Samacheer Kalvi 12th Commerce Notes Chapter 10 Recruitment Methods

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 10 Recruitment Methods Notes

→ Recruitment is the process of finding suitable candidates for the various posts in an organisation.

→ It acts as a link between job provider and job seeker.

→ According to Edwin B. Flippo, “It is a process of searching for prospective employees and stimulating and encouraging them to apply for jobs in an organisation.”

→ Recruitment process includes the following steps:
1. Planning recruitment
2. Determining vacancies
3. Identifying the sources
4. Drafting information for advertisement
5. Selecting the suitable mode of advertisement
6. Facilitating selection process
7. Evaluation and control

→ There are basically two ways by which an organisation can recruit its employees namely Internal and External sources.

→ External sources can further be classified into Direct and Indirect sources.

→ Internal Sources include Transfer, Upgrading, Promotion, Demotion, Recommendation by existing Employees, Job rotation, Retired employees, Dependants, Previous applicants, Acquisitions and Mergers.

→ Direct sources include Advertisements, Unsolicited applicants, Walk-in, Campus Recruitment, Recruitment at Factory gate, Rival firms, e-Recruitment:

→ Indirect sources include Employee referral, Govemment/Public Employment Exchanges, Employment Agencies, Employment Consultancies, Professional Associations, Deputation, Word of mouth, Labour Contractors, Job Portals, etc.

→ The recent methods of recruiting by organisations include Outsourcing and Poaching.

→ There are outsourcing firms that help in the process of recruiting through screening of applications and finding the right person for the job for which job they are paid service charges.

→ Organisations instead of training and developing their own employees hire employees of other competitive companies by paying them more both financial and non-financial benefits. It is also called raiding.

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 12th Commerce Notes Chapter 28 Company Secretary

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 28 Company Secretary Notes

→ The Key Managerial Personnel (KMP) who run a company is called with different titles viz, directors, managers, or secretary.

→ The word secretary has been originated in Latin. The Latin word ‘Secretarius’ means secret. Here secret means which is not disclosed and confidential. Hence, a person is appointed to perform activities which are confidential and manage the day-to-day business of the company.

→ According to the Companies Act in 1994, only a person having prescribed qualifications can be appointed as secretary of a company.

→ The Secretary must be a member of the Institute of Company Secretaries of India, incorporated under the Companies Act 1956.

→ Statutory qualifications are not enough to become a company secretary. The Secretary must be smart, unbiased, and must have high IQ, besides presence of mind.

→ Only an individual who is a member of Institute of Company Secretaries of India can be appointed as a company secretary.

→ The first secretary of a company is appointed by the promoters, before incorporation.

→ After the registration of company, the first board of directors appoint the secretary at the first board meeting.

→ Functions of the company secretary may be of two types:
(a) Statutory functions
(b) Non-Statutory functions

→ A company meeting must be convened and held in perfect compliance with the various provisions of the Act and the rules framed.

→ Under the Companies Act, 2013, Company meetings can be classified as under:
1. Meetings of Shareholders:
(a) Statutory Meetings
(b) Annual General Meetings (AGM)
(c) Extraordinary General Meetings (EGM) –

2. Meetings of the Directors
(a) Board meetings
(b) Committee meetings

3. Special Meetings
(а) Class Meetings
(b) Creditors and/or Debenture holders meetings

→ As per the Companies Act 2013, for taking any decision or executing any transaction, the consent of the shareholders, the Board of Directors and other specified is required. The decisions taken at a meeting are called resolutions.

→ Resolutions may be classified into three types. They are:
(a) Ordinary Resolution
(b) Special Resolution
(c) Resolution requiring special notice

→ The word ‘Vote’ originated from Latin word ‘Votum’ which means one’s wish or desire. By casting his vote one formally declares his opinion or wish in favour of or against a proposal or a candidate to be elected for an office.

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 12th Commerce Notes Chapter 9 Fundamentals of Human Resource Management

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 9 Fundamentals of Human Resource Management Notes

→ Human resource is the most important element in any organisation.

