Corporate Social Responsibility

Definition: Corporate Social Responsibility, or otherwise called as CSR is an on-going commitment of the organization to act in an ethical manner and make a contribution in the country’s economic development, while bettering the standard of living of the employees and their families, along with the society and public at large. It refers to the…

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Organizational Behaviour

Definition: The term “organizational behaviour” can be defined as the scientific study and practical application of knowledge concerning the way in which individuals and groups of individuals, act and behave within an organization, in which they work. The study also includes the interaction between members of the organization and the external environment. Further, the information…

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Group Dynamics

Definition: Group Dynamics can be understood as a process, wherein the attitude and behaviour of a member influence the behaviour of another or other members of the group, either by choice or circumstances. Factors such as individual personality, cultural traditions and social situations, often affect the group dynamics. It has the ability to change each…

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Organizational Culture

Definition: Organizational culture, as the name suggests is the culture inherent in the organization, which determines its internal atmosphere and the overall personality. It refers to a pattern of accepted and learned behaviour, which are mutually shared and are taught to the new joiners as to how to perceive, think and behave in the organization.…

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Consignment

Definition: Consignment implies a trading arrangement, wherein one party transfers goods to another party without immediate payment, who agrees for selling them on behalf and at the risk of the former, as per the instructions, to the customers, for a commission as a percentage of revenue from the sale proceeds. Consignment is opted when the…

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Macro Environment

Definition: Macro Environment can be described as the collection of those factors and conditions, which has the capability of influencing the business positively or negatively. Macro Environment is the type of external business environment in which the firm and its micro-environmental forces exist which gives opportunities or pose threats to the firm. It comprises of…

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Micro Environment

Definition: Micro Environment, refers to the environment comprising of all the actors of an organization’s immediate environment which influences the performance of the company, as they have a direct bearing on the firm’s regular business operations. The micro environment is popularly referred to as task environment or operating environment. Elements of Micro Environment The elements…

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Fraud

Definition: In general, fraud refers to wrongful deception committed intentionally, by using unfair means such as trick or lying, in an attempt to secure a financial gain or to unlawfully deprive the other party of the money, property or legal rights. In contract law, fraud is one of the elements which vitiates free consent of…

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Undue Influence

Definition: Undue Influence can be described as the practice of affecting the will of the other person by the use of the relation existing amidst the parties. Further, to employ undue influence one party has to be dominant and the other being weaker, so as to use the position to get an unfair benefit over…

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Coercion

Definition: Coercion is the primary element that vitiates free consent of the party. It refers to the method of inducing another party to act in a certain manner, which is against their will. In coercion, one party commits or threatens to commit an act which is not permissible under the Criminal Code. It also covers…

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