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Showing posts from August, 2021

Remove 'Powered by Blogger' - Attribution Widget In this article, I will be demonstrating how to remove the ‘Powered by Blogger attribution widget in the footer of Blogspot blogs. Before going to the process, backup your blogger template , while editing HTML code if anything goes wrong or the template modified design doesn't work or looks good you can restore it from a backed-up template. Here I have demonstrated to you two methods for removing the attribution widget. Some blogger templates may not support method 1 then you need to follow method 2 for successfully removing the attribution widget. Method 1: Removing ‘Powered by Blogger’ by unlocking the Attribution widget Step 1 : Go to your blog "Template" | click on "Edit HTML".

Factors Affecting Foreign Exchange Rate

There are various factors that affect the demand and supply of the currencies thus affecting the exchange rate in the foreign exchange market. Few key factors are explained below: Inflation: As inflation rises, in one country (India), the domestic goods become expensive in comparison to another (USD). This leads to more imports and a fall in exports. This will reduce demand for INR and increase the supply of INR. Similarly, demand for USD will increase and its supply will decrease. The overall impact will be depreciated of Indian Rupee. Interest Rate: When the interest rate in one country (India) rises in comparison to another (USA), then all the individuals and firms will invest in the country where the interest rates are high. This will lead to the sale of USD and the purchase of INR. Thus, the demand for USD will fall and that of INR will rise. Similarly, Indians will invest in INR and not USD. Thus, the supply of INR will fall and supply for USD will increase. The net effect will

Working Capital Management

Working capital management takes the decision to invest in short-term assets. Current assets of the firm comprise cash, receivables and inventory. Working capital management decides how much money should be invested in each of these assets. This decision is crucial as it affects the liquidity and the profitability of the firm. If the company invests its entire fund in the current asset, then, it will not be able to invest in the risky and long-term assets. This will result in lesser profits but the liquidity will be high. On the other hand, if the firms do not invest in the short term, then there will be a risk of short-term insolvency, but profitability will be high. Gross working capital is known as the current assets of the firm. Net working capital is the difference between current assets and current liabilities. Approaches to Working Capital: It deals with determining what proportion of working capital should be financed by long-term sources and how many by short-term sources. Hed

Marginal Costing

The term 'marginal cost' is defined as "the amount at any given volume of output, by which aggregate costs are changed if the volume of output is increased or decreased by one unit. It is a variable cost of one unit of product or service, i.e. a cost, wh8ich would be avoided is that unit was not produced or provided". According to CIMA terminology, " Marginal costing is the ascertainment of marginal costs of the effect on profit changes in volume or type of output by differentiating between fixed costs and variable costs." It is a technique of decision making, which involves the ascertainment of total costs. classification of costs into one fixed and variable. use of such information for analysis and decision-making.. Marginal costing is mainly concerned with providing information to management to assist in decision-making and to exercise control. Marginal costing is also known as 'variable costing' or 'out of pocket costing'. Important Fact

International Business: Objectives, Advantages and Disadvanatges

International business refers to business activities or transactions carried out beyond the national borders of a country. It is a much wider term comprising of all the commercial transactions taking place between two countries. International business can occur between different nodes, which can be exporting, licensing, contract, manufacturing, foreign assembly, foreign production, joint venturing and others. For a study of international business or trade, it is necessary to understand the nature and extent of economic interdependence among countries. Countries depend on each other for a variety of economic transactions i.e. transactions is good, service and capital. Being a part of the world economy, no country live in economic isolation or afford to keep out of the global economy. Countries are highly interdependent for their economic growth. Objectives of International Business: Profit Advantage: International business could be more profitable than domestic. There is a number of ca

Leveraged Buyout

Leveraged Buyout (LBO) is the acquisition of a company where the acquisition is substantially financed by loans and debt. When the management of a company buys their company from their owners, it is called Management Buyout (MBO). The purchase price has 70-90% of debt proportion and generally has a low credit rating. LBOs are popular in countries like the USA, UK. The sellers obtain debt on the basis of the company's future growth potentiate. The key objective of LBS is to enhance wealth swiftly in a very short period of time. The acquirer will go public after few years and earn capital gains. Targets for LBO: The companies decide on characteristics that must be possessed by the acquired firms. Following are general targets for LBOs Low operating risk: Companies that have a low business or operating risk are attractive for LBOs. High Debt Capacity: Firms that have high debt capacity and high liquidity are preferred as there is less chance of insolvency. High Profits: A firm tha

Zero Based Budgeting

Zero Based Budgeting (ZGB) is a budgeting method in which all expenditures for each new period must be justified. The ZBB method begins with zero bases, where all functions and within an organisation are examined for their demands and service costs. Everything is started from scratch where the planning and budgeting is done afresh without any base. Budgets are then based upon what is required for the next year, whether another budget is higher or lower than that of the preceding year. The zero-based budgeting concept was advocated in 1924 by British budget authority Edward Hilton Young. In India, the principle of ZBB was initiated in the department of science and technology in 1983. In 1986, the Indian Government adopted the ZBB technique for determining expenditure budget. Benefits of Zero-based budgeting: Unbiased: The bias from previous information or details eliminated. Higher motivation: ZBB seeks employees to work more cohesively and closely together during the budget process.

