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Reports are one kind of managerial instruments which used to evaluate a situation. Even in the field of social science reports are basically prepared to explore the unknown and to provide guidelines for solving a problem.
The dictionary meaning of report is, it is a formal statement of the results of an investigation.
In the words of Dr. S. M. Aminuzzaman "report is a documet in which a given problem is examined for the purpose of conveying information, reporting findings, putting forward ideas, and sometimes making recommendations." Thus it can be stated that a report is a formal presentation of facts based on investigation which generally provides recommendations.
BUSINESS REPORTS:
Business reports are analytical vehicles which help managers to run the business smoothly. Business reports includes both findings and recommendations.
The basic objective of business report is to help the managers in making decisions.
In the words of Thill and Bovee, "when business people speak of reports, they are thinking of written, factual accounts that objectively communicate information about some aspects in business."
Prof. Ricks and Gow said, "a report is a written message presenting information that will help a decision maker to solve a business problem."
Therefore it can be revealed that business reports are management took which enables the management to solve problems and make effective decisions.
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Monday, May 10, 2010
Appointment, Joining Letters
• Appointment Letters
When a candidate is selected for an appointment, he/she is informed of this through a letter called an appointment letter. An appointment letter usually reflects the following points:
1. Words of congratulations.
2. The date and time of joining.
3. The name of the person to whom to report.
4. The nature of appointment i.e. probationary, permanent or temporary. If probationary, period of probation and if temporary, the expiry date of the temporary vacancy.
5. Salary and other benefits.
6. A request to the appointee to feedback acceptance.
7. Words of expectation that the appointee will have pleasant association with the employer.
• A Specimen of an Appointment Letter
February 14, 2010
We are pleased to inform you that you have been appointed to the post you applied for.
The appointment will in the first instance be on a temporary basis. It will be made permanent after the expiration of one year -in the light of your satisfactory job performance.
Your basic salary wjll be Tk. 9760.00 p.m. in the pay scale of Tk. 9500-200-
Tk. 12100.00. You are also entitled to a house rent allowance, medical allowance and other allowances applicable to you as per company's rules. We hope you would join immediately.
Please intimate us your
acceptance of our offer as early as possible and report for your duty in this office on or before 22 February, 20- at 10. 30 a.m. WSMook forward to our pleasant association with you.
Yours faithfully,
K.B.
Hossain Human Resource Director
• Joining Letters
After you have received the appointment letter, it is now your turn to inform the appointing authority of your decision as to accept or
reject the job. If you accept the offer of
appointment, convey the appointing authority the time and date of your joining.
When you join, do it by writing a letter (which carries the message that you are joining the office) to the authority concerned.
A joining letter covers the following
points:
1. A reference of an appointment letter.
2. A message that you are joining.
3. The position you are joining.
4. The time and date of joining.
5. A request to accept the joining.
• A Model Joining Letter
15 February, 2010
Subject: Joining as an Assistant Labour Relations
Manager
Dear Sir;
As per your appointment letter
No....... dated........... I am hereby joining the..............company
as an assistant Labour Relations Manager at 11 o' clock in the forenoon of the 1st day of July 20-. Would you please accept my joining.
Yours faithfully. M.A.
Zahid
Dear
Mr.....
In reply to your application dated 25 October,
20- for the post of an Assistant Labour
Relations Manager in our firm and subsequent interview on 10 November, 2010
When a candidate is selected for an appointment, he/she is informed of this through a letter called an appointment letter. An appointment letter usually reflects the following points:
1. Words of congratulations.
2. The date and time of joining.
3. The name of the person to whom to report.
4. The nature of appointment i.e. probationary, permanent or temporary. If probationary, period of probation and if temporary, the expiry date of the temporary vacancy.
5. Salary and other benefits.
6. A request to the appointee to feedback acceptance.
7. Words of expectation that the appointee will have pleasant association with the employer.
• A Specimen of an Appointment Letter
February 14, 2010
We are pleased to inform you that you have been appointed to the post you applied for.
The appointment will in the first instance be on a temporary basis. It will be made permanent after the expiration of one year -in the light of your satisfactory job performance.
Your basic salary wjll be Tk. 9760.00 p.m. in the pay scale of Tk. 9500-200-
Tk. 12100.00. You are also entitled to a house rent allowance, medical allowance and other allowances applicable to you as per company's rules. We hope you would join immediately.