→ The significance of human resource is gaining momentum in recent years because of the growing global business leading to demand for quality workforce.

→ To accomplish personal and organisational objectives, the unique asset called human resource has to be appropriately placed.

→ According to Peter. F. Drucker, “Man, of all resources available to him, can grow and develop”.

→ In the words of Leon C . Megginson, Human Resources refers to “the total knowledge, skills, creative abilities, talents and aptitudes of an organisation’s workforce, as well as the values, attitudes and beliefs of the individuals involved.

→ As per the views of Michael J. Jucius Human Resource is a “Whole consisting of interrelated, interdependent and interacting physiological, sociological and ethical components”.

→ Human resource created all other resources. Human resource exhibits innovation and creativity.

→ Human resources are movable.

→ Industrial relations depend on human resource.

→ The branch of management that deals with managing human resource is known as Human Resource Management.

→ According to Dale Yoder, Human Resource Management is “the effective process of planning and directing the application, development and utilisation of human resources in employment”.

→ Functions of human resource management may be classified as: I) Managerial function – Planning, Organising, Directing, Controlling; II) Operative function – Procurement, Development, Compensation, Retention, Integration, Maintenance.

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 12th Commerce Notes Chapter 8 Securities Exchange Board of India (SEBI)

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 8 Securities Exchange Board of India (SEBI) Notes

→ Securities and exchange board of India (SEBI) is an apex body that maintains and regulates our capital market.

→ SEBI was first established in the year 1988.

→ It was made as an autonomous body by The Government of India on 12 May 1992.

→ SEBI has its headquarters at the business district of BandraKurla Complex in Mumbai, and has Northern, Eastern, Southern and Western Regional Offices in New Delhi, Kolkata, Chennai and Ahmedabad respectively.

→ Regulation of Stock Exchange, protection to the investors, checking the insider trading, ahd control over brokers are the objectives of SEBI.

→ Safeguarding the interests of investors, Regulating and controlling the stock markets, Inspection and inquiries of stock exchanges, registering and controlling of stock brokers are the important functions of SEBI.

→ SEBI has wide powers regarding the stock exchanges and intermediaries dealing in securities.

→ For effective regulation of stock exchange, the Ministry of Finance issued a Notification on 13 September, 1994 delegating several of its powers under the Securities Contracts (Regulations) Act to SEBI.

→ Dematerialisation is the process by which physical share certificates of an investor are taken back by the company.

→ Purchases made by an investor are credited to his account and sales are debited.

→ Trading in dematerialized shares commenced on the NSE in December 1996 where Reliance Industries was the first company to trade its 100 shares in demat form.

→ Like the bank account, a demat account holds the certificates of financial instruments like shares, bonds, government securities, mutual funds and exchange traded funds (ETFs).

→ PAN, or permanent account number, is a unique 10-digit alphanumeric identity allotted to each taxpayer by the Income Tax Department.

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 12th Commerce Notes Chapter 2 Functions of Management

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 2 Functions of Management Notes

→ Managerial functions are time specific, institution specific and country specific.

→ It is 24 hours non stop process for attaining the objectives again and again for reaching the highest level.

→ Functions of management can be classified into two catogories: A) Main functions and B) Subsidiary functions.

→ Planning, Organising, Staffing, Directing, Motivating, Controlling and Co-ordination are the main functions of management.

→ Planning is a constructive reviewing of future needs so that present actions can be adjusted in view of the established goal.

→ Organising is the process of establishing harmonious relationship among the members of an organisation and the creation of network of relationship among them.

→ Staffing function comprises the activities of selection and placement of competent personnel.

→ Directing denotes motivating, leading, guiding and communicating with subordinates on an ongoing basis in order to accomplish pre-set goals.

→ Controlling is performed to evaluate the performance of employees and deciding increments and promotion decisions.

→ It is the control function which facilitates synchronization of actual performance with predetermined standards.

