മാസം: സെപ്റ്റംബര് 2020
TRAIT AND QUALITIES OF A GOOD PROFESSIONAL
TRAIT AND QUALITIES OF A GOOD PROFESSIONAL
Generally professionals are the kind of persons that others value and respect.The following traits and qualities are important to become a true professional:
1.ORGANISATIONAL SKILLS:It means that , work area of a professional should be neat and clean.
2.EXCELLENCE:It means a good professional continuously trying to makeover his skills and knowledge, always strive for excellence in all works too.
3.GOOD COMMUNICATION:Now a days,most of the work in the corporate world involves team work.So a professional should have good communication skills .
4.POSITIVE ATTITUDE:It is very essential because ,it is important to maintain their optimistic approach when they meet hindrances.
5.FOCUS AND HARDWORK:It is very important to attain their goals and success in today’s world.
6.DEMEANOR:It reflects confidence of a professional.He must be a well expert in his field and polite manner when interacting with customers.
DIFFERENT PRESENTATION POSTURES
POSTURES
It is an important part of a presentation.The leader of presentation is speaker.He has to pay attention to his posture and he also want his audience to see him more comfortable.
DIFFERENT PRESENTATION POSTURES:
1.STANDING POSTURE: It is a strong indicator.The style of standing attaches their mindset.Suppose the speaker stand in steady position and strong,it reflects his control.
2.HANDS: Speaker can rest his hands when he is not actively engaging in gesturing.
3.PALMS UP:This indicates, Speaker appears willing to connect sincerely with the audience he is speaking.
4.PALMS DOWN:This reflects the strength and authority of the speaker.
5.CHANGE THE POSITION FREQUENTLY:At the time of presentation,do not stay the same position,try to change the position .It gives much confidence and body balance.
Advantages and Disadvantages of Email
It is a most commonly used tool for business communication.Expansion of E-MAIL is electronic mail.It uses email address for sending mails.
ADVANTAGES OF E-MAIL:
1.AVAILABILITY: People can send or receive hundreds of email everyday.In addition that they can archive more mails.
2.IT REDUCES MAILING COST & SHIPPING COST:We can post videos, photos, files whatever we want … without any payment.
3.FAST CLIENT COMMUNICATION:It is the best way to communicate with their clients about any urgent or important information very fastly.
DISADVANTAGES OF E-MAIL:
1.ACCESSIBLE TO STRANGERS:When we are sending emails,the hackers can track the messages or edit the information,and send to incorrect receiver.
2.VULNERABILITY TO LOSS:It is more chance to down the server when transferring mails,so it may lead to erase important datas.
3.DIFFICULT TO KNOW THE EMOTIONS:It is a written conversation between sender and receiver.So the receiver may hard to find the correct emotions or slang is hidden through the messages.
Objectives and process of performance appraisal
Objectives of the performance appraisal:
- To improve the job performance of employees and also to identify there development potentialities.
- To diagnose the strength or weakness of individuals so as to access the area in which training is required.
- To prevent grievance and un disciplinary activities of the personnel.
- To evaluate the success of training programmes
- To motivate the employee to perform well
- To provide coaching, counseling and career planning to employees.
- To test the effectiveness of recruitment, selection, placement and rotation process.
- To facilitate research in personnel management.
- To establish harmonious relationship between employer and employees.
- To provide valid information for deciding promotion, transfer, placement and punishment.
Process of performance appraisal:
- Determining objectives: The first step in the process is determination of objectives of performance appraisal. Based on the objectives the remaining stages of process are initiated.
- Establishing Performance standard or criteria: The standards are set up for appraising the performance of employees. Job performance standards are the work requirements that are expected from an employee on a particular job. these are the criteria against which to judge results or performance. These standards may be of physical nature. If work performance cannot be measured be measured in quantitative terms for instance, in case of a personal quality then it should be mentioned in the appraisal form.
The person who are required to do appraisal, number of times, criteria, etc must be decided in
advance. - Communicating standards: A after determining the standard, it should be communicated to the
employees. They must be aware of what is expected out of them. It should also communicate to evaluators. If there is any objection, it may be recorded. The standard can be modified in the feedback information obtain from evaluators and employees. - Measuring performance: In this stage actual performance of employees are measured. With the help of personal observation, written report, face to face interview, etc information regarding performance are gathered.
- Comparison: Actual performance and standards are compared in order to find out the deviations.
- Discussion: the results of the appraisal are then communicated to the employees. The deviations and reasons for deviations are analyzed and discussed with the employees. The discussion will enable the employees to know the strength and weakness of his own.
- Corrective action: By way of conducting discussion with the employees, the steps required for improving performance can be assessed and corrective action can be taken. Coaching, training,counseling,etc can be conducted to improve the performance of employees.
Definition and Characteristics of Performance Appraisal
Introduction
Performance appraisal or Performance evaluation is a method of evaluating the behaviour of employees in a work place, normally including both the quantitative and qualitative aspect of job performance. Performance here refers to the degree of accomplishment of the tasks that makeup an individual’s job. It indicates how well an individual fulfilling the job demands. Performance is measured in terms of results. Thus, Performance appraisal is the process of assessing the performance or progress of an employee, or a group of employees on th given job, as well as his potential for future development. Thus, performance appraisal comprises all formal procedures used in organisations to evaluate contributions, personality, and potential of individual employees.
According to Edwin Flippo, “Performance appraisal is the systematic, periodic and an impartial rating of an employee‘s excellence in matters pertaining to his present job and his potential for a better job.”
