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What is Budget?

In the very common terms and the general terms the budget can be defined are parameters defining the things that are available with an individual or the group of the individuals to do a certain thing in the given frame of the time. Now this can include the money or the capital to the man power to the quality and the quantity of the man power to the various forms of the raw materials to the processed goods to the technology to almost every thing. The various kinds of the plans of the business are expressed in the form of the expressions that are based on the quantitative base or the monetary base and all the policies and the planning that needs to be taken forward by the organisation depend directly or indirectly from time to time on the Budget. The process that involves the making of the budget in an organisation is referred to as the process of the budgeting and the process of the budgeting involves the making of the budget but along with this also involves the processes like the planning, controlling and coordinating the business of an enterprise.

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Explain the concept of Strategic Planning in Organization?

The strategic planning is the management activity of the organization that helps to set the priorities, helps in focusing the energy along with the resources, strengthening of the operations, ensuring the working of the employees as well as the co workers towards the common goal with all the dedication and the pain, establishment of agreement around the outcomes or the results that are intended. In order to stay in the business for the longer period of the time every business needs to covert prospects to the closed sales. Marketing itself to the customers who are potential is the strategy of the marketing. The company can have more than one kind of strategy at a time with the help of the various marketing platforms. These marketing platforms include the different kinds like that of networking, the traditional print advertising and digital media. The marketing strategies should be planned well before hand and one can build properly upon them by stopping or adjusting the strategies that are unsuccessful one in the nature. The analysis of the situation is very necessary before making any kind of the strategy. It is necessary to analyse where the business actually sits.

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Explain Management of Time

Time that passes away can not be brought back and hence in the other words it can be said that the time is not elastic in the nature and also is not at all renewable in the nature. In the present environment that one tends to listen when ever an individual comes in to the contact with other is that he or she is not having time and because of which he or she could not make at that point or was not able to come etc. Time is hence the most critical and the vital part of the life of an individual and needs to be given the required importance to grow in the life and achieve the desired results according to the vision of an individual and as a whole of an organisation. The time works at its own speed but may appear to be moving very slowly or at a very fast pace depending on the condition of an individual. In the present scenario the world actually goes according to a very famous saying “Time is money” and this saying in fact clears the exact position and the status of the time in the life of an individual. in the other words it can be said that time is every thing in the present scenario as there is an extreme kind of the pressure to perform and be in the competition and specially in the world of the globalisation, every thing is being done after the planning that is done depending on the basis of the time. The culture and the personality of an individual and as a whole of an organisation depends on the value of the time that is being given by the individual or by an organisation as a whole and hence in the other words it can be said that the time acts as a tool and an integral portion of the life of an individual to value the life and the various things that come in the life and being on the right plat form achieve the required things at the right time as the things that are done at the right time help in achieving the things at the right time too.

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What is Notice, Agenda and Minutes?

It is imperative to use and issue the notices and agendas to the all participants of a particular meeting. The company secretary is the in charge who is entitled to issue the notice and agenda to the participants of the meeting. He needs to design the notice as per the instructions that are issued by the director or the chairpersons. He has to make sure that the notice is being circulated to all the members who are going to attend the meeting to know the purpose of the meeting and its where about within the time. The notice and agenda are designed on the same page generally. Notice is normally a formal invitation to the directors, shareholders and other members that are entitled to come to the meeting to attend it. It contains the date, place and the timings of the meeting. In the common companies act, minimum twenty-one days are required to arrange a general body meeting. The notice is served to the every participant of the meeting whether it is the member or director. The notice must be served in the stipulated time and the members should be supplied a sufficient amount of the time to be ready for the meeting by arranging their documents and the matter to be discussed at the meeting. The notice must bear certain things that are essential part of it.

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Explain the basics of Risk Management

Due to globalization, the banking sector has been spread to the greater extent. As a result of this our financial services have been exposed to number of changes in the market. As far economy is concerned we need to opt proper guidance towards risk management. Banks acts an intermediator for channelizing the funds through mobilization and funds’ deployment. It results in exposure to different types of the risk like that of credit risk, liquidity risk, interest rate movement risk, foreign exchange risk etc.

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