Redefining Management

Management Quotes

Monday 19 December 2011

"Focus on where you want to go, not on what you Fear"

Posted by MBA BFCMT at 22:13

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About Me

MBA BFCMT: Baba Farid College of Management & Technology established in 2008 is managed by Baba Farid Vidyak Society which was founded in 1993 under the patronage of prominent educationists of Malwa region of Punjab State. The society aims at providing quality education at affordable fee along with preparing the young minds to face the competitive world on all fronts. We aim to serve the student community with academic excellence and professional inputs enabling them to serve the society and the nation in a better way. The college focuses on identifying the young ones with professional and entrepreneurial aspirations and to turn them into value driven business leaders. Besides the college is committed to infuse in them action orientation and the values of hard work, self- discipline, commitment, responsibility and accountability.

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THE ECONOMICS DICTIONARY

Ability to Pay
The principle by which people shold be taxed according to the level of their incomes. People need a minimum income to cover the basic costs of food, clothing and shelter. So people on very low incomes are usually not taxed directly, i.e. by income tax. This principle is reflected in the personal alowance, which is not taxed. In another context, ability to pay is used as a basis for deciding whether people have access to benefits in kind, such as free school meals or certain social services.

Backward Integration
It is the extension of the firm's activities to include production of inputs which were previously bought in from outside.

Capital Gain
The increase in the value of an asset between its purchase and a subsequent sale or revaluation. The term applies mostly to shares or to houses and other property.

Ride Your Hobby Horse

Hi! Friends,

Hobby is the best way to pass your time fruitfully. It involves endless learning. In this section of the blog, you will be provided a brief information weekly on different hobbies that will help you to develop a hobby according to your interest.

Hobby Of the Week

PHILATELY

Philately is the study and collection of stamps and other postal items. It is a delightful hobby that involves lots of knowledge enhancement. Here are some important points on this hobby.

>> You can collect both new as well as used stamps.

>> Used stamps can be collected from postal letters and envelops. You can detach the used stamps from the postal articles by rinsing them in a shallow dish of water using your hands or a soft brush and carefully drying them in a dark place.

>> New stamps can be obtained from the post office by direct purchase or by getting a philatelic account opened in a local General Post Office.

>> New and Used stamps can also be purchased from the internet websites such as Ebay.

>> You can exchange the duplicate stamps with your friends in return of the stamps that you do not have. This will help in widening your collection.

>> You can store your stamps in a stock book / album that is available in the post office or you can purchase it from the market.

Hope this information is sufficient for starting this interesting hobby. If you wish to seek more information in this regard, please leave a comment on the blog.

Thank You

Leisure Time - Recommended books to be read

The Seven Habits of Highly Effective People by Stephen R. Covey
The Monk Who Sold His Ferrari by Chetan Bhagat
The Alchemist by Paulo Coelho
The 8th Habit: From Effectiveness to Greatness by Stephen R. Covey

Five Tips on Self Management

Look at every opportunity as an exciting and new life experience.

Be a professional who exhibits self - confidence and self - assurance in your potential to complete any task.

Practice your personal beliefs. It may be helpful each morning to take 15 minutes to gtaher your thoughts and say a prayer.

Believe that you can be what you wnat to be.

Challenge yourself to do things differently than you have in the past. It provides new ideas and keeps you interested.

FACT FILE FROM BBC KNOWLEDGE

How can we be sure that medical body scans are safe?

It depends on the type of scan. For instance, X - ray scans expose the body to radiation. While that might seem alarming, we are all exposed to natural X - ray radiation in the environment anyway. The average chest X - ray yields the equivalent of just a few days of natural radiation sickness. The increased cancer risk is minuscule too - about one in a million. Computerised Tonography (CT) scans involve multiple X - rays and therefore have a slightly higher risk, but this is still negligible, especially given the diagnostic benefits. Magnetic Resonance Imaging (MRI) does not use ionising radiation at all and is almost 100 percent safe.

Is there an opposite to a microwave that can cool food instantly?

Temperature is a measure of the average speed of the molecules in a substance. When you heat something in a microwave oven, the electromagnetic radiation stimulates the molecules to move faster and the food gets hotter. Just as adding electromagnetic radiation to a body will cause it to become hotter, so hot objects will emit electromagnetic radiation as they cool - mostly as infrared. In a sense, this is a 'reverse microwave', but the problem is that you cannot 'suck' radiation out of something any faster than normal. The rate at which a body radiates energy depends on what it is made of, its surface and how cool it is. There is not magic you can add that will influence this.

VITAL STATISTICS

>> 19000 pieces of space junk larger than 10 cm (4 inches) across are regularly monitored by the US Air Force.

>> It took 51 years to develop a disk drive with a Terabyte (1 TB) of memory.

>> 406.62 Km/h (252.6 mph) is the highest speed reached by a conventional motorcycle.

>> China invested $ 34.6 Billion in renewable energy technologies in 2009.

Get Trapped in the Web - Recommended Websites

Encyclopaedia Britannica
Management Paradise
Reserve Bank of India
The Economic Times
The Hindu

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