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Showing posts from April, 2021

The general safety measures taken during civil engineering construction.

The following safety measures are taken during civil engineering construction. (i) Suitable scaffolds should be provided for workmen. (ii) When ladder are used, it should be provided with foot holds and hand holds and inclination of one is to four (1 horizontal : 4 vertical) be provided. (iii) The scaffolding should be properly supported and shall have a guard rail property attached to it. (iv) Every opening in floor of a building should be provided with suitable means to prevent the fall of persons or materials. (v) Fencing and lights shall be provided to protect the public from accident. (vi) The excavated material shall not be placed within 1.5m of the edge of the trench or half the depth whichever is more to avoid collapse of sides due to surcharge. (vii) No undermining or undercutting shall be allowed. (viii) All roads and open areas adjacent to any side where demolition is to be carried out, must be closed or suitably protected. (ix) No electrical cable etc. shall remain electric
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Importance of Management Information System for an Organization.

MIS can be defined as the combination of human and computer based resources that results in the collection, storage, retrieval, communication and use of data for effective management of operations and for business planning. Before the evolution of computers, MIS techniques existed to supply users with information that would permit them to arrive at an effective decision. The computer has added new dimensions such as speed, accuracy and processing of massive data, that permit the consideration of more alternatives in a decision. Other importance of MIS are given below: (1) Getting information to the decision maker in the proper form at the right time at a justifiable cost. (2) Time saving to middle, top or even lower level scalar chain. (3) MIS's major thrust is to reduce cost. (4) MIS avoid duplication and overlapping in data gathering, storage and dissemination. (5) It is directed towards oriental management. REQUIREMENT OF AN EFFECTIVE MIS: 1. HARDWARE: Physical computer system
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Data Vs Information. Various steps for converting data into information.

  Data and information are are two separate things. Data are facts and not currently being used in a decision process and generally take the form of records and files, whereas, information consists of data that have been retrieved, processed and used for inference purposed or as a base for forecasting or decision making. Data are converted into meaningful information in following steps: (i) Recording/ capturing of data from source. (ii) Checking and verification of data to ensure that it was captured and recorded correctly. (iii) Data are placed into specific categories. (iv) Arranging data into specified sequence. (v) Combining or aggregating data elements. (vi) Arithmetic and/or logical manipulation of data. (vii) Placing data to some storage media where it can be kept for access and retrieval. (viii) Retrieving to specific data elements. (ix) Reproducing data from one medium to another. (x) Communicating or transferring data from one place to another. 
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Laws of variable proportion or the law of diminishing return.

  LAW OF DIMINISHING RETURN: ASSUMPTION: This is the most fundamental law of economics based on the actual experience of farmers. A Scottish famer is said to have been first to state this law. This has been explained by Marshall in following words: "An increase in the capital and labour applied in the cultivation of land causes in general a less than proportionate increase in the amount of produce raised unless it happens to coincide with improvement in the art of agriculture."  The law is generally applied in the field of agriculture. This law states that every increase in the doses of capital labour and other inputs lead to increase in total output and this increase is less than proportionate increase compared to inputs. The law of diminishing returns operate on account of the following assumptions. (i) There is fixed factors of production and the variable factors alongwith fixed factor or production do not receive full attention and co-operation. As a result of this the pr
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Concept of managerial economics stating the important characteristics and major applications.

Managerial economics is the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management.  Characteristics of managerial economics:  1. It is concerned with decision making of economic nature. 2. it deals with identification of economic choices and allocation of resources. 3. it provides a link between traditional economics and the decision sciences for managerial decision making. Applications: 1. Managerial economics links the accounting concepts with economic concepts. So that financial data pertaining to profits and costs can be used more effectively to suit the needs of decision making and forward planning. 2. For the purpose of forecasting, estimate economic relationship between variables such as price, demand, income, production etc. 3. To establish business plans for the future regarding profit, prices, costs, capitals etc.   
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Why do financial managers use a variety of measures of profits for firms?

