05/07/ · Nature and scope of forex management pdf. Investment decision. Financial management is involved in managing all investment decisions of an organization. Investment decisions involve risk evaluation, measuring the cost of capital, and estimating benefits expected out of a particular project 04/06/ · Watch recorded lectures of experts on Financial Treasury and Forex Manangement, Click CS Professional online classes.. Key scope of the financial management. The major scope of the financial management is divided into four categories. Let’s learn and understand the nature and scope of the financial management through below detail notes The Nature of Management. The salient features which highlight the nature of management is as follows: Universal Process; Factor of Production; Goal-Oriented; Supreme in Thought and Action; Group Activity; Dynamic Function; Social Science; Important Organ Estimated Reading Time: 4 mins
International financial management
Sometimes it refers to the process of planning, organizing, staffing, directing, coordinating and controlling, at other times it is used to describe it as a function of managing people. It is also referred to as a body of knowledge, a practice and discipline. There are some who describe management as a technique of leadership and decision-making while some others have analyzed management as an economic resource, a factor of production or a system of authority, nature and scope of forex management.
It also suggests that a manager carries only a directing function. As per the above mentioned definitions, management is the art of getting things done through people who may be managers or non-managers.
At the level of chief executive, the work is got done through functional managers, at middle level the things are implemented through supervisors and at lower level of management through workers.
Human and technical skills play an important role for getting things done. These definitions represent the traditional view point of management while workers are treated as a factor of production only. They are paid wages for doing their work. i This concept does not specify what type of functions is required to be performed for getting things done from others. ii Management is treated as an art. These days management has also acquired the status of science, nature and scope of forex management.
iii The workers are treated as means of getting results. The needs and aspirations of workers are not taken into account. Management is much more than just getting the things done through others. Management may be a technique for getting things done through others by satisfying their needs and helping them grow. Harold Koontz emphasized the attainment of business goals with the co-operation of people working in the organization.
Some authors view management as a process because it involves a number of functions. Management refers to all Involves different a manager does. Various functions which are performed by managers to make the efficient use of the available material and human resources so as to achieve the desired objectives are summed up as management.
Thus, the functions of planning, organizing, staffing, directing, co-coordinating and controlling fall under the process of management. Modern authors, however, do not view co-ordination as a separate function of management. Whatever work is undertaken by a manager forms a part of management.
Above definitions associate management with the functions undertaken for running a business. There may be a difference as to what functions are required to be taken up by the management but functions such as planning, organizing, staffing, nature and scope of forex management, directing and controlling form the process of management.
These functions are continuously taken up. On the completion of last function, the first function starts again. The functions of management are interdependent and interlinked. In order to achieve the objectives, a manager has to perform various functions simultaneously.
In this sense, management refers to the principles and practices of management as a subject of study. Management is taught as a specialized branch of knowledge in educational institutions. It has drawn heavily from Psychology, Sociology, and Anthropology etc.
A person acquiring degree or diploma in management can try for a managerial job. Management is treated both as an art as well as science. An art is often regarded as the systematic application of skill or knowledge in effecting accomplishment of results, nature and scope of forex management. In management one has to use personal skill and knowledge in solving many complicated problems to achieve enterprise objectives.
Management is regarded as a science because it has developed certain principles, generalizations and techniques which have more or less universal application. So management is a study of a specific discipline. When one says that a particular person is in management stream then it is assumed that he is studying a particular field of learning.
Decision-making and guiding others is considered an important element of management. A manager has to take various decisions every day for properly running an enterprise. The quality of decisions determines the performance of a manager. He has also to provide leadership to subordinates for motivating them to undertake their work.
Association of Mechanical Engineers, U. The above mentioned definitions describe management as a science nature and scope of forex management art of decision making and controlling the activities of employees for obtaining enterprise objectives. Some authors are of the view that the science of management is used to increase productivity of the enterprise.
Management is the art of securing maximum productivity at the minimum of cost so that it helps employers, employees and public in general. Public is also a stake holder in business, it should also benefit from good performance of business. The thrust of above mentioned definitions is that integration and co-ordination of various factors of production is essential for running a business properly and this function is undertaken by management.
