book

Business Environment, 1st Edition by Pearson

Name: Business Environment, 1st Edition by Pearson
Author: A. C. Fernando
ISBN: 9781299446762

by A. C. Fernando

May 2024

Intermediate to advanced

688 pages

51h 31m

English

Pearson India

Read now

Unlock full access

Cover (1/2)
Cover (2/2)
About the Author
Contents (1/3)
Contents (2/3)
Contents (3/3)
Preface
Part I: Fundamental Concepts
Chapter 1: The Functioning of an Economy: Basic Concepts
What is an Economy?Economic ActivityWants: The Basis of All Economic ActivitiesCircular Flow of Economic ActivityReal FlowsMoney Flows
Production
DefinitionConsumers’ Goods and Producers’ GoodsUtility

Goods
Free Goods and Economic GoodsConsumption Goods and Capital GoodsValueWealth
Classes
Wealth and WelfareConsumption
Human Wants
FormationCategoriesCharacteristics
Standard of Living
Factors Affecting the Standard of LivingThe Standard of Living in India
Engel’S Law of Family Expenditure
Scales of PreferencesSavings and Investment
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Chapter 2: National Income
DefinitionsMarshall’s Production-Based DefinitionPigou’s Income-Based Definition
Fisher’s Consumption-Based Definition
Concepts in National-Income AnalysisGross National ProductNet National ProductNational Income At Factor CostPersonal Income
Personal Disposable Income
Per Capita IncomeMeasurement of National IncomeThe Product MethodThe Income-Received MethodThe Consumption–Savings Method
A Comparison of the Three Methods
The Sectoral Composition of National Income
Estimates of the National Income of India
Post-Independence Background
Special Features of the 1980–81 Series
RBI’s Role in National Income AccountingAdvance Estimates and Quick Estimates of National IncomeDifficulties in the Measurement of National Income
National Income Data and the Changing Profile of the Indian Economy
Characteristics of the Indian Economy
The National Statistical Commission
Limitations of National Income Estimation in IndiaDeterminants of the Size of a Country’s National Income
Reasons for India’s Low National Income
Economic CausesPolitical Causes
Social Causes
RemediesNational Income and Economic Welfare
Inequalities of National Income Distribution
Causes
Effects
Capital Formation and Inequalities of IncomeSteps Taken by Governments to Reduce InequalitiesUses of National Income Data
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Chapter 3: Business and Its Environment
Business: Meaning, Characteristics and Objectives
Divisions of Business
Characteristics of Modern BusinessesLarge SizeGlobal ReachOligopolistic StructureBased on TechnologyDiverseGovernment ControlEmerging Ethical Consciousness
Business Environment
The Internal EnvironmentThe External Environment
The Economic Environment
Economic SystemsStructural EquilibriumBanking and Monetary PolicyFiscal PolicyEconomic and Price StabilityMoney and Capital MarketFactor EndowmentsSize of the MarketSocial Overhead CapitalIncome Distribution and Purchasing PowerExternal Trade/International Environment
The Non-Economic Environment
The Socio-Cultural EnvironmentThe Educational EnvironmentThe Politico-Legal Environment
The Demographic Environment
Summary
Notes
Key Words
Discussion QuestionsSuggested Readings
Chapter 4: Natural Resources
IntroductionLand ResourcesIrrigation
Power
Eco-Efficiency Strategy of Power GridHydropower and Sustainable Development
Forest Resources
Forest and Wildlife ConservationForest Cover
Fresh Water Resources
Minerals
Coal Mining
Iron OreManganese OreBauxiteCopper, Lead and ZincSea WealthSummary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Chapter 5: The Technological Environment
What is Technology?Technology and DevelopmentThe Contribution of Technology
Managing Technology for Development
Integrating Technology with Business
Technology in Developing Countries
Technology Acquisition and ProtectionTechnology TransferThe Need for Technology Transfer
Forms of Technology Transfer
Innovations
Varying Research and Development Budgets
Technical Cooperation and India’s Capabilities
India and the Global Knowledge Market
Summary
Notes
Key Words
Discussion QuestionsSuggested Readings
