Free M.B.A. Guide
Free MBA Resources

Masters of Business Administration Notes


Home

About Us Advertise Contact us  Wednesday 18th January 2017 Success Essentials
 
 
.Reviews
Advertising Management
eBooks
Finance Management
Home Based Business
Industrial Relations
List of MBA Colleges
Marketing Management
Negotiations
Office Administration
Office Management
Organisational Behaviour
Organisational Theory
Personnel Administration
Principles of Management
Production Management
Sales Management
Tally - Accounting Software

ORGANS OF COMPANY MANAGEMENT






FILL YOUR ADMISSION FORM for IIBM NOW





Postini Alternative

 
Secretaries

A secretary has been under Section 2 (45), as modified by the Companies (Amendment) Act, 1974, as an individual possessing prescribed qualifications appointed to perform the duties which maybe performed by a secretary under this Act and any other ministerial or administrative duties. Therefore, after the commencement of the Amendment Act, only individuals can be Secretaries.

Click to read - Secretaries

Remuneration of the manger

The remuneration of the manger is subject to limits contained in Sections 198 and 387.

Click to read - Remuneration of the manger

Manager

Under Section 2 (24), manger means “an individual (not being the manging agent)who, subject to superintendence, control an direction of the Board of director, has the management of the whole, or substantially the whole, of affairs of a company, and includes a director or any person occupying the position of a manager by whatever name called, and whether under a contract of service or not.”

Click to read - Manager

Number of managing directorships

A managing director cannot act as such for more than two companies at the same time. In case of the second company, his appointment will require the unanimous approval of the Board of Directors.

Click to read - Number of managing directorships

Remuneration of Managing Director

The remuneration of a manging director is subject to the maximum limit of 5 percent of net profits for one and 10 per cent for all of them.

Click to read - Remuneration of Managing Director

Terms of office of Managing Director

The term of office of a manging director cannot exceed five years at a time. But a person can be reappointed as such for a further period of five years.

Click to read - Terms of office of Managing Director

Appointment of Managing Director

A managing director can be appointed for the first time only with the approval of this Central Government.

Click to read - Appointment of Managing Director

Managing Director

Generally, the directors select one of them to devote his whole time to the affairs of the company. Such a director is known as the managing director and combines in himself two positions, namely, that of a manger and a director. Before 1956, the Companies Act did not define this term.

Click to read - Managing Director

Functions

The chief executive of the company, whatever be his designation. Is a member of the top management team in the strictest sense of the term. He is charged with the responsibility for the company on be-half of the Board of Directors.

Click to read - Functions

Chief Executives

It has been pointed out earlier that the initiative in respect of effective management has virtually passed into the hands of the chief executives though the Board of Directors still continues to be the top organ of management responsible for review and appeal.

Click to read - Chief Executives

Proper Composition of the Board of Directors

The Board of directors being he topmost organ of a the company, it is necessary that it is properly constituted. It must be and a vital, effective an constructive organ of the enterprise if the company is to attain the goals an objectives it has set before itself In fact, most of the successful companies ow tier success to the development of an effective Board which consists of people with foresight and enthusiasm.

Click to read - Proper Composition of the Board of Directors

Powers and Functions

A study of the Board's functions and powers can conveniently be made under two broad head: (i) statutory functions (2) managerial functions.

Click to read - Powers and Functions

The Directors to act as a Board

Individual directors have no powers; they have to act as a Board. Matters have to be decided at meetings or through circulation. But the Board has the power of delegating certain authority to an individual director or to a committee of directors.

Click to read - The Directors to act as a Board

Remuneration of Directors

The remuneration of the directors, including a managing director or a whole-time director, is governed by Section 198, which lays down the limits of the over-all managerial remuneration, and Section 309 of the Companies Act and may be determined by the Articles or a resolution (ordinary or special as the Articles provide ) of the company passed in a general meeting.

Click to read - Remuneration of Directors

Multiple Directorships

Prior to the enactment of the companies Act, 1956, a person usually held a number of directorships. This was referred to as the system of multiple directorships. The system resulted in a great deal of inefficiency in the management of companies.

Click to read - Multiple Directorships

Share Qualification

No academic or technical qualifications are laid down for directors. A person becomes eligible for appointment as director only when he files with the Registrar his consent in writing to act as a director and fulfills the requirement with regard to qualification shares.

Click to read - Share Qualification

Number of Directors

Under the law, a public company in India at least three directors. This applies also to private company which is subsidiary of a public company. Otherwise, two directors are sufficient for a private company.

Click to read - Number of Directors

Election of Directors

The first directors of a company are appointed by the promoters and a list of such directors is submitted to the registrar of companies, but if no separate list is submitted, the persons who subscribe to the Memorandum of Association will be treated as the first directors.

Click to read - Election of Directors

Board of Directors

In view of th general separation of ownership from management in a company, it must be managed by an elected body representing the shareholders.

Click to read - Board of Directors



 
 
© 2008 - Free MBA Reources - FreeMBA.in