ECONOMICS

A Study On Perception Towards Inflation And Measures To Control It

Inflation is a global phenomenon and every country is facing an upsurge in inflation. Today, it is considered as an economic destructive weapon as it has hit most of the countries in the world. Worldwide, people are talking about Inflation as an economic concept as well as an economic indicator. At its most basic level, inflation is simply a rise in prices. It is a measure of price increases within a set of goods and services over a period of time. In other words, over time, as the cost of goods and services increases, the value of a currency is going to go down because you won't be able to purchase as much with that currency as you had purchased in the past i.e. last week, last month or pervious year. It is important to note that some amount of inflation is actually desirable in the economy because of its relationship with employment and economic growth. But too much inflation is not good for the economy. Rising inflation, an economic disease has disturbed the minds of governments, economists and public as they are feeling the punch of the inflation due to rise in price of all commodities. The rise in prices has made life miserable in India and other developing and poor countries. It is a heavy tax on people at large. The industries have been hit by inflation due to rising input cost which is putting pressure on their bottom-line. The government is also losing crores of rupees due to various fiscal measures adopted by it. Inflation is also affecting the economic growth process.

Dr.N.Maruti Rao
Senior Lecturer in Finance & Management
Kousali Institute of Management Studies
Karnatak University
Dharwad,Karnataka
maruti_mn@rediffmail.com

HUMAN RESOURCE MANAGEMENT

Impact of Liberalization On Education

The rapid development due to General Agreement on Trades in services (GATS) as well as other agreements certified have led to an increased emphasis on trade services in this era of globalization. It's GATS which focus on trade services agreements and which was wholly administered by the 154 member countries i.e a powerful organization of World Trade Organization (WTO), off these, Education is one of the 12 services which was covered by the GATS. Consequently, academic interest in Education has increased, as has been demonstrated by several special issues of education related journals . It is because of GATS that USA has generated much revenue (i.e 30 billions US dollars in 1999) from the export of education services, thereby making it the country's fifth largest service sector exports (Gabriel, 2005). Recently, OECD study(Larsen et al, 2002) estimated that values of trade in education services was about $US 30billions in 1999. In the interim, there is an initial body of empirical research in impact of liberalization of education. However, this research stems from several disciplines and is scattered throughout numerous journals. The purpose of this paper is, therefore, to provide a review of this literature and to identify implications for further research that can enhance the understanding of the impact of liberalization on education.

Retention of Employees In The Manufacturing Company - A Case Study

Human resource management involves employing the people, developing their resources, utilizing, maintaining and compensating their services in tune with the job and organizational requirements with a view to contribute to the goals of the organization, individual and the society. Human resource management is concerned with the development of human resource, i.e. knowledge, capacity, skills, potentialities and attaining & achieving employee goals, including job satisfaction of employees from all levels and categories (unskilled, professional, clerical and managerial). Therefore, human resource management includes, all those activities starting from human resource planning, up to the employee retention.
The challenges in people management in any organization are,
1. Attracting, developing and retaining the right talent work source which is necessary for the productive work force.
2. Developing the way to forecast to know the workers needs.
3. Understanding the workforce agility.
Among the above, employees retention in today's contemporary business is really a changing job to the leader organizations [1].The key to retaining productive employees is making their environment as conductive as possible to the achievement of the company's business goals and objectives. To design the appropriate retention program, companies should take the step and try to access the relationship the company has with its individual employees and how they perceive their relationship with the company.

pnagesh1973@rediffmail.com

aishasheriff@hotmail.com

An Analysis of Human Resource Accounting In Some IT Companies

A knowledge-intensive company leverages know-how, innovation and reputation to achieve success in the marketplace. Hence, these attributes should be measured and improved upon year after year to ensure continual success. Managing a knowledge organization necessitates a focus on the critical issues of organizational adaption, survival, and competence in the face of ever-increasing, discontinuous environmental change. The profitability of a knowledge firm depends on its ability to leverage the learn ability of its professionals, and to enhance the reusability of their knowledge and expertise. The intangible assets of a company include its brand, its ability to attract, develop and nurture a cadre of competent professionals, and its ability to attract and retain marquee clients. The intangible assets of a company can be classified into four major categories: human resources, Intellectual Property assets, internal assets and external assets. Human resources represent the collective expertise, innovation, leadership, entrepreneurship and managerial skills of the employees of an organization. Intellectual Property assets include know-how, copyrights, patents, products and tools that are owned by a corporation. These assets are value based on their commercial potential. A corporation can derive its revenues from licensing these assets to outside users. Internal assets are systems, technologies, methodologies, processes and tools that are specific to an organization.

Priya Goel
Sr.Lecturer
Department of Business Administration
Manav Rachna College of Engineering
Faridabad,Haryana

librapriyamit@gmail.com

Dr.S.Banerjee
Professor & HOD
Department of Business Administration
Manav Rachna College of Engineering
Faridabad,Haryana

drsbanerjee53@yahoo.co.in

OPERATIONS  MANAGEMENT

How Becoming Lean Can Improve Performance : A Study on Bangladeshi Garment Industry

In this article the researchers would like to discuss two basic points: Why lean production systems becoming increasingly important as a technique to improve organizational performance and how two Bangladeshi garment firms brought changes in their traditional business process through LPS (Lean production system).“Lean production is the end point of the process leading out of the Fordist-Tailorist paradigm”. Lean production places emphasis on the elimination of non-value added activity as well as waste from the production process. The goal of lean is to satisfy the customer by delivering the highest quality at the lowest cost in the shortest time (Manufactured Housing Research Alliance, 2005). The major purposes of the use of lean production are to increase productivity, improve product quality and manufacturing cycle time, reduce inventory, reduce lead time and eliminate manufacturing waste. To achieve these, the lean production philosophy uses several concepts such as one-piece flow, kaizen, cellular manufacturing, synchronous manufacturing, inventory management, pokayoke, standardized work, work place organization, and scrap reduction to reduce manufacturing waste (Russell and Taylor, 1999). In lean production systems attempts are made to eliminate waste through continuous improvement of processes of the entire value chain in the organization. Having nurtured a lean manufacturing mindset among the employees, it facilitates achievement of continuous product flow through physical rearrangement and control mechanisms. A study (Sohal, 1996, p.91) indicates that “most western manufacturers have been aware of the need to improve their performance and competitiveness for nearly two decades”.

farhana@ewubd.edu

Amir Ahmed
Faculty
Department of Business Administration
International Islamic University of Chittagong,Bangladesh

aaff73@yahoo.com

STRATEGIC DECISION MAKING

A Bibliographic Sketch On Working Capital Management

The present paper sincerely attempts to have a complete bibliographic sketch that is expected to acknowledge the literatures, dealing with the meaningful impact of working capital management on corporate wellbeing across the globe. In this attempt, books, edited books, research papers of referred journals having national and international importance, working papers series and doctoral dissertations of reputed world class universities, major conference proceedings, research bulletins, etc., have been collected which have either a close proximity with the management of various components of working capital or the complete theme of working capital management itself. The research materials so collected then assembled in an alphabetic order as and when they appeared, strictly as per the instructions of Harvard family of citing bibliography. It is believed that a collection of literatures of this volume and capacity would be immensely helpful to the world wide researchers to develop further insight on this aspect of financial management and, hopefully, induce them with necessary stimuli for having further empirical investigation to analyze and arrive at a suitable “liquidity-risk trade-off” point that is expected to unfold various aspects of understanding corporate liquidity and its meaningful contribution to profitability and overall working efficiency of the Organisation.