Chapter 6: Human Resource Development
EvolutionWhat is Human Resource Development?
Human Capital
Human Resource Development in IndiaFunctions
Human Development Index
Summary
Notes
Key Words
Discussion QuestionsSuggested Readings
Chapter 7: India's Population and Its Impact on the Economy
The Economic Effects of a Growing Population
The Economic Effects of a Declining Population
Factors Responsible for Changes in the Size of Population
Birth Rate
Death Rate
Theories of PopulationThe Malthusian Theory of PopulationThe Optimum Theory of PopulationThe Theory of Demographic Transition
Excessive Population as an Obstruction to Growth
Features of the Indian Population
India’s Population Policy
The Population Policy, 1976Progress Under the Policy
The National Population Policy, 2000
Trends in Population and Family Welfare Programme
The Scorecard
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Chapter 8: Capital Formation, Savings and Investment
What Comprises Capital?Capital FormationGrowth in Capital FormationSources of Capital FormationCapital Formation in India
Capital Accumulation
Factors Affecting Capital AccumulationCapital Accumulation in Developing Countries
Savings
Sources of SavingsDomestic Savings in India (1951–2008)
Investment
Rate of Investment and Capital Formation
Reasons for the Low Level of Investment in India
Investment CommissionSummary
Notes
Key Words
Discussion QuestionsSuggested Readings
Part II: Economic Systems and Policies Relating to Business
Chapter 9: Economic System and Capitalism
What is an Economic System?CapitalismPrivate PropertyConsumer SovereigntyFreedom of EnterpriseEnlightened Self-InterestProfit MotiveCompetitionExistence of Markets and PricesAbsence of a Central PlanLimited GovernmentActive EntrepreneurshipClass ConflictUse of Advanced TechnologySpecialization Based on Division of Labour
Extensive Use of Money
MeritsAutomatic FunctioningGreater Efficiency and Incentive for Hard WorkHigher Rate of Capital Formation and GrowthEconomic Development and ProsperityOptimum Utilization of Resources
A Just System of Reward and Penalty
Democratic SystemAdaptabilityEncouragement to Enterprise and Risk TakingDemeritsExcessively MaterialisticNot as Productive as Other Economic SystemsGives Rise to Class ConflictSocial Injustice and Economic InequalityIgnores Human WelfarePeriodic Economic Instability and UnemploymentPrecedence of Property Rights Over Human RightsEmergence of MonopoliesMisallocation of Resources
Malpractices
SummaryNotes
Key Words
Discussion QuestionsSuggested Readings
Chapter 10: Socialism
What is Socialism?Features
Merits
Demerits
Summary
NotesKey Words
Discussion Questions
Suggested Readings
Chapter 11: Mixed Economy
Mixed Economy and Its Types
Features of the Indian Mixed Economy
Coexistence of Private and Public SectorsNationalization of Basic IndustriesReduction of Inequalities of IncomeProvision of Social Welfare MeasuresPromotion of Economic Development Through Planned EffortsResource Allocation Through the Price System and Government DirectionsGovernment Control and Regulation of the Private SectorConsumer Sovereignty is Protected, but Government Controls Production, Consumption and Distribution
Government is Committed to the Promotion of Public Welfare and Protection of Labour, the Poor and the Marginalized
Control of MonopolyPrices are Determined by Market Forces, but Products of Public Sector are Governed by Administered PricesAdvantages of India’s Mixed EconomyAchievement of Faster Economic GrowthBest Allocation of ResourcesBalance Between the Private and Public SectorsThe Establishment of a Welfare State
Heavy Capital Investment Through Planned Effort
DisadvantagesUndue Emphasis on the Growth of Public SectorInefficiency of Both the SectorsIneffective Control of the Private SectorEconomic Fluctuations
Failure to Solve Demographic and Unemployment Problems and Inflation
Extensive and Corrupt BureaucracyConclusionSummary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Chapter 12: The Role of Public Policies in Governing Business
Public Policy: A Definition
Classification
Levels
Elements
Public Policies and the Government
