Money Market...

Money Market 

                   

 Money Market is the market for dealing in monetary assets of short-term nature.Money market instruments have the characteristics of liquidity, minimum transaction cost and no loss in value .The money market is a wholesale debt market for low risk , highly liquid and short term instruments.Funds are available in this market for periods ranging from a single day upto a year.There are large number of participants in the money market:-Scheduled Commercial Banks,Mutual funds, Investment Institution, Financial institutions and finally the RBI.

Objectives of Money Market:

*  A balancing mechanism for short term surpluses and deficiencies.

* A focal point of central bank intervention for influencing liquidity in the economy.

* A reasonable access to the users of short term funds to meet their requirements at reasonable cost.

Deficiencies in the growth of Money Market:-

* It  had a very narrow base the RBI,Banks ,LIC and UTI as the only lenders participants while the borrowers were large in number;

* There are few money Market instruments.

* The interest rates were not market determined but controlled by either RBI or by a voluntary agreement between the participants through Indian banks Association.

Difference between money market and capital market:

* Money market deals with raising and development of fund for short term duration while the capital market deals with long term funding.

* Money market provide institutional source for providing working capital to the industry while the capital market offers long term capital for financing fixed assets.

Difference between Money Market and Securities Market:

Securities Market: security's market is a market place where security are dealt in i.e purchase and sales of all types of securities such as shares preference shares debentures bonds etc security market consist of stock exchange stock broker investors and regulatory authority,SEBI.

Money Market 

Various Money Market instruments

1) Government Securities - Government security are sovereign security which are issued by RBI on behalf of government the term government securities includes Central Government security State Government security and treasury bills.

All funds raised by the government from the money market are through the issue of security by the RBI does t bills government dated security are issued by the RBI on behalf of the government.

Types of Government Securities:

a) Dated Securities

b) Zero Coupon Bonds 

c) Partly Paid Stock

d)  Floating Rate Bonds,

Benefits of Investing in Government Securities:

a) No tax deduction at source.

b) additional income tax benefits.

c) qualifies for SLR purpose.

d) zero risk.

e) highly liquid

f) transparency in transactions in simplified settlement procedure through CDSL/NSDL.

2) Money at call and short Notice:

Money at call is outright money money at short notice is for maturity of or up to 14 days money for higher maturity is known as interbank deposits.

   The participants are bank and all India financial institutions as permitted by RBI from April 1991 corporate with specified minimum lendable resources for transaction have also been permitted to land in the market through the DFHL (discount and finance house of India limited). The market is an over the telephone market non Bank participants act as lender only banks borrow for a variety of reasons to maintain CRR to meet heavy payments to adjust their majority mismatch etc.

3) Bill Rediscounting: bill financing is an important device for fund raising in advance countries. when  sellor sales goods to the buyer he draw a bill of exchange on the buyer who accept it the bills are liquidated on majority hundies are popular in India.

In addition banks have a facility to read discounts the bill with RBI and other approved institutions like LIC ,GIC,UTI,IFCI etc.

4) Inter Bank participation -Vighul Committee suggested its revival for the purpose of removing in balances which affected the majority mix of banks assets two type of interbank participation issued by banks 

a) On risks sharing basis 

b)without risk sharing basis.

5) commercial paper: commercial paper is an unsecured money market instrument issued in the form of a promissory note . Commercial paper was introduced in India in 1990 with the view to enabling highly rated corporate borrows to diversify their source of short term borrowings and to provider additional instrument to investors.

6) Commercial Bills or Bills of Exchange:-

Commercial bills are basically negotiable instruments accepted by buyers for goods or services obtained by them on credit such  bill being can be kept up to the due date and encashed by the seller or maybe endorsed t to the third party in payment of dues owing to the later .But the most important method is that seller who gets the accepted bills of exchange discounted with bank or financial i institution and collect the money.

7) certificate of deposits:-certificate of deposits are similar to the traditional term deposit but are negotiable and can be traded in the secondary market . Certificate of deposits  is a document of title to a time deposits . Certificate of deposit is issued in multiple of rupees one lakh,subject to a minimum of rupees one lakh per investor. the maturity of certificate of deposites varies between 15 days and one year.