Please intimate us your
acceptance of our offer as early as possible and report for your duty in this office on or before 22 February, 20- at 10. 30 a.m. WSMook forward to our pleasant association with you.
Yours faithfully,
K.B.
Hossain Human Resource Director
• Joining Letters
After you have received the appointment letter, it is now your turn to inform the appointing authority of your decision as to accept or
reject the job. If you accept the offer of
appointment, convey the appointing authority the time and date of your joining.
When you join, do it by writing a letter (which carries the message that you are joining the office) to the authority concerned.
A joining letter covers the following
points:
1. A reference of an appointment letter.
2. A message that you are joining.
3. The position you are joining.
4. The time and date of joining.
5. A request to accept the joining.
• A Model Joining Letter
15 February, 2010
Subject: Joining as an Assistant Labour Relations
Manager
Dear Sir;
As per your appointment letter
No....... dated........... I am hereby joining the..............company
as an assistant Labour Relations Manager at 11 o' clock in the forenoon of the 1st day of July 20-. Would you please accept my joining.
Yours faithfully. M.A.
Zahid
Dear
Mr.....
In reply to your application dated 25 October,
20- for the post of an Assistant Labour
Relations Manager in our firm and subsequent interview on 10 November, 2010
Friday, May 7, 2010
FormalvInformal Communication, Grapevine
Comparison between a Formal Communication System and an
Informal Communication System
The figure 6.1 presents a comparison
between a formal communication system and an
informal communication system.
Figure 6.1 : A Comparison of the Formal and Informal
Communication
System.
F
G
H
I
J
K
i
i
Indicates formal communication Indicates
informal communication
How the Grapevine
Operates (The grapevine pattern)
The
grapevine operates in different ways. Keith Davis who has extensive research work on the nature of
grapevine in organisations has classified it into the following four possible
types:
1.
Single Strand. The single strand involves
a long line of persons passing throughwhich information reaches the final receiver. For example, in this
chain, person A(Figure 6.2) tells something to person B, who tells it to
C, who tells D and so on downthe line, till the information has reached most of the
persons concerned. This chain islikely to be used to the transmission of information which
is confidential. But the chainis the least accurate at passing on information.
2.
Gossip. In the gossip chain, one person seeks
out and tells everyone the information.This chain is just like a wheel where the sender is at the
centre and the informationmom the sender at the centre passes along the spokes of the
wheel to other persons whoare stationed on the rim. Normally information of an
interesting but non-job-relatednature flows along these 'vines'.
3. Probability. The probability chain is a random
process in which individuals areindifferent about the receivers of the message; the
communicators tell people at random andthe people
receiving the message in turn, send this to others at random. This chain isgenerally used to transmit the information
which is mildly interesting but insignificant.
123
Formal Informal Communication
4. Cluster. Each
link in this chain tends to inform a cluster of other people instead of one person
only. Suppose, an employee A tells one selected person who in turn, relays the
information to selected others. In this way, as the information becomes older
and the proportion of the persons knowing the message gets larger,
the process gradually dies out and at this stage, the receivers do
not repeat the transmission. This network is called cluster chain.
Keith Davis considers the cluster chain to be the dominant grapevine pattern in
an organisatioa He thinks that only a few individuals called "liaison
individuals" pass on the information to people they trust or
from whom they would like favours. Information that is interesting as well as
job related usually flows through this channel.
Figure 6.2 : Types
of Grapevine Chains
A
B
C
D
E
Gossip (One tells all)
Probability (Each randomly tells
others)
Cluster
(Some
tell selected others)
Single Strand (Each person
receiving the message tells other)
Informal Communication System
The figure 6.1 presents a comparison
between a formal communication system and an
informal communication system.
Figure 6.1 : A Comparison of the Formal and Informal
Communication
System.
F
G
H
I
J
K
i
i
Indicates formal communication Indicates
informal communication
How the Grapevine
Operates (The grapevine pattern)
The
grapevine operates in different ways. Keith Davis who has extensive research work on the nature of
grapevine in organisations has classified it into the following four possible
types:
1.
Single Strand. The single strand involves
a long line of persons passing throughwhich information reaches the final receiver. For example, in this
chain, person A(Figure 6.2) tells something to person B, who tells it to
C, who tells D and so on downthe line, till the information has reached most of the
persons concerned. This chain islikely to be used to the transmission of information which
is confidential. But the chainis the least accurate at passing on information.
