Skip to main content

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...

The concept of financial management. The important characteristics of financial management.


Financial management is the most important branch of business administration. One cannot think of any business activity in isolation from its financial implications. Acceptance and rejection of any business position depends on the basis of its financial viabilities. So we can say that finance is considered the life blood of a business enterprise. business finance is a broader term then corporation finance because the later deals with the financial problems of corporate enterprise whereas the former is considered with the financial problems of proprietorship, partnership companies and other types of business enterprises. 

Characteristics of financial management:

The importance of financial management is described below:

(a) It is the most important and excellent tool by which funds are raised from various sources for onward allocation on various projects.

(b) It provides desigining and implementation of plans for effective utilization of funds so raised.

(c) It makes decision on financial matters and review their executions.

(d) It implies more comprehensive concepts besides profit making on efficiency with broader mission to maximise the value of the firm so that the interest of the different sections of the society remain undisturbed and protected.

(e) It is applicable to all types of organisations irrespective of their size, nature whether it is a manufacturing or service organisation.

(f) It does not merely handle day to day routine matters but takes care of more complex problems pertaining to mergers and reorganisations and play two distinct roles such as safeguarding interests of the corporation and secondly watching the interests of the oweners and other sections of the community. In this respect it is a rope-walking exercise an interested gimmick.

(g) Its working has been divided three main areas such as:
(i) Decisions on the capital structure 
(ii) Allocation of available funds to specific uses
(iii)  Analysis and appraisal of problems

(h) A financial manager is usually located at a high level in an organisation, and is one of those who advise the president and board of directors under authority and policies are formulated and financial decisions are made. The chief financial officer acrries the title of vice president, serves as chairman of the finance committee and reports directly to the president and board of directors. 

(i) A financial manager anticipates (forecasts) financial needs and acquires financial resources keeping in view such need of an organisation.

(j) A financial manager makes a wise choice between profitability and liquidity inspite of the fact that both are essential and desirable. profitability means making profit by investing money/ capital so raised (liquidity) 

 

 

Comments

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 ...

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.

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...