Management

In a partnership, all the partners can take active part in the management of the firm. But in a company, every member does not participate actively in the day to day management. The company is managed by a Board of Directors consisting of elected representatives/nominees of the members. There is divorce between ownership and management of a company but there is no such divorce in a partnership.

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Democratic Management

The office bearers of a co-operative are elected by the members on the basis of 'one member one vote'. As the membership of a co-operative is generally drawn from a local area, there is continuous and effective interaction between the members and the office bearers of the society. Meetings are well attended and voting by proxy is not allowed. As such the management of the society is democratic.

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Environmental Factors

Favorable environmental conditions help to create entrepreneurs. Adequate finance, technical skills, availability of cheap land, accessibility to new markets, availability of supporting services, etc. are examples of s favorable environment.
Even when personal characteristics, life path circumstances and environmental conditions are either pushing or pulling individuals towards entrepreneurship, such individuals are unlikely to become entrepreneurs unless they perceive creation of new venture both desirable and feasible. In this process support of family members, peers, teachers, relatives and friends is very useful. In assessing feasibility, presence of successful role models, availability of advice and financial support are important.

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Respect For Space

It is important to keep in mind the 'space dynamics' during a conversation. It is essential to maintain a distance of at least 2 feet to avoid intimidating the person. The distance increase to 3 feet when dealing with acquaintances or people you meet for the first time.
Having understood the useful phrases that can help us in developing as a good conversationalist, let us learn important etiquette required to be followed by a successful corporate professional.

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What We Have To Do?

What if instead of becoming a doctor, you turn out to be an IAS officer or a general manager in one of the world class MNC's or renewed artist, or a famous actor or be your own boss by developing yourself as an entrepreneur. Will your parents not be happy? Will their aspiration of seeing their child living happy won't get fulfilled?
Of course, they will not only be happy but feel proud to have a child like you. They will not get tired of praising you before your relatives, friends, or other member of the society.
So, my objectives is to awaken you from from the fallacy and help you think about what you want to do, to find the right direction for yourself, to design your own career path.
All of us have some or the other skills, talents. hobbies, and intelligence that make us successful at the jobs that tap these talents.
Thus, the objective of this chapter is to find a focus and a direction in which you can channelize your talent and realize your true potential for professional and personal success.
Let's now begin by finding the right direction.

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Innovation

Modern business is highly dynamic and an enterprise can continue to be successful only by adapting itself to changes in its environment. A successful firm has not only to adjust itself to changing environment, it must on its own create conditions favorably to survival and growth. The highly competitive nature of modern business puts a premium on innovation and creativity which implies the introduction of new and better products, improved means of production and distribution, new technology, new methods and procedures of management, etc. To resist change is to court disaster. Profits are the result of efficient performance in marketing, innovation and productivity. Innovation results in better and cheaper products and more employment for the society. Innovation is essential for the survival and growth of business. It is through innovations that business firms perform dynamic functions of growth, diversification and change in the economy. the most progressive or excellent companies allocate large amounts of money on research and development for achieving the objective of innovation.

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To Avoid Government Intervention

In case the business fails to respond to social needs and aspirations voluntarily, the Government may force businessmen to discharge their social obligations through legislation. Legislative regulation will reduce the freedom and flexibility of business. Hence, it is in the interest of business community to voluntarily fulfill its obligations to the society.

