- Globalisation increases competition, forcing firms to improve efficiency, reduce costs, and enhance quality.
- It helps developing countries by attracting foreign capital and technology, increasing exports, and improving productivity.
- It creates more employment opportunities and improves the efficiency of banking and financial sectors.
- However, it causes structural adjustments and redistribution of economic and political power, which may create instability.
- Globalisation may also expose economies to global downturns, protectionism, and challenges like high costs, infrastructure problems, and lack of international experience.
Topics
Introduction to Human Resource Management
- Human Resource Management
- Characteristics of Human Resource Management
- Importance of Human Resource Management
- Human Resources as a Competitive Advantage
- Functions of Human Resource Management
- Overview of Introduction to Human Resource Management
Job Analysis and Manpower Planning
- Job Analysis
- Relevance of Job Analysis
- Job Description or Position Description
- Job Specification or Man Specification or Employee Specification
- Job Enlargement
- Job Enrichment
- Manpower Planning
- Manpower Estimation
- Overview of Job Analysis and Manpower Planning
Staff Recruitment
- Aspects of Staffing > Recruitment
- Characteristics of Recruitment
- Sources of Recruitment
- Sources of Recruitment
- Differences Between Internal and External Sources of Recruitment
- E-recruitment
- Overview of Staff Recruitment
Staff Selection
- Aspects of Staffing > Selection
- Difference Between Selection and Recruitment
- Steps in Employee Selection Process
- Psychological Tests
- Interviews
- Types of Interviews
- Limitations of Interview
- Overview of Staff Selection
Staff Training
- Training
- Comparative Overview of Training, Education, and Development
- Importance of Training
- Types of Training
- Preparation of Training Programme
- Methods and Techniques of Training: On-the-Job Training
- Methods and Techniques of Training: Off-the-Job Training
- Types of Employee Training: Key Distinctions
- Hindrances to Training
- Benefits of Training to Employer and Employee
- Overview of Staff Training
Staff Morale
- Meaning and Definition of Staff Morale
- Characteristics of Staff Morale
- Morale Productivity Matrix
- Measurement of Morale
- Factors Influencing Morale
- Determinants of Morale
- Methods of Raising Morale
- Indicators of Low Morale or Disadvantages of Low Morale
- Passive Effects of High Morale or Advantages of High Morale
- Importance of Team Work
- Measures for Building Effective Teams
- Overview of Staff Morale
Staff Motivation
- Meaning and Definition of Staff Motivation
- Motivation> Motivation Process
- Characteristics of Staff Motivation
- Difference Between Motivation and Morale
- Motivation> Importance of Motivation
- Factors Influencing Motivation
- Difference Between Financial/Monetary and Non-Financial/Non-Monetary Incentives
- Maslow's Theory of the Hierarchy of Human Needs
- Herzberg's Two Factor Theory
- Critical Appraisal of Herzberg's Theory
- Relationship Between Maslow and Herzberg Theories
- Overview of Staff Motivation
Staff Remuneration
- Meaning and Definition of Staff Remuneration
- Money Wages and Real Wages
- Methods of Wage Payment: Time-Rate System
- Methods of Wage Payment: Piece-Rate System
- Distinction between Time-Rate and Piece-Rate System
- Wage Records
- Various Staff Benefits
- Gratuity
- Types of Leave
- Overview of Staff Remuneration
Staff Leadership
- Meaning and Definition of Leadership
- Distinction Between Leadership and Management
- Importance of Leadership
- Leadership - Qualities of a Good Leader
- Leadership Styles
- Difference between Different Styles of Leadership
- Leaders: Born or Made?
- Leadership Continuum
- Situational Leadership
- The Managerial Grid
- Overview of Staff Leadership
Staff Appraisal
- Performance Appraisal
- Potential Appraisal
- Objectives of Performance Appraisal
- Importance of Performance Appraisal
- Method of Performance Appraisal
- Appraisal by Results
- Appraisal by Superior Staff
- The 360° Appraisal
- Overview of Staff Appraisal
Staff Promotion and Transfer
- Meaning and Definition of Promotion
- Benefits of Promotion
- Limitations of Promotion
- Open and Closed Policy of Promotion
- Dry Promotion and Upgrading
- Demotion
- Requirements of a Sound Promotion Policy
- Bases of Promotion
- Meaning and Definition of Staff Transfer
- Need and Purposes of Staff Transfer
- Types of Transfer
- Is Transfer a Punishment?
