There are broadly three types of resolutions, namely ordinary resolution, special resolution and resolution requiring special notice.
a) Ordinary Resolution:
An ordinary resolution is one which can be passed by a simple majority. i.e. if the members of votes cast by members, entitled to vote in favour of the resolution is more than the votes cast against the resolution.
Ordinary Resolution is required for the following Matters
(i) To change or rectify the name of the company
(ii) To alter the share capital of the company
(iii) To redeem the debentures
(iv) To declare the dividends
(v) To approve annual accounts and balance sheet
(vi) To appoint the directors
b) Special Resolution :
1. A special resolution is the one which is passed by a not less than 75% of majority.
2. Special Resolution is required for the following Matters
(i) To change the registered office of the company from one state to another
(ii) To change the objectives of the company
(iii) To change the name of the company
(iv) To alter the Articles of Association
(v) To commence any new business
c) Resolution requiring Special Notice :
There are certain matters specified in the Companies Act, 2013 which may be discussed at a general meeting only if a special notice is given at least 14 days before the meeting.

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.

As per section 11 of the Act, a company having share capital should file with the Registrar, declaration stating that
(i) Every subscriber to the Memorandum has paid the value of shares agreed to be taken by him.
(ii) Paidup capital is not less than Rs.5 lakhs in the case of a public limited company and Rs.1 lakh in the case of private limited company.
(iii) It has filed the Registrar the verification of the registered office.
These restrictions in section 11 are applicable to companies having share capital. It can commence business only after fulfilling all the formalities mentioned above and exercise borrowing powers immediately after incorporation.

(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.

 

Certain presumptions as briefly mentioned below:
(i) Every negotiable instrument is presumed to have been drawn, accepted, etc. for consideration.
(ii) A negotiable instrument is presumed to have been accepted.
(iii) Every negotiable instrument bearing, a date is presumed to have been made or drawn on such a date.
(iv) It is presumed to have been accepted within a reasonable time after the date and before its maturity.
(v) The transfer of a negotiable instrument is presumed to have been made before maturity.
(vi) The endorsements appearing upon a negotiable instrument are presumed to have been made in the order to which they appear thereon.
When a negotiable instrument has been lost, it is presumed to have been duly stamped.
(vi) The holder of a negotiable instrument is presumed to be a holder in due course.

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.

Economic environment:
The business is an integral part ofthe economic system prevalent in a nation. The multiple variables in the macro environment system which has a bearing on a business include
(i) The nature of economy based on the stage of development:
1. The countries across the globe can be categorised on the basis of growth and per capita income as developed nations, developing nations and under developed nations.
2. The USA, Japan, Germany, Canada and Australia developed economies generally have high degree of technological advancement, very strong and robust industrial base, and high standard of living.
3. Many of these developed nations have successtully integrated the computer based technologies with their existing business.
4. Developing nations like India, China, Brazil Mexico are middle income economies are characterised by low to moderate industrial growth, the inequality in the distribution of income, high population, a low standard living and slow absorption of technology.
5. Under developed nations are low income economies with a very low degree of technology adoption and a very poor standard of living.
(ii) The nature of economic systenm: The economic systems can be classified as Capitalistic, Socialistic and Mixed economy. Capitalistic economy is a free enterprise market where individual ownership of wealth is predominant. Socialistic economy is a state controlled with a lot of restrictions on private sector. Mixed economy is a combination of both state owned and private sector ownership.
(iii) The econonmic policies of a nation: Monetary policy, fiscal policy, Export-import policy, Industrial policy. Trade policy, Foreign exchange policy etc., are part of the economic environment.
(iv) Economic indices: The Economic indices like GDP, GNP national income, per-capita income, balance of payments, rate of savings and investments etc., form an important part of economic environment.
(v) Development of financial market: The organisation and development of money market, capital market, securities market and the banking system has a greater impact.
(vi) Economic structure: The Economic structure includes capital formation, investment pattern, composition of trade balance, occupational distribution of workforce and the structure of national output.

(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.

I. Social Marketing
i) Social marketing is a new marketing tool.
ii) It is the systematic application of marketing philosophy and techniques to achieve specific behavioural goals which ensure social good.
iii) For example, this may include asking people not to smoke in public areas, asking them to wear seat belts or persuading them to follow speed limits.
II. Service Marketing
i) Service marketing is a specialized branch of marketing.
ii) A service is any activity or benefit that one party can offer to another which is essentially intangible and which does not result in the ownership of anything like business and professional services insurance, legal service, medical service etc.

