Resource

Production involves bringing together certain inputs – called factors of production or resources- to create goods and services i.e., the output. Resources are the ingredients necessary for producing goods and services, just as you cannot bake a cake without ingredients of flour, eggs, sugar, and so on. It is these resources that are scare and, in turn, cause goods and services that are produced with them to be scarce.

Nature is the only source of all kind of primary resources. The primary resources can be termed as ‘natural recourse‘.

Scarcity

All the natural resources are not abundant. This term ‘Not abundant’ is called ‘scarcity’ in the terminology of economics that simply refers to limited supply of specific kind of natural resource. Scarcity or limited supply configures a natural resource as an economic resource.  So more specifically, Scarcity means not having sufficient resources to produce enough goods or services to fulfill unlimited subjective wants. Alternatively, scarcity implies that not all of society’s goals can be attained at the same time, so that we must make trade-off one good against others.

“Resources scarcity” is defined as a difference between availability of certain resource in certain period of time and the amount people desire of (or the demand for) that resource. Thus, a good is scarce if people would consume more of it, if it were free.

Scarcity can also be viewed as the difference between a person’s or society’s desire and his possession.

Opportunity Cost

Many see the concept of opportunity cost as one of the very few profound “eternal truths of economics,” which is a result of the universal nature of scarcity as the central economic problem.

Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity forgone (and the benefits that could be received from that opportunity), or the most valuable forgone alternative. For example, if a city authority decides to build a hospital on a vacant land that it owns, the opportunity cost is some other thing that might have been done with the land and construction funds instead. In building the hospital, the city has foregone the opportunity to build a training center on that land, or a parking lot, or the ability to sell the land to reduce the city’s debt, and so on. Opportunity cost need not be assessed in monetary terms, but rather, is assessed in terms of anything that is of value to the person or persons doing the assessment. The consideration of opportunity costs is one of the key differences between the concepts of economic cost and accounting cost.

To human the prime issue, as a biological being, is to maintain own life like any other animal or bird. By meeting some basic needs (like fresh air to breath, water to drink, foods for nutrition) this target is obtained. But, for human, as a social and civilized being, earning the livelihood doesn’t carry less importance than only living like a bird or a deer. Human is not only a nature dependent but also a society dependent being. The human society, through individual and organization level interactions, innovate and uphold the process of translating natural resources to

Higher employment (or lower unemployment) rate is good indicator of the macro economic health of any country and that is desirable to any government, economic analyst, even to a commoner. But ‘employment’ is not an economic problem, rather the problem is ‘scarcity of employment opportunity’ that is unemployment. So unemployment covers more economic discussion than employment. To reach the optimum level of employment economic theorists always quest for reasons, types, and others notion of unemployment.

Collective bargaining is the process of negotiation between representative of firms & workers for the purpose of establishing mutually agreeable condition of employment. The wage and fringe benefit of unionized workers are determined by collective bargaining.

In every free modern industrial society, trade unions are an accepted part of the industrial scene. Labour unions are complex organizations, with various desires and goals. Some of these goals are purely economic, for example, favorable wage settlements and levels of employment. In addition, some of the things unions desire are non-monetary, although still ‘economic’ in the sense of having identifiable and quantifiable cost to the employer. Among this second group would fall various fringe benefits – for example, contribution to pension funds, hospitilization programmes, paid holyday and so on. A third category union goals might be called indirect economic goal, in that their long-run effect is indirectly intended to be economic improvement of the union member. This category includes control over labour supply through apprenticeship regulation, union shop provision, restrictive working rules, and so on. Finally we may speak of some non-economic goals of unions, the goals of a social or political nature.

The  lecture  is  still  the  most  frequently  used method   of   instruction.   However,   presenting   a lecture without pausing for interaction with trainees can be ineffective regardless of your skill as a speaker. The use of pauses during the lecture for direct oral questioning creates interaction between instructor and trainee.

Unfortunately, when classes  are  large,  the  instructor  cannot possibly interact with all trainees on each point. The learning effectiveness of the lecture method has been questioned because of the lack of interaction;  but  it  continues  as  a  means  of  reaching a  large  group  at  one  time  with  a  condensed, organized  body  of  information.  Providing  trainees with   lesson   objectives   before   the   lecture   will enable  them  to  listen  more  effectively.  It  will  help them to take concise, brief notes concerning the objectives  rather  than  writing  feverishly  through- out the lecture. We  discuss  the  lecture  method  first  because the techniques involved serve as the basis for other methods of training. Those techniques apply not only  to  lectures,  but  to  many  other  kinds  of presentations in which oral explanations play a secondary,  but  important,  role.  Every  method depends on oral instruction to give information, to arouse attention and interest, and to develop receptive  attitudes  on  the  part  of  the  trainees.

You will often find that many people confuse marketing with advertising or vice versa. While both components are important they are very different. Knowing the difference and doing your market research can put your company on the path to substantial growth.

Let’s start off by reviewing the formal definitions of each and then I’ll go into the explanation of how marketing and advertising differ from one another:

1. Write the objectives of Safety Management

Ans: To preserve the physical assets from unsafe conditions.

• To prevent the human resources from unsafe act resulting from unsafe actresulting injuries or death.

• To reduce the operating costs resulting from compensation paid or cost of property damages.

The objectives of Safety in the organization

• To save the life and limbs of workers,
• To protect production from discontinuity
• To decreased labor turn over
• To maintain the quality of production
• ‘To ensure smooth increase of productivity
• To maintain harmonious management labor relation.

