Ask questions which are clear, concise and easy to understand.
Ask QuestionPosted by Bhavika Ahuja 4 years, 8 months ago
- 2 answers
Prisha B 4 years, 8 months ago
Posted by Prerna Sharma 4 years, 8 months ago
- 3 answers
Raj Verma 4 years, 8 months ago
Yogita Ingle 4 years, 8 months ago
Communication through the scalar chain may involve delays when two subordinates or employees at the same level want to exchange ’ information. Thus, Fayol suggested the concept of ‘Gang Plank’ to avoid delays and allow direct communication between two subordinates at the same level. Gang Plank is useful as it helps in making direct contact in case of emergency. This idea of Fayol shows that his principles are flexible and can be modified as per the situation.
In the figure shown, F and G can directly communicate in case of urgency, as per the concept of Gang Plank, without following the formal lines of communication.
Posted by Prerna Sharma 4 years, 8 months ago
- 2 answers
Khushi Varshney 4 years, 8 months ago
Yogita Ingle 4 years, 8 months ago
Anything which can be used as money or equivalent to money is called near money. Since bills of exchange can be used in the exchange of goods and services and can be converted into money at any point of time, they are an example of near money.
Posted by Srishti Jain 4 years, 8 months ago
- 2 answers
Prisha B 4 years, 8 months ago
Posted by Abhinav Bhaskar 4 years, 8 months ago
- 2 answers
Khushi Varshney 4 years, 8 months ago
Prerna Sharma 4 years, 8 months ago
Posted by Khushi Varshney 4 years, 8 months ago
- 1 answers
Posted by Khushi Varshney 4 years, 8 months ago
- 5 answers
Khushi Varshney 4 years, 8 months ago
Himanshi Kumari 4 years, 8 months ago
Posted by Piyush Sharma 4 years, 8 months ago
- 2 answers
Prerna Sharma 4 years, 8 months ago
Posted by Prerna Sharma 4 years, 8 months ago
- 2 answers
Srishti Jain 4 years, 8 months ago
Posted by Prerna Sharma 4 years, 8 months ago
- 2 answers
Posted by Prerna Sharma 4 years, 8 months ago
- 4 answers
Posted by Prerna Sharma 4 years, 8 months ago
- 1 answers
Vipin Nagar 4 years, 8 months ago
Posted by Firdish Balaggan 4 years, 8 months ago
- 2 answers
Posted by Srishti Jain 4 years, 8 months ago
- 4 answers
Srishti Jain 4 years, 8 months ago
Posted by Prerna Sharma 4 years, 8 months ago
- 5 answers
Khushi Varshney 4 years, 8 months ago
Posted by Simran Sharma 4 years, 8 months ago
- 3 answers
Simran Sharma 4 years, 8 months ago
Posted by Khushi Varshney 4 years, 8 months ago
- 1 answers
Khushi Varshney 4 years, 8 months ago
Posted by Firdish Balaggan 4 years, 8 months ago
- 3 answers
Khushi Varshney 4 years, 8 months ago
Prerna Sharma 4 years, 8 months ago
Prerna Sharma 4 years, 8 months ago
Posted by Sanjana Venkatesan 4 years, 8 months ago
- 2 answers
Yogita Ingle 4 years, 8 months ago
Coordination is indeed the essence of management. By Coordination, we mean a path through which the group functions are linked up. It binds the people of the organisation and their activities to ensure a smooth functioning of the work. It is that force which unites the working and efforts of the people of the organisation towards the common objective of the organisation. Coordination links the interrelated functions of management. It is found at every level of management. It begins right from the stage of planning where goals and objectives are set for the organisation. Coordination is then required between the stage of planning and staffing so that right kind of people are hired for the execution of the plan. Next the functions of directing and controlling must also be coordinated with each other so as to realize the achievement of desired goals.
The following points highlight the importance of coordination in management.
