25 Definitions Production Management

1. Production

The process of converting inputs into outputs with the help of certain conversion processes.

2. Production Management

The planning and organisation of various activities associated with the conversion of inputs into outputs.

3. Manufacturing Process

The use of a certain pattern and procedure in order to produce a particular type of output in particular quantity or number.

4. Jobbing

The process of producing one single unit of a product without moving onto the next unit unless and until the previous unit is completed.

5. Project

A temporary endeavour producing an output with a defined starting and ending point.

6. Batch

The process of producing a batch of units together, requiring a certain type of treatment.

7. Line manufacturing

The process of treatments and works carried on a product in stages.

8. Continuous

The process of production of a product which goes on continuously for moths or oven years together, for example, cement manufacturing.

9. Assembly Line

The process in which outputs of multiple lines are assembled at the end to form the final product.

10. Mass Manufacturing

The manufacturing process type in which a huge number of smaller units of the product are produced together.

11. Professional Services

The services rendered by licensed and certified professionals who usually belong to a professional group, for example, Accountants, Lawyers, Doctors.

12. Services Shop

The actual place where services are delivered to the customer.

13. Plant Layout

The arrangement and design of various manufacturing equipment at a plant.

14. Production Planning

The framing of policies and strategies regarding various Production processes to be carried out in future.

15. Production Control

The application of various controlling techniques and measures used to bridge the gap between actual and desired results.

16. Aggregate Planning

Aggregate planning is an
operational activity that does an
aggregate plan for the
production process, in advance of
2 to 18 months.

17. Quality

In manufacturing, a measure of excellence or a
state of being free from defects, deficiencies and
significant variations.

18. Quality Assurance

The maintenance of a desired
level of quality in a service or
product.

19. Service Quality

Service quality is used in business to refer to
the assessment of how satisfying a service is,
according to the customer's expectations.
Service quality is achieved by comparing the
expected service to the service currently
being offered.

20. Six Sigma

Six Sigma is a management philosophy developed by
Motorola that emphasizes setting extremely high
objectives, collecting data, and analyzing results to
a fine degree as a way to reduce defects in
products and services.

21. Productivity

Productivity is the ratio of output to inputs in
production; it is an average measure of the
efficiency of production. Efficiency of
production means production’s capability to
create incomes.

22. Work Study

an analysis of a specific job in an
effort to find the most efficient
method in terms of time and
effort.

23. Work Sampling

Work sampling is the statistical technique for
determining the proportion of time spent by
workers in various defined categories of activity
(e.g. setting up a machine, assembling two
parts, idle…etc.).

24. Down Time

The period of time when something, such as
a factory or a piece of machinery, is not in
operation, especially as the result of a
malfunction.

25. Cycle Time

The period required to complete one cycle of an
operation ; or to complete a function, job , or task
from start to finish. Cycle time is used in
differentiating total duration of a process from
its run time .

Guess Production Management

GUESS, PRODUCTION MANAGEMENT, BBA II

UNIT I

Nature, Meaning and Significance of Production Management
Diagrammatic Representation of Production Process
Process Types in Manufacturing (Project, Jobbing, Batch, Line, Mass, Continuous)
Professional Services (meaning only)
Plant Layout (concept only)

Unit II

Production Planning and Control (introduction)
Production Planning Techniques
Aggregate Planning

Unit III

Introduction to Quality
Quality Characteristics of Goods and Services
Quality Improvement Techniques
Six Sigma and its Applications

Unit IV

Productivity (Concept and Mathematical Formula)
Productive Improvement Techniques (Work Study, Method Study, Time Study, Work Sampling...... concepts only)

Abrar Ul Mustafa

Uploaded on blog too www.sufhaa.blogspot.com

Important Definitions coming soon

33 Important Definitions of Marketing (All Units)

1. Marketing

The process of identifying or creating needs and fulfilling them profitably.

2. Marketing Management

The planning and organisation of all the processes of meeting customers needs profitably.

3. Marketing Environment

The sumtotal of all the various factors that influence the Marketing of a company.

4. Consumer Behaviour

The combination of various factors: knowledge, exposure, peer influence, etc; that affect a consumer's purchase decision.

5. Market

A place where buyers and sellers meet and exchange products against a price.

6. Consumer Market

A market where products are sold to individual consumers in smaller quantities or numbers.

7. Industrial Market

A market where products are sold to businesses like colleges, govt departments, etc. Here products are sold in bulk.

8. FMCG
Fast Moving Consumer Goods

Those consumer goods which are sold to individuals in smaller units or quantities but are sold frequently, for example, Shampoo, Bread, etc.

9. Consumer Durables

Those products which are sold to individuals but are big and complicated products and aren't bought frequently, for example, Car, Refrigerator, etc.

10. Industry

A group of all companies offering a same type of product, for example, Automobile Industry.

11. Market Potential

The unmet demand for a particular product in a particular market at a particular time is called the Market Potential.

12. Market Share

The total sales percentage achieved by a company out of the total sales by all companies in a particular market for a particular time period.

13. Sales Potential

The numerical difference between Market Potential and Market Share is called Sales Potential.

14. Professional Services

It's an industry of technical or unique function performed by independent contractors or consultants whose occupation is the rendering of services.

15. Segmentation

It's the process of dividing the heterogenous market into segments which are homogenous so as to target one or more segments effectively.

16. Market Targeting

It's the process of targeting one segment, already selected, by a certain mix of Marketing Communication plan.

17. Positioning

Positioning is defined as the way by which the marketers attempt to create a distinct impression in the customer's mind.

18. Product Differentiation

Development or incorporation of attributes (such as benefits, price, quality, styling, service , etc.) that a product's intended customers perceive to be different and desirable.

19. Marketing Mix

It's the perfect blend among various attributes of Product, Place, Promotion and Price of an offering. In services, the mix extends to other 3 Ps: Physical Evidence, People and Process.

20. Brand

It's the identity of a product which can be made up of words, colours, images, logos, icons, etc etc.

21. Branding

Branding is the activity of creating such a Brand which stands out amongst others and displays a distinct identity of a product.

22. Price

Price is the monetary exchange value of a product.

23. Marketing Communication

It's the aggregate of various tools (Advertising, Sales Promotion, Personal Selling, Direct Marketing) used to convey the right message to a large number of intended audience.

24. Advertising

Advertising includes all messages a business pays to deliver through a medium to reach a targeted audience.

25. Sales Promotion

Sales promotions are the set ofmarketing activities undertaken to boost sales of the product or service.

26. Direct Marketing

It's the process of reaching out to a market on a personal basis or mass media basis.

27. Marketing Channels

A marketing channel is a set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption.

28. Channel Motivation

It's the process of impressing the channel members so that they may promote a company's products with some efforts.

29. Product Mix

The variety of products offered by a company.

30. Product Line

Various varieties of one single kind or class of a product, for example, different varieties of Shampoo.

31. Product Breadth or Width

The total number of different product classes offered by a company, for example, Shampoo, Soap, Cream, Toothpaste.

32. Product Mix Length or Depth

It's the total number of different kinds or varieties of products offered in a single product line, for example, in Shampoo Line, a company offers Protein Shampoo, Herbal Shampoo and Anti Dandruff Shampoo.

33. Consistency

It means how closely the different products of a Product Mix are related to one another, how similar the products are.

Process of Chanel Selection

Process of Chanel Selection

1. statement of objectives,
2. market analysis,
3. environmental analysis,
4. identification of feasible
alternatives,
5. functional analysis,
6. financial analysis
and
7. channel selection.

Product Mix

What Is a Product Mix?

Product mix, also known as product assortment,
refers to the total number of product lines that a
company offers to its customers. For example, a
small company may sell multiple lines of products.
Sometimes, these product lines are fairly similar,
such as dish washing liquid and bar soap, which are
used for cleaning and use similar technologies.
Other times, the product lines are vastly
different, such as diapers and razors. The four
dimensions to a company's product mix include
width, length, depth and consistency.

Width

The width of a company's product mix pertains to
the number of product lines that a company sells.
For example, if a company has two product lines,
its product mix width is two. Small and upstart
businesses will usually not have a wide product mix.
It is more practical to start with some basic
products and build market share. Later on, a
company's technology may allow the company to
diversify into other industries and build the width
of the product mix.

Length

Product mix length pertains to the number of
total products or items in a company's product
mix, according to Philip Kotler's textbook
"Marketing Management: Analysis, Planning,
Implementation and Control." For example, ABC
company may have two product lines, and five
brands within each product line. Thus, ABC's
product mix length would be 10. Companies that
have multiple product lines will sometimes keep
track of their average length per product line. In
the above case, the average length of an ABC
Company's product line is

Depth

Depth of a product mix pertains to the total
number of variations for each product. Variations
can include size, flavor and any other
distinguishing characteristic. For example, if a
company sells three sizes and two flavors of
toothpaste, that particular brand of toothpaste
has a depth of six. Just like length, companies
sometimes report the average depth of their
product lines; or the depth of a specific product
line.