According to Cummings, “The overall objective of performance appraisal is to improve the efficiency of an enterprise by attempting to mobilise the best possible efforts from individuals employed in it. Such appraisals achieve four objectives including the salary reviews the development and training of individuals, planning job rotation and assistance promotions.”
Characteristics of Performance Appraisal
1. A Process: Performance appraisal is not a one-act play. It is rather a process that involves several acts or steps.
2. Systematic Assessment: Performance appraisal is a systematic assessment of an employee‘s strengths and weakness in the context of the given job.
3. Main Objective: The main objective of it is to know how well an employee is going for the organisation and what needs to be improved in him.
4. Scientific Evaluation: It is an objective, unbiased and scientific evaluation through similar measure and procedures for all employees in a formal manner.
5. Periodic Evaluation : Although informal appraisals tend to take place in an unscheduled manner (on continuous) basis with the enterprises a supervisors evaluate their subordinates work and as subordinates appraise each other rand supervisors on a daily basis.
6. Continuous Process: In addition to being periodic performance usually is an ongoing process.
Essentials of an Effective Performance Appraisal System
1. Mutual Trust: The existence of an atmosphere of confidence and trust so that both supervisor and employee may discuss matters frankly and offer suggestions which may be beneficial for the organisation and for an improvement of the employee. An atmosphere of mutual trust and confidence should be created in the organisation before introducing the appraisal system.
2. Clear Objectives: The objectives and uses of performance appraisal should be made clear and specific. The objectives should be relevant, timely and open.
3. Standardisation: Well-defined performance factors and criteria should be developed. These factors as well as appraisal form, procedures and techniques should be standardised. It will help to ensure uniformity and comparison of ratings.
4. Training : Evaluators should be given training in philosophy and techniques of appraisal. They should be provided with knowledge and skills in documenting appraisals, conducting post appraisal interviews, rating errors, etc.
5. Job Relatedness: The evaluators should focus attention on job-related behaviour and performance of employees. The results of performance rather than personality traits should be given due weight.
6. Strength and Weaknesses: The raters should be required to justify their ratings. The supervisor should try to analyse the strength and weaknesses of an employee and advise him on correcting die weakness.
7. Individual Differences: While designing the appraisal system, individual differences in organisations should be recognised. Organisations differ in terms of size, nature, needs and environment. Therefore, the appraisal system should be tailor-made for the particular organisation.
8. Feedback and Participation : Arrangements should be made to communicate the ratings to both the employees and the raters. The employees should actively participate in managing performance and in the ongoing process of evaluation. The superior should play the role of coach and counseller.
9. Post Appraisal Interview: A post-appraisal interview should be arranged so that employees may be supplied with feedback and the organisation may know the difficulties under which employees work, so that their training needs may be discovered.
10. Review and Appeal : A mechanism for review of ratings should be provided. Which particular technique is to be adopted for appraisal should be governed by such factors as the size, financial resources, philosophy‘and objectives of an organisation.
Solved Problem: P/L A/C of Banking Companies
Meaning and Types of Companies
As per Section 2(20) of the Companies Act, 2013, “Company” means a company incorporated under the Companies Act, 2013 or under any previous company law (e.g., the Companies Act, 1956). Different types of companies have been defined (under various sub-sections of the
Companies Act, 2013) as follows:
2(21) “company limited by guarantee” means a company having the liability of its members limited by the memorandum to such amount as the members may respectively undertake to contribute to the assets of the company in the event of its being wound up;
2(22) “Company limited by shares” means a company having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them;
2(42) “Foreign company” means any company or body corporate incorporated outside India which –
(a) has a place of business in India whether by itself or through an agent
physically or through electronic mode; and
(b) conducts any business activity in India in any other manner.
2(45) “Government company” means any company in which not less than 51% of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments, and includes a company which is a subsidiary company of such a Government company;
2(68) “Private company” means a company having a minimum paid-up share capital as may be prescribed, and which by its articles,—
(i) restricts the right to transfer its shares;
(ii) except in case of One Person Company, limits the number of its members to two hundred:
2(71) “Public Company” mans a company which—
(a) is not a private company;
(b) has a minimum paid-up share capital as may be prescribed:
Recognition of provision and contingent liabilities
A provision shall be recognised when:
(a) an entity has a present obligation (legal or constructive) as a result of a
past event;
(b) it is probable that an outflow of resources embodying economic benefits
will be required to settle the obligation; and
(c) a reliable estimate can be made of the amount of the obligation.
If these conditions are not met, no provision shall be recognised.
An entity shall not recognise a contingent liability.
Contingent liabilities may develop in a way not initially expected. Therefore, they are assessed continually to determine whether an outflow of resources embodying economic benefits has become probable. If it becomes probable that an outflow of future economic benefits will be required for an item previously dealt with as a contingent liability, a provision is recognised in the financial statements of the period in which the change in probability occurs (except in the extremely rare circumstances where no reliable estimate can be made).
An entity shall not recognise a contingent asset.
Contingent assets are not recognised in financial statements since this may result in the recognition of income that may never be realised. However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and its recognition is appropriate.
34 A contingent asset is disclosed, as required by paragraph 89, where an inflow of economic benefits is probable.
Measurement
The amount recognised as a provision shall be the best estimate of the
expenditure required to settle the present obligation at the end of the
reporting period.
The Commerce Lecturer 