(a) Harmonized Goals: In any organisation, growth is one of important goals. With growth of the organisation, its size increases and the number of personnel also increases. However, greater number of persons means more differences in thoughts and work habits that may lead to disharmony among people. Also, every individual will have his/her personal goals which may create hindrance in achieving the organisational goals. So, coordination is important so as to synchronize the personal and the overall goals in one direction.
(b) Allotted Work: Each task requires specialisation to give the requisite results. For this, every organisation hires expert for different tasks. Every specialist approaches the tasks in his own unique manner and is generally reluctant to take up any advice or suggestion form others. This may lead to diversion or conflict among various specialists in the organisation. Thus, coordination is required from an outside body such as the manager so as to integrate their opinions and thoughts.
(c) Interdependence of Divisions: An organisation has various departments and sub-departments such as production, sales, finance, etc. Every department works independently and with its own policies and objectives. For example, the sales department may want greater monetary incentives for its employees but the finance department may not approve of such incentives as it may lead to increase in the cost of the organisation. In this case, there arises a conflict between the two departments. Thus, here also coordination is needed to synchronise the activities of each department towards the achievement of common goals of the organisation.
Firdish Balaggan 4 years, 8 months ago
Posted by Harshita Jain 4 years, 8 months ago
- 4 answers
Posted by Shristi Gupta 4 years, 8 months ago
- 3 answers
Khushi Varshney 4 years, 8 months ago
Posted by Firdish Balaggan 4 years, 8 months ago
- 2 answers
Posted by Praneet Kaur 4 years, 8 months ago
- 6 answers
Srishti Jain 4 years, 8 months ago
Posted by Srishti Jain 4 years, 8 months ago
- 5 answers
Mahesh M 4 years, 8 months ago
Prisha B 4 years, 8 months ago
Posted by Mahir Gupta 4 years, 8 months ago
- 4 answers
Prerna Sharma 4 years, 8 months ago
Posted by Srishti Jain 4 years, 8 months ago
- 3 answers
Shubham Jain 4 years, 8 months ago
Posted by Vinu Vinu 4 years, 8 months ago
- 1 answers
Posted by Abhishek Agarwal 4 years, 8 months ago
- 1 answers
Yogita Ingle 4 years, 8 months ago
Trading procedure :
- Selection of a Broker
The first step is to select a broker, who will buy/sell securities on behalf of the speculator/investor. This is necessary because trading of securities can only be done through SEBI registered brokers, who are members of stock exchange. Brokers may be individuals, partnership firms and corporate bodies. - Opening Demat Account with Depository
The next step is to open a demat account. Demat (Dematerialised) account refers to an account which an Indian citizen must open with the depository participant (banks and stock brokers) to trade in listed securities in "electronic form.
The securities are held in the electronic form by a depository. ‘Depository’ is an institution/organisation which holds securities (e.g. shares, debentures, bonds, mutual funds, etc) in electronic form, in which trading is done. - Placing the Order
The next step is to place the order with the broker. The order can be communicated to the broker either personally or through telephone, cell phone, e-mail, etc.
The instructions should specify the securities to be bought or sold and the price range within which the order is to be executed. Only the securities of listed companies can be traded on the stock exchange. - Executing the Order
According to the instructions of the investor, the broker buys or sells securities. The broker, then issues a contract note. A copy of the contract note contains the name and the price of securities, names of the parties, brokerage charges, etc. It is duly signed by the broker. - Settlement
This is the last stage in the trading of securities done by the brokers on behalf of their clients. The mode of settlement depends upon the nature of the contract. Equity spot markets follow a T + 2 rolling settlement. This means that any trade taking place on Monday gets settled by Wednesday. Stock, exchange operates from Monday to Friday between 9:55am and 3:30pm. Each exchange has its own clearing house, which assumes all settlement risk.
Posted by Venkatesh Rio 4 years, 8 months ago
- 0 answers
myCBSEguide
Trusted by 1 Crore+ Students
Test Generator
Create papers online. It's FREE.
CUET Mock Tests
75,000+ questions to practice only on myCBSEguide app
Vanshika Patidar 4 years, 8 months ago
0Thank You