The term management is frequently used to denote a Refers to managerial group of managerial personnel. When one says that personnel management of such and such company is efficient, he refers to the group of persons who are looking after the working of the enterprise. These persons individually are called managers. All managers perform managerial functions of planning, organizing, staffing, directing and controlling.
Top management is mainly concerned with determination of objectives, nature and scope of forex management, strategic planning, policy formulation and overall nature and scope of forex management of the organization. The nature and scope of forex management objective of management is to run the enterprise smoothly. The profit earning objective of a business is also to be kept in mind while undertaking various functions.
The main objective of management is to use various resources of the enterprise in a most economic way. The proper use of men, materials, machines and money will help a business to earn sufficient profits to satisfy various interests. The proprietors will want more returns on their investments while employees, customers and public will expect a fair deal from the management.
All these interests will be satisfied only when physical resources of the business are properly utilized. Management should aim at improving the performance of each and every factor of production.
The environment should be so congenial that workers are able to give their maximum to the enterprise. The fixing of objectives of various factors of production will help them in improving their performance. The management should try to employ persons in various fields so that better results are possible. The employment of specialists in various fields will be increasing the efficiency of various factors of production. There should be a proper environment which should encourage good persons to join the enterprise.
The better pay scales, proper amenities, future growth potentialities will attract more people in joining a concern. Another important objective of management is to prepare plans.
Future plans should take into consideration what is to be done next. Future performance will depend upon present planning. So, planning for future is essential to help the concern. Management is an all pervasive function since it is required in all types of organized endeavour.
Thus, its scope is very large. The operational aspects of business management, called the branches of management, are as follows:. Production means creation of utilities. This creation of utilities takes place when raw materials are converted into finished products.
Plant location and layout, production policy, type of production, plant facilities, material handling, production nature and scope of forex management and control, repair and maintenance, research and development, simplification and standardization, quality control and value analysis, etc.
Marketing is a sum total of physical activities which are involved in the transfer of goods and services and which provide for their physical distribution. Marketing management refers to the planning, organizing, directing and controlling the activities of the persons working in the market division of a business enterprise with the aim of achieving the organization objectives. It can be regarded as a process of identifying and assessing the consumer needs with a view to first converting them into products or services and then involving the same to the final consumer or user so as to satisfy their wants with a stress on profitability that ensures the optimum use of the resources available to the enterprise.
Market analysis, marketing policy, brand name, pricing, channels of distribution, sales promotion, sale-mix, after sales service, market research, etc. are the problems of marketing management. Finance is viewed as one of the most important factors in every enterprise. Financial management is concerned with the managerial activities pertaining to the procurement and utilization of funds or finance for business purposes, nature and scope of forex management.
Personnel Management is that phase of management which deals with the effective control and use of manpower. Effective management of human resources is one of the most crucial factors associated with the success of an enterprise. Personnel management is concerned with managerial and operative functions, nature and scope of forex management. ii Organizing by setting up the structure of relationship among jobs, personnel and physical factors to contribute towards organization goals.
Office management is the technique of planning, coordinating and controlling office activities with a view to achieve common business objectives. One of the functions of management is to organize the office work in such a way that it helps the management in attaining its goals.
It works as a service department for other departments. The success of a business depends upon the efficiency of its administration. The efficiency of the administration depends upon the information supplied to it by the office. The volume of paper work nature and scope of forex management office has increased manifold in these days due to industrial revolution, population explosion, increased interference by government and complexities of taxation and other laws.
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30/04/ · International financial manager willinvolve the study of• exchange rate and currency markets• theory and practice of estimating future exchange rate• various risks such as political/country risk, exchangerate risk and interest rate risk• various risk management techniques• cost of capital and capital budgeting in internationalcontext• working capital management• balance of payment, and• 22/04/ · Learn, Explanation of Nature and Scope of Financial Management Financial management is one of the important aspects of finance. Nobody can ever think to Tax department also included in scope of Forex management because they are interested to get service tax when other country's currency is converted into their own currency. 5. Importers Forex is also needed for importers. Because they have to pay to foreign country's company for getting their products. So, scope of Forex management
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