Business Management...

                    

Business management 

Business Management...

Management means to manage,it means manage the activities.Management is very important in every field like schools, colleges, hospitals, Business, our everyday life etc,without proper management no one can get success.

Business Management is manage the activities and factors of production so the objectives of business objectives can be achieved effectively and efficiently.Without management ,resources of production never become production, business without management is like a blind men ,like blind men cannot work properly same as business without management cannot work properly.

 Management is concerned with management of work , people & operations. We need management before and after the business is set up.

Management function is performed by efficient managers, Those who have managerial skills and knowledge. Those who lead,direct and motivate the subordinates.

Management is an Art...

Art is a skill in performance.It is acquired by study, observation and experience.In management manager had to direct,motivate ,lead subordinates,in Art they get knowledge how to direct,lead, motivate and work done by others,so objectives of organization can be achieved effectively and efficiently.

Management is a Science...

Science is a body of systematised knowledge & based on principles,as same way management is also a systematised body of knowledge because in management , management functions like planning, organising, directing & controlling  is also perform in a systematic way . Management is also follow management principles that's why Management is a Science.

Management as a Profession..

Like profession we need systematic knowledge, training and code of conduct ,In management also we also need systematic knowledge, training and code of conduct.So Management is a Profession.

Management as a Profession 

                   

 What are the functions of Management?

1) Planning- First and foremost function of management is Planning.Planning is deciding in advance what should be done in future.In planning manager decide the goals of organization and also decide what are the resources required like land , labour,machinery,capital etc to attain goals efficiently and effectively.In planning function manager makes plan for factors of production like....

a) Capital- In planning manager decide how much capital will require in future for attaining goals .From where we get capital,how much loan will be taken,from where we get loan ,how much interest rate will paid on capital.What should be profit rate of organization.

b) Labour-In this factors of production ,manager decide how much labour will required. What should be skill in labour ?What will be salary given to subordinates etc ?What are the training skills development plan for subordinates?

c) Machinery- In this factor of production, manager decide which type of machinery will require for production in future,and other equipments required for production.What will be the cost of production ,what will be the rent of machinery have to pay.?

2) Organising- After making all the planning of organization ,manager make organisation,it means in this function manager employ subordinates in jobs ,they employ subordinates according to their skill, knowledge & Experience.

And this function manager also decide how subordinates get promotion and what will be their salaries ,bonus etc ,In organising function manager also decide their working hours and their holidays and also makes arrangement for their training and development.

3) Directing- After making organisation ,manager most important function is to give direction,it means guiding,instructing,motivating and leading subordinates so that objectives can be achieved effectively and efficiently.In this function manager show direction to subordinates it means how work will perform in best possible way.

4) Motivating- Another most important function is Motivating,in this function manager motivates the subordinates for work . Manager motivate the employees by financial and non financial techniques,in financial technique manager give bonus ,Increament in Salary, mediclaim, retirement benefits, pension, gratuity etc and in non financial techniques manager motivates the subordinates by job Enlargement,job Enrichment,job rotation, praise and recognition competition, contests, promotion, delegation of authority etc these are the Techniques which are used by manager to motivates the subordinates.

5) Controlling-In this function of management manager compare the actual performance with planned performance ,it means in this we come to know how much we actually attained,if there is any deviation between actual performance and planned performance manager take action against the responsible subordinates and give order for future improvement.And again make planning for future.

Characteristics of Management...

📝 Management is a human activity because it is perform by human and on humans .

📝 Pervasive Activity-Management is pervasive activity because it is perform in all the level whether it is top level, middle or lower level.

📝 Universal Activity-Management is universal activity because it is perform in every field whether it is school, college, hospitals, Business,and every day life.

Concept of Supply,law of supply exception to the law of supply..

Supply 

 Supply meaning...

   Supply is the amount of a product that a producer is offering for sale at a given price during a given period of time.A store or amount of something that is provided is supply.

Supply means the amount of good that is available for sale.

