii) Price
The price of the securities is determined based on the demand and supply prevailing in the capital market for securities.
(iii) Participants
There are many players in the capital market.The participants of the capital market include individuals, corporate sectors, Govt., banks and other financial institutions.
(iv) Location
Capital market is not confined to certain specific locations, although it is true that parts of the market are concentrated in certain well-known centers known as Stock Exchanges. It has its impact in the overall economy, wherever suppliers and users of capital get together and do business.
(v) Market for Financial Assets
Capital market provides a transaction platform for long term financial assets.

One of the important requisites for the accelerated development of an economy is the existence of a dynamic and a resilient financial market. A financial market is of great use for a country as it helps the economy in the following manner.
(i) Savings Mobilization:
Obtaining funds from the savers or surplus units such as household individuals, business firms, public sector units.Government is an important role played by financial markets.
(ii) Investment:
Financial market plays a key role in arranging the investment of funds thus collected, in those units which are in need of the same.
(iii) National Growth:
 Financial markets contribute to a nation's growth by ensuring an unfettered flow of surplus funds to deficit units.Flow of funds for productive purposes is also made possible. It leads to overall economic growth.
(iv) Entrepreneurship Growth:
Financial markets contribute to the development of the entrepreneurial class by making available the necessary financial resources.
(v) Industrial Development:
The different components of financial markets help an accelerated growth of industrial and economic development of a country and thus contributing to raising the standard of living and the society's well-being.

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.

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