Today's world is smaller not just by virtue of digital communications, satellites, fax machines and the like but because of steady growth of truly global economy which far more thoroughly than any weapon of war, is tearing down political barriers that, a short time ago, seemed absolute and unbreakable. To survive in the rapidly changing world, proper education is fast becoming an economic necessity for survival. The businessman coming to realize that education is to business what fertilizer is to farming. Over a period, the commerce education has emerged as a strong academic discipline in the University system. Coming up of professional institutions like the Institute of Chartered Accountants of India, Institute of Cost and Works Accountants, Institute of Company Secretaries of India as federal statutory bodies provide a high degree of professional touch to business education. This volume has thrown innovative insight into various areas of today's and future interests of policy makers, business firms and researchers. Most of the contributions relate to International/global business and related to issues like disinvestments. W.T.O. working and globalisation perception, Corporate Governance, Human Resource Management and Development, Information Management and Information Technology. All these have been contributed by well known persons from a wide variety of academic and professional fields/disciplines, and as such, are full of research input of recent years and also new dimensions of professionalism, innovation and communication development.

The management of working capital is an important and time-consuming aspect of managerial finance. Sufficient working capital must be provided in order to take care the normal process of purchasing raw materials and supplies, turning out finished products, selling the products, waiting for payments to be made. Keeping in view requirements of the students of MBA/Commerce/Business Economics at various Universities/ Institutes, Chartered Accountants, Company Secretaries and other professional courses, the text is designed to fill the gap and also transmit some of the excitement of current thinking and controversy. (7th Revised & Enlarged Edition)

The phenomenal expansion of the services worldwide led to services being regarded as an engine of the growth and even as a necessary concomitant of economic growth. Overall the current changes rumbling through the financial services industry are fundamental and have pervasive effects on national and global economy. In the face of this revolution, answers to basic questions regarding the determinants of growth and survival must be asked and answered. What do financial services do the produce value? What are the basic services this industry provides and why are they demanded? What factors determine changes and shifts in the need for and satisfaction of financial services? What determines the returns and risks to participate in the industry? How can managers and regulators deal with these critical factors? Stated purposes and rationales used in implementing regulation provide an outline of arguments used to justify changes in the regulatory environment surrounding securities and derivative activities. Changes often reduce profits or create profitable opportunities. The present volume analyses the critical significance of financial services industry, nationally or internationally, and the key components of the strategy to integrate the Indian financial system with the global.

The decade of the eighties and the early nineties of the last century have witnessed changes in the world economy and in international economic and financial relationship. Several governments in the developing countries have recently embarked on a liberalization of their foreign trade and financial markets; many have also decontrolled domestic prices and investment decisions. The economies of Eastern Europe and the Commonwealth of Independent States (CIS) have also begun to establish new political structures and to liberalise their economies. Liberalisation policy is contemplated as a measure of primary importance and is expected to improve the allocation of an economy's resources, lead to a greater efficiency, expand the economy's output, and accelerate its growth. Such a transition from a less to a more liberal economy raised issues of great interest to policy makers and economists alike. Reform of economic policies in developing countries is one of the most frequently, and least understood efforts of the last decade. The book systematically deals and analyses the dynamics of liberalisation process and compares the countries' response in considerable detail. Struck by the differences in their subsequent economic performance, a closer analysis reveals that their experience contradicts the conventional view that the ability to absorb shocks depends on the size of the shock, a country's experience with inflation, its degree of outward economic orientation, and its various political attributes. Genuine reforms are necessary if countries are to achieve sustained growth in real incomes and increase in living standards. Current international developments confirm that the book is dealing with a question of some urgency: What can a developing country do to ensure that it will adjust smoothly and swiftly after a macro-economic shock? To find out what factors influence adjustability, the study explores the recent stabilization experience of some developing countries around the world, looking for any signs of a relationship between stabilization policy and economic growth. It examines the various components of policy, which must be reformed-government spending and revenue, trade and exchange rates, controls on private sector activity, labour market regulations etc. Finally, there is an analysis of why reforms, once implemented, succeed or fail, accompanied by a description of several reform efforts and their outcomes.