The Companies Act of 1956 sets down rules for the establishment of both public and private companies. The most commonly used corporate form is the limited company, unlimited companies being relatively uncommon. A company is formed by registering the memorandum and articles of association with the State Registrar of Companies of the state in which the main office is to be located.
Foreign companies engaged in manufacturing and trading activities abroad are permitted by the Reserve Bank of India to open branch offices in India for the purpose of carrying on the following activities in India:
-To represent the parent company or other foreign companies in various matters in India, for example, acting as buying/selling agents in India, etc.
-To conduct the research work in which the parent company is engaged provided the results of the research work are made available to Indian companies;
-To undertake export and import trading activities;
-To promote possible technical and financial collaboration between Indian companies and overseas companies.
Application for permission to open a branch, a project office or liason office is made via the Reserve Bank of India by submitting form FNC-5 to the Controller, Foreign Investment and Technology Transfer Section of the Reserve Bank of India. For opening a project or site office, application may be made on Form FNC-10 to the regional offices of the Reserve Bank of India.
A foreign investor need not have a local partner, whether or not the foreigner wants to hold full equity of the company. The portion of the equity thus not held by the foreign invest can be offered to then public.
Saturday, December 19, 2009
Saturday, December 5, 2009
SPANCO Process
Selling is an art of good customer relationship and influencing the customer to buy or avail a service based on his/her requirement. It has to be combined with the necessary factors for success, motivation, incentives, training, etc. not forgetting the methodology. They are many processes in sales, I would like to share the one I learnt from my seniors at work .They follow a process which tells everything about sales and how it works on.
“SPANCO” stands for:
•Suspect - Definition of the target
•Prospect - Identification of the lead
•Approach - Analysis Evaluation and qualification of requirements, identification of the solution
•Negotiation - Negotiation process
•Closing - Finalization of the order
•Order Ongoing - Account follow-up (up and cross-selling, etc.) Order management and sales monitoring
SPANCO enables organizations to display sales figures with KPI's (Key Performance Indicator as well as to generate, manage and convert leads into customers. Areas of difficulty which may arise in terms of the various phases will be clearly highlighted, so that corrective action will be all the more effective and thus improve the performance of your sales department.
Following this method will help sales people to bring more sales to their company and improve their sales skills. Many organizations insist on this method to their sales people to increase sales. My organization follows this method and found very useful in bringing more customers and sharping the sales skills of the employees.
“SPANCO” stands for:
•Suspect - Definition of the target
•Prospect - Identification of the lead
•Approach - Analysis Evaluation and qualification of requirements, identification of the solution
•Negotiation - Negotiation process
•Closing - Finalization of the order
•Order Ongoing - Account follow-up (up and cross-selling, etc.) Order management and sales monitoring
SPANCO enables organizations to display sales figures with KPI's (Key Performance Indicator as well as to generate, manage and convert leads into customers. Areas of difficulty which may arise in terms of the various phases will be clearly highlighted, so that corrective action will be all the more effective and thus improve the performance of your sales department.
Following this method will help sales people to bring more sales to their company and improve their sales skills. Many organizations insist on this method to their sales people to increase sales. My organization follows this method and found very useful in bringing more customers and sharping the sales skills of the employees.
Sunday, November 22, 2009
Education System in India
The availability of skilled manpower to sustain the explosive growth appears to one of the key challenges at present situation. The skill set that is being developed by the current education system in India is considered inadequate. The educational system in India does not teach practical aspects of how to do work and stuff like that. It is very bookish.
We develop people who do not have ability to imagine who do not have ability to create a big picture in their mind and then try to figure out where they fit in. We also do not create people who are more globally oriented. We create people who are more locally oriented, who do not seem to have the framework of working in a global environment.
My views to create a skilled workforce are follows,
-A standardized national curriculum
-No discrimination whatsoever of any kind in schools and colleges.