Supply v/s Stock

Stock means total goods available to the producer or manufacturer but supply is part of stock which is provided for sale for eg suppose manufacturer manufacture 1000 units of suits but he is offering only 800 goods for sale at a given price so 800 is supply and 1000 is stock.

Supply Function..

It explains the functional relationship between supply of a commodity and the determinants of the supply.

           Supply of a commodity by a firm depends on price of the commodity itself, prices of other commodities, State of technology,cost of factors of production, objectives of the firm etc.The relationship between the quantity supplied and it's determinants is called the supply Function.This can be expressed mathematically as Sx=f(Px,Po,T,F,G...)

Law of Supply..

Other things remains constant, supply increases with a rise in the prices and deceases with the fall in prices there is direct relationship between price and the supply of a commodity.In other words,other things remaining the same, when price of a commodity rises ,it's quantity supplied increases and when the price decreases, quantity supplied also decreases.Thus , keeping all the determinants constant (except price of the commodity) a positive relationship between the price and supply.

Px.   Quantity supplied.

5.     30

6.      40

7.       50

8.        60 

 

Law of supply..

Shape of supply curve (Positively Sloped).

A  curve is said to be positively sloped or upward sloping when it represents relationship between two variables in which increase in value of one is associated with increase in the value of other variable and vice- versa .

Reasons for operation of the law of supply:

🖊️The rise in the price of the commodity causes rise in profit .As a result producers produce more quantity of the commodity to increase their amount of profit.

🖊️A rise in the price of the commodity induces the sellers to dispose off at least a part of their stock .The contrary happens when there is a fall in the price of the commodity.

🖊️A rise in the price causing higher profit attracts the new firms to enter the market and this adds to the supply of the commodity.

Exceptions to the Law in Supply:-

The law of supply i.e lesser supply of the commodity at lower price and more supply at Higher price does not apply in every case and situation the circumstance when the law of supply become ineffective is known as exception to the law sum of these important exceptions are as under...

1) Exceptions of further change in prices-the law does not apply if there are future expectation for further change in prices for example if sailors expect further fallen prices in future they would be ready to sell more right now even at low prices and vice versa.

2)In case of agricultural goods-the supply of agriculture goods depends more on natural factors such as amount of rainfall fertility of the soil and natural calamities etc and less on their prices.

3)In case of perishable goods -the supply of perishable goods like milk vegetables fish eggs etc is also not affected by their prices seller cannot hold these goods for long.

4) Goods of auction -the law does not apply in case of goods of auction because their supply is always limited and fixed which cannot be changed it all even though there is the change in prices.

5) Disposal of old stock -when sailor in 10 to clear of their old stock of goods they would like to sell more goods by reducing their prices.

6) In case of antique items -in case of some precious and rare goods also the law of supply does not apply artistic goods of high quality and poems written by top class poets fall under this category their supply cannot be increased even when their prices rise.

E-commerce Business...

              

E-commerce...

Commerce means buying and selling of goods and services between buyer and seller, Trading of goods and services is commerce.E-means electronic when goods and services are buying and selling with the use of electronic internet is called E-commerce.The work which before we perform manually that's work now perform with the help of internet .

"Buying and selling of goods and services electronically is called E -Commerce."Through E-commerce we can buy and sell products any time from any country.Now there is no time bound or country bound in E-commerce,we can purchase goods from any part of the world 🌎.It is paperless exchange E-payment use in E-commerce.Consumer find their products of choice in internet . Through E-commerce we make choice between different products and immediately place order of purchase and order is received within few days.So E -Commerce makes trading easy & immediately.😊.          

                    

E-commerce..

Types of E-Commerce business...

1) Business 2 Business (B2B) Commerce- When two business entities doing purchase and sale of goods and services through internet is called B2B commerce.In B2B commerce businessman sale goods and services to next businessman,who purchase goods from first businessman not for sale to consumer but added a value and again sale it to another businessman .For example-Plain suit materials are sale to another businessman to make embroidery work the business between these two is called B2B commerce.Another example when Manufacturers sale goods to wholesalers and retailers is called B2B commerce because they not sell their goods to final consumers,like Trade India ,India Mart ,Just dial etc are examples of B2B commerce.