Green Human Resource Management

Green HR is the use of strategies to endorse the sustainable use of resources within organisations and supports the cause of environmental sustainability. The HR function will become a driver of environmental sustainability inside the institute by arranging its policies and practices in a line with sustainability aims reflecting a focus on the environment. HRM policies can be used to motivate the employees about sustainable use of assets and resources within the organisation and produce green culture through charting strategies and rules to increase employee's consciousness and commitment towards the environment. It spreads and reinforces sustainable business activities that boost the morale of the workers by working in an environment-friendly manner. Green HRM practices are visible from recruitment to exit. HR strategy must reflect and inspire the ambitions of the HR team and other employees and aligning with the strategy of the business culture and values so that it delivers sust

Classification of Plant Kingdom - Cryptogamae & Bryophyta

Depending upon the presence or absence of flowers and seeds entire plant kingdom is divided into two types. They are Cryptogamae and Phanerogamae. 1. Cryptogamae: Cryptogams include all non-flowering plants such as algae, fungi, lichens, mosses and fern (Kryptos: concealed; gamus: marriage). Cryptogamae is further subdivided into three parts: Thallophyta, Bryophyta and Pteridophyta. 1.1 Thallophyta: Both Algae and Fungi are considered in Thallophyta, but nutrition in autotropic in algae, whereas fungi exhibit heterotropic nutrition. Algae usually sustain itself in a variety of habitats such as wetland as well as on other plants and even animals. Some grow in marine water and are called seaweeds. A variety of pigments in algae provide different colours. The green algae have mainly chlorophyll-a and chlorophyll-b along with carotenoids as photosynthetic pigments. Algae reproduce vegetatively by fragmentation, budding or tuber formation. Based on pigment colour, n

Collective Bargaining: Features and Advanatges

 Collective bargaining is a process of negotiations between employers and a group of employees aimed at reaching agreements in respect of the terms and conditions of employment of employees, such as wages, hours of work, working conditions and grievance procedures and about the rights and responsibilities of trade unions. The interests of the employees are commonly presented by representatives of a trade unions to which the employees belong. The collective agreements reached by these negotiations usually set out wage scales, working hours, training, health and safety, overtime, grievance mechanisms and rights to participate in workplace or company affairs. Collective bargaining is an opportunity for an individual, as a company employee to actively play a role in making positive changes to protect and improve his wages, benefits and working conditions and one of their most important rights as an employee. Features of Collective Bargaining: It is not equivalent to collective agreements b

Human Resource Development

HRD is a positive humanistic concept in human resource management based on the belief that an investment in human beings is necessary and will invariably bring in substantial benefits to the organisation in the long run. HRD seeks to show people as assets on the credit side of balance sheets. Objectives of HRD: People can do better if they get a chance to grow. Thus, it focuses on involving them and trusting them. Focus on the strengths of people and help them overcome their weaknesses. Integrate the needs and aspirations of individuals into the strategic goals and the mission of an organisation for better results. Encourage individual initiative and response by providing fostering culture. Process of HRD: HRD is a process by which the employees of an organisation are helped in a continuous and planned way to acquire sharpened capabilities required to perform various functions associated with their present or expected future roles. develop their general capabilities as individuals and

Competency: Introduction and Types

 Competency is a person's capacity that leads to the behaviour that merges with the job requirement, which is in behaviour that merges with the job requirement, which is in tandem with the organisation's parameters and gives desired results. Competency is that something you need to be able to do well in a specific job role. Competence in the area of work that the employees perform effectively. Competencies refer to the characteristics required to perform the given job role, activity or task. The competency of an individual is identified with knowledge, skills and abilities and attitudes (KSA). It is also inclusive of operational excellence aptitude, strategic thinking and personal sustainability. According to Mansfield (1997), "undertaking characteristics of a person results in effective a superior performance." According to Rankin , "competencies are the definition of skills and behaviours that organisations expect their staff to practice in work." Types o

Talent Management: Functions and Process

Talent management can be defined as the goal-oriented and integrated process of planning, recruitment, development, management and compensation process. Here the notion is not limited to recruitment, but also exploration, development and smooth transition according to the organisation's culture. It is a continuous process involving the procurement, recruitment, development, retention and promotion of workers while concurrently meeting the organisation's requirements. Talent management, as the title suggests, manages the skills and power of an organisation's employees. It relates to the estimation of the human resource required by the organisation at the time. It then establishes a plan to achieve these business needs. According to McKinsey , "Talent is the sum of person's abilities, his or her intrinsic gifts, skills, knowledge, experience, intelligence, judgement, attitude, character, drive, his or her ability to learn and grow." Functions of Talent Managemen

Career Planning

career planning is a lifelong process, which includes choosing an occupation, getting a job, growing in our job, possibly changing careers and eventually retiring. This may happen once in our lifetimes, but it is more likely to happen several times as we first define and then redefine ourselves and our career goals. Career planning is a conscious, deliberate process through which a person becomes aware of his individual skills, knowledge, interests, motivations and other attributes; acquires information, opportunities, options, recognises and identifies career-related goals and builds action plans to attain these goals. Steps in Career Planning: The first key step in career planning is to collect information about yourself to help make a career decision. This includes learning about the development needs, skills aptitudes, values, your realities, preferred environments, roles and interest. The second step in career planning is to explore your choices and investigate them. Your self-ass

Competency Mapping

 Competency mapping is the procedure of identifying the competencies that are desired to perform work to effectively attain a desired set of goals of the firm. It comprises of breaking a given work into smaller activities and distinguishing competencies like skills, attitudes, managerial, behavioural, conceptual technical, knowledge etc are necessary for performing the same effectively. A competency map includes all the behavioural models, skills, tasks and various competencies along with expertise required for performing a particular job. It emphasises factors that the company has highlighted as 'crucial or crucial' for realising the strategic goals. It is a systematic process of identifying and distinguishing KSAs and behaviour essential for acquiring goals and sustaining necessary results. It is a process through which an individual can decide and assess its strength and weakness as a single person. It is required for appraisals, recruitment, selection, training and developm