Consistency

Product mix consistency pertains to how closely
related product lines are to one another--in
terms of use, production and distribution. A
company's product mix may be consistent in
distribution but vastly different in use. For
example, a small company may sell its health bars
and health magazine in retail stores. However, one
product is edible and the other is not. The
production consistency of these products would
vary as well.

Product Market Mix Strategy

Small companies usually start out with a product
mix limited in width, depth and length; and have a
high level of consistency. However, over time, the
company may want to differentiate products or
acquire new ones to enter new markets. A
company can also sell the existing products to new
markets by coming up with new uses for their
product.

Marketing Mix

Marketing mix (Price, Place,
Promotion, Product)
When marketing their products firms need to
create a successful mix of:
the right product
sold at the right price
in the right place
using the most suitable promotion.
To create the right marketing mix, businesses have
to meet the following conditions:
The product has to have the right features - for
example, it must look good and work well.
The price must be right. Consumer will need to buy
in large numbers to produce a healthy profit.
The goods must be in the right place at the right
time. Making sure that the goods arrive when and
where they are wanted is an important operation.
The target group needs to be made aware of the
existence and availability of the product through
promotion. Successful promotion helps a firm to
spread costs over a larger output.
For example, a company like Kellogg's is constantly
developing new breakfast cereals - the product
element is the new product itself, getting the
price right involves examining customer perceptions
and rival products as well as costs of manufacture,
promotion involves engaging in a range of
promotional activities e.g. competitions, product
tasting etc, and place involves using the best
possible channels of distribution such as leading
supermarket chains.The product is the central point
on which marketing energy must focus. Finding out
how to make the product, setting up the
production line, providing the finance and
manufacturing the product are not the
responsibility of the marketing function. However,
it is concerned with what the product means to the
customer. Marketing therefore plays a key role in
determining such aspects as:
the appearance of the product - in line with the
requirements of the market
the function of the product - products must
address the needs of customers as identified
through market research.
The product range and how it is used is a function
of the marketing mix. The range may be broadened
or a brand may be extended for tactical reasons,
such as matching competition or catering for
seasonal fluctuations. Alternatively, a product may
be repositioned to make it more acceptable for a
new group of consumers as part of a long-term
plan.
The price
Of all the aspects of the marketing mix, price is
the one, which creates sales revenue - all the
others are costs. The price of an item is clearly an
important determinant of the value of sales made.
In theory, price is really determined by the
discovery of what customers perceive is the value
of the item on sale. Researching consumers'
opinions about pricing is important as it indicates
how they value what they are looking for as well as
what they want to pay. An organisation's pricing
policy will vary according to time and
circumstances. Crudely speaking, the value of
water in the Lake District will be considerably
different from the value of water in the desert.
The place
Although figures vary widely from product to
product, roughly a fifth of the cost of a product
goes on getting it to the customer. 'Place' is
concerned with various methods of transporting
and storing goods, and then making them available
for the customer. Getting the right product to
the right place at the right time involves the
distribution system. The choice of distribution
method will depend on a variety of circumstances.
It will be more convenient for some manufacturers
to sell to wholesalers who then sell to retailers,
while others will prefer to sell directly to retailers
or customers.
The promotion
Promotion is the business of communicating with
customers. It will provide information that will
assist them in making a decision to purchase a
product or service. The razzmatazz, pace and
creativity of some promotional activities are almost
alien to normal business activities.
The cost associated with promotion or advertising
goods and services often represents a sizeable
proportion of the overall cost of producing an item.
However, successful promotion increases sales so
that advertising and other costs are spread over a
larger output. Though increased promotional
activity is often a sign of a response to a problem
such as competitive activity, it enables an
organisation to develop and build up a succession of
messages and can be extremely cost-effective.

Guess BBA II, MARKETING MANAGEMENT

Concert , Nature and Scope of Marketing Management
Marketing Philosophies
Consumer and Industrial Markets (Classification of Market on the basis of Customer)
Market Measurement:  (Sales Potential, Market Share)

STP Cycle (Meaning of Segmentation, Basis of Segmentation, Process of Segmentation)
Market Targeting (concept only)
What's Positioning? (Nature, concept, importance)

What's Marketing Mix?
Product Mix (Definitions of Depth, Breadth, Length of Product Mix)
New Product Development
Product Life Cycle
Pricing Methods

Concept of Marketing Communication
Advertising, Personal Selling, Sales Promotion (use of Communication Mix)
Channels of Distribution (Levels and Types)
Role/Functions of Chanel Members

Difference between Training and Development

What is the Difference Between Training and
Development?
A handy summary defining and outlining the
differences between the terms ‘training’ and
‘development’, with examples.
Often the terms ‘training’ and ‘development’ are
used interchangeably. They are, however, quite
distinct. Here’s how we define them:
Training
Training is any learning activity targeted towards
the acquisition of specific knowledge or skills for
carrying out a job or task. The learning is applied
in a similar situation to that in which it is learned.
Here are some examples:
completing a computer-based module on
managing budgets in order to improve the way
you manage your project finances
shadowing or observing a colleague to learn how
to operate a till so that you can serve customers
attending a presentation skills course in order
to improve your ability to present proposals to
clients
Development
Development is a continuous, general and dynamic
expansion of skills and knowledge, and is aimed at
long-term career growth rather than immediate
performance. The transfer of learning is non-
specific as it involves learning general skills rather
than how to perform particular tasks, and the
setting in which the learning takes place is often
quite different from the setting in which it is
applied. Some examples are:
going on an influencing and negotiation skills
course to help you manage customer
expectations more effectively
attending a teambuilding event to improve the
way you and your colleagues work together
finding a mentor within your organisation to
introduce you to the structure and culture at
senior levels in your organisation and give you
more exposure to senior management
You’ll want to focus on both training and
development to ensure that your team members
are able to perform to the best of their ability,
not only in the short term (their current jobs), but
also in the long term (their future careers).