2) Business 2 Consumer (B2C)-When goods and services are directly sell to consumer is called Business 2 Consumer.When producer or retailers directly sale goods to Consumers is called B2C E-commerce.For Example-Zomato,Myntra, flipkart etc ,these sale goods to Consumers directly.

3) Consumer 2Consumer(C2C)-In this type of commerce buying and selling tractions are perform between consumers .One consumer sale or purchase goods and services from another consumer.For Example In  OLX App consumers can sell their old products like mobile, Refrigerator,Tv etc and the consumer who want to purchase they contact each other in OLX  .that is called C2C E-commerce.

4) Government 2Consumer (G2C)-In this model Government provides goods and services to customers.Goverment provide facilities through information of Government departments in their website ,we can see the information by going to their website and we come to know the various welfare programmes of Government towards his citizens of India like if consumer want to make driving licence,adhar card,PAN card  marriage certificate,death certificate etc consumer had to fill application form in requisit website .

5) Consumer 2Government- When consumer pay electricity bill,taxes etc to the government through the government websites they use Consumer 2Government E-commerce.

6) Consumer 2Business-When consumer sell his goods or give services to the business is Consumer 2business E-commerce.In this type. consumer sell his hand made goods to businesses for further sale or give some services like data entry , article writing etc Freelancing,Fiverr are website through which consumer gives services to businesses.

7) Business 2 Government-When commerce is in  between the business and government is B2G E-commerce.In this type businessmen Fill TDS for , apply for license ,file reports to the government.

Advantages of E-commerce business..

1) Buying and selling transactions perform fastly.

2) We can find products of our choice easily in internet.

3) We can purchase goods at any time.

4) We can purchase goods from any part of the world 🌎.There is no geographical restrictions in E-commerce.

5) Operation cost is very low, because for E -Commerce business we not need to set premises for buying and selling,so operation cost is very low.

Disadvantages of E-commerce business...

1) We cannot examine products personally.

2)Depend upon internet ,if there is network problem so business cannot be run.

3) Everybody cannot understand the E-Commerce business.

4) Risk of possibility of leakage of credit card number or details.

5)Many companies cannot give product return back facility.

6) Mechanical failure can cause not run E-commerce business properly.

E-COMMERCE comprises of buying and selling of goods and services are...👇

1)   Online buying and selling.

2) Online  hotel booking.

3) Online cinema ticket booking.

4) Online banking.

5) Social Networking.

E -Business..

When the whole processes of business perform over the electronic network that is known as E-business. E-commerce is perform only buying and selling of goods and services but E- Buisness not only includes E-commerce but also various business activities . E-business is broader than E-commerce.E-Business scope is wider than E-commerce.In E-business every activity start with internet and also ends with the internet.

How E-business works...

For doing business over internet ,it is necessary that computers are interconnected with network .

In E-business manufacturers give information about their products to various wholesalers and retailers,distributors with the internet, they give advertisement of their products in internet through their website . Retailers and wholesalers give order to the manufacturer through their website and then payment also paid through the E-payment.Retailors also give advertisement of their products in internet consumer give order for the product through internet and gives payment through E-payment.In E -Business business men applies for loan to the bank through the banks website and give necessary details over the computer .

Types of E-business...

1) Pure Play- Those companies who perform their business only online mode is called pure play E-business.

2) Brick and Click- Those companies who perform their business online and offline mode is called Brick and click E-business.

Advantages of E-Business...

a) E-business works on 24/7 ..

b) Not much labour is required.

c)Save time and money due online execution of functions.

d)Cost and time decreases.

e)Quick and easier communication.

f) Purchase goods from any part of the world 🌎.

g)Goods advertise easily .

Job Enlargement &Job Enrichment..

      Doing continously same job in a company employees become boredom and monotonous and it leads to increase in   labour turnover and also employees are unhappy and demotivated .So in order to remove boredom and monotonous among employees towards their job manager follow these two techniques these are:-

1) Job Enlargement

2)Job Enrichment.

                         

                    

Job Enlargement and Job Enrichment.

