Short Notes on Office order

Office order is a means of internal communication within an organization. The term 'order' generally means telling subordinates to do or refrain from doing a specific job. But' passing an order high level executives want their subordinates carry out the order. When a message is conveyed as an order, it means that it carries a stamp of authority with it and has to be accepted. The high level executives circulate office order to the employees. Order is generally issued for posting of employees, promotion, suspension, transfer, and discharge from job, sanction or recession of yearly increment, imposing rules and regulations, enforcing certain rules or course of action etc.

An office order descends from the top of the organizational structure down to the employees for execution. Since office 'order is a formal course of action, it should preferably be written.

Office order is a sensible part of communication. Its subject matter should be well thought, organized, meaningful and attached with reasonable interpretation so that no unpleasant situation grows in the enterprise. It should be relevant, concise, and easy to understand and issued with proper authority and interpretation.

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Short Notes on Office circular

Office circular means written communication to be moved within the organization. It is issued to make the people concerned informed of the general matters of the organization.

In the words of R. Pal and J. S. Korlahalli "Office circulars are meant to convey some information to a large number of people. Such information are usually of general nature and not confidential."

Thus, office circular is a written method of exchanging information by which the written message of higher level are sent to lower level for their information. By means of an office circular many people are made informed of the same matter simultaneously. It is an important means of establishing written communication about 'official matters among the employees of an organization.

An office circular can be made to reach the concerned people in two ways— (i) hanging on the notice board and 

(ii) distribution of copies of circular to the readers. 

In many organizations a notice board is hung near the main gate used for entry or exit. Copies of the circular are hung on the board. Of course many organizations follow the practice of hanging circulars on notice board fixed on walls adjacent to different departments of the organization. Of course, where readers are more or numerous, many copies of office circular are distributed among the readers with or without their signature.

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Short Notes on Annual General Meeting

Every company limited by shares is required to hold a meeting with all of its shareholders once a year. Such a meeting is called annual general meeting. The first annual general meeting must be held within 18 months from the date of its incorporation. In the subsequent years the annual general meeting should be held at least once a year, but under emergency the gap between two annual general meetings may be upto 15 months. The annual general meeting carries important message to the shareholders. Usually its agenda includes declaration of dividend of shares appointment of auditor and fixation of his fees, approval of auditors report and audited accounts, approval of annual report, appointment of new directors where necessary etc.

The notice of the annual general meeting should be sent to the shareholders at least 14 days before the meeting. However, a notice of less than 14 days may be sent with the consent of all shareholders expected to remain present. The agenda of the meeting should be sent with the notice, For failure to convince the annual general meeting in time the company itself and every director liable for such failure may be fined upto Tk. 500/.

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Short Notes on Extra-ordinary Meeting

Any general meeting convened in between two annual general meetings is called extra-ordinary meeting or extra-ordinary general meeting or emergency meeting. Usually such meeting is convened for discussing and resolving important and emergency topics. Exta-ordinary meeting can be convened by the directors or shareholders. It is generally convened for altering. any clause of Memorandum of Association (M/ A) or Articles of Association (A/A) change of share capital, removal of any director, alternation of the rights of debenture holders or for any fundamental change etc.

The owners of at least one-tenth of the paid up capital of the company may submit a prayer to the board of directors for an extra-ordinary meeting. The shareholders must state the reason of the meeting in the requisition letter and it must be signed by all of them and submitted in the company's registered office. Tice board of directors must convene the extra-ordinary meeting within 21 days from the submission of the requisition. On their failure the requisiteness themselves be able to convene the meeting. Of course, the meeting should be held within three months from the 'date of requisites will bear the same effects as it were convened by the board and all expenses will be borne by the company. However, such expenses may be realized from the fees of the directors at fault.

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Short Notes on Internship Program Report

An internship report is prepared by a student under internship program and submitted to the supervisor. It is returned to the student with some comments and suggestions. After necessary modifications and alterations the internee submits the final report to the supervisor who puts his signature on the report and recommends for its evaluation by a board.