They are discussed below :
(i) Product : Product is the main element of marketing. Without a product, there can be no marketing.
(ii) Price : Price is the value of a product expressed in monetary terms. It is the amount charged for the product.
(iii) Place : The third element of product mix, namely place or physical distribution facilitates the movement of products from the place of manufacture to the place of consumption at the right time.
(iv) Promotion : An excellent product with competitive price cannot achieve a desired success and acceptance in market, unless and until its special features and benefits are conveyed effectively to the potential consumers.

(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

(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.

(i) It increases chances new talents and skjlls.
(ii) It would create a healthy competition among the employees.
(iii) The new employees wotild be existing employee of some other organisation.It will be in ideas of other industries.
(iv) It would avoid the problem between the existing employees.
(v) This increased chance provides better availability of skilled and qualified employee.
(vi) One common things they look for is a well experienced and qualified candidate.
(vii) The recruitment is done in a fair manner equally for all candidates where internal politics are avoided.

1. In order to accomplish personal and organisational objectives the unique asset called human resource.
2. The branch of management that deals with managing human resource is known as Human Resource Management.
3. In an organisation the human resource are the employees who are inevitable for the survival and success of the enterprise.
4. It incudes the overall progress of the employee and the enterprise

(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 functions of stock exchange are as follows:
(i) Ready and continuous market:
(a) Stock exchange is a market for existing securities.
(b) If an investor wants to sell his securities, he can easily and quickly dispose them off on a stock exchange.
(ii) Correct evaluation of securities:
(a) The prices at which securities are bought and sold are recorded and made public.
(b) These prices are called "market quotations".
(iii) Protection to investors :
(a) All dealings in a stock exchange are in accordance with well-defined rules and regulations.
(b) For example, brokers cannot charge higher rate of commission for their services. Any malpractice will be severely punished.
(iv) Proper channalisation of capital :
(a) People like to invest in the shares of such companies which yield good profits.
(b) The savings of individuals are directed towards promising companies which declare good dividends over a period of time.
(v) Aid to capital formation :
(a) Thepublicity whichthe stock exchange gives to varjous industrial securities and their prices.
(b) Stock exchanges thus ensures a steady flow of capital into industry and assists industrial development.

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.

(i) Venture Fund Institutions :
(a) Venture capital financing is a form of equity financing designed especially for funding new and innovative project ideas.
(b) Many specialised financial institutions have promoted their own venture capital funds.
(c) They include Risk Capital Foundation of IFCI, Venture capital of IDBI, SIDBI,TDICI and others.
(ii) Mutual Funds :
(a) Financial institutions that provide facilities for channeling savings of smallinvestors into a venues of productive investments are called "Mutual Funds".
(b) Specialized financial institutions like LIC,UT,etc., beside Commercial banks such as SBI, and Canara Bank are carrying out the business of mutual funds.
(iii) Factoring Institutions :
(a) "Factoring" is an arrangement whereby a financial institution provides financial accommodation on the basis ofassignment/ sale of account receivables.
(b) 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.
(iv) Over the Counter Exchange of India (0TCEI) :
(a) The OTCEI was set up by a premier financial institution to allow the trading of securities across the electronic counters throughout the country.
(b) It addresses some specific problems of both investors and medium-size companies.
(v) National Stock Exchange of India Limited :
(a) NSEI was established in 1992 to function as a model stock exchange.
(b) The Exchange aims at providing the advantage of nation-wide electronic screen based "scripless" and "loorless" trading system in securities.

 

S.No	Basis of Comparison	New Issue Market	Secondary Market
1.	Meaning	The market place for new shares is called primary market.(Initial Issue Market)	The place where formerly  issued securities are traded is known as Secondary market.(Resale Market)
2	Buying	Direct	Indirect
3.	Financing	It supplies funds to budding enterprises and also to existing companies for expansion and diversification.	It does not provide funding to companies.
4.	Buying and selling between	Company and Investors	Investors
5.	Gained Person	Company	Investors
6	Intermediary	Underwriters	Brokers

Henry Fayol is the father ofmodern management. The following are the major principles of modern management are,
1. Division of Work:
According to this principle the whole work is divided into small tasks. The specialization of the workforce according to the skills of a person,creating specific personal and professional development within the labour force and therefore increasing productivity.
2. Authority and Responsibility:
Authority means the right of a superior to give the order to his subordinates; whereas responsibility means obligation for performance.
3. Discipline:
It is obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organisations.
4. Unity of Command:
This principle states that each subordinate should receive orders and be accountable to one and only one superior.
5. Unity of Direction:
All related activities should be put under one group, there should be one plan of action for them and they should be under the control of one manager.