Disadvantages of Partnership

The partnership form of organization suffers from certain disadvantages also. These in brief are as follows.

Unlimited Liability

One of the critical defects of partnership is that the partners are individually and mutually answerable for all the debts of the firm. In case, the business suffers losses and the business assets are not adequate to satisfy the claimants, the personal properly of one or more than one partners can be sold under the court order for the clearance of the debts of the business. The rich and wealthy persons, therefore, avoid enlisting in partnership.         

Limited life of Firm

The period of the partnership is always unsure. If any partner dies, wounded, withdraw, sells his interest, or a new partner is admitted into the business, the old partnership may come to an end. There are every potential of the dissolution of the firm due to internal differences.

Frozen Investment

It is very easy for a partner to invest money but it is most difficult to withdraw the funds from the business. A person who desires to withdraw investment has to consult his partners, find a replacement with equal business capability. Unless the above condition is fulfilled, the funds remain difficult to transfer and as such remain a frozen investment which creates lack of interest.

Disputes among the Partners

The partners should be liked minded, have a common objective, be large hearted, have a cool character, should not unnecessarily cause friction and confusion among the partners. The choosing of partner is in fact like choosing a wife.  Marry in haste and repent in leisure. In case of dispute among the partners, quick action should be taken by all the partners for the remedial measures.

Lack of legal Rules

The partnership has not been able to take large scale enterprises due to ineffective legal rules and regulations.

Possibility of misuse of Resources

It is known to each and every partner that the resources of the firm are owned jointly. There can and does arise the misuse of resources by a partner /partners.

Loss of Business Opportunities

A delay may take place in decision making due to the differences among the partners. So this can cause loss to the firm.

Divided Control

In partnership, the organization ‘works is divided among the partners according to their capacity, variety and taste. Divided control and responsibility sometimes creates misunderstanding and delay in decisions making. The lack of effectiveness on the part of one partner can upset the entire structure of the business and ultimately lead to dissolution of the business.

Lack of Permanence

The life of Partnership is least permanent. The death, dispute or withdrawal of partner makes its life uncertain.

Lack of Public Confidence

Partnership form of organization may not have public confidence due to lack of advertising and lack of regulation.

Risk and implied Authority

In partnership form of organization, each partner binds other partner by his act done on behalf of the firm. Thus the other partners may have to pay for the follies and dishonesty of a fellow partner.

Levels of Leadership

Leadership is key components of any organization. Without leader organization could not formulate and implemented his strategies.Leadership influence the other people they are worked in the organization.Leadership can be group into three levels:

Top Level of Leadership 

Macro planning is done by the top level leadership. Some procedure are sued while formulating any policy and planning at the Top level Management. Basic criterion of this level is future programming and planning of the organization. The leaders of this level are think tank that meditates about mega projects, financial management, staff requirement, coordination and control the organization system and communication problems.

Middle Level of Leadership 

The  leadership  of  this  level  make implementation  on  the  pre-planned  policies  from  the  top  level  leadership. This level of leadership is liable to inspect the salary system, convince their subordinates, held meetings and spread to judge the quality and control of the organization. They make daily wise result according to which they implement their decision.

Lower / Supervisory Level 

At lower level management section officers, superintendents, assistants, clerks, teachers and staff members are playing their role as leader. They formulate routine wise policy for the workers about their daily work. It is formulated to check the competency, performance capability and functioning of organization.  All three things depend on the compassion and collaboration of leaders and workers. At high level;  problems  are  high  and  at  lower  level,  problems  are  also  lower.  In  other  words,  if we  move  from  lower  to  top  level,  problems  arise,  difficulties  come  in  front  and fluctuation evolve in the process of leading and supervisor becomes weak at some extent. All the above three levels are the basic infrastructure of any organization.

Current trend in Leadership

The current trends in leadership are transactional leadership, charismatic Leadership and transformational leadership.These leadership style are discussed as under.