Limitations of Governments in Executing Public Policy
Need for Public Policies in Business
The Involvement of Business in Public Policy Decision MakingBusiness and Politics: Levels of Involvement
National Economic Growth
Government Regulations in Business
Public Policies and Government Regulations in India
Functional Regulations
Summary
NotesKey Words
Discussion Questions
Suggested Readings
Chapter 13: Economic, Monetary and Fiscal Policies
Economic PolicyObjectives of Economic Policies
Monetary Policy
EvolutionGoals and ObjectivesFunctionsMonetary Versus Fiscal PolicyThe Instruments of Monetary Policy
Monetary Policy in Developing Countries
The Indian Monetary PolicyInstruments of the Indian Monetary PolicyThe Evaluation of the Indian Monetary Policy
Fiscal Policy
ObjectivesInstrumentsFiscal Policy and Economic Stabilization
The Evaluation of Fiscal Policy
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 14: Foreing Trade Policy
Statement of Trade PolicyObjectives of India’s Foreign Trade PolicyStrategies Adopted in India’s foreign Trade Policy
Partnership with Private Players
Roadmap of the Trade PolicyInterim Foreign Trade Policy, 2009–10
Foreign Trade Policy, 2009–14
Highlights of the Foreign Trade Policy, 2009–14
Industries’ Reaction
Summary
Notes
Key Words
Discussion Questions
Suggested Readings
Part III: The Economics of Development
Chapter 15: The Economics of Development
The Subject and Its Spectrum
Why Economic Development?
What is Economic Development?
Basic Determinants
Criteria
Costs and Gains
CostsGains
Summary
NotesKey Words
Discussion Questions
Suggested Readings
Chapter 16: The Economics of Underdevelopment
The Definition of UnderdevelopmentThe Definition of an Underdeveloped Economy
Underdeveloped or Developing?
Non-Uniformity of Underdevelopment
Characteristics of an Underdeveloped Economy (1/2)
Low Per Capita Income and Widespread PovertyExcessive Dependence on AgricultureUnexploited Natural ResourcesPrimary-Producing Agricultural EconomiesPopulation ExplosionQualitatively Backward PopulationDisguised UnemploymentPrevalence of Unemployment and Underemployment
Characteristics of an Underdeveloped Economy (2/2)
Deficiency and Poor Capital FormationInadequate Development of InfrastructureDependence on ExportsDisparate DevelopmentFactor DisequilibriumPoor and Incompetent Administration
Underdeveloped and Uncoordinated Fiscal and Monetary Organizations
Existence of Inhibitory Social InstitutionsThe Obstacles to Development (1/2)PovertyCapital DeficiencyMarket ImperfectionsInternational ForcesForeign RuleInhibiting Socio-Cultural InstitutionsDemonstration Effect
The Obstacles to Development (2/2)
OverpopulationCorruption
Summary
Notes
Key Words
Discussion Questions
Suggested Readings
Chapter 17 Stages and Strategies of Economic Growth
Stages of Economic GrowthRostow’s Stages of Economic GrowthTraditional SocietyThe Pre-Conditions for Take-OffThe Take-OffThe Drive to Maturity
The Age of High Mass Consumption
Beyond High Mass ConsumptionObjections to the Take-Off TheoryBalanced Versus Unbalanced Growth
The Balanced Growth Theory
The Meaning of Balanced GrowthCritical Minimum Effort and the Big PushThe Basic PostulatesThe Balanced Growth Doctrine: Rodan’s AnalysisNurkse’s AnalysisBalanced Growth: Other ViewpointsHow to Realize Balanced Growth?The Role of the StateCriticism of the Theory
The Unbalanced Growth Theory
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Chapter 18: Role of the State in Economic Development
Defects of the Free-Enterprise SystemThe Evolution of the Concept of State Participation in Economic Development
The Justification and Examples of Government Intervention
The Rationale for State Interventon in Economic Affairs
The Scope of Governmental Action
Roles of the GovernmentRegulatorPromoter
Entrepreneur
PlannerThe Extent of Government’s ParticipationReasons for Governments’ Participation in Development in Poor CountriesAreas Where Governmental Action is Vital
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Chapter 19: Economic Planning: Meaning, Evolution and Features
Meaning and DefinitionEvolution
Factors that Facilitate Successful Planning in Developing Countries