Job Enlargement...

Job Enlargement means increase the tasks of same type which requires same skill.In job enlargement responsibility also increases but the level of position is remains same .It is the technique of making job interesting and reduce boredom of employees towards work .In job Enlargement various other tasks of same type is given to employees ,it means horizontal expansion of job,it increase the responsibility of employees because before he had to finish one tasks but after job Enlargement he had to complete various tasks of same type .

For example:-Employee A working in Accountant work in production department now he assigned for accounts works in sales and marketing department his job is enlarged .

              

Job Enlargement

Points to be noted 📝📝..

* Additional tasks of same type is added in job .

*Responsibility is increased.

*Level of position is remains same.

*No extra skills is required.

*Horizontal expansion of job.

*It is a technique of making job interesting.

*It helps in reducing boredom of employees towards his job.

Advantages of  Job Enlargement...

1) Diversification in Job-Various tasts are added in job so their is diversification in job.

2) Reduce boredom- By adding additional tasks in job employees cannot be bored so it reduces boredom .

3) Satisfaction and Happy- By adding variety of tasks in job ,employees are satisfied and happy.

4) Complete Freedom- Employees have full freedom in job enlargement to perform various tasks according to their own .

5) Increase Productivity- By assign various tasks to employees , employees are very happy and satisfied so the productivity of production is increases.

6)Cost Reduce-When the productivity is increases cost is reduce.

7) Moral increases-By job Enlargement morale of employees is increases because employees are satisfied and happy so ultimately moral is increases.

Disadvantages of Job Enlargement...

1) Not all the jobs can be enlarged.

2)All the employees cannot be happy by job Enlargement.

3) Responsibility increases.

4) Position level is remains same.

5) Overburden of Work.

6) Stress among employees due to more work.

Job Enrichment..

Job Enrichment means where different tasks or responsibilities assign to employees which requires more skills.In job Enrichment job becomes more challenging ,it increase the position of employees,it motivates the employees.It enhance the quality of employee .it is vertical increase in job by giving more responsible job of high level .In Job Enrichment variety of tasks are given to employee which requires higher skills. Job Enrichment leads a personal growth of employees.For Example:-A is clerk in bank after job Enrichment he assign the job of Probationary officer ,he requires higher skills to perform duties of Probationary officer,he is highly motivated,his job becomes more challenging.

          

Job Enrichment..

Points to be noted...

📝 Variety of tasks is assigned to employee.

📝 Requires higher skills & knowledge.

📝 Position level is increase.

📝Job Enrichment leads to personal growth.

📝 Employees are highly motivated.

📝Job becomes challenging.

📝It is vertical expansion of job.

Advantages of Job Enrichment...

1) Reduce boredom and monotonous of employees towards his job.

2) Position level is increased.

3) Employees are highly motivated.

4)Job Enrichment results are always positive.

5) Employees skills are increased 

6) Employees become more responsible.

7) Employees morale increases due to high position.

8)Reduce in absenteeism, labour turnover.

Disadvantages of Job Enrichment...

1) Overburden of Work .

2)Extra skill is required.

3)Lack of knowledge of new job.

4) Responsibilities increases.

5)Frastration in Employee.

6) Employees become demotivate due to Overburden of Work.

7) Absenteeism, labour turnover is increases due to more work.

How can Job be Enriched?

Job can be Enriched in these ways...

1)Job can be Enriched by giving work of higher level. 

2)Job can be Enriched by giving new skills and knowledge.

3) Job can be Enriched by upgrade the position of employees.

4)Job can be Enriched by giving more responsibility and power .

5)Job can be Enriched by giving different tasks to employees.

Thus,Job Enlargement and Job Enrichment both are the techniques used to make job interesting reduce boredom and monotonous among employees towards his job but all the employees can not be happy they  become frustrated due to heavy work load and demotivate towards his job, because all the employees are not same, some employees like challenging job ,high position ,more work etc but some employees not like challenging job , heavy work load they only want to complete their previously assigned work they don't like change.