-Compulsory and universal free education for all children in the age group of six to 14
-Necessary number of schools must be built in all communities
-Private schools must reserve 25% percent of their seats for the disadvantaged
-Norms and standards for all schools (Government and private) including teacher qualifications, which out which no schools will be recognized
-Exposure to practical knowledge than full of theoretical knowledge.
-Public, Private organizations and Government should join hands to prevent childlabour and create a healthy workforce in India.
We develop people who do not have ability to imagine who do not have ability to create a big picture in their mind and then try to figure out where they fit in. We also do not create people who are more globally oriented. We create people who are more locally oriented, who do not seem to have the framework of working in a global environment.
My views to create a skilled workforce are follows,
-A standardized national curriculum
-No discrimination whatsoever of any kind in schools and colleges.
-Compulsory and universal free education for all children in the age group of six to 14
-Necessary number of schools must be built in all communities
-Private schools must reserve 25% percent of their seats for the disadvantaged
-Norms and standards for all schools (Government and private) including teacher qualifications, which out which no schools will be recognized
-Exposure to practical knowledge than full of theoretical knowledge.
-Public, Private organizations and Government should join hands to prevent childlabour and create a healthy workforce in India.
Tuesday, November 17, 2009
Recruitment Process Outsourcing (RPO)
RPO is a specialized service that allows clients to outsource some or all of the recruitment function. An RPO provider leverages the combination of strategy, technology, resources and vendor management to improve the recruitment process.
Operating as the client’s internal recruitment function and strategic partner, the RPO provider will work closely with the client to improve the recruitment efficiencies of quality of hire, speed of delivery and cost containment. Improvements measured and monitored through real-time metrics are then tied to strict service level agreements.
The client’s goal is to select a world-class RPO partner that continuously recognizes and delivers best practices to tactically elevate the client company's internal processes and to promote the company as an employer of choice.
Benefits of RPO
In general, companies do not determine the true costs of hiring, which should include the overhead costs of the recruiter, time spent interviewing, the productivity lost while the position is vacant and similar factors. An RPO provider can collect, refine and analyze a broad set of information that most companies either have not considered, or do not have the tools required to adequately assess and utilize.
This analysis is then used as the foundation on which to build a customized outsource model. Effective talent management requires the coordination of multiple data points, which are often maintained in separate areas of the business are geographically inconsistent and difficult, if not impossible, to quickly access.
An RPO Provider's talent management platform can respond to these challenges by combining all critical talent management functions in an integrated, Web-based process. This automates the talent management lifecycle, provides real-time data and Statistics as well as workforce planning information to better meet the needs of a changing business.
In addition, an RPO provider can offer a client a market analysis that evaluates its overall competitiveness, compensation scales and other factors such as the strength of its brand relative to other industry employers.
Operating as the client’s internal recruitment function and strategic partner, the RPO provider will work closely with the client to improve the recruitment efficiencies of quality of hire, speed of delivery and cost containment. Improvements measured and monitored through real-time metrics are then tied to strict service level agreements.
The client’s goal is to select a world-class RPO partner that continuously recognizes and delivers best practices to tactically elevate the client company's internal processes and to promote the company as an employer of choice.
Benefits of RPO
In general, companies do not determine the true costs of hiring, which should include the overhead costs of the recruiter, time spent interviewing, the productivity lost while the position is vacant and similar factors. An RPO provider can collect, refine and analyze a broad set of information that most companies either have not considered, or do not have the tools required to adequately assess and utilize.
This analysis is then used as the foundation on which to build a customized outsource model. Effective talent management requires the coordination of multiple data points, which are often maintained in separate areas of the business are geographically inconsistent and difficult, if not impossible, to quickly access.
An RPO Provider's talent management platform can respond to these challenges by combining all critical talent management functions in an integrated, Web-based process. This automates the talent management lifecycle, provides real-time data and Statistics as well as workforce planning information to better meet the needs of a changing business.
In addition, an RPO provider can offer a client a market analysis that evaluates its overall competitiveness, compensation scales and other factors such as the strength of its brand relative to other industry employers.
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