NEGOTIATION AND HOW IT ACTS BENEFICIAL

What is Negotiation

Negotiation is a very wide term which is essential everywhere.

• It is not restricted within the boundaries of an organisation but is important and can be seen in our daily life.

• It is a mode by which people resolve their differences.

• It is a method by which adjustment or compromise is reached while avoiding quarrel or conflict.

• Negotiation refers to an activity of discussing and convincing an individual, a party or a group of people to reach a state of mutual acceptance to decide or agree something.

How is Negotiation Fruitful

· Avoids disputes or arguments

· Gives a brief about strengths, weaknesses and mindset of parties involved.

· All the parties agree to compromise

· Mutual acceptance among parties

· Concludes reaching some form of settlement

· Results in best possible deals

STORY- Thinking Out of Box

Once upon a time, a merchant named Sohan owed a huge sum of money to Rohan, a money lender. The time came when the merchant ran out of the last chance given to him to give the money back.

Sohan had a beautiful daughter. Rohan asked the merchant to give all the money back failing which he will marry his beautiful daughter.

Rohan was not at all good looking and was ill minded, so the merchant was in dilemma. Rohan proposed a new condition. There was a mix of black and white pebbles on the ground where they were standing. He will take two pebbles on both the hands, one will be white and the other will be black.

If the daughter correctly chooses the white pebble, then Rohan will write off all the debt and leave the marriage proposal too. But if she chooses the black pebble, he will write off the debt but will marry the daughter.

Rohan bent down to pick the pebbles from the ground and the daughter noticed that he took black pebbles on both hands.

The girl had three choices- to notify the same to her father which may provoke Rohan, take the black pebble and sacrifice her life or simply refuse to take the pebble which might land her father into trouble. But what she did totally surprise Rohan.

She took the pebble from his hand and ‘accidentally’ the pebble fell off from her hand to ground. She then asked Rohan to see which color pebble was left in his hand to identify the color she picked. Rohan had no other choice but to show the black color pebble in his hand and set them both free.

Moral

Sometimes, life offers a person a situations which not only demands hard work and perseverance but some creative thinking and presence of mind which saves the situation.

STORY: TRANSFORMATION

Brief About Story

The story named “Transformation” depicts how a person can completely transform himself/herself by self introspection. There is just a need of firm determination and everything will become possible.

Characters of the Story

Rohan- The Protagonist

Raman- Friend of Protagonist

TRANSFORMATION

Rohan, an employee in a company was a hard working asset for the organisation but he usually struggled in expressing his views. One of his friend named Raman possessing good influential skills took an initiative to help him to overcome the challenges. After some interactions he suggested Rohan to self-introspect himself and try to understand and summaries his drawbacks and work on them with a positive thinking. Rohan acted as per advice and started concentrating on getting over his weaknesses with a fighting spirit.

Raman was always co-operative and was available at each movement. His co-ordination and leadership skills helped Rohan in improving his vocabulary, body language, expressiveness, communication Skills, presentation Skills that helped him to showcase himself and his thoughts in a hesitant free manner.

SELF REALIZATION

Self Realization refers to the process of interacting with one inner self for figuring out the answers like drawbacks, strengths, weaknesses, interest areas, goals, opportunities etc for the purpose of self assessment.

It helps in understanding and summarizing one self and take required measures and actions to eradicate barriers of growth and development and working on improving strengths .

Abraham Maslow understood the importance of self interaction and placed Self Actualization as the final stage of his Motivation Theory which too is linked to the concept of Self Realization and interaction with internal self.

Importance of Self Realization

1.Higher Confidence

2.Increases Patience

3.Sharper Focus

4.Not being Controlled by Emotions

5.Acceptance

6.Helps in understanding the real clinches of an issue

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HOW TO FILL NEFT/RTGS FORM

Step 1:- Fill the Branch Code and Branch Name where service is being availed.

Step 2:- Mention Date and Time

Note:- Non Bank Customer/ Walk in Customer or Indo-Nepali NEFT Remittance can also avail the facility of NEFT and can transfer an amount up to Rs. 50,000 by vising a Bank Branch.

Step 3:- Tick the type of transfer required i.e. NEFT or RTGS.

Note:- If the amount is Rs. 2,00,000 or above, then tick RTGS otherwise tick NEFT.

Step 4:- If using a cheque for transfer, then fill the details like cheque number and amount

Note:- Sender need to write “Bank Name- NEFT” in Pay Column on Cheque in case of NEFT transaction and “Bank Name- RTGS” in Pay Column in case of RTGS transaction

Step 5:- Fill Beneficiary Details i.e. the person to whose account the amount is to be transferred.