→ Co-ordination is the synchronization (or unification or integration) of the actions of all individuals, working in the enterprise in different capacities; so as to lead to the most successful attainment of the common objectives.

→ The difficulty of co-ordination is increased with the increasing size of the organisation.

→ Motivation includes increasing the speed of performance of a work and developing a willingness on the part of workers.

→ Innovation, Representation, Decision-making, and Communication are the subsidiary functions of management.

→ Innovation refers to the preparation of personnel and organisation to face the changes made in the business world.

→ A manager has to act as representative of a company.

→ Decision-making helps in the smooth functioning of an organisation.

→ Communication is the transmission of human thoughts, views or opinions from one person to another person. It helps the regulation of job and coordinates the activities.

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 11th Commerce Notes

Tamilnadu Samacheer Kalvi 11th Commerce Notes

Unit 1 Fundamentals of Business

Unit 2 Forms of Business Organisation

Unit 3 Service Business – I

Unit 4 Service Business – II

Unit 5 Service Business – II

Unit 6 Business Finance

Unit 7 Trade

Unit 8 International Business

Unit 9 The Indian Contract Act

Unit 10 Direct and Indirect Taxes

Samacheer Kalvi 12th Commerce Notes Chapter 1 Principles of Management

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 1 Principles of Management

→ Management is part and parcel of our day to day life.

→ It is goal oriented and it is an art of getting things done with and through others.

→ Management has now developed into a specialised body of management theory and philosophy.

→ Tools of management such as, accounting, business law, psychology, statistics, econometrics, data processing, etc., have enhanced the practical utility of the science of management.

→ Since 1951, many specialised schools of management offering master1 s degree in business management and administration.

→ “To manage is to forecast, to plan, to organise, to command, to co-ordinate and to control.” – Henry Fayol

→ “Management is a multipurpose organ that manages a business and manages manager, and manages worker and work.” – Peter F. Drucker

→ The art of management is fully reflected in the decision making capacity of a manager.

→ Judgment and imagination are essential even in a computerised economy. A computer cannot replace a manager in decision making.

→ “A professional manager is one who specialises in the work of planning, organising, leading and controlling the efforts of others and does so through systematic use of classified knowledge, a common vocabulary and principles and who subscribes to the standards of practice and code of ethics established by recognised body.” – Louis A. Allen.

→ The administration is ought to take business decisions while the management need to execute them to get things done with and through other functional staff working under them who are called employees of the same organization(s).

→ A process indicates the dynamic nature of management. It also implies that change is a constant reality of organisational life and management is the management of change.

→ There are twin purposes of the management process: (1) Maximum productivity or profitability and (2) Maximum human welfare and satisfaction.

→ Mr. Frederick Winslow Taylor (F.W. Taylor) brought about a scientific approach to managing the workforce after his experiments with the African and South American slaves employed in a coal field in England.

→ According to Taylor, even a small production activity like loading iron sheets into box cars can be scientifically planned.

→ There should be complete harmony between the workers and the management since if there is any conflict between the two, it will not be beneficial either for the workers or the management.

→ Workers should be considered as part of management and should be allowed to take part in decision making process of the management.

→ Workers should also resist from going on strike or making unnecessary demands from management.

→ The work assigned to each employee should suit his/her physical, mental and intellectual capabilities.

→ The Span of Management refers to the number of subordinates who can be managed efficiently by a superior.

→ With the wider span, there will be less hierarchical levels, and thus, the organizational structure would be flatter.

→ With the narrow span, the hierarchical levels increases, hence the organizational structure would be tall.

→ When the span is narrow, it requires more managers to be employed in the organization.

→ The benefit of using the wider span of management is that the number of managers gets reduced in the hierarchy, and thus, the expense in terms of remuneration is saved.

→ Also, the subordinates feel relaxed and develop their independent spirits in a free work environment, where the strict supervision is absent.