Executive Compensation Issues

Executive Compensation in Six Steps
Editor's note: The following article is based on a
presentation at the CUPA-HR National Conference
& Expo held in St. Louis in October 2008.
It's no surprise that executive compensation is a
hot topic these days, with the excesses of
corporate greed highlighted nearly daily in the
media. However, the focus on executive
compensation is not limited to the firms on Wall
Street. Over the past several years there have
been documented cases of abuse throughout the
nonprofit community, including within academia.
In 2004, the Internal Revenue Service (IRS)
launched a targeted audit program of tax-exempt
organizations. The results, published in 2007,
revealed significant levels of confusion regarding
the instructions for completing Form 990 and
identified other problems associated with excessive
salary, incentive compensation, and perquisites not
reported as compensation in the nonprofit
community. In response, the IRS revised Form 990
and launched a compliance project that included a
specific focus on the higher education community.
In October 2008, the IRS issued a 37-page
compliance questionnaire to approximately 400
colleges and universities inquiring specifically about
their endowment and executive compensation
policies.
While the amounts of compensation, bonuses, and
perquisites found in higher education may pale in
comparison to those in the for-profit world, they
elicit mixed responses within the academic
community. Their mere existence can spark
controversy, especially in times of shrinking
budgets and rising tuition costs. However, the
ability to recruit, retain, and reward key
employees is as essential in higher education as in
the corporate sector, and is largely accomplished
through the use of a variety of executive
compensation arrangements. The issues surrounding
the design of these arrangements in both the
business and educational communities are similar.
Marketplace characteristics and competitive
pressures, the public's demand for accountability
and disclosure, and the changing legislative and
regulatory environment all have an impact on the
design of an effective executive compensation
program. On the legislative front, the introduction
of IRC Section 409A by the Internal Revenue
Service has had a major impact on the design of
executive compensation programs. IRC Section 409A
governs all nonqualified deferred compensation
plans, a key component of any executive
compensation program. Independent colleges and
universities also must determine executive
compensation in accordance with IRC Section 4958
intermediate sanction provisions.
A sound executive compensation program begins and
ends with good governance and a well-established
compensation philosophy, policies, and practices in
line with the institution's overall goals and
objectives. Good governance practices must include
peer-group analysis and a review of the total
compensation package (including perquisites such as
housing and car allowances along with business and
entertainment expenses) and must provide for
performance measurements that clearly define
success. Good governance practices should also be
well documented and adhere to all legislative and
regulatory requirements. Now more than ever—with
the watchful eye of Congress and the public—good
governance must include adherence to the three
C's: compliance, coordination, and communication.
The Three C's
Compliance with the legislative and regulatory
requirements surrounding executive compensation
and nonqualified deferred compensation plans is
critical in order to avoid intermediate sanctions,
fines, and potential disqualification of the plans
themselves. Coordination of all arrangements
established throughout the university—whether for
a star faculty member, university president, or
athletic coach—should be centrally managed and
maintained to ensure all arrangements are in line
with the overall executive compensation policies and
practices of the institution. And, communication
throughout the organization—faculty,
administration, board of trustees—is critical so
that no surprises or inconsistencies in policy and
practice are present.
Development of a comprehensive executive
compensation program should be looked at as a
joint venture among key stakeholders. These
include members of an institution's board of
trustees and senior administrative officials such as
the business officer, the human resources director,
and the institution's legal counsel.
Executive compensation can be divided into four
general components: base salary, standard
employee benefit plans, supplemental short- and/
or long-term incentive compensation plans, and
perquisites. Focusing on the supplemental plans,
tax-exempt and governmental institutions are
limited in comparison to their for-profit
counterparts in what can be provided key
employees. There are several types of executive
compensation arrangements commonly used in the
higher education marketplace. ( See sidebar,
"TIAA-CREF Fact Sheets on Executive
Compensation Arrangements
.") In general, public institutions tend to have more
options than private institutions because they are
exempt from certain ERISA reporting and
disclosure requirements and IRS coverage and
nondiscrimination rules.
Designing an effective executive compensation
program can generally be broken into the following
six steps.
1. Analyze existing benefit plans and executive
compensation arrangements. One of the first
things you will want to do is review the benefits
provided under the standard package of employee
benefit plans that will be offered to the key
employee. Analysis of the base retirement and tax-
deferred savings plans is necessary in order to
identify gaps in coverage and opportunities that
maximize benefits provided under the available
limits. In other words, do the math. Addressing
what is needed or desired can only be accomplished
after determining what is already being provided.
For existing executive compensation arrangements,
you will want to determine if the programs still
meet their primary objectives and remain in
compliance with current regulatory and legislative
requirements. You will also want to analyze the
administrative requirements and costs of the
benefit program to ensure that it remains
affordable and efficient. Finally, as with any
employee benefit plan, you will want to ensure that
the executive compensation package that is being
offered or considered is not only adequate, but
also understood and appreciated by the key
employee.
2. Establish primary plan objectives for executive
compensation program. This step basically asks the
question, why are we considering development of a
supplemental executive compensation package?
Is it simply to provide the key employee with
additional retirement contributions above and
beyond those provided by the standard employee
benefit plans?
Is it to restore benefits lost under these
standard plans due to the IRS limits placed on
compensation or nondiscrimination testing?
Is it to provide the key employee with additional
salary deferral opportunities?
Is it to attract or retain the services of a key
employee or to reward performance?
The answer to these questions will help identify the
most appropriate executive compensation
arrangement for the circumstance. "Yes" answers
to the first three questions can, in many cases, be
accomplished without complex plan designs and—
depending on the amounts under consideration—
within the established limits of eligible nonqualified
deferred compensation plans. Plans with an
objective of recruiting and retaining the services
of key employees generally tend to be more
complex in design and involve higher compensation
limits.
3. Identify optimal plan design features. Once you
have determined the plan's primary objective, you
will want to gauge the relative importance of
certain design features from an institutional
perspective. A common consideration is the issue of
public disclosure and/or Form 990 reporting. In the
case of a highly recruited athletic coach, these
issues generally tend to get played out in the local
media and are difficult to manage. However, the
type of plan selected will determine when or how
the compensation is disclosed. (Note: all public
institution information is subject to state open
records laws, and independent institutions must
disclose all compensation in the Form 990.)
Other considerations include determining the
importance of protecting the benefit from the
institutions' creditors, whether future service
requirements are required, and when benefits are
to be made available. (Some plans, such as 457(f)
arrangements and 457(b) plans of tax-exempt
organizations, must be "unfunded," whereby the
assets remain the property of the institution and
must be made available to creditors until they are
distributed.) Design features such as rolling risks
of forfeiture, the use of non-compete agreements,
or requirements for performance of consulting
services following separation from service are
generally no longer available.
4. Determine tax and distribution strategy. Of
great importance to both the institution and the
key employee is the tax liability and distribution
strategy associated with the executive
compensation plan selected. Although tax-exempt
and governmental employers do not have the same
tax incentives as for-profit organizations when
establishing executive compensation arrangements,
some plan designs have bookkeeping requirements
that must be considered. The institution also must
determine the importance of employer control of
the assets and benefit distributions prior to and
after vesting or before retirement. Of particular
concern to the key employee are the individual tax
consequences of the benefits during the
accumulation phase, upon vesting, prior to
distribution, and following separation from service.
Rules vary by plan type and must be analyzed
carefully.
5. Select appropriate financing methodology.
Depending on the type of executive compensation
plan under consideration, an institution will need to
base its financing strategy on projections of future
assets, benefit liabilities, and cash flows. Simply
put, how is the institution going to pay for or
account for the benefits promised? Common
financing arrangements include:
Cash/lump-sum settlement (pay as you go).
Shadow account (defined interest and earnings
assumptions).
Institutionally owned annuity/mutual fund
accounts.
Institutionally owned life insurance policy.
Use of Rabbi Trust, Employee Trust.
From the key employee's perspective, various
funding arrangements tend to involve a trade-off
between the level of security provided on the
underlying benefits and the amount of tax deferral
that can be achieved. Certain executive
compensation arrangements have maximum
contribution limits placed on them with the benefit
of spreading out the tax liability over time upon
distribution while others provide for unlimited
contribution amounts but are heavily taxed upon
vesting or distribution.
6. Establish guidelines for periodic review and
evaluation. As previously mentioned, a successful
executive compensation program begins and ends
with good governance and compliance with all
legislative and regulatory requirements. It is
critical to review these arrangements on an annual
basis to ensure they remain consistent with the
institution's overall compensation philosophy,
policies, and practices and are in compliance with
applicable laws and regulations.
While the focus of this article centered on the
types of executive compensation packages most
commonly used in higher education, the annual
review should take into consideration the total
compensation package: base salary, benefits,
short- and long-term incentive programs, and
perquisites. It is also important to ensure that all
executive compensation plans are well documented,
including the decision-making process and
procedures that went into their development. And
finally, good governance requires involving all of
the key stakeholders (human resources, finance/
business office, and legal counsel) and clear
communication between senior leadership and the
institution's governing body.
Nancy Taylor is director of executive compensation
and institutional product management for TIAA-
CREF. E-mail: ntaylor@tiaa-cref.org

Personal planning recruiting

Personnel Planning and Recruiting
Personnel planning are the first step in the
recruiting and selection process. It is the process
of determining an organization’s human resource
needs. By such planning an organization ensures
that it has right number and kinds of people.
Employment or personnel planning is the process of
deciding what positions the firm will have to fill
and how to fill them.

Forecasting Methods Used in Personnel Planning
and Recruiting

Proactive planning for personnel needs helps to
ensure future organizational success.
Human-resources departments plan for future
staffing requirements based on the forecasting of
positions the company must fill to meet future
needs. Forecasts are based on the estimated
demands for products and services. Therefore,
revenues are determined first and staffing plans
developed accordingly. Forecasts of demand are
calculated based on company-wide needs or
individual units. Three possible areas to forecast
are anticipated personnel headcount, the present
supply of internal candidates and the supply of
external candidates.
Personnel Needs
Trend analysis is used to review the past
employment needs to predict future needs. There
are two ways used most frequently in trend
analysis. The first is computing the number of
employees at the end of a certain number of
years. The second way is the number of employees
in a certain function (i.e. sales, marketing, human
resources, finance and administrative). Sometimes,
it is best to use both methods to cover all bases.
Present Supply of Internal Candidates
Qualification inventories are one way of forecasting
inside candidates. A list of employees, their
education, any internal training, special skills, and
succession planning for promotion is beneficial to
the future planning. A second method is referred
to as personnel replacement. This is defined as the
employee's present performance and the desire
for promotion to additional positions based on
performance, skills and experience.
Related Reading: Statistical Methods of Sales
Forecasting
Future Supply of External Candidates
There are numerous factors to consider for
external candidates. They include the geographic
area of the company, potential candidates
graduating from high school or college, individuals
entering or leaving the workforce, the level of
skills and experience required to perform the
internal jobs and the competing employers for the
same skill set. This information is beneficial in
determining competitive benefits and salary
offerings.
Researching Internal and External Staffing
Resources
Obtaining candidates to meet future needs is an
important part of the forecasting process. Internal
postings can build morale as employees appreciate
the opportunity to move up in the organization.
Employee-referral programs can be beneficial in
bringing qualified people into the organization. Top
performers tend to know other top performers,
and a cash award is motivation to present
employees to recommend these qualified
candidates. Other external-staffing resources
include temporary agencies, colleges, job boards
and social-networking sites.

Control and Review Mechanism in HRM

Following is the outline through which Control and Review is done.

Refer to the diagram.