NEFT vs IMPS vs RTGS: Which One Should You Opt To Make Fund Transfer? - informalnewz

Beneficiary Details include:-

• Beneficiary Name as per Bank Records

• Beneficiary Account Number

• Beneficiary Address

• Beneficiary Bank Name and Branch

• Beneficiary Bank IFSC Code

• Account Type i.e. Resident/ Non Resident

• Amount to be Credited ( In Figures)

• Amount To be Credited (In Words)

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Step 6:- Fill Remitter/Sender Details i.e. the person from whose account the amount is to be transferred.

Sender/ Remitter Details

• Remitter Name as per Bank Records

• Remitter Account Number

• Cash Deposited ( For Non Bank Customer)

• Mobile/ Phone Number of Remitter

• E-Mail Id

• Address of Remitter

• Remarks

Immediate Payment Service - IMPS Payment & Fund Transfer | Instant Money Transfer

Step 7:- Read the terms and Conditions

Step 8:- Attest the authorised Signature

Note:- All the account Holders need to attest their signature in case of Joint Account

Note:- If the transaction is done using a Current Account, then the Company Stamp is mandatory to be attested.

After verification of details, the transaction will be processed and conducted. The amount will be debited from Remitter’s Account and will be credited to the Beneficiary Account .

FUND TRANSFER: RTGS AND NEFT

RTGS

RTGS stands for Real Time Gross Settlement, which can be defined as the continuous (Real Time) settlement of funds individually or by order. Real Time means the processing of instructions at the time they are received rather than at some later time. “Gross Settlement” means the settlement of fund transfer instruction occurs individually.

RTGS system is generally meant for large value transactions as the minimum amount to be transfer through RTGS is Rs. 2,00,000. The maximum limit vary from bank to bank as there is no maximum limit specified by Reserve Bank Of India.

NEFT

NEFT stands for National Electronic Fund Transfer. NEFT is maintained by RBI and was started in November 2005. It is a national wide payment facility under which an individual can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country. There is no minimum limit that can be transferred using NEFT. It is done through electronic means and can be availed through online banking or through ATM’s in some banks.

Advantages of NEFT

• The sender need not send the physical cheque or Demand Draft to the Beneficiary.

• The Beneficiary need not visit his his/her bank for depositing the paper instrument.

• Credit confirmation is send by message or E-mail

•A customer can use this facility from his home place by using the internet.

Difference between RTGS and NEFT

AnterPrerna

“Anterprerna” or the internal feelings of an individual is a precious asset for growth and development of an individual. An individual will only be able to follow his/her AnterPrerna if he/she possess a faith and belief on his/her decisions.

He/she can find his/her true Anterprerna by taking to internal self that is by self introspecting and finding out the weakness and strength to create a rational opportunity for growth. Anterprerna helps in boosting the confidence on the decision and acts fruitful in improving performance and output of an individual.

Top 3 Market Opportunities in 2020 | Tradimo News

One should have a crystal clear vision in mind and should never let the flame low recalling,

“If others can do this, why can’t I and If others can’t do it, I have to definitely do it” and everything will become possible.

Remember

Everything has a solution, the only need is a different approach

GOVERNMENT JOBS AFTER BBA

Civil Services

One of the most reputed and highly competitive and difficult to crack, a BBA graduate possessing a spirit to bring a effective and efficient change, one possessing a spirit of serving the nation should apply to be a Civil Servant.

Examination and Selection Procedure

Examination Name:- Civil Service Examination

Conducting Body:- Union Public Service Commission

The Exam can be sub-divided into three groups namely Preliminary Exam, Main Exam and the interview. Candidates will have to perform well in all the three rounds to get selected.

Advantage for BBA Graduate

Since BBA graduates have studied administration during the three years of their degree, they are ideal candidates for these posts.

Banking Sector

A BBA Graduate interested in banking can join a bank. Graduates can apply for the post of Provisional Officers (PO) and clerks

Examination and Selection Procedure

Examination Name:- IBPS Clerk (For Clerk post) and IBPS PO (For PO post)

Conducting Body:- Institute of Banking Personnel Selection (IBPS)

The Exam can be sub-divided into three groups namely Preliminary Exam, Main Exam and the interview. Candidates will have to perform well in all the three rounds to get selected. There will not be any personal interview for Clerical cadre recruitment

SBI has been conducting online exams and papers for selection of Clerical Cadre and Officer Cadre separately.