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 12th Commerce Notes

Tamilnadu Samacheer Kalvi 12th Commerce Notes

Unit 1 Management Process

Unit 2 Financial Markets – I

Unit 3 Financial Markets – II

Unit 4 Human Resource Management

Unit 5 Elements of Marketing

Unit 6 Consumer Protection

Unit 7 Business Environment

Unit 8 The Sale of Goods Act, 1930 and The Negotiable Instruments Act, 1881

Unit 9 Entrepreneurship Development

Unit 10 Company Law and Secretarial Practice

Samacheer Kalvi 12th Commerce Notes Chapter 7 Stock Exchange

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 7 Stock Exchange Notes

→ Stock exchanges contribute in a huge measure to the growth and expansion of national business.

→ Stock exchanges and organized market provide a place for the investors to buy and sell securities freely.

→ Amsterdam Stock Exchange is considered as the oldest stock exchange in the world.

→ The first stock exchange in India was“The Native Shares and Stock Brokers Association”. It became The Bombay Stock Exchange subsequently.

→ Stock Exchange (also called Stock Market or Share Market) is one of the important constituents of Capital market. It is an organised market for purchase and sale of industrial and financial security.

→ London stock exchange (LSE) is the most popular stock exchange in the world. While Bombay stock exchange (BSE) is the oldest stock exchange in India.

→ According to Hastings, “Stock exchange or securities market comprises all the places where buyers and sellers of stocks and bonds or their representatives undertake transactions involving the sale of securities.”

→ Stock exchange is a market for existing securities.

→ The prices at which securities are bought and sold are recorded. .

→ Stock exchange is a market for purchasing and selling of corporate and govt, securities.

→ It deals with shares, debentures and bonds issued by the company.

→ A stock exchange is an association of persons or body of individuals which may be registered or unregistered.

→ It accelerates the economic development of the country. It encourages capital formation.

→ Stock exchange helps an investors to convert his shares into cash quickly.

→ It safeguards, investor’s interest and ensures fair dealing.

→ There are 24 stock exchanges in the country, with 21 of them being regional in nature.

→ New York stock exchange, London Stock exchange, Tokyo Stock exchange, Hong Kong Stock exchange, Bombay Stock exchange are stock exchanges at the world level.

→ Bull, Bear, Stag, Lame Duck are the types of speculators.

→ Commodity exchange is an exchange where commodities are traded.

→ National Stock Exchange, Stock Holding Corporation of India Limited, National Clearing and Depository System, Securities Trading Corporation of India, National Securities Depositary Limited are the recent development in stock exchange.

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 12th Commerce Notes Chapter 5 Capital Market

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 5 Capital Market Notes

→ The term capital market refers to the facilities and institutional arrangements through which long-term funds, both debt and equity are raised and invested.

→ An ideal capital market is one where finance is available at reasonable cost.

→ Capital market is a market where buyers and sellers engage in trade of financial securities like bonds, and stocks.

→ Like any market, the capital market is also composed of those who demand funds (borrowers) and those who supply funds (lenders).

→ According to Aran K. Datta, capital market may be defined as “a complex of institutions investment and practices with established links between the demand for and supply of different types of capital gains”.

→ The dealings in a capital market are done through the securities like shares, debentures, etc. The capital market is thus called securities market.

→ The price of the securities is determined based on the demand and supply prevailing in the capital market for securities.

→ The participants of the capital market include individuals, corporate sectors, Govt., banks and other financial institutions.

→ Capital market has its impact in the overall economy, wherever suppliers and users of capital get together and do business.

→ The capital market is divided into two i.e., primary market and secondary market.

→ Primary market is a market for new issues or new financial claims. Hence, it is also called New Issue Market.

→ There are three ways by which a company may raise capital in a primary market. They are:
(i) Public Issue, (ii) Rights Issue (iii) Private Placement

→ Secondary Market may be defined as the market for old securities, in the sense that securities which are previously issued in the primary market are traded here.

→ For a speedy economic development adequate capital formation is necessary.

→ A number of institutions of finance have been established to cater to the credit requirements of various segments of industry and needs.

→ The foreign exchange market abets the foreign exchange trading.

Samacheer Kalvi 12th Commerce Notes