Transactional Leadership 

The  political  scientist  and  historian  James  Macgregor  Burns  (1978)  developed  a term  of  transactional  leadership  to  describe  an  approach  in  which  managers  motivate employees  to  perform  as  expected  by  clarifying  task  requirements  and  by  providing rewards  in  exchange  for  employee  efforts  towards  achieving  the  goals.  The  reciprocal mutual exchange of work for pay and other exchanges that takes place occur throughout whole  time  to  the  organization  help  all  organization  members  satisfied  about  working together toward attaining everyday goals.    Transactional  leadership  can  be  more  effective  in  the  environment  of  everyday management, where the focus is on maintaining current organizational performance or on dealing  with  well  –  structural  problems.  When managers apply transactional leadership, they are staying on course toward established goals by handling routine tasks efficiently and effectively.

Charismatic Leadership 

Max Weber, a sociologist, was the first person to discuss charismatic leadership. He  defined  charisma  from  the  Greek  for  “gift”  as  a  certain  quality  of  an  individual personality,  by  virtue  of  which  he  is  set  apart  from  ordinary  people  and  treated  as endowed  with  supernatural,  superhuman  or  at  least  specifically  exceptional  powers  or qualities.  These  are  not  accessible  to  the  ordinary  person,  but  are  regarded  as  of  divine origin or as exemplary, and on the basis of these the individual concerned is treated as a leader.  Weber  argued  that  charismatic  leadership  was  one  of  several  ideal  types  of authority.
Robert House was the first researcher to consider charismatic leadership in terms of organization behavior. According to House’s charismatic leadership theory, followers make  attributions  of  heroic  or  extraordinary  leadership  abilities  when  they  observe certain behaviors.

Transformational Leadership 


In  transformational  leadership  the  leaders  motivate  their  followers  to  increase their  own  benefits  for  the  betterment  of  the  organization  and  they  effect  deeply  and surprising  on  their  followers.  They focus on the coming damages and follower’s individual needs. They help the followers to solve their problems and try to change their mind from the issues. They have cap ability to awake, motivate and encourage followers to work hard and to achieve the group goals.  Transformational leaders guide and co-operate their followers to become innovative and creative. They work according to the goals.  The  followers  of  transformational  leaders  try  to  achieve the  desired  goals  of  the organization and believe that the goals they are trying to achieve are important for them. Transformational  leaders  have  some  common  characteristics;  sincerity,  develop  the organization  as a family, develop personal relationships, encourage social relationships serve as a role model, collective approach, innovation, and team work.

Basic Leadership Skills

There are three basic levels of expertise required for educational leader:

Technical Skill 

Ability to use knowledge, methods, techniques, and equipment, necessary for the performance of specific tasks, acquired from experience, education and training. 

Human Skill

Ability  and  judgment  in  working  with  and  through  people,  including  an understanding of motivation and an application of effective leadership.

Conceptual Skill 

Ability to understand the complexities of the overall organization and where one’s own operation fits into the organization. There are five Major skills required for efficient educational manager:

Major Skills for Efficient Educational Manager

There are five Major skills required for efficient educational manager:

Morale

It consists on following major values for school head in the efficient management of a school:  Commitment, Cooperation, Punctuality, Patience, Watchfulness, Integrity and Fairness.

Since of Judgment
Sense of judgment is necessary for situation requiring.  Three skills given below need to be exercised by an effective school head, Decision making, Conflict Resolution and Supervisory Skills.

Occupational Knowledge

The  skills  have  been  identified  for  a  school  head  such  as:  Current  policies,  rule, regulations,  and  financial  management  teaching  methodologies.  Institutional  planning information seeking / providing staff relations and Community involvement.

Technical Knowledge

A  school  head  should  have  a  high  proficiency  in  matters  of  financial  matters, administration, record maintenance, and leadership.

Manipulative Skills


Manipulation  taken  in  a  healthy  sense  is  a  critical  skill  involving  interplay  of skills in different residence, a sense of judgment, exercising of moral values together in a way  that  ultimately  it  is  the  individual  person  with  a  competent  professional  behaviour whom act appropriately to gradually raise his own school.

Leadership Behaviour

Leadership  is  an  important  criteria  for  maintenance  and  improvement  of  the quality of staff and the organization. As it is the critical factor for allocating and targeting roles and facilities in order to achieve the goals. Leadership has attracted the attention of sociologist, social psychologist and political scientists in various contexts. No unanimity is,  however,  found  on  the  precise  meaning  of  the  term  among  the  different  social scientists.