Police Sub-Inspector

Candidates who are fit enough can also apply for the post of police sub-inspector after completing their graduation in BBA.

Examination and Selection Procedure:-

Examination Name:- Sub- Inspector Exam

Conducting Body:- Staff Selection Commission (SSC)

Selection will be done on the basis of merit in the written test.

Other Eligibility Criteria to Apply

Nationality Requirements

1.Must be an Indian Citizen

Minimum Height Requirements

1.157 cm for Male

2.152 cm for Female

EDUCATIONAL OPPORTUNITIES AFTER BBA

Master of Business Administration (MBA)

MBA is the most popular choice for a graduate in management domain. The course takes the graduate one step further in the management stream and builds on the basic principles that he/she was taught during graduation. A graduate can choose to go for a particular sector or industry after MBA by choosing the correct MBA specialization as per his/her interest and requirements.

Fee Structure

The average course fee for MBA in India is around Rs. 5,00,000.

May extend beyond Rs. 15,00,000 in the top colleges with a national and international reputation

What attracts students?

i) Excellent returns

ii) Pathway to some of the most well-paying jobs available in the private sector

A New Study Suggests You May Want To Rethink That MBA

Bachelor of Legislative Law (LLB)

Many students may decide to go for an LLB after BBA. Having a degree in law along with the management skills can work in the favor of a student and help them earn more money, take up cases in their chosen specialization or switch fields completely. LLB gives graduate a wide range of career options and provides a great alternative skill set to rely on.

Fee Structure

The average course fee for LLB in India ranges between Rs. 2.5-4 LPA.

What attracts students?

•Excellent returns •Range of Salary offered by Law firms range from 25-30 LPA.

•Offers a package ranging between 5-10 LPA to 18-20 LPA for Freshers

Bachelor of Education (B. Ed.)

Students who like teaching and see their future in teaching line can purse higher education by pursuing B. Ed. courses.

Qualification Requirements

Graduation from a recognized institute

Drawbacks of joining B. Ed after Graduation

• Only eligible to apply for teaching in class I-VIII

• Not eligible to apply for teaching in Higher Secondary Schools or Colleges

• Must hold Master Degree to become eligible for teaching in Higher Secondary Schools or Colleges

CSR POLICY OF INDUSIND BANK

IndusInd Bank was established on 17^th April 1994 in Mumbai, Maharashtra. It derived its name from Indus Valley Civilization and is first among New Generation Private Bank in India. It offers Commercial, transaction and Electronic Products and Services. It started its operations with a Capital amount of Rs. 1 billion among which Rs. 600 million was raised by the Indian Residents and Rs. 400 million was raised by the Non-Resident Indians. It was able to grow ceaselessly and dynamically driven by a zeal to offer its customers banking services at par with the highest quality standards in the industry and is known for its continuous updates and introduction of new technology.

Its working on expanding its network of branches across the country and has a customer base of more than 2.5 crores that depicts the trust of people. It had 2453 ATMs and 1,558 branches spread across the country by the end of year 2018 and have more than 2000 branches and 5,000 distribution points by April 2021. It have Representative Offices in London, Dubai and Abu Dhabi and has its largest number of branches in Mumbai followed by New Delhi and Chennai in India.

CSR Mission Statement of IndusInd Bank Ltd

IndusInd Bank believes that ‘Good Ecology is Good Economics’.

With this belief IndusInd Bank sets a mission to continue creating value for all their stakeholders and emerge as a ‘Best-in-Class’ Bank that is committed to sustainable economic growth. They want to ensure that the Bank’s business grows consistently and responsibly, benefiting those they directly serve while also promoting the well-being of their employees, natural environment and the community at large. IndusInd Bank wants to support and design sustainable CSR programs, that primarily empower, and benefit marginalized and weaker sections of society, high-risk and high-stressed communities.

Guiding Principles of IndusInd Bank Ltd CSR Policy

1.Strengthen their governance framework with ethics, transparency and accountability

2.Provide value to consumers through effective stakeholder engagement

3.Promote gender equality, diversity and wellbeing of all employees

4.Respect the protection of internationally proclaimed human rights

5.Engage with Government and Trade & Industry Associations on national and international platforms

6.Build inclusive, healthy and sustainable communities

7.Undertake initiatives to promote greater environmental responsibility

8.Communicate their CSR objectives and goals to all internal and external stakeholders

CSR: TYPES OF CORPORATE SOCIAL RESPONSIBILITY

CSR is the process by which an organisation thinks about and evolves its relationship with stakeholders for common goods and demonstrate its commitment in their regard by adoption of appropriate business process and strategies.

