The Scope of HRM

The scope of HRM is very wide. It consists of all the functions that come under the banner of human resource management. The different functions are as follows −

Human Resources Planning

It is the process by which a company identifies how many positions are vacant and whether the company has excess staff or shortage of staff and subsequently deals with this need of excess or shortage.

Job Analysis Design

Job analysis can be defined as the process of noticing and regulating in detail the particular job duties and requirements and the relative importance of these duties for a given job.

Job analysis design is a process of designing jobs where evaluations are made regarding the data collected on a job. It gives an elaborate description about each and every job in the company.

Recruitment and Selection

With respect to the information collected from job analysis, the company prepares advertisements and publishes them on various social media platforms. This is known as recruitment.

A number of applications are received after the advertisement is presented, interviews are conducted and the deserving employees are selected. Thus, recruitment and selection is yet another essential area of HRM.

Orientation and Induction

After the employees are selected, an induction ororientation program is organized. The employees are updated about the background of the company as well as culture, values, and work ethics of the company and they are also introduced to the other employees.

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Training and Development

Employees have to undergo a training program, which assists them to put up a better performance on the job. Sometimes, training is also conducted for currently working experienced staff so as to help them improve their skills further. This is known as refresher training.

Performance Appraisal

After the employees have put in around 1 year of service, performance appraisal is organized in order to check their performance. On the basis of these appraisals, future promotions, incentives, and increments in salary are decided.

Compensation Planning and Remuneration

Under compensation planning and remuneration, various rules and regulations regarding compensation and related aspects are taken care of. It is the duty of the HR department to look into remuneration and compensation planning.

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BASICS OF MONEY MARKET
https://commercegurukulca.blogspot.com/2018/07/basics-of-money-market.html

BASICS OF MONEY MARKET
The financial system of any country is a conglomeration of sub-market, viz. money, capital and forex markets. The flow of funds in these markets is multi-directional depending upon liquidity, risk profile, yield pattern, interest rate differential or arbitrage opportunities, regulatory restrictions, etc. The role of money market in the overall financial system is prime in

DISTINCT FEATURES OF MONEY MARKET
https://commercegurukulca.blogspot.com/2018/07/distinct-features-of-money-market.html

 The Distinct Features of Money Market (i) It is one market but collection of markets, such as, call money, notice money, repo’s, term money, treasury bills, commercial bills, certificate of deposits, commercial papers, inter-bank participation certificates, inter-corporate deposits, swaps, futures, options, etc. and is concerned to deal in particular type of assets, the

PRE- CONDITION FOR AN EFFICIENT MONEY MARKET
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 Pre–Conditions for an Efficient Money Market A well developed money market– (a) uses a broad range of financial instruments (treasury bills, bills of exchange etc). (b) channelises savings into productive investments (like working capital), (c) promote financial mobility in the form of inter sectoral flows of funds and (d)

CONCEPTUAL FRAMEWORK OF MONEY MARKET
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 Conceptual Framework of money market
The money market is market for short-term financial assets which can be turned over quickly at low cost. It provides an avenue for equilibrating the short-term surplus funds of lenders and the requirements of borrowers. It, thus, provides a reasonable access to the users of short term money to meet their requirements at realistic prices.
 Short term

RIGIDITIES IN THE INDIAN MONEY MARKET
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 Rigidities in the Indian Money Market: Notwithstanding the deregulation process initiated by the Reserve Bank of India and several innovations, the money market is not free from certain rigidities which are hampering the growth of the market. The most important rigidities in the Indian money market are: 
(i) Markets not integrated Money market in India is not well integrated. There is

DISTINCTION BETWEEN CAPITAL AND MONEY MARKET
https://commercegurukulca.blogspot.com/2018/07/distinction-between-capital-and-money.html

 Distinction between Capital and Money Market There is, however, basically a difference between the money market and capital market. The operations in money market are for a duration upto one year and deals in short term financial assets whereas in capital market operations are for a longer period beyond one year and therefore, deals in medium and long term financial assets. Secondly, the

MONEY MARKET PARTICIPANTS (INSTITUTION)
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MONEY MARKET PARTICIPANTS (INSTITUTIONS) The important institutions operating in money market are: (i) Reserve Bank of India (RBI) is the most important participant of money market which takes requisite measures to implement monetary policy of the country. As the Central bank, RBI regulates the money market in India and injects liquidity in the banking system, when it is deficient or

MONEY MARKET INSTRUMENTS
https://commercegurukulca.blogspot.com/2018/07/money-market-instruments.html

MONEY MARKET INSTRUMENTS The money market in India is an important source of finance to industry, trade, commerce and the government sector for both national and international trade through bills–treasury/commercial, commercial papers and other financial instruments and provides an opportunity to the banks to deploy their surplus funds so as to reduce their cost of liquidity. The money market

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Features Of Management By Objectives MBO

1.Superior-subordinate participation: MBO requires the superior and the subordinate to recognize that the development of objectives is a joint project/activity. They must be jointly agree and write out their duties and areas of responsibility in their respective jobs.

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2. Joint goal-setting: MBO emphasizes joint goal-setting that are tangible, verifiable and measurable. The subordinate in consultation with his superior sets his own short-term goals. However, it is examined both by the superior and the subordinate that goals are realistic and attainable. In brief, the goals are to be decided jointly through the participation of all.

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3.Joint decision on methodology: MBO focuses special attention on what must be accomplished (goals) rather than how it is to be accomplished (methods). The superior and the subordinate mutually devise methodology to be followed in the attainment of objectives. They also mutually set standards and establish norms for evaluating performance.

4.Makes way to attain maximum result: MBO is a systematic and rational technique that allows management to attain maximum results from available resources by focussing on attainable goals. It permits lot of freedom to subordinate to make creative decisions on his own. This motivates subordinates and ensures good performance from them.

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5.Support from superior: When the subordinate makes efforts to achieve his goals, superior's helping hand is always available. The superior acts as a coach and provides his valuable advice and guidance to the subordinate. This is how MBO facilitates effective communication between superior and subordinates for achieving the objectives/targets set.