Without  a  good  leader  the  staff  and  organization  cannot  be  developed. Functionally speaking, leadership is to induce or persuade  all subordinates or followers, to  contribute  with  cheerful  readiness  or  organizational  goals  as  warranted  by  their capabilities. Leadership is in fact the rare ability to inspire. Leadership acts as a backbone within the system of an organization because it is the basic criteria for the balance and betterment of the quality of an organization. It has got the attention of various sociologists, psychologists and politicians toward itself. They look  upon  this  term  with  various  directions  and  there  is  no  agreement  on  the  accurate meaning of this term. The sociologists must have to study it deeply and also have become conversant with its exposed and dormant realities.  But  they  understand  it  very  complex and  difficult  term  that  is  why  these  are  not  agrees  to  know  about  the  concept  of leadership.


Leadership inspires the others to do their jobs in order to achieve goals. So a good Leader runs an organization in a sensible way and behaves rationally with his subordinates to get maximum output.

Purposes of Abstract Writing

An abstract has specific, importance in research activities so, it is a purposeful description:

These are main purposes of abstract writing.

Screening Documents

The major aim of abstract is to provide key information of a longer paper to the reader in short time. An abstract gives a chance to the readers for getting information about the paper or any other document. It gives knowledge about main topic, objectives, procedure, results, conclusions and recommendations. Abstract creates ability to understand the document.  Abstract is an alternative of a paper and contains key points of a paper. A reader reads every important thing of paper in his first reading.

 Indexing Information


The other major aim of abstract writing is to give important data base and knowledge to investigators, library staff and individuals of management group. Every information section gets help from abstracts for preparing their index system. Investigators of every field, use key words with in internet to get related information. Some times, abstracts save a lot of time and labor in selecting to the point database for research function. A researcher selects easily the topic or area of his own choice with the help of abstract and indexes.

Leadership Qualities of School Head / Leader

An  educational  system  empowers  the  head  teacher  to  administrate  school  level institution.  At  that  level,  disciplinary  system  is  very  difficult,  unusual  and  unreasonable.  He  can  play  his  role  not  only  in-side  of  the  institution  but  also  outside  of academy. He can create awareness among the people of community about the strength of education.  Moreover,  he  can  also  convince  his  pupil,  teacher  and  parents  about  the importance  of  education.  School  head  is  also  liable  to  take  some  suggestion  from  staff members,  student  and  parents  for  the  betterment  of  school.  He can also share some important issues with them to manage the school in a very best way.  In  order to do this process  more  effectively,  he  can  establish  school  management  committees  and  parent  – teachers associations.

A leader should be some qualities which are as under:

Honest

A good leader always keeps in mind that honesty is the best policy. So, he always remains sincere and perfidious with his work.

Competent 

He exerts all his exertions to his work.  All his exertions are based on the reasoning and ethics. He expresses all his compassion to achieve the goal. He makes and takes all his decisions wisely not emotionally.

Forward looking 

He  thinks  over  the  future  and  sort  out  best  way  to  secure  the  future  of organization.  He  finds  the  clear  and  straight  route  to  get  long  lasting  success.  For this purpose, he examines the things carefully and takes start from initial stage.

Inspiring 

A  good  leader  always  has  high  mentality,  physically  strong  and  owning  the spiritual  values.  He  expresses  all  his  expressions  in  such  a  manner  that  impresses  the others.

Intelligent  

He  just  looks  upon  the  things  and  very  quickly  known  about  the  reality  of  that thing. His perception power is very high. He just read, study and picks it up. He always wants to face challenges in order to learn something.

Fair Minded 

His brain is clear and transparent from all the calamities.  He always adopts the rule of fraternity, justice and brotherhood with the other people.

Broad minded 

He looks the things in a very broad sense.  His thinking is not limited.  He envisages the matters from all the directions.

Courageous 

He faces the hurdles courageously, and achieves the goal at all coasts. In time of distress, his face expressions remain unchanged. He confidently faces the challenges.

Straightforward 

He makes correct decision at correct time and does not care any of its aftermaths.