2.
Gossip. In the gossip chain, one person seeks
out and tells everyone the information.This chain is just like a wheel where the sender is at the
centre and the informationmom the sender at the centre passes along the spokes of the
wheel to other persons whoare stationed on the rim. Normally information of an
interesting but non-job-relatednature flows along these 'vines'.
3. Probability. The probability chain is a random
process in which individuals areindifferent about the receivers of the message; the
communicators tell people at random andthe people
receiving the message in turn, send this to others at random. This chain isgenerally used to transmit the information
which is mildly interesting but insignificant.
123
Formal Informal Communication
4. Cluster. Each
link in this chain tends to inform a cluster of other people instead of one person
only. Suppose, an employee A tells one selected person who in turn, relays the
information to selected others. In this way, as the information becomes older
and the proportion of the persons knowing the message gets larger,
the process gradually dies out and at this stage, the receivers do
not repeat the transmission. This network is called cluster chain.
Keith Davis considers the cluster chain to be the dominant grapevine pattern in
an organisatioa He thinks that only a few individuals called "liaison
individuals" pass on the information to people they trust or
from whom they would like favours. Information that is interesting as well as
job related usually flows through this channel.
Figure 6.2 : Types
of Grapevine Chains
A
B
C
D
E
Gossip (One tells all)
Probability (Each randomly tells
others)
Cluster
(Some
tell selected others)
Single Strand (Each person
receiving the message tells other)
Thursday, May 6, 2010
Solution of 3Hs in Market, Command&Mixed
• The solution of three "Hs" in Market, Command and Mixed Economy:
• Capitalist Economy/Market Economy: The first method is to solve these problems through market or price mechanism. That is, what goods are to be produced and what quantities, which methods for production are to be employeed for the productivity of goods and how the output is to be distributed, should be decided by the free play of the forces of demand and supply. In such an economic system, capital and other means of production are the private property of the individual and private enterpreneurs who undertake the work of production. Consumers have freedom to buy the goods they want. In such a system, those goods are produced mere for which there is greater demand and those goods are produced less for which there is less demand. The demand and supply of various goods determine the prices and quantities produced of various goods. This method of solving these capital problems through market mechanism is used by a free-enterprise capitalist economy.
• Command Economy: In this method, t'd solvition of upshots basic problems is not achieved through the free working of demand and supply of goods and factors. But to solve these problems which has been called by several names, such as planning commission, planning ministry or planning board.
What goods to be produced, and what quantities and how they be produced, how should they be distributed among the population and how much should be invested to bring about economic growth are all decide by the central planning authority. These type of solutions had been adopted by former communist countries such as Soviet Russia, Cuba, Poland, China, etc.
• Mixed Economy: The government interferes in in the working of the capitalist economy through several policy instruments because it has now been realised that the unfettered functioning of the market mechanism or the forces of demand and supply, results in wide economic fluctuation price instability and unemployment and lack of economic growth. In other words, with the free working or the market mechanism or the forces of demand and supply, the achievement of the objectives of economic stability, full employment and rapid economic growth is not possible. During 1929-33, when all the capitalist countries, there occured a great depression which resulted in wide spread unemployment among the population them famous economist John Maynard Keynes laid on the adoption of appropriate fiscal and monetary policy so as to achieve the objective of full employment. Therefore, economist call these so-called capitalist countries as mixed capitalist enterprise system or simply mixed economy. It is worth noting here that the nature of the mixed economy of Bangladesh is different from that as the mixed economics of America and England. In Bangladesh, Government not only regulates and controls the private enterprise and market mechanism through the monetary and fiscal measures and direct controls but also itself undertake the work of production. Various industries and power production have been set up in the public sector.
• Capitalist Economy/Market Economy: The first method is to solve these problems through market or price mechanism. That is, what goods are to be produced and what quantities, which methods for production are to be employeed for the productivity of goods and how the output is to be distributed, should be decided by the free play of the forces of demand and supply. In such an economic system, capital and other means of production are the private property of the individual and private enterpreneurs who undertake the work of production. Consumers have freedom to buy the goods they want. In such a system, those goods are produced mere for which there is greater demand and those goods are produced less for which there is less demand. The demand and supply of various goods determine the prices and quantities produced of various goods. This method of solving these capital problems through market mechanism is used by a free-enterprise capitalist economy.