HRM FRAMEWORK

Following are the elements of HRM Framework:

Refer to the diagram

Cracking UGC-NET/JRF

www.greaterkashmir.com/news/2013/Sep/16/cracking-ugc-net-jrf-58.asp

Farewell Speech

Alfred de Musset once said, "The return makes one love the separation."
Honourable Chairman, worthy director, valued guests, the galaxy of intellectuals, my dear scholars, A very Good Morning to you all.

Today, when we are parting away from you, a huge number of flashbacks come to my mind. I remind how I used to weep and cry my heart out when I left my friends and mentors. Today, a same feeling and atmosphere is found here in this piece of the world. But, my dear audience, there are a number of aspects that need to be touched and pondered upon. Dear students, who are leaving this seat of learning and their juniors, need to understand one important aspect and that is if we don't part from each other, how can we meet again. Parting and meeting is the story of life. Nothing remains as such forever. Change is the only thing constant. It continuously happens in one form or the other.  So friends, don't stop, don't settle, never back down, keep moving.

Today, I will share with you a story of a fish called as Solomon. You know, this fish takes birth in fresh water, either in a river or a stream. It lives here for nearly two years. Then it goes into the oceans and lives its entire life of seven or eight years there. But, when it lives its life , just before its death, it returns to freshwater; not only to fresh water but to that particular stream or river in which it had taken its birth. Astonishingly, it returns to the exact place where it had begun its struggle of life. Isn't this wonderful. But, my dear students, this is not just a simple piece of information. It reminds us a lot. It reminds us about what we call memory and what we call obedience. This fish returns to die there. It pays a kind of homage, a kind of honour to that place which had made it capable of standing on its own and taught her to live. This fish doesn't forget its past.

So, dear friends, tomorrow, In Sha Allah, we may be officers, we may be administrators, teachers, business persons, we may be religious scholars; don't forget your past, don't forget the people behind your success, don't forget the walls that taught you lessons, morals, values and much more.
Whenever you reach the heights of success and status, look back and continuously remind yourselves about what you were, who helped you, who corrected you and who steered your sinking ships in the right direction.

Dear students, from now on, we need to split into our respective fields. Take this step with caution. Make a deep research. Try to identify the capabilities in you. Think wherein you're interested and choose a career path keeping this in mind. Let your interest and your capability decide your career.

Having said this, I will not miss this golden opportunity to express my sincere gratitude towards all the staff of Greenland family for making us what we are today. I know that this is an irrevocable debt. I can't pay it back and a small thank you is not going to work, but still I would like to thank you for being with us like mentors who shaped the unshaped mud into masterpieces.

My experience here with you all has been fabulous. There are so many memorable moments that I am going to take with me and they are going to stay with me. My experience here has been emotional. The love, care and heartly attachment is surely going to be missed. I will miss you all.

Well, this is all I want to say. I conclude with this piece of poetry:
SABAQ FIR PADH SADAQAT KA, SHUJAAT KA, ADALAT KA
LIYA JAYEGA TUJH SE KAAM DUNIYA KI IMAMAT KA
ALL THE BEST AND THANK YOU SO MUCH!

Deference between Bailment and Pledge

Bailment vs Pledge

The words bailment and pledge are used
mainly in terms of contract. They can be seen
being referred to by lawyers in a court of law
to prove their point. Bailment is a type of
contract and pledge is also a type of contract.
People who are not aware of the origin of
these words use them in the same breath as if
they are interchangeable which is not correct.
This article will throw light on these two
concepts as they hold significance in
jurisprudence.
Bailment
The act of delivering goods for a special
purpose is termed as bailment. The person who
is delivering the goods is called a bailor while
the person who receives the goods is referred
top as a bailee in the contract. The goods that
are transferred in this manner shall be
returned to the owner upon completion of the
purpose of the contract. The point to be
remembered in this kind of transaction is that
ownership of the goods does not get changed.
In bailment, only goods are involved, and all
movable items apart from property and money
come under bailment. Thus it is clear that
when you keep money in a bank account, it
does not come under bailment.
Pledge
But, if a person keeps his gold or other
valuable items in a bank locker or with a
money lender in exchange for a loan, he is
making a pledge to the money lender or the
bank that he will return the money and get
back his valuables. This is deemed as a kind of
bailment and all conditions that are applicable
on a bailment apply in such a case also.
Bailment for security can be termed as a
pledge. You are keeping your valuables with
the money lender as a security against the loan
and also making a pledge to pay back the
money. To your pledge, the money lender
agrees to keep the valuables as a security. In
this special type of bailment where goods act
as a security for payment of loan is called a
pledge.
In brief:
Bailment vs Pledge
• Bailment is an act of transferring goods to
another person and such goods need to be
returned to the owner after the completion of
the purpose
• Bailment involves only goods other than
property and money
• Pledge is a special type of bailment where
you promise to pay the money a money
lender gives in exchange for your valuable
goods that act as a security.

Pledge

PLEDGE :-

It is defined in the following words, "Bailment
of goods as a security for the payment of a
debt or performance of a promise is called
pledge."

Bailor is called pledgor or "Pawnor" and Bailee
is called "Pawnee" or pledgee.

Example :- Mr. Shukla borrows Rs. Ten
thousands from Mr. Pritam and keeps his
motor cycle as security for payment of the
debt. The bailment of motor cycle is called
pledge.

Note : In this example Mr. Shukla is a Pawnor
and Mr. Pritam is a Pawnee.

BASIC ESSENTIALS OF PLEDGE :-

Following are the important essentials of
pledge :

1. Moveable Property :-
The pledge is concerned with the moveable
property. All types of goods and valuable
documents are included in it.

2. Transfer of Possession :-

In case of pledge only possession of goods
transferred by the pawnor to the pawnee.

Example :- Mr. Nelson ledges car with Mr.
Mcculan and gets Rs. 100,000. He gives the
possession of car to Mr Mcculan.

3. Ownership Right :-

In case of pledge, the ownership of the goods
remains with the pawnor. It is not transfered
to pawnee.

Example :- Mr. Wali pledges the plot with Mr.
Raffel and gets 10 lac. The ownership of the
plot remains with Mr. Wali.

4. Case of Mere Custody :-

Those people who have only mere custody of
the goods cannot pledge them.

Example :- A custodian cannot pledge his
masters banglow. It will be invalid pledge.

5. Limited Interest :-

Pledge property cannot be used for unlimited
interest. When a person pledges goods in
which he has only limited interest, the pledge
is valid to the extent of that interest only.

Example :- Mr. Nelson gives car to Mr. Andre
for repair, but does not pay Rs. 20,000 repair
charges. Mr Andre pledges the car with Mr.
Smith and borrows Rs. fifty thousands. This
pledge is valid only up to ten thousands.

MANAGEMENT as a Career

http://www.greaterkashmir.com/news/2013/Jul/29/management-as-a-career-15.asp

http://www.greaterkashmir.com/news/2013/Jul/26/sahar-khawan-waking-up-people-16.asp

KashForum, Valley based first Online Study Site

kashforum.bugs3.com/index.php?/topic/3141-how-is-the-value-of-currency-determined/#entry4033

Rights and Duties of Bailor

DUTIES or RESPONSIBILITIES or LIABILITIES
of the BAILOR :-
Following are the important duties and
liabilities of the bailor :
1. Explain the Defect :-
It is the basic duty of the bailor that he should
disclose all the defects of the goods before
delivering to bailee. If the bailor does not
disclose then he himself will be responsible for
loss.
Example :- Mr. Wands hires a car from Mr.
Zane. Car is defective. Mr. Zane does not
disclose facts that car is defective. Mr. Wands
drives a car and he is injured. Mr. Zane is
responsible to Mr. Wands for damage.
2. Warning to the Bailee :-
If a bailor feels that bailee is showing
carelessness and goods are in danger. He
should give warning to the bailee.
3. Payment of Necessary Expenses :-
It is the duty of the bailor that he should also
pay necessary expenses sustained by the bailee
connection with the bailment.
4. To Indemnify The Bailee :-
It is the duty of the bailor that he should
compensate the loss of bailed which he has
suffered due any one of the following reasons :
a. The bailor was not entitled to make the
bailment.
b. The bailor was not entitled to give direction
in this respect.
c. The bailor was not entitled to receive back
the goods.
IMPORTANT RIGHTS OF BAILOR :-
Following are the important rights of bailor :
1. Right of Return :-
As the purpose of bailment completes bailor
has a right to take back the goods bailed. If
bailee fails to return then bailor has a right to
claim for compensation.
2. Return Before Time :-
With the consent of the bailee the bailor may
return his goods before the specified period.
3. Right of Termination :-
The contract of the bailment can be terminated
by the bailor if the goods bailed are misused
or against the conditions of the contract.
4. Right of Profit :-
The bailor has right to get profit from the
goods bailed according the conditions of the
contract.
5. Gratuitous Good Right Of Return :-
In case of gratuitous bailment the bailor has a
right to terminate the contract at any time. If
bailee cause a loss it may be compensated to
the bailor.