Difference between Job Enlargement and Job Enrichment...

a) Job Enlargement is assigning extra tasks and duties to employees.

a)Job Enrichment is assigning tasks of higher level 

b) In Job Enlargement extra skills is not required.

b)In Job Enrichment extra skills and knowledge is required.

c) Job Enlargement is horizontal expansion of job.

c)Job Enrichment is vertical expansion of job.

d)In Job Enlargement position level is not change.

d) In Job Enrichment position level is change.

e) Job Enlargement various tasks of same type is given to employees.

e)In Job Enrichment various tasks of higher skills and knowledge is given to employees.

f)In Job Enlargement authority is not given to employees.

f) In Job Enrichment authority is also given to employees.

.

Manpower Planning...

What is Manpower Planning?

 Manpower Planning is also known as human resource planning.Manpower planning is a planning of man (human resources) required in future.Manpower planning is a process in which quality and quantity of manpower required in future.

Manpower Planning is planning in advance how much manpower will required in future and what will be their skill is decided.Manpower planning is also known as personnel planning,human resource planning.

Manpower planning is a process of forecasting the organisation future needs for human resources so that human resources available at right time at right place when they are needed.

                  

Manpower Planning

Manpower Planning is compulsory for?

Manpower is very important resource for every  organisation.Whether it is profitable organisation or non -profit organisation.Without this resource no other resource can work .No organization can imagine without manpower.In every field like education, business, social services,banking ,politics we need manpower because without this no one can run .it is compulsory in every field, every organisation run with manpower skill, ability (mental , physical) .this is most important resource of organization .

Manpower Planning in education?

Manpower Planning is perform in every field (education, business, hospital, social service, banking )etc .In education field we first decide how much teachers required and what should be their eligibility.This planning is perform according to their educational institution it means whether that institution for primary & secondary level or for college level after decide this we make planning how many teachers we want and what's his qualification and teaching experience .After fix that criteria we make planning how much we require in future according to their development and expansion plans . Manpower Planning is perform in order to make balance between over manpower and under manpower because both the conditions is not good for any type of organization.

Objective of Manpower Planning...

👭 To determine the exact quality & quantity of human resources will require in future.

👭There is no shortage & excess of human resources in future.

👭 Manpower is available at right time.

👭To anticipate the manpower for execute future expansion plans.

👭To improve the knowledge, skills ability of manpower according to organisation needs.

👭To use human resources efficiently and effectively.

Manpower Planning consider the following questions...

1)How much number of employees of staff does organisation have?

2) How much number of employees of staff organisation will require in future?

3)What are the skills we need in employees?

4)What are the future programs for organisation development and what type of skills are need in employees?

5)How can we keep our efficient employees for future?

What are the components of Manpower Planning?

🌟 Recruitment-Recruitment is the process of searching employees with required skills and qualification and attract them to apply for job.

               In Manpower Planning manager make planning that what are qualities & skills  in employees will require in future,after this recruitment process start , according to manpower Planning advertisement of recruitment of required skills and qualification is done.

🌟 Selection-After forecast the required skills and qualification selection process is done .In selection employees is selected who apply for job with skills and qualification.Selection is done on the basis of various tests & interviews.

🌟 Placement-After selection placement process start employees place in a suitable job .

        In Manpower Planning we come to know the vacant seats and future expansion plans.Placement is perform according to manpower Planning.

🌟 Training & Development-In Manpower Planning we forecast the require skills and training in future according to organisation development plans according to that planning training and development programme is run.

Organisational Change..

What is Organisational Change?

Change is to modify in present condition due to situations or environment.

                

Organisation change.

Organisational Change is change in organisation due to its environment.Change is very important & compulsory for every organisation.Change is inseparable in the life of organisation because in today's business are fastly changing due to its internal and external environment.Evey organisation should change his organisation according to its environment.Because today every organisation facing dynamic and changing business environment,there is no other alternative except to change his organisation.Organisation which cope up according to his changing environment get success and reach the top .

Internal factors affects changes due to following reasons:-

1)Due to change in his personnel brings changes in organisation like promotion,transfer, retirement, resignation.

2) Change in management also brings changes in organisation ,new management make change in policies, rules, working methods.

