Organization

Organizations are the inventive social arrangements of our age and of civilization. It is a marvel to know that ten of thousand of people with highly individualized backgrounds, skill and interest are coordinated in various enterprises to pursue common instituionalized goals.

Legal Environment of Business

Every Business is surrounding by somemakes regulations and correct decisions. Some regulations are framed to help the determination of limitation of business. It is decided as to what can be done under it and what not. Some makes are the benefits of workers and customers, while some others are for the safeguards of business or trade agreements. Thus business regulations appear necessary for smooth running of business.

Price Mechanism and Government Directive

The allocation of economic resouces  different industries and trading in the private sector is allowed to be made through in the private sector is allowed to be made through the operation of the price mechanism. All decision regarding investment, output , and policies are allowed to be made by the price mechanism so for as the private sector is concerned.

So far as public sector concerned, all decisions with regard to investment, output and pricing, etc, are made by the control economic  authority or the planning commsion which is invested with full powers to manage, control and run production within the public sector.

Investment Banking

This is highly specialized work to deal in investment and the poor investor lack knowledge usually are guided investment banking in this field. They specialized in the marketing of new issues of stock and bonds. They sell these stocks and bonds to general public or institution. Usually investment  banks underwrite a coporations's new security issues. They in the capacity of securities and bonds guarantee the sale of the company's securities and deliver a cheque to it for these new securities. They make their profit by charging a commission. The securities of investment banks are useful not only to the company or the promoters but also to the investors.

Piece Rate Wage System

Piece wages method may be individual piece wage method or group piece work method. The former is particularly applicable ro repetitive work and the work due by each man can be wasily measured, operations performed by individuals and products/ standard by them can easily be inspected, counted and credited after each operations

Advantages:

1. The division of daily wage by the average daily production for ascertaining the cost per unit is a simple matter.
2. Varying efficiency of the worker is recognized. The efficient workers get more wgaes as compared with their less efficient fellow workers.
3. The workers are encourged to exert their best energies of work that they can turn out.

Disadvantages:

1. When the employer thinks the workers are earning too much, the rates arbitrarily cut.
2. This system is else regarded as a method of speeding up work without adequate remunerations.
3. The hard work may lead to a reduction of the amount of available employment.