Essentials of a Bailment

1. There should be a contract:

A bailment is based on a contract, i.e., it is
created by a contract. The contract of bailment
may be express or implied. In some cases e.g.,
in case of finder of goods, a contract of
bailment can be implied by law.

2. Delivery of goods by one person to
another:

In bailment, there must be delivery of goods
by one person to another. However, the word,
'delivery' is very wide. It may be actual or
constructive.
It should be noted that in bailment, only
possession of the goods passes from one
person to another. Possession means control
of goods to the exclusion of others. Mere
custody of goods as against possession is not
sufficient. For example, a master while giving
his goods to his servant retains the possession
with him and parts only with the custody of
the goods.
Thus to create bailment, there must be delivery
of goods.

Examples:

(1) A delivers his watch to a watch-maker for
repair.

(2) A lady handed over her old jewellery to a
jeweler for melting and making it into a new
one. Every evening, she used to collect the
half-made jewellery and put in into a box kept
in the shop of the jeweler. She used to keep
the key of the box with her.
One day the box was stolen. Held, the jeweler
was not liable as the jeweler had re-delivered
the jewellery to the lady and as such, the
jeweler could not any more be regarded as a
bailee. The lady must bear the loss herself.
[Kaliaperumal Pillai v. Visolakshmi]
It should be noted that in bailment, only the
possession of the goods is transferred not the
ownership. Again, only movable goods can be
bailed as immovable goods cannot be
delivered.

3. The goods are delivered for certain
purpose:

The purpose may vary from safe-keeping or
safe custody to repairing or changing the form
of the goods.

Examples:

(1) A leaves his suit-case with a Railway Cloak
Room for safe custody.

(2) A gives his watch for repair to a watch-
maker.

(3) A gives a piece of cloth to a tailor for
stitching it into a shirt.

4. The same goods must be returned:

For a transaction of bailment, it is necessary
that the same goods must be returned.
Where money is deposited in a savings bank
account or any other account, it is not a
transaction of bailment because the bank is
not going to return the same currency notes
but will return only an equivalent amount.
However, where money or valuables are kept
in safe custody, it will amount to a transaction
of bailment as these will be returned in specie.
It should be noted that return of goods in
specie does not mean that their form cannot
change.

For example, old ornaments can be
changed into new one. A piece of cloth can be
stitched into a shirt.

Consideration is not necessary in case of
Contract of Bailment :

In case of bailment for mutual benefit of the
bailor and bailee, consideration is there for
both the parties e.g., A gives his watch for
repair to B for Rs. 10. For A, consideration is
repair of his watch and for B, consideration is
Rs. 10. However, in case of bailment either for
the benefit of the bailor or bailee alone,
consideration in the form of something in
return is not there. In such cases the
detriment suffered by the bailor in parting
with the possession of goods is considered as a
sufficient consideration to support the promise
on the part of the bailee to return the goods.

Bailment

Bailment describes a legal relationship in
common law where physical possession of
personal property, or a chattel, is transferred
from one person (the 'bailor') to another
person (the 'bailee') who subsequently has
possession of the property. It arises when a
person gives property to someone else for
safekeeping, and is a cause of action
independent of contract or tort.
General
Bailment is distinguished from a contract of
sale or a gift of property, as it only involves
the transfer of possession and not its
ownership . To create a bailment, the bailee
must both intend to possess, and actually
physically possess, the bailable chattel.
Bailment is a typical common law concept
although similar concepts exists in civil law
(Spain- Depósito).
In addition, unlike a lease or rental, where
ownership remains with the lessor but the
lessee is allowed to use the property, the
bailee is generally not entitled to the use of
the property while it is in his possession.
A common example of bailment is leaving your
car with a valet . Leaving your car in a parking
garage is typically a license , as the car park's
intent to possess your car cannot be shown.
However, it arises in many other situations,
including terminated leases of property,
warehousing (including store-it-yourself) or in
carriage of goods.

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TCI

Trumboo Group of Industries
Srinagar
started their operation in 1952 and at present
the group is engaged in the following business.
Cement Manufacturing
Roller Flour Mills
Real Estate Projects
Horticulture
Tourism
Textiles
The group is professionally managed private
company and is running by the board of
directors. The names and qualifications of the
directors are indicated below.
Mohammad Shafi Trumboo
Chairman
Graduate
Mushtaq Ahmad Trumboo
Managing Director
BA, LLB
Ashfaq Ahmad Trumboo
Director
Graduate
TCIMAX’s brand name is synonymous with
cement and enjoys a high level of equity in the
Jammu and Kashmir market. Our range of
cements and blended cements is marketed
through a network in all the regions of the
Jammu and Kashmir through our Sales Units,
Area Offices, and warehouses.
Social Cause
TCIMAX regularly contributes towards
upliftment of the socially weak sector living in
the surrounding villages. TCIMAX also provides
cement on concessional basis to the local
villages.
Environment
We are having the state of the art modern
pollution control equipment’s, like Reverse Air
Bag House (RABH), ESP and various high
efficiency bag dust collectors have been
installed in all the sections of the plant. All
pollution control equipment’s in the plant have
been supplied by THERMAX Limited. Besides
this online dust monitoring system has been
installed to continuously check dust emission
levels during plant operation.
Plantation
Plantation drive has been carried on the
annual basis.

CEMENT MANUFACTURING

Cement-making process (Credits: Eureka)
Step 1: extraction of raw materials
The raw materials needed to produce cement
(calcium carbonate, silica, alumina and iron
ore) are generally extracted from limestone
rock, chalk, shale or clay. These raw materials
are won from the quarry either by extraction
or through blasting. These naturally occuring
minerals are then crushed through a milling
process. At this stage, additional minerals are
added to ensure the correct chemical
composition to make cement is in place. These
minerals can be obtained from waste or by-
products of other industries, such as paper
ash. After milling, the raw meal (as it is
known) is transported to the plant where it is
stored.
CO2 and cement
Open
Step 2: raw grinding and burning
Grinding produces a fine powder, known as
raw meal, which is preheated and then sent to
the kiln. The kiln is at the heart of the
manufacturing process. Once inside the kiln,
the raw meal is heated to around 1,500°C - it
is of a similar temperature to molten lava. At
this temperature, chemical reactions take place
to form cement clinker, containing hydraulic
calcium silicates.
In order to heat the materials to this very high
temperature, a 2,000°C flame is required,
which can be produced through the use of
fossil and waste-derived fuels. The kiln itself is
angled by 3° to the horizontal to allow the
material to pass through it, over a period of
between 20-30 minutes.
Upon exiting, the clinker is cooled and stored
ready for grinding to produce cement.
Industrial ecology in the UK
Inside a kiln
Step 3: cement grinding and shipping
A small amount of gypsum (3-5%) is added to
the clinker to regulate how the cement will set.
The mixture is then very finely ground to
obtain ‘pure cement'. During this phase,
different mineral materials, called ‘additions',
may be added alongside the gypsum. Used in
varying proportions, these additions, which are
of natural or industrial origin, give the cement
specific properties such as reduced
permeability, greater resistance to sulfates and
aggressive environments, improved
workability, or higher-quality finishes.
Finally, the cement is stored in silos before
being shipped in bulk or in bags to the sites
where it will be used.