2. Write the functions of Safety Management.

Ans: Functions of Safety Management

1. Formulate policy for safety of workmen.

2. Formulate safety procedure and programs.

3. Take prompt measures for elimination of hazards or accidents.

4. Maintain safely equipments in sound condition.

5. Keep necessary records of accidents and measures taken for prevention of accident.

6. Seek cooperation of employees in safety measures.

7. Orient the employees about safely measures through training, discussion etc. Functions of Safety Organizations

8. Safety management needs to be integrated the functioning of the industry both in concept and in practice. This in turn, projects the need for strong safety organizations within the units and well-planned efforts directed at managing safety.

9. Safety policy, Staff safely assistance, Managers participating in safety

10. Employees participating in safety, Plant medical services.

11. Training and development of employees. Influence of supervision

12. Management   information   system,   Incentives   schemes   and   safety promotion, Managing the change

3. What arc the roles of safety managers?

Ans: Complying   with   all  applicable  safety   and  health standards,   rules, regulations    and    orders    issued    by    competent    authority   pertaining    to the activities immediately under their jurisdiction.

• Ensuring that employees are instructed and or trained in safe practices and methods of job performance as relates to their assignment.
• Ensuring that sick and or injured employees performing official duties receive appropriate first aid and or medical attention,
• Investigating and reporting each incident and or injury in accordance with established procedures.
• Initiating to the limit of their authority and capability, such actions necessary to correct unsafe or unhealthy working conditions determined to exist and promptly advising appropriate management when such conditions require corrective actions beyond their authority.
• Conducting regular surveys of their operations to ensure compliance with such safety standards, codes, regulations, rules and orders applicable to the work area concerned
• Ensuring that employees under their supervision are aware of their responsibilities.
• Supervisors are responsible for implementing PPE programs in their area.

4. What is the management actions needed for organizational safety?

Ans.Top management leadership?

• Adequate funding.
• Participation and involvement of senior managers
• Adequate control- technical and administrative over process and
• hazardous substances. “
• Systems to check- technical and administrative over process andhazardous substances. “
• System to check, monitor and ensure safe working conditions and workmethods.”
• A preventive maintenance program geared to safety needs.
• Capable staff safety assistance, a strategy for training of managers, supervisor and workmen.
• Forums for meaningful participation of employees.
• Exchange of in formation with other industries, units and groups.,
• Preparedness for emergency on site and off-site, in case of units major hazard potentials
• Sufficient medical arid first facilities
• Technical competence and professional leadership in the field “
• The ultimate aim of the managers should be to take the organization to heights of success both in growth and standards of safety, through excellence in management

5. Define emergency planning.

Ans: Emergency planning is recognizing that accidents are  possible, assessing the consequences of

such accidents and deciding on the emergency ptoedures both on site and off site that would need to be implemented in  the ever of   an emergency.

6. What are the objectives of emergency planning?

Ans: the objectives of emergency planning

• (a) to,  localize the emergency and, if possible eliminate  it.
• (b)  to minimize the effects of the accident on people and property,”
• (c)  to safeguard others (evacuating them to safer places).
• (d) to rescue the victims and treat them properly-.
• (e) to identify the persons affected dead.
  (f) to inform relatives of the casualties.
• (g) to provide authoritative information to the news media.
• (h) to preserve relevant records and equipment needed as evidence in case of an inquiry.
• ( i) to rehabilitate the affected areas.

7. Explain in details the formulation on and techniques of emergency planning.
Ans:

• a)   Identification of  types  of expected disasters depending upon the type of  in industrial unit
• b)     Identification of various groups, agencies, departments etc. necessary for dealing with a specific
• disasters effectively.
• c) Preparation by intensive training of relevant teams’ group within the organization to deal with a speci -fic disaster and keep them in readiness.
• d) Establishment of an early detection system for the disasters.
• e) Development of a reliable instant information or communication system.
• f)  Organization and mobilization of all the concerned departments/ organization group and agencies.
  instantly when needed.

ü    Complex installation plan should  include the following elements:

(a)   assessment of the size and nature of the potential accidents and the relative likeihood of their occurrence;

(b)  formulation  of the  plan  and  liaison  with  outside authorities,

including the emergency services/ fire services.

(c) procedures for raising the alarm and for communicating both within” and outside :he

installation;

(d)    establishment of an early detection system for the emergency;

(e)  the loctlion and organization of the emergency control centre;

(f) the actions of workers on site during the emergency, including evacuation procedures; the actions of workers and others off site during the emergency

8. In developing emergency planning how responsibility of the site is organized.

9. Write the possible causes of major accidents.
Ans:

a)                    component failure;

b)                    deviations from normal operating conditions;

c)                    human and organizational errors;

d)                    outside accident interferences;

e)                     natural forces,

f)                                           acts of mischief and sabotage.

10. What do you mean by outside accidental interferences?

Ans:

1.   road, rail and ship transport’ (especially carrying chemical substances)

2.        loading stations for hazardous substances;

3.        excessive atmospheric temp, in case of transport;

4.                 neighboring installations, especially those handling flammable or explosive substances,

5.         mechanical impact such as that caused by a falling crane or heavy load. road, tai! end ship

transport ‘(especially carrying substances)

6.         loading stations for hazardous substances;

7.        excessive atmospheric temp, in case of transport;

8.                 neighboring installations, especially those handling flammable or  explosive substances,

9.         mechanical impact such as that caused by a falling crane or heavy load .