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Real Vs. Perceived

Worker's thoughts about their workload and the time they have to complete their assigned tasks may differ greatly from what managers or other co-workers think of their workloads.
You receive a mail from a friend at 1 a.m. on Friday asking you to go for a movie tomorrow. You respond you your affirmation and wait at the cinemas for the afternoon show. No one turns up and you call your friend. He tells you that the mail was sent at 1, therefore "tomorrow" means "Saturday".
So, his reality is different from your reality and it is imperative to communicate with clarity to avoid inconvenience for both the sender and the receiver.
Reality may actually be somewhere in between, but leaders and managers should take time to survey employees in a non-forceful way and allow them to feel that their responses are valuable. Many employees feel rushed or overwhelmed at work, but a little communication, reorganization, and delegation can go a long way in changing this perception.
Perception is 90% of the battle in a work context. The reality is the exact opposite and making simple alterations can deliver real tangible benefits. One of the greatest roadblocks to clear rational thinking is faulty perception. We often make the assumption that our perception of events is the same as what is actually happening. In reality humans tens to filter out as much information as they take in. Or as one writer put it, "it is not so much that we believe what we see, but that we see what we already believe."
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Supply of Capital

Even though capital is a very mobile factor of production, the availability of adequate finance at cheap rates is an important consideration in industrial location. New and technocrat entrepreneurs who have limited funds are attracted towards the areas where they can get cheap supply of finance. In some states, state financial or industrial development corporations offer loans at low rates of interest to the entrepreneurs who set up plants in the specified areas.

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Life Path circumstances

Personal characteristics are relatively weak predictors of entrepreneurship. Circumstances seem to increase the probability that an individual will become an entrepreneur. Unsatisfactory job environment is one such circumstance. When an employee is dissatisfied with his job or supervisor, he may think of resigning and starting his own venture. This may also happen when the employee refuses to recognise the value of an innovative idea. Second life path circumstance is displacement or an disruption on family life. Partition of the country forced many persons to flee from pakistan and start their own small ventures in India. Death of the father, loss of job, death of husband, etc., are also examples of displacement. Career transitions like competing studies, being discharged from military service, etc. also help to generate entrepreneurs. Positive pull influences e.g. mentors, potential partner, investors, customers, etc. urge an individual to start business.

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Role of Board of Directions

An independent and effective board is essential  for good corporate governance. The overall responsibility of the board is to guide the management and to oversee  the operations of the company to subserve the interests of stakeholders. The operations of the company to ensure that the management complies with the legal and ethical stands. Board is also responsible for ensuring information and control system which can guide the top management in meeting the corporate objectives.

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Seeing in the now

The human being does not realize that one does not need time in one's life, because life really happens in the present moment. It is our mistaken notion, reinforced by the religions and evolutionary pundits, that we need time to evolve and evolutionary pundits, that we need time to evolve and fulfill ourselves, to change from "what~is" to 'what~should~be'.

   Time is certainly necessary in the realm of learning achieving, and to earn a living by becoming proficient in some profession. But in the wold of the psyche, we follow the old traditional pattern, and become frustrated and miserable when the hope of fulfillment is not achieved.

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Knowing Yourself

If you scored high on statement 1, 3, 8, and 14, then you are on the road to identifying your own strengths and weakness and what are the areas you need to work on.
When you know how to set your goals and how to focus on the short term and long term goals that you have for yourself, getting hired becomes much easier as compared to candidates who are not mentally prepared.

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Attraction and Attachment

Money has always had a peculiar attraction for me. As an early seeker, I used to worry about it. And then, later, I understood the basic difference between 'attraction' and 'attachment'. Attraction happens because of the programming in the body mind organism - genes and conditioning - over which the ego has no control at all. Attachment is wholly a matter of the ego and its involvement.
I have had the sneaky suspicion that my attraction for money is based on the fact that as a school student I had no 'pocket money'. There never was a shortage, but it was given only for a specific purpose. It was when I joined college that I had some money of my own - merely the monthly amount of scholarship. Although this is just speculation, the fact of the matter is that attraction in itself need not be a worry for the spiritual seeker.

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Stakeholders Level

Stakeholders in a business firm include its customers, employees, shareholders, creditors, suppliers, government, etc. At this level, the main ethical question is how should business deal with its stakeholders? For example, should it keep its shareholders informed of the true financial position? Should a company state true quality of its product in advertisements? All these questions pertain to various policy dicisions of a business enterprise.