CSR is no charity or mere donations but is a way of conducting business, by which corporate entities visibly contribute to social good. Socially responsible companies use CSR to integrate economic, environmental and social objectives with companies operations and growth.

TYPES OF CORPORATE SOCIAL RESPONSIBILITY

1.Philanthropic Responsibility

At the top of the pyramid, occupying the smallest space is Philanthropic Responsibility. Businesses have long been criticized for their carbon footprint, their part in pollution and exploitation of natural resources. To counterbalance these negatives a business stands a responsibility to “give back” to the community they take from.

Philanthropic responsibility include things such as:-

i) Funding educational programs

ii) Supporting health initiatives

iii) Donating to causes

iv) Supporting community beautification projects

2. Environmental Responsibility

Environmental CSR aims to reduce any damaging effects on the environment from operations of business.

It may focus on:

1. Energy use

2. Water use

3. Waste Management

4. Recycling

5. Emissions

6. Eco-friendly office and business travel policies

Advantages of Environmental CSR

1. Green CSR can reduce business risk

2. Improve reputation

3. Provide opportunities for cost savings

Even the simplest energy efficiency measures can generate savings and make a difference for firm.

3. Legal Responsibility

Legal responsibilities are not only liable to the individuals in the society but also to the businesses in the society. As business is an entity itself, it must also follow laws and rules.

Every business has a responsibility to operate within the boundaries set by the various commissions and agencies at every level of the Government. These rules and regulations are set for maintaining balance and the greater good of the society.

A law-abiding enterprise is a socially responsible enterprise as well. The business is free to do business however it wants but only within the boundaries of regulations of various laws

Some Laws are as follow:-

1. Labour Law

2. Environmental Law

3. Criminal Law

For example, it’s a business’s duty to pay taxes to the government and keep its account books clean as it helps the government to track the economic state of the company.

4. Economic Responsibility

The first and most important responsibility of a business is to be profitable. It is the foundation and base on which all other responsibilities rest. Without profit, the company would not be able to pay their workers, employees will lose their jobs even before the company starts CSR activities.

Being profitable is the only way for a company to be able to survive long term, and benefit society. Additionally, this also means that it is a company’s duty to produce goods and services that are needed/wanted by the customers, at a reasonable price.

Economic responsibility is an interconnected field that focuses to strike a balance between business, environmental, and philanthropic practices.

Performing this responsibility companies try to find out a solution that can facilitate their business growth and generate profits by benefiting the community and society.

SWOT ANALYSIS OF UDAAN

SWOT Analysis is a framework used to evaluate a company’s competitive position and to develop strategic planning. It helps in assessing internal and external factors, as well as current and future potential.

A SWOT analysis is designed to facilitate a realistic, fact-based, data-driven look at the strengths and weaknesses of an organization, initiatives, or within its industry. The organization needs to keep the analysis accurate by avoiding pre-conceived beliefs or gray areas and instead focusing on real-life contexts. Companies should use it as a guide and not necessarily as a prescription.

Meaning of SWOT

Strengths- S stands for Strength. It refers to the areas of expertise or any other unique factor that can act as a asset in growth of an organization and provides with an upper edge over its competitors.

Weaknesses- W stands for Weaknesses. It refers to the drawbacks and areas in which an organization needs to work upon to face the competition in the market.

Opportunities- O stands for Opportunities. It refers to the favorable conditions or occasions that can act beneficial in growth of the organization.

Threats- T stands for Threats. These are the unexpected and unfavorable conditions or occasions that can act as a barrier in growth and working of an organization

Why you need to conduct a personal SWOT analysis | Marriage-Stanley & Associates %

STRENGTHS OF UDAAN

1.Strong Foundation Team:- The founding members of the company already had the required knowledge and experience after working at Flipkart. Due to this, many other Flipkart employees also joined the startup, which helped them in increasing their efficiency and productivity. It enabled the engineers to work on their creativity, which is encouraged at Udaan.

2.Innovative Idea:- The company emerged with a new idea of providing online services to retailers and wholesalers. It provided with a platform for B2B Commerce that can help them in effectively competing with the big retailers and the big branded stores and websites. This helped them to enlarge their customer base.

3.Large and Satisfied Customer Base:- The company has around 1,50,000 sellers on its platform that is increasing each day with increase in downloads and website visits.