• Command Economy: In this method, t'd solvition of upshots basic problems is not achieved through the free working of demand and supply of goods and factors. But to solve these problems which has been called by several names, such as planning commission, planning ministry or planning board.
What goods to be produced, and what quantities and how they be produced, how should they be distributed among the population and how much should be invested to bring about economic growth are all decide by the central planning authority. These type of solutions had been adopted by former communist countries such as Soviet Russia, Cuba, Poland, China, etc.
• Mixed Economy: The government interferes in in the working of the capitalist economy through several policy instruments because it has now been realised that the unfettered functioning of the market mechanism or the forces of demand and supply, results in wide economic fluctuation price instability and unemployment and lack of economic growth. In other words, with the free working or the market mechanism or the forces of demand and supply, the achievement of the objectives of economic stability, full employment and rapid economic growth is not possible. During 1929-33, when all the capitalist countries, there occured a great depression which resulted in wide spread unemployment among the population them famous economist John Maynard Keynes laid on the adoption of appropriate fiscal and monetary policy so as to achieve the objective of full employment. Therefore, economist call these so-called capitalist countries as mixed capitalist enterprise system or simply mixed economy. It is worth noting here that the nature of the mixed economy of Bangladesh is different from that as the mixed economics of America and England. In Bangladesh, Government not only regulates and controls the private enterprise and market mechanism through the monetary and fiscal measures and direct controls but also itself undertake the work of production. Various industries and power production have been set up in the public sector.
ROBBINS' DEFINITION:
ECONOMICS IS A SCIENCE OF SCARCITY
• Robbins not only criticised Marshall's definition and other welfare definitions of economics but also provided a new definition which if considered to be more scientific and correct. If has given this definition in his famous book, "An Essay on the Nature and Significance of Economic Science," which he brought out in 1931. (According to Robbins, economics studies the problems which have arisen because of the scarcity of resources. Nature has not provided mankind sufficient resources to satisfy all its wants. Therefore, the people have to choose for which ends or for which wants the resources are to be utilised. Thus, according to Robbins, economics is the science of scarcity and it studied how the scarce resources are allocated among their different uses.) Thus he has given the following definition: "Economics is the science which studied human behaviour as a relationship between ends and scarce means which have alternative uses." This definition is based upon the following three facts:
• Unlimited wants: The first fact on which Robbins' definition is based is that man's wants are unlimited. In his definition 'ends' implies wants and for statisew wants the man uses resources. That man's wants are unlimited is a very important and fundamental fact of economic life of the people. If man's wants were limited, then no economic problem would have arisen.
• Scarce means: The second element which gives rise to economic problem is that resources are scarce in relation to wants. If the resources like wants were unlimited, no economic problem would have arisen because in that case all wants could have been satisfied and there would have been no problem of choosing between the wants and allocating the resources between them. Because the resources are scarce, all wants cannot be satisfied. Therefore, human beings have to decide for the satisfaction of which wants the resources should be used and which wants should be left unfulfilled.
• Alternative use of means: The third fact on which Robbins' definition is based is that resources or means have various alternative uses. In other words, the resources can be put to various uses. For instance, coal can be used as a fuel for the production of industrial goods, it can be used for running trains, it can be used for domestic cooking purposes and for so many other purpose.
• We thus see that Robbin's definition stands on the above-mentioned three facts, namely, unlimited wants, scarce resources and alternative uses of the resources. According to him, economics studies human behaviour regarding how the satisfies his wants with the scarce resources. According to him, economics is a human science and not a mere social science.
• Robbins not only criticised Marshall's definition and other welfare definitions of economics but also provided a new definition which if considered to be more scientific and correct. If has given this definition in his famous book, "An Essay on the Nature and Significance of Economic Science," which he brought out in 1931. (According to Robbins, economics studies the problems which have arisen because of the scarcity of resources. Nature has not provided mankind sufficient resources to satisfy all its wants. Therefore, the people have to choose for which ends or for which wants the resources are to be utilised. Thus, according to Robbins, economics is the science of scarcity and it studied how the scarce resources are allocated among their different uses.) Thus he has given the following definition: "Economics is the science which studied human behaviour as a relationship between ends and scarce means which have alternative uses." This definition is based upon the following three facts:
• Unlimited wants: The first fact on which Robbins' definition is based is that man's wants are unlimited. In his definition 'ends' implies wants and for statisew wants the man uses resources. That man's wants are unlimited is a very important and fundamental fact of economic life of the people. If man's wants were limited, then no economic problem would have arisen.