Financial statements can provide valuable insights into a firm's performance, if properly analyzed and interpreted. Analysis of financial statements is of interest to lenders, investors, security analysis, managers and others. Financial statement analysis may be done for a variety of purposes, which may range from a simple analysis of the short term liquidity position of the firm to a comprehensive assessment of the strengths and weaknesses of the firm in various areas. It is helpful in assessing corporate excellence, judging credit worthiness, fore-casting bond ratings, and assessing market risks.   
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Current Ratio & Acid Test Ratio

CURRENT RATIO: It is the ration between current assets to the current liabilities. Current Ratio = (Current Assets) / (Current Liabilities) Currents assets includes cash, marketable securities, debtors etc., current liabilities consists of loans and advances, trade creditors. ACID TEST RATIO: Also called the quick ratio, the acid test ratio is defined as: (Quick Assets) / (Current liabilities) Quick assets are defined as current assets excluding inventories. The acid test ratio is a fairly stringent measure of current ratio.  
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Funds, Working Capital, Net Working Capital & Income

  Funds are defined as total resources. Industrial enterprises has land, buildings, machinery, tools etc. This type of assets are called fixed capital. An enterprise needs funds to cover its cost of operating. Moreover there is a need of money to carry the enterprise during the time lag between the sale of its products and the payment for them. Funds are needed to cover these costs is commonly called as working capital. Net working capital is simply the difference between current assets and current liabilities. Income from business is found by deducting the outgoings from gross incomings.
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Popular posts from this blog

HOW TO DEVELOP A NEW PRODUCT.

STEPS TO SUCCESSFULLY DEVELOP A NEW PRODUCT: Various phases for successfully developing the product are: 1. PLANNING: It is also known as zero phase since it precedes the project approval and launch of the actual product development process. this phase begins with corporate strategy and includes assessment of technological developments and market objectives. the output of this phase is project mission statement, which specifies the target market for the product, business goals, key assumptions and constraints.  2. CONCEPT DEVELOPMENT: In this phase of concept, the needs of market are identified, alternative product concept are generated and evaluated and a single concept is selected for further development.  3. SYSTEM-LEVEL DESIGN: The system-level design phase includes the definition of the product architecture and the division of the product into sub-systems and components. The final assembly scheme for the production system is usually defined during this phase as well. The output of
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Four C's Model for Evaluate an Organization's Human Resource Management Program

Explain how the four C's Model can be used to evaluate an organization's human resource management program?   Four C's of Human resource management program given by Harvard Business School: 1. COMMITMENT: Every worker should be committed to his work sincerely in order to give best performance.  2. CONGRUANCE: The worker must work in harmony with his colleagues and management both achieve his targets. 3. COMPETENCE: For professional employees to develop competencies and inter-personal skills. Such as coaching, group process and problem solving are the important tasks for HRD programs. Competency in performing the job as needed to grow organizations in a global environment.   4. COST EFFECTIVENESS: The salary or any other benefits provided to employee by management depends upon his cost effectiveness to the otganisations. So employee must look for his cost effectiveness in an organisation.
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SWOT analysis and its importance in setting of objectives and planning of strategies in an organisation.

 SWOT Analysis: S stands for strength, W stands for weakness, O for opportunities, T stands for threats. It has been common to suggest that companies identify their strengths and weaknesses, as well as the opportunities and threats in the external environment. The SWOT analysis are based on the analysis of the external environment (threat and opportunities) and the internal environment (weakness and strengths). (i) The WT strategy aims to minimize both weakness or threats and may be called the minimum strategy. It may require that the company, for example, from a joint venture, retrench or even liquidate. (ii) The WO strategy attempts to minimise the weakness and maximize the opportunities. Thus, a firm with certain weakness, in some areas may either develop those areas within the enterprise or acquire the needed competencies from the outside, making it possible to take advantages of opportunities in the external environment. (iii) The ST strategy is based on the organisation's str
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