Objectives
Key Features of a Planned Economy
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 20: Industrial and Licensing Policy (1951–1991)
Industrial Development in IndiaWhat is an Industrial Policy?
Components
ImportanceThe Industrial Policy Resolution of 1948
The Industrial Policy Resolution of 1956
The Industrial Policy of 1973
The Industrial Policy of 1977
The Industrial Policy of 1980
Important ProvisionsAmendments in Appendix I
The New Industrial Policy of 1991
Industrial LicensingForeign InvestmentForeign Technology AgreementsPublic SectorThe Monopolies and Restrictive Trade Practices (MRTP) Act
Reforms in the Industrial Sector
Industrial LicensingIndustries CoveredIndustries ExemptedHow to Apply for a Licence?RegistrationSpecial Procedure for DiversificationMRTP Clearance
Summary
Key Words
Discussion QuestionsSuggested Readings
Chapter 21: The New Economic Policy, 1991
GenesissBackgroundEarly Crisis Management Measures: Trendsetters of the Reform Process
The Three Pillars of Economic Reforms
LiberalizationPrivatizationGlobalization
Industry and Labour Strategy
Assessment of the New Economic PolicyA Balance Sheet of Economic Reforms
The Emergence of Corporate Governance
Summary
Key Words
Discussion Questions
Suggested Readings
Chapter 22: The Indian Economy
A Retrospective on the Indian EconomyThe 1950SThe 1960SThe 1970SThe 1990S
The New Millennium
Agricultural and Rural Development
Industrial Production and Manufacturing
Nfrastructure
The Services Sector
The Financial Services Sector
Savings and Investment
The Price SituationIndia’S National and Per Capita Income
Income Distribution and Poverty
The External Sector
Summary
Notes
Key Words
Discussion QuestionsSuggested Readings
Part IV: Business and Society
Chapter 23: Business and Society
Business: An Integral Part of SocietySociety, Values and InstitutionsThe Interrelationship Between Business and Society
Business–Society Interaction
The Stakeholder Model of Business
Primary and Secondary StakeholdersThe Concept
Criticisms of the Concept
Socio-Economic Objectives of Business
Benefits of Business to Society
Problems Created by Businesses
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 24: Business, Labour and Government
Labour: Definition and Characteristics
Labour Exploitation
Protection of Employees’ Interests
Trade Unions
Rights of Recognized Trade UnionsIndian Trade UnionsDefects of Indian Trade Unions
Management Concerns
Post-Independence Labour Legislation in IndiaImportant LegislationsThe Industrial Disputes Act, 1947Problems with Indian Labour Laws
Summary
Notes
Key Words
Discussion QuestionsSuggested Readings
Chapter 25: Consumer Protection
The Rise of Consumer Protection
The Government’s Role
Consumer Duties and Responsibilities
Consumer Protection in India
The Current Scenario
Legal Protection to Consumers
The Consumer Protection Act, 1986The Consumer Protection (Amendment) Act, 2002The Prevention of Food Adulteration Act, 1954
Institutional Arrangements Under Copra
The Three-Tier Redressal System in IndiaThe District Forum
The National Commission
Quality Standards
The Bureau of Indian Standards
Standards of Weights and MeasuresVoluntary OrganizationsConsumer Associations or CouncilsConsumer Cooperatives
Coordination At the National Level
Other InitiativesNational AwardsPublicity MeasuresThe Customer Service Department At RBI
Summary
Notes
Key WordsSuggested Readings
Chapter 26: Investor Protection
Shareholders’ Rights and ResponsibilitiesA ShareholderRights and Postal Ballots
A Guide for Investors and Shareholders
Rights of a Shareholder as an IndividualRights of a Debenture HolderShareholders’ ResponsibilitiesTrading of SecuritiesTransfer of Securities
Depository and Dematerialization
Grievance RedressalInvestor ProtectionDefinitionThe Need
Rights to Information and Other Rights
The Impact of Investor ProtectionOwnership and Control of Firms
Development of Financial Markets
Investor Protection in India
Shareholder Protection in India
The N.K. Mitra Committee on Investor ProtectionProblems of Investors in India
Law Enforcement for Investor Protection