Discharge Of Surety

When the liability of the surety is
extinguished, he is said to be
discharged; A surety may be
discharged:
(i) By revocation.
(ii) By the act or conduct of the
creditor.
(iii) By invalidation of the contract
of guarantee.
I. Discharge of surety by
revocation:
(a) Revocation by notice (Sec.
130):
A continuing guarantee may, at
any time, be revoked by the
surety, as to future transactions,
by notice to the creditor. But a
specific guarantee cannot be
revoked if the creditor has given
the loan.
(b) Revocation by death (Sec.
131):
The death of the surety operates,
in the absence of any contract to
contrary, as a revocation of
continuing guarantee for future
transactions. The estate of the
deceased surety will not be liable
for any transactions entered
between the creditor and the
principal-debtor even if the
creditor has no notice of death. In
case the parties have agreed to a
notice of surety's death, then
notice of death will be necessary.
Under English Law also, notice of
surety's death is necessary.
(c) Discharge of surety by
novation (Sec. 62):
A contract of guarantee is a
species of the general contract. As
such, a contract of guarantee is
discharged by novation, i.e., by
substituting a new contract in
place of the old one. The original
contract is discharged.
II. Discharge of surety by the
act or conduct of the creditor:
1. By variation in terms of
contract (Sec. 133):
Any variance made without the
surety's consent, in the terms of
the contract between the
principal-debtor and the creditor,
discharges the surety as to
transactions subsequent to the
variance.
Example:
A becomes surety to C for B's
conduct as a manager in C's Bank.
Afterwards, B and C contract,
without A's consent that B's
salary shall be raised and that he
shall become liable for one-fourth
of the losses on over-drafts. B
allows a customer to overdraw,
and the bank loses a sum of
money. A is discharged from his
surety-ship by the variation made
without his consent and is not
liable to make good the loss.
It should be noted that variation
discharges the surety in respect of
transactions which take place
after the variation. Therefore, he
continues to be liable for the
transactions which were entered
before the variation took place.
2. By release or discharge of
principal-debtor (Sec. 134):
A surety is discharged by any
contract between the creditor and
the principal-debtor by which the
principal debtor is released or by
an act or omission of the creditor,
the legal consequence of which is
the discharge of the principal-
debtor.
Example:
A contracts with B for a fixed price
to build a house for B within a
month, B supplying the necessary
timber. C guarantees A's
performance of the contract. B
fails to supply the timber. C is
discharged from his surety-ship.
Exceptions:
In the following cases, the surety
is not discharged:
(i) Death: Death of the principal-
debtor does not discharge the
surety from his liability.
(ii) Insolvency: Similarly,
insolvency of the principal debtor
does not discharge the surety.
(iii) Omission to sue within the
period of limitation:
The omission of the creditor to
sue within the period of limitation
does not discharge the surety.
Example:
B owes to C a debt guaranteed by
A. The debt becomes payable. C
does not sue B for more than 3
years after the debt has become
payable. Although the debt has
become time-barred, yet the
surety is not discharged from his
liability as surety.
(iv) Release of one of the co-
sureties (Sec. 138):
In case there are co-sureties, a
release of one of them by the
creditor does not discharge the
other; neither does it free a
surety so released from his
responsibility to other co-sureties.
3. By compounding by the
creditor with the principal
debtor (Sec. 138):
A contract between the creditor
and the principal debtor by which
the creditor makes a composition
with, or promises to give time to
or not to sue, the principal-
debtor, discharges the surety,
unless such contract is made with
the consent of the surety.
It should be noted that the surety
is discharged only if the contract
to give time to principal- debtor is
made by the creditor with the
principal-debtor. Therefore, if a
contract is made with a third
party, the surety is not discharged
(Sec. 136).
Example:
C, the holder of an overdue bill of
exchange drawn by A as surety for
B, and accepted by B, contracts
with C to give time to B. A is not
discharged.
4. By creditor's act or omission
impairing surety's eventual
remedy (Sec. 139):
In case the creditor does any act
which is inconsistent with the
rights of the surety, or omits to
do any act which his duty to the
surety requires him to do, and the
eventual remedy of the surety
himself against the principal-
debtor is thereby impaired, the
surety is discharged.
Examples:
(1) B contracts to build a ship for
C for a sum of 2 lakh rupees, to
be paid by installment as the work
reaches certain stages. A
guarantees B's performance to C.
C without the knowledge of A, pre-
pays the last two installments
without the work being completed.
A is discharged by the pre-
payment.
(2) A employs B as a cashier on
the guarantee of C. A promises to
check up the cash of the cashier
at least once a month. He does
not check the cash for 2 months.
The cashier misappropriates the
funds, C is not liable to A on his
guarantee.
It should be noted that the failure
of the creditor to sue the
principal-debtor within the period
of limitation does not discharge
the surety.
5. By loss of surety (Sec. 141):
If the creditor loses, or without
the consent of the surety, parts
with any security given at the time
of contract, the surety is
discharged to the extent of the
value of the security.
It should be noted that the surety
will be discharged only when he
parts with any security given at
the time of contract. He is not
discharged when he parts with
any security given after the
contract of guarantee is made.
Examples:
(1) A advances to B Rs. 2,000 on
the guarantee of C. A also has an
additional security for the Rs.
2,000 by a mortgage of B's
furniture. A cancels the mortgage,
thereby returns the furniture to B.
B becomes insolvent and is unable
to pay anything. C is discharged
from his liability to the extent of
the value of the security
(furniture).
(2) A gives a loan to B on the
security of C. Afterwards, A
obtains B's scooter as a further
security. Subsequently, A gives up
the further security, i.e., returns
the scooter to B. In this case, C is
not discharged to the extent of
the value of the security as the
further security was given after
the loan had already been given.
III. Discharge of Surety by
Invalidation of the Contract :
(i) By obtaining guarantee by
misrepresentation (Sec. 142):
Any guarantee which has been
obtained by means of
misrepresentation made by the
creditor, or with his knowledge
and assent, concerning a material
part of the transaction, is invalid.
(ii) By obtaining guarantee by
concealment (Sec. 143):
Any guarantee which the creditor
has obtained by means of keeping
silence as to the material facts of
circumstances is invalid.
Example:
A engaged B as a cashier. B
misappropriates some cash.
Thereupon, A asks B to bring
some surety who can guarantee
his good conduct. C give his
guarantee for B's good conduct. A
does not inform C about B's
previous misconduct. B again
misappropriates cash. C is not
liable as a surety.
(iii) By the failure of the co-
surety to join (Sec. 144):
Where a person gives guarantee
upon a contract that the creditor
shall not act upon it until the
other co-surety has joined, the
guarantee is not valid if the other
person does not join.
Whether Failure of
Consideration between the
Creditor and Principal debtor
discharged the Surety :
It has already been discussed that
there is, no need of separate
consideration for a contract of
guarantee between the creditor
and surety. But there must be
consideration between the
creditor and the principal debtor.
Therefore, on the failure of such
consideration, surety will be
discharged from his liability.

Quality Improvement Tools. Link to Article with Diagrams

http://www.tutorialspoint.com/management_concepts/basic_quality_tools.htm

Quality Improvement Tools

Introduction:
Most of the organizations use
quality tools for various purposes
related to controlling and assuring
quality.
Although there are a good number
of quality tools specific to certain
domains, fields, and practices,
some of the quality tools can be
used across such domains. These
quality tools are quite generic and
can be applied to any condition.
There are seven basic quality tools
used in organizations. These tools
can provide much information
about problems in the
organization assisting to derive
solutions for the same.
A number of these quality tools
come with a price tag. A brief
training, mostly a self-training, is
sufficient for someone to start
using the tools.
Let's have a look at the seven
basic quality tools in brief.
1. Flow Charts
This is one of the basic quality
tools that can be used for
analyzing a sequence of events.
The tool maps out a sequence of
events that take place sequentially
or in parallel. The flow chart can
be used to understand a complex
process in order to find the
relationships and dependencies
between events.
You can also get a brief idea about
the critical path of the process
and the events involved in the
critical path.
Flow charts can be used for any
field and to illustrate events
involving processes of any
complexity. There are specific
software tools developed for
drawing flow charts, such as MS
Visio.
You will be able to freely download
some of the open source flow
chart tools developed by the open
source community.
2. Histogram
Histogram is used for illustrating
the frequency and the extent in
the context of two variables.
Histogram is a chart with
columns. This represents the
distribution by mean. If the
histogram is normal, the graph
takes the shape of a bell curve.
If it is not normal, it may take
different shapes based on the
condition of the distribution.
Histogram can be used to
measure something against
another thing. Always, it should be
two variables.
Consider the following example:
The following histogram shows
morning attendance of a class.
The .x. axis is the number of
students and the .y. axis the time
of the day.
3. Cause and Effect Diagram
Cause and effect diagrams
(Ishikawa Diagram) are used for
understanding organizational or
business problem causes.
Organizations face problems
everyday and it is required to
understand the causes of these
problems in order to solve them
effectively. Cause and effect
diagrams exercise is usually a
team work.
A brainstorming session is
required in order to come up with
an effective cause and effect
diagram.
All the main components of a
problem area are listed and
possible causes from each area is
listed.
Then, most likely causes of the
problems are identified to carry
out further analysis.
4. Check Sheet
A check sheet can be introduced
as the most basic tool for quality.
A check sheet is basically used for
gathering and organizing data.
When this is done with the help of
software packages such as
Microsoft Excel, you can derive
further analysis graphs and
automate through macros
available.
Therefore, it is always a good idea
to use a software check sheet for
information gathering and
organizing needs.
One can always use a paper based
check sheet when the information
gathered is only used for backup
or storing purposes other than
further processing.
5. Scatter Diagram
When it comes to the values of
two variables, scatter diagrams
are the best way to present.
Scatter diagrams present the
relationship between two variables
and illustrate the results on a
Cartesian plain.
Then, further analysis, such as
trend analysis can be performed
on the values.
In these diagrams, one variable
denotes one axis and another
variable denotes the other axis.
6. Control Charts
Control chart is the best tool for
monitoring the performance of a
process. These types of charts can
be used for monitoring any
processes related to function of
the organization.
These charts allow you to identify
the following conditions related to
the process that has been
monitored.
Stability of the process
Predictability of the process
Identification common cause
of variation
Special conditions where the
monitoring party needs to
react
7. Pareto Charts
Pareto charts are used for
identifying a set of priorities. You
can chart any number of issues/
variables related to a specific
concern and record the number of
occurrences.
This way you can figure out the
parameters that have the highest
impact on the specific concern.
This helps you to work on the
propriety issues in order to get
the condition under control.
Conclusion
Above seven basic quality tools
help you to address different
concerns in an organization.
Therefore, use of such tools
should be a basic practice in the
organization in order to enhance
the efficiency.
Trainings on these tools should be
included in the organizational
orientation program, so all the
staff members get to learn these
basic tools.

