Definition: Business is a regular process of earning a profit by satisfying consumer's needs through the manufacturing of goods, reselling of products, providing services or carrying out all three together. It is an occupation which requires a particular set of skills and expertise to derive maximum profit out of it. Following activities cannot be considered as a … [Read more...] about Business
Kiosk Banking
Definition: Kiosk banking was introduced by the Reserve Bank of India(RBI) to facilitate primary banking services to the poor and low-income group localities at a reasonable cost without the need for visiting the bank. KIOSK is 'Kommunikasjon Integrert Offentlig Service Kontor'. It is an initiative to benefit the poor section of the society who usually are daily wage … [Read more...] about Kiosk Banking
Sources of Recruitment
Definition: Sources of Recruitment can be viewed as various means of connecting the job seekers to the organisation which have suitable job openings. In simple words, it serves as a medium for communicating or advertising the vacant positions in the organisation to get a response from the prospective candidates. The recruiters have to be very careful while selecting any … [Read more...] about Sources of Recruitment
Recruitment
Definition: Recruitment is the process of examining a vacant position in the organisation and attracting the potential candidates to apply for the same, within an appropriate time and at a desirable cost. It is the introductory stage where a job applicant gets to know about the vacancy, and the organisation identifies the candidate's profile. Without recruitment, companies … [Read more...] about Recruitment
Human Resource Management (HRM)
Definition: Human resource management (HRM) is a tactical approach which deals with acquisition, training and development, orientation, motivation and retention of personnel in an organisation. It is a powerful tool for any organisation to succeed. It is a continuous and never-ending process. A human resource refers to the human capital available with the organisation in the … [Read more...] about Human Resource Management (HRM)
Employee Empowerment
Definition: Employee empowerment is the process of facilitating employees with specific authority and responsibility to achieve the organisational vision by exercising their talent, skills and creativity. It was initially being related to forming of trade unions, but it is much more than that. It enables the managers to convert the regular workforce into a high potential … [Read more...] about Employee Empowerment
Employees’ Provident Fund (EPF)
Definition: Employees' Provident Fund (EPF) commonly known as PF, is the scheme initiated by the government with the motive of providing post-retirement financial aid to the salaried employees. It applies to most of the companies belonging to the organised sector. In this scheme, the employer needs to register with the Employees' Provident Fund Organisation (EPFO) which is … [Read more...] about Employees’ Provident Fund (EPF)
Long-Term Investing
Definition: Long-term investing refers to the acquisition and holding of the assets for at least three years or more to generate wealth in the future. Long-term investing needs patience, strategy, foresightedness and commitment. It maximises the possibility of higher returns and minimises the risk and uncertainties. There are various options for long-term investing, like … [Read more...] about Long-Term Investing
Public Provident Fund (PPF)
Definition: A Public Provident Fund (PPF) Scheme is one of the Indian government saving schemes which aims at regulating the small savings of the individuals to convert such savings into investments yielding returns with tax-saving benefits. It is considered to be one of the safest investments. The Public Provident Fund scheme was initiated in India in the year 1968 by the … [Read more...] about Public Provident Fund (PPF)
Investment Portfolio Manager
Definition: An investment portfolio manager is the one who is responsible for generating the highest possible value out of the client's fund keeping in mind the objective of investment, preferred period, risk-taking capacity and expected returns. The client could be anyone; an individual, families, banks, companies, insurance agencies, etc. Investment portfolio managers are … [Read more...] about Investment Portfolio Manager