Grievance Redressal MechanismsLacunae in Investor ProtectionSEBI’s Performance: A Report Card
Summary
Notes
Key WordsSuggested Readings
Chapter 27: Environmental Protection
The History of Environmentalism
Preserving the Environment: The Role of Stakeholders
Public OpinionMediaCorporations
Government
Costs and Benefits of Environmental RegulationTrade and the Environment
Industrial Pollution
India’s Toxic CorridorEvidence of PollutantsRole of Corporations
Improving Corporate Environmental Performance
Waste Management and Pollution ControlPreventing PollutionPreventing Industrial PollutionInnovative Business PracticesEnvironmental Audit
Managing Environmental Issues
Improving Corporate Environmental PerformanceProduct DifferentiationSelf-Regulation
Government Regulation
Process InnovationsRedefining MarketsEnvironmental Risk Management
Environmental Management in India
Charter for Voluntary Pollution Control
India’s Environment Policy
Laws Governing EnvironmentThe National Environmental Policy, 2004
Deficiencies in the Draft Policy
Latest Developments in India’S Environment PolicyCorporate India Gets Eco-Friendly
Private Sector Initiatives
Public Sector EffortsFuture Outlook on EnvironmentSummary
Notes
Key Words
Discussion QuestionsSuggested Readings
Chapter 28: Corporate Governance in India
Definitions
Desiderata
Good Corporate Governance
Obligation to SocietyObligation to InvestorsObligation to EmployeesObligation to CustomersManagerial Obligation
Issues in Corporate Governance
Distinguishing the Roles of Board and ManagementComposition of the Board and Related IssuesSeparation of the Roles of the CEO and ChairpersonShould the Board have Committees?Appointments to the Board and Directors’ Re-ElectionDirectors’ and Executives’ RemunerationDisclosure and Audit
Protection of Shareholder Rights and their Expectations
Dialogue with Institutional ShareholdersMaking a Socially Responsible Corporate-Investor’s RoleNeed for and Importance of Corporate GovernanceGood Governance and Corporate Performance
Investors’ Preference
Significance to Developing CountriesBenefits to Society
Benefits to Corporations
The Indian Model (1/2)HistoryClause 49Establishment of the Serious Fraud OfficeA Performance AppraisalPerformance Appraisal of Indian Corporations
The Indian Model (2/2)
Impetus for the Growth of Corporate Governance in India
Summary
Notes
Key Words
Discussion QuestionsSuggested Readings
Chapter 29: Corporate Social Responsibility in India
Conflicting Perspectives
Emergence
Why Social Responsibility of Business?
Accountability to Society
Debt to SocietyDefinitions
A Growing Global Role
Theoretical Justification for CSRThe Trusteeship Model
The Social Entity Theory
The Pluralistic ModelWhat are Corporates Expected to do?Private Sector Needs the Goodwill of Society
Models for Implementing CSR
CSR as a Business Strategy for Sustainable Development
Assessment of CSR Activity
Inadequate Response to CSR in IndiaAdvantages
Scope
Different Contexts in Which CSR is RelatedProtecting and Promoting Stakeholders’ InterestsSocial Concern and Promotion of Common Welfare ProgrammesAs an Act of PhilanthropyGood Corporate Governance Itself is a Social ResponsibilityCorporates in the Vanguard of Rendering Social ServiceSocial Responsibility is Abiding by Rules and RegulationsSocial Responsibility as the Creation of Wealth
Ensuring Ecological Balance
Human Element FocusImproving ProductivitySponsoring Social and Charitable CausesCorporates Should Supplement State EffortsICC’s Practical Steps to CSR
The Indian Perspective
Changing Attitudes to CSRIndia on the Ethical/CSR Matrix
Social Responsibility and Indian Corporations: A Score Card
The Future of Indian CSR
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 30: Business Ethics in India
Principles of EthicsPersonal EthicsProfessional Ethics
Business Ethics
What is not Business Ethics?
Evolution
Need
Significance
Values and Ethics in Business
The Importance of Values and EthicsValues, Ethics and Business StrategyWhy Should Businesses Act Ethically?
Ethical Decision Making
Ethical Challenges in the Changing Business Environment (1/2)Benefits of Managing Ethics in the WorkplaceCharacteristics of an Ethical OrganizationRecognizing Ethical Organizations