- Transfer Policy
- Overview of Staff Promotion and Transfer
Staff Separation
- Introduction of Staff Separation
- Means of Staff Separation
- Exit Interview
- Overview of Staff Separation
Emerging Trends in Human Resources
- Flexible Hours
- Permanent Part Time
- Work from Home
- Retainership
- Virtual Team
- Self-managing Teams (SMTs)
- Overview of Emerging Trends in Human Resources
Business Communication
- Communication
- Importance of Communication in Business
- Elements of the Communication Process
- Oral or Spoken Communication
- Written Communication
- Distinction between Oral Communication and Written Communication
- Gestural Communication
- Visual Communication
- Distinction Between Gestural and Visual Communication
- Internal Communication
- External Communication
- Distinction Between Internal and External Communication
- Communication> Formal Communication
- Communication> Informal Communication or Grapevine
- Distinction Between Formal and Informal Communications
- Horizontal Communication
- Vertical Communication
- Diagonal Communication
- Barriers to Communication
- Overcoming the Barriers to Communication
- Current Trends in Business Communication
- Overview of Business Communication
Business Correspondence
- Needs and Functions of Business Correspondence
- Elements and Components of Business Letters
- Essentials of a Good Business Letter
- Types of Letters
- Overview of Business Correspondence
Reports and Report Writing
- Meaning and Definition of a Report
- Characteristics of Reports
- Purposes or Functions of Reports
- Essentials of a Good Report
- Format of a Report
- Types of Reports
- Overview of Reports and Report Writing
Various Business Entities
- Sole Proprietorship
- Concept of Partnership
- Difference Between Partnership and Sole Proprietorship
- Private Limited Company
- Public Limited Company
- Difference Between Private Company and Public Company
- Overview of Various Business Entities
Sources of Business Finance
- Kinds of Shares> Equity Shares
- Kinds of Shares> Preference Shares
- Concept of Debentures
- Retained Profits
- Loans
- Public Deposits
- Trade Credit
- Accounting Treatment> Discounting the Bill of Exchange
- Global Depository Receipts (GDRs)
- Angel Investors
- Venture Capitalists
- Crowd Funding
- Peer-To-Peer Funding
- Factoring
- Overview of Sources of Business Finance
Globalisation
- Globalisation
- Nature of Globalisation
- Opportunities and Threats of Globalisation
- Transformation of Business by Globalisation
- Overview of Globalisation
E-Business
- Concept of E-business
- Comparative Study of E-Business
- Nature of E-Business
- Importance of E-Business
- Online Means of Conducting Business
- Overview of E-Business
Outsourcing
- Concept of Outsourcing
- Parties Involved in Outsourcing
- Concept of Outsourcing
- Business Process Outsourcing (BPO)
- Knowledge Process Outsourcing (KPO)
- Legal Process Outsourcing (LPO)
- Overview of Outsourcing
Business Regulators and Intermediaries
- Concept of Regulators and Intermediaries
- Reserve Bank of India (RBI)
- Securities and Exchange Board of India (SEBI)
- Insurance Regulatory and Development Authority of India (IRDAI)
- Pension Fund Regulatory and Development Authority (PFRDA)
- Food Safety and Standards Authority of India (FSSAI)
- Bureau of Indian Standards Authority (BISA) - Indian Standard Institute (ISI)
- Overview of Business Regulators and Intermediaries
Estimated time: 13 minutes
CISCE: Class 12
Key Points: Nature of Globalisation
- Globalisation involves liberalisation of trade by reducing tariffs, quotas, and other trade barriers.
- It encourages free trade agreements and economic reforms to promote investment and economic growth.
- Businesses operate through global supply chains and expanded market access across countries.
- It leads to financial integration, foreign direct investment (FDI), and transfer of technology worldwide.
- Globalisation increases labour mobility and political interdependence, but may also create economic disparities among nations.
CISCE: Class 12
Key Points: Opportunities and Threats of Globalisation
CISCE: Class 12
Key Points: Transformation of Business by Globalisation
- Globalisation has led to the dominance of multinational companies in many industries worldwide.
- Countries have liberalised foreign investment policies, encouraging foreign direct investment (FDI).
- Competition has increased globally, leading companies to grow through mergers and acquisitions.
- Markets have become global, and companies now treat the entire world as a single market.
- Production has become global, with different stages of manufacturing located in different countries to reduce costs.
- Modern communication technologies, such as video conferencing and email, help firms manage global operations effectively.