WEAKNESS OF UDAAN

1.Unable to manage its Expenses- The expenditures of the company increases with increase in revenue amount but the hike in expenditure is more than the proportion of revenue

2.Supply Chain Issues- The company often struggles in finding potential suppliers to meet the requirements in different geographical areas and deliver the product on time.

3.Requirement of Internet- There are still some areas that don’t have internet facility. These people stay deprived acting as a barrier in covering all geographical areas.

OPPORTUNITIES FOR UDAAN

1.B2C – The company should develop a platform that deals B2C i.e. Business to Customers along with its current department. This will help in increasing the customer base and revenue sources of the organisation.

2.Management Consulting- The company should consult a consultant. This will help the company to manage their resources in a better manner.

3.Setting up of Outlets- The company is currently dealing through online platform. Investing in setting up offline outlets in different geographic area can help in boosting customer base.

THREATS FOR UDAAN

1.Cost:- In an ecosystem where company has to face a lot of competition to survive in the market. Many a times the company has to offer its products and services at a higher price as compared to market due to high amount of cost incurred in the process that can compel its customers to switch to another company.

2.Economic Factors:- The company has invested a handsome amount of money as capital. A small change in economic factors can have a huge impact on the company.

3.Decreasing Profits:- The company though increasing its revenue each year is not able to boost the profits too. The profits are decreasing each year which is a major threat and needs a quick action.

UDAAN: A LEADING B2B STARTUP

Udaan is a Private start-up run by Hiveloop Technology Pvt. Ltd based in Bengaluru that was able to secure its space in unicorn club i.e. a Privately Held start-up valued at $1 billion or more. It is a B2B i.e. a Business to Business marketplace.

It was founded in 2017 after analyzing the market by using Beta App that was launched in November 2016 by Former Flipkart employees Amod Malviya, Sujeet Kumar and Vaibhav Gupta.

While Malviya was Chief Technology Officer at Flipkart, Kumar was the Senior Operations Executive and Gupta was Senior Vice-President of Business Finance and Analytics Department at Flipkart.

Udaan is a B2B marketplace which connects traders, wholesalers, retailers and manufacturers on a single platform via a mobile app.

Udaan helps businesses discover customers, suppliers and products across categories and connect them in order to get the best deal. The platform also facilitates secure payments and gives logistics support.

There are around 1,50,000 sellers on Udaan platform across India offering products such as apparels, electronics, staples and fast-moving consumer goods (FMCG) to wholesale buyers.

Udaan has so far secured a total funding amount of $ 1.2 Billion over 6 rounds.

Its first capital infusion came in November 2016, when it raised $10 million from Lightspeed Venture Partners.

Their latest funding was raised on Jan 6, 2021 from a Series D round.

The start-up offers an employment to more than 5,000 employees working as a valuable asset for the organisation.

The organisation was able to achieve 6,286 downloads in last 30 days showcasing the success path.

It has 8,16,978 website visitors in last 30 days including visitors from India and abroad.

startups: 5 startup trends to watch-out for in 2020 - The Economic Times

STARTUP: A NEED OF HOUR

A startup is a young company founded by one or more entrepreneurs to develop a unique product or service, bring it to market and make it irresistible and irreplaceable for customers.

Startups are rooted in innovation, addressing the deficiencies of existing products or creating entirely new categories of goods and services, thereby disrupting entrenched ways of thinking and doing business for entire industries.

FACTORS THAT BOOST THE SUCCESS OF A STARTUP

•Expertise of Founder in Domain– An organisation is an artificial person and the founder is the one who determines whether it will survive or not. The founder needs to ensure that he/she has acquired adequate skills and knowledge about the domain and should not just step into it without any prior experience in the specific field. The more experience is held by its founder, more are the chances of its success.

•Passionate and Supporting Team– An organisation needs support of its members. A leader or a manager is nothing without his/her followers or sub-ordinates respectively. They need the support to create wonders. If an organisation is able to find such passionate and supporting employees, then the startup will definitely be able to crate a goodwill in no time.

•Committed and Hard Working Employees– Employee is that asset of an organisation that converts other assets into money. Capital is of use without Human Capital. Committed and Hard working employees don’t work for money but work for the belonging towards organisation. They give their best for success of organisation.

•Innovation– A market where the demand and requirements of consumers changes drastically, a new business needs to bring something new and out of the box that leaves a favorable impact on mind of customers to create a customer base.

•Not letting go even a small opportunity of Growth– A new organisation should grab each opportunity to show its uniqueness. Every opportunity have only two results either success or a learning that can act as a base for future success.

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