Rights of Surety

Rights of Surety

Rights of Surety can be classified into three
groups, as follows;

1. Rights against Principal debtor.
2. Rights against Creditor.
3. Rights against Co-Sureties.

Rights against Principal Debtor

Right to give Notice: When
ever creditor comes to surety,
for the purpose of seeking
payment, surety can give a
notice to principal debtor to
settle the debt.

Rights of Sub-rogation: Sub
rogation is a process where
rights will get shifted from one
person to the other. If surety
makes payment to creditor,
surety gets all rights of
creditor by sub-rogation and
from then onwards surety can
behave like a creditor.

Right of Indemnity: Principal
of indemnity operates between
principal debtor and surety
where principal debtor
becomes implied indemnifier
and surety becomes implied
indemnity holder. Therefore,
surety can make principal
debtor answerable for all
sufferings.

Right to get Securities: In
case where surety makes
payment to creditor, surety
has right to get the securities
given by principal debtor to
creditor.

Right to ask for Relief: From
the date of guarantee, besides
creditor, surety also can bring
pressure on principal debtor
in connection with settlement
of debt.

Rights against Creditor

Right to get Securities: If
Surety makes payment to
creditor, surety can get all
securities into his possession
from creditor.

Right to ask for Set-off:
Surety can give advice to
creditor to sell away the
security and to utilize the
amount thus realized for set
off.

Rights of Sub-rogation: When
ever surety makes payment to
creditor, creditor foregoes or
looses all of his rights in his
capacity as creditor and those
rights will be attained by
surety.

Right to advice to Sue
Principal Debtor: Surety has
right to give advice to creditor
to proceed legally against
principal debtor for the
purpose of recovering the
amount.

Right to insist on
Termination of Services: In
case where guarantee is with
regard to conduct of an
employee, surety can insist on
termination of services of
employee. Here employees
status is equal to that of
creditor and employee’s status
is equal to that of principal
debtor.

Rights against Co-Sureties

Right to ask for
Contribution: Surety can ask
his co-sureties to contribute
the amount when principal
debtor comes across default.
If they have given guarantee
for equal amounts, they have
to contribute equally. In case
where guarantee is given for in
equal amounts, the mode of
contribution differs from
England law to Indian law. As
per England law contribution
is to be made in the ratio of
guarantee amounts. But as per
Indian law the deficit amount
is to be distributed to all
sureties equally and every
surety will contribute share of
deficit or guarantee amount
which ever is less.

Right to claim Share in
Securities: When co-Sureties
make payment to creditor,
they get securities from
creditors procession. Then
every surety can claim his
share in those securities.

Quality, Quality Management: Meaning and Concepts, Quality characteristics of Products and Services

Definition of 'Quality Management'

The act of overseeing all activities and tasks
needed to maintain a desired level of
excellence. This includes creating and
implementing quality planning and assurance,
as well as quality control and quality
improvement. It is also referred to as total
quality management (TQM).

quality

Quality is important to businesses but can be
quite hard to define. A good definition of
quality is:
“Quality is about meeting the needs and
expectations of customers”
Customers want quality that is appropriate to
the price that they are prepared to pay and the
level of competition in the market.
Key aspects of quality for the customer
include:
Good design – looks and style
Good functionality – it does the job well
Reliable – acceptable level of breakdowns or
failure
Consistency
Durable – lasts as long as it should
Good after sales service
Value for money
‘Value for money’ is especially important,
because in most markets there is room for
products of different overall levels of quality,
and the customer must be satisfied that the
price fairly reflects the quality.

In manufacturing, a measure of excellence or a
state of being free from defects, deficiencies
and significant variations . It is brought about
by strict and consistent commitment to certain
standards that achieve uniformity of a product
in order to satisfy specific customer or user
requirements . ISO 8402-1986 standard defines
quality as "the totality of features and
characteristics of a product or service that
bears its ability to satisfy stated or implied
needs."

Drivers of Quality:

1-Customers.
In a customer-driven organization, quality
is established with a focus on satisfying or
exceeding the requirements, expectations,
needs, and preferences of customers.
Customer-driven quality is a common
culture within many organizations.
2-Products / Services:
A culture of product / service-driven
quality was popular in the early stages of
quality improvement. Conformance to
requirements and zero defect concepts
have roots in producing a product /
service that meets stated or documented
requirements.
In some cases, product / service
requirements originate from customer
requirements, thereby creating a common
link to customer-driven quality, but the
focus of the culture is on the quality of
the product/ service.
If the customer requirements is
accurately stated and designed into the
production / service delivery process,
then as long as the product / service meet
the requirements, the customer should be
satisfied. This approach is common in
supporting the ISO 9001-based quality
management system.
3- Employee Satisfaction:
This concept is that an organization takes
care of employee’s needs so that they can
be free to worry only about the customer.
Employee satisfaction is a primary
measure of success for this type of
organization.
4- Organizational focus:
Some organizations tend to focus on total
organizational quality while others are
quite successful at using a segmented
approach to implementing quality.

Why quality is important to a growing
business?

Good quality helps determine a firm’s success
in a number of ways:
Customer loyalty – they return, make
repeat purchases and recommend the
product or service to others.
Strong brand reputation for quality
Retailers want to stock the product
As the product is perceived to be better
value for money, it may command a
premium price and will become more price
inelastic
Fewer returns and replacements lead to
reduced costs
Attracting and retaining good staff

Concepts/Elements in Quality Management
Or
Quality Mgmt Plan

Quality Planning
Quality Assurance
Quality Control

Quality planning allows quality to be designed
into the deliverables of the project before the
first task has begun. It is therefore done
during the development phase of the project
life cycle. It may involve identifying standards
or best practices. Design of experiments is one
tool that identifies which variables will have
the most influence on the final quality of a
product.
Quality planning for GIS projects may include
several important aspects, some of which
overlap with those identified for information
technology projects, and some of which are
unique to GIS. For example, functionality is an
important aspect of many IT projects. If you
are customizing an mapping interface, you will
need to address similar questions of
functionality. If, however, you are creating
paper copies of maps for botanists to use as
they collect samples, functionality of how the
map will be used remains important.
Quality assurance is what must be done
during the actual tasks to ensure that the
standards identified during quality planning
are met. It is therefore done during the
implementation phase of the project life cycle.
There are several tools available for a project
manager to assure the quality of products. One
is quality audits , a structured review of
quality with an eye towards improving
performance. Another is benchmarking,
comparing methods or products with others of
recognized quality. Thus, a benchmark is not
something created in the project, but
something recognized by the project and used
for comparison with products or methods in
the project. Sometimes, benchmarks may be
recognized throughout an industry. Other
times, they may be identified uniquely for use
in one particular project.
Quality control is used to improve the quality
of products or methods by focusing on such
outputs as rework decisions, acceptance
decisions, and adjustment of processes. It is
also done during the implementation phase of
the project life cycle. Rework means that a
product does not meet standards, cannot be
provided to the end user as a deliverable, and
must have additional work done to it to bring
it up to standards. Acceptance means that the
product does meet standards and can be
provided to the end user as a deliverable.
Process adjustments are made to corrective
actions taken to the methodology in efforts to
increase acceptance and decrease rework.

Quality Characteristics of Goods and Services

Functionality, how well does it work.

Appearance, how is its look, feel, design, colour, etc

Reliability, how trustworthy is it.

Recovery, how well and how quickly may defects be rectified.

Durability - the total useful life of the product or service.