Imaginative 


His conceivability’s is very high.  He makes some amendments with the passage of time.  It  shows  his  create  ability  and  innovative  thinking  to  get  goal  to  reach  at destination.

Function of Management Process

According  to  the  my point  of  view  a good  planners  and  managers  in  an organization  such function kept in mind to control and manage the organization. Management process can be briefly described as follows:

Planning 

In order to enhance the process of management, to minimize the intermixing and to drop the extraordinary things, plans are made. This planning is done by keeping views ideas, policies, methodology, aims and proper guidance in mind.  And this way leads towards the destination.

Organizing 

After formulation of strategies, ideas, planning, aims, purposes and objectives, there are organized in a specific manner. This step of organizing the things involves the participation of all members in the form of coordinated efforts.

Staffing 

Through this step, eligible persons are selected for each job.  On  the  basis,  of qualifications,  experience,  competency  conceivably  and  his  foresight  staffing  is  done. Staffing functions, compensation (salaries and allowances / leave bonuses) transfers, resignations, retirement, terminations, pensions are major elements that are kept in mind while staffing.

Directing 

Through motivation and proper guidance, it is possible to get maximum outcomes from employees.

Leading

Behind  a  good  management  process,  there  is  the  hand  of  good  leader.  A  lot  of  books have been written on the leadership, models are prepared for leaderships, so many theories  are  on  the  topic  of  leadership,  so  much  processes  and  techniques  focus  the leadership process but our concern with leadership is just for communication process as an interpersonal influence in the management process to get long lasting goals.

Problem solving 

It is specialty of a good manager to cope with the difficulties, to grapple with the  problem  and  to  solve  all  the  puzzles  within  no  time  in  a  management  process.  In  early times, problems are solved through following steps, things are recognized first, then their analysis  is  done,  all  the  fact  and  figure  are  collected,  hypothetically  solutions  are researched  out,  among  these  solutions  most  appropriate  solution  was  applied.  But according  to  modern  concept,  problem  solving  has  a  close  relationship  with  conflicts management,  with  the  development  of  an  organization  and  making  and  taking  of  any decision.

Motivating 


The most important step in the management process is motivation.  Without motivation, process of management will not be so effective. The motivation can be given through various ways like by threading someone. This type of motivation is known to as fear motivation. Sometimes motivation is through the use of incentives.

Coordinating 

At  the  place  of  management  problems  arise  due  to  the  fictionalization  and separation of labor. So it is responsibility of upper management to resolve the problems by collaboration and interests of each person that is the member of organization. Through this step, the future of organization can be secured. Because, by unity and coordination, organization can bear fruit and will be very close to the destination.

Innovating 

According  to  latest  style  of  world,  due  to  the  rapid  process  in  science  and technology,  due  to  excess  of  resources  and  conditions,  the  management  also  demands versatility.  It  requires  new  method  of  jobbing,  handling  of  staff,  getting  more  and  more salaries  and  improving  the  performances.  All these things are functions of treat ability and innovations.

Controlling 

This factor basically compares the results obtained before planning in the past and after the planning. It acts as a standard to measures the parlance obtained after planning. Sometime,  the  management  function  also  has  some  decision  making  communication, coordination, human relations leadership and problem solving.

 Budgeting 

It is major source to put all the struggles of organization into their proctor. This budgeting is done on the basis of past performances of organization and future aspects by judging the various factors sensibly. Moreover, planning coordination and controlling are major goals of budgeting.

Decision making

Decision  making  is  necessary  step  during  all  process  of  management  that  is mostly  done  by  managers.  Different people have given different views about decision making.  There are different classes about this decision making process.  Actually,  this process  involves  following  main  steps;  to  identify  the  problems,  to  give  the  exact  idea about that problem, to sort out various possible and solutions of that problem, select the most favorable solution, apply the stetted solution    While performing the process of decision making, decisions must be effective and should target the exact point.

Human Relations 

This factor signaling towards the important point workers and colleagues must be treated as human not as animals.  Moral values, ethics, relationships and aspirations are kept in mind during this process of management.