Ethical Challenges in the Changing Business Environment (2/2)
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Part V: Economic Legislations
Chapter 31: The Mrtp and the Competition Acts
The MRTP Act, 1969ObjectivesSalient FeaturesScopePost-Liberalization Relaxations
The 1991 Industrial Policy Takes the Sting Out of the MRTP Act
The Regulation of Competition
Corporate Control in Competition
Constraints in Developing CountriesThe Role of BanksOwnership Concentration
The Benefits of Competition
Competition in the Product MarketCompetition in the Capital MarketEncouraging Good GovernanceCompetition is Only Part of the SolutionEnforcement of Good Governance
Challenges to Good Enforcement
What is a Good Competition Policy?The Competition Act, 2002BackgroundObjectivesThe Competition Commission of IndiaThe Focus Areas of the Competition ActSalient Features of the Competition Commission
MRTP Act and the Competition Act
Implementation
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 32: FERA and FAMA
The Foreign Exchange Regulation Act, 1973ObjectivesRestrictive ProvisionsProvisions Relating to Enforcement, Penalty and ProsecutionDraconian Nature, Content and Reach
The Foreign Exchange Management Act, 1999
ObjectivesAdministrationProvisionsContravention and PenaltiesInvestigationFunctions of the Directorate of EnforcementProcedural Provisions of FEMA
Adjudication and Appeals
Appeals Against Orders Passed Under FERADecision of the Bombay High Court Relating to FERASummary
Notes
Key Words
Discussion Questions
Suggested Readings
Chapter 33: The Industries (Development and Regulation) Act
ObjectivesIDRA’s Implementing AuthorityThe Central Advisory CouncilThe Development CouncilThe Government to Issue LicencesThe Government’s Power to InvestigateThe Government’s Power to Issue Directions
Licensing Under the New Policy
SummaryNotesKey Words
Discussion Questions
Suggested Readings
Part VI: The Industrial Sector
Chapter 34: The Private Sector
The Phenomenal Growth of the Private Sector
Role of the Government
ImportanceIncreased Investment Following Liberalization
Comparative Performance of the Public and the Private Sectors
Sectoral Growth in the Private SectorManufacturingServicesBanking and InsuranceTransportCommunity and Social Services
Private Sector and Socio-Economic Development
Growth of Private Sector Corporate GiantsPrivate Sector Caused the Growth of Modern Industry
Problems Faced by the Private Sector
Lack of Corporate Governance in the Private Sector
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 35: The Public Sector in India
Objectives
Rationale for Its Existence
Growth
Organization
Control
Committee on Public UndertakingsBureau of Public Enterprises
Policies Since 1991
De-ReservationsPolicy Regarding Sick UnitsMemorandum of Understanding
“Navaratnas” Among PSUs
Disinvestment of SharesUnder-Pricing of SharesSquandering Away Assets to Finance DeficitsCentral Public Sector Enterprises
Achievements
Causes of Poor Performance
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Chapter 36: Privatization of Public Sector Enterprises
What is Privatization?The Rationale
Primary Objectives
Other Expected BenefitsMethods of Privatization in India
The Rangarajan Committee
Disinvestment in the Public SectorEstablishment of the National Investment FundThe Disinvestment CommissionThe Department of DisinvestmentThe Method and Mechanism of DisinvestmentStrong Advocacy of Disinvestment in Economic Survey 2009–10
Problems Associated with Disinvestment
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 37: The Joint Sector
The Proponents and Opponents of the Joint SectorThe Tata Memorandum on Industrial GrowthIndustrial Policy Resolution, 1956
The Industrial Licensing Policy Inquiry Committee, 1969
Rationale
Objectives
Forms and Options
Types
The Evolution of Indian JSESJoint Sector with Foreign Collaboration
The Joint Sector: An Evaluation
Summary
Notes
Key WordsSuggested Readings
Chapter 38: Globalization, MNCs and Foreign Capital In India
Factors Facilitating Globalization
MNCs and Globalization
Doing Business in a Diverse World
Multinational Corporations