Examples of Quality Characteristics
For Products
Performance
Serviceability
Reliable
Reasonable Price
Ease of Use
Maintainability
Durability
Simplicity of Design
Aesthetics
Available
Safe
Ease of Disposal
For Service
Responsiveness
Credibility
Available
Reliable
Safe
Security
Competence
Understand the Customer
Accuracy
Completeness
Timeliness
Communication

OB and its Nature

Organizational behavior-Definition &
Nature
Organizational behavior- it is made out of
two words “organization” and “behavior.”
What is an organization?
Organization as two or more individuals who
are interacting with each other within a
deliberately structured set up and working in
an interdependent way to achieve some
common objective/s. Organizations play a
major role in pur lives. We possibly cannot
think of a single moment in our lives when we
are not depending on rganizations in some
form or the other. Right from the public
transport that you use to come to your
institute, the institutes itself, the class you are
attending at this moment, are all examples of
organizations.
What is Behavior?
It is the behavior of the people working in an
organization to achieve common goals or
objectives. Organization comprises of people
with different attitudes, cultures, beliefs,
norms and values.
So let us understand organizational behavior
and what it exactly it means. “Organizational
Behavior” cam be defined as the study of what
people think, feel, and do in and around
organizations. The study of Organizational
Behavior facilitates the process of explaining,
understanding) predicting, maintaining, and
changing employee behavior in an
organizational setting. The value of
organizational behavior is that: it isolates
important aspects of the
manager’s job and offers specific perspective
on the human side of management:
• People as organizations,
• People as resources,
• People as people
In other words, it involves the understanding,
prediction and control of human behavior and
factors affecting their performance and
interaction among the organizational members.
And because organizational behavior is
concerned specifically with employment –
related situations, you should not be surprised
to find that it emphasizes behavior as related-
to concerns such as jobs, work, absenteeism,
employment turnover, productivity, human
performance and management
Nature of Organizational Behavior (OB)
Organizational behavior is an applied
behavioral science that is built on
contributions from a number of behavioral
disciplines such as psychology, sociology,
social psychology, anthropology and
economics.
Psychology
Psychology is the study of human behavior
which tries to identify the characteristics of
individuals and provides an understanding why
an individual behaves in a particular way. This
thus provides us with useful insight into areas
such as human motivation, perceptual
processes or personality characteristics.
Sociology
Sociology is the study of social behavior,
relationships among social groups and
societies, and the maintenance of social order.
The main focus of attention is on the social
system.
This helps us to appreciate the functioning of
individuals within the organization which is
essentially a socio-technical entity.
Social psychology
Social psychology is the study of human
behavior in the context of social situations.
This essentially addresses the problem of
understanding the typical behavioral patterns
to be expected from an individual when he
takes part in a group.
Anthropology
Anthropology is the science of mankind and
the study of human behavior as a whole. The
main focus of attention is on the cultural
system, beliefs, customs, ideas and values
within a group or society and the comparison
of behavior among different cultures. In the
context of today’s organizational scenario. It is
very important to appreciate the differences
that exist among people coming from different
cultural backgrounds as people are often found
to work with others from the other side of the
globe.
Economics
Any organization to survive and sustain must
be aware of the economic viability of their
effort. This applies even to the non-profit and
voluntary organizations as well.
Political Science
Although frequently overlooked, the
contributions of political scientists are
significant to the understand arrangement in
organizations. It studies individuals and groups
within specific conditions concerning the
power dynamics. Important topics under here
include structuring of conflict, allocation of
power and how people manipulate power for
individual self-interest etc.

Introduction to ORGANISATIONAL BEHAVIOR (OB)

Organisational Behavior

OB is the study and application of knowledge about the human behavior in order to obtain organisational effectiveness.

As we know that many people come together at the workplace. They come from diverse backgrounds, diverse religions, diverse regions. Different people have different values, beliefs, tastes and ideas. All these factors make up a structure that shapes the behavior of the people. OB strives to understand this structure. OB strives to understand these factors. OB strives to know what makes up a particular behavior in an individual level and how beneficial or detrimental is that behavior to the organisation. OB studies about the behavior of individuals in order to change them favourably. Hence, OB is the study of the various factors that make up the behaviour of individuals and then the application of the knowledge obtained in order to mould their behavior in such a way so as to make it beneficial to the organisational effectiveness.

OB also studies how people behave differently at their individual level and at the workplace or organisational level. OB understands all causes.

OB is a subject that consists of studies varying from Anthropology, Psychology, Industrial Relations, History, Sociology, etc. The roots of OB lie as back as the advent of Scientific Management and Human Relations Movement of 1940. Today, OB is studied at colleges and universities as a full-fledged subject and is practically applied at organisations.

Characteristics of a Contract of Guarantee

Characteristics or essentials of contract of
guarantee
Following are the characteristics or essentials
of contract of guarantee:
i. Tripartite agreement: In a contract of
guarantee, there are three parties namely:
principal creditor, creditor and surety. Under
this contract, three separate contracts are
made among them and consent of all the three
parties is necessary. The contracts connecting
each-other as contract between:
a. the principal debtor and creditor,
b. the creditor and surety, and
c. the surety and principal debtor,
ii. Liability: Under such contract the primary
liability is of the principal debtor and only
secondary liability is of the surety. As a
conditional contract, liability of the surety
arises only when the principal debtor
(primarily liable) defaults.
iii. Essentials of valid contract: It is also as
same as other general contract in respect of
essentials. All the requirements for valid
contract, i.e. free consent, consideration,
lawful object, competency of the parties etc.
are necessary to form this kind of contract.
But, in respect of consideration, no direct
consideration in the contract between the
surety and creditor. Consideration of principal
debtor is considered to be adequate for the
surety.
iv. Written form: A contract relating to
guarantee must be concluded in writing in
Nepal and England. But, the Indian legal
framework does not compel to form such
contract in written form. Both written and oral
is valid in India.

Parties to Contract of Guarantee

A Contract to perform the promise, or
discharge the liability, of a third person in
case of his default is called Contract of
Guarantee . A guarantee may be either oral
or written.
The person who gives the guarantee is called
the Surety
The person on whose default the guarantee
is given is called the Principal Debtor
The person to whom the guarantee is given
is called the Creditor

Contract of Guarantee, Meaning and Definition

A Contract of guarantee is a contract to
perform the promise, or discharge the liability,
of a third person in case of his default. The
person who gives the guarantee is called the
surety; the person in respect of whose default
the guarantee is given is called the principal
debtor, and the person to whom the guarantee
is given is called the creditor. A guarantee may
be either oral or written. [section 126]. - -
[Person giving guarantee is also called as
guarantor. However, Contract Act uses the
word surety which is same as guarantor]. - -
Three parties are involved in contract of
guarantee. Contract between any two of them
is not a contract of guarantee. It may be
contract of indemnity. Primary liability is of
the principal debtor. Liability of surety is
secondary and arises when Principal Debtor
fails to fulfill his commitments.

Channel Management

Product distribution (or place) is one of the
four elements of the marketing mix .
Distribution is the process of making a product
or service available for use or consumption by
a consumer or business user, using direct
means, or using indirect means with
intermediaries.
The other three parts of the marketing mix are
product , pricing and promotion.
Channels and intermediaries
Distribution of products takes place by means
of channels. Channels are sets of
interdependent organizations (called
intermediaries) involved in making the product
available for consumption.[1] Merchants are
intermediaries that buy and resell products.
Agents and brokers are intermediaries that act
on behalf of the producer but do not take title
to the products.
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Channel design
A firm can design any number of channels.
Channels are classified by the number of
intermediaries between producer and
consumer. [1] A level zero channel has no
intermediaries. This is typical of direct
marketing . A level one channel has a single
intermediary. This flow is typically from
manufacturer to retailer to consumer.
Types
Category
Definition
Intensive distribution
the producer's products are stocked in the
majority of outlets. [1] This strategy is
common for basic supplies, snack foods,
magazines and soft drink beverages.
Selective distribution
means that the producer relies on a few
intermediaries to carry their product. [1] This
strategy is commonly observed for more
specialised goods that are carried through
specialist dealers, for example, brands of
craft tools, or large appliances.
Exclusive distribution
means that the producer selects only very few
intermediaries. [1] Exclusive distribution is
often characterised by exclusive dealing where
the reseller carries only that producer's
products to the exclusion of all others. This
strategy is typical of luxury goods retailers
such as Gucci.
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Channel mix
In practice, many organizations use a mix of
different channels; in particular, they may
complement a direct sales-force, calling on the
larger accounts, with agents, covering the
smaller customers and prospects. In addition,
online retailing or e-commerce is leading to
disintermediation. Retailing via smartphone or
m-commerce is also a growing area.
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Managing channels
The firm's marketing department needs to
design the most suitable channels for the
firm's products, then select appropriate
channel members or intermediaries. The firm
needs to train staff of intermediaries and
motivate the intermediary to sell the firm's
products. The firm should monitor the
channel's performance over time and modify
the channel to enhance performance.
Channel motivation
To motivate intermediaries the firm can use
positive actions, such as offering higher
margins to the intermediary, special deals,
premiums and allowances for advertising or
display.[1] On the other hand, negative actions
may be necessary, such as threatening to cut
back on margin, or hold back delivery of
product.
Channel conflict
Channel conflict can arise when one
intermediary's actions prevent another
intermediary from achieving their objectives.
[1] Vertical channel conflict occurs between
the levels within a channel and horizontal
channel conflict occurs between intermediaries
at the same level within a channel.