PREPNOTES

   The famous management expert, Henry Mintzberg, proposed a five configurations approach to strategic management wherein any organization can be broken down into five core elements or parts. The interactions between these parts determine the strategy of the organization. The five parts according to Mintzberg are: The Operating Core  which consists of those doing the basic work and whose output can be directly linked to the goods and services that the organization makes and sells. According to Mintzberg, this part is common to all organizations since the core work must be done and hence, the operating element has to be put in place. The Strategic Apex , which is composed of senior management and the senior leadership, which provides the vision, mission, and sense of purpose to the organization. Indeed, it can be said that this part consists of those men and women who shape and control the destinies of the organization. The Middle Level Managers  who are the “sandwich...

    The Reserve Bank of India (RBI) is the central banking institution of India, responsible for regulating the country's monetary and financial system. Its history dates back to the early 20th century: 1. **Establishment:**  The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934. It was conceptualized and established to serve as the central bank of India, with the primary objective of ensuring monetary stability and financial soundness. 2. **Role in Colonial India:**  Prior to the establishment of the RBI, the financial system in India was primarily managed by the Imperial Bank of India, which acted as a quasi-central bank under British colonial rule. However, the need for a formal central banking institution became apparent as India's economy grew and diversified. 3. **Hilton Young Commission:**  The idea of establishing a central bank in India gained momentum in the early 20th centu...

   E-commerce, short for electronic commerce, refers to the buying and selling of goods or services over the internet. It encompasses a variety of online transactions, including online retail (e-tail), electronic payments, online auctions, and internet banking. E-commerce has revolutionized the way businesses operate, allowing companies to reach a global audience, reduce costs, and streamline their operations. It has also provided consumers with greater convenience and access to a wider range of products and services. TYPES OF E-COMMERCE:- 1. **Business-to-Consumer (B2C):**  This type involves transactions between businesses and individual consumers. B2C e-commerce is ubiquitous in the modern digital landscape, powering online retail giants like Amazon and Alibaba, as well as countless smaller businesses. It offers consumers convenience, variety, and often competitive pricing. 2. **Business-to-Business (B2B):**  B2B e-commerce refers to transactions between businesse...

   The system of well integrated, organised and regulated financial markets and financial institutions that meet the financial needs of household and corporate sector is known as financial system. The financial institutions and markets play a vital role in the financial system by providing various financial services through financial assets to the community.  The economic development of the country depends upon a well-developed financial system. It offers a mechanism through which savings are transformed into investments. The financial system is related with three terms ie. money, credit and finance. The financial system is featured by the presence of an integrated, organised and regulated financial markets and institutions. Financial system meets the short term and long term financial requirements of individual and corporate sector. A significant role is played by both financial markets and financial institutions by providing different services to the society. Financial ...

  Researchers who have studied entrepreneurial behaviour suggest that there are different types of entrepreneurs. Classifying entrepreneurs into various categories is a tricky issue. The taxonomy of entrepreneurs can be carried out in various ways. Entrepreneurs can be classified on various basis. Clarence Denhof Classifies entrepreneurs on the basis of stage of economic development: some others have classified on the basis of their functions and characteristics. In the initial stages of economic development, entrepreneurs tend to have less initiative and drive. As development proceeds, they become more innovating and enthusiastic. The various types of entrepreneurs are classified on certain parameters. Some important classifications are described below: 1. On the Basis of Economic Development: Clarence Danhof classified entrepreneurs into four groups on the basis of economic development. A. Innovating Entrepreneurs : This type of entrepreneurship is characterized by aggressive a...