Issues Relating to MNCs
Advantages of MNCs
Disadvantages of MNCs
Regulation of MNCs
MNCs in India
Foreign Capital
Kinds of Foreign Capital
Distinction Between FDI and FII
Foreign Aid
Response of Foreign Capital
Other Kinds of Foreign Investments
NRI InvestmentsGlobal Depository ReceiptsAmerican Depository Receipts
Foreign Currency Convertible Bonds (FCCB)
India’s Policy Towards Foreign Capital
Establishment of the Investment Commission
Disadvantages of Foreign Capital
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 39: India and Intellectual Property Rights
Intellectual PropertyThe Indian Government’s InitiativesThe Legislative FrameworkThe Indian Patent SystemThe Justice Bakshi Tek Chand Committee
The Justice N. Rajagopala Ayyangar Committee
Patent RulesTrademarksEvolutionRoleTrademarks LegislationsSalient Features of Indian Trademark Act, 1999Registration of TrademarksInfringementOffences and Penalties
Copyright Acts
Other IPRS
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Part VII: Financial Systems
Chapter 40: Money: Functions and Value
EvolutionAnimal MoneyCommodity MoneyMetallic MoneyPaper MoneyCredit Money
Functions
Primary FunctionsSecondary FunctionsContingent FunctionsQualities of Good Money
Systems of Note Issue
Kinds of MoneyLegal TenderStandard Money and Token MoneyGresham’s Law
The Value of Money
MeaningThe Demand for MoneySupply of MoneyCurrencyDemand Deposits
The Changing Value of Money: The Quantity Theory
AssumptionsCriticism
Measuring Changes in the Value of Money: Index Numbers
DefinitionMethod of ConstructionWeighted Index NumbersDifficulties in the ConstructionAdvantagesLimitations
The Changing Value of Money: Inflation and Deflation
InflationDeflationInflation Versus Deflation
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 41: Money Markets
What is a Money Market?Characteristics of Money Market InstrumentsObjectivesMoney Markets Versus Capital Markets
Financial Instruments
Money Market InstrumentsInterbank Call MarketsTreasury BillsCertificates of DepositCommercial PapersRepo Markets
Term Money Markets
Commercial Bill MarketsMoney Market Mutual FundsThe Indian Money Market: Structure
The Indian Money Market: Characteristics
Functions of a Money Market
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 42: Commercial Banking
What is a Commercial Bank?
Functions
Importance
Investment PoliciesLiabilities
Commercial Banking: A Process of Credit Creation
Credit Creation
Technique
Limitations
Indian Commercial Banks: Evolution
Indian Banking Since Nationalization
The Current Situation
Indian Banking: Challenges
Strategic Options to Cope with the Challenges
Summary
NotesKey Words
Discussion Questions
Suggested Readings
Chapter 43: Functions of the Central Bank
Organization and ManagementThe Government’s BankBank of IssueCustodian of National ReservesAs a Banker, Agent and Advisor to the GovernmentMiscellaneous Functions
The Bankers’ Bank
Supervisor of BanksThe Lender of Last ResortThe Custodian of Member Banks’ Cash Reserves
The Bank of Central Clearance, Settlement and Transfers
The Controller of CreditQuantitative WeaponsSelective Credit Control
Summary
Notes
Key Words
Discussion Questions
Suggested Readings
Chapter 44: Financial Institutions
Development BanksMeaningSalient FeaturesThe Need for Financial InstitutionsThe Industrial Finance Corporation of IndiaThe Industrial Credit and Investment Corporation of India
The Industrial Development Bank of India
The Industrial Investment Bank of IndiaThe Small Industries Development Bank of IndiaState Financial CorporationsState Industrial Development CorporationsThe National Small Industries CorporationState Small Industries Development Corporations
Evaluation of the Role of Financial Institutions
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 45: The Indian Capital Market
The Capital Market
Constituents
The Primary MarketThe Secondary Market
Debt Market
NatureDevelopment
Deficiencies
Impact of Globalization
Role of Securities Market in Economic Growth
Regulatory Framework of the Indian Capital Market
Summary
Notes
Key Words
Discussion QuestionsSuggested Readings
Chapter 46: The Indian Stock Market
