Human Resource Management and Market Concepts

These flashcards cover key concepts related to Human Resource Management and Market definitions, catering to preparing for an exam on these topics.

Securities Exchange Board of India (SEBI)

The regulator of capital markets in India, established to protect investors and promote the development of the securities market.

Dematerialization

The process of converting physical shares into electronic form.

Mutual Funds

Investment schemes that pool money from many investors to purchase a diversified portfolio of stocks and bonds.

PAN (Permanent Account Number)

A unique identifier assigned to individuals and entities for tax purposes in India.

Human Resource

The most important element in any organization, focusing on the workforce's quality for successful operations.

Human Resource Management

The branch of management that deals with hiring, motivating, and maintaining the workforce in an organization.

Training

The process of increasing an employee's knowledge and skills to enhance job performance.

On-the-job training

Training given at the workplace, allowing employees to learn while performing their tasks.

Off-the-job training

Training conducted away from the actual work environment, focusing on classroom learning or simulations.

Market

A place where goods and services are traded, involving buyers and sellers for transactions.

Commodity Market

A market where raw or primary products are exchanged, such as agricultural produce or commodities.

Retail Market

A market where goods are sold in small quantities directly to consumers.

Wholesaler

An entity that sells goods in bulk to retailers, rather than directly to consumers.

Perfect Market

A theoretical market structure where competition is ideal, with numerous buyers and sellers, perfect information, and no barriers to entry.

Imperfect Market

A market where competition is not perfect, leading to varied prices and limited information.

Selection Process

The method used to choose the most suitable candidate from a pool of applicants for a position.

Placement

The process of assigning a specific job to an accepted candidate who has been selected.

Recruitment

The process of searching for and encouraging potential candidates to apply for job vacancies.

Employee Turnover

The rate at which employees leave an organization and are replaced.

Job Rotation

A training method that involves periodically moving employees from one job to another to enhance their skills.

Aptitude Test

An assessment used to determine a candidate’s potential to perform a particular job.