Reporting / Communication

Communication plays a central role during management process.  Through the process of communication, leadership can be made more effective.  For this purpose, a manager must be in contact with his inferior ranked officer and appreciate and encourage their work if they are doing something well. This communication process can be carried out  through  any  of  the  medium  like  circular,  letters,  conferences,  telephone  notice, memos,  files  etc.  Vertical and horizontal type of communication network is best.  But it must be to and from all the directions.

Major skills for efficient educational manager

There are three basic levels of expertise required for educational leader:

Technical Skill 

Ability to use knowledge, methods, techniques, and equipment, necessary for the performance of specific tasks, acquired from experience, education and training. 

Human Skill
Ability  and  judgment  in  working  with  and  through  people,  including  an understanding of motivation and an application of effective leadership.

Conceptual Skill 


Ability to understand the complexities of the overall organization and where one’s own operation fits into the organization. There are five Major skills required for efficient educational manager:

There are five Major skills required for efficient educational manager:

Morale

It consists on following major values for school head in the efficient management of a school:  Commitment, Cooperation, Punctuality, Patience, Watchfulness, Integrity and Fairness.

Since of Judgment
Sense of judgment is necessary for situation requiring.  Three skills given below need to be exercised by an effective school head, Decision making, Conflict Resolution and Supervisory Skills.

Occupational Knowledge

The  skills  have  been  identified  for  a  school  head  such  as:  Current  policies,  rule, regulations,  and  financial  management  teaching  methodologies.  Institutional  planning information seeking / providing staff relations and Community involvement.

Technical Knowledge

A  school  head  should  have  a  high  proficiency  in  matters  of  financial  matters, administration, record maintenance, and leadership.

Manipulative Skills


Manipulation  taken  in  a  healthy  sense  is  a  critical  skill  involving  interplay  of skills in different residence, a sense of judgment, exercising of moral values together in a way  that  ultimately  it  is  the  individual  person  with  a  competent  professional  behaviour whom act appropriately to gradually raise his own school.

Theoretical Importance of Economics

Intellectual values

Study of economics sharpens the intellectual values .It helps to understand the Economic problems. A student of Economics observes closely the human behavior in the ordinary business of life and derives results after analyzing facts

Educational Benefits

In the present times the education of a person can not be complete with the study of economics what ever is happening around us has economic importance even highly qualified person without the study of economic can not fully understand the economic problems

Useful information

By studying economics we get useful information.  With the study of economics National and international economic changes can not be understood. To understand the economic problems e.g. Inflation, Economic depression, un-employment .Low level of National income ,Low per can capita income ,Unequal distribution of wealth and disequilibrium in Balance of payments ,Study of Economics is compulsory .

To understand the working of economic system


With the help of economics we are able to understand how economic system works and what are the basic problems of an economy i.e. what to produce, how to produce, how much to produce and for whom to produce

Role of Leadership

Leadership play very important roll to plan and organize the organization activities. if leadership is competent and skillful then organization boost up and generate revenue. some major roles of leadership are as under.

Conflict Management 

Conflict is actually a violent collision, a struggle for contest, a combat and mental struggle. Conflicts arise, when two or more persons, or tribes or nations wrangled for their interests and ignores the others. They tried their best to secure only their survival and do not care the others. These conflicts may be in the form of quarrel and disputes. During a conflict  loss  talking,  non  sensible  behaviour,  a  stupidities,  terrorism  and  hostility,  may happen. They are resolved by third party and in this way they are stopped. Generally the realities,  data  based  on  information  (right  and  wrong),  authority,  some  values  and personality attributes are sources of this conflict.

Motivation 

It  is  a  direction  gives  be  leader  to  his  followers  that  aimed  to  get  goals. Motivations are directed in an influencing and effectual manner.

Stress Management 
Stress  is  reaction  of  brain  in  response  to  the  action  of  any  stimulant.  In  a management  process,  stress  is  actually  a  step  taken  by  an  organization  to  minimize  the stress activities against the organization. The stress management is done at individual as  well  as  collective  level  to  remove  the  role  of  stress  in  the  residence  of  work.  The stress management can be done by improving communication process.

Team Management 

A manager or leader manages all the team work of people to get common task. A group shows unifying relationship whereas the team shows an interdependent relationship for that common task.  Productive participation, credibility, sensibility, evaluative thinking and trusty atmosphere among the leader and followers are characteristics of the team management.

