CS - Business Management, Ethics and Communication (...

The word 'management' has its origin in the Greek word ‘nomos’, which means ‘management’.

Since coordination is all pervasive and permeates through every function of management, it is considered as the overall function or the essence of management.

Administration is a part of controlling.

Under differential piece rates of wage payment, workers attaining or exceeding the standard draw their pay at a higher rate and those falling short of the standard are compensated at a lower wage rate. This system was devised by Frederick Taylor.

Informal organisation refers to an organisation where relationship between people is not based on procedures, but on personal attitudes, prejudices, likes and dislikes. There always exists an informal organisation in a formal organisation and every management has to recognise this fact.

Accountability denotes answerability for the accomplishment of the task assigned by a superior to his/her subordinate.

Line type of structure is the oldest pattern of organisation. In this form of organisation, a supervisor exercises direct supervision over a subordinate. Under the organisation, authority flows from the person at the top to the person at the lowest ring of the organisation.

Procedures, rules and policies, once established, are difficult to change. Planning, on the other hand, may call for a change in the existing procedures and policies.

Henry Fayol defined authority as “the right to give orders and exact obedience” and viewed this as an official authority.

Decentralisation should not be confused with delegation of authority. Decentralisation is basically concerned with attitude and philosophy of the organisation and management. It is not merely a process involving the handing over a part of the authority to the subordinates. Delegation is a process and decentralisation is the situation produced by a larger delegation of authority down the levels of an organisation.

Performance appraisal means systematic evaluation of the personality and performance of each employee by his supervisor or some other person trained in the techniques of merit rating.

Dale S. Beach observed, “Recruitment is the development and maintenance of adequate manpower resources. It involves the creation of a pool of available labour upon whom the organisation can draw when it needs additional employees.”

Human Resource Management is that part of the process of management specifically concerned with the people employed in an organisation. Its purpose is to establish and maintain sound relations at all levels of the organisation and to secure the effective use of personnel by ensuring such conditions of employment as well as to attain for these personnel social satisfaction, which they tend to naturally seek within their working environment.

An activity is probably ethical if it is legal.

Any informal communication about company and personal matters outside the official network constitutes grapevine. Thus, grapevine consists of a complex network of informal communication taking place all day long in the workplace.

In vertical coordination, a superior authority coordinates his/her work with that of his/her subordinates and vice versa. Sales manager coordinates his/her work with the activities of the sales supervisor. Similarly, the sales supervisor is required to have coordination and a cordial relationship with his/her superiors.

Feedback is the process of adjusting future actions based upon the information about past performance. It is based upon interdependence of different parts of a system.

An efficient system of control encourages top management to go in for decentralisation of authority. With controls, managers can foster decision-making at lower levels without losing ultimate control.

Directing is an important function of management which involves communicating with and providing leadership to the subordinates and motivating them to contribute their best for the achievement of organisational objectives.

Investors are concerned only about the profitability of the company in which they invest.

Total Quality Management (TQM) is an approach that organisations use to improve their internal processes and increase customer satisfaction. When properly implemented, it can lead to decreased costs related to corrective or preventative maintenance, better overall performance, and an increased number of satisfied and loyal customers.

Marketing ethics is the area of applied ethics which deals with the moral principles behind the operation and regulation of marketing. The ethical issues confronted in this area include:

1. Pricing: Price fixing, price discrimination, price skimming
2. Anti-competitive practices like manipulation of supply, exclusive dealing arrangements, tying arrangements, etc.

Anti-competitive practices include manipulation of supply, exclusive dealing arrangements, tying arrangements, etc.

Ratio analysis is the relation between various elements of financial statements expressed in mathematical terms. It helps to understand profitability, liquidity and solvency of a firm.

The ethics of Human Resource Management (HRM) cover those ethical issues arising around the employer-employee relationship, such as the rights and duties owed between the employer and the employee.

Spending money on restoring the environment, affected out of products of inherently dangerous nature is known as business ethics. Business ethics may be defined as a set of moral rules and principles to protect the interests of customers, employers, society, business unit itself and the industry as a whole.

Whistleblowing is the process where a person informs about misdoings or makes a public disclosure of corruption or wrongdoing. Hence, the action of Mohan would be termed as whistleblowing.

Gestures can be used for non-verbal communication and written communication is a means of verbal communication. Hence, gestures cannot be used for written communication.

Mackenzie defines ethics as “the study of what is right or good in human conduct” or the “science of the ideal involved in human life”. So, it is clear that ethics is the study which determines rightness or wrongness of actions.

Mission serves to inform employees of the vision that the company's executives have for the company's image and goals.

Dilemma is a situation requiring a choice between equally undesirable alternatives or any difficult or perplexing situation or problem.
Veteran is a person who has had long service or experience in a particular occupation or field.
Trivial means 'of little significance or value'. 
Cognition means the mental action or process of acquiring knowledge and understanding through thought, experience and senses.

To play second fiddle means to take a subordinate part.

 Seven C's of effective communication are:

1. Clarity of expression
2. Completeness of information
3. Conciseness of message
4. Concreteness in presentation
5. Courtesy towards recipient
6. Correctness of facts
7. Consideration for the receiver 

The flow of communication in an organisation depends on its size, structure and philosophy. The flow or pattern of communication may be downward, upward, diagonal or horizontal.

Infallible means incapable of making mistakes.

Organisations publish tender notices when they have to procure goods and services on a large scale to get projects executed. Tender notices may be defined as invitations to submit “bids to provide such goods/services at quoted prices and subject to stated conditions”.

A company begins its operations by opening a current account. The company operates the account through one or more authorised signatories who may even be changed by the Board of Directors.

Representations are made in order to voice a grievance and to secure a relief.

Public notice is given by an organisation when it needs to share important information with the members of general public, such as a change of name or representative and invitation, which are generally sent when the occasion is very formal.

A Proforma Invoice is different insofar as it is for the sake of form only. It is neither entered into books nor charged to the account of the recipients. It may be used for several purposes including: as a quotation, to enable calculation of taxes and duties payable, etc.

Memos are used commonly for issuing instructions to the staff, changes in the policy inviting suggestions, giving information, making requests, etc. A memo is different from a letter, both in format and in its effect on the addressee. It is important to note that a memo does not have a salutation and complimentary close. But the subject is clearly written and underlined.

Memorandum at best means a note or record for future use. Memorandums are preferred when one needs to convey information in writing.

One of the essentials of a good press release is it should be brief and not lengthy. The Chiefs of Bureaus are known to strike out large parts of press releases received by them daily. One cannot blame them because they are parting with precious space and time. Therefore, the chances of including a press release increases if we keep it brief.

Unsolicited or Junk mails can be filtered by using the ‘spam’ option, which forbids unwanted e-mails from entering the inbox. 

From the beginning - ab initio
From the origin - ab origin 

An apostrophe (’) is used to denote possession and other kinds of relationships.

'The' is called a definite article because it normally points out some particular person or thing. For example, he saw the doctor, meaning some particular doctor.

Credit Note is a document sent by a seller to a buyer to rectify an error of overcharge in an invoice or to allow credit for goods returned.

1. A snake was killed by me.
2. You are requested to come daily.
3. Mahesh is the most intelligent student of the class.

Active Voice - Shah Jahan built Taj Mahal.
Passive Voice - Taj Mahal was built by Shah Jahan.