From an internship report the supervisor can learn about the nature of the activities of the internee, pattern of work in a particular organization and the nature of the people guiding his activities there.

Thus, internship progress report plays its role as a media of communication between two organizations— one providing internees and the other offering opportunities as trainer for the internees.

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Short Notes on Statutory liquidity ratio (SLR)

Statutory liquidity ratio (SLR) refers amount that the commercial banks require to maintain in the form of gold or govt. approved securities before providing credit to the customers. Here by approved securities we mean, bond and shares of different companies. Statutory Liquidity Ratio is determined and maintained by the Reserve Bank of India in order to control the expansion of bank credit.

It is determined as percentage of total demand and time liabilities. Time Liabilities refer to the liabilities, which the commercial banks are liable to pay to the customers after a certain period mutually agreed upon and demand liabilities are such deposits of the customers which are payable on demand. Example of time liability is a fixed deposits for 6 months, which is not payable on demand but after six months. example of demand liability is deposit maintained in saving account or current account, which are payable on demand through a withdrawal form of a cheque.

SLR is used by bankers and indicates the minimum percentage of deposits that the bank has to maintain in form of gold, cash or other approved securities. Thus, we can say that it is ratio of cash and some other approved liabilities (deposits). It regulates the credit growth in India.

The liabilities that the banks are liable to pay within one month's time, due to completion of maturity period, are also considered as time liabilities. 

The main objectives for maintaining the SLR ratio are the following:

• To control the expansion of bank credit. By changing the level of SLR, the Reserve Bank of India can increase or decrease bank credit expansion.
• To ensure the solvency of commercial banks.
• To compel the commercial banks to invest in government securities like government bonds.

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Short Notes on Giffen good

In economics and consumer theory, a Giffen good is a product that people consume more of as the price rises—violating the law of demand. Normally, as the price of goods rises, the substitution effect makes consumers purchase less of it, and more of substitute goods. In the Giffen goods situation, the income effect dominates, leading people to buy more of the goods, even as its price rises. 

A Giffen good is typically an inferior product that does not have easily available substitutes, as a result of which the income effect dominates the substitution effect. Giffen goods are quite rare, to the extent that there is some debate about their actual existence. The term is named after the economist Robert Giffen.

For a Giffen good to exist, theoretically three extraordinary economic characteristics must exist at the same time:

1. The good must be an inferior good, such that the demand for the good decreases with an increase in consumer income

2. The good must have an extraordinary income effect, such that a decline in price of the good causes a significance rise in real income or wealth by consumers due to the savings

3. There must be no substitutes available for the good.

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Short Notes on Terms of trade (TOT)

Terms of trade (TOT) refers to the relative price of exports in terms of importsand is defined as the ratio of export prices to import prices.It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.

An improvement of a nation's terms of trade benefits that country in the sense that it can buy more imports for any given level of exports. The terms of trade may be influenced by the exchange rate because a rise in the value of a country's currency lowers the domestic prices of its imports but may not directly affect the prices of the commodities it exports.

The term (barter) terms of trade was first coined by the US American economist Frank William Taussig in his 1927 book International Trade. However, an earlier version of the concept can be traced back to the English economist Robert Torrens and his book The Budget: On Commercial and Colonial Policy, published in 1844, as well as to John Stuart Mill's essay Of the Laws of Interchange between Nations; and the Distribution of Gains of Commerce among the Countries of the Commercial World, published in the same year, though allegedly already written in 1829/30.

Terms of trade (TOT) is a measure of how much imports an economy can get for a unit of export goods. For example, if an economy is only exporting apples and only importing oranges, then the terms of trade are simply the price of apples over the price of oranges. In other words, how many oranges can you get for a unit of apples. Since economies typically export and import many goods, measuring the TOT requires defining price indices for exported and imported goods and comparing the two.

A rise in the prices of exported goods in international markets would increase the TOT, while a rise in the prices of imported goods would decrease it. For example, countries that export oil will see an increase in their TOT when oil prices go up, while the TOT of countries that import oil would decrease.

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