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Managerial Revolution

Separation of ownership from control in large corporations has resulted in the professionalization of management. A professional manager is well educated and aware of the society's expectations. He tends to take a long term view of business. In order to ensure the long term welfare of the enterprise, he attempts to meet the aspirations of costumers, employees, shareholders and the Government in a balanced manner.
Thus, the growing emphasis on social responsibilities is the outcome of compelling, persuasive and facilitating forces. Continuous attack on big business, increasing interference by the Government, labour movement, consumers' consciousness and the activities of social reforms have forced business firms to take into consideration the impact of their operations on society. Rise of a class of professional managers, trust ship principle, public relations movement and enlightened attitude have reinforced the tendency towards social responsibilities. In the long run, behaving responsibly towards society is not a choice but a requisite for success in business.

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National Objectives

Present day business is expected to serve as an instrument for the fulfilment of national needs and aspiration and implement of national plans and policies in accordance with the accepted priorities. Keeping in view the overall national objectives of establishing a democratic, secular and socialist society and fostering growth, stability and social justice, business in India has to serve the national objective.

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Security And Permanancy

From the time a baby is born and seeks its mother's breast intuitively, seeking becomes the very essence of living. The human being is always seeking: seeking a purpose of life, a goal for living, seeking satisfaction, pleasure, safety, security.
There is an all pervading feeling that one is missing something. One almost feels as if one is being cheated of something that is one's birthright. So we try to fill that void in ourselves, that incompleteness, that emptiness, that loneliness with various ideas and concepts, ultimately resorting to seeking a permanency that we give various labels, including 'God'.
We are seeking endlessly and we do not know precisely what it is that we are seeking. we want a replacement for our parents to protect us. We are overwhelmed by the insecurity of life. However, the basic question is: security and permanency for whom? For the 'me'? For self knowledge to into being, the only solution is to be found in the understanding of the 'me'.

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Essence Of Meditation

Meditation is not traversing along a path leading to an imagined bliss of some sort. Meditation actually happens when the mind watches the flow of life, seeing and listening without opinion, without any judgement, wholly attentive to the movement of life in all relationships. this could happen throughout the day, not necessarily when you sit on a particular posture trying to stop and external, such as controlling the breath, reciting a mantra or counting the beads of a rosary. The essence of meditation is watching the movement of life in relationships without judgement.

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Still Mind

Where the mind is concerned, the all-important point is whether it is still or occupied. It is only in a still mind, that one's real nature can be discovered. What the mind is occupied with is of no real significance.
We are conditioned to regards as a holy and extraordinary man, one who prays all day, does innocuous work such as gardening  for a living, whose mind is wholly occupied with God, self-dicipline, self-control, sin, and guilt. On the other hand, we consider as an ordinary man not worth bothering about, the one who is busy all day working in the office and is always concerned with making money.
    With this conditioning we do not realize the value of being still. This does not mean doing no       action. One can be in meditation and yet not have a still mind. One can be engaged in one's job, paying attention to the work that is being done, and yet have a still mind.

   A still mind is the one in which conceptualizing is not happening in horizontal time, irrespective of whatever the body-mind organism man may be doing in the moment.

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Business As A System

A business enterprise in an important system which is created to satisfy human wants through the production and distribution of goods and services. Like any other system, it gets the inputs from its environment and supplies its output to the environment. The inputs of a business system include materials, machinery or equipment, manpower, money, information, etc. These human, physical and financial resources are converted into goods and services which constitute the output of the business system. In addition goods and services, business system also provides profits, employment, tax revenue, etc. The business system operates under the influence or environment consisting of economic, social, political, legal, cultural and other factors. Business system gets feedback or information from the environment or suprasystem. The feedback influences the future operation of the system. The supply of inputs to business system is reduced or increased depending upon the satisfaction provided by the outputs of business. Thus, "the business system is a combination of all resources, organisations and institutions which are directly or indirectly related to the production of good and services for the satisfaction of human needs". It is a total entity comprising innumerable interlocking sub-systems.

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