Quality Management 

In this type of management the purity, effectiveness, efficiency and performance of a system is ensured.  While  checking  the  quality  management,  compliance,  employee empowerment,  facts  based  on  the  correct  decision  and  efforts  takes  to  improve  the management process. Customer center are the Stuarts, parents and students.

Change Management 

Change  management  act  as  tool  for  the  effective  sunning  of  organization  with changing  life  styles  of  the  world.  This process demands a desirable transition in the parent state of individuals, team’s organizations and societies. This process also requires creating change management complicity among the leaders and manager that play a role among the workers to bring about changes.

Communication 

Process of management is incomplete without the communication.  A successful leader knows the communication skill; otherwise he can not survive with organization.

Resource Management 

This type of management ensures the availability of some facilities when thee are needed.  There  may  be  financial  resources,  human  skills,  physical  resources  or information  technology.  It suggests the discovery and resection, their assignments, its uses and preservation of that resource.

Knowledge Management 

In  order  to  manage  an  organization,  a  lot  of  knowledge  is  required  but  the  most important thing is to organize the knowledge into most advantageous and beneficial form. Knowledge  gained  from  various  sources  is  applied  in  a  fashion  to  enhance  the organization development.    In this process of management, following points are most important, knowledge is got groom various sources such as literature society, environment etc. This knowledge is preserved. It is organized. Then it is applied and at the end it is distributed.    This knowledge management process is usually used to improve, learning, knowledge, some expertise and intellectual capital.

Time Management 


A  proper  scheduling  and  time  table  is  necessary  for  the  effectiveness  and efficiency of the leader and workers. So a time management acts as tool for management process.

Powers of Leadership

Leadership  is  actually  an  authority  gives  to  the  leader  that  enables  him  to  get submission and output from the followers. This authority or power may be; 

Legitimate / position power 

According to follower’s ideology, a leader has sovereignty to make his own rules and regulations. These rules and regulations can be applied in the opposition and favor of any person. He can give and take any of post from 
others.

Reward power 

Followers think that leader has supreme power to recompense the compliant as a reward of his submission according to the dictation of leader.

Coercive power 

Followers believe that a ruler can adopt a repressive and compulsive behavior to give punishment to followers, if they make any mistake.

Referent power 

It is based on the belief of followers that the leader has some personality attributes and attractive qualities that attract the followers. The followers try to adopt these traits.

Expert power 

Leader’s opinion is taken as an expert opinion. Due to richness of knowledge, his opinion is valuable among the followers.

Personal power 


It  depends  on  the  personal  will  of  leader  to  establish  a  good  relation  with inferiors, high authorities, top management and legislators etc

Role of School head as Academic Leader

The school head has the liabilities to conduct the process of education, to facilitate the educational leadership, to develop staff and to enhance community applications. But involvement of all devotes is necessary in this regard.  The  efficiency  of  his  leadership should  be  in  such  a  strategic  fusion  that  under  the  effect  of  which,  a  school  can  be converted  into  learning  society.  He should have the duty to guide and provide proper guidance to the teacher and students. An effective policy, reviewing of course work and assessment  of  teacher’s  efficiency  demand  proper  direction  and  team  work.  In  this paradigm,  a  role  of  school  teacher  requires  his  perception  and  discerning  ability, sensibility  and  foresight,  effulgence  and  conceive ability  and  his  concentration  and devotion to his work.

A  school  head  should  have  the  responsibility  to  check  the  student’s  activities teacher’s  competency.  He  should  be  aware  of  the  declination  that  where  there  is deficiency, whether in the students or in the teachers. He should also tell them the right way to solve the puzzles.  This  technicality  will  be  helpful  for  them  to  grapple  with  the problems  of  their  learning  and  teaching  process.  In  this  way,  they  become  conversant with  students  learning  outcomes  and  balancing  a  better  communication  with  parents  or society.


He also has an effectual role to encourage the devotees who are keenly interested in making the school a model one. In order to get knowledge that how he can improve the efficiency of school, he remains in direct contact with dignitaries.  He  attends  the meetings  of  his  officers  and  walls  for  this  purpose.  He also involves the teachers, community members and parents to do well for the welfare of school.