Business Studies Cib

8/3/2019 Business Studies Cib

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Dis-investments:

• Dis investments means transfer of a partof the ownership of a public sectorenterprise.

• In other words it means the disposing of orsale of a part of the equity holdings of theGovernment in the public sector enterpriseto the private sector enterprise to theprivate entrepreneurs with a view toprivatizing that public sector enterprise.



ISI/ISO/BIS

• ISI: The Indian Standards institution was established in 1947 bythe central &state government and industry for developingIndian standard specifications for the manufactured productsof the country.

• The main objectives are:

• Preparation of standards relating to products commodities,materials and processes.

• Certification of industrial products.

• Promotion of general standards at national & internationallevels.

• Circulation of information relating to standards &standardization.



• ISO: International standards organization it is aninternational organization setup for developing andmaintaining international standards of quality for goods.

• Objectives of ISO:

•

Development of International standards of quality forgoods.

• Maintenance of those international standards of quality



• BIS: Bureau of standards Act 1986. provided for theestablishment of BIS after the establishment of the BIS the

Indian standard institution (ISI) was merged with the BIS and allthe activities of the ISI were taken over by the BIS.

• BIS prescribes standards and keeps control over the quality of

goods. it under taken following functions.• To establish and promote Indian standards for products.

• To recognize the standards established by any other institutionin India or outside India.

• To grant, renew, suspend or cancel the certification mark.

• To specify a standard by issuing BIS certification mark.• To under go research for the formation of Indian standards.



Differences between ISO & ISI



Quality Circles : A quality circles is a small group of employees of a concern whovoluntarily meet regularly to identify, analysis, and solve work related problemslike quality, productivity, cost reduction, safety and other problems, in their workarea for the mutual benefit of the employees and organization.

Objectives of Quality circles:

1. To reduce mistakes and to enhance the quality and productivity of the work.

2. To effect cost reduction

3. To develop greater safety awareness

4. To ensure more effective team work

5. To promote job involvement and participation.

6. Promote leadership & development to improve communication with in theorganization.

7. To develop harmonious relationship between the manager and the workers.



ATM: Automated Teller Machine popularly called any time money in installed inimportant commercial banks to provide various facilities to customers throughcredit card.

ATM is a computerized telecommunication device that provides the clients toaccess financial transactions in a public space without the need for a cashier.

The various facilities or advantages provided by ATM are:

1. Cash withdrawals2. Cash Deposits3. Balance enquiry or Checking the balance in the bank account.4. Request for statement of account5. Cheque book request6. Change of personal identification number(PIN)

7. Transfer OF funds from one account to another account8. Other facilities like bills payments.



Plastic Money(DEBIT CARD & CREDIT CARD)Plastic

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