DefinitionOrigin in India
Organization and Members
Functions
Evolution
Traditional Stock ExchangesNew Types of Stock Exchanges
Growth
What are Sensex and Nifty?Sensex
Nifty
Services Rendered by Stock Exchanges
Listing of Securities
Advantages of ListingRegulations and ControlThe Securities and Exchange Board of India
Summary
Notes
Key Words
Discussion QuestionsSuggested Readings
Chapter 47: The Securities and Exchange Board of India
The Indian Securities Market Before SEBI
The Securities and Exchange Board of India Act, 1992
Objectives and FunctionsPowersOrganizationStrengthening of SEBI
The SEBI (Amendment) Bill, 2002
SEBI’s Role in Promoting Corporate Governance
Performance Record
SEBI’s Role in the New EraPrimary Market ReformsSecondary Market Reforms
Shortcomings
The Dhanuka Committee
Suggestions for SEBI’s Improvement
Summary
Notes
Key WordsDiscussion QuestionsSuggested Readings
Part VIII: The External Sector
Chapter 48: India and the WTO
EmergenceGatt: WTO’s PredecessorThe Formation of UnctadThe Distinction Between WTO and Gatt
Objectives
Core PrinciplesFunctions
Organizational Structure
Ministerial ConferencesThe First Ministerial Conference (Singapore, 1996)The Second Ministerial Conference (Geneva, 1998)The Third Ministerial Conference (Seattle, 1999)The Fourth Ministerial Conference (Doha, 2001)India’s Negotiating the Doha RoundThe Fifth Ministerial Conference (Cancun, 2003)The Sixth Ministerial Conference (Hong Kong, 2005)
The Seventh Ministerial Conference (Geneva, 2009)
The Dispute Settlement MechanismThe Differences Between Gatt and WTO in Settling Disputes
The Performance of DSB in Setting Disputes
WTO AgreementsThe Agreement on AgricultureThe Agreement on Textiles and ClothingThe Agreement on Market AccessThe Agreement on Trade-Related Investment MeasuresThe Agreement on Trade-Related Aspects of Intellectual Property RightsThe General Agreement on Trade in ServicesThe Agreement on Technical Barriers to TradePlurilateral Trade AgreementsThe Agreement on Anti-Dumping
The Trade Policy Review Mechanism
WTO and the MFN Clause
The WTO, the IMF and the World Bank
The WTO and Developing Countries
The WTO and India
Evaluation of the WTO
Implementation IssuesBenefitsCriticisms
Summary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 49: The World Bank Group
GenesisA Brief HistoryFocusFunctions
The World Bank Group
Functions Performed by the World Bank and its AffiliatesThe International Bank for Reconstruction and DevelopmentThe International Development AssociationThe International Finance CorporationThe Multilateral Investment Guarantee AgencyThe International Centre for Settlement of Investment Dispute
Membership in the World Bank
Funding OperationsLoans, Grants and ServicesLoansGrants
Other Services
Lending PoliciesGuiding PrinciplesRecent TrendsSpecial Action ProgrammeBank Loan and Export CreditFuture Lending StrategyFive Essential Factors for Development Identified by World Bank
Comprehensive Development Framework
Poverty Reduction StrategiesThe Millennium Development Goals
IMF–World Bank’s Work: Developed Versus Poor Countries
Criticism
World Bank Support to India
EducationHealthcareEnergy
Infrastructure
AgricultureSummary
Notes
Key WordsDiscussion Questions
Suggested Readings
Chapter 50: The International Monetary Fund
OriginObjectives
Membership
The Members’ QuotaSpecial Drawing Rights (SDR)The Bretton Woods System
Gold Stocks with the IMF
Borrowing Agreements
GovernanceOrganizational StructureBoard of GovernorsMinisterial CommitteesThe Executive BoardThe Bretton Woods SystemThe Collapse of the Bretton Woods SystemThe Impact of the Second Amendment
Structural Adjustment Programmes
Accountability
CriticismsThe India–IMF Relationship
Summary
Notes
Key Words
Discussion Questions
Suggested Readings
Index (1/2)
Index (2/2)

404

Not Found

Either this content does not exist or you do not have access to it. Try searching for something new.

Cloud Computing

Data Engineering

Data Science

AI & ML

Programming Languages

Software Architecture

IT/Ops

Security

Design

Business

Soft Skills

Business Environment, 1st Edition by Pearson

by A. C. Fernando

404

Not Found