• Scarce means: The second element which gives rise to economic problem is that resources are scarce in relation to wants. If the resources like wants were unlimited, no economic problem would have arisen because in that case all wants could have been satisfied and there would have been no problem of choosing between the wants and allocating the resources between them. Because the resources are scarce, all wants cannot be satisfied. Therefore, human beings have to decide for the satisfaction of which wants the resources should be used and which wants should be left unfulfilled.
• Alternative use of means: The third fact on which Robbins' definition is based is that resources or means have various alternative uses. In other words, the resources can be put to various uses. For instance, coal can be used as a fuel for the production of industrial goods, it can be used for running trains, it can be used for domestic cooking purposes and for so many other purpose.
• We thus see that Robbin's definition stands on the above-mentioned three facts, namely, unlimited wants, scarce resources and alternative uses of the resources. According to him, economics studies human behaviour regarding how the satisfies his wants with the scarce resources. According to him, economics is a human science and not a mere social science.
Microeconomics
• Microeconomics comes from Greek word Mikros meaning small. It deals with separate separate segments of economics. K. E. Boulding defines as "Microeconomics is the study of particular firms, particular household, individual prices, wages, income, individual industries, particular commodities."
Thus, microeconomics theory seeks to determine the mechanism by which the different economic units individual attain the position of equilibrium, proceeing from the individual units to a narrowly defined group.
• Microeconomics (from Greek prefix micro- meaning "small" +"economics") is a branch of economics that studies how the individual parts of the economy, the household and the firms, make decisions to allocate limited resources, typically in markets
where goods or services are being bought and sold.
Microeconomics examines how these decisions and behaviours
affect the supply and demand for goods and services, which
determines prices; and how prices, in turn, determine the supply and demand of goods
and services.
• Subject Matter of Microeconomics: Subject matters of microeconomics are clearly found from above mentioned definition. It deals with the economic actions and behaviour or individual units and small group of individual units. In other words, in microeconomics we make a microscopic stew of the economy.
Microeconomics discuss equilibrium of innumerable units of the economy piece meal and their inter-relationship to each other.
Microeconomics theory rudies the behaviour of individual firms in regard to the fixation of price and output and their reactions to the changes in the demand and supply conditions.
Efficiency in production, efficiency in distribution of goods among people and allocative efficiency.
These ante mentioned items mainly covered the subject matter of microeconomics.
Following Varialer Ones of Microeconomics:
Price of Rice
Revenue of a firm
Met invested of a firm
Thus, microeconomics theory seeks to determine the mechanism by which the different economic units individual attain the position of equilibrium, proceeing from the individual units to a narrowly defined group.
• Microeconomics (from Greek prefix micro- meaning "small" +"economics") is a branch of economics that studies how the individual parts of the economy, the household and the firms, make decisions to allocate limited resources, typically in markets
where goods or services are being bought and sold.
Microeconomics examines how these decisions and behaviours
affect the supply and demand for goods and services, which
determines prices; and how prices, in turn, determine the supply and demand of goods
and services.
• Subject Matter of Microeconomics: Subject matters of microeconomics are clearly found from above mentioned definition. It deals with the economic actions and behaviour or individual units and small group of individual units. In other words, in microeconomics we make a microscopic stew of the economy.
Microeconomics discuss equilibrium of innumerable units of the economy piece meal and their inter-relationship to each other.
Microeconomics theory rudies the behaviour of individual firms in regard to the fixation of price and output and their reactions to the changes in the demand and supply conditions.
Efficiency in production, efficiency in distribution of goods among people and allocative efficiency.
These ante mentioned items mainly covered the subject matter of microeconomics.
Following Varialer Ones of Microeconomics:
Price of Rice
Revenue of a firm
Met invested of a firm
Economics
Generally, Economics is the study of how societies use scarce resources to produce commodities and distribute them among different people.
Economics is the social science that studies the production, distribution and consumption of goods and services.
• Marshall's Definition
Political Economy or Economy is the study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisite of well-being.
• ROBBINS' DEFINITION:
Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
Economics is the social science that studies the production, distribution and consumption of goods and services.
• Marshall's Definition
Political Economy or Economy is the study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisite of well-being.
• ROBBINS' DEFINITION:
Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
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