3) Organisation change also takes place due to change in work in nature.

4) Organisation change also takes place when demand of changes arises within organisation.

External Factors affects changes due to these reasons:-

External Factors are those factors which directly and indirectly affects the working of business.So every organisation continuously analysis the environment and make changes according to it .

1) Political & Legal  environment-Political environment leads necessary change in organisation.Political party in power affect the business system.Business laws, industrial, economic and corporate laws made and amended by the Government time to time, according to that laws organisations also makes changes in its behaviour and business policies.

2) Technological environment-Today revolutionary changes takes place in technology.Modern technology use of new techniques makes work easy in organisation.

3) Economic Environment-Economic Environment also brings changes in organisation.Inflation , deflation, recession,boom brings changes in cost of materials, infrastructure facilities.

4) Social and Cultural conditions-Social and cultural brings changes in organisation like social values,customs , tradition, festivals, living standard etc affects organisation.

Changes are two types:-

1) Proactive change-when changes takes place by the management at its own choice to improve a situation is called proactive change.

2) Reactive change- When organisation is change due to force by external environment is called reactive change.

   

Nature of Organisational Change..

😊 Organisational change is planned & intended.

😊 Organisational change occurs due to change in internal and external Factors in which organization run.

😊 Change is not an event it is a never ending process 

😊 Change is takes place in all the organization whether it is large or small.

😊 No organization can get success without make changes in organisation.

😊 Change is directive and participative, because plan for making change is done by top management and then they give directions to lower management so it is directive and then lower management work on it or take participation for makes changes so it is participative .

😊 Changes increase the efficiency of organization and they win the competition .

Process of Planned change..

In business we can get success when every work is performed in planned and systematic way .So Change is also performed in planned way .For makes changes every manager had to perform these functions and then follow the change process..

1)First manager had to see what are changes takes place in our products in market .

2)What the consumer like to buy his tastes, preferences,income level etc.

3)How much we should make changes in our products.

4) Available work force for making changes in product.

Process of Planned change..

1) Identify the forces of demanding change-The first & foremost step is to identify the forces which demand for the change.Forces are internal or external.Internal forces includes workers skill, demanding high salary,strike, labour problems cost of inputs etc demand for change in the organisation.

External Factors like Government policies,rules,lauching new technology,new product,tax policies, social customs, tradition, festivals living standard,labour laws etc  

2) Identify the need of change within organisation-Second step is to identify the need of change within the organisation,it means identify the which things are required to be changed compulsory and which changes can be avoided.for this purpose manager consult the external consultant.

3) Recognising the problem-Next step is to diagnose the problem within organisation carefully.For this purpose data is collected and reason behind the problem and also problem solve measures also taken into consideration,it means what changes can solve the problem for eg problem is product sale decrease so that manager see the new product fashion run in the market so manager also make changes and decide to make product accordingly.

4) Planning the change-After make sure to change in the organisation he make plan for change for this purpose he make changes in organisation structure , authority, responsibility etc ,change in job qualifications,job training,job specification etc ..

5) Implement the Plan - After making plan for change manager implement the plan for change.For implementation the change plan manager has to pass through these stages..

1) Unfreeezing-Nobody like changes ,so for making changes in organisation manager has to motivate the employees for changes  and prepare them for it ,So they willing and ready and accepting change.

2) Changing and moving-After prepare them for change plan is implement .After that changing and moving process begins it means manager give training to learn new pattern of behavior or experience for change for eg -New technology, methods etc.After giving training reward and punishment strategy is followed it means worker who work efficiently get reward otherwise get punishment.

6) Review and Feedback- After implement the change plan manager review the performance after change it means how much change is profitable for organisation . whether change in organisation is effective or not , whether it maximise profits or not then corrective actions is taken .

Points to be noted...

⭐ Organisation that learn and cope up with the changes in Environment will get success and earn more profits.

⭐ Organisation change is make alteration in present condition due to internal and external forces .

⭐ Change are of two types 1) Proactive 2) Reactive.

⭐Change is never ending process.

⭐Change is directive and participative.